Imagine running your business in a tropical paradise. For lunch, you head to the nearest street vendor for fresh-caught fish grilled with lemons and onions. By taking advantage of the growing tide of citizen-by-investment (CBI) opportunities, this could be your new reality.
CBI is no longer just for retiring blue bloods. Many successful entrepreneurs are leveraging the economic benefits of picking up a second passport. When you have dual citizenship, you enjoy increased safety and security options for your family. It’s easy to pick up and move countries when you already have legal claim to life overseas. The CEO of CS Global partners, Micha-Rose Emmett, has noticed an increase in CBI interest given the uncertain political changes of big events like Brexit or the election of U.S. President Donald Trump.
Entrepreneurs also benefit from access to multiple marketplaces. CBI doesn’t require you to live in your second country, but it does make business deals much easier. You won’t have to worry about visas or government offices that only serve citizens; you’ll be entitled to the same benefits as a native citizen.
Citizenship in a low- or middle-income country also confers economic benefits. Running a business in these economies can be much cheaper, as wages and real estate costs are lower. You’ll be surprised by how many locals speak fluent English, making it simple and affordable to outsource customer service positions. Your personal finances can also benefit; you can own an oceanside home, send your children to excellent international schools and hire domestic help at a fraction of the cost you’d pay in your first country. Entrepreneurship is stressful on the entire family. CBI lets you leverage the power of the dollar or Euro to reduce that stress.
The highest-ranking CBI programs are centered in the Caribbean. You’ll enjoy tropical weather, low costs and liberal governments with high freedom of movement. Many of these economies are still developing, offering countless business opportunities for savvy entrepreneurs.
Don’t feel guilty about buying your way into dual-citizenship. Your investment overseas benefits your new home by providing capital to cash-strapped governments. This money is used for building infrastructure, improving healthcare systems and responding to national disasters. Small island nations have limited economic opportunities. Opening their doors to small business owners like you is one of the easiest ways to build their nation, especially compared to alternatives like mining, drilling for oil or mass tourism.
When you’re dedicated to your business, you’ll do anything to help it grow. Don’t dismiss CBI before you’ve researched it. This could be the jolt your business needs to reach its full potential.
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