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Revealed: BOLD New Rules for Caribbean Citizenship · IMI Podcasts

• 0:00
  SPEAKER_01: There's certainly been a lot of rumors about the residence requirement that is on the horizon for the Caribbean, especially because the Caribbean has never had an element of residency requirement throughout all five islands.
• 0:13
  SPEAKER_01: Some people may know Antigua did have a short stint.
• 0:17
  SPEAKER_01: So that I think is far beyond rumor at this point.
• 0:21
  SPEAKER_01: The five islands have committed to introducing a residency requirement.
• 0:27
  SPEAKER_00: The residency period is something that is coming to the Caribbean.
• 0:31
  SPEAKER_00: It's not officially announced, but it's it's definitely happening.
• 0:35
  SPEAKER_00: And we've been asked a lot lately about what we think about it.
• 0:38
  SPEAKER_00: The beauty is, don't forget in Antigua, we've been dealing with this for 10 years.
• 0:42
  SPEAKER_00: So we're well trained and we know it's actually exciting.
• 0:45
  SPEAKER_00: You have to keep in mind that when your clients will come to the Caribbean, that's another touch point with the client.
• 0:52
  SPEAKER_00: Like that's a chance to sell your services again, make sure they have a good experience in Antigua, and the best part of our industry is generating referrals.
• 1:00
  SPEAKER_00: So the residency period is good from a business point of view, actually, when you think about it.
• 1:05
  SPEAKER_00: And we've experienced this over the last 10 years.
• 1:07
  SPEAKER_00: But the best part is that they'll actually come to Antigua or St.
• 1:11
  SPEAKER_00: Kitts or wherever it is that they've applied.
• 1:14
  SPEAKER_00: And these places are phenomenal.
• 1:16
  SPEAKER_00: They're a wonderful experience.
• 1:18
  SPEAKER_00: And it happened to me just a month ago.
• 1:20
  SPEAKER_00: I had one of our very good partners who are based in the Middle East, and they were always saying how the residency period is a stressful time because it's going to be harder to sell.
• 1:30
  SPEAKER_00: And I swear to you, she came one month ago to Antigua to see us.
• 1:35
  SPEAKER_00: And the first day, after an entire day in Antigua, the next day, she completely changed the way she thought and talked about it.
• 1:42
  SPEAKER_00: She says, I can't wait to sell this as a destination.
• 1:45
  SPEAKER_01: I want to refer to it more of a physical presence requirement that would be shared amongst the members of an application.
• 1:52
  SPEAKER_01: And the agreed period is 30 days over a period of five years.
• 1:56
  SPEAKER_01: I think that's pretty reasonable.
• 1:58
  SPEAKER_01: I think like any change, the introduction of a residency requirement may result in some flux in the market.
• 2:07
  SPEAKER_01: But I think the demand for Caribbean citizenship will remain for several reasons.
• 2:14
  SPEAKER_01: So I think there'll be a dip in the processing temporary.
• 2:18
  SPEAKER_01: I believe it will correct and it may actually strengthen the program overall.
• 2:23
  SPEAKER_01: Because there's also the discussion of possible visa waivers being in jeopardy.
• 2:28
  SPEAKER_01: And this measure taken by the Caribbean governments may put an end to those concerns.
• 2:34
  SPEAKER_00: Do I think that the residency requirement will shift more to property?
• 2:38
  SPEAKER_00: That has happened already with the new fee structures established last summer.
• 2:43
  SPEAKER_00: More and more clients are looking for the investment option, whether it's investment in real estate or anything else.
• 2:49
  SPEAKER_01: I think that the implementation of measures by the Caribbean governments, all five islands, acting in a unified manner does go a long way towards alleviating the concerns of international partners.
• 3:03
  SPEAKER_01: It shows that there is genuine intention to not just talk about changes, but to act.
• 3:12
  SPEAKER_01: And that should go a long way in shoring up our relationships with the international partners.
• 3:18
  SPEAKER_00: We'll see is more clients investing in property outside of CIP because there's higher ROI on that side.
• 3:25
  SPEAKER_00: If they establish ties locally, uh they can generate more benefits.
• 3:29
  SPEAKER_00: And so I see property sales post citizenship increasing dramatically, which is another opportunity to grow your business if you're in our industry.