Second passport: UAE residents choose Schengen as Caribbean prices rise
Cyberbullying concerns the harassment of individuals via social media. As a result, the UAE has placed legal regulations with respect to the online hunting of individuals, cyberspace fraud and violations of the data privacy law.
As per the Federal Decree-Bill No. 5 of 2012 concerning Combating Cybercrime, this crime is punishable with some law and provisions regarding its consequences has been stated. The individuals found culpable of cyberbullying may be sentenced to three years in prison and slapped with a fine of between Dh250, 000 and Dh500, 000 depending on the level of crime. It further allows the seizure of all instruments used in the commission of the crime.
In addition to this offensive act, The UAE has also brought in place Cybercrime law in the form of federal decree law 34 of 2021 to deal with threat to information systems and information society as well as dissemination of false information and news. This law repeals older laws regarding cybercrime policies and gives out sanctions against offenders for cyberbullying in all its facets.
Among the acts covered by the law that are considered as cyberbullying include: scamming, abuse, violation of right to privacy through exposing intimate images or videos and defamation on social networks.
In an interview with Saturday, Urusa Imran who is director for business development management at Samana Group said that such schemes as citizenship through investment have been more than doubled by several Caribbean countries.
The major motivator for people applying for a second passport is basically the visa free travel. People were in search of a Caribbean passport because it gave them permission to travel to other European countries without any visa and this could be granted in a period of six months. There are people who have been buying European passports at a huge cost and getting resided there after a wait of 5 to 7 years.
Now it has reached a stage where the investment amount is practically equal to investment in countries like Portugal and Spain to acquire their passport. In your case it is that when a lot of money has to be put up a lot of clients seem to be programmed that if they will put that same amount in and in a couple of years get a European passport which has much more advantages,’ stated Imran.
As for the present investors and wealthy families from countries of Asia and some countries of the Middle East they usually obtain second passports from the Caribbean countries only for going on a trip rather than for relocating into these countries.
“The converse was also true – where most investors often develop such an interest in the Caribbean, with low investment amounts targeting citizenship that allows multi-nationals access to various regions. In this case, at least, 145 countries, without a visa.
Using an amount of 5,00,000 euros, Imran indicated, people can apply for a Portugal passport.
To this, she added that because of the present political and economic conditions of the country, a lot of people from Pakistan are asking for second passports.
Iñigo De Luna, CEO of Citizenship Invest, added that apart from HNWIs chasing the program, the recent price surge did not affect those seeking citizenship through investment. The investors who are invested in strategic planning still find the Caribbean very attractive and more available than the changed price offers.”
“Since the announcement back in March 2024, there have been some dramatic increases in applications, even by UAE residents, which was expected as the deadline approached. For over 40 years the Caribbean CBI programmes have withstood all the storms and have remained a viable component of the investment landscape, the Caribbean CBI continues to be relevant as there is demand for it in the global market.”
He explained that the selection of a scheme varies based on the profile of the client and the client’s requirements. “For those looking for a second passport and citizenship, the CBI based in the Caribbean remains one of the best options absolutely due to the possibility of getting a passport and citizenship in 4 months with almost no requirements such as no language test and no need to reside.”
He stated that "On the other hand European programmes such as Portugal, Spanish, or Greece’s programmes are more attractive to people who are seeking a Global residence in an alternative country in Europe.”
Citizenship by Investment Statistics of Caribbean countries is provided by Citizenship Invest Domincan Republic:
These without prior availability of the country shifted their minimum donation requirement to 200 000 dollars, compared to 100000.
The minimum for real estate acquisition, however, remains at two hundred thousand dollars. Antigua and Barbuda: The described changes resulted in extending the submission process by 30 days. Such Application invites ambitious potential members.
As of August 2024 The Max Center where the new rates commence at $230,000 for the fund contributions (was $130,000), $300,000 for the real estate investment (was $200,000).
Grenada: It requires minimum contribution which is $235 kin from the previous $150 dj. Grenada’s East real estate now starts at 270000 usd, ago of 200000 usd.
Saint Lucia: These donators paying starting amount of 240000 dollars as of November 201. Major reasons include more security of the country and convenience.
St. Kitts and Nevis: The minimum investment requirement stands at two hundred and fifty thousand us dollars donation amounts applicable for a single person to four persons families, which is cheaper than previous pricing of two hundred and fifty bitcoin for one person and three hundred and fifty thousand for a family of four. The real estate option remains hampered at $ 400000.
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