Trump Presidency Could Mean Windfall for Some States
Not many governments or citizens in the bloc of 15 nations in the Caribbean were hoping or praying to have to live with an administration led by Donald Trump, but his victory in the 2016 presidential election could mean a financial windfall for some countries, particularly those in the Eastern Caribbean.
For island nations such as Antigua, St. Lucia, St. Kitts and others where laws allow foreigners to buy citizenship and a local passport, Trump’s continued rhetoric about mass deportations, fears of racist attacks at the hands of some of his supporters and a poisoned political atmosphere could ironically serve to boost the so-called Citizenship by Investment Program officials say.
Hopes that dozens, if not hundreds, of foreigners will now be much more inclined to spend about $500,000 to buy citizenship and a passport, have risen at a time when Antigua and St. Kitts were both reporting an average 10 percent decline in “sales” of citizenship by foreigners. Dominica and Grenada also have similar programs.
Didacus Jules, director general of the nine-nation Organization of Eastern Caribbean States, is predicting that the change of administration in the U.S. will provide for a spike in programs for respective countries.
“Sometimes in what appears to be a crisis there are opportunities and we need to find those opportunities,” said Jules, urging people in the region to look for and to exploit any silver lining emerging from a Trump administration rather than bemoaning his win, the Caribbean Media Corporation quoted him as saying.
Meanwhile, Henley and Partners, the firm contracted by Antigua to organize and promote its economic citizenship program, has already noted a rash of inquiries from Americans and Caribbean nationals who are worried about their future and are exploring options to leave the U.S.
“Such spikes happen when citizens become uncertain about the future of their country,” said a representative of the firm. “They seek safer options for their families.”