Jamaica: Jamaica Sotheby’s honcho calls for automatic citizenship for international investors
Published: 9 October 2021
Chief Executive Officer of luxury real estate company, Jamaica Sotheby’s, Julian Dixon, is calling on the Government of Jamaica to change the laws and grant immediate citizenship to large investors.
Speaking at the official launch of Jamaica Sotheby’s at AC Marriott Hotel in New Kingston on Friday, Dixon argued that the law change would attract international investors to Jamaica, which will help to grow the island’s Gross Domestic Product (GDP).
“It’s an easy way to attract much needed foreign investment by legally conferring citizenship to individuals seeking to invest in the economy,” Dixon said.
Several countries in the world, have adopted the citizenship by investment policy, in which individuals with capital can invest in that particular nation and is granted immediate citizenship.
There is, however, a minimum level that can be invested to gain citizenship, which varies depending on the country. Spouse and family members are also included.
According to the website citizenshipinvest.com individuals can acquire immediate citizenship status by an initial investment between US$100,000 to US$150,000 in Caribbean countries St Kitts and Nevis, Grenada, Antigua and Barbuda, Dominica and St Lucia.
Meanwhile, Dixon said Jamaica will benefit significantly from Sotheby’s international profile and huge listing inventory of properties. She said Sotheby’s website will play a major role with propriety listing index algorithms for precise searches.
“We are staying true to the Sotheby’s mission of delivering the highest quality of service and results that exceed the expectations of an elite clientele, every transaction, every day,” Dixon said.
According to Minister of Finance and Public Service, Nigel Clarke, Sotheby’s introduction to the local market is a part of Jamaica’s open market policy, which brings investments to Jamaica.
“What we are celebrating is the potential for opening up the Jamaican opportunity to a much wider audience than previously would have paid attention to Jamaica and that is indeed something to celebrate and it is indeed good news,” Clarke said.
He opined that the investment in a time of the COVID-19 pandemic is showing confidence in Jamaica’s future, especially with Dixon being a young entrepreneur.