Finding stability in a turbulent world

Thought Leadership by Kevin Hosam, Managing Director & Licensed Agent, Exclusive Concierge

I agree with the consensus of experts in the residency and citizenship by investment (RCBI) industry that having a Plan B should be at the top of everyone’s priority list.

People in war-torn, unstable countries are continuously trying to migrate in the hope of finding a better life. They participate in work-visa or refugee and asylum-seeking programmes which usually flood the gates of first-world countries in Europe and North America.

RCBI programmes were designed and created to attract high-net-worth individuals (HNWIs) who do not usually qualify as refugees or asylum candidates but recognise the need for a Plan B in a stable, business-friendly country or region. This industry has opened the door for welldeserving individuals who undergo strict due diligence checks to have a fair opportunity for a better life, increased freedom, an improved sense of security and the mobility they deserve.

In recent times, the world has returned to some level of normalcy after the C19 pandemic - well most of the world, that is. But lest we forget, at one point, some of the world’s strongest-ranked nationalities were barred from entering countries due to the high numbers of infections and the less-than-stellar response to the ongoing pandemic by their governments. The optics of the RCBI industry changed immediately for many first-world citizens with first-hand experience, prompting them to explore the idea of having a Plan B, in this case, a second citizenship, for uncertain times.

Over the past 50 years or more, the Caribbean region has, in general - and the OECS subregion, in particular - enjoyed relative peace, safety, and smooth, uninterrupted transition of governments.

Throughout the years of my career in the RCBI industry, I have been fortunate to participate in many expositions, tradeshows, conferences and seminars globally, addressing thousands of individuals about the options available for a more certain future. It is crucial that HNWIs who qualify for RCBI programmes consider not only their present situation but also the future of their current country of nationality. Politicians in most countries are elected to office; they propose, support, reject and create laws that govern the land and, by extension, its people. But unfortunately, some who are elected to office do not always govern in their people’s best interest, and much less can be said about those who assume the office of power through military force or even through religious belief. Unfortunately, a select few can lead a country to war, poverty and disrepair, leaving its citizens isolated through sanctions imposed by the rest of the world.

Developing nations are typically at the forefront of RCBI programmes. Many of these countries are trying to expand their economic growth by attracting foreign direct investment (FDI) through direct citizenship or golden visa/residency programmes, which affords the investor the right to live and expand their horizons within that country. It is important to note that countries offering RCBI programmes are generally politically stable and where elected officials are accountable to the people in the way that they must return to the voters at prescribed intervals to seek a new mandate to continue in office.

Typically, these countries are politically neutral, abstain from meddling in world politics, advocate against conflict and wars, and support resolution rather than aggravate misconduct.

Over the past 50 years or more, the Caribbean region has, in general - and the OECS sub-region, in particular - enjoyed relative peace, safety, and smooth, uninterrupted transition of governments. This small grouping of islands between the Atlantic Ocean and the Caribbean Sea continue to enjoy political stability characterised by free and fair elections. As members of international organisations such as the United Nations, World Bank, World Trade Organisation, and the International Monetary Fund, these islands have a track record of advocating for peaceful outcomes to conflicts and disagreements. Their citizenship by investment programmes are protected by law and, therefore, can only be changed by Acts of Parliament.

Given these facts, I would suggest that a Caribbean investment and subsequent citizenship should be part of any HNWI’s Plan B.