Siobhan M.S. Lloyd is a legal consultant at Range Developments, a leading developer of ultra-luxury hotels in the Caribbean offering citizenship by investment opportunities. With over 20 years of experience in law and real estate, Lloyd has established herself as an expert in Citizenship by Investment (CBI) in the Caribbean. In this interview with Omolabake Fasogbon, she sheds light on the benefits of investing in Range Developments and its implications for global citizenship, focusing on opportunities for Nigeria and West Africa’s High-Net-Worth Investors comprising 40% of the company’s clients
With your experience spanning multiple Caribbean jurisdictions, what evolution have you seen in Caribbean Citizenship by Investment, particularly in St. Kitts, Dominica, and Grenada?”
Having worked in three Caribbean jurisdictions, I have observed the evolution of the Citizenship by Investment (CBI) programs. Initially, I focused on St. Kitts, known as the pioneer and the “Rolls Royce” of these programs, which had a minimum investment of $400,000 for real estate, targeting high-net-worth individuals seeking global mobility and legacy planning rather than purely economic incentives. However, as competition increased, the minimum investment for the real estate option was lowered to $200,000 to match the donation option, leveling the playing field across Caribbean CBI programmes.
Following the passing of hurricanes in some of the jurisdictions, Caribbean Citizenship by Investment programs shifted towards sustainable development-focused investments. Additional changes include: There have also been changes in the due diligence processes such as changes in submission of application form and mandatory interview for investors. The programme has witnessed threat of underselling by some developers which also extends the processing period.
Range Developments has been at the forefront of luxury hotel development in the Caribbean. How does it get to reconcile luxury, sustainability, and investor demands for second citizenship in the Caribbean?
By exploring partnerships with proven designers and hotel operators, we have successfully developed three luxury resorts across the Caribbean, with a fourth currently under construction. Thus, our investors not only enjoy many benefits of second citizenship, their investment affords them a share in our award-winning brands dedicated to sustainability and luxury. So far, Nigeria/West Africa contributes to 40% of our investors. As with any HNIs, our clients from this region demand efficiency and accountability, so, we not only focus on delivering on the construction and operation of our projects, but ensure that the process of obtaining second citizenship is as seamless as possible.
What benefits do investors gain from investing in Range Developments’ projects, both in terms of real estate and citizenship advantages in St. Kitts, Dominica, or Grenada?
A lot of investors prefer to avoid any stigma attached to the “buying of a passport,” our investors thus receive the respective catalogue of benefits of obtaining citizenship of St. Kitts, Dominica or Grenada including but not limited to citizenship for life for them, spouse, children, parents and siblings in a jurisdiction they are not required to reside in; visa free travel to 100+ countries. They also own a share in an our brand and during the 5-year minimum holding period, they are also entitled to a 7-night complimentary stay at one of our three hotels; while the exit options provide the ability to realize capital gain and income generation on investment.
The Caribbean offers a blend of lifestyle benefits and business opportunities. How do you combine this appeal to investors seeking financial return and a second citizenship?
By acquiring citizenship of Caribbean jurisdiction, investors are entitled to full residency and right to work. Caribbean countries are experiencing economic growth, driven by tourism, agriculture, renewable energy and technology, while governments have been making ongoing investments in infrastructure to enhance accessibility.
These are opportunities for secondary investment. By being in close proximity to North America, the Caribbean offers a strategic hub for trade. Many Caribbean jurisdictions offer low- or no-income tax, capital gains tax or inheritance tax. The Caribbean is renowned for its stunning beaches, warm climate and natural beauty making it an appealing place to live. Given the political stability of the Governments, the Caribbean offers a secure environment for investment.
How does your projects stand out to HNIs seeking citizenship opportunities at forthcoming Henley & Partners’ Investment Migration Roadshow?
We have a proven track record, with numerous successful citizenship outcomes and a significant portion of our business generated through referrals. Many of your invitees may already know someone who has invested in our projects and obtained citizenship.
As a Caribbean native with direct connections to government officials and program CEOs, I offer unique insights into the second citizenship application process in St. Kitts, Dominica, and Grenada. Potential investors can also visit any of our three operational projects to experience firsthand the quality of our developments, providing transparency and confidence in their investment decision.
Looking ahead, what trends do you think will impact Caribbean investment migration, and how will Range Developments stay ahead?
Who knows what the future holds? However, I would like to see the harmful practice of underselling eliminated from Caribbean Citizenship by Investment programs. This unethical tactic hurts our business and the industry. For us, we have succeeded by operating with integrity and transparency, and we will continue to do so.
Can you brief us on your transition j from legal background into specializing in hotel development and Citizenship by Investment programmes?
I initially aspired to be an architect, but fate led me to working with luxury hotel developer in St. Kitts, Dominica, and Grenada. After being called to the UK Bar in 2002, I practiced law in St. Lucia, focusing on criminal and civil litigation. In 2005, I joined an Anguillan firm, representing high-net-worth individuals investing in Viceroy Anguilla (now Four Seasons Resort Anguilla). This role introduced me to St. Kitts, where I became Legal Consultant for a Citizenship by Investment project. Through this, I met Range Developments and in the past 12 years, ensuring investors have a seamless experience obtaining second citizenship. I’m passionate about helping investors achieve their citizenship goals and fascinated by the intersection of Citizenship by Investment and Caribbean tourism/hospitality growth. My unique background allows me to balance investor and developer expectations, and I look forward to continuing to contribute to the industry.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=6701f900c6cc47dc8572d67542feb584&url=https%3A%2F%2Fwww.thisdaylive.com%2Findex.php%2F2024%2F10%2F06%2Flloyd-range-development-gateway-to-global-access-for-west-africas-hnis%2F&c=3842137882475017958&mkt=en-us
Author :
Publish date : 2024-10-05 15:40:00
Copyright for syndicated content belongs to the linked Source.
