Citizenship by investment is simply acquiring the green card of another country through significant investments into the country’s economy. Investment comes with expectations; expectations such as an increase in value/huge profit or reward.
Imagine if your reward for investing in a country is having the country’s green card; does any reward seem greater? Well, that is what citizenship by investment stands for. You become a citizen of another country simply by investing. This post guides you through all that citizenship by investment entails, why invest in a second citizenship, how; and lots more.
Citizenship by investment is the process of becoming a legal citizen of a second country through venturing into businesses that generate income or creates jobs, massive input into the country’s development, and investing in government bonds alongside other types of investments.
However, the criteria for this differ in various countries and you must meet up with the criteria in your desired country.
A major benefit of this particular citizenship process is the expertise involved which births prompt and ease.
Citizenship by investment outshines other processes of acquiring citizenship (naturalization, birth, marriage to a citizen, etc.) as it saves time and incurs other benefits. This mode of acquiring citizenship was adopted in 1984 and remains valid in several countries to date. Therefore, it isn’t surprising that many wealthy and influential people will rather tour the path of citizenship by investment.
Why Invest in a Second Citizenship?
Maybe, the response should be: why not? The world keeps revolving, nothing is fully guaranteed, and tomorrow remains a mystery so why not attain second citizenship if you can. Second citizenship grants access to more business explorations, better health care facilities, safety for family, easy migration, escape route from insurgency, more educational programs, work permit, the list is indeed endless. Let’s delve into these a little.
Citizenship by investment guarantees more safety to the applicant’s family. Many of these countries often offers liberty for the main applicant’s family to relocate with him/her. Therefore, investors can successfully migrate with their spouses and children, they get to enjoy a better life, access better health facilities, enjoy world-class education and achieve a brighter future. All these and more are packages offered in citizenship by investment.
You can explore vast business opportunities as in most citizenship by investments programs. Once granted your green card, restrictions and embargos are lifted and you are allowed to host business parastatals as well as move more freely across the globe. Access to other profitable ventures are also made easier
Education remains a paramount key to success for any immigrant. Citizenship by investment grants easier access to world class schools and other institutions. What’s more? Applicants and family automatically enjoy domestic fees rate and all other charges placed on international students are ruled out.
One of the most essential need of man is security. Attaining a second citizenship into another country can be an escape route and relief in times of insurgency or political imbalance in one’s home country. This alone is most comforting for most investors and their families.
While some countries only permit immigrants to work at stipulated time and choices of jobs are much limited, as a citizen of another country, you are unhindered. You begin to enjoy the liberty to work anywhere and with no restriction to seasons/time.
Increased Global Mobility
Foreign workers and immigrants usually experience lots of inconvenience while acquiring visas to desired countries and this repeats itself as often times as the y travel. Citizenship by investment can offer increased global mobility to applicants and ease them of this herculean task. It takes away restrictions, for instance; the passport of UK grants visa-free-entry into 33 counties, while passport to Cyprus allows free visa entry into 164 countries. You can check here the visa free score of every passport in the world.
How is citizenship by investment attained?
Becoming a citizen of another country through investment involves processes. These processes differ as each country’s criteria vary, this births various investments program in each country. Below are some of the countries that offer citizenship by investment and the processes involved.
1. Turkey: Turkey is a transcontinental country; it has regions in both Asia and Europe. Its capital city is Ankara. Turkey is one of the countries that offers citizenship by investment, it announced its citizenship by investment in 2016. To acquire Turkish citizenship via investment, a foreigner must deposit at least 500,000 USD or equivalent in foreign currency or Turkish lira (Turkey’s legal tender) in banks operating in Turkey for three years. A foreigner can also acquire her citizenship by investing in Real Estate. A purchase of property that is worth a minimum of 250,000 USD can guarantee you a Turkish citizenship. The children and spouse of the investor will equally be granted citizenship. Another investment that can guarantee a foreigner, citizenship, is Capital Contribution. A foreigner can invest a minimum of 500,000 in a fixed capital contribution. A Turkish passport holder can travel to about a hundred countries without applying for a visa. Some of the countries are Qatar, Tunisia, Jordan, Iraq, Ecuador, El Salvador, South Korea, Malaysia, Singapore. Turkey has a E-2 Visa treaty with the USA, which means Turkish citizens are eligible to apply for US residency, through the E-2 Visa programme. An E-2 visa treaty investor is a non-immigrant visa reserved for foreign entrepreneurs of countries that have a Treaty of Trade and Commerce with the United States.
2. Grenada: Grenada is a Caribbean country. Its citizenship by investment programme offers investors a second citizenship and a visa free travel to over 150 countries such as the UK, China, Schengen and some European countries. Grenada passport holders can also gain entry into the US with an E-2 Visa treaty. To qualify for this, an investor needs to invest either $150,000 as a donation or $220,000 in a government approved real estate project and maintain the property investment in Grenada for at least 5 years.
3. Dominican: Dominican Republic is a country in the Caribbean region with a population of 10.8 million. Citizenship by investment in the Republic of Dominican is made available in two different options. The first option is by making an investment in the country’s real estate. This option was made available in January 2015, while the second option is by making an economic contribution (donation) to the country under the government’s investor visa programme.
4. Malta: Malta is a European country with a population of about 516,000. Its capital is Valletta. Malta gained its independence from the United Kingdom in 1964 and became a Republic in 1974. Malta has been a member of the European Union since 2004, and became a part of the Eurozone monetary union in 2008. Its currency is euros. Malta’s citizenship investment programme is for highly rich investors. Malta’s citizenship can be acquired by investing a minimum of 600,000 euros to the national development fund set up by the government and a proof of 36 months of residency. Another way of obtaining citizenship is by making a contribution of 750,000 euros and evidence of 12 years of residency. An investor must also buy a residential property worth 700,000 euros or lease a residence with a rental value of 16,000 euros annually. An investor applicant is also required to make a compulsory donation of 10, 000 euros to a registered philanthropic, cultural, sports, scientific, animal welfare, or artistic non-governmental approved organization or society. An investor and his family must also be in good health.
5. Portugal: Portuguese citizenship can be gotten through investor visa programme launched in 2012. An investment of 500,000 euros (280,00 or 350,000 reduced option) in real estate in Portugal will gain a residency permit for investors and their family. This visa can be renewed every two years. Having lived in Portugal for five years, the investor and his family can apply for citizenship. Greek passport holders can travel to 187 countries without obtaining a visa or being granted visa on arrival. These countries include European countries, Belarus, Bahamas, Barbados, Algeria etc.
6. Greece: Greece is a country is Europe with a population of 10.7 million. Greek citizenship can be gotten through golden visa programme launched in July 2013. A five-year residency visa is granted to an investment who makes an investment in the country’s real estate. The residency visa can be renewed every five years and citizenship can be granted after seven years of residency. Greek passport holders can travel to 186 countries without obtaining a visa or being granted visa on arrival. These countries include most of European countries, Brazil, Belize, Canada, Bolivia etc
7. Spain: Spain is a European country with a population of 47.4 million people. You can acquire Spain’s visa through investment which can help you get permanent residency. An investment of 500,000 Euros in Real Estate qualifies the investor for a golden visa. Spanish citizenship can be gotten after an investor has spent at least ten years in Spain. Spanish passport holders can travel to 194 countries without obtaining a visa or being granted visa on arrival. These countries include most of European countries, Brazil, Belize, Canada, Bolivia, Indonesia, Cambodian and more. Learn more
Are there risks involved in citizenship by investment?
For wealthy and influential individuals, citizenship by investment seems most secure means of attaining the citizenship of another country. The risks are indeed limited, what is most important is having an international professional lawyer guide you through the whole process.
It is also noteworthy that not all countries permit dual citizenship, therefore, look before you leap. Citizenship by investment programs in most countries scrutinizes the source of income of applicants. Therefore, ensure your income is legit and you are free from any scandal. You won’t want to be caught in the web of illegal saga.
Citizenship by investment might not be cheap but it is one way to obtain citizenship. See the best countries you can invest in. Learn more…