Tips On How To Get Citizenship With Investment

It is great to live in a good country. But things change and you may need to live in a different country. Sometimes, your home country may not even have a problem. You may just be a business owner who wants to expand their operations.

Sometimes to achieve these goals, you may need a second passport. A passport that will complement your home passport and make it possible for you to travel widely to build your business or escape a falling economy or political change.

There are many methods you can use to get your second passport. Citizenship with investment is the fastest and most suitable for high net-worth individuals.

What Is Citizenship by Investment?

Citizenship with investment is a program used by many countries to attract both investment and new citizens.

This program involves making a sizable investment in stipulated sectors of the economy. In return, you are rewarded with citizenship status. Your second passport from your new home country is ready in a matter of months after the application.

Several countries in the European Union and the Caribbean offer this program to foreigners. It helps them to attract much needed foreign investment and a boost in their population numbers.

One of the major benefits of applying to a citizenship with investment program is that it helps you build investments in a foreign country.

Often, countries using citizenship with investment programs to attract foreign investors have a stagnant and growing economy. Taking up this program means that as an investor, your investments are likely to grow in value over time.

You can then sell them when the time is right to make a substantial profit.

Stable EU Countries that offer the Golden Visa

When looking for a second passport, look for one that offers you a large selection of countries that you can travel to.

Countries that offer citizenship with investment programs in Europe and the Caribbean have powerful passports. Powerful in the sense that you have access to hundreds of countries around the world that you can travel to visa-free.

As a business person, you can easily set up a global operations business with a powerful passport. You can access new countries and regions to set up and run your business.

You also have the benefit of accessing several embassies if you have a problem in a foreign country.

The Portugal passport is ranked among the most powerful. This is because you have access to over 186 countries visa-free as holders of the passport.

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Stable EU Countries that offer the Golden Visa

A second passport provides the opportunity to the holders to live and work in a more politically and economically stable country.

For example, if you get your second passport from Portugal known as the Golden Visa Portugal, you have the opportunity to live in any other EU country of your choice.

If your home country doesn’t have much economic opportunity, you can make your move to another country easily. Move to a country where you can set up and build and grow your business easily.

The more economically and politically stable a country is, the more attractive it is to investors.

Entire Family Is Eligible

Another benefit of using citizenship by investment programs is the fact that the entire family is eligible.

Depending on the country you are applying to, you, the investor, your spouse, and unmarried children can receive citizenship in this method. If you have dependent parents over 55 years, they can also be eligible for citizenship under your application.

All you have to do is meet the cost of the application for the other members of your family. The cost of application varies from one country to another.

Tax Planning

When your home country encumbers you with high levels of taxation, you can easily move to another country where you can better plan your tax issues.

Many countries that offer citizenship with investment also attract investors with favorable tax rates known as the NHR in Portugal. In your second passport country, you could reduce the amount of tax you also pay at home.

A tax reduction implies an increase in disposable income. Thus you can invest or spend more as you now have more income.

Tax rates in the countries running this program have a lot of influence on whether investors will apply.

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Requirements To Qualify For Citizenship With Investment

When countries resort to citizenship with investment programs, they need foreign investors. Thus they don’t have a lot of restrictions to the program to attract more investors.

Usually, when countries running these programs have attracted a large number of investors, they change the rules. Making them more restrictive and unattractive. This then lowers the number of investors applying to the program.

  • To apply to a citizenship with investment program, here are some general requirements that every investor needs to meet.
  • They should be at least 18 years of age
  • They should have a clean criminal record in both their home country and their potential second home.
  • Investors should make the stipulated investment as required by the program. These programs usually set a qualifying investment level.
  • Provide proof of legal source of income. Citizenship with investment programs don’t want to attract corrupt government officials from foreign countries or criminals. Thus applicants should prove that their source of income is legal.

Countries That You Can Get Citizenship With Investment From

Portugal Golden Visa

Portugal runs a successful and popular Golden Visa program. It is open to all non-EU citizens. To qualify, you need to invest a minimum of Euro 280,000 in real estate. This investment allows you and your family to apply for residency in Portugal.

Once you receive your residency permit, you have to renew it as provided. At the end of the first year, then, after every two consecutive years. To keep your residency, you need to hold onto your investment for five years and meet the minimum stay requirements provided.

After the five year residency, you can now apply for Portuguese citizenship. You will have a passport in about 12 months. Learn about the new 2022 law change for the Portugal Golden Visa.

Spain Golden Visa

Spain also runs a popular Golden Visa program. To qualify, you need to invest a minimum of Euro 500,000 in real estate. This allows you and your whole family to apply for the Golden Visa. Spain allows your spouse and children and even elderly dependent parents to apply as part of your dependents.

Once you have applied, you only have to wait for about three months before you receive your residency permit. It is valid for five years and has to be renewed after the first two years, then again at the fifth year.

One advantage of the Spain Golden Visa is that it doesn’t have any minimum stay requirements. Only that you have to renew your residency Permit in Spain. Thus you can live elsewhere as long as you keep your investment and renew your residency permit on time.

Once the five years are over, you can renew your residency permit for another five years. Spain allows you to apply for citizenship after ten years of residency, with a consecutive six months lived in Spain for each year.

St Kitts And Nevis Golden Visa

The citizenship with investment program from St Kitts and Nevis, an island country in the Caribbean is the original citizenship program.

It started in 1984 and its success was followed by the introduction of more citizenship with investment programs by other countries.

To qualify for a St Kitts and Nevis passport, you need to invest a minimum of $400,000 in government-approved real estate and a donation of $150,000 to the country’s Sustainable Growth Fund.

Once your investment is verified, you will now apply for the passport. The application is fast and straightforward. Two months after the application you will receive your St Kitts and Nevis passport.

Antigua and Barbuda Golden Visa

Antigua and Barbuda also runs a successful citizenship with investment program.

There are three methods you can use to qualify for the Antigua and Barbuda program. You can invest $400,000 in government-approved real estate. You can also contribute $100,000 to the National Development Fund or an approved charity. You can also start a business by investing $1.5 million.

With this passport, you can access Hong Kong, Singapore, the UK among other premier destinations visa-free.

Malta Golden Visa

This a European Union country that has been offering citizenship with investment for a long time. European Union countries attract hundreds of investors. This is because a citizen of a European Union country can live and work in any other EU country. Also, you are free to travel across the EU visa-free.

To qualify for the Malta citizenship with investment program, an investor is required to invest Euro 1.15 million.

This investment is divided up into three parts. First, you will have to donate Euro 650,000 to the Maltese National Development and Social Fund. You will then invest Euro 350,000 in real estate and invest Euro 150,000 in government bonds.

This will qualify you to apply to the program. After application, you have to wait 12 months before you can get your Maltese passport.

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Countries With The Most Powerful second Passports

A passports’ power is determined by the number of countries its holders can get visa-free. The more the countries the more powerful the passport.

Here are some of the countries with the most powerful passports around the world.

  • With this passport, you can access 191 countries visa-free.
  • Singapore passport provides visa-free access to 190 countries.
  • South Korea and Germany have the third most powerful passports in the world allowing you visa-free access to 189 countries.
  • Portuguese passport investment allows you visa-free access to 186 countries.
  • Sweden offers visa-free access to 179 countries.

The above are the top 5 most powerful passports in the world.

The least powerful passport in the world is the Afghan passport. It offers visa-free access to 26 countries. Preceding it are Iraq’s and Syria’s which offers visa-free access to 28 and 29 countries respectively.

Frequently Asked Question On Citizenship With Investment

How Long Does It Take To Get A Citizenship With Investment Passport? 

How long it takes to get a passport depends on the country that you are applying to. Each country has its processes that it follows before issuing a passport. Also, the number of applicants pending in the list determines how long it takes before passports are issued.

Malta, one of the popular European countries offering citizenship with investment programs provides its passport to applicants after 12 months.

For many Caribbean countries offering the program, applicants get their passports between 2 and 6 months after applying to the program.

How Do I Choose The Right Citizenship With Investment Program?

Many people seeking a second passport often ask this question. They want to know how to choose the best citizenship with investment program.

To choose the best citizenship program for a second passport, you need to know why you are looking for a second passport.

If you are looking for a second passport to enable travel around the world, then you need to choose a citizenship program that offers visa-free travel to as many countries as you would like to visit.

If you are a business person, choose a second passport that allows you to set up your business and manage operations easily in other countries. For example, you can choose a European passport as it allows you to live, work and travel across European countries with ease.

Is It Legal To Hold Two Passports

Having citizenship in two countries is known as dual citizenship. Across the world, many countries have accepted that their citizens can hold dual citizenship. There are only a few countries in the world that don’t currently allow for dual citizenship.

When looking to get a second passport, find out whether dual citizenship is legal in your country. If it is not, you can choose to renounce your home country or not go for a second passport. Make sure that you won’t make a decision that you will later regret.

Are There Instances When My Application For Citizenship With Investment Can Be Refused?

Different countries have different requirements for those interested in their citizenship with investment programs. All applicants must meet the set requirements if they want to be approved for a passport. Failure to meet the requirements may disqualify applicants.

After application, countries carry out due diligence on their applicants. They do this to find out the truth of the information filled in the application forms. When they find that some information isn’t true, the applicant is likely to be denied citizenship.

How Will A Second Passport Benefit My Family

All the countries that offer citizenship with investment programs ensure that investors or applicants can apply together with their families. You can include your spouse and dependent children in your application.

This ensures that when you become a holder of a second passport so do your children. This means that you can build a better future for your entire family in two countries.

Education levels in many of the countries providing citizenship with investment programs are quite high. The quality of life in the countries is also much better than in many countries.

Thus, acquiring a second passport makes it possible to enhance the quality of life for your family.

Am I Liable To Pay Taxes In My Second Passport Country?

All Caribbean countries that offer citizenship with investment programs don’t impose taxes on wealth, inheritance, foreign income, or capital gains. However, if you reside in the country, you will be liable to pay taxes. Also, if you decide to reside in the country, you will not pay as much in taxes as the tax rates are low.

What Is The Difference Between Citizenship With Investment Program And A Golden Visa Program?

Citizenship with investment is a program that gives its applicants citizenship in a foreign country.

A Golden Visa program offers residency to the applicants. Golden Visa programs may also lead to citizenship. However, they are not as straightforward as citizenship with investment programs.

As a Golden Visa program applicant, you will get a residency permit in your chosen country. You have to renew the residency permit according to the timelines provided by your host country to keep it valid.

In most countries, you can apply for citizenship once your residency period is complete. In Portugal for example, you can apply for citizenship after five years of residency.

Golden Visa programs also take longer than citizenship with investment programs. Many citizenship programs take two months to process. Golden Visa programs take about six months before you get your residency permit.

Do I Have To Do The Applications On My Own?

You don’t have to.

There are many agents and consultants that you can use to assist you. They help to make your work easier when making the applications.

Through your agents, you can get a high-quality investment property. A property that you can invest in not only for the citizenship program but also as a business.

Immigration agents and consultants also help you to come up with the best citizenship program for your unique needs. You don’t have to waste time trying to figure out the best program for you while you have partners who can advise you.

Your immigration agents can also help you to get the best managers for your investment property.

When you use an agent, they can notify you when your documents are ready. They will even have your passport delivered to you when it’s ready.

What Are The Requirements For Application For Citizenship With Investment?

Different countries have different requirements for those applying for citizenship with investment. Once these requirements are satisfied, then one is eligible to apply to the program.

General requirements that are common with all the programs include. The applicant must be at least 18 years of age. The applicant must also have a valid and legal source of income. Criminals and people of questionable income sources are not allowed to apply.

Further, applicants must ensure that they have clean criminal records. This means that they don’t have any criminal convictions on their police records. Thorough due diligence is carried out on every applicant to ensure that citizenship is offered to outstanding individuals.

Further, applicants need to engage government approved agents and consultants to help them fill out the forms and carry out the process accordingly.

What Are The Benefits Of A Second Passport?

When you have two passports, you don’t have to worry about travel. With a superior passport, you have visa-free access to hundreds of countries making it easier to travel.

In case of political upheaval in your home country, you and your family have a place to run to. You can also get the opportunity to seek more economic opportunities freely in your second country of residence.

You can also use your second passport to help expand your business beyond your home borders into other territories.

Conclusion

Getting into citizenship with investment programs requires you to know why you want to be in one. Get the best advice from professional agents who will help you identify your needs and choose the best country to get a second passport.

For ease of application, get to know what the qualifying investments are or donations you need to make in a country. Donations are much cheaper methods to make a valid investment to qualify for citizenship with investment programs.

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