How to obtain foreign citizenship or a residence permit, what advantages can be derived from this – both entrepreneurs and people far from business continue to be interested in these issues.
This interest is often mutual: many countries are interested in the influx of wealthy citizens and highly qualified specialists. More than 30 states have launched programs that allow you to obtain citizenship or residence permits in exchange for investments quickly.
Citizenship by Investment programs attracts many wealthy people looking to add a second passport to their portfolio. Such a document simplifies international business, as well as investing and opening bank accounts around the world.
In 1984, Saint Kitts was one of the first to issue citizenship by investment. Later, in 1993, neighboring Dominica joined it. After the global crisis of 2007-2008. The demand for these services has increased significantly, and other jurisdictions have begun to offer them.
There can be a variety of reasons for seeking another passport or residence permit. For example, a passport from an EU country allows you to visit more than 150 countries freely and without visas. It is an opportunity to provide yourself and your family with qualified medical care, receive or give children a high-quality education, do business in economically developed countries, allowing you to preserve and increase capital, and also use the latest banking products and financial instruments. Finally, a second citizenship can be a kind of guarantee of stability in case the conditions for living or doing business at home deteriorate.
Visa-free travel around the world is one of the main benefits. The more countries “open” the second passport, the more interesting the international market’s CIP.
The second citizenship allows you to immigrate to the chosen country anytime, although it does not oblige you. Moreover, an EU country’s citizenship makes it possible to live and work in the Union. For instance, many become Cypriots or Maltese and spend most of the year in mainland Europe.
The second passport does not automatically make the foreigner a tax resident of the new country, but it simplifies the tax planning process.
Holders of investment passports receive the same rights as all other citizens. The most valuable thing for investors, as a rule, is simplified access to international education for children and quality medicine. Also, all prohibitions that may be imposed on foreigners on doing business or buying real estate are removed.
There are approximately one and a half dozen jurisdictions that offer CBI. These are:
By investing money, investors can arrange not only for themselves but also for their dependents, including wives or husbands, parents, children, stepchildren, grandparents, brothers, and sisters.
The eligibility requirements for citizenship by investment programs vary. their list usually includes the following:
In this case, it is not necessary to pass exams on knowledge of history and legislation, language tests, as is the case for persons applying after many years of naturalization.
For participation in all immigration programs, the following algorithm of actions is characteristic:
The client receives the first consultation. The immigration agent checks that the client meets the requirements of the immigration program, and also conduct his own due diligence.
Since you can apply for second citizenship for money only through a licensed immigration agent, it is necessary to pay no less attention to choosing such an agent than finding the best country to apply for citizenship for money. The best agent will help you achieve your goal, spending a minimum of time, money, and nerves.
When thinking about how and where you can easily get a new residence permit, you should always keep your overall strategy in mind. Taxes, the possibility of obtaining citizenship, quality of life, minimum investment, requirements for physical presence – all these are factors that must be taken into account when deciding whether to apply for a residence permit in a particular place, no matter how simple the process itself.
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