It’s a prevalent misconception that citizenship through investment applications is only open to wealthy people and seasoned investors.
Anyone is eligible to apply as long as they match the program requirements, which include having a clear criminal history and making a minimal investment.
Citizenship through investment programs give honorable people the chance to gain new citizenship legally in exchange for investing in the economy of the host nation.
Finding a win-win solution for investors and the nations offering citizenship by investment programs is the major objective of these programs.
If an investor submits all required paperwork, passes all required due diligence checks, and makes the investment, the process should go smoothly.
The money invested is frequently used to raise the standard of living for citizens of the host nation.
Here’s A List Of Top 11 Countries You Might Want To Check For Citizenship Through Investment:
Global individuals everywhere seek to become more mobile and diversify their assets through profitable ventures in this rapidly changing world.
For many people, dual citizenship offers a way to achieve both objectives.
Here are some of the most well-known citizenship-by-investment programs currently offered by countries globally, with their prerequisites and advantages.
1. Antigua And Barbuda
The citizenship by investment Program for Antigua and Barbuda, established in 2013, requires a minimum investment of US$130,000 from single applicants, which is a $100,000 donation to the National Development Fund and a US$30,000 government charge.
If the applicant does not pass the country’s due diligence, 10% of the government fee which the applicant has submitted is not refundable.
The procedure takes around six months and contains fees associated with processing, due diligence, and registration certificates. Within five years of receiving citizenship, successful applicants must spend five days in Antigua and Barbuda territory.
To take the oath of loyalty, you must travel, typically done at the same time as the five-day residency requirement. There is no required language proficiency, knowledge-based test, or mandated interview.
The Austrian program began in 1985, and since each investment is evaluated individually, there is no set minimum investment amount.
The investment requirement is considerable, though, as candidates typically have to put up millions of euros.
Austria has one of the least transparent citizenship-by-investment systems in the world, making it challenging for potential applicants to understand. The lengthy citizenship procedure takes around two years.
Although there isn’t a legal residency requirement for the Austria CBI program, candidates are typically expected to demonstrate some level of presence there.
There is no necessary interview or test for language or culture. You could travel to 189 places if you had Austrian citizenship.
The citizenship by investment initiative in Bulgaria started in 2009. It offers a variety of investment opportunities, with ownership in a Bulgarian business that employs ten or more residents being the most cost-effective.
This investment amounts to about 257,000 euros. If choosing the fast-track option, applicants can apply for citizenship after around a year, albeit citizenship may take longer.
There must be two formal excursions, however, there must be no on-site presence throughout the residency term. You won’t be required to participate in an interview or take a language or culture exam.
The application process for citizenship by investment in Bulgaria is more challenging for applicants to navigate. This CBI program offers travel to 173 locations and allows for international mobility.
The citizenship by investment initiative started in 1996 with a one billion riel donation minimum. It is roughly equivalent to 243,000 US dollars. In this procedure, which lasts for three to six months, no external due diligence has, to public knowledge, been done.
The Oath of Allegiance, must be signed on a single visit. There is a language requirement and cultural understanding test, but there is no requirement for residency.
One of the more mysterious citizenship-by-investment regimes is of Cambodia, where very little is public about the application procedure.
Successful applicants are granted global mobility and travel privileges to 54 locations through the Cambodia CBI Program.
Since its inception in 1993, Dominica’s CBI program has required a minimum investment of $100,000 to be paid directly to the government, making Dominica the market’s most affordable citizenship by-investment scheme for single applicants, often known as the Economic Diversification Fund option.
A due diligence investigations are performed during the three-month process from application to approval in principle. There are no restrictions for travel or residence, language proficiency, interviews, or knowledge-based tests.
The candidate must be over 18 and of excellent moral character. Travel to 143 locations and international mobility are both possible for Dominica nationals.
You must contribute a minimum of US$150,000 to the nation’s National Transformation Fund to become a citizen of Grenada through investment as a single applicant.
The due diligence inspections are during the 90 days after the application is submitted and before/when it is approved. There aren’t any prerequisites for travel or residence, a required interview, a knowledge-based test, or a language requirement.
You must be of excellent moral character to apply, and those accepted will be given worldwide mobility and travel to 144 locations.
Malta provides investors with a preferential road to naturalization in exchange for particular services through direct investments, since most investments are donations to the National Social and Development Fund.
If an investor applies one year after obtaining a Maltese residency visa, the minimum contribution is €750,000; if they apply three years after receiving a residence permit, it is €600,000.
In addition, a candidate must buy or rent a home in Malta for five years. The annual minimum rental fee is €16,000 and the annual minimum purchase fee is €700,000. You can also donate €10,000 to charity.
An investor must own the property they choose to buy for at least five years. The investor can then recoup their investment by selling the property.
8. Nevis and St. Kitts
Being the first of its type, St. Kitts and Nevis citizenship by investment program is the oldest and most reputable CBI program in the world.
Single candidates may contribute as little as $150,000 to the Sustainable Growth Fund (SGF).
The standard path for obtaining citizenship in St. Kitts and Nevis takes roughly 90 days from application to approval. Under the country’s Accelerated Application Process, it can speed up the process to 60 days or fewer for a cost.
This program has no mandatory residency requirements, travel restrictions, or language requirements. Travel to 157 locations is possible for citizens of St. Kitts and Nevis.
9. ST. Lucia
St. Lucia began its CBI program in 2016 as the last Caribbean initiative.
It makes Dominica the cheapest program in the world, with a minimum donation of US$100,000.
Usually, the application will get a decision within three months after filing, whether it has been accepted or rejected. Candidates must be of excellent moral character and swear an oath of allegiance to St. Lucia.
There is no necessity to visit or live in St. Lucia, nor are there any interview or language requirements. You would be able to travel around 146 places if you were successful.
The most affordable investment option available through Turkey’s CBI program, introduced in 2017, is the purchase of real estate for $250 000 kept for a minimum of three years.
This makes the program more expensive than Vanuatu and the Caribbean islands, but more inexpensive than programs in Europe.
Three to six months are needed to complete the process. This CBI program has no residency requirements.
However, to provide biometrics, you must travel to Turkey.
The minimum investment amount for the 2017-launched Vanuatu Development Support program is US$130,000, of which 25% is not refundable.
Applicants must go through due diligence procedures throughout the two to three months it takes for applications to be submitted.
The Oath of Allegiance must be taken in one trip, although COVID-19 has temporarily deferred this requirement.
No formal language exam or interview is required, yet having citizenship grants you access to 133 locations and worldwide mobility.
Reasons To Consider Dual Citizenships
Read below to find out about the reasons why you need to consider dual citizenship.
Lifestyle and Accessibility: this encompasses social interaction, access to healthcare, education, and global mobility.
Financial Planning is about spreading your assets and wealth so your children can enjoy the benefits of each.
Having dual citizenship enables you to view the world of business more broadly. It increases your global footprint by enabling you to conduct international commercial transactions and integrating you into a global business network.
Security: This is about surviving. Since it is human nature to seek security, having dual citizenship guarantees, that you have a backup plan that will shield you and your family from difficulties down the road.
It is a win-win situation for the investor and the country. The nations use the investment to develop and increase the life quality for the citizens living in the country while the investor gets the benefits of dual citizenship.