If you’re looking to obtain a second passport or residency through investment, there are specific requirements you need to make, and different benefits are associated with the passport you require. With some, individuals can register their businesses, work, and live in an array of locations. In some, citizenship passes on to generations or other family members. Yet, no two Citizenship by Investment programs is alike.
In this blog, we are going to list down for you the ten best of these programs for 2020.
The following were evaluated according to 10 indicators: reputation, quality of life, visa-free access, processing time and quality of processing, compliance, financial requirements, residence requirements, relocation flexibility, physical visit requirements, and transparency.
Turkey is a transcontinental Eurasian country, with territories both in Europe and Asia, the fact that makes it a special country with beautiful landscapes and four seasons with a Mediterranean climate. Having one of the richest histories, culture, traditions, and unique tastes of food, Turkey attracts almost 40 million tourists every year, ranking as one of the most popular tourist destinations in the world. Turkey launched its citizenship by investment program in 2017. Foreign investors qualify for Turkish citizenship by buying $ 280,000 USD worth of real estate in Turkey or through the financing option of just $ 168,000 USD available exclusively at Vazir Group. As of Jan 2020, the Turkish passport has visa-free access to 111 countries globally.
Dominica island in the Caribbean has a citizenship by investment program since 1993. It is known for its safe, happy and vibrant lifestyle. The cost of living is viewed as average for the Caribbean region, excellent natural surroundings and abundant hydro and geothermal resources mean it provides a lower cost of business. Abundant resources allow a level of self-sufficiency not often found in the Caribbean and yet it is modernized with high-quality educational facilities. It requires 100,000 USD Government Donation or 200,000 USD real estate investments to qualify for becoming a citizen of Dominica. Processing time is 3-4 months and there are no residence requirements nor any need to visit the country to get citizenship. As of 2019, Dominica's passport has visa-free access to 139 countries.
Saint Kitts and Nevis has the oldest citizenship by investment program in the world. It offers several avenues for investors to secure a full citizenship for themselves and their families through economic contributions. Participation in this citizenship by investment program provides investors with lifetime citizenship that passes to future generations. It requires 150,000 USD one-time government contribution or 220,000 USD real estate investments to qualify citizenship. No residency requirements or visits are required to get the passport. 90 days fast-track application process and as of 2019, Saint Kitts passport visa free access to 154 countries in the world!
Grenadacitizenship by investment program is very fast and beneficial. Approved applicants could receive citizenship after 90 business days from application. Grenada also has an E-2 Investor Treaty with the USA, enabling citizens to own a business in the USA and reside there. Grenada passport is now visa free travel to 142 countries including UK, EU, Schengen Zone, China, Hongkong, Singapore, and UAE.
Antigua and Barbudais a beautiful Caribbean country that offers citizenship within 3-4 months from application. It requires an investment starting from 100,000 USD as a Government Donation or 400,000 USD as a real estate investment to become a citizen. There are no residence requirements to get the passport, but when you renew your passport after expiry in 5 years, you must have visited Antigua and Barbuda for 5 days in the previous 5-year period. Antigua and Barbuda passport have visa-free travel to 150 countries.
PortugalGolden Visa Program offers a residency 4through investment. The investment may be of 350,000 in Real Estate property (if it was built more than 30 years ago or is located in areas deemed as urban regeneration areas by the local municipality). The program requires a minimum 7 days of residence in Portugal for the 1styear and 14 days in subsequent years. Individuals who maintain their residency permit for 5 years may apply for Portugal citizenship. Portugal allows visa-free travel to 185 countries including the Schengen countries.
Malta, a European Union country, has its Residency Program and is one of the top-ranking citizenship-by-investment programs in the world. Great year-round weather, a lower cost of living, beautiful landscapes, a large expat community from the UK and EU countries.It takes about 3 to 4 months to get Maltese residency and has visa-free access to all Schengen countries.
Cyprusis at the crossroads of Europe, Africa, and Asia and is one of the easiest countries in the European Union to gain citizenship. An individual can become a Cypriot citizen by investing in the country’s economy. Cyprus requires an investment of EUR 2.9 MIL investment in real estate, bonds, or in enterprise projects or at least EUR 688,000 if you go for the financing option available exclusively at Vazir Group. You have to visit the country just to receive citizenship. Application processing time is about 7 to 10 to get the Cyprus passport after the investment.As of Jan 2020, Cyprus passport allows visa-free travel to 173 countries.
The Greek Permanent Residency Golden Visa Program offers a pathway to secure permanent residency in Europe via an affordable real estate investment in Greece. Of all European residency program, Greece offers the most cost-effective investment. As a Greek resident, you’re allowed to live in Greece permanently and travel visa-free across the Schengen Zone. The application process is straightforward and should take about 4 to 7 months. After 7 years of continuous residency, the applicant may apply for citizenship, providing that all of other conditions are met.
Low tax and inflation rate, top-quality health and education systems as well as one of the most peaceful countries in the world, Canadaoffers business or working opportunities for Permanent Residency followed by Citizenship. The Entrepreneur Permanent Residency Program allows applicants to get Permanent Residency by starting up a small business in Canada. Foreign Worker Programis the fastest program to immigrate to Canada by relocating with a secured job along with your family.
WHY INVEST IN A SECOND PASSPORT?
Each country has its own process, so the requirements will vary slightly depending on the program you choose. Some countries do not require at least one visit, or even long-term physical residency before they grant citizenship. Factors that can influence your decision are whether you intend to relocate or not, equally the type of investment you intend to make is important and can require a thorough examination of potential returns.
To learn more about all of your options and discover the long list of benefits to be enjoyed through support from experts in Citizenship by Investment programs, book your free consultation today.