More and more families are interested in immigrating to a new country that offers a higher standard of living and more opportunity than their home countries. However, there is considerable confusion about the various programs available, especially residency by investment/citizenship by investment vs immigration by investment.
The most important clarification is that both residency by investment and citizenship by investment are a form of immigration by investment. These programs help individuals and families find a new home where they can thrive and enjoy visa-free travel, as well as excellent education and healthcare options.
Citizenship by investment programs have been popular for quite some time because they can offer investors a path to second citizenship through direct investment in a country’s real estate and official investment programs. Your wait time may be only six months to receive your new passport, which may also include your immediate family, such as spouse and dependent children. Upon receiving your new citizenship, you can start to enjoy its benefits, which can include reduced-cost or free healthcare and education, and visa-free travel to a wider range of countries.
For example, Cyprus offers one of the longest running and most popular citizenship by investment programs in the European Union. The program doesn’t have a residency requirement and there is no language test. Applicants must invest at least €2.5 million in real estate purchases, Cypriot companies, or investment funds. Alternatively, you can apply through our finance option program, starting from EURO 620,000.
Residency programs offer applicants resident status in a country without necessarily pursuing citizenship. With residence, you have the right to live in the country and may have the ability to travel or live visa-free in other countries.
Residency programs can be split into two distinct types. Residency programs which are renewable after a certain number of years or Permanent Residency where successful applicants have residency of that country for life who do not need to reapply after ‘x’ years - Canada being an example of one country offering Permanent Residency.
Obtaining residency can take as little as three months depending on the chosen country and the type of program offered. For example, Malta’s long-running residency program offers applicants a five-year residence permit that is renewable indefinitely and does not require relocation to the country. Residency can also be obtained through financing investment options starting from EURO 99,000 for the entire family.
Permit holders can travel visa-free throughout the Schengen Zone, have the right to reside in another EU member state, and have the option to include up to four generations of the family per application. Though applicants have the ability to later apply for citizenship.
Gaining permanent residency is also an easy process with Vazir Group and can be achieved through either the Canada Investment Program or Canada Entrepreneur Program. For more information about applying for Canadian Residency, read our blog ‘Your Future in Canada: Understanding the Canada immigration process from UAE’.
If you and your family have decided to relocate and want to learn more about immigration by investment programs, Vazir Group is here to help. For more information about your options, contact a representative on +971 4 243 8581.