Turkey has increased the minimum property investment for citizenship by investment to USD 400,000 New Zealand has made changes to Investor plus program requiring $5 million investment Theres been a big uptick in second passport applications since COVID-19 hit. Note: Cyprus and Moldova closed their CBI schemes. Higher points are assigned from easy to difficult. Scored low in CBI transparency, no voting rights and program slightly expensive by compared to AB and SL, Grenada consistently ranked in top three spots in our rankings table despite topping for the 2019 rankings. UK Citizenship by Investment also referred to as the Tier 1 Investor Visa is the primary route foreign investors can take to obtaining settlement in Britain, with a fast-track pathway to British citizenship possible. An investment of at least 5,000,000 enables the investor to apply for permanent residency after three years of residing in the UK. These countries may not be allowing Americans in, but they still allow their own citizens and legal residents in. The Maltese passport is also by far the best passport of all the available options (short of Austria, which does not have a real, explicit citizenship-by-investment program). After a certain period (typically 3 to 7 years), countries usually allow investors to sell the property. Along with needing an adequate business idea, you must submit a business plan and evidence that you are involved in the business, as well as evidence of your qualifications and experience in running a business; Provide proof that you have the required funds to live in Britain. Overview Residency by Investment Citizenship by Investment For High Net Worth Investors For Certified Partners For Government Agencies Dual Citizenship Guide Programs Overview Antigua & Barbuda Bulgaria Quebec, Canada Cyprus Dominica Grenada Hungary Montenegro Portugal Saint Lucia St. Kitts & Nevis United Arab Emirates United Kingdom USA EB-5 Tools St. Kitts introduced a new discounted donation option that saves single applicants $100,000 and families of four just over $100,000. But none of the programs in the Caribbean (except Grenada) currently allow citizenship to be awarded to a third generation so your children wont be able to pass their St. Lucian citizenship to their kids. Thats an obvious downside. While exact details around the new programs specifics are yet to be issued, it is being described as a New Alternative Investment Option (AIO). On a bright side, five years later, St. Lucian government should pay you the $250,000 bond amount back, so your final cost for the passport will just be the fee of $37,500. We have assigned scoring for countries offering state issued bonds for the purpose of citizenship. You can get more details on Maltas official citizenship by investment website. Its definitely worth your while to sign-up, and if you dont like it, you can unsubscribe at any time. They first dropped in price after the 2017 hurricanes badly damaged a lot of the islands. But beware, not all economic citizenship programs are created equal, and the internet is full of charlatans promising the impossible. The hold period ended in early 2020, but the government of Montenegro confirmed that the program will be extended through the end of 2021. Still, if youre interested in it, weve included a link toAntigua and Barbudas list of approved business projects. The final option is to invest a minimum of $500,000 in government bonds, which is currently discounted 50% under the COVID-19 relief program. If you apply in the United Kingdom, the deadline will be extended to eight weeks. In this UK Investor Visa, you'll learn about the following: What the investor visa is Investment requirements for the UK visa But, some are nothing more than unqualified snake oil salesmen trying to make a fast buck. Malta, an island nation off the coast of Italy and member of the European Union, was the subject of an investigation regarding "loopholes" in its citizenship by investment application. This discount of $45,000 expired on December 31, 2021, and the minimum standard SGF contribution for up to a family of four is now once again set at $195,000. Obtaining a second passport could be one of the best investments youll ever make. The least expensive option is a $100,000 donation to the country's National Development Fund. (For reference, the worlds worst passports provide visa-free access to 60 countries or fewer.). This visa is available to any senior executive of a foreign firm that did not previously have a commercial presence in the UK. Generally, you can apply for direct citizenship by investment programs, which grant citizenship within a few months in exchange for a foreign direct investment, usually in approved real estate projects. Join over 100,000 subscribers who receive our free Notes From the Field newsletterwhere youll get real boots on the ground intelligence as we travel the world and seek outthe best opportunities for our readers. Applicants from wealthy Americans surged in 2022, according to Henley & Partners. If you want to go this route, the passport payoff is certainly there. Non-EU citizens first deposit 1,000,000 Bulgarian lev (about $560,000) into a government bond portfolio. You can get more details on Grenadas official citizenship by investment website. And back in 1989, Grenada signed an agreement with the United States allowing Grenadians to work and live in the US under the E-2 Investor visa treaty. The Schengen area comprises 26 European states (not all of them are in the EU) that have officially abolished passports and all other types of border control at their borders, so traveling among them is akin to traveling from California to Texas, or from Quebec to Alberta. All five nations offer respected and solid Citizenship by Investment programs. Budapest 1072 Applicants may not travel beyond the UK for more than 90 days within the frame of that year. right to vote in elections, political participation and work for the government). Whether you choose a foreign residency or a second passport via citizenship by investment, youre on the right path. Flexibility: There are unconventional ways to get a second citizenship and passport, such as giving birth in a foreign country, marrying a foreign citizen or even changing your religion. When combining your two passports, you could unlock many more opportunities for business, work and travel. Its free, its packed with information, and best of all, its short theres no verbose pontification here we both have better things to do with our time. #7 - New citizenship by investment programs coming online. Four investment requirements must be fulfilled in order to qualify, according to the consulting firm PwC: Montenegro lists two options to apply to its citizenship by investment program, which vary depending on the geographic region invested in, according to the official government website. You will need to invest between $1,000,000 and $2,000,000 in various local enterprises, securities or bonds in the country or deposit $1,500,000 with the central bank for five years without any interest. Changes are expected to many citizenship by investment programmes in 2022 including St Kitts, Portugal and St Lucia. Finally, consider military service obligations that come with a new citizenship. The European Parliament also calls upon the European Commission to propose a legislative act which will call for more burdens of CBI programs in third countries with visa-free travel privileges to the EU, due to perceived inherent security and other risks to the Union. These are 11 countries with citizenship by investment programs and how much they each cost. And if you cant visit North America OR Europe visa-free, your restrictions are even more severe. This is an especially apt point right now, with countries spending billions and trillions in pandemic programs and when countries that rely on tourism, such as those in the Caribbean, are suffering from the lack of travel. E-2 visas are much cheaper than EB-5 visas with a small investment. One year after gaining permanent residency, the candidate, their spouse, and children under the age of 18 can apply for a UK citizenship. European citizenship in four months. The US tax code offers a lot of opportunities to legally reduce your tax liability without resorting to renunciation. Our thinking. The Sole Representative of Overseas Business Visa does not have an expedited document review service. 2022-12-08T19:38:10Z A bookmark . The last requirement is that for all options and unlike many citizenship by investment programs in the Caribbean, you'll need to spend 90 days every year for two years in the country. The United Kingdom is strategically involved in the European markets, the United States, and Hong Kong. The program closes on December 31, 2022. At best, you will just end up with an expensive and useless piece of paper. ESPECIALLY now that Caribbean passports are starting to see COVID-19 sales on their second citizenships. Canada Quebec immigrant investor scheme suspended for review until April 2023. There arefour waysto qualify for Antigua and Barbuda's citizenship by investment program, according to the official government website. UK/Europe: +44 20 3885 3793 Vatican City remains the most rigid state to get citizenship. COMPANY SERVICES ARTICLES RESEARCH EVENT BOOK English German Spanish French Portuguese Arabic Russian BECOME A CLIENT Andrew Henderson For example, if you have parents, grandparents (and in some cases even great-grandparents) from Italy, Ireland, Greece or several other countries, you may be eligible for a second passport through Citizenship By Descent. You can get more details on St. Kitts & Nevis official citizenship by investment website. The second passport industry is no exception. The timeline to successfully acquiring the British passport: 5 years if settled under the accelerated route or 6 years if settled 5 years after first entry to the UK. If You Are A High-Income-Earning American download a free in-depth intelligence report on, allows entrepreneurs to start certain types of businesses, The number of visa-free countries its holders can visit, Purchase A Government-Approved Real Estate Property, Which options allow you to obtain a second passport, Which country will give you a Second Passport, Where you can get a valuable Second Passport, 8 Easiest Citizenships & Passports To Get In 2023, 4 Powerful Estate Planning Strategies for 2023, 82 out of 198 passports in our passport ranking, Saint Lucias official Citizenship By Investment website, 76 out of 198 passports in our passport ranking. This question is a Million Dollar Question. But, if youre not careful, you could become liable for more taxes. So, if you are an investor or business owner, you can use this strategy to slash your taxes to a negligible amount without giving up your US citizenship. The third and final option is to invest in an approved real estate project with a value of at least $200,000. Many countries worldwide offer citizenship by investment programs, including but not limited to Spain, Portugal, Malta, Greece, Vanuatu, Grenada, St. Kitts and Nevis, and Dominica, among others. They can structure a manufacturing business in southeast Asia and visit as often as theyd like. The Montenegro Citizenship by Investment Program was concluded on 31 December 2022. . At $1,979 per visa-free country, Dominicas Citizenship By Investment program is the best value real estate option out there today. After the Cypriot program was cancelled in November 2021, it is now only Bulgaria and partially Malta to have Golden Passport programs.Most international immigration agents have already changed their terminology from "citizenship by investment" to "residence by investment". We have assigned 10 points for each of the benefits. European programs consistently declined in our rankings due to being most expensive programs and countries such as Cyprus, Moldova already closed their doors. In confirmed attendance are the Prime Ministers of Antigua and Barbuda and Saint Kitts and Nevis. (Potentially you can renounce first and become stateless, but thats not something we recommend.). If you obtain a passport through naturalization, say, in Chile, or through ancestry, say, in Ireland, then your future kids (and their kids, and kids of their kids) are entitled to Chilean or Irish passports, as they are your direct descendants. You must submit proof of identification, your biometric residence permit (if you have one), proof of at least a level of B1 in the English language in speaking, writing, listening, and reading (unless exempt), proof that you presently possess Indefinite Leave to Remain status, information about your absences from the UK throughout your qualifying period, and information demonstrating that you were lawfully living in the UK for the appropriate time period. The Sole Representative Visa can be obtained by the applicants spouse, as well as their children should they be under the age of 18. While still operational, the citizenship by investment program in Cyprus gave you several investment options but at 2,150,000 (plus V.A.T), it comes at a heftier price than Maltas. Recently, a number of countries have slashed their minimum investment amount. The legislative initiative is an opportunity to continue such dialogue and to participate in the development of a framework for efficient international cooperation and exchange where good practices are built-in existing and new programs and a government platform for secure and meaningful exchange of data is established. At Arton, we follow these developments closely and as committed advocates for good industry governance and innovative leaders, we applaud any move towards a more lenient management, transparency, security, and better governance. These processes should be overarching so that all stakeholders and international partners are convinced that the programs are run in a sustainable and responsible manner. The immigration through investment in real estate option usually requires a large purchase of local real estate, plus a hefty government application fee ranging from $25,000 to $50,000 or more. St. Kitts and Nevis currently offers two options to buy a second passport through a CIP program. Its easy to understand the appeal of citizenship by investment programs. There is usually just a trivial fee of around $100 involved for applying for a passport booklet. Regardless of your choice, you had to purchase a residence valued at 500,000. 1. Because the total of fines-eligible . But if you have options if you have somewhere else to go, somewhere more free, where they leave you alone then youre in much better shape than someone whos being treated like a house cat and cant leave. Unfortunately, theres no shortage of websites claiming to have expert information about international diversification. For example, someone from the US would benefit from a European passport that gives them unfettered access to the European continent (except Russia). It consists of 19 countries (all of them are in the EU) that have adopted the euro as their sole currencies. In addition, you are required to submit your biometric details so that you can be granted a biometric residence permit. The outlook is subject to large downside risks, including further commodity price shocks, a global growth slowdown, tighter global financial conditions, lower citizenship-by-investment program (CIP) revenues, and natural disasters. Cyprus is not part of the Schengen Area, but it doesnt matter. , the latter of which usually leads to citizenship after a few years. Most people should consider citizenship by descent and residency option first. St. Kitts & Nevis official citizenship by investment website. Cyprus and Bulgaria (which we will cover further) are members of the European Union but not of the Schengen area. For example, if a Canadian citizen moves to Hong Kong, after fulfilling certain obligations before the Canadian Revenue Service, theyll only be liable to pay taxes in Hong Kong. (Well talk about less drastic mitigation strategies below.). Check out our article on the 3 ways to get European citizenship an excellent second passport article. This individual could reside in France, incorporate and run a business in low-tax Ireland, and enjoy passport-free travel to 26 countries (Europes Schengen Area). Show a viable business idea which has the support of an endorsing body in the UK or relevant approved body. Currently, there are several approved projects, and we expect the government to keep adding more options. There are more than a dozen citizenship-by-investment programs in the world today 5 in the Caribbean, 5 in Europe, 2 in Asia and 1 in the Pacific. But, for countries like Antigua and Turkey, that allow investments in businesses, youve got a few options across industries to potentially generate a return. Dominica secured first spot in best citizenship by investment rankings for 2022, followed by Grenada in second spot and Saint Lucia taking third spot. But bad passport holders should consider their options before buying a passport. Applicants who prefer to invest in real estate can purchase property worth at least $300,000, which cannot be sold for five years. A single applicant will pay $287,500 and hold the bonds for five years. But with citizenship by investment programs, passing down your citizenship is not automatic. Many countries in the Caribbean realized they needed a lot of money for rebuilding broken infrastructure. For projects within the capital, the minimum investment required is $1 million. Jordan, a semi-arid country bordering Israel, offers three investor-citizenship options, according to Henley & Partners. After a particularly bad hurricane season in 2017, more Caribbean island nations realized that citizenship by investment programs could help them raise much needed funds. In this article, well be focusing only on instant and near-instant citizenship programs that grant citizenship in a much shorter time frames than the Golden Visa options do, typically in 12 months or less. Eligibility requirements for the UK Investor Visa are as follows: A key perk of the investor program is that you dont actually need to pass any English language test to obtain the investor visa. Several countries would make excellent investment destinations for global citizens interested in acquiring citizenship in a second nation. The first alternative everyone should look at is their family tree. The United Kingdom also allows the applicant and his family member to obtain citizenship by investing 2,000,000. Investors can renew their visa for an additional two years if necessary. But before you renounce your citizenship, you should look at alternative tax reduction strategies. However, you can also qualify by investing in a local enterprise, government bonds, or a real estate or venture capital fund. And some Caribbean countries offering citizenship by investment dont allow investments in local businesses. Ultimately, youve got to determine whats best for you and your family, and pragmatically balance the necessary costs against your needs. Each Caribbean Citizenship By Investment program grants visa-free access to the Schengen (passport-free) area of Europe. The Immigration Health Surcharge (IHS) has to be paid by the applicant and their family members prior to filing for their visas. A Cypriot passport grants visa-free access to 152 countries and ranks as number 82 out of 198 passports in our passport ranking. It ranks as number 86 out of 198 passports in our passport ranking. Contents There are many reasons to invest in a second citizenship, ranging from personal safety, increased global mobility to tax optimization for personal and corporate. You also must pass a good moral character test and have not spent more than 90 days out of the country in the last 12 months before submitting your citizenship application. And while I appreciate all the visitors who stop by our website, I provide special bonuses to our email subscribers including free premium intelligence reports and other valuable content that I only share with them. In 2018, Jordan (sandwiched between Syria, Israel, Iraq and Saudi Arabia) launched its own citizenship by investment program. You can get more details on Saint Lucias official Citizenship By Investment website. Additionally, while not officially members of the Eurozone (or the EU), Montenegro and Kosovo also chose to use the euro as legal tender (yellow on the Eurozone map). The Montenegro Citizenship by Investment Program requires applicants to make a defined economic contribution to Montenegrin society through an investment in an approved development project, and a capital contribution to a fund designated by the government .