This was shortly after the Turkish lira plunged to an all-time low against the US dollar and ongoing acts of terrorism had driven Istanbul real estate sales to fresh lows. Overall, we like Montenegro as a country. St. Kitts and Nevis runs the original economic passport program, in operation since 1984. Also, its made up of 365 islands, with crystal clear blue waters, stunning scenery, and a relaxed pace of life. If you can comfortably kiss at least 700,000 goodbye, this is a great program that covers all the bases. For example, some programs request medical exams which require candidates to prove they are in good health, others do not. (Cyprus canceled its program on November 1, 2020 and Montenegro will cancel its program as of December 31st, 2022. However, at the same time, depending on which country you choose to invest in, an investment in real estate can bring in considerable returns. The vast majority of countries do however demand the following: A transfer of funds or government bonds is usually the fastest way of becoming a citizen by investment. There are three investment options to choose from, including paying a minimum of $200,000 into the National Development Fund, buying property, or investing in a business. Each country that offers citizenship by investment has a clearly outlined program that has been authorized by its government. Its just a matter of time!. It is important to understand taxes is not based on citizenship. If you ever feel conceded, conflicted, or undecided, research all the possibilities and, if needed, ask a qualified industry expert. Solution: Vanuatu Citizenship by Investment, A gentleman came to us and said his number one priority was to replace his passport with another Tier A passport before he renounced his US citizenship. Grenada allows you to make a (newly reduced) donation of $150,000 for a single person or $200,000 for a married couple in exchange for citizenship. 3+ years Return of the investment. Dual citizenship offers a plan b, a second opportunity to relocate freely in times of instability. In essence, the United Kingdom offers its own version of a United Kingdom Golden Visa inviting high net worth investors the right to obtain residence in the United Kingdom, with eventual citizenship possible, in exchange for an investment into the countrys economic prosperity. (Cyprus canceled its program on November 1, 2020 and Montenegro will cancel its program as of December 31st, 2022.). Either way, thats not exactly chump change. Starting from $100,000, you and your immediate family can obtain passports in four short months. Heres who is eligible to get a Dominican citizenship now: Adult siblings (biological or adopted; must be single and childless), Adult children (dont need to be studying or living with parents), Financially dependent parents and grandparents of both the main applicant and spouse (dont need to be living with main applicant), Children born and spouses married after the applicant has received citizenship. Actually, the lure of being isolated geographically and hence different from Caribbean programs could be a game-changer for some. The Golden Visa Greece Program has rivaled Portugal in recent years in terms of the most popular citizenship by investment programs in Europe. Founder of Nomad Capitalist and the worlds most sought-after expert on global citizenship. has rivaled Portugal in recent years in terms of the most popular citizenship by investment programs in Europe. But if you are a six-, seven-, or eight-figure global citizen running a business, you might be better off going somewhere else, saving a lot of your money, and simply getting the few extra things that Malta could give you elsewhere. Remember what we said about individual needs and wants? Obviously, there are eligibility criteria, certain time processes in place, and other nuances, but this is the gist of it. You can technically resell your investment in several years, but you likely wont get your money back. The Best Citizenship By Investment Programs of 2023 If you are an entrepreneur or investor looking for other legal alternatives, feel free to reach out and see how we can help. The Turkish Citizenship Programme opened in 2016. Over 100 countries in the world have some form of investment migration legislation in place. Jordan and Egypt ranked at the bottom of the table. Depending on the country, there are specific requirements for the investment you can make, and different benefits associated with the passport you acquire. who may need a second passport to continue their investments. For the sake of simplicity, were going to consider three citizenship by investment programs to be European: Malta, Montenegro, and Turkey. The Caribbean is home to five citizenship programs, including the oldest such program in the world. If you are interested you should begin the process now. Its also the only passport that offers visa-free access to all six big English-speaking countries, including the United States. There isnt much to the program, really. As with other Caribbean passport-by-investment programs, both processing and due diligence fees apply to any type of investment. The key difference is "Citizenship-by-investment" programs offer investors direct passport to investors within few months or a year. The difference in Dominica is that they did not put a deadline on the discounts, which means that they are still in effect. Unless youre a US citizen in need of a second passport to reduce your tax obligations (these people dont have any alternatives but to. About Us Having the answers to these questions will ultimately help you decide which citizenship by investment (CBI) scheme to go for. You often receive the passport in five years or more. Grenadas most interesting features are visa-free access to Russia and China, as well as being the only Caribbean CBI to be part of. Now, lets move out of Europe and into the Americas, namely the Caribbean. Yet, we still think its not solid enough to stand on its own as a replacement for a Tier A passport. How To Obtain US Citizenship by Investment | EB5AN The non-refundable contribution route for St Lucia citizenship requires a $100,000 donation. However, most people trying to sell you global citizenship will make it seem so. If youre seeking a budget passport, Dominica is one of the best value citizenship by investment options in the region. We were clear from the beginning that this program targeted mostly Arabs seeking an Islamic safe haven, but the price reduction has certainly made it interesting to more people. Its also a good option if youre interested in doing business in the UAE or Russia. With travel and global mobility in its prime years. when you count the government donation and agent fees payable to a local in-Vanuatu. The less scrupulous people in the citizenship industry often say, Its imminent! Copyright 2012-2023, Nomad Capitalist Limited. There are other options that are easier, less expensive, and less bureaucratic than obtaining a second passport by investment. Yet, we still think its not solid enough to stand on its own as a replacement for a Tier A passport. Testimonials Some key questions to bear in mind before you even begin to consider pursuing citizenship by investment (CBI) are the following: These are just some of the questions that you should be asking yourself before choosing a country or program. Looking for a new lifestyle or simply a second home? All rights reserved. That is why a second citizenship is so important, but its just the first step. Naturally, a passport is an extension of this. You can technically resell your investment in several years, but you likely wont get your money back. Or do you simply want to work towards a passport in a cheaper way? Countries such as Domina, St Kitts and Nevis, Antigua and Barbuda, Grenada, and Saint Lucia offer very fast citizenship by investment (CBI) programs to obtaining a second passport. These programs streamline the application process, provide a straightforward path to citizenship in a matter of months, and are open to (almost) anyone with a clean criminal record. Spain isnt much better. Antiguas investment options are pretty standard fare for Caribbean passports and range from a $130,000 donation to the government (including a University Fund), a $230,000 real estate investment, or a $400,000 business investment. Immigrant Investment Programs in Comparison - Second Citizenship Finally, while youre on your quest for a second passport, it is important to note that the opportunities for citizenship by investment are constantly changing. You dont know how long it will be available for the taking. Some countries which offer the opportunity to obtain citizenship by investment are Portugal, Greece, Malta, Spain, St Kitts and Nevis, and Grenada. However, the rewards surpass the challenges, particularly if you have a weak-ranking passport, are in immediate or imminent danger, or are simply looking to protect your wealth and assets and safeguard your family members personal freedoms. Since 2013, the government has its very own Grenada Citizenship by Investment Program. If you can add a Tier A citizenship to your passport portfolio through one of the other available methods for instance, Italian or even Irish citizenship by descent you wont need to spend $1 million or more to add an EU passport like Malta to your portfolio. However, key differences between the two programs exist and its important to know what these differences are. Unfortunately, yes. Family can also benefit from the program, as alongside the investor, family is also included in the application in many cases. , but that price tag has reverted back to the original $195,000. We wont be giving you a ranking system that you can skim over and then pick the number one option merely because its at the top of the list. Since we first wrote this article, there has been a huge proliferation of citizenship by investment programs around the world, with others shutting down. Ok, some might say that Turkey isnt fully European, but we decided well give it the benefit of the doubt. With travel and global mobility in its prime years, second citizenship and a second passport by investment is increasingly valued for the wealth of advantages it brings. Solution: Citizenship by investment in St. Lucia. Youre also at the mercy of the lira exchange rate on the day of the sale, as well as an appraisal that may not value cheap resale properties (the kind that make good investments) as highly as new construction. If you are interested you should begin the process now. Meanwhile, Egypt and Jordan, which technically have citizenship by investment programs, are never the options that we would recommend to our clients. Grenada vs St Kitts Citizenship: Comparison Guide by GCS Theyve taken efforts to correct their pricing due to recent price wars, but its still intentionally overpriced. Citizenship by investment programs are fickle; they come and go. Under the program, foreigners can choose to donate or invest in approved real estate to receive the passports. Benefits of the Portugal Golden Visa program: Freedom of movement across 26 European countries, You can also obtain residence permits for your family with a single investment, You only need to spend 7 days there per year to maintain residency, (which can entail substantial tax reductions or even total exemption over a ten-year period). Its recently taken solid steps in straightening out the program and making it more understandable to foreign investors, so it might still appeal to certain investors. If you want to bypass all this and secure yourself a. in as little time as possible, youll need citizenship by investment. Long naturalization timelines, language tests, physical residence requirements, taxes, fickle governments, never-ending bureaucracy. Citizenship by Investment Countries & Programs List in 2023 Either way, youll receive a second passport out of the deal. It can help to get in touch with a specialist to discuss your requirements and the options available to you. The application process is straightforward and quick, with the overall process of citizenship taking four months. Countries Offering Citizenship by Investment | Golden Visas Finally, there are three programs that offer a passport in exchange for investment. There are two countries tied for this title: Dominica citizenship by investment and St. Lucia citizenship by investment. There is certainly something special about this place, which has given the world not one, but two Nobel prize winners. Citizenship by Investment Programs | Henley & Partners Its not the specifics of any one program that matter the most when determining whether its the best citizenship by investment program.
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