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Around the world in 13 passports: Why second citizenship is on the rise

October 01, 2019
Blog

Around 30 countries around the world offer second citizenship by investment programs, which usually involve investors making social impact economic contributions, investing in private government bonds, education funds, or buying property that creates jobs in areas with high unemployment.

In return, second citizenship gives them the right to move freely between states, enter visa-free access to many countries, or seek safe havens from conflicts and wars.

In 2018 alone, approximately 108,000 High Net Worth Individuals migrated from their home countries – an increase from 95,000 the previous year – according to the 2019 Global Wealth Migration Review released by data consultancy New World Wealth in April.
Australia took the top spot for the most popular destination for millionaire migration in 2018, a gain of three percent in 2017.

The Caribbean Islands also saw an influx of 2,000 high net worth individuals in 2018, an increase of 3% year-on-year.

AROUND THE WORLD IN 13 PASSPORTS

Caribbean countries

ANTIGUA AND BARBUDA
Option 1: $400,000 invested in an approved real-estate project.
Option 2: $100,000 in National Development Fund.
Option 3: $1.5m invested in a business.
Fees: $50,000 each for main applicant, spouse and any dependents over 18; $25,000 for dependents under 18.
Benefits: Citizenship; visa-free access to 132 countries.

DOMINICA
Option 1: Invest $100,000 in Economic Diversification Fund, plus additional $75,000 for spouse, $25,000 for up to two children.
Option 2: Invest $200,000 in real estate. Property can be sold after three years if the intended buyer is a CBI applicant. Applicant must have a face-to-face interview.
Fees: $50,000 for main applicant, $25,000 for spouse.
Benefits: Citizenship; visa-free access to 91 countries; quick processing (3-6 months); no residency requirement; no mandatory interview; no physical residence requirement.

SAINT KITTS AND NEVIS
Option 1: Invest $200,000 in real estate, which must be held for five years.
Option 2: Contribute $150,000 into the Sustainable Development Fund
Benefits: Citizenship; visa-free access to 132 countries; no residency requirement.

SAINT LUCIA
Option 1: Invest $100,000 in the Saint Lucia National Economic Fund.
Option 2: $500,000 in government bonds. Investment must be held for at least five years.
Option 3: $300,000 in an approved real estate. Must be held for at least five years.
Option 4: $3.5m in a new business that creates at least three jobs. Applicants must have a net worth of $300,000.
Benefits: Citizenship; visa-free access to more than 100 countries.

Europe

BRITAIN
Option 1: Invest £2m to live in Britain for a maximum of three years. £5m gets you citizenship after three years, £10m after two years.
Benefits: Access to citizenship

CYPRUS
Citizenship: Investment of €2m during the three years preceding the date of the application; must retain the said investments for at least three years from the date of naturalisation.
Residence: Purchase property of at least €500,000; then make two €75,000 donations – one to the Research and Innovation Foundation and one to the Cyprus Land Development Corporation.
Benefits: Citizenship; visa-free access to 159 countries; dual citizenship allowed.

GREECE
After seeing application volumes for its golden visa nearly triple in just two years, Greece now grants more investor visas than any other country. Greece asks for €250,000, typically spent acquiring real estate which remains historically cheap in Greece.
Option 1: Greece offers residence to foreign investors placing €800,000 in Greek government bonds
Option 2: Greece also offers residence to investors who place €400,000 in bonds or shares of real estate investment companies.
Benefits: Greece is a member of both the EU and Schengen, which means a residence permit in the country comes with visa-free travel throughout Europe, and also that continued residence in the country for a number of years could lead to EU citizenship.

MALTA
Citizenship: Invest €350,000 in property, €150,000 in government-approved financial instruments and donate €650,000 to the National Development and Social Fund.
Residence Option 1: Invest €320,000 in property and €250,000 in government bonds. Fee of €30,000.
Residence Option 2: Invest €275,000 in property and pay €15,000 annually. Annual income of €100,000 or possession of capital of €500,000 required.
Benefits: Citizenship; visa-free access to 168 countries.

PORTUGAL
Option 1: Invest €500,000 in property, or €350,000 in research, or €250,000 in the arts, or €500,000 in venture capital, or create a minimum of ten jobs.
Benefits: Residency with a stay of only seven days in the first year; access to citizenship after five years; the right to free entry to the 26 Schengen countries; includes immediate family members. Portugal offers a safe and good quality-of-life.

MONTENEGRO
Option 1: Officially opened in October 2018, the Montenegro CBI programme offer individuals several options in terms of investment, including a €450,000 investment in projects in developed areas or a €250,000 investment in projects in less developed areas. The government also charges a fee of €100,000 per application.
Benefits: Cost-effective pricing and immediate residency; the country is due to enter the EU from 2025.

North America

THE US
EB-5 VISA: $1m investment in a business, or $500,000 in a high-unemployment or rural area. Company must create or preserve at least ten full-time jobs.
Benefits: Residency; access to US citizenship after five years.

QUEBEC
Option 1: C$2m in a risky investment for 15 years. Applicants must be worth C$10m.
Option 2: C$800,000 in a passive investment for five years. Applicants must be worth C$1.6m.
Benefits: Access to citizenship after four years.

Asia Pacific

AUSTRALIA
Option 1: Invest A$1.5m in a designated investment.
Option 2: Retiree applicants aged 55-plus with A$750,000 of assets, plus income of A$65,000 a year and no dependents, must make a designated investment of A$750,000.
Benefits: Access to citizenship after four years.

Karibi is your trusted citizenship by investment partner. Helping individuals and families obtain their second passport. and advise you to choose the best citizenship for you, your vision and future aspirations.

Contant us through:
Whatsapp: +971 58 500 8888
Tel: +971 (0) 4-568-7777
Email: info@karibi.com

Source: arabianbusiness

 

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