The concept of alternate citizenship is attracting more and more individuals, particularly during times of crisis. Citizenship by investment (CBI) is a concept that nations from all over the globe have incorporated into government programs. Citizenship is granted to investors in return for major contributions to the social improvement, cultural development, or economic expansion of the country. Several nations operate their versions of this citizenship by investment scheme. The leading nations for second citizenship by investment are:
St. Kitts and Nevis
The CBI scheme in this nation is the oldest in the world. Investors may apply for citizenship after only 60 days of the application being filed. Currently, there are just two investment categories. a contribution of $150,000 made by an individual or even a family of up to four into a Sustainable Growth Fund. The second option is to purchase a home for $200,000 for seven years or $400,000 for five years. Payment of processing costs would grant the applicant and any accompanying family members full citizenship. The St. Kitts and Nevis passport is well-known globally and grants its holder visa-free entry to 156 nations.
Grenada
Grenada gives citizenship three months after application. No in-person visit is necessary. The ability to include siblings, parents, and grandparents of the primary applicant or their spouse in the application is an appealing component. Two choices are available. The applicant must provide Grenada’s National Transformation Fund with a minimum of $150,000. The gift investment for a family of four would be $200,000. Investing $220,000 as a co-owner in a real estate project for five years is another appealing choice, and it is competitive with what other nations want in exchange for citizenship. A Grenada passport grants visa-free or visa-on-arrival travel to 143 countries and regions. The Grenadian passport may serve as a gateway to an American E-2 investor work visa, giving its possessor access to the United States, which is another unique feature.
Malta
Malta has a favorable tax environment and is one of the most inventive nations in Europe. Although it also provides residency, its CBI program is the major draw. Citizenship candidates must physically dwell in the nation for a minimum of 12 months. According to Malta, its due diligence procedures are the strictest in the world and include an examination of the investor’s whole portfolio. As a consequence, there is a highly exclusive clientele that offers those who are successful the greatest level of credibility on a global scale. Individual investors who wish to apply for citizenship by investment must do the following:
- Donate at least 650,000 euros to a government-sponsored national development fund;
- Invest 150,000 euros in government-approved stock or bond;
- Buy or lease real estate for at least 350,000 euros over five years; or
- Agree to a five-year property rental contract for a minimum annual rent of 16,000 euros.
The whole European Union and Schengen Area are completely open to new Maltese citizens, and they also have visa-free or on-arrival entry to 184 other nations.
Portugal
Despite not having a CBI scheme, Portugal nonetheless has a highly well-known residency program called the golden visa that may result in citizenship. Applicant and their dependents are given five-year residence permits after making an investment, enabling them to live, work, and enter Portugal without restriction. Another advantage of having a residence permit is visa-free entry into the Schengen Area. Portugal is a great option for a second passport since it has been highly tolerant and friendly when conducting financial background checks on its golden visa applicants. Dual citizenship is permitted in the nation, allowing applicants to seek Portuguese nationality after five years of residency. A Portuguese passport grants travelers access to 185 nations across the globe, as well as the freedom to roam throughout the whole European Union.
New Zealand
New Zealand has two investment categories. NZD 10 million for at least three years’ minimum investment and a minimum of NZD 3 million over a minimum of four years. In either scenario, you get your money back after the period and may continue to live there, which, after five years, will grant you citizenship. As a participant in the Trans-Tasman pact with Australia, New Zealand has access to the union’s internal borders freely. Additionally, New Zealand is now negotiating a new free trade deal with the United Kingdom that would allow both British and New Zealanders to travel freely. Both nations are members of the CANZUK geopolitical union, which will soon also include Australia and Canada. Upon signing, possessing a New Zealand passport would grant the remarkable opportunity to live and work visa-free in Canada, Australia, and the United Kingdom.
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