Friday, February 23, 2024

Countries That Offer Second Passport Through Investment And How to Apply

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Introduction

Recently, a noteworthy trend has surfaced wherein individuals choose to acquire a second passport, viewing it as a strategic investment.

Citizenship signifies the condition or position of being a member of a specific community. Opting for second passport through investment stands out as an excellent avenue to attain this status. Citizenship responsibilities encompass the traits expected of an individual as a conscientious member of society. These individuals actively engage in activities for their government, and reciprocally, the government carries out functions that benefit its citizens.

What Does Citizenship By Investment Mean?

Simply put, Citizenship by Investment involves a foreigner making a financial commitment within a specified range in another country. This investment grants them the right to claim citizenship and obtain a passport from that nation.

Typically, countries require an investment ranging from $110,000 to $2,600,000 for this purpose. It’s important to be aware that additional charges may arise during the process of becoming a citizen through investment in a particular country.

Notably, second passports obtained through investment in certain countries provide holders with the privilege of unrestricted travel to numerous nations, with the exception of those in Europe, North America, and Australia.

Some countries’ citizenship is particularly appealing, offering visa-free entry to over 150 countries, including all developed ones, making them providers of some of the world’s most prestigious passports.

Additionally, individuals seeking enhanced global mobility and opportunities may explore the option of obtaining a second passport through investment, further broadening their travel privileges and economic prospects.

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Why Should You Consider Citizenship Through Investment?

Several compelling reasons contribute to the increasing popularity of acquiring second, third, or multiple citizenships. Here is why you can consider citizenship through investment:

  1. High Net Worth Individuals: As a sanctuary for wealth, individuals with substantial net worth are opting for passports from countries that allow such arrangements.
  2. Business Mobility: For entrepreneurs aiming to expand their ventures globally, a second passport facilitates smoother movement in and out of countries, streamlining business operations.
  3. Political Turmoil: Residing in a nation marked by political instability can instill fear among its citizens. Acquiring a second passport acts as a secure retreat in case the situation worsens.
  4. Visa-Free Travel: Certain Citizenship by Investment programs provide the advantage of visa-free travel to over 151 sovereign states, serving as a form of insurance against uncertainty.
  5. Retirement Planning: A second citizenship can be a prudent choice in retirement planning, offering additional options and security.
  6. Refuge in Uncertain Times: In times of turmoil, a second passport can be a valuable asset, providing an option for seeking refuge from challenging circumstances in one’s home country.
  7. Family Freedom: Obtaining multiple citizenships ensures freedom for you and your family, offering a level of flexibility and security that comes with diverse citizenships.

According to a report from the International Monetary Fund, this trend has been growing.

There are various other reasons to get another citizenship. A few are tax management, higher education, and the safety of the family.

19 Countries That Offer Residency And Citizenship By Investment

Getting the citizenship of your desired country requires continuous effort. But, let’s analyze the cost and ways of acquiring citizenship in a few countries.

  1. United States of America
  2. United Arab Emirates
  3. Canada
  4. Saint Kitts and Nevis
  5. Australia
  6. Cambodia
  7. Bulgaria
  8. Jordan
  9. New Zealand
  10. Malta
  11. Turkey
  12. Spain
  13. Saint Lucia
  14. Portugal
  15. Greece
  16. Grenada
  17. Dominica
  18. Cyprus
  19. Antigua and Barbuda

1. The United States of America

The requirements for getting citizenship changes as a new president get elected. Your eligibility criteria depends on the following factors;

  1. duration of holding a Green Card,
  2. physical presence in the United States, and
  3. whether you served in the U.S. military.

Below is a table summarising the eligibility for naturalization in the United States.

Citizenship-by-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment-The-United-States-of-America
Source: Boundless.com
  • The name of the visa investors can get for immediate citizenship in the USA is EB-5
  • It can be gotten through Investment in government-approved portfolios around America.
  • To get a United States of America passport, the least amount that must be invested is $500 000.
  • The main applicant must reside in the USA for about six months.
  • The passport provides permanent residence in the United States of America.
  • It enables the investor to access the right to study, work, live, educate and retire in America.
  • Getting residency takes about 20 to 26 months.

If you are eligible, you can apply for United States Citizenship thus;

  1. application for Naturalization (Form N-400) with the fee,
  2. biometrics appointment,
  3. citizenship interview and exam, and
  4. an Oath of Allegiance.

2. United Arab Emirates

This country follows some tough rules when it comes to giving citizenship. The following are the requirements to get UAE nationality.

  1. Current nationality should be renounced,
  2. be well versed in Arabic,
  3. proof of a lawful source of income,
  4. should have educational qualification,
  5. good reputation and conduct,
  6. security approval,
  7. must be a non-felon, and
  8. must swear allegiance to the UAE.

Also, there are investor residency options. This involves investing in property in Dubai and getting an investor’s visa. To get the visa, an investor must invest at least USD 270,000 in real estate. An investor also needs to prove that his or her income is at least 10000 AED per month.

3. Canada

Being one of the most desired countries, Canada also has requirements that must be met to get citizenship. To become a citizen, start by finding out your eligibility status.

Thereafter, you will have to apply through the following process;

  1. Get an application package,
  2. pay a fee of $630 for an adult and $100 for a person under 18 then
  3. send an application.

Canada does not offer citizenship by investment but grants provincial residency by investment. This option is available in provinces like Prince Edward Island, New Brunswick, Saskatchewan, etc.

4. Saint Kitts and Nevis

  • Citizenship by Investment started in 1984
  • Saint Kitts and Nevis started the first citizenship by Investment.
  • You can decide to invest $154,000 in the Sustainable Growth Fund
  • You can decide to invest $420,000 in Real estate.
  • Citizenship got in Saint Kitts, and Nevis can enable you to travel to about 100 countries without a visa.
  • The process of citizenship by Investment takes about three to six months

This beautiful country does offer citizenship by investment. To be eligible for citizenship in this Caribbean country, you have to have:

  1. No criminal records,
  2. Good health,
  3. Excellent character, and
  4. A high personal net worth.

There are also investment offers that you can choose from to become eligible for citizenship.

One of them is the Sustainable Growth Fund that starts from US$150,000 for an individual. If you have a spouse, it will be an extra US$25,000. If there are more persons, the amount will be US$10,000 per extra person. Also, you would have to pay a due diligence fee.

The second option is real estate investment. This you can get and pay for depending on the holding period. Acquiring a second passport through investment, such as real estate ventures, presents a strategic avenue for unlocking both residency benefits and potential long-term returns.

5. Australia

The Department of Home Affairs in Australia has laid down elaborate eligibility criteria for each section.You can use this link to start your citizenship application form and pay online.

Ensure that you are aware of the fees for each type of form. There are five options you could pick from to become an Australian citizen by investment. They are;

Australia-Citizenship-by-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment
Source: Sydney Migration

6. Cambodia

This is one of the oldest countries that allows individuals to apply for citizenship through investment. The investment requirements as per the official website of CBI Index are;

Cambodia-Citizenship-by-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment
Source: CBI Index Website

The process could take between three to six months to complete. Then an approval would be granted by the King under the Royal Decree. You can also apply for citizenship if you have lived in Cambodia for at least seven years and have a residence card. You can know more about other requirements for different categories here.

6. Bulgaria

The immigration program in Bulgaria dates back to 2009 as amended in the Foreigners in the Republic of Bulgaria Act. For its CIB program, the prior residence of the investor in Bulgaria is not a condition.

Here are the programs under CIB

Second passport through investment-Bulgaria-Citizenship-by-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment
Source: CBI Index Website

You can also apply for Bulgarian citizenship by filling out this form. You can also know about the fee structure here.

8. Jordan

This Middle Eastern nation provides citizenship through investment and the usual process. CIB investment details are as follows:

Jordan-Second-passport-through-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment-1
Source: CBI Index Website

9. New Zealand

The country requires an individual to live in New Zealand for at least five years before applying for citizenship. Also, the country prohibits dual citizenship, but you have to check with your country of origin.

You can start your application after going through the eligibility criteria. As for the fee, it is $470.20 for adults aged 16 and over and $235.10 for children aged 15 and under.

Also, you can become a citizen of New Zealand through investment. This kind of citizenship is got by;

New-Zealand-Second-passport-through-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment
Source: Immigration.Govt.nz

10. Malta

This is another country that offers citizenship through its Individual Investor Programme. The following are the conditions in which you can are;

Malta-Jordan-Second-passport-through-investment-10-Countries-That-Offer-Residency-And-Citizenship-By-Investment
Source: CBI Index Website
  • You can decide to buy a property of nothing less than $330,000
  • You can decide to contribute $660,000 to Malta’s development.
  • You are required to contribute $150,000 to Malta’s financial instruments.
  • With the citizenship of Malta, you can go to 183 destinations without a visa.
  • You can live, study, and work anywhere in E.U

11. Turkey

  • Investment and employment can get the citizenship of Turkey.
  • You can decide to invest nothing less than $250,000 in the housing sector.
  • You can make an investment of at least $500,000 in a Turkish company.
  • You can employ about 50 Turkish citizens on Turkish land.
  • The applicant may decide to deposit about $510,000 in any State investments or bank of his choice.
  • The process of Turkish citizenship is about three to six months.

12. Spain

  • The citizenship by Investment in Spain started in 2013
  • The minimum amount for Investment is $653,000
  • You must have done a transfer of the capital of about $1,120,000 in Spain
  • You must invest at least $1,200,000 in a company around Spain of your choice.
  • You can decide to invest a minimum of $2,200,000 in Spanish government bonds.
  • The process takes about four to six months.

13. Saint Lucia

  • The citizenship by investment program started in 2015.
  • You can decide to pay at least $110,000 to the Government donation fund.
  • You can decide to invest $510,000 in Government bonds.
  • You can decide to invest $310,000 in real estate.
  • If you decide to get Citizenship by Investment in Saint Lucia, you can go visa-free to about 133 countries worldwide.
  • You would spend about three to four months getting citizenship.
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14. Portugal

  • The citizenship by Investment in Portugal started in 2012
  • You can decide to invest at least $360,000 in the housing market. Note: There is a 20% decrease if the real estate is in a rural place.
  • You can decide to transfer a minimum capital of about $1,200,000
  • You could also decide to provide a minimum of ten full-time workers in a company in Portuguese.
  • You could decide to invest nothing less than $351,000 in a Portuguese capital venture holding.
  • You could also decide to invest about $351,000 for scientific or technological research in Portugal.
  • You could also decide to donate at least $251,000 to Portuguese heritage, beliefs, or culture.
  • You get an extra opportunity to get European citizenship.
  • The process lasts for about six months.

15. Greece

  • Greece is located in the middle of Asia, Europe, and Africa.
  • The citizenship program began in 2013
  • You will have to invest in real estate of at least $260,000
  • It takes 40 days for its issuance.
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16. Grenada

  • It is situated in the West Indies of Middle America.
  • Its program began in 2013.
  • You must provide a minimum amount before qualifying.
  • It takes about six months to achieve.

17. Dominica

  • The program began in 1993.
  • You must decide to invest at least $210,00 in real estate.
  • You can decide to invest in property and government bonds.
  • The citizenship allows 119 countries visa-free to other countries.
  • It takes about six months.
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18. Cyprus

  • It is found in the Mediterranean sea.
  • You need to invest at least $2.16 million in the housing sector.
  • You must be ready to invest consistently in Cyprus.
  • Citizenship in Cyprus promises visa-free travels to about 100 countries.
  • The waiting period lasts six months.
  • It has currently been suspended.

19. Antigua and Barbuda

  • You can decide to add  $110,000 to Antigua National Development Lot.
  • You can also decide to spend $1,600,000 for doing a business.
  • You can decide to invest $410,000 in the real estate business of your choice.
  • You get visa-free access to over 150 different countries.
  • It takes about six months for the processes.

Citizenship by Investment is rapidly becoming a hotcake. Expensive and harder to get. Suppose you plan to get the status of being called a citizen in a particular country by spending money. Do it fast and quickly because it is one of the few ways to make ends meet in our 21st-century world.

Citizenship by Investment is rapidly becoming a hotcake, expensive and harder to get. Suppose you plan to get the status of being called a citizen in a particular country by spending money. Do it fast and quickly because it is one of the few ways to make ends meet in our 21st-century world.

Exploring avenues for a second passport through investment in properties could provide not only an expedited citizenship process but also open up new horizons for global opportunities and financial security.

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Discover How We Can Facilitate Your Journey

Whether you aspire to obtain citizenship through investment programs or navigate the conventional application process, our immigration and naturalization service providers in Africa are here to guide you seamlessly.

Our comprehensive suite of services includes facilitating work permits, managing visa applications, assisting with citizenship and residency processes, offering support for studying abroad, and organizing group trips.

In a commitment to enhance efficiency, our agency has strategically partnered with ApplyBoard, Travelstart, and Hudson Troy. These collaborations streamline the entire process, ensuring a smoother experience for our clients.

As VFS Global, our offices span various countries across Africa, equipped to assist customers with their diverse visa requirements. To embark on your investment journey, schedule an appointment with our experienced investment experts. We are dedicated to making your path to citizenship a hassle-free and successful endeavor.

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