in Citizenship by Investment by Prabhu Balakrishnan on May 11, 2020

Citizenship by investment (“CBI”) and Residence by investment programs (“golden visas”) have seen big growths in recent years. Jus pecuniae means acquiring citizenship against financial contribution. But citizenship for many immigrants, comes at a significant financial cost.

CBI/RBI Industry

The Investment immigration scheme industry is currently a $17 billion industry annually which consists of

Citizenship by investment (CBI) – $5bn /yr

Golden Visa Residence – $12bn /yr

There are mainly two routes, one is residency (Golden visas) and other is instant citizenship with a passport (CBI schemes).

The number of countries offering citizenship and residency schemes based on economic investment have ballooned due to globalisation, fueling global demand for passports and visas.

Globalisation

But what is causing an alarming growth in this industry?

The Rich and wealthy want a quick solution for the best country that guarantees safe haven, best education and healthcare and its passport that offer free movement to many countries with no visa restrictions. Global uncertainties such as Brexit deal, Trump victory, Syrian crisis, Hong Kong protests, Turkey lira crisis, Demonetisation in India is fueling the growth pushing people to look for alternative citizenships elsewhere. These also serve as push factors for driving the wealthy to other safe haven countries

IMF report on revenues from citizenship by investment programs, says St Kitts & Nevis has achieved impressive 11% of GDP in 2015 and slashed its debt by 64%. Portugal golden visa ARI scheme reported 4.5 billion euros (90% invested in real estate) inflows in just 6 years of running the scheme. Malta and Greece reported over 1 billion euro inflows since the inception of the citizenship scheme in the EU.

These countries have completed recovered from recession and the economy is steering towards positive growth, since the inception of economic citizenship and residency programs.

I will spot out the main difference between citizenship and residency programs and then will list about 35 countries offering investment programs to foreign investors. Both of these two routes will lead to citizenship.

Citizenship by Investment

Citizenship by investment programs (CBI/CIP) gets you fast track citizenship within months, waiving naturalisation requirements such as residency, military service, language requirement etc. This is one of the main reasons why citizenship by investment programs are so popular and also less time consuming. The citizenship given is lifetime can be passed on to future family generations through children. Montenegro and Moldova opened new citizenship by investments in 2018.

Golden visas

RBI/Golden visa programs, grant ONLY residency, no immediate citizenship. Citizenship is only optional, usually takes 5 years of uninterrupted living to naturalise for citizenship. Golden visas are usually permanent residency or residence permits issued with limited time validity (say one or two years). You have to extend the validity of residence permit (under golden visa) once every two for five years and to do this you must visit the country personally.

Differences Golden visa Golden passport Type Residence by investment Citizenship by investment Investment Real estate/Business Donation/Real estate/Business Citizenship Optional Immediate Physical residence Days/Weeks None / Yes (EU schemes) Taxation Residence based taxation Citizenship based taxation Permits Permanent Residence permits Passports / Naturalization certificate Family yes yes Right to vote NO Yes Dual citizenship Laws Not Applicable Applicable Visa free Regional Worldwide

Global pandemic

The Covid-19 pandemic has underpinned the importance of CBI and Golden visa schemes to rebuild the economy after collapse in tourism, travel and business sectors. The Global GDP is expected to shrink by 1% and economic growth is expected worldwide.

Popular Investment Routes

There are several quick investment routes to buy citizenship or residency through investment. The best, easiest, less expensive and fastest option is

Real estate (citizenship/residency)

Donation payment to Government fund (citizenship only)

Government bonds/stocks

Business / capital transfer

Another interesting option is buying Government bonds ($500,000 onwards), you will get your full money refunded back after 5 years or can be financed as well, because the investment is risk-free and guaranteed by Government with no interest. You keep your citizenship for life time. You will not lose your citizenship after getting back your money from bonds.

A handful of countries grant residency or even citizenship against capital investments in Art & culture projects, Research and technology sector, Green energy sectors and foundations or organisations serving public interest..

The benefits of second citizenship are enticing such visa free travel to several countries to Europe/UK, education for children, freely do business, tax free status, and also benefits stateless persons .

Physical Residence

The biggest problem with programs in United States, United Kingdom, Canada, yes they give you permanent residence status but you are required to physically immigrate and live there permanently. You cannot be absent for more than 6 months in a year. Many investors dont want to move and live there away from home. Another problem is you are taxed on worldwide income, if you get permanent resident status. Golden visa schemes in Europe such as Portugal, Greece, Spain do not require you to live or move to these countries.

Citizenship by Investment (CBI) schemes have zero residency requirement before or after receiving passport.

Tax Planning

Tax planning offshore cannot be overlooked when acquiring a second citizenship. In most countries, you are taxed based on your residency (live 182 days/year), not citizenship for the income generate inside the country.

The United States and Eritrea are the only two countries in the world with the “Citizenship based tax regime”. The US taxes both citizens and non-citizens on their worldwide income. There are virtually no taxes in the Caribbean.

In Europe, Austria (55%), Netherlands(52%), Sweden (62%), Finland(56%-62%), Denmark (56%) has the highest income tax rates.

Dual Citizenship

Dual citizenship also must be evaluated accordingly so that you wont automatically lose citizenship by taking up citizenship of foreign country.

If you come from a country where dual citizenship is prohibited, you are better off to apply for residence by investment schemes. For example Hong Kong nationals already have a best and powerful passport to travel, so they dont need a second passport. A Golden visa is desirable option.

For countries like India, China, Saudi Arabia etc. dual citizenship is prohibited. We ask you to seek legal advice before you apply for CBI schemes which comes with second passport perk.

RBI/Golden visa schemes will naturally be good choice if you dont want to face risks associated with dual citizenship.

You decide which country you like, be it a passport or residency.

Europe

Only Malta and Cyprus have the official citizenship programs. All other countries in Europe require residency first before citizenship. There are about 15 countries in Europe offering residency or citizenship to foreign investors against a qualifying investment.

These are two types

Citizenship by Investment Programs Golden Visas in Europe

1. United Kingdom

GBP 50,000 (innovator visa) or GBP 2 million (tier1 investor)

(innovator visa) or (tier1 investor) Residency by investment in the UK (permanent)

Qualifying investments (business enterprise)

Citizenship after 5 years of living in the UK (PR status / ILR required)

of living in the UK (PR status / ILR required) Attractive program post Brexit due to cheaper pound value.

2 months application processing time.

application processing time. Residency requirement: You must live 9 months per year in the UK.

Innovator visa offers path to Indefinite leave to remain (ILR green card status)

Request a free quote

2. Portugal

EUR 350,000 (old property outside Lisbon) or EUR 500,000 (in Lisbon)

(old property outside Lisbon) or (in Lisbon) Portugal golden visa ARI programme is the most popular scheme in Europe

Residency by investment in Schengen country.

Qualifying investments (real estate, business, research, capital transfer, Art)

Minimal residency requirements – 7days per year.

Immediate permanent residency for property investors

Most popular property investment program in Europe.

Portugal Citizenship after 6 years of living.

of living. No requirement to live in Portugal

Processing time is 3 months

Free movement in Schengen with residence permit (“TÃTULO DE RESIDÃŠNCIA”) issued by Portugal.

Request a free quote

4. Greece

EUR 250,000 (Greek golden visa residency program)

(Greek golden visa residency program) Permanent residency by investment scheme (Greece golden visa)

Qualifying investments (real estate property ownership)

Permanent residence permit issued valid for 5 years.

No work allowed under this scheme.

Greece Citizenship after 7 years of living (requires PR status)

of living (requires PR status) Free movement in 26 schengen states with residence permit issued by Greece (“A?EIA ?IAMONH?”)

No residence requirements.

Cheapest property investment program in Europe

No language tests, No education, No business experience required to apply.

Processing time is 3 months.

Request a free quote

4. Spain

EUR 500,000 real estate investment or EUR 2 million in Government bonds

Spanish golden visa program

Residency by investment in Schengen country

Qualifying investments (real estate, bonds, company shares)

Spanish Citizenship after 10 years of living (non spanish speaking countries), quicker 3 years for those from spanish speaking countries. (no PR status required)

of living (non spanish speaking countries), quicker 3 years for those from spanish speaking countries. (no PR status required) No requirement to live in Spain after getting residency (must visit spain for few days every year).

Free movement in Schengen states with residence permit(“PERMISO DE RESIDENCIA”) issued by spain.

Request a free quote

5. Ireland

EUR 500,000 (endowment) or EUR 1,000,000 (Business enterprises or Government bonds)

Irish immigrant investor program

Residency by investment in EU member state.

Stamp 4 permanent resident status issued for 5 years.

Qualifying investments (enterprise, donation, real estate, bonds)

Irish Citizenship after 5 years of uninterrupted living (no PR status required)

of uninterrupted living (no PR status required) No requirement to live in Ireland

Most popular program for UK nationals seeking Irish passport post Brexit

Ireland is an excellent business investment destination with corporate friendly taxes.

Request a free quote

6. Belgium

EUR 350,000 business investor scheme

business investor scheme Belgium business investor program (passive investments not accepted)

Residency by investment in Schengen

Qualifying investments (business investment and create jobs)

Belgium Citizenship after 5 years of living in Belgium (PR status in 5 years)

of living in Belgium (PR status in 5 years) Most popular business immigration program in Europe .

No requirement to live in Belgium after receiving residency.

Free movement in Schengen states with residence permit (“ VERBLIJFSTITEL” ) issued by Belgium.

) issued by Belgium. Easy application process and no language tests or business experience required.

7. Malta

EUR 900,000 (approx) in Malta citizenship) or

EUR 125,000 (Malta Golden visa program in financing government stocks )

Malta Citizenship by investment programme (Malta IIP golden passport)

Malta Citizenship by investment programme (Malta IIP golden passport) Qualifying investments (€650,000 donation + €150,000 bonds)

European passport for investor and family in 15 months

Residency requirement: 1 year or 12 months by satisfying genuine link to Malta (e-residency must rent or buy a home in Malta).

No language tests, No military service, No citizenship tests, No business experience required

Live,work, study anywhere in 26 countries in Europe (Switzerland, Germany, France, Sweden).

Malta passport in 12-15 months

Malta IIP open to EU and EEA nationals.

Maltese passport offers visa free travel to 160 countries in the world to USA, Canada, United Kingdom etc.

No requirement to live in Malta after receiving citizenship.

Maltese citizenship is not confidential as names of people are published in official gazette to public.

Request a free quote

8. Cyprus

EUR 2,150,000 investment in Cyprus investment passport) or

EUR 300,000 property investment (golden visa)



European Citizenship by investment programme (Cyprus golden passport)

Qualifying investments: real estate, bonds, business for 2 million euros

Fast track Citizenship in Europe for family

Cypriot citizenship and passport in 6 months .

. No residency requirements (naturalisation waived) but must buy a home for 500,000 euros

Cyprus passport offers visa free travel to 28 EU member states

Live, work study in 28 EU member states (Switzerland, Austria, France, Germany etc)

No military service, No language test, No business experience needed

Easy application process with high approval rates.

Cyprus CIP open to all country citizens.

Citizenship is lifetime and can be passed on to future family generations.

Application process is confidential and citizenship not reported to other countries.

Request a free quote

9. Netherlands

EUR 1,250,000 (Dutch golden visa)

(Dutch golden visa) Netherlands foreign investor scheme

Residency by investment in Netherlands (passive investments not accepted)

Qualifying investments (business capital, shares, bonds)

No residency requirements (must visit Netherlands once a year for few days)

Dutch Citizenship after 5 years of living (no PR status required)

of living (no PR status required) Permanent residency status after 5 years of uninterrupted living

Free movement in schengen zone with dutch residence permit card (“VERBLIJFSKAART”).

Request a free quote

10. Switzerland

CHF 200,000 to CHF 1 million (swiss business investor visa)

(swiss business investor visa) Swiss business investment programme (swiss golden visa)

Residency by investment (passive investments not accepted eg. real estate)

Qualifying investments (capital investment in a swiss company and create jobs)

Swiss citizenship after 12 years of uninterrupted living ( no PR status needed)

of uninterrupted living ( no PR status needed) Swiss permanent residence card after 10 years of uninterrupted living.

Processing time is 3 months.

Free movement in 26 EU schengen states with swiss permit.

Buying a home or property in Switzerland is allowed.

No requirement to live in Switzerland.

11. Latvia

EUR 100,000 business investment in Latvia or EUR 250,000 Government bonds or EUR 250,000 property investment or EUR 300,000 bank deposit or

business investment in Latvia or property investment or bank deposit or Latvia immigrant investor program (Latvia golden visa)

Residency by investment scheme in Europe.

Permanent residence permits

Cheapest European real estate investment program

Latvian Citizenship after 10 years of living (must have PR status)

of living (must have PR status) No residence requirements.

Latvia is a very popular program among Russian nationals.

Latvian residence permit (Uzturešanas atlauja”) allows free movement in 26 Schengen states.

Request a free quote

12. Hungary

EUR 300,000 (residency bond program – closed from March 2017 )

Government backed residency by investment scheme (Hungary golden visa)

Qualifying investments (risk free hungarian government bonds worth 300,000 euros)

Entire investment 300,000 euros will be returned with no interest after 5 years.

Lifetime permanent residence status in Europe.

No requirement to live in the country.

Free movement in Schengen with hungarian residence permit (Tartózkodási engedély) issued under economic interest

Family and children can apply for Hungarian residency

Processing time is 4 months.

Hungarian citizenship after 8 years of living (requires PR status)

No language tests, no business experience, no health checks, No education required.

Expect additional processing costs 50,000 to 60,000 euros.

No country restrictions, programme open to all country nationals.

Financing options available with agents.

13. Bulgaria

EUR 512,000 (Bulgaria golden visa)

(Bulgaria golden visa) EUR 300,000 (Bulgaria fast track citizenship by investment after 1.5 years financing option)

(Bulgaria fast track citizenship by investment after 1.5 years financing option) Permanent residency by investment in Bulgaria

No free movement in Schengen (Bulgaria is not in schengen)

Qualifying investments (bonds, real estate, business)

Citizenship after 5 years (requires PR status)

(requires PR status) Processing time 2 months.

No residence requirements to live in Bulgaria

14. Moldova

Note: CBI scheme suspended for applications

Newly launched citizenship by investment (CBI) program in 2018

EUR 100,000 one time contribution to Public fund

one time contribution to Public fund Cheapest CBI scheme in eastern Europe

Lifetime citizenship for family and children.

Processing time is 3 months.

Moldova passport has visa free travel to 121 countries including UK, Europe, Russia etc.

Dual citizenship allowed

Moldova is not EU member state and does not belong in schengen area

Request a free quote

15. Monaco

EUR 1,000,000 (investor visa)

(investor visa) Residency by investment (Monaco golden visa)

Residency in richest and second smallest country in the world.

Live in France or Monaco.

Qualifying investments (bank deposit, property purchase)

Citizenship after 10 years of living.

of living. Free movement in 26 schengen states

No residency requirements.

Investment in buying a home or property allowed under the scheme.

Open to EU and non-EU nationals

Flickr https://www.flickr.com/photos/ben124/

16. Andorra

EUR 400,000 (Andorra residency program)

(Andorra residency program) Residency by investment

Qualifying investments: Property investment (real estate)

Andorra citizenship after 20 years of living

of living No free movement in Schengen states.

Processing time is 2 months.

17. France

EUR 300,000 (Talent passport scheme)

(Talent passport scheme) Residency by investment (french investor visa)

Qualifying investments: Startup in a french company with job creation

French citizenship after 10 years of living.

of living. No requirement to live in France

Processing time is 2 months.

No language tests, No interviews, No education required.

Free movement in schengen with carte de sejour

Although Turkey is not a part of Europe, i will list it here

18. Turkey

USD 250,000 (Real estate property investment)

(Real estate property investment) Turkish Citizenship by investment (CIP) launched in 2018

Qualifying investments: Real estate ($250,000), Business ($500K), Bonds/Bank deposit ($500K)

No residence requirements

Turkish citizenship for family and children

No free movement in Schengen states (Turkey is not in schengen)

Turkey offers competitive corporate tax rates in the OECD region

Turkish passport ranked 51 best passport in the world with visa free access to 102 countries.

No requirement to live in Turkey after citizenship.

19. Montenegro

EUR 250,000 or EUR 350,000 (real estate + donation to Government)

or (real estate + donation to Government) Economic Citizenship program open since Oct 2019 limited to 2000 foreign applicants.

limited to 2000 foreign applicants. Second passport in a beautiful country which expects to join EU in 2025 and schengen area

Family and children qualify for Montenegro passport.

No residency requirements. No language tests.

Montenegro passport offers visa free travel to 105 countries in the world including Russia, all of Europe.

Dual citizenship allowed.

Montenegro is a future candidate for EU membership. The country is not a member of Schengen.

Request a free quote

20. Italy

EUR 500,000 in business startups or EUR 2 million in Govt bonds

in business startups or EUR 2 million in Govt bonds Residency by investment (2017 Budget Law, were discussed and approved by the Italian Parliament on 7 December 2016 and made effective as of 1 January 2017)

Qualifying investments: EUR 500,000 in business startups or EUR 2,000,000 in Government bonds, shares or EUR 1,000,000 in public interest projects (culture, education, immigration management, research and development, arts and heritage)

in business startups or in Government bonds, shares or in public interest projects (culture, education, immigration management, research and development, arts and heritage) Italian residence visa issued for 2 years and thereafter renewed (including family members)

Free movement in Schengen countries with Italian residence permit.

Italian citizenship after 10 years of living.

Request a free quote



21. Germany

EUR 100,000 (Business investment must have economic impact and create jobs)

(Business investment must have economic impact and create jobs) Real estate investment possible in some cases

Germany Residency Program (Golden Visa)

No minimum stay requirements

Permanent settlement permit after 5 years

Application approval time is 60 days.

Free movement in Schengen with German residence permit .

German passport rated as the most powerful passport in the World.

German Citizenship after 8 years of living

Request a free quote

22. Jersey

High Value Residency Program in Jersey (Channel islands)

Pay tax of GBP 125,000 to Jersey or GBP 2 million investor program (bonds, bank deposit).

to Jersey or investor program (bonds, bank deposit). Jersey is a low tax jurisdiction with high standards of European living.

International financial center.

No taxes on capital, capital gains, inheritances, gifts, sales or turnover, estate duties

Opportunity to invest in real estate starting from GBP 1.75 million.

British ILR or Citizenship after 5 years of living.

Caribbean

Citizenship by Investment (CBI)

There are 5 countries in the Caribbean offering citizenship by investment (passport) to foreign investors.

1. St Lucia

USD 100,000 (one-time donation to Government fund from 2017) or USD 300,000 property investment or USD 500,000 in Government Bonds

(one-time donation to Government fund from 2017) or property investment or in Government Bonds Economic Citizenship by investment programme (CIP)

Newly launched citizenship program in the Caribbean in 2017

Citizenship through USD 300,000 property investment or $500,000 in Bonds

Permanent residence card with citizenship

No requirement to visit the country for citizenship

Qualifying investments (donation, real estate, business capital, bonds)

St Lucia citizenship certificate and passport in 3 months

No interviews, No english tests, No business experience, No military service.

St Lucia passport offers visa free travel to United Kingdom, Switzerland, France, Germany to 110 countries.

Permanent lifetime citizenship for family and children.

No residence requirements (naturalisation waived to expedite citizenship)

No wealth, gift, inheritance, foreign income or capital gains tax

Confidential and discrete application process.

Citizenship not reported to other countries.

Request a free quote

2. Dominica

USD 100,000 (donation to Government) or USD 200,000 Real estate investment

(donation to Government) or Real estate investment Economic Citizenship by investment program (CIP)

Qualifying investments (donation, real estate)

Dominica Citizenship in 4-6 months with passport

with passport Cheapest, easiest citizenship passport program

Lifetime citizenship with one time payment

Citizenship possible against $200,000 property investment

No requirement to visit Dominica.

Permanent residence card with citizenship.

No interviews, No language tests, No business experience.

Dominica passport offers visa free travel to United Kingdom, Switzerland, Germany to 110 countries.

Citizenship for family and children.

Dominica passport issued valid for 10 years

No residence requirements

No wealth, gift, inheritance, foreign income or capital gains tax

Confidential application process.

Citizenship not reported to other countries.

Request a free quote

3. Grenada

USD 150,000 (donation one-time to government fund) or USD 220,000 Real estate investment

(donation one-time to government fund) or Real estate investment Economic Citizenship by investment program (CIP)

Qualifying investments (donation, real estate, business)

Grenada passport in 2-3 months with citizenship certificate

with citizenship certificate No interviews, No language tests, No business experience.

Apply for E-2 business visa to USA with Grenada passport

Grenada passport offers visa free travel to China, United Kingdom, Switzerland, Germany to 110 countries.

Lifetime Citizenship for family and children.

No requirement to live in Grenada.

Permanent residence card issued with citizenship.

Grenada passport issued valid for 5 years.

Citizenship possible through $350,000 property investment in luxury hotels, villas, resorts or homes.

No wealth, gift, inheritance, foreign income or capital gains tax

Confidential application process.

Citizenship not reported to other countries.

Request a free quote

4. St Kitts & Nevis

USD 150,000 (one-time donation to Sustainable Growth Fund) or USD 200,000 Property investment

(one-time donation to Sustainable Growth Fund) or Property investment Economic Citizenship by investment program (CIP)

Oldest and most popular citizenship program since 1984

Citizenship possible through $400,000 property investment in St Kitts real estate.

Citizenship granted in 3-4 months with passport

with passport No interviews, No language tests, No business experience.

St Kitts passport offers visa free travel to United Kingdom, Switzerland, Germany to 120 countries.

Citizenship for family and children.

No residence requirements and no requirement to visit or live in St Kitts

No wealth, gift, inheritance, foreign income or capital gains tax

Discrete and Confidential application process.

Citizenship not reported to other countries.

Lifetime citizenship for family and children

St Kitts passport issued is valid for 10 years.

Request a free quote

5. Antigua & Barbuda

USD 100,000 (one-time donation to NDF government fund) or USD 150,000 contribution UWI University Fund or USD 200,000 Real estate investment.

(one-time donation to NDF government fund) or USD 150,000 contribution UWI University Fund or Real estate investment. Economic Citizenship by investment program (CIP)

Qualifying investments (donation, real estate, business capital)

Antigua citizenship/passport in 3 months .

. Antigua passport valid for 5 years and must be present in the country for 5 years to renew the passport after expiry.

Permanent residence card with citizenship.

Citizenship through $400,000 real estate investment in approved Antigua property developments.

No interviews, No language tests, No business experience.

Antigua passport offers visa free travel to United Kingdom, Switzerland, Germany to 120 countries.

Lifetime Citizenship for family and children against one time investment.

No wealth, gift, inheritance, foreign income, capital gains taxes

Confidential and discrete citizenship application process.

Citizenship is confidential and not reported to other countries.

Antigua allows dual citizenship allowed with other countries.

Request a free quote

Americas

Investor migration programmes in the United States and Canada are very popular.

1. United States

USD 900 ,000 or USD 1,800,000 (EB-5 investor 2019 changes from Nov 21)

or (EB-5 investor 2019 changes from Nov 21) World’s most popular immigrant investor program

Business investment with job create in major urban or rural US cities.

Residency by investment (Green card permanent resident status)

Qualifying investments (business venture, real estate projects, other investments that create jobs through regional centers)

US Citizenship after 5 years of uninterrupted living

of uninterrupted living Live anywhere in the US.

Must live permanently in the US, not absent for more than 3 months.

US imposes taxes on worldwide income to EB5 investors

Processing time anywhere 15-18 months.

Family and children qualify for green card.

Request a free quote

2. Canada

Quebec investor program QIIP (limited quota of 1900 every year)

Investment can be financed for CAD 250,000 (instead of C$1.2m)

(instead of C$1.2m) Permanent residency by investment in Quebec, Canada

Risk free investment as investment money refunded after 5 years.

Must move and live in Canada permanently (cannot be absent for more than 3 months)

Qualifying investments (business investment creating jobs)

Education, language skills, business experience, net assets are required to qualify

Canadian citizenship after 3 years of living (requires PR status)

of living (requires PR status) Long processing times and often overcrowded. because of limited country quota .

Canadian taxes apply for holders of permanent resident status.

Financing options available.

Request a free quote

3. Fiji

USD 125,000 (Fiji investment visa)

(Fiji investment visa) Residency by investment

Qualifying investments: real estate, property investment

Fiji Citizenship after 5 years of living

of living No requirement to permanently live in Fiji

Family and children qualify for visa.

4. Bahamas

USD 500,000 (Bahamas investor program)

(Bahamas investor program) Residency by investment (permanent residency)

Qualifying investments: Real estate property investment

Bahamian citizenship after 10 years of living

of living No corporate income tax, value added tax, or wealth tax

Purchase a property or home in Bahamas

5. Colombia

USD 200,000 (Colombia investor program)

(Colombia investor program) Residency by investment

Qualifying investments (real estate, business investment)

Colombian Citizenship after 10 years of living (exceptions are spanish, caribbean nationals can get in one or two years)

of living (exceptions are spanish, caribbean nationals can get in one or two years) No requirement to live in the country

Family and children qualify for investor visa.

6. Panama

USD 200,000 (Panama investor program)

(Panama investor program) Residency by investment (permanent)

Qualifying investments: Real estate investment

Panama citizenship after 5 years of living in Panama.

of living in Panama. Tax haven for offshore company formations.

Property investment in Panama real estate market.

No exchange controls, No tax treaties with other countries.

7. Brazil

Brazil golden visa scheme launched in 2018

USD 140,000 ( VIPER program) or

( VIPER program) or Brazil real estate USD 180,000

Residency by investment (permanent)

Qualifying investments: business, real estate property

Citizenship after 4 years .

. Buy a real estate or invest in business in Brazil

No requirement to live in the country.

Brazil passport ranked 21st best passport in the world.

Asia

There are three popular residency programs in Asia.

1. Hong Kong

USD 800,000 (Hong Kong business investment visa)

(Hong Kong business investment visa) Residency by investment program

Qualifying investments (business enterprise)

Investment in biggest asian financial capital and trade center.

Hong Kong Citizenship after 7 years of living ( acquiring chinese nationality, cant be dual citizen)

of living ( acquiring chinese nationality, cant be dual citizen) Low tax jurisdiction on corporate and income taxes .

Hong kong passport ranked 20th best passport in the world with visa free access to 154 countries.

2. Singapore

SGD 2,500,000 (USD 1.85m) (Global investor program)

(Global investor program) Residency by investment (PR status) in the best asian city to live.

Qualifying investments (business venture)

Singapore Citizenship after 2 years of PR status .

. Best scheme for making substantial financial investment in Singapore.

Spouse and unmarried children given permanent residence status along with investor

Favourable tax regime benefiting foreign investors

Singapore passport ranked top 5 best passports in the world.

Singapore is single citizenship country (dual citizenship not allowed)

3. Seychelles

USD 1,000,000 (business venture capital)

(business venture capital) Residency by investment (given PR status)

Qualifying investments (business venture)

Offshore tax haven with bank secrecy laws famous for company incorporations.

Seychelles Citizenship after 11 years of living.

of living. Spouse and minor children can apply for PR.

4. Mauritius

USD 500,000 (Mauritius investor program)

(Mauritius investor program) Qualifying investments: Real estate property investment program

Mauritius Citizenship after 2 years of living

of living Biggest offshore financial center and low tax jurisdiction for trading and shipping companies.

No requirement to live in the country.

Investments in hotels, resorts or real estate developments.

Family and children can qualify for immediate residency.

5. Cambodia

Cambodian citizenship by investment program (Article 12 Law of Nationality 1996)

USD 250,000 (1 billion riels) cash donation to rebuild economy of Cambodia or USD 1.5 million investment in Cambodia

(1 billion riels) cash donation to rebuild economy of Cambodia or investment in Cambodia No residence requirements.

Dual citizenship allowed along with Khmer nationality.

Cambodian passport offers visa free travel to 48 countries.

Citizenship for family.

Oceania

Immigration to Australia and New Zealand through investor schemes are immensely popular.

1. Australia

AUD 1,500,000 (SIV Significant investor stream visa)

(SIV Significant investor stream visa) Residency by investment scheme most popular among HNW investors

Qualifying investments (business investment activity)

Australian Citizenship after 4 years of living

Must spend 40 days every year in Australia.

Australian residency offered to family and children.

Fast application process with 2 months processing time.

Request a free quote

2. New Zealand

NZD 3,000,000 (NZ Investor 1 and 2 stream)

(NZ Investor 1 and 2 stream) Investor visa scheme suited for Ultra High-net worth investors

Residency by investment

Qualifying investments (mix of funds, bonds, assets)

New Zealand Citizenship after 5 years

Request a free quote

3. Vanuatu

USD 130,000 one time contribution (fastest citizenship within 1.5 months and simple application process)

one time contribution (fastest citizenship within 1.5 months and simple application process) Vanuatu Citizenship by Investment (DSP and VCP Contribution program)

Qualifying investments: One time contribution

Vanuatu citizenship in 1 month (fastest processing times)

No income tax, capital gains or estate taxes

Vanuatu passport offers visa free access to 126 countries including EU schengen states, UK, Russia .

. Freedom becoming a dual citizen.

Additional costs apply for family application.

4. Samoa

USD 1.65 million investment in real estate, tourism, agriculture, IT etc

investment in real estate, tourism, agriculture, IT etc Samoa Citizenship by Investment Program

Citizenship after 3 years of holding permanent residence card.

of holding permanent residence card. Must hold net assets of US$ 1 million

Dual citizenship allowed

Samoa passport has visa free travel to Russia, Canada, United Kingdom, Schengen Area to 114 countries

Which one is the best citizenship by investment passport?

Here is our verdict:

Cheapest citizenship/passport: Antigua (families), Dominica and St Lucia (one person)



Best European citizenship/passport: Cyprus

Fastest Citizenship / Passport: Vanuatu (1.5 months)

Most valuable citizenship/passport: Malta, Bulgaria

Fastest European citizenship/passport: Cyprus, Montenegro

Best European Golden visa: Portugal, Greece, Malta



Best Caribbean citizenship/passport: Grenada , St Kitts and Nevis

, Best Property investment golden visa: Greece, Portugal

What about Dual Citizenship?

If you get a new citizenship in a foreign country, you have to think about dual citizenship laws. In countries such as China, India, Qatar, Saudi Arabia, dual citizenship is prohibited.

Country Dual citizenship Country Dual Citizenship United Kingdom Allowed Panama Allowed Spain Allowed France Allowed Belgium Allowed Andorra Not Allowed United States Allowed Mauritius Not Allowed Netherlands Not Allowed Fiji Allowed Austria Allowed

(by exception) St Kitts & Nevis Allowed Singapore Not Allowed Dominica Allowed Canada Allowed Antigua & Barbuda Allowed Switzerland Allowed St Lucia Allowed Ireland Allowed Grenada Allowed Portugal Allowed Comoros Allowed New Zealand Allowed Bahamas Not Allowed Greece Allowed Seychelles Not Allowed Australia Allowed Hong Kong Allowed (in general) Malta Allowed Latvia Allowed Hungary Allowed Monaco Not allowed Cyprus Allowed Brazil Allowed Brazil Allowed Vanuatu Allowed India Not Allowed Colombia Allowed Turkey Allowed Vanuatu Allowed

Dual citizenship NOT allowed if you are born in these countries

Afghanistan

Andorra

Azerbaijan

Bahrain

Bangladesh

Belarus

Bhutan

Brunei

Cameroon

China

Republic of Congo Democratic Republic

of Congo

of Congo Cuba

Eritrea

Estonia

Ethiopia

Gabon

Equatorial Guinea

Guyana

Honduras India

Indonesia

Japan

Kazakhstan

Kirbati

Kuwait

Laos

Liberia

Libya

Liechtenstein

Madagascar Malawi

Malaysia

Maldives

Marshall Islands

Mauritania

Micronesia

Mongolia

Mozambique

Myanmar

Nepal Netherlands

North Korea

Paraguay

Qatar

Rwanda

Saudi Arabia

San Marino

Seychelles

Singapore

Solomon Islands Somalia

Suriname

Tanzania

Timor Leste

Trinidad and Tobago

Turkmenistan

Ukraine

United Arab Emirates

Uzbekistan

Yemen

Zimbabwe

Quick Summary

Here are a quick summary of all the citizenship and residency programs currently available

1. Citizenship by Investment Passports (CIP)

Country Started in Minimum Investment ** Investment Residency requirements Time for Passport Visa free 2019 Malta 2013 € 900,000 Donation + Bonds 12 months 15 months 183 Bulgaria 2010 €1,000,000 Bonds 2 years 2 years 170 Cyprus 2011 € 2,150,000 Real Estate / Business 6 months 4 months 173 Dominica 1993 $100,000 Donation none 2 months 137 St Kitts & Nevis 1984 $150,000 Donation none 4 months 154 Antigua & Barbuda 2013 $100,000 Donation 5 days 3 months 149 Grenada 2014 $150,000 Donation none 2 months 142 St Lucia 2015 $100,000 Donation none 2 months 145 Montenegro 2018 € 250,000 Real Estate + Donation 3 weeks 3 months 122 Vanuatu 2017 $130,000 Donation none 1 month 130 Turkey 2018 $250,000 Real Estate none 2 months 112

2. Residency by Investment Programs

Country Started in Minimum Investment ** Investment Residency requirements Time for citizenship Portugal 2012 € 350,000 Real estate 7 days/year 6 years Spain 2012 € 500,000 Real estate none 10 years United States 1993 $ 900,000 Employment must live permanently in US 5 years United Kingdom 1994 £ 2,000,000 Bonds / Shares must live permanently in UK (9 months per year) 6 years Canada 1990 C$ 1,200,000 Govt Bonds Immediate PR but must live in Canada for citizenship 3 years Greece 2014 € 250,000 Real estate none 7 years Hungary 2015 € 300,000 (closed) Bonds none 8 years Latvia 2010 €250,000 Business none 10 years Italy 2017 €500,000 Startups 10 years Australia 2012 A$ 1,500,000 Business 40 days/year 4 years Switzerland 2011 $ 1,000,000 Business must live permanently 10 years New Zealand N$ 3,000,000 Business 146 days/year 5 years Belgium 2012 € 300,000 Business none 5 years Ireland 2012 € 500,000 Endowment 1 day 5 years Netherlands 2014 € 1,250,000 Startups funds none 5 years Bulgaria 2009 € 512,000 Real estate none 4 years Malta 2012 € 125,000 Bonds/Stocks must live permanently 5 years Cyprus 2012 € 300,000 Real Estate must live permanently 8 years

3. Qualifying Investment Routes to Citizenship

Real Estate Investment Donation to Government fund Government bonds Business Investment Bank Deposit Art, Culture, Research, Public Interest Spain

Portugal

Latvia

Ireland

Malta

Cyprus

Andorra

Monaco

St Kitts & Nevis

Antigua & Barbuda

Dominica

St Lucia

Grenada

Panama

Fiji

Bahamas

Greece

Turkey Malta

St Kitts & Nevis

Dominica

Antigua & Barbuda

St Lucia

Comoros

Vanuatu

Grenada United Kingdom

Hungary

St Lucia

Canada

Cyprus

Malta

Bulgaria

Turkey Australia

New Zealand

Belgium

Switzerland

Portugal

Spain

St Lucia

Hong Kong

Singapore

United States

United Kingdom

Netherlands

Latvia

Seychelles

Antigua & Barbuda

St Lucia

Ireland

Netherlands

Italy Cyprus

Latvia

United Kingdom

Turkey Portugal

Spain

Ireland

If you are interested in any of these programs please contact us for a free quote with private consultation.

Official Government References

Please note for all the programs, as per Government rules, you have to apply through authorised agents and service providers rather than approaching the Government directly. Please contact me and i will help you with a consulting agent.

United Kingdom – https://www.gov.uk/tier-1-investor/overview

– https://www.gov.uk/tier-1-investor/overview Portugal – http://www.sef.pt/portal/v10/en/aspx/apoiocliente/detalheApoio.aspx?fromIndex=0&id_Linha=6269

– http://www.sef.pt/portal/v10/en/aspx/apoiocliente/detalheApoio.aspx?fromIndex=0&id_Linha=6269 Spain – http://www.exteriores.gob.es/

– http://www.exteriores.gob.es/ Ireland – http://www.inis.gov.ie/en/inis/pages/new%20programmes%20for%20investors%20and%20entrepreneurs

– http://www.inis.gov.ie/en/inis/pages/new%20programmes%20for%20investors%20and%20entrepreneurs Hungary – http://www.mfa.gov.hu/NR/rdonlyres/1A5BB49E-75C4-429D-A6E0-0D3E753838BC/0/program_overview_EN.pdf

– http://www.mfa.gov.hu/NR/rdonlyres/1A5BB49E-75C4-429D-A6E0-0D3E753838BC/0/program_overview_EN.pdf Greece – http://www.enterprisegreece.gov.gr/en/greece-today/living-in-greece-/visa-information

– http://www.enterprisegreece.gov.gr/en/greece-today/living-in-greece-/visa-information Belgium – http://diplomatie.belgium.be/en

– http://diplomatie.belgium.be/en Latvia – http://www.pmlp.gov.lv/en/

– http://www.pmlp.gov.lv/en/ Netherlands – https://ind.nl/en/other/Pages/Investing-in-the-Netherlands.aspx

– https://ind.nl/en/other/Pages/Investing-in-the-Netherlands.aspx Malta – http://iip.gov.mt/

– http://iip.gov.mt/ Greece – http://www.mfa.gr/missionsabroad/images/stories/missions/uae/docs/permit_ependytes_en.pdf

– http://www.mfa.gr/missionsabroad/images/stories/missions/uae/docs/permit_ependytes_en.pdf Cyprus – http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB

– http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB Switzerland – https://www.efd.admin.ch/efd/en/home/themen/steuern/steuern-national/lump-sum-taxation.html

– https://www.efd.admin.ch/efd/en/home/themen/steuern/steuern-national/lump-sum-taxation.html Italy – https://investorvisa.mise.gov.it/index.php/en/

– https://investorvisa.mise.gov.it/index.php/en/ Monaco – http://en.gouv.mc/

– http://en.gouv.mc/ Andorra – http://www.exteriors.ad/en/

– http://www.exteriors.ad/en/ Bulgaria – http://www.investbg.government.bg/en/

– http://www.investbg.government.bg/en/ Turkey – http://www.mfa.gov.tr/guidance-for-foreigners.en.mfa

– http://www.mfa.gov.tr/guidance-for-foreigners.en.mfa Jersey – https://www.gov.je/Home/RentingBuying/HousingLaws/Pages/highvalueresidency.aspx

Dominica – http://cbiu.gov.dm/

– http://cbiu.gov.dm/ St Kitts and Nevis – http://www.ciu.govt.kn/

– http://www.ciu.govt.kn/ Antigua and Barbuda – http://www.cip.gov.ag/

– http://www.cip.gov.ag/ Grenada – http://www.cbi.gov.gd/

– http://www.cbi.gov.gd/ Saint Lucia – https://www.cipsaintlucia.com/

– https://www.cipsaintlucia.com/ Montenegro – http://www.mia.gov.me

– http://www.mia.gov.me Vanuatu – http://www.vancitizenship.gov.vu

United States – https://www.uscis.gov/eb-5

– https://www.uscis.gov/eb-5 Canada – http://www.immigration-quebec.gouv.qc.ca/en/immigrate-settle/businesspeople/applying-business-immigrant/three-programs/investors/

– http://www.immigration-quebec.gouv.qc.ca/en/immigrate-settle/businesspeople/applying-business-immigrant/three-programs/investors/ Fiji – http://www.immigration.gov.fj/seven-7-years-investor-permit

– http://www.immigration.gov.fj/seven-7-years-investor-permit Bahamas – http://www.bahamas.gov.bs/wps/portal/public/Permits/

– http://www.bahamas.gov.bs/wps/portal/public/Permits/ Panama – http://www.mire.gob.pa/

– http://www.mire.gob.pa/ Brazil – http://cgwashington.itamaraty.gov.br/en-us/permanent_visa_(viper).xml

– http://cgwashington.itamaraty.gov.br/en-us/permanent_visa_(viper).xml Colombia – http://www.cancilleria.gov.co/en/content/resident-investor%E2%80%99s-visa

Australia – https://www.border.gov.au/Trav/Visa-1/891-

– https://www.border.gov.au/Trav/Visa-1/891- New Zealand – https://www.newzealandnow.govt.nz/move-to-nz/new-zealand-visa/visas-to-invest/investor-visa

– https://www.newzealandnow.govt.nz/move-to-nz/new-zealand-visa/visas-to-invest/investor-visa Vanuatu – https://gov.vu/acts-in-relation-to-ciip.html

Hong Kong – http://www.immd.gov.hk/eng/services/visas/capital_investment_entrant_scheme.html

– http://www.immd.gov.hk/eng/services/visas/capital_investment_entrant_scheme.html Singapore – https://www.edb.gov.sg/content/edb/en/why-singapore/ready-to-invest/setting-up/entering-singapore.html

– https://www.edb.gov.sg/content/edb/en/why-singapore/ready-to-invest/setting-up/entering-singapore.html Seychelles – http://www.ics.gov.sc/phocadownload/permanent_resident.pdf

– http://www.ics.gov.sc/phocadownload/permanent_resident.pdf India – http://pib.nic.in/newsite/PrintRelease.aspx?relid=149376

– http://pib.nic.in/newsite/PrintRelease.aspx?relid=149376 Mauritius – http://www.investmauritius.com/faqs/pr-permit.aspx

– http://www.investmauritius.com/faqs/pr-permit.aspx Cambodia – http://www.cambodiainvestment.gov.kh/wp-content/uploads/2012/09/LAW-96-Nationality-E.pdf

– http://www.cambodiainvestment.gov.kh/wp-content/uploads/2012/09/LAW-96-Nationality-E.pdf Samoa –http://www.mcil.gov.ws/images/2016/WebsitePDF/IDIP/CitizenshipInvestmentBrochure.pdf

About Best Citizenships

Best Citizenships is a citizenship planning comparison platform for global investment citizenship and residency programs in the world. We work with trusted partners providing wide range services, such as , real estate, tax planning and immigration to very wealthy investors and their families. Best Citizenships has assisted several investment firms, investors and families to immigrate to Europe and North America over the past 8 years.

Please contact us below for more information and our team is happy to assist with your queries.

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