By the definition, citizenship is a relationship between an individual and a host country. Therefore, the individual is granted some of the basic human rights such as the right to vote, work, own property. In return, the individual must follow the law and customs of the host country. To attain the citizenship of the specific country, you must go with the three principles. The first one is to be born in the country. The second one is the process of naturalization. The third one is connected with marriage. The process of naturalization is the process where the individual acquires the citizenship of the host country by spending some number of years there. Since 1984, one of the ways to gain the citizenship of a specific country is by investment.
Citizenship by investment (“golden passport” or “cash-for-passports”) or residence by investment (“golden visa”) is the process of getting a second citizenship and passport based on the investments you make in the economy of the host country. You can either share the stock in the company or be in the possession of the real estate. Citizenship by investment allows a person to attain citizenship a lot faster compared to the traditional immigration process. In the following text, you may find all you need to know about citizenship by investment programs, and how they function.
Perks of Citizenship Investing
There is a huge number of reasons why citizenship by investing is a good idea. First, it guarantees you a second passport, all the traveling privileges, and a visa-free travel experience. It ensures your monetary independence and global mobility. Applications for this type of citizenship can be approved within three months. The reason for this is that this type of investment benefits the economy of the host country. Once you own any kind of possession you are obliged to pay taxes to the host country. It is not only the financial side of citizenship by investing that is beneficial. Some other things of great importance come with second citizenship.
The second passport from a stable country can be your save card if there is any kind of political distress in your country. The second passport grants better global mobility. This means you can visit a greater number of countries visa-free. This is the reason why the entire program is referred to as a “golden visa”. One of the examples is the Portugal Golden Visa, which offers you the possibility to obtain citizenship and the rights granted by the law. Most of the citizenship by investment-friendly countries have a greater number of countries you can visit without a visa. This kind of citizenship obtain can be beneficial for your business. It is more open for the business offers and helps you connect with new people and companies. One of the best sides of the citizenship by investment programs is the possibility to include the family members of the main applicant. It ensures their better future and grants them better education, healthcare, and lifestyle.
What are the Benefits of the Host Countries
A lot of countries offer citizenship by investment because they attract so much-needed international direct investments. Later, the host country uses these funds for specific purposes such as national projects, real estate development, health, education, etc. Multiple countries are already engaged in the program. For example, Granada, a Caribbean island, is an investment paradise. It has multiple sources of benefit not only for the national significance but for the international direct investments as well. Firstly, the application process for the real estate ownership is a couple of months matter. Grenada offers, to the potential investors, the possibility to obtain the estate of 350,000 dollars in value. Besides all the other benefits, Granada grants you lifetime residence and a second passport by owning the real estate in the territory.
Be very careful. Of course, there are scams. For becoming a citizen by investment there must be a legal procedure. Getting the second passport has four criteria that must be included. The very process of citizenship by investment is fast, commoditized, fast, and legal. The application process is very structured and the application affirmation is a fast process. If all four requirements are not met, it does not qualify as the citizenship by investment program. If you ever decide to go down with this sort of citizenship application, make sure to do it within the secure and real investment program. Otherwise, it can be very risky.
Citizenship by Investment Friendly Countries
Worldwide 30 countries offer citizenship by investment possibility. But, there are nine of them that provide a direct route to citizenship depending on the investment. These nine countries are St Kitts & Nevis, St Lucia, Turkey, Montenegro, Grenada, Dominica, Antigua& Barbuda, Malta, Austria. The process of application in these countries is from three to six months long. There are few basic things you must pay attention to. These are the process of application, key benefits of citizenship by investment, and investments themselves. When it comes to investments, these countries are favorable because they do offer two options- donations and investments. Depending on the personal preferences and the plan of the investor.
Citizenship by investment programs offers you a wide scope of possibilities. The most important benefit from the entire program is the second passport and all the legal rights the host county grants to their regular citizens.
Global mobility is yet another perk of citizenship by investment programs. It is why the other name of the program is the “golden visa” program. Most of the programs included countries that have a huge number of countries they can travel to without having a visa. Besides global mobility, there are healthcare, lifestyle, education, and a lot more things that can be much better than in your original country. All of the rights are granted not only to the original investor but to their families as well. Citizenship by investment is a great opportunity for the ones who can afford the real estate or donation to the other country.