Showing posts with label Duel Citizenship option. Show all posts
Showing posts with label Duel Citizenship option. Show all posts

Duel Citizenship option in European Countries

Investing in property or an approved investment fund is easiest way to citizenship in some European Countries.

Commonwealth of Dominica
Commonwealth of Dominica has recently introduced new changes on the CIPs investment and fee amounts along with the definition of dependents. The contribution for a family of four under the Economic Diversification fund is now US$175,000, down from US$200,000. The non-contribution fund for a married couple is now US$150,000, down from US$175,000. In addition, siblings may now be included in a contribution-option application for an additional contribution of either US$50,000 (for those aged 18-25) or US$25,000 for those aged 18 below.

Saint Lucia
Investors will now be able to qualify for Saint Lucia citizenship through the purchase of a fully refundable Government bond, called the COVID-19 Relief Bond. The minimum investment is US$250,000 without interest. This bond option is available for a limited time up to December 31, 2020.

Saint Kitts
The non-refundable contribution amount for a family of four in St. Kitts has been reduced to US$150,000 (from US$195,000). This is valid till December 31, 2020. The fee for single applicant still remains at US$150,000.

Portugal

Portugal maintained proper precautionary measures against fighting the disease and has overcome the crisis. Amidst the lockdowns and travel restrictions, Portugal’s Golden Visa programme has significantly become popular and a lot of applicants are approved in the first months of the year.

PORTUGAL
This is the most popular and was launched in 2012. For a €500,000 (Dh2.08 million) investment in property, a residency permit is granted for a family, and is renewed every two years as long as the applicant spends at least 14 days there during every one-year period.

GREECE
Like Portugal, Greece offers a residency visa programme for an investment in real estate. The plan was introduced in 2013 and offers a five-year permit. Unlike Portugal, there is no minimum stay period. Full citizenship may be granted after seven years.

CYPRUS
The Mediterranean island nation offers two schemes, again through purchase of property. One offers permanent residency, the other citizenship, and both are considered the quickest and most efficient way for non-EU nationals to obtain a second EU passport.

IRELAND
Foreign investors from outside the European Union who put in more than €1 million into an approved investment fund can gain Irish residency. Applicants must have a net worth of at least €2 million, have no criminal record and pass background character checks.

SPAIN
Following the downturn in real estate, Spain began to offer residency permits to foreigners who invest at least €500,000 in property. The visa is renewable every two years and there’s no need for the foreigner nations to live in the country during that time to renew it.

UNITED KINGDOM

Foreigners can apply for a Tier-1 visa, requiring a £2 million (Dh9.64 million) investment in property, allowing for a residency permit of 40 months. Applicants can apply to extend this for two more years, apply for indefinite leave to stay after five years, and seek full UK citizenship after six years.

MALTA
The island nation offers a full citizenship scheme aimed at high-worth foreigners. Applicants must put at least €650,000 into a national investment fund, invest $150,000 (Dh550,950) into government-approved approve funds, and invest at least €350,000 in property. After a year’s residency, a full Maltese passport is issued along with citizenship.

Malta has a program in place for foreigners who want to acquire a second passport called Malta Individual Investor Program (MIIP).

The primary requirement is for the applicant to raise approximately 1 million euros as a “contribution” into the economy of Malta.

A huge chunk of the capital (650,000 euros) will go into the country’s development fund as a donation, while at least 350,000 is allocated for the purchase of real estate or, the applicant can opt to take out a property lease for at least 16,000 euros every year for a period of five years. Another 150,000 euros will go into government-approved financial instruments.

* The Maltese passport also allows holders visa-free access to the United States, although they are required to apply online to get a “travel authorization,” which will approve an applicant on the same day. This is also has to be renewed every two years.

Some of the countries that offer a second citizenship:

Cyprus
One of the most highly recommended destinations, Cyprus can issue a European passport in only six months without requiring applicants to relocate. A Cypriot passport allows citizens to visit more than 100 countries visa-free and offers them a chance to live and work anywhere in the European Union.

Cost: Investment of 2 million euros in luxury real estate, which can be sold after three years.

Number of countries with visa-free/ on arrival access: 156

Grenada
Those who are able to obtain a second passport from this Caribbean country can also enjoy residency in the United States. Grenada is said to be the only Caribbean state that allows citizens visa-free access to China – something that entrepreneurs can really take advantage of, especially if they have business operations and ties with China. Applicants are not required to relocate.

Number of countries with visa-free/ on arrival access: 127, including China, Schengen states and the United Kingdom

Cost: US$200,000 contribution to Grenada’s National Transformation Fund

Dominica
The country has a citizenship by investment program established since 1991 and it allows full rights in exchange for a sum of US$100,000. Like a few other countries, Dominica doesn’t require applicants to live in the country.

Cost: US$100,000 contribution to Dominica’s government fund

Number of countries with visa-free/ on arrival access: 123

Antigua & Barbuda
This island state in the eastern Caribbean Sea is reputed for its beaches and rainforests. Wealthy individuals who opt to have a second passport from this country don’t need to move there, but they’re required to pay their host a visit for at least five days. That’s not much compared to having to settle in another foreign land for years before acquiring a citizenship, as required in many other destinations.

Cost: US$250,000 contribution to the National Development Fund or an investment of US$400,000 in the country’s government-approved project. The country currently offers the option for a family of four members to make a financial contribution of $125,000.

Number of countries that offer visa-free/ on arrival access: 131, including Schengen, UK, Singapore, Hong Kong

Saint Lucia
Another popular destination in the Caribbean, Saint Lucia offers individuals and their families a chance to get a second citizenship without relocating. Applicants are not even required to visit the country. All they have to do is set aside US$100,000, to get instant visa-free travel to over 100 countries worldwide.

Cost: US$100,000 contribution to St. Lucia’s National Economic Fund or an investment in a government-approved project

Number of countries with visa-free/ on arrival access: 128, including Schengen, United Kingdom, Singapore, Hong Kong

Saint Kitts & Nevis
Another Caribbean country, Saint Kitts & Nevis offers citizenship without requiring applicants to relocate. Passport holders in this country are free to travel to more than 100 destinations worldwide without obtaining a visit visa.

Cost: US$150,000 contribution to the Sugar Industry Diversification Fund or a real estate investment of $US400,000 in any government-approved project.

Applicants looking for St Kitts and Nevis citizenship have two choices. The first is a donation to the Hurricane Relief Fund (HRF) which requires a contribution of $150,000 (Dh550,500) for a single applicant with up to three dependents. In the second option, they are required to invest a minimum of $200,000 in an approved project and also pay $75,000 towards real estate fees.

Number of countries that offer visa-free/ on arrival access: 133, including Schengen states and United Kingdom.

Portugal
Portugal doesn’t provide instant citizenship, but applicants are not required to actually live there. Interested individuals are first required to obtain a residency card and keep it for six years before a citizenship can finally be granted. The card is issued in exchange for an initial investment in real estate.

Cost: Initial investment of 500,000 in property

Number of countries that offer visa-free/ on arrival access: 163 (GN) read more
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