The world has become a global village and it is now easier for people to travel and settle in countries outside than ever before. Over 100 countries offer citizenship or residency permits to foreigners for investment in real estate projects. These programs, also known as “Golden Passports”, allow the applicants to acquire alternative citizenship, personal safety, greater mobility along with visa-free travel freedom. The applicants can choose a country by considering the following:
- Minimum investment amount.
- Processing and passport time.
- Visa free entry to the number of countries.
Malta:
The Maltese passport is amongst the most powerful in the world as it offers visa-free travel to 183 countries worldwide. However, it implies the world’s strictest rules to obtain citizenship ensuring only highly respectable citizens. By 2021, it offers citizenship by naturalization for exceptional services by direct investment. This means that the investor can apply for citizenship after residing for a specific period in Malta fulfil the following requirements:
- The main applicant has to contribute at least €600,000 to the national development fund set up by the Maltese government after completing three years of residency.
- There is an expedited route in which a contribution of at least €750,000 is required after one year of residency.
- Dependent family members can also be included in the application by investing an additional amount of €50,000 each.
- Applicants must commit to retaining an immovable residence in Malta for a minimum period of five years by either buying a residential property worth at least €700,000 or by leasing a property with a minimum annual rent of €16,000 and maintaining it for five years.
- The applicant must also donate €10,000 to a registered and compliant charitable organization.
- The applicant must be at least 18 years of age and have good health. They also have to pass the fit and proper test.
Vanuatu:
Vanuatu is one of the fastest countries to become a world citizen by investment. It has the simplest and cheapest citizenship by investment conditions in the world and is the only program in the South Pacific. Vanuatu has a favorable tax regime with no tax on income, inheritance or gains. The application processing time usually takes 45 days, and you can get your passport within two months. Vanuatu’s passport offers visa-free entry to 136 countries. The main criteria for this program are as follows:
- The age limit for the applicant at the time of lodging application is over 18 years and under 65 years.
- The applicant must have a clean criminal record.
- The minimum investment amount for an individual is $130,000 or $180,000 for a family of four. More dependent members can be added for an extra fee of $15,000 each. As proof that you can meet this requirement, you must have no less than $250,000 in your bank account.
- The program is not open to nationals from Iran, Iraq, Syria, North Korea, or Yemen unless the individual has a permanent residence outside such countries and has lived outside of the country for more than five consecutive years.
Turkey:
The CBI program of turkey comes with many advantageous terms. Its citizenship provides visa-free travel to more than 110 countries and eligibility to apply for an E2 investor visa. The spouse and family members of the investor are also eligible for citizenship. The foreigners can apply for Turkish citizenship by:
- Investment of $400,000 worth in housing, workplace, estate, or similar properties. Investors may also gain rental income from their real estate investments or sell them after three years.
United Arab Emirates:
The United Arab Emirates has also launched its CBI program in January 2021. Its main focus is to boost the country’s talent pool and the overall economy.
- The UAE has recently relaxed its residency regulations for foreigners by reducing the minimum investment amount from AED5 million to AED2 million.
- The duration of the visa extends to 10 years which was, previously 5 years.
Spain:
Spain is a part of the European Union which means that the citizens can travel visa-free to Schengen Zone countries along with their family members. The applicant must live in the country for at least six months out of the year for 10 years to get the passport.
- To qualify for the CBI program in Spain you must invest a minimum amount of €600,000 in real estate.
Grenada:
The Grenada CBI program offers a low-cost entry for a second passport, introduced in 2013. It provides visa-free travel to over 153 countries. Grenada also offers access for its citizens to the USA E2 treaty investor visa. There is no tax on worldwide income. The processing of the application takes around 4 months and includes all the dependent family members.
- Applicants need to invest either $150,000 as a donation or $220,000 in a government-approved real estate project and maintain the property investment in Grenada for at least 5 years.
Dominica:
Dominica, also known as the “commonwealth of Dominica” is an island country and has an excellent international reputation. Its citizenship provides visa-free access to more than 145 countries around the world. The citizenship by investment program of Dominica primarily includes:
- A real estate investment of a minimum of $220,000.
- A donation of a minimum of $100,000 for a single applicant.
- Donation to Government Economic Diversification Fund.
For application visit Aston immigration consultancy.
Antigua and Barbuda:
Antigua and Barbuda is a very unique country, surrounded by lots of natural beaches, in the Caribbean region. The CBI program of Antigua and Barbuda was established in 2012. It includes all the dependent family members of the main applicant.
- The minimum investment amount of $200,000 in any government-approved real estate project.
Cyprus:
The Cyprus citizenship by investment program is the quickest route to citizenship in all European countries. It is the only direct citizenship program in Europe offering such a simple way of obtaining dual citizenship without residency requirements. Cyprus provides visa-free access to over 173 countries worldwide. It offers two types of investment programs:
- To get Cyprus citizenship by investment, the applicant must purchase real estate property worth at least €2 million.
- For permanent residence, the investment requirement is less, standing at €300,000.
Portugal:
Portugal’s citizenship by investment program has proven to be the most popular scheme in Europe due to its flexibility and benefits. Portugal provides world-class education and healthcare services. Its passport holds the 6th strongest position around the globe and allows visa-free travel across 175 countries. All the dependent family members of the applicant are included.
- The applicant can get citizenship by investing an amount of €500,000, in Lisbon and Porto, after five years without the need to reside in Portugal full time.
- The applicant and their family need to visit for two weeks every two years to renew through this period.
Conclusion:
Citizenship by investment (CBI) or residency by investment (RBI) programs are especially beneficial for countries that are looking to generate overseas investment in the economy. The global citizenship by investment industry was recently valued at $21.4 billion and is expected to reach $100 billion by 2025. It shows that it has effectively influenced the economic development of the world.
To apply for any of the above countries for citizenship or residence permit visit immigrant invest, a renowned consultancy firm.
UAE Golden visa and its benefits
Visit Khaleej Affairs for Property and investments details.
