There are many reasons to apply for second citizenship and migrate to another country. One way to do that is via a CBI – Citizenship by Investment Program. Investment migration has gained traction in the last decade and it’s a concept already known to investors.
People apply for dual citizenship to enjoy the benefits like tax optimization, global mobility, increased safety, better education, healthcare systems, etc. And with so many programs available, you must be informed about the advantages and disadvantages of the market.
Many countries offer such programs in exchange for monetary contributions to their National Funds or a one-time investment in real estate. Let’s take a look at the countries with the best Citizenship by Investment Programs.
St. Kitts and Nevis
St. Kitts and Nevis is a country that has one of the oldest and cheapest Citizenship by Investment programs in the Caribbean region. The program has existed since 1984 when the country’s government created the first CBI program, now known for its Platinum Standard. It accommodates the requirements of hundreds of investors across the globe each year.
The requirements an applicant should meet before applying for the program are:
- Purchase of real estate, $200,000 in value and keeping it for at least 7 years;
- Purchase of real estate, $400,000 in value and owning it for at least 5 years;
- One-time donation to the SGF – Sustainable Growth Fund, an amount of $150,000;
The benefits of St. Kitts and Nevis citizenship include traveling visa-free to 157 countries, including Russia, Hong Kong, Singapore, and the Schengen countries, a fast processing time of up to 6 months, and no need to stay in the country at the time of application.
However, to facilitate the application process, you need to choose a trusted provider. The NTL Trust entity provides professional services to investors who want to obtain dual citizenship in this country. You can learn more on their site https://www.ntltrust.com/.
The Citizenship by Investment program in Grenada is becoming extremely popular. It provides investors the option to secure citizenship and become global citizens. With Grenadian citizenship, you will enjoy the beautiful landscapes and stunning beaches, and travel without a visa to more than 140 countries.
The CBI program features a pretty straightforward process where you can make a payment to the National Transformation Fund or purchase real estate. The government has established the program to help the country’s economy and attract high-net investors.
Grenada is the only country in the Caribbean region where citizens can apply and obtain an E-2 visa to live and work in the US. Some of the key benefits of the Grenadian citizenship are:
- Family member coverage – investors can include their families like children, spouse, grandparents, or siblings;
- Investors can have dual citizenship and won’t have to give up their first passport;
- Fast processing time;
- Tax advantages on capital gains, income, or inheritance; and
- No management experience and education requirements.
The eligibility requirements to apply for Grenada citizenship are:
- Great health;
- Over 18 years old;
- Clean criminal record;
- Pass a background check; and
- Proof of legal income.
Particular documents need to be delivered so the applicant can enjoy the full benefits of citizenship.
Spain is another country that offers citizenship through the investment program. It provides European residency and needs to be renewed every 2 years. After 10 years, you can get citizenship.
The minimum amount to be invested in the citizenship is 500,000 euros and additional taxes. Spanish citizenship allows you to travel visa-free to more than 100 countries.
Dominica is another Caribbean country that has a CBI program available. The applicant can participate in the program via a donation to the government’s fund or through real estate investment. Dominica has one of the most flexible and affordable programs worldwide, which has existed since 1993.
The CBI requirements include that dependent applicants like parents over the age of 55 and children up to the age of 30 can be included in the application process of the main applicant. There is no requirement for a minimum stay in the country and the processing time usually takes up to 90 days.
The UK has a citizenship by investment program known as a “golden visa” program. It offers investor requirements in the Tier I level. The price to acquire this citizenship is at least 2 million pounds and a maximum stay of 3 years and 4 months.
After the expiration period, the applicant can apply for a visa extension of 2 years. 5 years later, the investor can apply for residency.
These are some of the countries that offer CBI programs, however, there are many more, especially from the Caribbean region. To learn more about those countries or any information related to citizenship by investment, visit our blog.
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