Citizenship is the connection between an individual and a country whereby the country allows the citizen certain rights, such as the right to work, right to vote, and the right to own property, and in exchange, the citizen accepts the responsibility of sustaining the laws and practices of that state. Citizenship blends different people under a collective identity.
The conventional means of obtaining citizenship and passports are by birth, marriage, and naturalization. A resident of a country can obtain citizenship usually by residing in that country for a specified period of time is called adoption.
What Is Citizenship By Investment Programme?
Citizenship by investment programme is the method of acquiring second citizenship and passport by investing financially in the economy of the host country. Citizenship by investment programmes lawfully award citizenship status quicker than conventional immigration processes and do so without needing investors to put their lives on hold.
Why Do People Opt For A Second Citizenship?
There are many causes to invest in a second citizenship, from personal security to increased global versatility. Applications can be accepted in a minimum period of three months, achieving citizenship for life, a legitimate passport, visa-free tour, etc. The EU economic citizenship opens up a world of opportunities to wealthy investors.
Here are some of the most popular reasons why people opt for a second citizenship:
A second passport from a stable developed country can be life-saving in the case of any development of political, economic or social crisis in the host country. Disaster can come at any point, and if the individual has dual citizenship, he/she can leave the country immediately and take refuge in the other one.
- Global Mobility
Many passports are quite limiting in their visa-free movement, urging citizens to obtain visas whenever they need to travel overseas. A dual passport can offer individuals from these countries increased global mobility. Becoming a dual citizen discards the need for long-stay visas and inquiring about the purpose of the individual’s trip. It also ensures the right of entry to both countries, which can be particularly needed if one has parents, children or relatives to visit, is a student or involved in trade in either country.
- Property Purchase
Another advantage of dual citizenship is the capability to own investments like property in either country. Certain nations regulate land title to citizens only. As a lawful citizen of two states, one would be able to acquire property in either or both countries. If the person frequently moves between the two countries, this might be particularly beneficial since estate ownership might offer a more cost-effective way to live in two places.
New business possibilities open up to dual citizens as they can now do trade in their own country as well as travel abroad more smoothly.
- Tax Optimization
Dual citizenship may prove beneficial for tax optimization purposes. For example, some countries only tax income earned from that country and do not subject fund gains to taxes either. It allows investors to maintain their wealth more efficiently and productively.
- Quality of Life
Second citizenships can offer a way to world-class health care, education and an enhanced lifestyle. As a twin citizen people can reap the advantages of being involved in the culture of two countries. Some state officials are also attached to dual citizenship and see it as a way to boost the country’s image as a top destination for tourists. Perhaps the best upside is the joy of learning about the history of both countries, a new language and a distinct way of life.
Most citizenship by investment programs are available to the family members of the principal applicant. It means that investors can secure a stable future for their dependents. Second citizenships offer a gateway to world-class health care, education and an improved lifestyle.
EU Residency Vs. Citizenship By Investment
A second residency or tax residency usually works to reduce tax obligations as having a second passport is useful for anyone doing business or investing, particularly in cryptocurrency. The EU economic citizenship is for people with an urgent need to have another passport now, be it for tax reasons, trade, or travel.
Residency by investment is not alike as citizenship by investment. Golden Visa programmes like those in Greece or Portugal will ultimately yield a second passport, but it will take a minimum period of six years in most cases.
Other countries offer fast track naturalization, which may or may not be commoditized. While countries like Panama offer a Friendly Nations Visa that streamlines residency requirements, they generally require years for naturalization, and have no hundred percent guarantees of paying off in the end.
These other residency programmes are great for tax residency or a secondary plan, but they are merely creating yet another path to residency, with citizenship being the eventual benefit of residency.
What Do Countries Get From Citizenship By Investment Programmes?
Countries usually offer citizenship by investment programmes to lure the much-needed external direct investment. States can then use these amounts to invest in their plans, such as real estate growth, business extension and job creation. Citizenship by investment programmes also pull global expertise to boost the economy. For instance, St. Kitts & Nevis candidates can fund in the Sugar Industry Diversification Foundation, which intends to support the government and the country in converting to a more diversified economy. The foundation not only helps the government but also engages in new projects itself.
What Makes The Best Citizenship?
Many people feel that the number of countries a passport enables one to visit defines the quality of that passport. However, the personal and financial freedom a second citizenship allows is also equally important when considering a citizenship programme. The best citizenship by investment EU programme can be considered as one that will enable an individual to preserve the capital while accomplishing the goals intelligently.
Which Countries Offers Citizenship By Investment in Europe?
There are many citizenship by investment EU programmes. The number of these citizenship by investment in Europe programmes is steadily increasing as more and more nations recognize the economic benefits of these programmes.
- United Kingdom
As one of the topmost economies and among the most potent finance and commerce centres in the world, United Kingdom’s Tier 1 immigration programme has been deliberately created to draw investors, entrepreneurs, and other expertise individuals that will drive trade and prosperity in the U.K.
Residing in the U.K. gives a perfect combination of bustling modern cities, charming little towns, gorgeous countryside, beautiful natural landscapes, and many famous historical landmarks. The home of modern-day symbols like the Beatles and Wimbledon, the U.K. has an equally important history in its cathedrals, castles, Roman baths, Stonehenge, and old medieval towns.
Residency or citizenship status in the U.K. provides investors with a way to a world of elite benefits:
- A diverse and multicultural society enhanced by large cultural and ethnic communities.
- World class education, an extensive network of state and private schools, an infinite number of universities and higher education institutions.
- The U.K is considered to have one of the best free health care services in the world.
- U.K. is a proud member of the G8.
- A vital member of the EU, which means more great business happenings.
- Matchless financial business centre – London.
- Attractive tax administration for wealthy investors classed as U.K. resident
- The travel ease and assurance of a U.K. passport.
The Cyprus Citizenship By Investment Programme is one of the most popular in the world. A place with a rich heritage and natural beauty, it is an ideal country to live and prosper in a vibrant international centre that is great for business creation and expansion. It is a charming island with a rich history dating back more than 10,000 years. Evidence of its history can be found all around in the castles, mosaics, monuments and stupas, remnants of erstwhile powerful civilizations. In the modern day, it’s a successful and growing European state with plenty of opportunities for economic enterprises and a world-class living.
Cyprus soaks in sunshine throughout the year, which is the perfect addition to its famous golden beaches, beautiful old harbours, and a myriad of cultural contributions. Cyprus provides everything an individual need to expand and prosper in trade. It has undoubtedly the most favourable tax system in the European region, a free-market service-based economy, strong constitutional system, prominent financial centre, and many business and financing opportunities.
The luxury living, expensive golf clubs, fantastic tourist destinations, and rich cultural history makes Cyprus a great place. The extraordinary air transportation to the rest of the world, pathway to Europe’s best colleges, high living standards, and world-class health services make Cyprus highly recommendable for all the citizens.
Residency or citizenship status in Cyprus provides investors with a way to a world of elite benefits:
- The procedure is speedy. The approval of the citizenship application takes approximately six months only.
- Concurrent submission of residency and citizenship applications is allowed.
- There are no language requirements.
- The candidate’s parents are eligible for citizenship if they own a house priced at €500,000 plus VAT or own a part of €500,000 in a property of the principal applicant.
- Civil unions are qualified to submit applications.
- There is no obligation to renounce current nationality.
- The tax rates are low.
- Right to live, study and work in Europe without any restrictions.
- Requires an applicant to own a property in a European member state.
- Important geographical location forming a bridge between Europe, the Middle East and North Africa with immediate access to the Mediterranean Sea.
- Cyprus ranks as one of the safest countries in the world. The population is around 5 million.
- Exceptional education system as well as world-class health care.
- An idyllic holiday destination.
The Bulgarian Citizenship By Investment Programme was created to promote foreign investments by giving special considerations to investors from non-EEA countries. In return for their financial efforts, investors are offered the chance to secure a permanent residence permit, and can also appeal for Bulgarian citizenship by investment and passport using the Fast-Track Citizenship.
Bulgaria offers a rich history and the perfect blend of nature, antiquity and metropolitan cities. The Balkan Mountains, Black Sea beaches, rolling hills, magnificent waterfalls and mysterious caves, makes Bulgaria an ideal nation for all sorts of outdoor activities. From big cities to rural villages, Bulgarian immigration has many advantages. Bulgaria’s remarkable landscape, charming villages and beautiful people make it a wonderful place to visit and live.
Residency or citizenship status in Bulgaria provides investors with a way to a world of elite benefits:
- The candidate gets residency within six to nine months.
- A fast-track option for citizenship within two years.
- There is a special exception from the physical residence required with legislation.
- The investments are government-approved, and banks provide financial choices.
- There are no language requirements.
- There is no obligation to renounce the current nationality.
- Lowest tax rates and free-trade environment within the EU.
Montenegro is at the centre of innovation, beauty, and possibilities. Long considered the pearl of the Balkans, this country serves the ideal balance between a natural and modern world. As one of the swiftest economies in the Balkans, Montenegro is suddenly becoming a key destination for investors seeking fluidity, safety, and a better quality of life. Montenegro’s natural beauty and sophistication aren’t the only reason why the nation has vast opportunity for growth and development. Its recent independence and strategic position have also influenced Montenegro to become central to some of the most critical industries in the world.
Residency or citizenship status in Montenegro provides investors with a way to a world of elite benefits:
- The candidate gets residency within six to nine months.
- There are no language requirements
- There is no obligation to renounce their current nationality.
- The flexibility of global mobility paving the pathway to 116 visa-free countries.
- Montenegro holds an important geographical location in Europe with direct access to the Adriatic Sea.
- An exceptional holiday destination.
One of the oldest countries of Europe, Portugal possesses a rich historical and developmental heritage. Radiance and art beam through the villages and beautiful vineyards of this country, positioned on the blissfully elegant beaches of the Atlantic Ocean. Portugal is a safe and developed nation, ideal for families, business or travelling.
Residency or citizenship status in Portugal provides investors with a way to a world of elite benefits:
- The candidate gets a Residence visa waiver for Portugal.
- The candidate can live and work in Portugal.
- The candidate can travel to the other European countries visa-free.
- The candidate gets a permanent residency or citizenship of Portugal after residing temporarily for five years
- The application includes spouse, children and parents.
Even though it is a small country, its world-class capital, Vienna has a rich cultural and historical legacy. Austria also possesses beautiful countryside with Alpine peaks and magnificent scenery. It is an excellent place to live within the European Union and more importantly, it is the only country besides Slovakia with an approved practice of giving citizenship and a passport to wealthy investors without prior residency requirements based on an essential contribution to the country.
Residency or citizenship status in Austria provides investors with a way to a world of elite benefits:
- Opportunity to build a residence as a person of independent means.
- The candidate can travel to the other European countries visa-free.
- There is no necessity to spend any time residing in Austria.
- Citizenship may be possible after ten years of residence.
- Austria boasts its attractive lifestyle and a healthy environment.
- It provides exceptional transport and communications.
Malta, a small but utterly fascinating Mediterranean island, offers people a chance to travel the world and live under financially fair laws. It lives by a favourable economic system that one is free to join at a hefty price and a year of residence. The country comprises of three islands: Gozo, Comino and Malta, with its capital, Valletta, located around 50km from Sicily, and just 3-hour long flights to the United Kingdom and other major international airports in Europe and North Africa.
Residency or citizenship status in Malta provides investors with a way to a world of elite benefits:
- Malta is one of the most reliable and most well-built economies of the European Union. The European Commission expects Malta to be one of the fastest growing economies in Europe.
- Lay-off levels at jobs are among the three lowest in Europe and have broken the record for three years in a row.
- Malta has cut its taxes for its nationals for five years in a row.
- Malta has recorded a financial surplus for two years in a row. The debt to GDP percentage has fallen from 70 to around 50 in five years.
- Malta is considered as one of the top relocation destinations in the world, because of its unlimited employment, business and lifestyle opportunities.
- Malta gives unlimited free healthcare and is listed by the World Health Organization as one of the best in the world with extensive free childcare, one of the few countries in the world to provide it, and universal free education for all its residents.
- The Maltese economy, backed by the fundamental law, has expanded well in the high-end manufacturing and services industry, establishing itself as a sound financial administration, a popular tourist destination and a hub for the Information Communications Technology industry, gaming and blockchain industries.
Other countries providing citizenship by investment in Europe are Monaco and Ireland.
Europe continues to maintain its allure worldwide, led by natural beauty, historical background and economic development. Citizenship by investment programmes provide people from across the world an opportunity to be a part of the modern history of Europe and join in its vast potential. However, a second citizenship, especially one in Europe requires a significant investment, which is why it is important to make the decision and follow the process carefully.
Citizenships.com, with its qualified experts can help you through the process, and aid you in achieving your dreams. Register now!