A citizen is a person who has a relationship with a nation-state in which the state bestows upon the citizen certain privileges, such as the ability to vote, hold office, and own property, in exchange for the citizen respecting the laws and traditions of the state. Different people are brought together by citizenship by a shared identity. The three traditional routes to citizenship—and the related passports—have been by naturalisation, marriage, and birth. Through the process of naturalisation, a resident of a nation might become a citizen after having lived there for a predetermined period of time. Since 1984, another method of obtaining citizenship has been through investment in the host nation.
The method of getting a second passport and citizenship by financial investment in the host nation’s economy is known as citizenship by investment. Unlike regular immigration procedures, citizenship by investment programmes bestow citizenship status legally faster and without forcing investors to put their lives on hold. A second citizenship obtained through investing offers a route to a second passport and more alternatives for travel without a visa, which is ideal for people seeking more flexibility. Several people who want a second passport do so in order to take advantage of new business prospects, greater mobility, and financial independence. Getting a second passport through investment can have several benefits. Because of this, obtaining second citizenship through investing is a popular choice.
Requirements of Citizenship by Investment Programmes
All citizenship by investment programmes have various prerequisites that must be met, including investing in one of the alternatives or projects that have been approved, undergoing due diligence checks, and having a spotless criminal record and good physical condition. Some nations have varying rules regarding citizenship, visitation, and the amount of time an investment must be kept up before it may be recouped. The eligibility and age restrictions differ from programme to programme, however, under any CBI programme, the main applicant’s family members may apply for citizenship. The government of the country that awards citizenship by investment will only be allowed to process and approve the citizenship application once the primary applicant and their family members have satisfied all of the conditions under the citizenship by investment programme.
Countries that Offer Fastest Citizenship by Investment
One of the factors to think about before deciding for citizenship by investment is how quickly one can get a passport. Let’s examine the nations with the quickest citizenship.
St. Kitts And Nevis
You must invest more than $200,000 or $400,000 in a real estate project that has received government approval in order to qualify for St. Kitts and Nevis citizenship programme. You must hold the investment for seven years if you choose the $200,000 option. The $400,000 approach lasts for five years throughout this time. Another choice is to give a minimum $150,000 donation to the St. Kitts and Nevis Sustainable Growth Fund. This is not refundable.
Citizenship in St. Lucia can be obtained for USD 100,000 (donation) or USD 200,000 (real estate investment). The processing of citizenship takes two to three months. Additionally, you have the option of parking USD 300,000 in Government of St. Lucia (GOSL) bonds with a 50% discount that are repaid after a 6-year lock period (zero coupon bonds pay no interest). St. Lucia reduced the required investment amount from $100,000 to $200,000 in 2017, making it one of the most competitive and alluring CIPs in the Caribbean. The St. Lucia citizenship by investment can be obtained without having to live there or travel there.
The Grenada citizenship by investment programme offers a number of advantages. The plan is even more effective because there are no residency restrictions, even though the overall processing time is only about two months. The freedom to travel Russia, China, the Schengen region, and the UK without a visa is granted to investors who obtain passports. Additionally, the applicant’s passport has a 10-year validity period.
Among the Caribbean islands, the Dominica citizenship by investment programme is frequently regarded as the most well-liked. The country has a special programme that qualifies applicants for citizenship by requiring either a donation of about $100,000 USD or 200,000 USD in real estate. In addition to this, the fact that there are no residency requirements to become a citizen of the nation is what attracts investors to the concept. The passport that is issued under the same conditions has a 10-year validity period, but the confirmation of the permission takes around 2 months.
One of the nations that readily grants citizenship is Turkey. Purchasing property in Turkey is a popular choice if you’re interested in obtaining Turkish citizenship through investment. $400 000 is the required minimum amount. You can anticipate receiving your citizenship in a period of no more than six months because of how quickly the process works.
As the only CIP in the South Pacific giving a Commonwealth passport, Vanuatu boasts the shortest citizenship by investment process in the entire globe. Vanuatu is well known for its quick processing times and easy application process. In contrast to the Caribbean countries, which take 2-3 months, approvals are given in 20–30 days.
The following citizenship schemes are administered by Vanuatu in exchange for investments.
- $130,000 for the Development Support Programme (DSP) (all nations)
- Honorary citizenship contribution programme(VCP), $130,000 (reserved for China/HK)
- $200 000 Real Estate Option.
For one person (a one-time donation for the DSP/VCP system), Vanuatu demands USD 130,000 in order to obtain citizenship and a passport. For families, the contributions increase. The Vanuatu Citizenship Commission officially publishes the minimum price ranges set by the government, which are all-inclusive. There are no additional fees.
As of January 1, 2018, Montenegro launched a brand-new special citizenship by investment programme. Foreigners are required to spend EUR 250,000 in property (north of Montenegro) as well as EUR 100,000 in application fees. Therefore, Montenegro will need a total of EUR 350,000 plus other expenses, and investors will receive citizenship and permanent residence within a month of their investment. Each citizenship application requires a payment of $100,000.