“Economic citizenship” is an investment that leads to citizenship and another passport. The idea of “citizenship by investment” isn’t new, but it’s gaining traction in the United States.
In tough times, more people are lured to alternative citizenship. They are getting interested in ways to get the cheapest second passport.
In many countries, investors are awarded second citizenship. They receive it for contributing to culture, economics, and society.
Our experience with COVID-19 taught us that having a backup plan is essential. The first thing a person must do is invest in their family’s future. And cheapest citizenship by investment is an excellent life insurance policy.
Who needs multiple citizenships? Investors who want to invest overseas, safeguard their money, and provide their children a good school and employment need it. That’s why many investors these days are considering EU citizenship by investment.
Table of Contents
Dual citizenship means having two passports or citizenship certificates. It means individuals will need one passport from one country and the other from another.
Dual citizens enjoy the rights of both countries. Many nations restrict dual citizenship. However, most allow their residents to seek and be given citizenship in another.
Spain authorizes its residents to obtain a second Latin American citizenship. But they will receive it only if they meet specific criteria, such as having lived in Spain for at least two years.
Dual citizenship is not permitted in some countries like China, India, or Saudi Arabia. These nations remove citizenship if an individual gets a second passport abroad.
As with dual citizenship, multiple citizenships have two or more nations. Multiple citizenships are required to travel visa-free and become global citizens. It is the unique approach to getting global mobility freedom.
To become a country citizen, you must spend a particular amount of money on the local economy. Creating jobs, buying property, or starting a business are examples. You don’t have to pass any language examinations to arrive from a place of your comfort.
Not all nations indeed are the same. It is possible to get access to new markets for your company and tax havens with different passports. These advantages range from visa-free travel to over 150 countries.
Having a backup plan in case things aren’t going well in your home nation is a good idea, so make sure you have one handy.
Everyone should have a backup plan, and for that, they can consider dual citizenship by investment. You are essentially a prisoner of your own country if you have just one nationality.
Fortunately, getting St Kitts and Nevis citizenship and a second passport by investing there has become easier. Stability and Growth Fund or real estate should be your first pick.
What Is the Minimum Investment Amount?
The processing time starts 45 days after you invest.
- The Schengen Area, Brazil, and Singapore are among the 156 nations that do not need a visa.
- In the United States and Canada, long-term visas are available.
- It is possible to apply for a second passport online.
- The broadest range of investment properties is available when you choose the best citizenship.
- Until the end of the year, a family of four may gain citizenship for the price of a single passport.
- This second citizenship program requires no pre-or post-visit.
How to Invest?
To become a Dominican Citizen, you may donate to the Economic Diversification Fund. Or you can buy property. After that, you will become eligible for the second citizenship program.
The processing time starts 45 days after one invests.
- Citizenship by Investment visas is provided upon arrival for 143 nations. It includes countries in the Schengen region as well as Hong Kong and the United Kingdom.
- You may apply for long-term visas to the United States and Canada if you meet the requirements of a second passport by investment.
- The whole process can be done remotely.
- There is no worldwide tax on income, dividends, or wealth and no global estate tax.
- You can get the status as a full-time resident.
- Tax treaties with both the United States and the Caribbean Community.
- Citizenship is a privilege that lasts a lifetime.
- Access to several Caribbean marketplaces without paying duty.
- Constantly, the East Caribbean Dollar is linked to the US Dollar.
To participate in the CBI program in Antigua and Barbuda, you must provide $200,000. Other alternatives include the UWI Fund and real estate.
The processing time starts 21 days after one does the investment procedure.
- Visa-free nations include Schengen, Russia, the UK, Singapore, Hong Kong, and India. Thanks to Antigua and Barbuda citizenship, it is possible.
- You are not required to pass any exams or interviews to prove your language skills.
- Income, dividends, wealth, and inheritance taxes worldwide are all abolished.
- Ten years of visa-free travel in the United States for a B1 or B2 tourist visa holder.
- Dual nationality is permissible, and it could be the fastest citizenship by investment.
- Citizenship by investment could be passed down through the generations.
- Ideal for a four-person household.
- You will get a chance to create accounts with European financial institutions.
- You can receive childcare subsidies for students at British colleges and universities.
- You can operate the process remotely.
How to Investment?
There are various ways to gain second citizenship in the nation. These are:
- National Economic Fund contributions are tax-deductible.
- In real estate, you may make money so you can invest there.
- The purchase of government securities can be another investment option.
- Investing in business ventures.
- Preferential bonds are investing.
The processing time starts 45 days after the investment is made.
- You may enter 146 countries, including 42 in the EU and Schengen, the UK, Israel, Ireland, Singapore, Indonesia, and Sri Lanka.
- You may apply for long-term visas to the United States and Canada if you meet the requirements.
- There is no worldwide tax on income, dividends, or wealth and no global estate tax.
- Childcare subsidies are available to students at British institutions.
- It is an entirely remote operation.
- To participate, you do not need to be a permanent resident of the United States.
- Spouses, parents, and children up to 18 who are under the age of majority (56 years old) may all be included.
National Transformation Fund or real estate investments provide the cheapest citizenship by investment.
The processing time starts two months after the investment.
- Entry to 144 countries, including China, without a visa or visa on arrival.
- Students at British colleges and universities are eligible for child care subsidies.
- There is no worldwide tax on income or dividends.
- It’s the only Caribbean citizenship-by-investment scheme. It will grant visa-free entry to China for its investors.
- Unmarried siblings aged 18 and older and children under the age of 30 may be included in your family.
- You will need an E-2 visitor’s visa to enter the United States.
- You may apply for citizenship on behalf of your whole household.
- Fortunately, two nationalities can be gained.
If your ancestors are from Ireland, Poland, or Italy, you may qualify for citizenship. It could be a relatively straightforward path to take.
Sadly, most people don’t belong to this exclusive club. Because of this, one must have the money, time, and flexibility to get a second passport.
Most people choose to buy citizenship from one of the countries in the Caribbean. St. Kitts & Nevis, Grenada, Dominica, and St. Lucia are the only alternatives. Compared to other options, they are the easiest and most economical.
St. Lucia and Dominica are the cheapest investment citizenship locations for a single tourist. For families, the most affordable CBI option is Antigua & Barbuda. Cheapest in Europe: Montenegro. Compare all applications using our pricing comparison tool.
In terms of speed and ease of application, Vanuatu is the best. Within 1.5 months, the entire procedure may be finished. There is a minimum price of $130,000 established by the Vanuatu government.
CBI programs in Vanuatu, St. Kitts, and Grenada provide the best value and passport benefits, respectively. These applications are both excellent and a lot of fun to use.
If you don’t want to have a second passport, a GV residency program is the best option for you. Consult an attorney if you have questions about your dual citizenship.
Dual citizenship via investing might be advantageous for your family’s long-term future. Before considering any of the nations mentioned above, you need to know certain essentials. This article will assist investors who seek a second passport from a respected country.