Citizenship by investment: which countries are ready to make you “one of their own” for money and what the benefits might be

By CrimeaNEWS On Ноя 20, 2023

CrimeaPRESS reports:

Citizenship by Investment Programs (or sometimes referred to as «passport programs») are initiatives of some states that provide the opportunity for individuals from other countries to obtain citizenship or permanent residence in exchange for investment in the economy of a particular host country. These programs are usually implemented by governments to attract foreign investment, stimulate economic development and improve financial conditions.

The mechanisms of the programs may vary, but they usually include certain investment requirements, such as the purchase of real estate, business investments, the purchase of government securities or bank deposits. Accordingly, in exchange for meeting these conditions, program participants are entitled to citizenship or permanent residence.

We note that citizenship by investment programs raise different points of view. On the one hand, they are said to be useful for attracting capital and talent, which clearly contributes to the development of the host country. On the other hand, they are often criticized due to the possibility of abuse, including the possibility of money laundering or tax evasion. In addition, there is a risk that such programs could be used to hide criminal proceeds.

It is important to note that countries offering such programs set their own terms and conditions, and these programs may change over time.

Countries with citizenship by investment programs

In fact, many countries around the world offer citizenship by investment or similar residency programs. They vary in terms, requirements and types of investments. At the same time, among the most popular states that attract “people with money” to their territories in this way are:

Malta: individual investment program (Individual Investor Program, IIP).
Cyprus: investment-for-citizenship program.
Saint Kitts and Nevis: citizenship for investments in Sugar Industry and Real Estate (Sugar Industry Diversification Foundation, SIDF) or Sustainable Growth Fund (SGF).
Antigua and Barbuda: citizenship program for investment in the National Development Fund (NDF) or other options.
Grenada: citizenship program for investment in the National Investment Fund (NTF).
Portugal: “golden visa” or “Citizenship by Investment” program (Golden Visa or Golden Passport).
USA: EB-5 investor immigration program.
Great Britain: investment programs such as Investor Visa and Entrepreneur Visa.

It is important to note that the terms and conditions of these programs may vary depending on the situation within the country or the world at large, so potential participants should carefully review the current requirements of each program. Ideally, of course, seek advice from lawyers or immigration consultants.

For whom do “for money” citizenship programs apply?

Can everyone use such programs to obtain citizenship of the chosen country? And what advantages does such obtaining citizenship provide?

Experts note: not everyone can use citizenship by investment programs, since certain requirements and conditions are usually established for this. Applicants wishing to take advantage of such a program may face various requirements, such as the minimum investment amount, type of investment (for example, real estate purchase, business investment or fund), investment holding period and other conditions.

In turn, the benefits of obtaining citizenship through investment programs may also vary from country to country. But common benefits tend to include:

Having received citizenship, you acquire a full range of civil and political rights in accordance with the laws of the country.
Citizens of the countries stated above have extensive freedom of movement around the world, which means they can visit many countries without the need for a visa.
the opportunity to participate in the country’s economic activities, including investment in business and real estate.
citizens can have access to welfare and social protection provided by the state.
access to educational and health services provided by the country.
possibility of transferring citizenship to children.

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However, it is worth noting that these benefits, of course, come with responsibilities, including paying taxes and complying with the laws of the country.

In which countries is it easiest to become a participant in the “real estate for investment” program?

The process of entering citizenship by investment programs can vary from country to country, and “ease” can be a subjective matter depending on individual circumstances and the requirements of each program. However, some countries have a reputation for being more “friendly” towards foreign investors and easier in terms of conditions for participation in their programs.

In particular these include:

Caribbean Islands: some islands, such as St. Kitts and Nevis, Antigua and Barbuda, and Grenada, have programs that are relatively accessible to investors. However, conditions may vary.
Malta: The small state’s individual investment program provides an opportunity to obtain citizenship if certain conditions are met, including investments in real estate and other assets.
Cyprus: The investment program here provides the opportunity to obtain citizenship upon fulfilling conditions such as investment in real estate and other sectors.
Portugal: The Golden Visa program allows foreign investors to obtain residency or citizenship when investing in real estate or creating jobs.

Citizenship by investment — can you refuse later?

The question, by the way, is quite common: is it possible to subsequently renounce citizenship that was acquired through investments if life plans change? And will the host country return the money invested in its economy?

Experts here note that the answer to the question of the possibility of renouncing citizenship acquired as a result of participation in the citizenship by investment program depends on the policies of a particular country and its legislation. Not all countries provide the option to renounce citizenship, and even if the option exists, the procedure can be quite complex and require meeting certain criteria. For example, an individual may be faced with the need to prove that he does not pose a threat to the security of the country or has not committed serious crimes.

Regarding the issue of return of funds associated with investments under the program, it is also necessary to carefully study the terms and conditions of the program. grams and country legislation. In most cases, funds invested as investments are not returned.

Thus, experts give recommendations before deciding to participate in citizenship by investment programsit is recommended that you carefully read the terms of the program, consult with lawyers and immigration specialists, and carefully weigh all the pros and cons.

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