There are many who seek secondary citizenship in another country, as it offers many benefits. This is especially true for those who have citizenships in countries with weak passports. But in most western countries, obtaining citizenship can be very difficult, as there are numerous requirements that need to be met. And in many cases, the waiting list for obtaining residency in these countries can be very long. But there are a few nations in the EU and Caribbean that offer an easier path – citizenship by investment.
This can be any type of investment, including in businesses or in real estate. Having secondary citizenship or residency in EU countries and Caribbean countries provides you visa-free access to most nations in the world, along with giving you an opportunity to work at or do business in major western nations. In today’s blog, we will take a look at 5 countries where you can get residency or citizenship by investment.
Portugal
The beautiful Iberian nation of Portugal has been offering a golden visa program since 2012. It has grown into one of the most popular citizenship by investment programs inside the European Union. To qualify for this program, one must not be a citizen of the European Union (EU), European Economic Area (EEA), or Switzerland. To be eligible for the golden visa program, you must make a qualifying investment inside the territory of Portugal, which can include investments in businesses or in real estate.
Possible qualifying investments for the golden visa program include an investment of €500,000 in property inside Portugal (€400,000 in low-density population area), investment of €350,000 in property that is at least 30 years old (€280,000 in low-density population area), transferring €1,000,000 in capital to Portugal, creating at least 10 full-time jobs in a Portuguese company, €350,000 investment in a Portuguese venture capital fund, €350,000 investment in scientific research, and €250,000 donation to arts and culture.
The Portuguese citizenship by investment program has numerous benefits. It is one of the quickest in terms of processing time, will allow you to travel visa-free inside the Schengen zone, will allow you to live and work in Portugal, and most importantly, is a path towards EU citizenship. The process of getting a golden visa takes around six months, after which you can work towards obtaining citizenship.
Malta
The tiny Mediterranean island nation of Malta is another place inside the European Union that offers citizenship by investment. Malta’s citizenship by investment program is aimed mostly at individuals with very high net worth. It requires a minimum contribution of €750,000 to the national development fund and investment of €150,000 in any financial instrument that is approved by the Maltese government. A real estate investment must also be made inside of Malta.
This can be done via renting or buying property in Malta, and the property must have a minimum value of €350,000. After one year of residing in Malta, you can apply for Maltese citizenship and an EU passport. The benefits of Maltese citizenship include visa-free travel inside the Schengen zone, and the ability to live and work anywhere in the EU. Malta also has a residency program that is a lot more affordable, but it doesn’t result in Maltese citizenship.
Turkey
The country with one of the easiest citizenship by investment programs in the world is Turkey. A large country with a population of over 80 million people, the country has a growing economy and is considered to be an upper middle income country. Although Turkey isn’t part of the European Union, it has numerous trade and travel agreements with the EU and other countries. Citizens of Turkey can also apply for E-2 visas in the US.
Turkey’s citizenship by investment program was started in 2016 and has certain criteria that applicants must meet. This could be via a $250,000 real estate investment in Turkey, or by investing $500,000 in a bank or a business. This makes it one of the most affordable citizenship by investment programs in the world. The processing time for citizenship is also very low, taking only 3 – 6 months.
St Kitts & Nevis
St Kitts & Nevis is an island in the Caribbean that offers citizenship by investment. The benefits of getting citizenship in St Kitts & Nevis is similar to that of most other Caribbean countries, including visa-free access to over 120 nations across the world. But what sets apart St Kitts & Nevis is the fact that it is one of the first countries in the world to offer citizenship by investment. Its golden visa program started in 1984 and is one of the most popular in the world.
Citizenship of St Kitts & Nevis is one of the easiest citizenships to obtain, as only an investment of $150,000 in the Sustainable Growth Fund (SGF) of St Kitts & Nevis is required. You can also invest $400,000 in Real Estate to obtain citizenship. The processing period for obtaining citizenship ranges from 3 – 6 months. Another thing that sets apart the citizenship programs in the Caribbean is that the official languages in most of these countries are English, which negates the need for you and your family to learn another language.
Vanuatu
Vanuatu is a tiny island in the Pacific Ocean that is most popular for fishing, offshore financial services, and its citizenship program. Costing only $130,000, the Vanuatu passport is one of the easiest to obtain passports in the world, with citizenship processing taking only 1-2 months. Its low taxes has made it a haven for Chinese billionaires. But citizenship from Vanuatu also has many other benefits, including visa free travel to the European Union. This is one of the only citizenship by investment programs in the world which saw an increase during the global pandemic.
In this article, we looked at 5 countries that offer citizenship by investment programs, and the benefits that come with residency and citizenship in each country. If you’re looking for similar articles, stay up to date with the Bproperty blog. Let us know if you have any questions regarding today’s article in the comments section.
