The COVID-19 pandemic has turned our lives upside down in the blink of an eye. Many people are no longer prepared to accept global mobility restrictions and are now actively searching for citizenship options as an insurance policy against future political and global uncertainties. It does not really matter whether the COVID-19 situation has negatively impacted their business and spoiled their personal plans or the passport of their home country does not lend itself to obtaining a second citizenship. The reality is you should always have a Plan B.
Have you ever wondered which is the most sought-after passport? Obtaining citizenship by investment is becoming ever more popular. Citizenship by investment allows you to travel easily to most foreign countries visa-free, get superb medical services, work or study abroad as well as providing economic and social stability in uncertain times. There are many different options to consider be it the Golden Visa or dual citizenship. If you are not convinced about getting dual citizenship, there are many appealing residency by investment options to consider. GLS Private Office knows it perfectly well from their years of experience helping hundreds of clients become truly Global Citizens.
Below we outline the six most popular destinations offering citizenship or residency by investment programs.
Caribbean countries
- Kitts and Nevis,
- Dominica,
- Grenada,
- Antigua and Barbuda,
- Lucia.
Why?
These are affordable programs ensuring fast and simple application processing. Warm, tropical climate, favorable taxation and visa-free access to more than 120 countries worldwide, including the UK, EU, Hong Kong, and Singapore, make citizenship of these Caribbean states very attractive for investors. Moreover, considering a new post-pandemic reality in 2021, the countries have improved the terms of their citizenship by investment programs, therefore now is the right moment to submit an application.
How much?
The minimum investment amount starts from $100,000 (depending on the country of origin as well as the number of applicants included in the application and their ages). During the pandemic, some of these countries have reduced prices, in particular for families. For example, currently St Kitts offers a limited time offer with a fixed donation amount of $150,000 for a family of 4 people until 1 January 2022, down from $195,000.
How long to wait?
An applicant can get a new passport in around 3-4 months after the submission of their documents.
Vanuatu
– a chain of 13 principal islands in the South Pacific.
Why?
The citizenship of Vanuatu provides a visa-free access to more than 130 countries, including the UK and EU, and an attractive personal tax environment. Besides, you do not even have to visit Vanuatu.
How much?
The minimum investment amount is $130,000 for one applicant.
How long to wait?
Vanuatu’s program has got one of the fastest processing times in the world – an investor can get a new passport in 1-2 months after submitting all the necessary documents.
Malta
– a beautiful island in the middle of Mediterranean, an EU member state.
Why?
The Maltese passport allows a visa-free access to almost 190 countries including the USA, Canada, and the UK. It grants the opportunity to live and work in any EU country. Malta offers a very competitive tax system, which does not require paying taxes when living outside the island.
In November 2020, Malta introduced a brand-new citizenship by investment program entitled Maltese Exceptional Investor Naturalization (MEIN), which has already gained an enormous popularity among HNWI.
How much?
The minimum investment is €700,000.
How long to wait?
It takes around from 12-14 months to acquire Maltese citizenship.
Portugal
– an EU country in southwestern Europe.
Why?
The Portuguese passport opens ways to over 180 countries on a visa-free basis. The Golden Visa of Portugal is in especially high demand at the moment due to upcoming changes in the program. From 1 January 2022, prices for certain investment options will skyrocket, and purchasing residential properties in Lisbon, Porto, and coastal areas will become impossible. However, the overall popularity of the Golden Visa program cannot be attributed to the current low prices — it is considered probably the best residence by investment program in the world due to its numerous benefits:
- Portuguese residence permit allows its holder to live, work and study in Portugal and to travel in the Schengen zone
- There is no need to reside in Portugal, only a few short visits are necessary–7 days in the first year and 14 days in the next 2 years.
- It is possible to apply for Portuguese citizenship after 5 years
- Portugal offers non-habitual tax regime for the first 10 years of residency
How much?
Under the current terms, a potential Golden Visa holder can use one of the multiple investment options, i.e. buy a property for at least €280,000, or make an bank deposit investment in the amount of €1 million, or create 30 jobs in Portugal.
How long to wait?
It takes around 6-9 months to get a residence permit. After 5 years of holding Golden Visa an investor may apply for citizenship.
Montenegro
– an independent Balkan country in Europe, which is planning to join the EU in 2025.
Why?
Montenegrin citizenship allows you to travel visa-free to over 120 countries and get an E-2 business visa to relocate to the USA. Apart from this, once Montenegro joins the EU, it will provide its citizens with the opportunity to live in any EU country. There are no worldwide income taxes and in general, taxes in Montenegro are relatively low. Only one visit to the country is required.
How much?
The minimum investment in real estate is €250,000, and the contribution to the Government Fund is €100,000, which is €350,000 overall.
How long to wait?
An applicant can get Montenegrin citizenship in around 4-6 months after submitting all the necessary documents. There is a reason to be in a rush with this program though: it was launched in 2019 and is scheduled to close at the end of 2021.
Turkey
– a country in the Middle East, which is washed by four seas, a member of the G20 and NATO. Last but not least, there is the Turkish citizenship by invetment program to consider.
Why?
It is a fast and affordable way to get visa-free travel to more than 110 countries, easy way to relocate to the USA through E-2 Visa or to the UK with its Business Visa. In addition to this, there is no need to visit Turkey at any point.
How much?
The minimum investment in real estate is $250,000 and in government bonds — it is $500,000.
How long to wait?
Turkish citizenship can be granted in around 3 months after submitting the application.
Why GLS Private Office?
We have 10 years of experience working with the top citizenship and residency by investment programs worldwide. We maintain 100% approval rate due to a very thorough due diligence procedure. Apart from the immigration programs, we provide various ancillary services depending on our clients’ needs. We value the time of our clients and respect their confidentiality.
We would like to take this opportunity to invite you to our joint webinar with Fiduciary Wealth Management, during which we will be discussing the most popular existing citizenship and residency by investment programs and comparing them with the current Gibraltar Residency program. We will be happy to answer all your questions during this webinar. Join us by following this link.
Contact Managing Director of GLS Private Office directly via email: Victoria.vella@glspo.com, mobile: +447754843967 (Whatsapp, Telegram) or visit our website www.glspo.com.
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