It is often seen that when wealthy Non-Europeans or US Citizens apply for European or US visas, it is a difficult process. It involves a lengthy application process and the physical surrendering of a personโs only travel document, their passport. This is especially difficult as the process can often take weeks if not months in some cases, leaving the applicant grounded and unable to travel.
Citizenship by Investment
Now imagine, you have a second travel document that could be used whilst youโre waiting for your passport to be returned by the embassy. This is very achievable through the application to one of the many countries that are currently offering citizenship in exchange for an investment in their country. By applying and receiving a second citizenship and then passport, business people and families are able to travel virtually unrestricted to Europe, the UK and other major countries around the world on a visa free or visa on arrival basis.
Residency by Investment
If obtaining a second citizenship is not attractive, then there is an alternative in that people can choose to apply for a European residency. By doing so, it would grant the holder and their family the right to travel to Europe on a residents permit and travel freely within the Schengen zone without the need for additional visas.
In both cases, the respective country would expect the applicant to have a clean criminal record, make a qualifying investment and undergo and pass a due diligence process. All of this is fairly straightforward and achievable.
Both these programs can provide the holder with many benefits, but the most important benefit is freedom, freedom to travel and not to have to apply for travel visas, to live in another country and set up companies, banking, and investment accounts and to provide their family with higher standards of security and living than often is the case in their own country.
It also allows wealthy families to incorporate a second residency or citizenship into their future wealth planning and provide new opportunities for their children and future generations.
At the time of writing, there are a number of countries in Europe and the Caribbean that are offering residency and citizenship to qualified investors. Most of these countries have a good selection of options when it comes to qualifying investments.
The Main programs are:
However, it is important to highlight one program in particular, the Greek Permanent Residency program(Greek Golden Visa). This program will be undergoing some changes in 2024. It is expected that the minimum investment levels will rise, possibly even double in the middle of 2024. So,anyone who is interested should act sooner rather than later.
It is worth noting that we work with a great developer in Athens, whose properties qualify for the Greek permanent residency program and who can act very quickly to help applicants secure visaโs wherever they are in the world.
Greece's Golden Visa program is one of Europe's most cost-effective residency-by-investment schemes. The most popular investment is property, whereby there is a two-tier option of โฌ250,000, for restricted properties, or โฌ500,000 for unrestricted properties.
Applicants and their families can gain a five-year permanent residence permit, without restrictive physical residency, allowing applicants to continue their global commitments while enjoying the benefits of Greek residency and freedom of movement around Europe.
Cyprus offers a fast route to residency for individuals who invest โฌ300,000 plus VAT in new real estate. The programme grants full Cypriot residency within six months, providing applicants with a European base for them and their families.
Although Cyprus currently is not part of the Schengen area, Cypriot residents may find obtaining a European Schengen visa easier. In addition, Cyprus is actively applying for membership of the Schengen pact and thus ensuring freedom of movement throughout Europe.
The country offers a favorable tax system for new residents, who can benefit from the non-dom tax regime, with as little as 2-months physical residence, meaning no worldwide income tax for non-domiciled residents, just what is brought into Cyprus or earned in the country. This might be interesting for non-European applicants that are looking to relocate from a high tax country such as the UK or mainland Europe.
Malta is a very attractive country for establishing a European residency. Individuals and families can easily establish residency with an initial investment of โฌ130,000, with the option of renting or purchasing properties.
Malta's EU membership allows applicants easy travel across the European Union, and its robust economy makes it an attractive choice for investments. This is an ideal country for non-European families.
The Portuguese Golden Visa program provides residency with a minimum investment of โฌ500,000 in non-real estate investment funds or โฌ350,000 in research activities. Portugal boasts a high standard of living, excellent infrastructure, and a comprehensive double tax treaty network, making it an attractive destination for applicants.
Turkey offers citizenship to individuals who invest $250,000 in real estate or deposit $500,000 in a Turkish bank. The country's strategic location, at the crossroads of Europe and Asia, offers unique business opportunities and easy travel access to both continents.
Caribbean Nations: Grenada, Dominica, St Lucia, Antigua and St Kitts & Nevis
The Caribbean nations of Grenada, Dominica, St Lucia, Antigua, and St Kitts & Nevis offer some of the world's most cost-effective citizenship-by-investment programs, with minimum investments ranging from $100,000 to $250,000. These countries provide visa-free travel to over 148 countries, including the EU Schengen area, the UK, and China. Additionally, most do not tax non-residents on their worldwide income, capital gains, gifts, wealth, and inheritance, which can significantly increase an applicantโs wealth planning.
In conclusion, Residency and Citizenship by investment programs offer applicants a multitude of real economic and social benefits that they can immediately bring into their lives, and provide these same amazing benefits to their children and future generations.
If you would like further detailed information about the programs and investment opportunities, or consultation please simply contact or visit NG Global Citizens.