There are fundamental differences between acquiring residency and citizenship. Acquiring a second citizenship from a new country will provide new citizens with certain fundamental rights that are not extended to permanent residents, such as the ability to freely open new businesses or purchase national assets, free from any restrictive regulations. Many citizenship programs do not require new citizens to spend any physical time living in their new country, either during the application process or after. This is especially beneficial to families who are implementing citizenship and residency strategies as part of a larger long-term wealth management program. Additionally, most citizenship programs will allow for dual citizenship and the only real qualifications for applicants are that they have no criminal record, are deemed attractive to the country, can provide all the necessary due diligence documentation and that they can afford the program.
Often during a country and history, there have been times when its population has lacked skills in certain areas of the economy. It is at these times that they have looked outwards to other countries to attract people and families that can fill these skill shortages. This is a commonly practiced route to residence and potentially naturalization in places like Australia. However, there are an increasing number of countries throughout the world, that have looked at this model and identified that instead of requiring skilled workers, it is in the best interests of the country to attract wealthy families to become new citizens and contribute a significant investment in the infrastructure of the country. As a result, the financial wellbeing of both the country and its original citizens is improved
Often by taking up a second citizenship, a person and their family can significantly increase the number of countries in which they can travel to without the need to pre- apply for a visa. In some circumstances this can be more than double that of the original country. Obtaining a second citizenship is often seen as a practical solution to some of these risks, as families can travel under the safety of a neutral third country’s passport.
From a family perspective, alternative residencies can open up opportunities for the extended family. Often when a family takes up residence in a new country, it can be used as a focal point to make new traditions for family holidays and so on. Also new established families may be able to provide opportunities to family members by sponsoring them or simply providing a safe home to stay.
Outside of travel and family protection benefits, there are several other reasons why a person and their family should consider investing in a second citizenship. In most countries around the world there are significant barriers to entry when it comes to the participation in business and real estate. Access to education and health services are also a big opportunity should a second citizenship be obtained.
NG Global Citizens has selected the top six Citizenship by Investment countries that consistently provide the best overall benefits for our clients. We will be delighted to explore the main benefits from each of the country and programs, as well as providing our clients with detailed knowledge of all the possible investment options that would ensure their qualification for Citizenship.
A Residency by Investment program is a process that requires a foreign national to make an investment in another country to gain residence. That foreign investor is then entitled to take up residence in that country and after a certain number of years apply for permanent residency. Permanent residence may in turn, under certain conditions, entitle the foreign citizen to apply for citizenship by naturalization. It is often the case that Residency by Investment programs are used alongside Citizenship by Investment programs. This is popular with clients from countries with weaker home passports. A family can take up a new residence in a country that does not offer Citizenship by Investment, but still enjoy greater personal travel freedoms by obtaining a strong second citizenship and passport.
Outside of travel and family protection benefits, there are several other reasons why a person and their family should consider investing in a second citizenship. In most countries around the world there are significant barriers to entry when it comes to the participation in business and real estate. Access to education and health services are also a big opportunity should a second citizenship be obtained.
Often by taking up a second citizenship, a person and their family can significantly increase the number of countries in which they can travel to without the need to pre- apply for a visa. In some circumstances this can be more than double that of the original country. Obtaining a second citizenship is often seen as a practical solution to some of these risks, as families can travel under the safety of a neutral third country’s passport.
From a family perspective, alternative residencies can open up opportunities for the extended family. Often when a family takes up residence in a new country, it can be used as a focal point to make new traditions for family holidays and so on. Also new established families may be able to provide opportunities to family members by sponsoring them or simply providing a safe home to stay.
NG Global Citizens has selected the top six Residency by Investment countries that consistently provide the best overall benefits for our clients. We will be delighted to explore the main benefits from each of the country and programs, as well as providing our clients with detailed knowledge of all the possible investment options that would ensure their qualification for Residency.
