The Cheapest Citizenship by Investment: Expectations vs Reality

Dual citizenship by investment gives access to two  passports. One from your country of origin. The other from the country you are seeking citizenship.

Have you ever heard of citizenship by investment? You may know that there are different ways to get citizenship. In the United States, for example, one way to get permanent residence is to be a green card holder. After 5 years, you can qualify for citizenship.

Another way is through naturalization. Foreign nationals who meet eligibility criteria can apply. According to rescue.org, over 30,000 immigrants have gained citizenship this way. All within the past six years.

A third route is to find a spouse and gain citizenship through marriage. Don’t try this though. It could backfire if the authorities catch on to what you are doing. 

And then, there is the option of citizenship-by-investment. We will explore exactly what it is while uncovering expectations versus reality.

Citizenship by Investment: What is it and What are the Benefits

Citizenship by investment requires you to invest in property or donations in the new country. Funds go into improving the economy of the country. 

It has become a popular option for many. This is because it does not have as many challenges as most immigration processes. This means that it takes a shorter time to complete.

A passport by investment allows you to continue to keep citizenship in your country. Do note though, some countries do not allow for dual citizenship. We will delve into the topic a little more later. 

A second passport offers so many opportunities for both you and your family. Your new country can offer safety and stability. It helps in case of political, religious, or economic upheavals in your mother country.

Depending on your country of choice, there could be an opportunity for a better life. You could also enjoy good healthcare and income-generating opportunities. The children can access excellent education systems. Such may be lacking in your mother country.

Citizenship Investment can help with better money management. Take the example of high taxation as a deterrent to economic pursuits. You could pick a more lenient country and invest your money there. It also becomes easier to move resources when you hold dual citizenship.

And, the extra passport gives greater flexibility in movement. You will, for instance, not need a visa to reach select destinations.

Countries That Offer Citizenship Investment Programs

Different countries are embracing the concept. It is a lucrative way to get foreign direct investment. The funds go towards improving the country in areas that need money.

Such include business development, job creation, and real estate development. Their industries also enjoy the benefit of global talent and knowledge.

So, which countries give citizenship by investment? Well, citizenship investment programs are available in nearly 30 countries worldwide. Such include Saint Kitts and Nevis, Saint Lucia, Dominica, and Grenada. Others are Antigua and Barbuda, Turkey, Montenegro, Malta, and Austria. 

Each country has its specific criteria for granting eligibility. You will, for example, need a clean criminal record. Your source of funding must also be legitimate.

They also have minimum non-refundable contributions and specific investment sectors. The cheapest citizen by investment program includes Antigua and Barbuda. The least investment amount is US$100,000.

Saint Kitts and Nevis citizenship investment programs have been around since 1984. The least contribution is $150,000 US towards the Sustainable Growth Fund. It is also one of the fastest citizenship programs. Within three to six months, you can get citizenship.

St. Lucia requires investment in real estate development. The minimum investing value is $300,000.

EU citizenship through investment can be a bit costly. To become Australian, the smallest contribution is 3 million euros. The waiting time is also a bit longer and can run to two to three years.

Exploring the Negative Side of Citizenship by Investment

Cheap citizenship-by-investment seems pretty exciting, doesn’t it? There are so many benefits as we have already shared. But, expectation and reality can sometimes travel in parallel lines. So, what do you need to have clarity on?

Picking the Right Country for Second Citizenship

Deciding on the country, seeking citizenship can be a daunting task. You must give enough time to properly research.

Some countries will need you to get a resident permit first. It can be expensive because you have to travel there and live for some time. Such countries include Turkey, Cyprus, and Malta.

It is a good idea to seek the services of professionals to give advice on the best steps, processes, and strategies.

Lengthy Application Processes for Dual Citizenship

The application process can be quite lengthy. The powers that decide will ask you for legal documentation to support any claims. There can be a lot of running around especially if dealing with bureaucracy.

Prepare yourself for stringent background checks as well. In most cases, you must hire qualified professionals. They will help put the documentation together. Improper handling of the process will result in wasted time, effort and money.

Cost Factor of Citizenship Investment Programs

The second challenge is price variations of the citizen by investment options. Some need you to invest in state projects. Others limit the options to real estate investment or donations.

Even the cheapest investments can be pricey to most people. A $100,000 price tag will be too high for many people. And please, know that is not the only cost you will need to factor in. You could pay up to 40% more in handling and professional costs.

The agency you engage should give you a transparent breakdown.

Renouncing Citizenship

Not every country allows for dual citizenship. These include China, Malaysian, Bahrain, Zimbabwe, and India.

Countries like South Africa and Russia give a little more flexibility. You must seek consent from the state to apply for citizenship in another country.

EU countries that allow dual citizenship include Germany, Ireland, Latvia, Sweden and Poland.

What this means is you must be willing to give up your citizenship in the mother country. For some, the price may be too much to bear, especially due to family obligations.

Do note, the hosting country can decide to revoke your citizenship. A lengthy jail sentence of up to a year is one of the reasons. If you commit fraud or concealment, they could also kick you out.

Now, imagine you had given up your status in the mother country. You will find yourself without a place to spend the rest of your days in.

Final Thoughts

Citizenship by investment can open up so many doors. You enjoy the benefits available to the citizens of that country. These include financial, educational, and social welfare services. You also have a place to call home. That is if you decide to leave your mother country.

But, we have also highlighted a very critical area that shows some challenges. Do seek professional help on the best citizenship to have, before making the leap. The advice you get could save you a lot of money, time, and stress.


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