Several thousand people spend more than two billion dollars a year to get a second citizenship through investment. Currently, many countries issue a civilian passport in exchange for investment in the economy in an individually determined amount. We analyzed the legislation and made a selection of five countries, the most attractive in terms of obtaining citizenship through investment.
1. Saint Kitts and Nevis
The Federation of Saint Kitts and Nevis, also known as the Federation of Saint Christopher and Nevis, is a small island nation in the Caribbean. It is one of the most popular countries offering citizenship through investment. The first way to obtain a passport of this country is direct investment of $ 290,000 in the diversification fund of the sugar industry. The second is to invest at least $ 400,000 in development projects approved by the government of the country.
The program is called “Cash for citizenship” and was launched in 1984. Open to all countries except Iran. Citizenship of the state of Saint Kitts and Nevis gives the opportunity to travel freely in 125 countries of the world.
Dominica, or the Commonwealth of Dominica, is another state (not to be confused with the Dominican Republic) in the Caribbean, offering citizenship through investment. Becoming a full-fledged citizen of this country can be much cheaper than in the case of Saint Kitts and Nevis. A single deposit of $ 90,000 opened with the country’s National Bank is sufficient to ensure all civil rights and freedoms of a resident of Dominica. But if the family consists of four people, then the deposit is doubled. In addition, you will have to pass a general interview and pass an exam on basic knowledge of English.
The program has been operating since 1993, and the country is the only country that offers citizenship in exchange for investments, which does not require a candidate to live on its territory at all, and at the same time recognizes dual citizenship. With the passport of Dominica, you can freely travel to 85 countries of the world, including the countries of the British Commonwealth, led by the UK.
3. Antigua and Barbuda
Antigua and Barbuda – one of the most beautiful countries in the Caribbean has introduced a program citizenship through investment relatively recently. The rules are the same as those of Saint Kitts and Nevis. The main advantage of the citizenship of this country is its diplomatic relations with other countries, and the passport of Antigua and Barbuda allows you to freely travel to 120 countries of the world, including the UK, France, and Canada.
4. Hong Kong
When it comes to the Asian continent, Hong Kong is the most attractive in terms of obtaining second citizenship through investment. To obtain resident status is much easier than citizenship. To become a legal resident of the country, you will have to invest about a million dollars in the stock market, railways or insurance companies.
Living in Hong Kong brings many benefits, including low income tax, excellent medical care, and more. One of the most eloquent evidence of the attractiveness of this country is the fact that more than 100,000 foreigners have already participated in the program.
Closes our list of countries attractive for obtaining second citizenship through investment, Australia, which launched the corresponding program in 2012. In accordance with the laws of the country, the candidate will have to invest about three million dollars. As soon as this condition is fulfilled, the government issues a temporary investor visa, which after four years changes to a passport of a citizen of the country.
Despite the fact that the Australian passport has a clean reputation, and the standard of living in the country is very high, the income tax in the country is also considerable and sometimes reaches 45%. It is because of the general high cost and duration of the procedure for obtaining citizenship so far there is not a large number of people willing to invest in obtaining a passport of this country.
Obtaining a second citizenship has many advantages for entrepreneurs of different levels who want to get some benefits along with a second passport. Unfortunately, not all countries offer convenient programs for the implementation of these desires: the complexity of the design, the length of time, the high cost of the procedure leave their mark. However, checking with our list and doing a little homework, you can find a suitable option.