Looking into immigration by investment? Look no further. We’re sharing everything you need to know about this incredible opportunity to grow wealth.
A second passport to another country can open countless opportunities found beyond one’s country of residence. From easier international travel, portfolio diversification, to a better quality of life – a second passport offers these and more. But, one has extremely limited options when looking to establish citizenship with another country. The first option, naturalization, can take more than a decade. And a successful application is not guaranteed. Fortunately, immigration by investment is possible. And in this post, you will learn everything you need to know about the fast track to a second passport.
Immigration By Investment 101: Investor Programs, Requirements, And Annual Caps
Immigration by investment works exactly as it sounds. A foreigner can immigrate and gain residency by investing in the country he or she wants to move to. For example: Let’s say you want to gain residency in Antigua, one of the most beautiful yet least visited islands in the Caribbean. Contributions and investments start from $200,000 and can go up to $1.5 million. Now, that’s just a brief overview. Let’s take a closer look at how immigrant investor programs work, qualifications to meet, and annual caps to take into account.
Immigrant Investor Programs
Immigrant Investor Programs are the driving force behind the “citizenship by investment” concept. The programs are designed to entice foreign business people to invest in a country in exchange for residence and citizenship. The benefits of investor programs are clear: The investor gains new residency rights and widens his market reach, while the destination country gains revenue and job-creation opportunities. Gaining residency through investing isn’t unheard of. Yet countries with such programs are few. However, the idea caught up when St. Kitts and Nevis‘ investor residency program began to include contributions to the Sugar Industry Diversification Foundation (SIDF).
Requirements To Meet
The prospect of gaining residency in another country through investing sure is appealing. But know that several qualifications to meet. For starters, applicants must hold no criminal record, be in excellent health, have an outstanding character and a high personal net worth. Other requirements are structured in a way that aids the destination country’s economic and welfare development. Job creation, property buying, and non-refundable or industry-specific donations are par for the course. Yes, qualifying for immigrant investor programs can be a tall order. Applicants for St. Lucia’s program, for example, must have a personal net worth of $3 million or more. The lowest investment option is a $200,000 non-refundable contribution to the National Economic Fund, while the highest is a $3.5 million direct business investment on an enterprise project.
Annual Caps To Consider
If you didn’t think St. Lucia is too selective with its foreign investors, think again. The country’s immigrant investor program was just released in February 2016, and it only accepts 500 applications every year. Clearly, St. Lucia’s program is geared towards wealthy elites around the world. Now, not every country caps their official immigrant investor program. But some do restrict the number of applications, and it’s important to know if your destination country of choice has one.
Interpass Top Picks For Investment Immigration
Different countries have different programs for immigration by investment. Other programs require investment in government bonds. Some allow an outright purchase of a second passport and residency. While others have far more strict rules in place. If you’re looking for investment immigration opportunities that give you the best bang for your buck, our four top picks that follow make a good starting point.
St. Lucia’s newly minted Citizenship-by-Investment Program (CIP) has been mentioned several times in this article (and for good reason). Patterned after Bulgaria’s, but less expensive, it gives investors the choice of buying a passport for $200,000 or investing up to $550,000 in government bonds. The latter guarantees that investors get the original capital back at the end of its maturity. Gaining access to St. Lucia gives immigrants visa-free travel to 121 countries including Switzerland, the UK, Hong Kong, and the 28 European countries of the Schengen Zone. And since the CIP program is new and highly restrictive, investors looking for a low profile and more private investment / citizenship opportunities will find St. Lucia an appealing option.
The Economic Citizenship Program of Dominica attracts applicants with its host of benefits and privileges. The application process doesn’t require interviews, a minimum education level, or managerial experience. But best of all: Dominica offers one of the least expensive passports in the Caribbean. A $100,000-investment is required for single applicants. And an applicant with four family members can expect to a lower total cost of $350,000. Plus, the country boasts the lowest crime rates crime rate in the region, making Dominica more appealing to foreign investors with young family members.
The Caribbean island country shut down its citizenship by investment initiative in 2001 but re-opened its doors in 2014. Grenada’s Economic Citizenship Program requires a $250,000-investment in an approved real estate project. In exchange for the second passport, successful applicants gain access to 110 countries, with the UK, Hong Kong, Singapore and other popular destinations in the list. Investors may love to know that the country’s tourism industry is its leading sector, with the construction, manufacturing, and offshore financial industries close behind.
Hungary’s Investor Residency Bond Program doesn’t set any criteria concerning personal net worth or management experience. Note, however, that the country’s administration officers do have the right carry out an interview with the applicant. Moreover, standard know-your-client and anti-money laundering procedures are part of the application. Purchasing €300,000 worth of special Hungarian government bonds is one of the prerequisites, which means investors eventually get their money back. After the maturity date of five years, the entire capital is returned to the investor but without interest. Hungary’s program uses a single application process for the primary applicant and qualifying family members. And without any age restrictions and residential address requirements, it’s one of the fastest and smoothest-running workarounds for a permanent residency in Europe.
Ready To Have Dual Citizenship…The Fast Way?
More and more people are looking to have dual citizenships for good reason. It’s a great way to protect one’s assets, unlock opportunities around the world, and improve quality of life. And in this brief guide, we looked at how immigration by investment works – from the programs supporting it, qualifications to meet, to our top picks for second passports. If you are ready to be a citizen of another country, why not drop us a message? We are more than happy to help!