Birth tourism is a trend that is gaining traction in CL, MX, BR, CA. Providing your child with citizenship at non-resident birth takes careful planning.
Second Citizenship and Passport
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Is the trend of dual/second, multiple citizenships a sign of our time or a whim? What do you need to consider before you become multiple nationals?
Five citizenship-by-investment programs are available in the Caribbean. They may look similar at first glance, but below the surface there are many differences. Each program naturally has its pluses and minuses. We compare them by the following criteria: the cost of acquiring second citizenship, the speed of application processing, the number of visa free destinations available with the Caribbean passport, the requirements for dependent family members, the tax benefits, the passport term of validity, the extradition treaties signed by the countries, and the available investment options.
Modern technologies allow storing vast amounts of information on digital carriers. Personal data can also be put in virtual storage such as a cloud platform, for example. This means that virtual passports can replace the traditional paper-based passports one day. However, some issues related to personal data security make the transition to virtual passports a task for the future.
Are you looking at investing in the Caribbean to obtain citizenship? Sometimes you can obtain real estate loans or seller financing to help you accomplish dreams of security, freedom and privacy for your family.
Recent journalistic investigations have revealed that second passports are sometimes issued to foreign investors who have legal problems in their home countries. Under the pressure from the international authorities, the Governments of Vanuatu, Montenegro, and Cyprus are revisiting the passport issuance cases and revoking some passports that have been issued to foreign investors by mistake.
Montenegro is a European state where you can buy resort property thus qualifying for citizenship of the country. However, there have been certain legal and financial issues with some development projects recently so you had better wait until things settle down. At the same time, the Caribbean countries administering citizenship-by-investment programs have no trouble with the developers of their resort complexes and you can safely invest in some resort property in the region thus qualifying for Caribbean citizenship.
The year of 2020 saw a record-breaking number of Americans renounce their citizenship. A bit less than seven thousand people ceased to be Americans last year. The majority of them are those who live abroad but have to pay taxes to the American budget anyway. The figures for the first half of 2021 suggest that the record can be broken again and the number of Americans renouncing their citizenship will be even greater by the end of the year.
Under the current harsh conditions, people take urgent steps to protect themselves from the coronavirus pandemic that is raging around the globe. Different measures can be taken in this respect, some more drastic, some less. Many people choose to vaccinate, others also buy lung ventilators, and those who can afford it buy private jets. While the latter measure might be a bit too expensive, acquiring foreign citizenship is a personal protection method that is more affordable.
The Cypriot citizenship-by-investment program has been suspended since November 2020. No passports of the country have been issued to foreign investors since that time. It is unclear now when the program will be restarted and if it is going to be restarted at all. However, acquiring a legal residence permit in Cyprus is still possible. Permanent residence by investment in the country is an exciting opportunity to legalize your extended stay in Europe.
Cyprus and Malta used to be the two EU countries that ‘sold’ their passport to foreign nationals. Currently, their citizenship-by-investment programs have been suspended if not closed. However, opportunities to acquire ‘golden visas’ to several European countries in exchange for investments still exist. A ‘golden visa’ is a legal residence permit that may eventually turn into full European citizenship, which makes these options worth considering.
The Government of Saint Lucia in the Caribbean has been administering a citizenship-by-investment program since 2015. A foreign national can make a donation or an investment into the country’s economy and thus qualify for full citizenship of Saint Lucia. As far as potential American investors are concerned, this opportunity should be of interest to them because the Saint Lucian passport will extend their international banking opportunities.
The article stresses the importance of correctly completing the application forms for economic citizenship of a foreign country. When applying for foreign citizenship, the candidate has to disclose a considerable amount of personal information to the immigration authorities of the host country. The nature of the information is specified in the text below.
The article informs the readers about a new requirement introduced by the immigration authorities of Vanuatu. In particular, foreigners acquiring the passport of the country in exchange for investments will now have a special stamp in their passports that indicates the method of citizenship acquisition.
The article describes some restrictions associated with acquiring a foreign passport. Most of these restrictions are of a political character. For instance, the holders of two (or more) passports can be deprived of the right to elect and be elected in some national states.
Dominica uses the money that its citizenship-by-investment program brings to finance various socially significant projects. The funds are used to create new jobs, to restore the infrastructure after the hurricane that caused a lot of damage hitting the island in 2017, to build new schools and hospitals, to improve the quality of education in the country, to promote organic farming, and for many other benign purposes.
When you make an investment in foreign citizenship, you can count on returning it in several different ways. You can save on taxes, on visas, on education for your children, and you can decrease the costs of your business operations and your daily expenses.
Antigua and Barbuda is among the countries that ‘sell’ their passports to foreign investors. However, a foreign passport is a rather special product and it does not sell the way goods are sold in a supermarket. It is not enough to make the required donation or investment to acquire economic citizenship of Antigua and Barbuda. Other payments need to be made as well and the article discusses these payments.
When applying for foreign citizenship by investment, you will have to talk to various agents, consultants, and intermediaries. Some of them will be honest and professional while others may turn out incompetent or fraudulent. The article describes several factors that should put you on the alert when you go through the process of acquiring foreign citizenship or legal residence.
Is your goal to obtain a U.S. green card? The easiest solution (short of marrying an American) is to choose citizenship for investment (Citizenship by Investment; CIP). For example, in Grenada, which has friendly relations with the United States these citizens are given preferential treatment for the registration of investor visas in the United States. Read more “Economic […]
We hear so much about Citizenship by Investment in St Kitts and Nevis these days. But sometimes we need to take a step back from the theory, and look at practical examples of what successful people from around the world have really achieved with their St Kitts-Nevis citizenship. Many people seek privacy when they apply […]
The “sister isles” of St Kitts and Nevis in the Caribbean have recently acquired a reputation amongst crypto investors as the “go-to” jurisdiction. They offer crypto-friendly asset protection, banking, and citizenship by investment. Is everything as good as it looks? Let’s, first of all, clear up some confusion: the twin-island nation is a federation of […]
Citizenship by investment has become extremely popular amongst crypto investors. A second passport is the best strategy we know of… for protecting not just your assets but your personal freedom, more important than ever in times of covid. Freedom, and the other benefits of having a second passport, are simply returns on the financial investment […]
Malta citizenship by investment in 2021 is granted by a new procedure of naturalization of persons whose talents and contributions are of exceptional value to Malta. Can you qualify? Our experts explain the details, offer a free consultation and fee-based services.