Currently, the world is facing a coronavirus pandemic while all nations and international organizations are doing everything they can to combat the disease. Every person is also taking his/ her own measures to protect themselves from the coronavirus. Many people are vaccinated, those who can afford it buy lung ventilators, and the wealthier individuals buy private jets and foreign citizenship. Let us discuss how acquiring a second passport can be of use during the hard times.
The coronavirus crisis has changed our worldview and brought about some phenomena that we never knew before. Lockdown, social distancing, self-isolation, work-from-home, closed borders – all these things are new to us and most of them are very hard to endure. We have to put up with numerous restrictions, however, because COVID-19 can be deadly. And of course, we must fight the virus and do everything that we can to overcome the pandemic.
One of the most efficient personal protection measures would be acquiring a possibility to relocate to a safer place during the times of the pandemic. If you can afford it, obtaining foreign citizenship by investment would bring such an opportunity. This will come at a price but the advantages that the foreign passport can bring outweigh the cost considerations.
Coronavirus is not saying goodbye yet
The world got really frightened when the COVID-19 appeared and the pandemic quickly started. However, the virus is mutating and new strains are discovered in various parts of the world on a regular basis. The problem is that the mutating virus can be even more deadly. Besides, they can spread faster and the vaccine efficiency can decrease. Diagnostics is another issue with the new strains as the mutating virus can ‘hide’ more successfully.
The WHO experts monitor the situation very closely and inform the world community about any important changes that occur. Recently, for example, a ‘delta’ strain was discovered in India and this variation of the virus looks frightening indeed.
The Greek alphabet is used to give names to the new virus strains. It is evident that the virus keeps mutating and the Greek alphabet contains 27 letters… This means that we must prepare for the worst and do our best to hedge the risks as our survival is at stake. Acquiring foreign citizenship is an efficient instrument in combating the coronavirus at the personal level. A second passport also gives access to other valuable instruments that will help you protect your health and your wealth in difficult times.
Take complex measures to fight the coronavirus
Obviously, we must use all the methods of protection that are available to us. Only complex measures can guarantee our survival. There are several things that we can do to combat the coronavirus. The protection measures include the following ones: vaccination, purchase of a lung ventilator, a private jet, and foreign citizenship.
Multiple clinical investigations show that vaccination can at least lessen the negative consequences of the infection and sometimes even prevent catching the disease. Vaccines also help the body to withstand new strains of the coronavirus.
The situation with the vaccination is not problem-free, unfortunately. A number of national states put out their own vaccines and some of them are at odds with each other and so they use the vaccine issue for political pressure and geopolitical maneuvering. The European Union, for example, does not recognize the vaccines produced in China and Russia. This means that even vaccinated citizens of these countries are unable to visit most of the Old World countries.
Another problem is the COVID discrimination that occurs in several countries of the world. People in Israel, Italy, Malaysia, the UAE, and Russia are facing the threat of dismissal if they refuse to vaccinate. Luckily, this concerns only some groups of people in these countries.
Wealthier people started buying lung ventilators when the pandemic only began. Saturation can be required to save a patient with severe symptoms of COVID-19 infection. The demand has been falling and rising again since that time. Lung ventilators become more popular when a new strain of the coronavirus is discovered, according to market research.
At the same time, some clinical research shows that lung ventilators are not applicable in all cases. Elderly patients are especially vulnerable in this respect. So the lung ventilation issue can be dubious.
The coronavirus pandemic has made it clear for wealthy people that they cannot take their money with them to the better world. So many of those who can afford it consider it a good investment to buy a private jet. This means of transportation will probably allow escaping to a safer place if bad comes to worse. This is an efficient measure of self-protection especially if you have it in a combination with foreign citizenship.
According to Bloomberg that quotes First Republic Bank and Citigroup Inc. representatives, the demand for private jets is booming. Many people who have never owned a plane before are pulling themselves together and making a bold step in an attempt to improve their personal mobility.
The companies trading in private jets warn the buyers that considerable maintenance costs are associated with owning a plane. This does not stop people from buying private jets, however, as they want to be able to get away as fast as they can if they have to.
Textron, a division of the Gulfstream branch of General Dynamics reports that the sales of private jets grew in the first quarter of 2021. Company spokespersons expect that the tendency will continue in the near future.
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Foreign citizenship by investment
Let us be frank: an opportunity to get away to an isolated island would be especially precious when the pandemic is raging in densely populated areas of the world. Is this just a dream or a real possibility? Luckily, acquiring foreign citizenship of an island country is quite possible and moreover, you can obtain the passport without leaving the comfort of your home. The foreign citizenship acquisition timeframes are also acceptable: you will have to wait for your second passport for years.
It is true that many national borders are still closed but all countries will let their citizens and legal residents in. When you have the passport of a foreign state, it ceases to be a foreign state to you. Rather it becomes your second home that will welcome you anytime.
The authorities of the countries granting their citizenship to foreign investors realize that with limited travel opportunities fewer people can visit them as tourists. This is the reason why the six island states listed below make the procedure of applying for their citizenship fully remote. We list five Caribbean countries providing foreign citizenship opportunities and Vanuatu, an archipelago located in the South Pacific and indicate the minimum required donation amounts and the foreign citizenship acquisition timeframes in parentheses. Making a non-returnable donation is the most affordable option in any country as far as the investment amount is concerned. The Caribbean countries offer additional investment options too while the only option available in Vanuatu is the donation.
- Antigua and Barbuda (US $ 100,000; three to six months);
- Dominica (US $ 100,000; three to six months);
- Grenada (US $ 150,000; three to six months);
- Saint Lucia (US $ 100,000; three to six months);
- Saint Kitts and Nevis (US $ 150,000; from six weeks);
- Vanuatu (US $ 145,000; from six weeks).
These citizenship-by-investment programs are more attractive that some competing national programs for several reasons. Citizenship of Malta, for example, costs much more and it is unclear at the moment if it is going to remain possible to apply for foreign citizenship of the country. (The Maltese authorities are at adds about their citizenship-by-investment program with the European authorities.) If you would like to acquire foreign citizenship of Montenegro or Turkey, you will have to pay a personal visit (or several personal visits) to the countries. The abovementioned countries accept online applications for citizenship and their immigration authorities will send the passport to wherever you are when it is ready.
Another advantage that all of these states boast is small numbers of people living there. When the population of the country is not large, it is easier to take tests and to vaccinate most of them. When the country is a small island, it is easier to keep strangers away.
Main advantages of acquiring foreign citizenship of an island state
The financial crises of the last two decades and the current pandemic clearly show that you cannot be too cautious, as the popular wisdom goes. You have to look ahead and prepare yourself for any blows that the future may have in store for you.
Geographic asset diversification is as important as having shares of various companies in your investment portfolio. Caribbean states in particular offer opportunities to make a returnable investment (in luxury hotel property, for example). This means that you do not have to say goodbye to the money that you are investing in foreign citizenship acquisition. If the world recovers and things get back to normal again, you will be able to make a profit when reselling your Caribbean property a few years later.
Acquiring foreign citizenship in the Caribbean and Vanuatu will bring the following fundamental advantages:
- An opportunity to quickly leave your home country should the need arise: One of the most important advantages of having foreign citizenship is the opportunity to leave your home country/ country of residence immediately if a political or an economic crisis bursts out or if the pandemic gets out of hand. You do not have to apply for a visa and wait while your application is processed: you can pack up and leave on the day when you make this decision. It is also worth noting that you can easily return to your home country when things settle down there. All the Caribbean states as well as Vanuatu have nothing against dual citizenship and you can keep your present passport too. Problems may arise though if your home country disallows dual citizenship.
- Access to a large number of socio-economic benefits: In addition to gaining access to high-quality medical services in the countries under consideration, you will have the possibility to use the benefits of the local education systems, transportation services, and other socio-economic benefits. Acquiring foreign citizenship is a way to improve the overall quality of your life and manage your finances in a more efficient way.
- Perfect price-quality ratio: Foreign citizenship of a Caribbean country and Vanuatu can be acquired in a fast way, a simple manner, and at an affordable cost in comparison to citizenship of other countries. Citizenship of Malta, for example, costs much more and it will take you years to acquire the Maltese passport even though we must admit it is a stronger travel document compared to the Caribbean passports. Turkey and Montenegro want their prospective citizens to appear in person when applying for citizenship, which the Caribbean states and Vanuatu do not require.
- A possibility to enter new markets and grow your business when acquiring foreign citizenship: If you are a business owner, you will have no trouble extending your business to the Caribbean or setting up a new business company there. Full citizens of the country do not have to face any bureaucratic barriers when engaging in business activities in the region, which is not true for foreign entrepreneurs. The Caribbean countries can serve as a nice platform to start close cooperation with North, Central, and South American business partners. A company in Vanuatu is going to be relatively close to such vast markets as China, Japan, Australia, and New Zealand.
- Tax incentives for foreign investors: Acquiring foreign citizenship in the Caribbean or Vanuatu is attractive for tax planning purposes as well. If you choose to become a tax resident in St Kitts or Antigua, for example, you will not have to pay the personal income tax on your global earnings. Besides, the Caribbean states do not levy the gifts tax, the inheritance tax, the wealth tax, nor the capital gains tax.
- An opportunity to explore new cultures: Cultural diversity is one of the things that makes living in this world interesting. When you acquire foreign citizenship in the Caribbean or Vanuatu, you will be able to acquaint yourself with the bright unique cultures of the local peoples. This will extend your horizons and you will learn to appreciate the differences between people and their worldviews.
Expert support in acquiring foreign citizenship by investment
Foreign citizenship and a second passport is not a whim any longer. In crisis times, foreign citizenship is a ‘basic need product’ for a well-to-do businessperson/ investor. Moderate investments in real property abroad or a business venture (some countries have this option too) will bring you and your family a vast number of valuable advantages. When acquiring foreign citizenship in the Caribbean or Vanuatu, you can significantly lower the risk of catching the coronavirus. Even if you do, the healthcare services (in the Caribbean countries especially) are at a very high level.
InternationalWealth team and our partners in the Caribbean and Vanuatu will be happy to assist you in quickly acquiring foreign citizenship by investment. We will analyze your preferences and your financial opportunities and suggest the best option of those available. There are not too many countries where you can acquire foreign citizenship but there are still a few and their citizenship-by-investment programs are different. You will gladly help you compare the advantages and disadvantages that each such program has and then make the best choice.
Please apply for a free consultation with InternationalWealth experts on acquiring foreign citizenship right now! You are welcome to contact us in any way you choose: by email, a messenger, or our live chat. We always reply promptly!
Why should I acquire foreign citizenship during the pandemic?
When you have a collection of foreign passports, your mobility is greatly improved. Some national states close their borders to foreigners due to the pandemic while none of them closes their borders to their own citizens. So if you have a choice of national passports, you then have a choice of countries that you can legally enter without any trouble. Besides, the hard times are making the authorities of the countries granting citizenship to foreign investors come up with some discount programs and limited-time offers. This means that the right time to apply for foreign citizenship is now.
Why should I choose to acquire foreign citizenship by investment?
It is true that you can acquire foreign citizenship by some other methods such as marriage or naturalization, for example. By foreign citizenship by investment can be obtained almost instantly while you will have to wait for a long time if you choose another method of foreign citizenship acquisition. Besides, your investments can be returnable. If you buy some real property abroad, for instance, you will be able to sell it back after three to seven years (depending on the country) while keeping your second passport. In addition to that, foreign citizenship by investment can be acquired remotely in many cases.
Who can help me acquire foreign citizenship?
Foreign citizenship acquisition is a complicated process and you will need some professional assistance there. Please contact InternationalWealth right now to find out what we can do for you.