The authorities of Suriname are considering the feasibility of launching a program for issuing golden passports to foreigners. At the moment we do not know when it will become possible to obtain Surinamese citizenship by investment, or how much it would cost.
Our regular readers are well aware of the many working alternatives available today. Please follow the link to compare various citizenship by investment programs: COMPARE PROGRAMS.
However, the government of Suriname has made the first steps to launching their own citizenship by investment program. Further on we are going to give you a detailed description of the possible benefits and most important features of such a program.
Suriname Citizenship by Investment Program Announced
On September 29, 2022, during his annual speech in Parliament in the capital Paramaribo, the President of Suriname, Chandrikapersad “Chan” Santohi, claimed that “a group of experts is exploring the possibilities for launching a citizenship by investment program” in this South American country.
According to the press release issued by the government on the matter, launching the country’s own golden passport scheme will be one of several measures included in a broader strategy aimed at stimulating economic development of Suriname.
The President did not provide more detailed information about the administration’s plans to enter the world investment immigration market. Mr. Santohi just noted that Suriname has a great potential in the agricultural sector, tourism, and mining (the latter including the extraction of gold, granite, oil and gas). The politician expects this potential is able to attract significant foreign investment into the country.
If you do not want to wait for the launch of the Suriname citizenship by investment program, we can assure you that there are many alternative routes leading to the golden passport already available today. To find out more, please book a consultation with one of our specialists by filling out the form below. Order a FREE individual consultation with one of our experts today!
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Suriname is a truly unique country. For example, despite the proximity to a number of Latin American jurisdictions, the local population speaks Dutch. The country also has a number of features that make it a favourable platform for launching the new citizenship by investment program.
The annual volume of the country’s economy is about $3 billion. This amounts to about 50% of the GDP of Montenegro and around 200% of the GDP of Antigua and Barbuda – two jurisdictions that already have functional citizenship by investment programs and issue passports to foreign investors. This comparison suggests that the capital that may flow into Suriname’s economy through the economic citizenship program can make a big difference to the public treasury.
The map above makes it evident that the Surinamese passport holders are not allowed visa-free entry into the Schengen area. But citizens of Suriname are eligible to enjoy visa-free business / tourist trips (with e-visas or visas on arrival required in some cases) to 78 countries and territories of the world, including Japan, South Korea, Hong Kong, Singapore, India, Turkey, Indonesia, Malaysia, Philippines, Israel, Iran, China, Russia, CARICOM states, and most of Latin America.
When will the Surinamese authorities get down to real action?
The most attentive and regular readers of our portal who monitor the situation on the investment migration market are well aware that in many cases the news about certain countries considering the launch of their own economic citizenship program do not really go anywhere.
On some occasions, it all ends with loud statements made by politicians, who make sure to state uncertain or vague deadlines and underline that they are ready to see things through, despite the pressure from international organizations and political structures like official Brussels or Washington.
For example, news on the topic has been coming from El Salvador, where the information that the country is about to announce its residency by investment program has been circulating since February 2022, but the launch has not taken place quite yet.
That said, there are quite a few countries that have been running economic citizenship and golden visa programs for various periods of time.
Where is citizenship by investment available today?
The states included in the table below offer their economic citizenship programs to foreign investors:
|Country||Processing time, months||Minimum contribution|
|Antigua and Barbuda||3-4||US $100,000|
|Malta||12-36 (depends on the invested amount)||€ 738,000|
|Montenegro||8-10||€ 250,000 (investments) + € 200,000 (non-refundable contribution)|
|North Macedonia||2-5||US $200,000|
|Commonwealth of Dominica||3||US $100,000|
|St. Kitts||3-6||US $150,000|
|St. Lucia||3-4||US $100,000|
|Türkiye||around 4||US $400,000|
The amounts of the investment shown in the table above are relevant only for single applicants. If the applicant’s dependents (a spouse, child/children, parents, brothers and sisters) are added to the application (if this opportunity is included in the conditions of the selected economic citizenship program), the total amounts payable will increase.
Additionally, you will need to pay administrative fees (covering due diligence of the candidate and dependents, application processing, issuance of passports). Also, you will pay the fee to the immigration agent accredited by the government of the host country, through whom the application will be submitted. (Applying for citizenship by investment by yourself, without using a government-licensed agent is forbidden).
If you would like to know more about various citizenship by investment programs, please read the following materials on our portal:
- All Available Options for Citizenship by Investment
- History of Citizenship by Investment Programs
- Citizenship by Investment in Grenada
- Complete Guide to Turkish CBI Programs
- Caribbean Citizenship by Investment
- Applying for CBI: Potential Dealbreakers
What Are the Benefits of the Second Passport?
Many wealthy people who can appreciate the benefits of having a second passport find the opportunity to obtain a second citizenship through investment or on other available grounds very attractive. The list of benefits of multiple citizenship includes, but is not limited to:
- Easy travel around the world: Holders of multiple citizenships are free to travel the world without having to get a visa (although some countries still require). Having a second passport saves travelers the time, money, and hassle of having to apply for a visa in advance and go through a lengthy bureaucratic process. For example, holders of the passports of Caribbean Grenada, which offers citizenship by investment that can be processed completely online, can visit over 150 countries visa-free or with visa on arrival (or e-visa) received on the border. This list includes the states of the Schengen Agreement, the UK and China. It is good to note that, as a rule, when leaving the state of citizenship, the traveler must present the passport of that country. However, having left the country of citizenship, the dual-passport holder has the right to use any available legitimate travel document.
- Additional protection abroad: Multiple passport holders are entitled to enjoy diplomatic protection in the embassies / consulates of all the states of their citizenships around the globe. In addition, citizens of the member states of the Commonwealth of Nations and the European Union have the right to rely on the assistance of diplomatic missions of other countries that are members of the relevant organizations when traveling around them. It is also important to note that an extra passport is excellent for withholding information about one’s own country of origin for security reasons. For example, citizens of the USA are not welcome in some countries of the Middle East. Using a neutral Grenada passport, a US citizen can travel around the region without being afraid for their own safety.
- New opportunities for work and business: Holders of a number of passports have the opportunity to work freely in multiple countries of citizenship, as well as in geopolitical communities that include that state (for example, CARICOM, the European Union, MERCOSUR). For entrepreneurs, a second passport makes it easier to do business in two countries and increase the outreach to their target audience.
- Getting rid of banking restrictions: Bankers are sometimes in no hurry to provide services to holders of certain passports that they consider “toxic”. If such limitations are connected with some political misunderstandings with the person’s country of origin, a second passport can be really helpful in getting good-quality banking services.
- Participating in the new homeland’s political process: An additional benefit available to holders of two or more passports is the right to participate in the political life of any state of citizenship. This includes, among other things, the rights to be elected to public office and participate in various elections.
- Access to better services: A properly chosen second citizenship entitles the dual citizen to unhindered access to the social infrastructure of the new homeland. For example, a person with a second passport can freely receive medical treatment or education in their new homeland.
- Getting rid of investment restrictions: An additional benefit of obtaining a second passport is the right to own real estate in both countries of citizenship. In some states, including, for example, Serbia, Thailand, and a number of other Asian jurisdictions, foreigners’ rights to own land or real estate are significantly limited, so non-citizens have to buy such assets for a legal entity.
- Reducing the fiscal burden: Obtaining a second passport in a low-tax jurisdiction with subsequent relocation to this state allows you to completely avoid the need to pay personal income tax on income from sources around the world. For example, this opportunity is offered by 3 countries that issue citizenship by investment: Antigua, St. Kitts, and Vanuatu.
- Plan “B”: Having a second citizenship is your ultimate “insurance policy” that allows you to use your new homeland as an “alternate airfield” for evacuation in the event of a sharp deterioration in the political and social situation in your country of current residence or your historical homeland.
- Widening your worldview: The second passport allows you to explore the world and get acquainted with speakers of other languages / cultures. It is easier for dual nationals to immerse in a foreign culture, get used to the new homeland, study the local language, learn more about the history of the country of second citizenship, and so on. This process can be really exciting.
Getting Expert Assistance in Obtaining your Golden Passport
Have you decided to get a second citizenship as an investor? Are you looking for a golden passport? You don’t have to make a frustrating journey across the ocean of information about dozens of citizenship by investment programs, with all their various features, like different document requirements, terms of approval, amounts of investment, passport holder rights, and so on. You can book a consultation with one of our seasoned experts in order to get help in choosing the most appropriate route for your investment immigration and the target country that would be best-suited to your needs and wishes.
Contact us to get expert assistance today! You can fill out the feedback form below, call us on the phone, or e-mail us at firstname.lastname@example.org.
Our experts will be happy to provide full legal and administrative support and help you to reduce the paperwork and the stress while figuring out the best possible options just for you!
Is it true that you can get a golden passport in Suriname?
So far, Surinamese legislative framework does not provide for this. It is true that in September 2022 local authorities announced that they have started preparations for launching their own economic citizenship program. However, the country has not yet moved from words to deeds. Please note that there are over a dozen countries already running such programs today. Please, consult the experts from our team to learn more and get a personal offer.
How much will you have to pay for a golden passport?
The cost of a second passport issued through investment or donation in favor of the host country (golden passport) depends on the chosen state and the features of the local investment citizenship program. For example, in Turkey, the minimum allowable investment amount is $400,000 and this money has to be invested in real estate. In the Caribbean (Dominica, Saint Lucia), you can spend 4 times less by making a donation to the host state. There are a number of additional fees to be paid, including fees for the application processing and candidate due diligence.
Which country is the fastest to issue citizenship to investors?
Those who would like to get a golden passport as soon as possible are advised to regard participating in St. Kitts’ or Vanuatu’s CBI programs. Both these states grant citizenship to investors within 2-3 months, and there is no need to make a visit to the country in person in order to complete the necessary proceedings (the whole process is organized remotely).