Do you think that keeping all of your assets in one place is not a very good idea? Are you looking for geographical asset diversification opportunities? If yes, you are thinking globally indeed. Acquiring a foreign passport is going to serve the purpose of geographical asset diversification very well as it will open a number of new investment opportunities to you.
The world changes rapidly. Do you remember who pioneers of the Internet industry were some twenty or twenty-five years ago? These were such companies as AOL, Yahoo, and Netscape. Where are they now? Well Yahoo is still surviving but it has certainly given in to other search engines such as Google, Baidu, and Bing.
If you held to the shares on the internet pioneer companies, you would have lost money. The same is true for investing in foreign countries: those that looked attractive before have now lost their charms but those that were unthinkable only a few years ago are offering some fantastic investment opportunities today. The only thing that is unchangeable in this world is change.
So, where should you look in order to find the most lucrative investment options and what is required to get access to them? Foreign citizenship and a second passport are going to open many doors to you and vastly extend your investment potential.
If you ask an American about the possibilities to invest into Georgia, he or she will most likely think that you are talking about investing into one of the United States that is called Georgia. However, there is an independent country in the Caucuses, a former Soviet republic, that has the same name. As a matter of fact, this jurisdiction has turned into one of the most attractive places for international business people over the last few years. It offers wonderful conditions to entrepreneurs from all around the globe.
Another example of the country going ‘from zero to hero’ over a short period of time is Colombia. Where one-storied huts were found in the capital city of Bogota only a few years ago, glass-and-concrete skyscrapers can be seen now. We suspect that only a few people know that Colombia has the second largest economy in Latin America, that it offers inviting immigration opportunities, and that many of the country’s investment projects look promising without any doubt.
There are other places on the planet as well that are changing rapidly at the moment and they are changing for the better. If you are able to see their potential, you may find some fantastic investment opportunities there indeed. Kuala-Lumpur in Malaysia, for example, is undergoing drastic transformation. The country is rapidly transiting from agricultural production to providing top-level business services while many people in Europe and America do not have the slightest idea of what is currently going on in Malaysia.
The point is that there are new places that you have to look at if you are thinking about diversifying your assets geographically. The world is changing and what worked before does not work so well any longer. But at the same time, new opportunities arise that were inexistent earlier. A second passport will seriously extend the range of your investment opportunities.
The main advantages that a foreign passport brings
The ongoing coronavirus crisis clearly shows that holders of foreign passports experience lesser inconveniences that the global lockdown has brought about in comparison to those people who are citizens of only one country. With the national borders closed, foreign passport holders have at least one more country where they can go during the troubled times. Many national states do not let foreigners in but they will always let their own citizens enter the country wherever they came from. Having a second (a third, a fourth, etc.) passport has other advantages too. These include the following ones:
- Extension of investment opportunities. When you have a foreign passport, you gain access to more markets, which simplifies directing the money flows to the destinations that promise larger profits.
- Freedom from the limitations that your home country imposes. Increase your personal sovereignty. Rid of the obligation to identify yourself as an inhabitant of a single country that will necessarily bind you in certain ways and make you live by some nonsensical rules.
- Visa-free access to a larger number of foreign countries. A foreign passport will enlarge the number of national states that you can visit without obtaining visas.
- Lesser impact from the lockdown. Your second passport can solve many problems related to crossing national borders. At least, you will be able to go to the country of your second citizenship.
- Enhanced personal security for yourself and your loved ones. Dual citizenship guarantees that you have a ‘plan B’ in case anything goes wrong in your current country of residence. You will feel much more secured as you will be prepared even for the unexpected.
- Wider opportunities for tax planning. You can use your second citizenship to lessen your tax burden. You have to realize, however, that you can become a tax resident in your second home country only if you live there for the best part of the year.
- Benefits for future generations. You can acquire foreign citizenship not only for yourself but for your family members as well. When your children have second passports, they can pass on their foreign citizenship to their children, and so on.
- A chance to renounce your present citizenship. Some people are unhappy to be citizens of the country of their birth. Renouncing the citizenship acquired by birth to become an apatride (a stateless person) is certainly not an option but when you have a second passport, you can drop your original citizenship with a light heart.
Where can you acquire a foreign passport fast and easy?
A few Caribbean countries offer their passports to foreigners for US$ 100,000. You have to add the administrative costs and the costs of the immigration agent’s services to this amount but the total sum of investment is not going to look astronomical anyway. No foreign citizenship can be acquired for a lower investment amount. In addition to the affordable price, these countries provide for an opportunity to acquire their citizenship remotely within 6 weeks to 6 months, depending on the particular country.
Five countries in the Caribbean basin run citizenship-by-investment Government programs. These are Saint Kitts and Nevis, Saint Lucia, Dominica, Grenada, and Antigua and Barbuda. The legislations of all these countries permit dual citizenship so you will not have to renounce your present citizenship when becoming a citizen in the Caribbean if you do not wish to do so.
Whichever of the five countries you choose to apply for citizenship to, the first step will have to be finding a licensed immigration agent. The authorities of no country accept direct applications for citizenship from foreigners. The second thing you will have to do is satisfy that authorities of the host country that your investment capital comes from legal sources. This can is done by submitting the required financial documents. In addition to that, all candidates for Caribbean citizenship have to undergo strict due diligence checks. Only trustworthy foreigners can acquire second passports. Below please find brief information about how you can apply for citizenship of each of the five Caribbean states granting their passports to foreign nationals in exchange for investment.
How can you become a citizen of Dominica?
You can acquire economic citizenship of Dominica by donating US$ 100,000 to the State Transformation Fund or by investing US$ 200,000 into real property in the country. The property has to remain in your possession for three years after which it can be resold. Citizenship of Dominica can also be granted by birth, by origin, by marriage, or by naturalization.
- Anyone who is born in Dominica becomes its citizen regardless of his/ her parents’ country of citizenship. The exception is the children of foreign diplomats residing in Dominica.
- If a child is born abroad but to the parents who are citizens of Dominica, the child also becomes a citizen of the country.
- Anyone who is married to a Dominican citizen and who has legally lived with his/ her spouse in Dominica for three years can apply for full citizenship of the country.
- Anyone who has legally lived in Dominica for five years residing in the country for the beast part of each year is eligible to apply for Dominican citizenship by naturalization.
How can you become a citizen of Grenada?
You can acquire economic citizenship of Grenada by donating US$ 150,000 to the State Development Fund or by investing US$ 220,000 into real property in the country. The property has to remain in your possession for five years after which it can be resold. There are alternative paths to Grenadian citizenship too:
- Anyone who was born in Grenada after February 5, 1974 automatically becomes a citizen of the country. This rule does not extend to children of foreign diplomats.
· If a child is born abroad but to the parents who are citizens of Grenada, the child also becomes a citizen of the country.
- The spouse of a Grenadian citizen is eligible to apply for citizenship of the country if the marriage contract was signed after February 5, 1974.
- Citizens of other Caribbean states have to live in Grenada for five years in order to qualify for citizenship of the country via naturalization. Citizens of all other counties have to live in Grenada for seven years to become naturalized Grenadians.
How can you become a citizen of Saint Lucia?
You can acquire economic citizenship of St Lucia by donating US$ 100,000 to the National Economic Fund. You can also make the following types of investments thus qualifying for St Lucian citizenship:
- Invest US$ 300,000 into real property in the country;
- Invest US$ 1,000,000 into a business venture in St Lucia while creating new jobs;
- Invest US$ 500,000 into zero-interest Government bonds (special offer is in effect until the end of 2020 that provides for the opportunity to invest twice as little into Government bonds while still qualifying for citizenship of St Lucia).
St Lucian citizenship can also be acquired by birth, by origin, by marriage, and by naturalization.
- People born in St Lucia automatically become citizens of the country (this rule is not applicable to diplomats’ children).
- If at least one of the child’s parents is a citizen of St Lucia, the child qualifies for citizenship of the country too.
- You can become a naturalized St Lucian after legally residing in the country for eight years.
- The naturalization process can be accelerated in case you marry a citizen of St Lucia.
How can you become a citizen of Antigua and Barbuda?
You can acquire economic citizenship of Antigua and Barbuda by donating US$ 100,000 to the National Development Fund. It is also possible to become a citizen of the country by investing US$ 200,000 into real property or by investing US$ 400,000 into a business venture in Antigua and Barbuda. Other ways of acquiring Antiguan citizenship include the following ones:
- Anyone who was born in Antigua and Barbuda before November 1, 1981 automatically becomes a citizen of the country by birth. People born in the country after this date can also become full citizens with the exception of foreign diplomats’ children.
- You are also eligible for citizenship of Antigua and Barbuda if you were born outside the country before November 1981 while at least one of your parents or great parents is/ was a citizen of Antigua and Barbuda. Those who were born after the specified date, have to have at least one parent as a citizen of the country in order to qualify for Antiguan citizenship.
- The spouse of an Antiguan citizen qualifies for citizenship of the country after three years in marriage.
- Foreign nationals who have legally resided in Antigua and Barbuda for seven years also become eligible for citizenship of the country by naturalization.
How can you become a citizen of Saint Kitts and Nevis?
You can acquire economic citizenship of St Kitts and Nevis by donating US$ 150,000 to the Sustainable Growth Fund or by investing US$ 200,000 into real property in the country on the condition that the property shall remain in your possession for seven years. There are alternative paths to citizenship too:
- Anyone who was born in St Kitts and Nevis after September 19, 1983 automatically becomes a citizen of the country.
- If both of the child’s parents are citizens of St Kitts and Nevis, the child qualifies for citizenship of the country regardless of the place of his/ her birth.
- Foreign nationals who are married to citizens of St Kitts and Nevis qualify for citizenship of the country and there is no waiting period before the application can be filed.
Please bear in mind that if you choose to acquire Caribbean citizenship by investing into real property, you have to make sure that the development project you are planning to invest in has been approved by the corresponding national Government for the participation in the citizenship-by-investment program. In other words, you cannot purchase any piece of property that you like – only an approved one.
If you would like to learn more about the opportunities to acquire foreign citizenship by investment in the Caribbean, please apply for our professional advice. You are welcome to use the email address that you can find above the text, the live chat, or WhatsApp. We will be happy to answer all your questions and suggest the best routes to acquiring a foreign passport to you.
Other citizenship-by-investment opportunities
In addition to the Caribbean states mentioned above, there are countries in other parts of the world that run national citizenship-by-investment programs. One such option is the island state of Vanuatu that is located in the South Pacific. Similarly to the Caribbean countries, Vanuatu is highly popular with tourists from all around the world. As far as the cost of acquiring Vanuatu citizenship is concerned, it is comparable to the cost of acquiring Caribbean citizenship too. The amount of the required donation to the state fund is a bit less than US$ 150,000. You have to bear in mind, though, that there is no opportunity to become a citizen of Vanuatu in exchange for investment: the only available option is making the donation. The Government of the South Pacific state is currently considering the possibility to offer citizenship to foreigners for investments but the matter has not been resolved so far. If this opportunity ever becomes available, the readers of our portal will be the first to learn about it!
If you feel that both the Caribbean and the South Pacific is a bit too far away for you, there are several countries in Europe and a couple in Asia that also offer their citizenship to foreigners for money. As far as the European countries are concerned, Monte Negro offers the most affordable foreign passport in Europe. Acquiring one involves making a donation and an investment into real property on top of that. The total amount of required investment will come up to at least 250,000 euros if you choose Monte Negro as your second home country.
The largest advantage that the country offers is its geographical location. Being a Central European country Monte Negro is in the center of thigs indeed. It is not an EU member thus far but the country’s prospects to join the Union in the near future look good. The point that we would like to make is that relocating to Monte Negro may be an opportunity that is worth considering. The climate is quite mild there, the nature is beautiful and the Adriatic Sea on whose coast the country sits is often regarded as the most attractive sea to be found in Europe. It has to be admitted that the national citizenship-by-investment program is quite young in Montenegro and for this reason it may not run as smoothly as the Caribbean programs do but we suggest that you should give this option some thought anyway.
One more country that is partially located in Europe (though the largest part of its territory lies in Asia) and that also grants its citizenship to foreign investors is Turkey. Acquiring the Turkish passport does not cost too much either: the minimum required amount of investment into real estate that will make you qualified for Turkish citizenship is US$ 200,000. Besides, there are other investment options that can bring you the Turkish passport even though their amounts are notably higher. One serious disadvantage of this foreign citizenship option is that the Turkish passport does not give visa-free access to a great number of countries. At the same time, getting an E2 visa to the USA is easy for Turkish citizens.
One of the most attractive opportunities to acquire a second passport is to become a citizen of Malta. The country is a full member of the EU and thus its passport gives visa-free access to all European states and most other countries of the world. At the same time, around a million euros is required to obtain Maltese citizenship and the largest portion of the total investment amount will have to be made in the form of a non-returnable donation. In addition to that, a whole year will pass before you can receive the Maltese passport after you apply for citizenship of the country. However, the opportunity to become a European citizen may well be worth the time and the money.
Cyprus is one more European state that grants wealthy foreigners its citizenship in exchange for investments. In the case of Cyprus, however, the required investment amount exceeds two million euros. In addition, purchase of real property in the island is unavoidable and the property needs to remain in the investor’s possession for life. The Cypriot citizenship-by-investment program is popular with wealthy foreigners who are attracted to the country by the benefits that it offers for HNWIs. Living in Cyprus and doing business from there is comfortable indeed, if you are a wealthy person.
Finally, Jordan in the Middle East offers citizenship-by-investment opportunities as well. The investment options are numerous and the required investment amounts are quite high. At the same time, the Jordanian citizenship-by-investment program has a very clear target audience. It is aimed, first of all, at wealthy citizens of other Muslim countries who would like to acquire a foreign citizenship.
Apply for professional consultation on acquiring a foreign passport
The COVID-19 pandemic has already had a serious impact on most national economies. The small island states that run citizenship-by-investment programs heavily depend on tourism and thus, they are suffering more than others are from the coronavirus-inflicted economic crisis. This sad situation is making the national Governments try very hard to keep the economies going. One of the measures that has been taken is the introduction by some state authorities of various discounts that are offered to foreigners applying for citizenship now. For this reason, now is the time to acquire second citizenship if you can only afford it.
Our team specializes in economic immigration issues and we will be happy to give you professional advice on choosing the most attractive citizenship-by-investment opportunity. Please write to us and request a free consultation on the matter.
Where can I purchase the least expensive foreign passport?
Antigua and Barbuda, St Lucia, and Dominica in the Caribbean offer the least expensive second passports. Whichever country you apply for citizenship to, you will have to make a non-returnable donation of US$ 100,000. Please bear in mind, however, that the total amount of money required to obtain a second passport is going to be more than the amount quoted above. You will have to cover the costs of the immigration agent’s services as well as administrative and due diligence costs.
Where can I acquire foreign citizenship in the fastest way?
St Kitts and Nevis in the Caribbean and Vanuatu in the South Pacific issue the fastest foreign passports. In both of these jurisdictions, the time required to obtain the passport is six to eight weeks only. Please be aware, however, that in St Kitts and Nevis you have to pay some extra for the accelerated application processing.
Where can I acquire the most powerful foreign passport for money?
The Maltese passport gives visa-free access to a larger number of foreign countries than the passports of any other country that grants citizenship to foreigners for investment. These foreign countries include not only European states but also Great Britain, the USA, Canada, Australia, and so on. Next comes the passport of Cyprus with only a little fewer visa-free destinations on the list.