Although exciting and full of discovery, the present-day world comes with multiple not-so-pleasant surprises. Governments come and go, policies shift, pandemics strike, and people have to handle it all on a daily basis. Yet, there is no need to despair for the solution is close at hand. Citizenship by investment programs have been implemented by various nations around the globe to both make your life easier, give you an appealing residence option, and profit therefrom. For those who consider obtaining a second passport in a Caribbean state, Europe, or elsewhere, local governments keep their doors open.
Say, you can ponder over getting economic citizenship in the Caribbean. With the region’s most affordable and convenient citizenship by investment schemes, it is both a realistic and achievable goal. In 2023, Antigua and Barbuda, Vanuatu, Grenada, Saint Kitts and Nevis, Dominica, and Saint Lucia boast the most appealing citizenship by investment terms and prices.
The latter start from USD 100,000 – the amount you’ll pay to acquire a second passport in Dominica, Saint Lucia, and Antigua and Barbuda. In Grenada, the minimum investment threshold to apply for economic citizenship in the country is USD 150,000 per a single CIP applicant, while in Saint Kitts and Nevis they offer it for USD 200,000. You will have to pay a total of USD 145,000 to become an economic citizen of Vanuatu.
Besides offering competitive CBI prices, the above Caribbean states come with the most competitive CIPs in the region, not only providing for an opportunity to travel the world visa-free, but also allowing potential applicants to apply for E-2 investment visa to the USA (Grenada), no personal income taxes regardless of the investor’s funds origin (Saint Kitts and Nevis), discounts for potential second passport holders (Saint Lucia), and the cheapest family CBI (Antigua and Barbuda).
The waiting times for you to obtain your brand-new economic citizen passport abroad vary with each Caribbean jurisdiction. On average and if accelerated, document processing takes 45 to 50 days in Saint Kitts and around 2 months in Vanuatu, providing for the shortest waiting periods globally.
Europe does its best not to lag behind and remain competitive on the world CBI market. Yet, the region has its own peculiarities potential applicants shall keep in mind if they want to succeed with their CBI applications. In Montenegro, the CIP structure is rather comprehensive. Launched in 2019, it requires potential applicants to not just invest in a preapproved development project but also make a contribution to a special-purpose fund established by the local government.
Active till 2020, the popular Cyprus CBI scheme is currently suspended. Same happened to the Malta CBI program, yet in early 2023, the latter was successfully relaunched, so feel free to apply if this is what you wish and you are happy with the terms.
FYI: to get your CBI in Malta, you’ll have to pay upwards of EUR 780,000 and wait for 3 years under a regular unaccelerated procedure.
The currently popular CIP in Turkey allows you to apply for economic citizenship in the jurisdiction for as much as USD 400,000. The latter is the cheapest option you may use to obtain citizenship by real estate investment in the jurisdiction.
Although not providing for real estate investment opportunities, the Jordan CIP with its wide selection of investment options and short document processing times is a popular citizenship by investment scheme in the region. With prices ranging from USD 750,000 to USD 1,000,000 it is in high demand with potential Middle Eastern applicants for Jordan citizenship.
The Universe of choices above may appear an embarrassment to some. To navigate your way through the available CBI options and choose the one that will suit you the best, expert advice and expertise come invaluable. At International Wealth, we handle our customer’s issues and worries on a case-by-case basis, offering customized consultations and advice. Turning to us for help, you can rest assured, you’ll get the assistance you need. To make your dream of a better life come true in next to no time, go ahead and give us a call or email the International Wealth weathered consultants who are always here to step in.