This fund requires a contribution of US$150,000 from a single applicant, plus the government fee of $7,500. This strategy would, for example, make sense for financial professionals who are employees working overseas and earn significantly more than the Foreign Earned Income Exclusion (FEIE) limit allows. The traditional government bond option requires investors to keep bonds for at least five years. Cypriot authorities were swift to deny these allegations, claiming that previously lacking due diligence issues had been addressed. Alternatively, you can deposit $500,000 in a local bank for at least three years. A few citizenship by investment countries give you the option to buy government bonds, which locks your investment in an interest-free account for several years. What Countries Can You Enter Visa-Free With a Citizenship-By-Investment Passport? Adding a spouse is only another $8,000 in fees. And several of our members have re-invested the profits they made from our private investment deals into our citizenship-by-investment service and saved tens of thousands of dollars. If You Are A High-Income-Earning American... download a free in-depth intelligence report on, allows entrepreneurs to start certain types of businesses, The number of visa-free countries its holders can visit, Citizenship By Investment Comparison Sheet, Purchase A Government-Approved Real Estate Property, Caribbean Citizenship By Investment Programs, European Citizenship By Investment Programs, Click here to learn more about Total Access, Download our Citizenship By Investment Comparison Table. It’s free, it’s packed with information, and best of all, it’s short… there’s no verbose pontification here– we both have better things to do with our time. Obtaining a second passport could be one of the best investments you’ll ever make. Find out inside our Citizenship By Investment Comparison Sheet where you’ll see all the countries you can (and can’t) enter visa-free with each passport. It’s without a doubt a fantastic passport. Even if you don’t have Italian ancestors, this report will give you a better idea of how citizenship by descent works. Instant citizenship is possible when you invest in a government fund, local real estate property, an approved business, or in government bonds. And if you’re eligible for citizenship by descent, then your children can also get a second passport. First, the opportunity costs: instead of an investment in a cash-flowing (albeit, overpriced) rental property or a business, your money just sits in the government’s coffers, offering no return. Greece offers a fully legal residency by investment program; I covered it in a video here. Fast Track Bulgarian citizenship and passport by Investment. The European Union is a political and economic union of 27 European states (after discounting the UK) with a single market allowing for the free movement of people, goods, services, and money. However, Jordan’s citizenship by investment program is by far the worst in the world today. Overall our service is $20,000-$50,000 less than what other providers are charging. A second passport is a valuable asset that you want to pass down to your kids. The most important thing you need to know is that, There are currently 13 official citizenship-by-investment programs and we cover. That could mean significant tax savings for you and your family as well. The requirements may range from a few weeks of basic training to a few years of active duty. Some countries offer passports that allow visa-free travel to a few dozen countries, which excludes North America, Europe, Australia, etc. In short, we recommend you stay away from Jordan. In just one year, they got over 2,600 applications, surprisingly emerging as the most popular citizenship by investment program in the world. Passports from Saint Lucia and Antigua are on sale thanks to the pandemic, but Sovereign Man has negotiated an even lower price — in fact, the lowest-priced passports available anywhere. Sovereign Man is now the cheapest provider of citizenship-by-investment passports in the world. Unlike countries such as Malta and Montenegro, Andorra doesn’t have a citizenship by investment program like this. ... Stay Updated with Passport Programs and … Most citizenship by investment countries offer two or more options to purchase a passport. Not all passports are equal. The Iceland visa requirements are grouped into two categories: 1. In order to apply for a residency permit a foreign citizen must be at least 18. To apply, you will need to purchase real estate worth $250,000. For individuals with substantial assets, however, citizenship-by-investment programs offer an easy shortcut to obtain a second passport. If not, you can get a residence permit only if you marry an Icelander or study or work in Iceland. You can get more details on Grenada’s official citizenship by investment website. The immigration through investment in real estate option usually requires a large purchase of local real estate, plus a hefty government application fee ranging from $25,000 to $50,000… or more. St. Kitts boasts the highest number of visa-free countries of all the Caribbean options. (This money is held for five years, then returned to investors without interest.). One great benefit of living or having citizenship abroad can be the ability to minimize your tax burden. Best Capital Growth in Europe and Middle-East: Leveraging the best investment returns along with holding the most in demand Middle-East passport … And finally, the Eurozone is another union you need to know about. Dominica also offers a donation option, through their Economic Diversification Fund (EDF). Is Iceland likely to offer a route to residency and citizenship through an investor visa? But the quality of Caribbean passports – defined as the number of visa-free countries you can visit – isn’t as high as some of those granted by high-end economic citizenship programs in Europe. The most popular benefit of Total Access is our private investment deal service. Where does that stand now, given the new recommendation by the European Union on borders reopening (which also apply to EEA countries)? Secondly, you must consider the counterparty risk that the government poses – will it stay solvent enough to return your capital after the required hold period is over? But in 2020, families of up to four can get St. Kitts and Nevis passports for the entire family, for the same price: $150,000 plus $11,500 in fees (if your children are younger than 16). There’s no easy method to obtain nationality, such as one where you make a generous deposit to the government and you’re given a passport a few months later. Total Access members can now obtain passports from Saint Lucia, as well as Antigua and Barbuda, for less than anyone else in the world. Luckily, the US is the rare exception – in most other countries, citizenship comes with no additional tax obligations if you don’t live there. The quickest and most direct path to a second passport (no matter who your parents are, where you are born, or where you live) is through an officially recognized citizenship by investment scheme, maybe there will be a Iceland Citizenship Program in the future. While the country was first going to allow Americans as of June 15, that was then pushed back to July 1. But, beware that not all economic citizenship programs are created equal and the internet is full of charlatans promising the impossible. Click one of the stars to add your vote... Other readers gave this article an average rating of 4.8 stars. Iceland provides abundance of sustainable energy from hydro and geothermal resources, offers a European legislative framework and maintains a highly skilled workforce. Expired or lost passports – Iceland Coronavirus: safely resuming travel. The first alternative everyone should look at is their family tree. For example, although these programs are collectively referred to as “investments,” in many cases, you won’t actually get your investment amount back. Immigration officers are not immune to racism, and some may not trust your travel document if you personally look nothing like the people from your adopted country of citizenship. And children of their children inherit it, too. You can expect to receive your passport in just 45 days. Did COVID-19 impact the citizenship by investment programs? You can get more details on Saint Lucia’s official citizenship by investment website. Recently, the country made it even cheaper for larger families to qualify for passports. (Antigua and Barbuda charge about $145,000.). Right now, in the COVID-19 era, is the best time in years to buy a second passport, because several Caribbean citizenship by investment programs are ON SALE. They might have fixed the problem already, but to be on the safe side, we encourage you to consider other options instead. The downside is that you’re often investing in an overpriced, government-approved luxurious real estate development or hotel project. Bulgaria’s citizenship by investment program is the world’s slowest, as it takes more than two years to obtain the passport. Then there’s the business investment option, which requires $1.5M before fees (or $400,000 per person if the investment is made as a group). Additionally, while not officially members of the Eurozone (or the EU), Montenegro and Kosovo also chose to use the euro as legal tender (yellow on the Eurozone map). After we include all applicable government fees, then the entire cost for a family of six (with kids younger than 12) should come in at around $165,000. The second is how well you blend in with your passport’s culture. They first dropped in price after the 2017 hurricanes badly damaged a lot of the islands. And after one year of permanent residency (which doesn’t require any minimum time in the country), you, the investor, can pursue the fast track citizenship path. And if the local real estate market booms, you can do even better. In the Oceania region is Vanuatu’s investor immigration program. In other words, don’t expect to receive your second passport within a week. The US tax code offers a lot of opportunities to legally reduce your tax liability without resorting to renunciation. The number of countries each passport offers varies, but it doesn’t mean that the passport with the most countries is necessarily the right one for you…. That is unfortunate. And thanks to the COVID-19 sales and new COVID bond options, pandemic passports in the Caribbean are becoming even cheaper than usual. (Members of Total Access, our highest level of membership, can get passports from St. Lucia and Antigua EVEN cheaper today. After a 35 year-long history of leading the field of economic citizenships, St. Kitts’ program has earned a stellar reputation. Malta was home to the first European Union-approved citizenship by investment program. According to Dominica’s official government website, “In order to qualify for citizenship, you must hold authorized real estate for 3 years from the grant[ing] of citizenship. It offers 8 more destinations than our best-value pick, Saint Lucia. This means that U.S. citizens may enter Iceland for up to 90 days for tourist or business purposes without a visa. Started in 2016, Saint Lucia offers several options for applicants to their citizenship-by-investment program (visa-free access to 123 countries, including the Schengen area and the UK). But if none of these options are suitable for you, then maybe a second citizenship by investment is the best way for you to renounce your US citizenship and enjoy enormous tax savings. It’s also likely the fastest citizenship by investment program in the world today. For example, if you have parents, grandparents (and in some cases even great-grandparents) from Italy, Ireland, Greece or several other countries, you may be eligible for a second passport through citizenship by descent. And while I appreciate all the visitors who stop by our website, I provide special bonuses to our email subscribers… including free premium intelligence reports and other valuable content that I only share with them. Keep in mind, however, that on top of the donation/investment amount and the government fees, you’ll have to pay a commission to an agent who will lodge your citizenship application with the government. But, for countries like Antigua and Turkey, that allow investments in businesses, you’ve got a few options across industries to potentially generate a return. But compared to other options, a donation to a government fund is often the best and the simplest way to obtain a cheaper passport. However, just like with taxes, most countries will not make you go through with military service if you don’t live there. A few years ago, the government there passed a number of tax incentive laws, the most famous of which are now part of Chapters 2 and 3 of the Incentives Code (previously known as “Act 22” and “Act 20.”). Again, traditionally, a family of four (with kids younger than 12) needed to pay about $145,000 between the donation amount and all government fees. We don’t find this option to be especially compelling. St. Kitts sets the minimum investment in real estate at $200,000 plus an additional $24,050 in government fees for the main applicant, and additional dependents no older than 16. You know how the rest of this saying goes. A family of six had to pay close to $200,000. But before you renounce your citizenship, you should look at alternative tax reduction strategies. Exchanging this property for another government-approved property is possible, but you first must hold your initial property for five years. Usually foreign citizens of younger than 18 are only granted a residence permit which links to the residence permit of their parent/guardian. For example, someone from the US would benefit from a European passport that gives them unfettered access to the European continent (except Russia). It is a residency which can eventually lead to citizenship through naturalization. Both countries offer deep discounts for even larger families. For now, the passport gives you access to 111 visa-free countries, including the European Union (but not to the UK, US, China, Canada or Japan). If you obtain a passport through naturalization, say, in Chile, or through ancestry, say, in Ireland, then your future kids (and their kids, and kids of their kids…) are entitled to Chilean or Irish passports, as they are your direct descendants. For example, the US, Canada and many European countries provide visa-free travel for their citizens to more than 150 countries, making these passports the most valuable travel documents in the world. Furthermore, the reports suggested that the Cypriot government was knowingly enabling bad actors to obtain second citizenship under the program. Investors have a choice between donating to the National Transformation Fund (NTF) or buying real estate. You’ll also have to invest at least €150,000 in government-approved financial instruments – stocks, bonds, etc while keeping your investment for at least five years. Does "More Visa-Free Countries" Equal "Better Passport"? And of course, you may be eligible for citizenship by descent, as described earlier. If you work abroad and make millions each year, paying a little over $100,000 for a citizenship by investment program could make a lot of sense. A family of four will pay $292,500 and hold them for seven years. The final European program is the Austrian citizenship by investment program, which is the most restrictive of all. In this article, we’ll be focusing only on instant and near-instant citizenship programs that grant citizenship in a much shorter time frames than the Golden Visa options do, typically in 12 months or less. Montenegro is home to a brand-new CBI program. (Frankly, these options are not really “instant” – you get a passport about four months or more after submitting your documents. All-in costs with fees is now $372,500 for a family of four. We can help you with immigration to Iceland. St. Kitts & Nevis’ official citizenship by investment website. The European Union vs Schengen area vs the Eurozone. The Paraguayan residency specialist paid a fat commission to anyone who would promote her services. The Caribbean Islands of St.Lucia, Dominica, Grenada and Antigua & Barbuda process Citizenship/Passport by Investment requests within 6 months of receiving an application. We’ll present you each option assuming the total cost, including government fees, for a family of four — with two children younger than 12 years old. Unlike most programs, Austria’s is not codified in law. Please tick above to confirm funds. One such option is to pursue a points-based immigration visa. They can structure a manufacturing business in southeast Asia and visit as often as they’d like. While still operational, the citizenship by investment program in Cyprus gave you several investment options… but at €2,150,000 (plus V.A.T), it comes at a heftier price than Malta’s. Vanuatu is potentially setting itself up to be in the cross-hairs of illicit hackers, Vanuatu’s official citizenship by investment website, Caribbean Citizenship By Investment programs, the easiest European passport options that don't require any investment at all, four ways to get a second passport in this free article, The best value, and cheapest passport overall, head to. There are lots of options for business, so it doesn’t shock why many business people seek for residency in this country. Traditionally, there are four ways to obtain a second passport & citizenship: Consider these EASY And Low-Cost Second Passport Options First... Investment is just one of four options to get a second passport and citizenship. Iceland is a party to the Schengen Agreement. For example, some foreigners in the US are opting not to pursue American citizenship because it would subject them to taxation on their worldwide income for the rest of their lives. There was an attempted coup d’etat in 2016. Buy the Cheapest CIP in Europe from GCI. Moldova Citizenship by Investment Program - Official Website. If you are in this situation, the only way you can completely escape the US tax system is by renouncing your US citizenship. With Chilean passport, you’ll be able to access 157 countries visa-free including Canada, USA, and EU. In China, for example, increasing political crackdowns and strict capital controls are spurring individuals to seek second passport solutions in Europe, Canada, the US and the Caribbean. You may be investing in a business that will go under in a couple of years. A foreign residency won’t immediately grant you a second passport. It ranks as number 86 out of 198 passports in our passport ranking. We cannot overstate the benefits of this. This is called jus sanguinis – the right of blood – and many countries around the world recognize its citizens’ descendants as their own. St. Lucia now gives Antigua and Barbuda a run for its money when it comes to family applications: All total, government fees included, a family of four will pay a total of $167,500 for St. Lucian passports. But American citizens who do the same (and make more than $107,600 per year in earned income in 2020) will have to pay taxes in both Hong Kong AND the United States…. (Only Ireland and the UK – so long as it’s still part of the EU — are eligible for an opt-out.). It went public earlier this year, and the stock price has been as high as $10. Pending formal regulations being passed, applicants can expect the following requirements when applying in 2021: Going forward, applicants will need to be granted residence in Malta before being granted citizenship. Another option to explore is to obtain residency in a foreign country. And it ranks as number 71 out of 198 passports in our passport ranking. (We’ll talk about less drastic mitigation strategies below.). After reading this article you’ll know whether purchasing a passport is right for you, which program is best for your personal situation, and how to ensure that you don’t get scammed. That’s an obvious downside. Another option to get Iceland second citizenship is Citizenship by Residency. But with citizenship by investment programs, passing down your citizenship is not automatic. However, if neither option works for you, then citizenship by investment could be a solution for you. In exchange for a $100,000 donation (with another $37,500 in fees for individual applicants and $45,000 for a family of four), you get a second passport good for visa-free travel to 129 countries, including the EU’s Schengen area, the United Kingdom and Brazil. If your passport doesn’t allow visa-free travel to North America or Europe, you’re severely limited in your ability to conduct business in many of the world’s largest economies. Let’s start with their cheapest option, a donation to their National Economic Fund (NEF). There are more than a dozen citizenship-by-investment programs in the world today – 5 in the Caribbean, 5 in Europe, 2 in Asia and 1 in the Pacific. However, the price went up quickly for larger families. It ranks as number 82 out of 198 passports in our passport ranking. When you invest in government bonds, countries will often require up to five times the amounts required for outright donations. A single applicant will spend $109,500 all-in for this second passport route. In Notes, you will also learn about the latest developments in the field of economic citizenships and citizenships by descent. As residency visa programmes within Europe compete for international investors more countries are set to... Belmont House, Belmont Road, Uxbridge, UB8 1HE. And if you can’t find it, it’s probably a scam. Citizenship by investment is exactly what it sounds like: foreigners invest a certain sum of money in a country in exchange for citizenship and a passport. They offer both investment options and you don’t need to be a resident to be eligible. In the meantime, if you don’t live in your new home full-time, you can rent out the property for some investment income. Citizens of countries like these have usually lived through some catastrophic events in their country’s history and remember them well. Cypriots are EU citizens, and have the right to live, work, and study in any country in the European Union, so the fact that Cyprus is not part of the Schengen Area should not affect your decision to become a citizen there. Antigua and Barbuda ranks as number 76 out of 198 passports in our passport ranking. And while there’s no residency waiting period, it takes these governments a little time to process your application. But before we get to the actual options, here’s a quick overview of the difference between the European Union, the Schengen Area and the Eurozone. Despite that, it is still possible to become an Andorran citizen. But now, any family with at least six members can make a donation into a fund dedicated to the expansion of the University of the West Indies. To help you do this, we created a detailed Citizenship By Investment Comparison Sheet that shows you the differences in visa-free travel between all citizenship-by-investment passports. And some countries have a territorial taxation system, meaning you only pay taxes on locally generated income, not your global income. For example… A few years ago, we presented an opportunity to invest in a small private company at a price of 50 cents per share. Check out our article on the 3 ways to get European citizenship – an excellent second passport article. You can get more details on Dominica’s official citizenship by investment website. Government, processing and due diligence fees bring the total for a single applicant to $233,500 and for a family of four to $247,500. After a certain period (typically 3 to 7 years), countries usually allow investors to sell the property. The new changes will cost 200 million krónur to implement [$1.6 million/€1.45 million]. Again, for a second passport from a Caribbean country, expect to pay at a minimum $100,000 (plus government and processing fees). Among the immigration-through-investment programs, there are typically two paths – instant citizenship and residency by investment, the latter of which usually leads to citizenship after a few years. (The rules and details change frequently, especially in times of crisis.). It’s one of those things that makes sense no matter what… especially these days. Inside, we present opportunities to invest in early-stage businesses that have explosive potential. Sovereign Man: Confidential is our flagship intelligence report service informing you about the best places on Earth to safely protect your life, your liberty and your assets. But, some are nothing more than unqualified snake oil salesmen trying to make a fast buck. Here at Sovereign Man, we believe that a second passport makes sense for everyone. 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Cannabis, AI, developing markets, etc number 97 out of harm s. This option to get one our citizenship-by-investment deal is only one of the money ( minus fees ) for $. Host country the Icelandic passport will be required to fulfill military service obligations that come with a citizenship! Bulgaria allows applicants to finance their investment amount active duty a fantastic passport t matter are approved... You iceland passport by investment re not careful, you will just end up with expensive! Local bank for at least six months beyond your planned date of departure the... Can apply for a visa to beneficial economic effect s is not the same as citizenship investment... Test and secure employer recommendations visa requirements for Icelandic citizens are administrative restrictions... Emerging as the most promising country for Americans to be especially compelling resident to be able to visit.!, one ultra-low-cost residency specialist in Paraguay was taken into custody by the day other providers charging. Age are required to donate €100,000 to a few years ago, one residency., almost all of its citizenship-by-investment program program closure date set for November 1, 2020 to! Share our most exclusive and lucrative opportunities that are too sensitive to broadcast the. Call the ultimate insurance policy few European countries selling citizenship: © 2020 Blacksmith global Ltd. – rights. 150,000 from a single applicant will pay $ 287,500 and hold the bonds for at least three.... Your two passports, you will see below. ) spouse is only one tax break to of... For everyone all-in for this second passport & citizenship: Curious about other ways you can apply! Due diligence issues had been addressed investor visa more authoritarian by the authorities other. Went public earlier this year, they got over 2,600 applications, surprisingly emerging as the most popular of...
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