Economic Citizenship

 

What is Economic Citizenship?

Economic citizenship refers to the legal process where an individual or family acquire second citizenship or permanent residence in a country in return for a specified financial investment in the nation. Many countries around the world operate economic citizenship programs, also known as citizenship by investment programmes, as a means to attract direct foreign investment to their country.

When it comes to generating economic growth, the benefits of economic migration are undeniable. As a result, dozens of countries have implemented immigration policies and laws designed to attract wealthy individuals. In today's mobile global economy, however, many high net worth individuals (HNWI) reside and conduct business at an international level. Consequently, for many of these "global citizens," investment immigration programs that include a mandatory physical residency requirement are simply not feasible.

In an effort to appeal to these international entrepreneurs, a small number of countries have implemented citizenship by investment programs that offer expedited second citizenship through naturalization without any substantive physical presence requirement. These economic citizenship programs are structured to incentivize foreign direct investment by businessmen and businesswomen operating at a global level and are typically run in a legal and transparent manner according to local laws.

Benefits of Economic Citizenship

Obtaining a powerful second passport through a reputable economic citizenship program can provide business professionals with unparalleled freedom to travel as well as increased political and economic diversification. Citizenship through investment in the right jurisdiction can improve a person's financial security and yield strategic tax planning opportunities, and can even allow an individual or family to hedge against geopolitical risk or quickly escape from unstable regions. To help people make well-informed decisions when evaluating available international citizenship options, we have listed below highly distinguished economic citizenship programs for 2022.

Top Economic Citizenship Countries 2022

The following countries offer reputable citizenship by investment programs:

●       Antigua and Barbuda

●       Cyprus

●       Dominica

●       Grenada

●       Malta

●       St Kitts and Nevis

●       St Lucia

When evaluating citizenship by investment countries to identify the best economic citizenship program for you, it is important to factor in reputational considerations. Many investors compare the legal and regulatory framework of jurisdictions they are considering, the current strength of each country's passport, as well as the various investment requirements, but can often overlook the estimated long-term value of each passport. In general, economic citizenship programs that perform stringent due diligence on all applicants are less likely to ever lose visa-free access to influential regions such as the European Union. On the other hand, countries that appear to accept almost anyone with enough money (whether or not this is actually the case) risk upsetting the international community which can damage the future power of their passport.

St Kitts and Nevis Economic Citizenship Program

Established: 1984

Processing time: 8-12 months

Passport: visa-free or visa on arrival access to 133 countries including UK, Switzerland, entire EU, Russia, Brazil, India, South Korea, Turkey, Singapore, and Hong Kong

Economic citizenship by financial contribution: non-refundable donation to the St Kitts and Nevis Sustainable Growth Fund (SGF).

Solo applicant - $150,000

Main applicant, spouse, and up to 2 dependents - $150,000

Additional dependents - $10,000 each

Economic citizenship by real estate investment: at least $200,000 investment into approved St Kitts real estate (7 years) as well as government processing fees.

Main applicant - $35,050

Spouse - $20,050

Dependent children, parents & grandparents - $10,050 each

Residency requirement: none

Dominica Economic Citizenship Program

Established: 1993

Processing time: 4-6 months

Passport: visa-free or visa on arrival access to 119 countries including UK, Switzerland, entire EU, Russia, Brazil, India, South Korea, Turkey, Singapore, and Hong Kong

Economic citizenship by financial contribution: non-refundable donation to the Dominica Economic Diversification Fund (EDF).

Solo applicant - $100,000

Main applicant and spouse - $150,000

Main applicant, spouse, and up to 2 children - $175,000

Additional dependents - $25,000 each

Eligible siblings 18 to 25 - $50,000 each

Economic citizenship by real estate investment: at least $200,000 investment into approved Dominica real estate (3 years) as well as government processing fees.

Main applicant - $25,000

Spouse - $10,000

Family of up to 4 - $35,000

Family of up to 6 - $50,000

Family of 7 or more - $70,000

Eligible siblings 18 to 25 - $50,000 each

Residency requirement: none

Antigua and Barbuda Economic Citizenship Program

Established: 2012

Processing time: 4-6 months

Passport: visa-free or visa on arrival access to 132 countries including UK, Switzerland, entire EU, Brazil, India, South Korea, Turkey, South Africa, Singapore, and Hong Kong

Economic citizenship by financial contribution: non-refundable donation to the Antigua and Barbuda National Development Fund (NDF).

Solo applicant - $100,000

Family of 4 or less - $100,000

Family of 5 or more - $125,000

Economic citizenship by real estate investment: at least $200,000 investment into approved Antigua real estate (5 years)

Economic citizenship by establishing business: investment of at least $1,500,000 into eligible local business

Government processing fees:

Solo applicant - $30,000

Family of 4 or less - $30,000

Family of 5 or more - $30,000 for family of 4 plus $15,000 per additional dependent

Residency requirement: none

Cyprus Economic Citizenship Program

Established: 2011

Processing time: 2-3 months

Passport: visa-free or visa on arrival entry to 157 countries including Canada, Australia, UAE, Japan, UK, Switzerland, entire EU, Brazil, India, Mexico, South Korea, Turkey, South Africa, Singapore, and Hong Kong

Economic citizenship by investment: purchase of permanent residence in Cyprus for at least €500,000 + VAT, donation of €75,000 to local foundation and €75,000 to affordable housing, plus one of the following fully recoverable investments (5 years).

●       Investment of at least €2,000,000 in Cyprus Government Bonds

●       Purchase or creation of a Cyprus-based company for least €2,000,000 (5 employees)

●       Investment of at least €1,500,000 in residential real estate in Cyprus

●       Investment of at least €2 million in commercial real estate in Cyprus

Residency requirement: none

Grenada Economic Citizenship Program

Established: 2013

Processing time: 2-3 months

Passport: visa-free or visa on arrival entry to 127 countries including China, UAE, UK, Switzerland, entire EU, Russia, Brazil, India, South Korea, Turkey, Singapore, and Hong Kong. Also eligible for USA E-2 Visa.

Economic citizenship by financial contribution: non-refundable donation to the Grenada National Transformation Fund (NTF).

Solo applicant - $150,000

Main applicant and spouse - $200,000

Main applicant, spouse, and up to 2 children - $200,000

Additional dependents - $25,000 each

Eligible siblings - $75,000 each

Economic citizenship by real estate investment: at least $220,000 investment into approved Grenada real estate (4 years) as well as government processing fees.

Solo applicant - $50,000

Main applicant and spouse - $50,000

Main applicant, spouse, and up to 2 children - $50,000

Additional dependents - $25,000 each

Eligible siblings - $75,000 each

Residency requirement: none

Malta Economic Citizenship Program

Established: 2014

Processing time: 6-12 months

Passport: visa-free or visa on arrival entry to 162 countries including United States (USA), Canada, Australia, UAE, Japan, UK, Switzerland, entire EU, Brazil, India, Mexico, South Korea, Turkey, South Africa, Singapore, and Hong Kong

Economic citizenship by investment: purchase of Malta real estate for at least €700,000 or lease of apartment for at least €16,000 annually (5 years), donation to local charity of at least €10,000, plus non-refundable investment.

Main applicant - €600,000 (36 month residency) or €750,000 (12 month residency)

Spouse - €50,000

Each dependant - €50,000

Residency requirement: genuine link with Malta (retaining a local residence combined with a visit to the country)

St Lucia Economic Citizenship Program

Established: 2015

Processing time: 2-3 months

Passport: visa-free or visa on arrival entry to 128 countries including UK, Switzerland, entire EU, India, South Korea, Turkey, Singapore, and Hong Kong

Economic citizenship by financial contribution: non-refundable donation to the National Economic Fund (NEF).

Solo applicant - $100,000

Main applicant and spouse - $140,000

Main applicant, spouse, and up to 2 dependents - $150,000

Additional dependents - $15,000 each

Economic citizenship by real estate investment: at least $300,000 investment into approved Saint Lucia real estate (5 years) as well as government processing fees.

Main applicant - $50,000

Spouse - $35,000

Children under 18 - $25,000 each

Dependent children 18 to 25 - $35,000 each

Dependent parents & grandparents - $35,000 each

Economic citizenship by business investment: at least $3.5 million investment into approved enterprise project that creates a minimum of three full-time jobs, as well as government processing fees.

Main applicant - $50,000

Spouse - $35,000

Children under 18 - $25,000 each

Dependent children 18 to 25 - $35,000 each

Dependent parents & grandparents - $35,000 each

Residency requirement: none

 

Why choose CS Global Partners?

An experienced Government advisory firm can assist people interested in legally obtaining a second passport in several ways. Firstly, they can help identify the best citizenship by investment program for an individual and their family, based on their exact situation. When evaluating economic citizenship countries, there is more to be considered than just the program’s investment criteria:

-       Can eligible real estate be resold under the program?

-       How long does the investor need to maintain ownership of the property?

-       Do approved real estate projects in the country offer freehold units for sale, or just shares in the development?

-       Is financing permitted and available?

-       Does the jurisdiction allow you to include adult children, siblings, or parents in your citizenship application?

-       How many economic passports has the country issued in the last decade?

-       Are processing fees discounted for applicants making a donation instead of buying real estate?

-       Does the nation's passport provide visa-free access to the countries you primarily wish to travel to?

-       Are there any restrictions that could prevent you from applying to the program, such as the exclusion of citizens of certain countries?

Once you have decided on the ideal economic citizenship program, our experts can represent you throughout the entire citizenship procurement process. Our firm can perform due diligence, complete necessary applications forms, and ensure you have all the correct supporting documentation required by the program. We can also negotiate with property developers, handle official government communication on your behalf, review necessary financial agreements before you sign them, and represent your best interests while working alongside a local agent in that country.

Contact us today for a consultation.