Residence-Citizenship by investment programs attracts High net worth individuals in developing nations looking to add a second passport to their investment portfolio, which provides them greater mobility along with visa-free travel freedom. The Citizenship by Investment market has turned into a $2 billion industry annually along the Golden visa market is valued at $22 billion.
A residence-citizenship by investment program is the procedure to invest in another country to entitle residence. The investor is eligible to claim residence in that country and after a certain period of time can apply for permanent residence. Permanent residence in its turn, subject to certain conditions, can entitle foreign citizens to citizenship by Authority in the country that offers residence by investment. Basically, residence by investment programs go side by side with citizenship by investment programs, where eventually permanent residence also leads to citizenship, but it takes time, requires physical residence in the country for a certain period of time, and a permanent residence card.
History of CBI & RBI
The First CBI Introduced by St Kitts in 1984, passed a law offering citizenship to individuals who made a significant investment in the state. In 1986, Canada offered its groundbreaking Immigrant Investor Program. The Republic of Ireland offers naturalization and citizenship to High-net-worth individuals under a debatable program in 1988, Joining the CBI Club United States launched its EB-5 visa for immigrant investors in 1990.
Dominica joined as the second Caribbean country to offer citizenship for investors with the launch of the Economic Citizenship Program in 1993. The United Kingdom started a migration route for investors by introducing a visa scheme for high-net-worth individuals investing a minimum of £1 million in 1994.
1996 was the year when Grenada made changes to its Citizenship Act to allow citizenship by investment for Investors. New Zealand offered Investor option Category to business immigration policy, restructuring the immigration for high-net-worth individuals making high investments in 1999.
Hong Kong launches Capital Investment Entrant Scheme in 2003 followed by Singapore's Financial Investor Scheme for Permanent Residence in 2004. Bulgaria opened up its Investor Program for Residence and Citizenship, in 2009 which was later updated in 2013 to offer fast-track citizenship to investors. Latvia announced its Residency scheme for Real Estate investors in 2010.
Cyprus launched its new Criteria and Conditions for Foreign Investors to allow citizenship by investment. In 2011. The Residency by Investment gained more traction when Hungary, Ireland, and Portugal open residence by investment programs in 2012 followed by Antigua announcing its Citizenship by Investment Program. in 2014 many more countries joined the CIP club and the market for investment citizenship gained momentum. St Lucia and Vanuatu joined the citizenship by investment market along with Malta and Cyprus in Europe.
Turkey opens up its Citizenship by Investment (CBI) in 2016 with a US$ 1 Million Real Estate Investment later cuts US$ 250,000. Saint Lucia, the 5TH Caribbean state joined by offering a government-backed Bond Investment option. Jordon, Moldova along Montenegro announced their Citizenship by Investment Programs in 2018.
Types of Investment Require
All Citizenship by Investment (CBI) and Residency by Investment (RBI) programs involve an investment, mostly in the form of Buying Real Estate or a one-time fixed Investment to claim a second passport or permanent residency.
Top CBI Investment options
The Caribbean citizenship by investment (CBI) one of the lucrative and cheapest CBI option for individual investors and families. Picking a Caribbean CBI program like Grenada, St. Lucia, Dominica, Antigua and Barbuda or St Kitts & Nevis as the one-time, non-refundable contribution is most affordable.
Best citizenship by investment (CBI) programs for 2021 with the top Spot identified as
- Saint Lucia
The European Union (EU) RBI programs like Portugal, Spain and Greece are offering are the best options if real estate investment comes. The EU offers great real estate investment options for investors to live in or collect a rental return on before eventually reselling the property after the required holding period.
The top spots were captured by all European countries
Each program either CBI or RBI has a minimum residency requirement, with most programs having no Requirement at all. Caribbean programs, for example, do not need investors to physically visit the country before, during, or after the application procedure like Antigua, Dominica, St Kitts, Vanuatu, Grenada do not require a personal visit to get citizenship and passports Whereas EU Residency by Investment Programs impose a minimal residency requirement that must be fulfilled by duration specified.
Programs that offer full Citizenship Rights
The Countries offering Citizenship by Investment may provide full or partial citizenship rights. Turkey, Malta, St Lucia, Grenada, Montenegro is on the list of those countries which are offering all rights including the Voting Right, holding public office, and executing political activities. While Antigua, St Kitts, Vanuatu do not offer these rights.
Covid-19 effects on Investor Citizenship Schemes
Most of the countries in the world have closed borders as precautionary measures for Travel. The Travelers are required to undergo 14 days quarantine and negative PCR along with a Vaccination Certificate. To recover the economy, many countries slashed the amount for families applying for CBI. All Applications can now be applied through Online means in order to cut processing times. Personal visits waived for passport programs.
Lastly, it is important to consider the residency requirements that follow applying for CBI or RBI. This is especially important if you do not plan to relocate to or reside in the country you wish to be a citizen or resident of.