7 Tips for Choosing a Citizenship by Investment Program
Many wealthy individuals and families have become interested in obtaining an alternative home or citizenship. They enroll in such programs because of the immense benefits that come with them.
From having a luxurious property in another country to getting world-class education benefits for their kids, everybody has different goals for applying for citizenship by investment program.
With so many citizenships by investment programs available, choosing the appropriate passport for the right price can be difficult for you. It’s critical that you don’t go overboard with your spending and pay for what you require.
1. Price
For most people applying for citizenship through investment schemes, the essential factor is price. It could be that the most expensive passport might not be the best for you. It would help if you struck a balance between the cost of the passport and the benefits it provides. Always choose the best option for yourself and your loved ones.
It would help if you chose the citizenship by investment program that provides the best value for money. You should also keep in mind that as your family grows, so will your costs, and therefore opting for the most expensive programs can prove to be problematic in the long run. Currently, Malta and Bulgaria offer the most costly programs globally.
2. Application Processing Time
A large number of people have inquired about citizenship programs with simple applications and quick turnaround times.
Allow 3-4 months for processing and apply as soon as possible. Organizing the certification of documents such as police certificates, medical certificates, birth certificates, and so on is the most challenging step and takes longer to process.
The application processing time in St. Kitts and Nevis is easy and quick. The application processing period is relatively brief, taking only 60 days on average.
If you want the quickest program, we recommend St. Kitts and Nevis, where the entire process can be completed in as little as 60 days. All Caribbean passport schemes take at least three to four months to complete. To know morei, visit https://imperiallegal.com/st-kitts-nevis-citizenship/.
3. The Power of a Passport
The ability of a passport to travel to numerous countries without requiring a visa, particularly the world’s most important six big countries, is similarly vital.
Another thing to keep in mind is that you should get a passport that allows you visa-free entry to the countries you usually travel to. Applying for a Montenegrin or Moldovan passport would not make sense if you had business ties, family, or children studying in the United Kingdom.
You should also be able to detect slight differences when using citizenship by investment passport to gain visa-free access. As an example, a Turkish passport is a great way to travel to Japan or South Korea.
It is also necessary to consider visa-free travel to 61 territories (dependent colonies) throughout the world. Some are colonies of the United Kingdom, France, and the Netherlands. As a result, obtaining their passport would make more sense.
You might choose to visit British colonies like Bermuda, the Cayman Islands, the British Virgin Islands, or US colonies like the US Virgin Islands. A Dutch territory worth highlighting is Sint Maarten. The beauty of these wealthiest islands attracts many rich millionaires who visit these regions for holidays.
4. Validity of Passports
When applying for citizenship by investment programs, passport validity is a critical factor to consider. Some countries provide passports that are valid for five or ten years. Most people choose passports with a ten-year validity because they want to avoid the trouble of having to renew their passports frequently.
Note that passports in Antigua, St. Lucia, and Grenada are valid for five years. All other passports have a ten-year validity period. Antigua is an exception; when you renew your passport for the first time, the validity is extended to ten years.
5. E-2 Visas
Citizenship by investment programs provides access to E-2 investor visas, which is a significant benefit. Only seven CBI countries have signed an E-2 treaty investor agreement with the US. This benefit is not available in any other Citizenship by Investment program.
E-2 visas are a less expensive alternative to EB-5 visas in terms of processing time and expenditure. Because certain nations, like China, Vietnam, Nigeria, and Russia, do not have a direct E-2 treaty with the United States, citizens from these countries can use CBI programs as a backdoor into the United States. Remember that E-2 visas are non-immigrant visas that anyone can apply for, including family members.
6. No Personal Visit Requirements
Individuals find citizenship programs with no personal visit requirements for passports to be far more appealing and desirable. Imagine you live in the United Arab Emirates, and the Caribbean or Vanuatu is still a long-distance away. You don’t want to spend thousands of dollars on flights to bring your family there simply to get a passport. It is implausible, especially given the world’s current coronavirus outbreak. As a result, securing citizenship without any personal requirements can significantly impact your decision to invest in a scheme.
7. Health and Education
Malta, Cyprus, and Bulgaria, in particular, are outstanding in terms of education and healthcare. These countries also have a low rate of crime and a high level of safety. Moldova and Montenegro are making progress toward European norms, but there is still a long way to go.
Crime is still a problem throughout the Caribbean, but healthcare is still reasonably priced. They also have several excellent universities, such as Grenada’s St. George Medical University and Antigua’s newly opened University of the West Indies (UWI) campus. Antigua and Barbuda have introduced a citizenship-by-investment option through the UWI fund.
Only think about it if you wish to relocate and live in the country. If you only need a passport for travel, you may probably skip this point.
Conclusion
Citizenship by investment programs offers wealthy families an excellent opportunity to become dual citizens through investment. Dual citizens have the advantage of being able to travel with multiple passports. A passport grants many people a new identity and life, making them influential global citizens. Citizenship through investment programs can open up a world without borders for you!
