The Ultimate Guide: Citizenship by Investment for Businessmen
Having a second passport is a rising trend nowadays. According to the latest research in the Attitudes Survey, 34% of high net worth investors have obtained dual citizenship. A second passport brings stability, freedom, and business opportunities worldwide. And one of the best ways to get one is through citizenship by investment programs.
This guide will walk you through the process of getting a second passport through investment. There are many benefits of owning such a passport, so let’s get to it.
Research The Programs
Before starting with the application process, you must choose the country where to apply and obtain a second passport. The most common pathways are one of two options: either you can apply for citizenship in a European country, or obtain a passport from the Caribbean countries.
The European countries where you can obtain a passport are Bulgaria, Cyprus, Malta, and Austria. Montenegro implemented the CBI – Citizenship By Investment program in 2017, however, it’s still inactive.
On the other hand, 5 Caribbean countries have these types of programs: Antigua and Barbuda, St. Kitts and Nevis, St. Lucia, Grenada, and Dominica.
Furthermore, you can obtain the Vanuatu passport, a country in the Pacific that brings a lot of benefits to the table.
Conduct well-established research and analyze the costs for each of the programs and start the application process. You can also visit the NTL Trust site – https://www.ntltrust.com/ and learn more about the benefits of second citizenship in each country. NTL Trust is a team of professionals who will take care of the application and guide you through the journey.
Additionally, you need to research any official citizenship programs offered by the government or the national bodies. Be aware of scam entities that make offers to secure you a passport through fake family relations that do not exist. Such entities exist in Romania, Hungary, and the Czech Republic. The consequences of such fake passports include banning, deportation, fines, or prosecution due to document fraud.
Copyright: Unsplash I License: CC0 Public Domain
Choose The Type of Investment
As a business owner, you need to come to terms with the type of investment to make in the foreign country. According to the 2017 statistics, a large number of investors chose to invest in real estate. But what is the reason?
The Caribbean property is often overpriced and investors choose the option of a family of 4 application for a passport instead of a single application. The cost of real estate is more than $470,000; while as a family, the amount will range between $145,000 and $150,000. And the profit of the real estate investment will return within five years.
As a citizen acquiring a passport in a different country, you’ll be subjected to various background checks. Such checks will include criminal record background. You’ll fail to obtain a passport if you have a faulty history and fail to obtain a passport legally.
What Are The Benefits?
Every business owner needs to have certain benefits before applying for a particular investment program such as the EB-5 Immigrant Investor Program or any other similar. While there are many benefits to owning a second passport, we’ll discuss a couple of them.
Having the ability to move freely between borders is a major benefit for many investors. The business opportunities that come with a second citizenship are plenty. Whether you need to travel for a business meeting, or open an offshore office, not needing a visa makes it easier to jet between countries.
With the latest political and economic instability, many investors turned to dual citizenship. It provides peace of mind and personal financial security and stability in case of civil unrest. And if you are looking for a better future for yourself or your family, a second passport is the real deal.
You can expand your business margins and reach potential customers outside your country’s borders. There are plenty of business opportunities waiting for your unique business value and industry.
When you compare the European countries, Australia, Singapore or Canada, there’s not much difference where you can use their passports. Truly, the difference is in the number of countries you can travel to visa-free. However, when you apply for a second passport, you need to look beyond the visa-free traveling options.
Copyright: Unsplash I License: CC0 Public Domain
Why Should You Acquire a Second Passport?
Wealthy investors from around the world appreciate the passport benefits, and we must admit that it can be difficult for some individuals to obtain a particular passport. A second passport will give you access to tax optimization options, new employment opportunities, better healthcare and education systems, and fewer restrictions for entrepreneurs.
Interested in More Information?
We’ve elaborated further on citizenship topics on our blog, so check it out before you make a decision. It’s hard to find reliable and trustworthy information and enact the application process, so make sure you’re well informed before you dive deep into the paperwork.