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Free Guide to Citizenship byInvestmentPublished December 4,
2020
We give you important tips and advice on what to look for in a
passportfrom the best experts working in the field. Take a look
below on theultimate guide to citizenship by investment (CBI)
programs.
This is a Free Guide to Citizenship by investment programs with
lot ofdownloadable resources to make your decision. We give away
all this forFREE!
Table of Contents
What is Citizenship by Investment?How BIG is the Citizenship by
investment industry?Top 10 Citizenship By Investment
ProgramsHistory of Economic Citizenship programsWhy Second
passports are hugely popular?Which countries offer Citizenship by
investment?What investment options available for Citizenship by
investment?What is the difference between Citizenship vs
Residency?Why you not confuse Citizenship with Golden Visas?How to
protect yourself from passport scams?What to look for when buying a
passport?How much it would cost to BUY a passport?Why prices of CBI
programs dropped in 2017?How important are visa waivers?What you
should know about EU citizenship?Common Myths DebunkedCan stateless
people apply for citizenship by investment?
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Best Citizenship by Investment
ProgramsGrenadaVanuatuDominicaSaint LuciaTurkeySt Kitts and
NevisAntigua and BarbudaCyprusMontenegroMalta
What You should Know about Due Diligence?What about Taxes with
Citizenship by investment?Why invest in Real estate for
citizenship?Bitcoin and CryptocurrenciesWhy is Dual Citizenship
important?How to use your dual passports for travel?Benefits of
Commonwealth citizenshipEmbassies and ConsulatesWhat you should
know about Agents?How to prepare the documents?Citizenship by
Investment UnitsFAQsAbbreviations
What is Citizenship by Investment?
Citizenship by investment (CBI) is the process by which
investors aregiven fast tracked citizenship within months in
exchange for investmentsin the country (eg. Donation to state, Real
estate, buying state debt etc).
The established CIP legislation requires all applicants
including familymembers are required to pass strict background
checks including
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AML/KYC checks before being issued of passports.
Every country has established its own regulations. Some
countries evendont require a physical visit, considering many CBI
economic citizens,actually live in diaspora and do not immigrate
physically to the secondcountry.
CBI schemes are common referred as “Economic citizenship”
inAmericas , “Investor Citizenship” in Europe by the European
commission.The news and media outlets call “Golden passports”, as
many wealthyindividuals have acquired second passports by
investing.
How BIG is the Citizenship by investmentindustry?
Citizenship by investment is estimated by industry experts to be
worth$5 billion annually with Cyprus receiving good chunk of
investments. By2025, the demand for investment passports are
projected to double.
CBI Annual investments by country/region in Billions of US
dollars
Revenues from Citizenship by Investment (CBI)
The Revenues from Citizenship by investment schemes has amassed
atotal of $15 billion until so far, according to our calculations
we did fromvarious financial and news reports.
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Top 5 countries with highest CBI Revenues, according to our
calculations. Please note official figures is not
published by some countries in the Caribbean.
The three Biggest CBI schemes are
1. Cyprus2. Turkey3. St Kitts and Nevis
*Latest approximate unofficial estimates of CBI revenues
generated frompassport sales until 2019
CBI Revenues*
Antigua $287 million
Dominica $675 million
Grenada $170 million
Saint Lucia $37.2 million
St Kitts Nevis $1.75 billion
Turkey $2.7 billion
Malta €1.2 billion
Cyprus €9.6 billion’
Vanuatu $230 million
Montenegro €1.75 million
Moldova €0.5 million
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These surplus CBI revenues were used by Governments to reduce
debt,disaster recovery funds, hospitals, schools, public
infrastructure, housingand pensions for the local population.
Top 10 Citizenship By Investment Programs
We published a study on best citizenship by investment
programsassessing 37 important factors considered by clients before
investing in apassport. We designed a PBS scoring model to score
points and rankbest CBI programs. Here is what we found
Source: Best Citizenship By Investment Rankings for 2021 –
Best-citizenships.com
https://best-citizenships.com/2020/12/14/best-citizenship-by-investment-rankings-for-2021/
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History of Economic Citizenship Programs
The Economic Citizenship by Investment programs have been around
formore than 40 years, they rose to popularity in the 1980’s when a
numberof small caribbean and pacific countries selling passports
for $50,000.Most of these schemes were dismantled after 2001 due to
securityconcerns at that time. It was not until a decade by 2010,
the St Kitts andDominica programs quickly rose to popularity. At
that time the priceswere still high, St Kitts was selling a
passport for $250,000 and Dominicapassport was only $75,000 (before
securing schengen visa waiver) .
Not long ago Comoros passport program was popular remained
thecheapest citizenship by investment for $50,000. The program was
closedcouple of year ago.
Ireland did sell passports for 1 million euros in the 1990’s but
the schemewas closed after backlash. Ireland joined European Union
in 1999.
Cyprus was the first EU country to install the citizenship for
investmentscheme in 2007. Later joined by Bulgaria in 2010 and then
Malta in 2014.
History of Economic Citizenship [Infographic]Download
Do you know?The Two European states Moldova and Montenegro
launched citizenshipfor sale schemes in 2018. Note that these
countries are not part ofEuropean Union only part of Europe
How much it costs to buy a passport?
Please see below the latest prices of the citizenship and
passport byinvestment (CPBI) schemes. Prices start from
$100,000
https://cbicitizen.com/wp-content/uploads/2020/03/history.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/history.pdf
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Note:*: Applicants must pay additional fee such as agent fee,
due diligence fee, application fee.
Montenegro requires Investment ($300K) + Donation ($110K).
Vanuatu has no real estate option. Moldova is
suspended until Q3 2020
Why second passports are hugely popular?
A passport, is must in the wealth management portfolio for
High-net-worth individuals. It is also considered as an insurance
policy of thetwenty first century for asset protection. These shiny
new gold standardinvestment passports have become an ultimate
luxury item – a futureinvestment for family generation.
https://cbicitizen.com/2020/03/17/expert-guide-to-vanuatu-citizenship-by-investment/
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Recent KnightFrank wealth survey reveals two out of three
HNWindividuals have already invested in a second passport, while
the rest areconsidering one.
Citizenship by investment schemes provide an an excellent
opportunityfor wealthy families to become dual citizens by
investment. Oneimportant benefit for dual citizens, is they are
allowed to carry two ormore passports.
For many a passport gives new identity and new life making you
truly aWorld Citizen. A World without borders opens up for you!
Do you Know?
A World citizen is a person who places global citizenship above
anynationalistic or local identities and relationships.
Albert Einstein described himself as a world citizen and
supported theidea throughout his life, famously saying “Nationalism
is an infantiledisease. It is the measles of mankind”
What are the Second passport benefits?
You can call a country second home, visit anytime you
wantGreater travel freedom and mobilityGet out of your country,
when there is Global crisisAccess to best healthcare and education
systems for your childrenoutside your country.Access to
international financial freedom (open bank accounts)Retirement and
to receive pensionsTodays citizenship investment will be passed to
future familygenerations.Live, work, study and do business anywhere
you want.Greatly Reduce your taxes with clever tax planning.
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Expand your business opportunities attending events,
conferences,trade shows across the globe.
Half of the US population are worried about about being a victim
ofterrorism. The threat is REAL. The State Department warns As
terroristattacks, political violence (including demonstrations),
criminal activitiesand other security incidents often take place
without any warning, U.S.citizens are strongly encouraged to
maintain a high level of vigilance andpractice good situational
awareness when traveling abroad. What canyou do about it?
A Legally acquired second passport can be used as
“camouflage”passport giving you full citizen privacy. For example,
You can hide yourUS citizen status showing a second passport
instead of US passport.
US taxes are a nightmare. No other country in the world is so
hungry forTaxes. If you are a U.S. citizen or resident alien, the
rules for filing income,estate, and gift tax returns and paying
estimated tax are generally thesame whether you are in the United
States or abroad. Your worldwideincome is subject to U.S. income
tax, regardless of where you reside
FATCA Act is another nightmare for American expats and
accidentalamericans designed to identify and collect the
appropriate tax from USPersons holding financial assets outside the
United States.
IRS has been powered to cancel passports of Americans who
holddelinquent debt above $50,000.
For these reasons, thousands of Americans renounce their
citizenshipand go in search for new life that comes with real
freedom
Which countries offer Citizenship by Investment?
As far as we know and the information we have compiled, there
are 18citizenship by investment programs in total, spread across
Asia, Europe,
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Caribbean and the Pacific.
You have to decide for yourself whether you want a passport or
justresidency.
What investment options available for citizenshipby
investment?
Citizenship by investment regulations provide 5 types of
investmentoptions to acquire immediate citizenship.
1. Lump sum Donation to State (one time)2. Real Estate
Investment ($200K or more)3. Government bonds and stocks / Treasury
securities4. Business Capital Enterprise Investment5. Bank Account
Cash deposit
Price Status Investment Time (months)
1 Austria €10m defunct States Interest 12
2 Cyprus €2m defunct Real Estate 7
3 Bulgaria €1m Active Govt Bonds 18
5 Turkey €250,000 Active Real Estate 3
6 Antigua and Barbuda $100,000 Active Donation 3
7 St Kitts and Nevis $150,000 Active Donation 3
8 Vanuatu $130,000 Active Donation 2
9 Grenada $150,000 Active Donation 3
10 Saint Lucia $100,000 Active Donation 3
11 Dominica $100,000 Active Donation 3
12 Cambodia $250,000 Unknown Donation 12
13 Samoa $1.2m Active Business 20
14 Egypt $250,000 Active Real estate 3
15 Jordan $1.5m Active Capital 12
16 Moldova €100,000 Suspended Donation 3
17 Montenegro €350,000 Active Real Estate 3
18 Comoros $50,000 Closed Donation 2
19 Malta €750,000 Active Donation 12
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The first and most popular option for most citizenship investors
is Lumpsum donation . We have seen over 80% of the clients, go
through thisroute because it easy, simple, cheap and fast.
The second most popular option with clients is real estate
investment.This option attracts more wealthy and HNW investors who
want to profitfrom real estate investment yields. You must hold on
to the property for3-5 years before selling it off in the market.
After you sell the propertyyou can still keep citizenship and
passport.
The third option is financing the government bonds. At the
moment 7 CBIprograms offer buying Government bonds or securities in
exchange forpassport. Cyprus has scrapped this option since 2019.
For example youcould finance Bulgaria €1m worth of Govt bonds only
for a total€250,000 spread over 5 years (you only pay 5% interest).
It would costeven less for Turkey and St Lucia.
Bank deposit is also an very interesting option if you want to
risks withyour liquid cash. At the moment only Turkey and two other
countries havethis option. The problem with this approach is the
amount is too high andsome nationals may also face problems opening
bank accounts.
The final option available is Business investment. This is a
great option ifyou have business background, already successful
investor and you cancreate jobs. Antigua and Saint Lucia are the
only two caribbean countriesthat award citizenship by investment to
business investors making atleast$1.5m or $5m jointly. Under the
joint investment plan, each investormaking $400K qualifies for
passport. For Turkey all you have to do iscreate 100 jobs to become
a citizen.
We compiled a nice comparison of investment options available
forcitizenship by investment program, so that you would know where
andhow much to invest.
https://cbicitizen.com/2020/03/28/guide-to-citizenship-by-real-estate-investment/
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Note: For Malta you must pay Donation + Bonds. For Montenegro
there is€100,000 fee per application above real estate
investment.
You can read our free real estate guide to citizenship by
investment
Citizenship VS Residency
Be clear to under the difference between citizenship and
residency(permanent)
Donation Real Estate Gov Bonds Bank deposit Business
Antigua $100K $200K x x $1.5m
Dominica $100K $200K x x x
Grenada $150K $200K x x x
St Kitts $150K $200K x x x
St Lucia $100K $300K $500K x $1.5M
Vanuatu $130K x x x x
Malta €650K x €150K x x
Cyprus x €2M x x €2M
Bulgaria x €500K €1M x €1M
Montenegro x €250K x x €5M
Moldova €100K €250K €250K x x
Jordan x x $1M $1M $750K
Egypt $250K $500K $750K $250K $400K
Turkey x $250K $500K $500K $500K
Benefits Citizenship Permanent Residency
What you get? Passport Visa /Residence permit
Travel Worldwide Regional (schengen area)
Price Cheap (starts $100K) Expensive (starts $250K)
Personal Visit NO YES
Citizenship Included Naturalization (slow)
Real Estate Ownership No restrictions Limited
Rent a place NO Yes
Renewals 5-10 years 2-5 years
Must live NO NO (yes if you want citizenship)
Education, Healthcare, Employment Equal rights Equal rights
Family members Immediate Immediate
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*Please seek professional advise.
Why Citizenship is so much better on the long run?
Citizenship is often so much better than residency for thousands
forreasons.
1. Cheaper than residence schemes2. Hassle free3. Application
package completed within 3 months (all family and
children get passports)4. No visit to country required (saves
you lot of money).5. Mitigate your taxes (prepare in advance)6.
Collect your passport from agent or at consulate.7. Enjoy your full
citizenship rights across the globe8. Citizenship once granted is
also passed to future generations. (you
did not waste your money, you only invested in your future
family)
Why you should not confuse Citizenship withGolden visas?
Golden visa schemes only offer permanent residency (no
instantcitizenship) buying real estate. Greece and Portugal are the
most popularones.
Secondly Citizenship schemes are much cheaper (half the price)
thangolden visas.
Prices for Golden visas start with $300,000 (in dollars) for the
most
Banking Access Yes Yes
Taxes* NO (unless you live) Yes
Rights* Full Citizen Rights Restricted (eg. No right to
vote)
Deportation No Yes
Embassy help Yes Limited
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popular program Greece
Greece – €250,000United States – $900,000Portugal –
€280,000Malta – €250,000Canada – $1.2 millionSpain – €500,000
Golden visa programs attract two types of clientele
1. Those who are not interested in second citizenship or
passport2. Nationals who come from a country where dual citizenship
is
restricted (eg. India, China etc)
If you dont want citizenship or passport, then you can go for
golden visaresidence schemes. Note that only passport is accepted
travel documentworldwide. The residence permits issued by schengen
states is not apassport so can only be used within the schengen
region.
Portugal is the best scheme of all as Portugal has less strict
requirementsto acquire EU portuguese citizenship after 5 years. It
is possible withoutliving in Portugal. You just need to spend 2
weeks yearly and pass A2language test.
We will not go into deep on golden visas in this article.
How to protect yourself from passport scams?
It is also very important you only apply for legally running and
officialprograms and you do not fall into a passport scams. Follow
these 3cardinal rules.
Rule 1: Do not buy real estate or pay full Government
contribution beforereceiving Letter of approval from the
Citizenship by Investment Unit
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(CIU) of Government. This should take 2-3 months. Most agents
will onlyask you to pay initial retainer deposit which consists of
agent fee and duediligence fee. If your application is refused you
dont need to pay thecontribution. Dont let yourself be conned!
Rule 2: You are only supposed to pay the donation or
contribution ONLYdirectly to the Government bank account. Don’t pay
to third parties.
Rule 3: Don’t invest in real estate developments that are not
approved orauthorized by Government. CIUs are required to publish
list of approvedproperty developments in their website. You wont
qualify forcitizenship/passport investing in unapproved
developments. These arelikely scams to lure investors. Governments
running CBI programs, havemoved establish escrow legislation to
protect property investors.
A Word of Advice
Don’t fall for cheap passport scams, these might involve
$10K-$15,000.You will be disappointed and lose what you bargained
for! Look for thered flags! Seek a trusted legal advisor
For example. there are no south american countries that offer
instantpassports for investments. The only way to become a citizen
is tobecome a resident and naturalize, atleast not before 3
years.
What to look for when buying a passport?
With so many CBI programs around, often it can be more confusing
toclients to pick the right passport for the right price. It is
important thatyou do not overspend and pay only what you need
for.
We will give you 10 important tips.
1. Price factor
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Price is the first most important factor for clients applying
for investmentcitizenship schemes.
The most expensive passport may not be the best passport for
you. Youhave to find the right balance between the price you pay
and thepassport benefits. Always pick the right one for you and
family. Dontoverpay for the passports.
We plotted a graph between the passport power and the prices. As
youcan see see in the graph, Cyprus, Malta and Bulgaria are the
mostexpensive passports. Look closely in the 140 mark there are
cluster ofprograms around Grenada. These are the cheap and best
passports thatare in the market. You also have to keep in mind that
the more familymembers you add, prices rise exponentially.
Passport power VS Pricing – Comparison of Citizenship by
Investment
2. Application process and time
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A significant number of clients have asked us about which
citizenshipprograms have simple application and fast processing
times.
We have always told them the same answer. Allow 3-4 months and
applyas early as possible.
We have seen applications approved in 80 days and Vanuatu has
simpleand super fast application processing times. We have seen
letter ofapprovals issued by Citizenship commission, as early 4
weeks.
If you want the fastest program, our suggestion would be
Vanuatu. Allcaribbean passport schemes takes atleast 3-4
months.
3. Passport power
The strength of a passport to visit many countries without
visas,especially to most important six BIG countries in the world
is equallyimportant.
Please note Canada and United States impose Electronic
travelauthorization (ETA) on visa waiver countries.
Visa Free United States United Kingdom Russia China EU Schengen
Canada
Malta √ √ ˣ ˣ √ √Cyprus ˣ √ ˣ ˣ √ √Bulgaria ˣ √ ˣ ˣ √ √Grenada ˣ
√ √ √ √ ˣAntigua ˣ √ √ ˣ √ ˣSaint Kitts ˣ √ √ ˣ √ ˣSaint Lucia ˣ √
ˣ √ ˣDominica ˣ √ √ ˣ √ ˣVanuatu ˣ √ √ ˣ √ ˣMontenegro ˣ ˣ √ ˣ √
ˣMoldova ˣ ˣ √ ˣ √ ˣTurkey ˣ ˣ ˣ ˣ ˣ ˣ
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Another important thing to remember for clients, they should
pick theright passport, that has visa free access to the country
they frequentlyvisit. For example if you have business ties or
family or children studyingin United Kingdom, it would not make
sense to apply for Montenegro orMoldova passport.
You should also be able to spot minor difference with visa free
accessusing CBI passport. For example. Turkish passport is an
excellentpassport to visit Japan or South Korea
e – eVisa√ Visa not requiredₓ Visa required
Which CBI passports have access to overseas territories?
There are some 61 territories (dependent colonies) in the World.
Someare British, French, Dutch and
For example you may want to travel to british colonies such as
Bermuda ,Cayman Islands, British Virgin Islands (BVI), or US
colonies such as US
South Africa Israel Japan Singapore South Korea
Antigua and Barbuda √ ₓ ₓ √ √
Bulgaria ₓ √ √ √ √
Dominica ₓ √ ₓ √ √
Grenada ₓ √ ₓ √ √
Saint Kitts and Nevis ₓ √ ₓ √ √
Saint Lucia ₓ √ ₓ √ √
Cyprus √ √ √ √ √
Turkey √ ₓ √ √ √
Malta √ √ √ √ √
Moldova ₓ √ ₓ e ₓ
Montenegro ₓ √ ₓ √ √
Vanuatu ₓ √ ₓ √ ₓ
Jordan √ ₓ ₓ ₓ ₓ
Egypt ₓ ₓ ₓ ₓ ₓ
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Virgin Islands (USVI). Sint Maarten is also worth mentioning a
Dutchterritory. These wealthiest islands are beautiful attract many
wealthymillionaires often travel to these locations for holiday
vacations.
We have compiled visa requirements for these territories for 14
CBIpassports.
CBI visa free regime to territories.pdfDownload
Disclaimer / Note : Visa requirements often change from time to
time.Please always check with your nearest embassy before travels.
Theabove information is for knowledge purpose only.
4. Passport Validity
Passport validity is a very important to consider when applying
forcitizenship by investment programs. Some countries issue
passports for5 years or 10 years.
Passports with ten year validity is more convenient to clients,
as theydont have to go through hassle of renewing passports
quickly.
Note that Antigua, St Lucia and Grenada have passport validity
of 5years. All other passports come with 10 year validity. Antigua
is a specialcase, once you renew the passport first time, the
passport validityextended to 10 years.
CBI Validity
Antigua 5 years
St Kitts 10 years
Dominica 10 years
St Lucia 5 years
Grenada 5 years
Vanuatu 10 years
Turkey 10 years
Malta 10 years
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5. E-2 Visa to enter United States
Access to E-2 investor visa is a very important benefit that
comes fromCitizenship by investment (CBI) schemes to enter US.
E-2 visas are cheaper alternative to EB-5 in terms of processing
speedand cheaper investment. Certain countries such as China,
Vietnam,Nigeria, Russia do not have E-2 treaty direct with US, so
citizens fromthese countries can take advantage of CBI schemes as
backdoor entry toUS. Remember E-2 visas are non-immigrant visas and
even familymembers can apply.
Here are some of the important difference between E-2 and EB-5
visas.
Cyprus 10 years
Bulgaria 10 years
Moldova 10 years
Montenegro 10 years
E-2 EB-5
Visa Category Non-immmigrant Immigrant Visa
Min. Investment $100,000 – $200,000 $900,000 to $1.8 million
Visa validity 2-5 years Temporary Green card (2 years)
Green card No Yes
Job creation 5 jobs 10 jobs
Waiting time 3 weeks 2-15 years
Citizenship No Yes
Residence conditions None Must move and live in US. Not absent
for 6 months per year
Quota none 10,000 annual limit
Working Full time Director
Work permit Spouse only Spouse and children < 21
Application paperwork Easy Complicated / Strict rules
Who can apply? E-2 treaty countries No restrictions
Taxes on Worldwide income* May be Yes
Visa fee $205 $3,675 (I-526 petition)
Legal costs $10,000 to $20,000 $50,000 to $100,000
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*Please seek professional tax advise before your immigrate to
US.
There are only 7 CBI countries that have E-2 treaty investor
signed withUnited States. All other Citizenship by investment
programs (CIP) do notoffer this benefit
MontenegroTurkeyBulgariaGrenadaMoldovaEgyptJordan
6. Right to Vote
The Citizenship by Investment Regulations of
Antigua,St Kitts and Nevis,Vanuatu
do not permit right to vote to CBI citizens.
All other countries offer voting rights and even holding
governmentpositions and holding public offices and entering
politics.
St Lucia, Grenada are the most complete CBI programs in the
Caribbean.
7. Citizenship transferable to Generations
These citizenship by investment programs allow transferring
citizenshiprights upto three family generations only.
Dominica
https://travel.state.gov/content/travel/en/us-visas/visa-information-resources/fees/treaty.html
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St LuciaSt Kitts and NevisVanuatu
Except these four programs, all other CBI programs offer full
lifetimecitizenship.
8. No personal visit
Citizenship Programs that have no personal visit requirements
forpassports are much more attractive and desirable to clients.
Imagine you live in UAE, the Caribbean or Vanuatu is still far
way and youdont want to spend thousands of dollars in flight
bookings to take yourfamily just for a passport. This is
unrealistic, especially the world isreeling with the outbreak of
coronavirus. It is really not a good time totravel during disease
outbreaks.
Except 5 CBI programs, all other countries require a personal
visit atleastonce
9. No Residence conditions
CBI Validity
Antigua 5 years
St Kitts 10 years
Dominica 10 years
St Lucia 5 years
Grenada 5 years
Vanuatu 10 years
Turkey 10 years
Malta 10 years
Cyprus 10 years
Bulgaria 10 years
Moldova 10 years
Montenegro 10 years
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Citizenship by investment programs that have zero or no
residenceconditions are more attractive to many clients.
All countries (except caribbean and vanuatu) issue residence
permitsbefore issuing naturalization certificate under CBI.
*Antigua imposes 5 day residence requirement when you renew
yourpassport after 5 years. If you dont visit Antigua, your
passport will becanceled. For Turkey, formalities can be completed
by issuing Power ofAttorney
10. Healthcare / Education / Safety
European countries are superb when it comes to education
andhealthcare, especially Malta, Cyprus and Bulgaria. These
countries alsohave low crime rate and high safety rankings. Moldova
and Montenegroare okay catching up to european standards but they
have a long way togo.
Caribbean countries still struggle with crime and do offer
affordablehealthcare. They also have some nice universities eg. St
George Medical
CBI Residence
Antigua 5 days*
Dominica None
Grenada None
Saint Lucia None
St Kitts None
Turkey none
Vanuatu None
Malta 12 months
Cyprus 6 months
Montenegro None
Egypt None
Jordan None
Bulgaria 24 months
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University in Grenada and the newly opened University of West
Indiescampus at Antigua.
You should only consider this if you want to move and live the
country. Ifyou just want a passport for mobility, probably you can
ignore these.
11. Quotas
You must also seriously consider limited quotas with citizenship
byinvestment schemes. This is because once the quota reaches the
limit,the schemes wont reopen again and you missed the opportunity
toacquire citizenship through investments.
These are limits currently imposed on certain CBI schemes.
TheCaribbean passport schemes do not have any limits
12. Tourist arrivals
Tourist arrivals is an important indicator on the attractiveness
of countryto apply for citizenship.
Tourism plays an important role in driving revenues, economic
growthand prices in the real estate market. You may want to
consider this datawhen investing in hotels and resorts.
Malta Total quota 1500 (New)
Montenegro Total quota 2000 (expires in 2022)
Vanuatu No limits
Turkey no limits
Cyprus 700 per year
Moldova 5000 (total quota)
Jordan 500 per year
Caribbean No limits
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Tourist arrivals in countries running citizenship by investment
programs for 2018 – Source: World Bank Data
Source: World Bank Data 2018
How much it would cost to BUY a passport?
These are some of the rough estimates on how much it would cost
to buya passport under citizenship by investment programs.
CBI Tourist Arrivals (2018)
Bulgaria 9,273,000
Cyprus 3,939,000
Malta 2,599,000
St. Kitts and Nevis 125,000
Antigua and Barbuda 269,000
St. Lucia 395,000
Turkey 45,768,000
Grenada 185,000
Vanuatu 116,000
Egypt 11,196,000
Jordan 4,150,000
Dominica 63,000
Montenegro 2,077,000
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Please expect accredited Agents charge you upto $20,000 (not
added inthe list below) per application. It depends on whether you
are applyingsingle or group as family.
Note:
– Above prices are the cheapest options calculated. There can be
no lessthan this. – Turkey, Montenegro, Cyprus ONLY offer real
estate option since there isno donation. – Montenegro Government
requires 100,000 fee per application. – Real estate option not
included in the above prices for Caribbean. Thisroute costs more–
Bulgaria financing option for Government bonds.
How do family members influence passport prices?
Family members have a BIG impact on the prices of CBI schemes.
Thecosts increase when more family members according to the
frameworkof CIP legislation established by Governments.
How much it costs under donation?
Single persons Main + Spouse + 1 Child < 18 Main + Spouse + 2
children < 18
Antigua $135,000 $130,000 $130,000
Dominica $109,950 $175,000 $200,000
Grenada $158,500 $200,000 $200,000
St Kitts and Nevis $157,750 $195,000 $195,000
Montenegro €365,000 €385,000 €395,000
Vanuatu $130,000 $175,000 $190,000
St Lucia $109,500 $165,000 $190,000
Turkey $270,000 $270,500 $272,000
Malta $900,000 €975,200 €1.05m
Cyprus €2.16m €2.16m €2.16m
Bulgaria €1m €1m €1m
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We compare the six most popular low cost CBI schemes, assuming
maininvestor, spouse and children under 18, apply for citizenship
byinvestment schemes.
Take a look on the price variations for family citizenship by
investment programs for Main applicant, Spouse
and number of children below 18 years included in the
application for donation route.
How much it costs to buy a citizenship under real estate?
These are our rough price calculations to buy a passport
depending onthe number of family members.
Assuming 1 main application, 1 spouse, and number of children
under 18added below, here are the rough estimates of minimum real
estateinvestment required. For example 1 main applicant, spouse and
3 children< 18, make the total family members five.
Family 1 2 3 4 5 6
Antigua 137,800 $ 145,600 $ 145,900 $ 145,900 $ 188,500 $
201,800 $
Dominica 109,950 $ 200,000 $ 216,850 $ 200,000 $ 244,750 $
271,200 $
Grenada 158,500 $ 200,000 $ 218,000 $ 200,000 $ 247,000 $
274,000 $
St Kitts 157,750 $ 195,000 $ 207,250 $ 195,000 $ 217,750 $
228,000 $
Vanuatu 130,000 $ 175,000 $ 176,000 $ 190,000 $ 225,000 $
242,000 $
St Lucia 109,500 $ 165,000 $ 206,500 $ 190,000 $ 233,500 $
259,500 $
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Approximate calculations for buying real estate under
citizenship by investment depending on family members
Please contact us for accurate price quotes. We work with
trusted realestate partners with citizenship by investment and
golden visa programs.
Read our Free Guide to Citizenship by Real Estate Investment
Why prices of CBI schemes dropped in 2017?
After the 2017 Hurricane season, in a desperate attempt to
bringrevenues, caribbean countries engaged a race to the bottom
cuttingprices for CBI schemes. As a result the price dropped by
almost 50%making passports affordable to average and middle class
population.
The 2017 has been the most important year for the CBI industry,
because
Real Estate 1 2 3 4 5
Antigua $237,800 $245,600 $245,900 $246,800 $247,000
Dominica $234,950 $250,400 $251,850 $253,300 $255,000
Grenada $278,500 $286,500 $288,000 $290,000 $292,000
St Kitts $242,800 $267,100 $277,400 $287,800 $289,000
St Lucia $349,500 $365,500 $366,500 $366,500 $366,500
Montenegro $406,000 $417,000 $428,900 $430,000 $432,000
Turkey $270,000 $275,000 $277,500 $279,000 $280,000
https://cbicitizen.com/2020/03/28/guide-to-citizenship-by-real-estate-investment/
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so many engaged price cuts. First the Caribbean countries then
followedby Vanuatu and Turkey.
Turkey dramatically cut the prices for passport down to just
$250,000from $1 million. It is just a huge price cut for
citizenship!
Looking on the flip side!This only benefited the clients and
helped to increase the popularity ofthe passport by investment
schemes.
Prices of Citizenship by Investment Programs Before and After
2017
How important are visa waivers?
Visa waivers fuel demand for passports that come with visa
free
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movement. It has become the most important marketing factor to
attractclients applying for passports. Imagine with one powerful
secondpassport, you could visit all the 196 countries in the
world.
You will see below the soft visas (eVisa, ETA, VOA etc) and hard
visasrequired to visit 196 countries in the world for CBI
passports. ClearlyMalta is powerful and Caribbean passports are not
far behind.
Source: Best Passport Rankings Study 2020
On 28 May 2015 the EU signed short-stay visa waiver
agreementswith St Lucia, the Commonwealth of Dominica, Grenada, St
Vincent andthe Grenadines, the Republic of Vanuatu, the independent
State ofSamoa and the Republic of Trinidad and Tobago.
Canada revoked visa waiver agreements for all Caribbean
countries
Visa notrequired
Visarequired eVisa eTA
Visa onarrival
eVisa / Visa onarrival
TotalAccess
Malta 118 30 13 3 18 14 166
Austria 117 30 12 3 13 21 166
Cyprus 117 33 15 1 16 14 163
Bulgaria 110 34 15 1 17 19 162
Antigua 98 54 11 1 26 4 140
Saint Kitts 99 53 10 2 27 4 142
Grenada 92 59 13 1 26 4 136
Saint Lucia 90 60 12 2 27 4 135
Dominica 87 61 14 1 27 5 134
Vanuatu 80 67 13 0 29 5 127
Montenegro 74 68 16 0 23 14 127
Samoa 78 69 13 0 29 6 126
Moldova 72 76 14 0 20 13 119
Turkey 65 79 9 2 22 16 114
Cambodia 17 127 19 0 20 11 67
Jordan 16 130 18 1 18 11 64
Comoros 14 138 10 0 24 9 57
Egypt 16 132 16 0 21 10 63
https://best-citizenships.com/2020/01/12/best-passport-rankings-2020/
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selling passports by 2015 citing citizenship for sale pose a
serious risk toCanada’s borders.
We noticed when Canada revoked visa waiver and imposed
visarestriction on Antiguan citizen in 2017, the applications for
CBI passporttook a nose dive. This goes on to show how important
are visa waiversfor citizenship by investment programs.
But the Caribbean countries have managed to expand their visa
waiveragreements to Russia and other countries in an effort to
boost tourismand passport revenues.
Who are CBI citizens?
CBI citizens are a new class of diaspora population created by
citizenshipby investment programs.
Approximately less than 10,000 people become CBI citizens every
year,and an estimated 50,000 CBI citizens living in diaspora. These
are smallcommunities of wealthy individuals live in United Arab
Emirates, China,Europe, Americas and Africa.
Here are a brief numbers of CBI population that exist as of
2020
*Note: Approximate unofficial figures calculated based
onpassports/applications approved for investors. For Dominica PWC
report
St Kitts and Nevis 18,000
Grenada 3,300
Antigua and Barbuda 3,500
Dominica 6,000
Malta 1,200
Cyprus 4,500
Vanuatu 2,000
Turkey 5,100
Montenegro 5*
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What you should know about EU citizenship?
The European Union (EU) citizenship, first of all does not exist
as its own,it a supplemental citizenship conferred by member states
of the EU. TheCitizenship of the European Union shall not replace
national citizenshipand is automatically lost if revoked by the
member state.
EU citizens can also be dual citizens. Most EU states do grant
citizenshipthrough ordinary naturalization meeting conditions such
as long termresidency, integration, passing civic and language
tests.
Only three member states (Malta, Bulgaria, Cyprus) grant
expeditedcitizenship based on investment. Of all Cyprus has the
fastest citizenshiptime (6 months)
Bulgaria – €1m (Government bonds, financing possible)Malta –
€900,000 (€650K Donation + €150K Bonds + Processingfee)Cyprus – €2m
(real estate)
Bulgaria remains the cheapest option, while other programs are
onlysuitable for High-net-worth investors costing excess of one
million euros.
What rights do EU citizens enjoy?
Right to free movement, settlement and live anywhere across
theEU.Right to trade and transport goods, services and capital
freelythrough EU borders ( no restrictions on capital
movements)Right to vote in and run as a candidate in local
elections, europeanelections and european citizens initiative Right
to consular protection by embassies of other EU memberstates when
embassy is not presentRight to equal pay, discrimination at
workplace,
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Right to legal protection, data protection and privacy.Full
citizen rights including protection from deportationFavourable tax
regime (requires advance planning)
Non-EU Nationals
Iceland, Switzerland, Liechtenstein and Norway are not part of
EuropeanUnion therefore these country nationals are not EU
citizens. Althoughthese countries are not members of the EU, their
nationals can work inthe EU on the same footing as EU nationals,
since they belong to theEuropean Economic Area.
EU/EFTA/Schengen and candidate countries
What is the difference between EU and Schengen?Download
Do You Know?Swiss citizens are not EU citizens. Swiss nationals
are free to live andwork in the EU.
https://cbicitizen.com/wp-content/uploads/2020/03/Differences-EU-EFTA-Schengen.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Differences-EU-EFTA-Schengen.pdf
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UK citizens cease to be EU citizens from 2021. The Brexit
transitionperiod ends on 31 December 2020.
Common Myths Debunked
We will debunk some of the common myths many think about
citizenshipby investment programs (CIP)
Myth 1: Citizenship by investment (CBI) schemes offer
diplomaticpassports.Reality: CBI schemes issue ordinary passports
have nothing to do withdiplomatic passports. Diplomatic passports
can only be issued to citizensaccording to Vienna convention.
Diplomatic immunity is only available tocertain classes of high
level diplomats (not to all).
Myth 2: Only criminals or money launders acquire passports
byinvestmentReality: All applicants must pass due diligence checks
before being givenpassports. High risk clients are rejected. It is
a fact that 99% of the thepeople applying are genuine families,
they ONLY benefited from theseschemes, getting a new life and
identity. Less than 1% of thoseunscrupulous persons known to abuse
the citizenship schemes.
Myth 3: No background checks are done for passport
investors.This is completely false. Due diligence forms the heart
of the industryprotecting the integrity of citizenship by
investment programs. Infact over90% of work done on applicants
involve these checks. Some do abusethe passport programs bringing
negative reputation to the CBI industry.All immigrant investor
programs (including US EB-5) have issues. Novetting system is 100%
perfect, but it is a constant struggle to improvisethe checks.
Can stateless people apply for citizenship byinvestment?
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Citizenship by investment programs do not restrict stateless
people fromapplying for passport programs. As far as we know, at
the moment only 4CBI programs accept stateless people
1. Vanuatu2. Dominica3. Turkey4. Cyprus5. Antigua
There are 12 million stateless people around the world who do
not haveany form nationality. Stateless people are denied basic
human rights suchas right to education, healthcare, employment and
freedom ofmovement, due to lack of papers and identity.
Citizenship by investment schemes who can afford to make
investment,provide stateless people new identity, healthcare and
other righteousbenefits.
Statelessness is caused by collapsing states, discrimination
againstparticular ethnic/religious groups, gaps in nationality
laws, stripping ofcitizenship or states that not let women pass on
their nationality.
The UN Human Rights agency has pledged to end statelessness
by2024.
Best Citizenship by Investment Programs
We will give you a quick review analyzing 15 most popular
citizenship byinvestment programs. We will also tell you the Pro’s
and Con’s with eachof the programs.
Best Citizenship by Investment Rankings 2020Download
1. Grenada
https://cbicitizen.com/wp-content/uploads/2020/04/BCBIR-2020.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/BCBIR-2020.pdf
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Beautiful Caribbean sunset and beaches in Grenada
Pros
Grenada established itself No.1 citizenship by investment in
theworld.Only Caribbean country that has visa free access to all
thesecountries China, Russia, United Kingdom, Schengen
statesGrenadian citizens have access to E-2 investor visas to visit
UnitedStates (cheapest alternative to EB-5). It is a non-immigrant
visa.No requirement to visit Grenada and Zero residence
requirements.Passports delivered through Authorized
agents.Permanent residence card at additional cost.
Cons
Costwise it may be slightly expensive, but you get what you pay
forin terms of quality of passport.
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Grenada may refuse applicants who are rejected already applying
forCBI programs in other countries.
List of Authorized Agents for Grenada Citizenship
ProgramDownloadGRENADA_CITIZENSHIP_BY_INVESTMENT ACT
2013DownloadGrenada Citizenship-by Investment-Amendments
2019_DownloadGrenada Approved Real Estate Regulations
2019Download
2. Vanuatu
Eton Beach on Efate Island, Vanuatu, near Port Vila – famous
beach on the east coast
Contribution Program (VCP)
$130K
One time Donation
Free Quote
Pros:
https://cbicitizen.com/wp-content/uploads/2020/03/Grenada-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Grenada-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O._17_of_2013_GRENADA_CITIZENSHIP_BY_INVESTMENT_REGULATIONS_1.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O._17_of_2013_GRENADA_CITIZENSHIP_BY_INVESTMENT_REGULATIONS_1.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O.-13-of-2019-Grenada-Citizenship-by-Investment-Amendment-No.-3-Regulations-2019_.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O.-13-of-2019-Grenada-Citizenship-by-Investment-Amendment-No.-3-Regulations-2019_.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O.-6-of-2019-Grenada-Citizenship-by-Investment-Amendment-Regulations-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/S.R.O.-6-of-2019-Grenada-Citizenship-by-Investment-Amendment-Regulations-2019.pdfhttps://cbicitizen.com/contact/
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– Fastest application approval times (3 weeks)– Passport issued
within 2 months (entire process completed)– Easy and straight
forward application process (no personal visitneeded)– Very good
passport from a pacific country with visa free access to
UK,Schengen, Russia etc.– Non FATCA country, may interest american
expats. – Pure tax haven, no corporate taxes or income, wealth or
inheritancetaxes.– Full privacy to citizenship investors (names not
disclosed to public)
Cons:
– Slightly expensive compared to the caribbean passport
programs– Visa required to visit Japan, South Korea, Canada,
Australia, SouthAfrica etc.
Visa free list for Vanuatu passport holders DownloadList of
Licensed Agents for Vanuatu Citizenship ProgramDownload
Expert Guide to Vanuatu Citizenship by Investment Program
Citizenship Act and Legislation
Vanuatu Citizenship Act [Cap_112]
Citizenship regulations Order 91-95 of 2018
Citizenship Regulations (Order 32-33) of 2019
3. Dominica
https://cbicitizen.com/wp-content/uploads/2020/03/Vanuatu.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Vanuatu.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Vanuatu-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Vanuatu-Agents.pdfhttps://cbicitizen.com/2020/03/17/expert-guide-to-vanuatu-citizenship-by-investment/https://cbicitizen.com/wp-content/uploads/2020/04/Citizenship_Act_Cap_112.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-regulations-Order-91-95-of-2018.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Vanuatu-Citizenship-Regulations-2019.pdf
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Roseau, Capital of Commonwealth Dominica
Pros
Cheapest citizenship by investment program for single
personsProcessing time only 2-3 monthsVisa free access with EU
schengen area, United Kingdom, Russia etcBeautiful lush green
country with springs and forests.
Cons
Expensive program for families under donation routeVisa required
to visit UAE, Japan, Canada, Nigeria, Lebanon, Mexicoetc.Names of
CBI citizens are published in Government Gazette topublic, twice a
year, creating privacy issues.
Dominica Citizenship by Investment BrochureDownloadVisa free
list for Dominica passport (pdf)DownloadList of Authorised Agents
for Dominica Citizenship ProgramDownloadDominica Citizenship By
Investment Regulations 2013Download
https://cbicitizen.com/wp-content/uploads/2020/04/DCBIP.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/DCBIP.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Dominica.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Dominica.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/DCBI-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/DCBI-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-By-Investment-Regulations-2013-S.R.O.-43-of-2013.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-By-Investment-Regulations-2013-S.R.O.-43-of-2013.pdf
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Dominica Citizenship-by-Investment Act 2014DownloadDominica
Citizenship-by-Investment Amendments 2016Download
4. Saint Lucia
Pitons are the landmark of St Lucia featured in numerous movies
and films.
Pros
Beautiful country very popular for holiday destination in
theCaribbeanCheapest and low cost passport program for single
personsCitizenship program very popular with AmericansApplications
are processed within 80 days if paperwork is intact.No person visit
required and zero residence requirements.
Cons
Price tag little expensive for families applying for
passportsReal estate requirement is high compared to other
caribbeanpassport programs (Canelles resort and Alpina Hotel by
Desert Star
https://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-by-Investment-Regulations-2014-S.R.O.-37-of-2014.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-by-Investment-Regulations-2014-S.R.O.-37-of-2014.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-by-Investment-Amendment-Regulations-2016-S.R.O.-38-of-2016.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Commonwealth-of-Dominica-Citizenship-by-Investment-Amendment-Regulations-2016-S.R.O.-38-of-2016.pdf
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Holdings are approved developments)Names of CBI citizens
available to public in St Lucia.$500K Government bonds option is
available as additional optionbut most applicants do not use this
route due to non-availability offinancing option.
Visa free list for Saint Lucia PassportsDownloadList of Licensed
Agents for St Lucia
CitizenshipDownloadCitizenship-by-Investment-Act-No-14-of-2015DownloadCitizenship-by-Investment-Saint-Lucia-Regulations-S.I-89-of-2015DownloadCitizenship-by-Investment-Amendment-Act-No.-12-of-2019DownloadCitizenship-by-Investment-Amendment-Regulations-2019DownloadSaint-Lucia-National-Economic-Fund-Act-No.-18-of-2019Download
5. Turkey
Turkey’s $2.3 trillion economy is the 19th biggest economy in
the world, attracts all sorts of investment into the
country.
https://cbicitizen.com/wp-content/uploads/2020/03/SaintLucia.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SaintLucia.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SLCIP-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SLCIP-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Act-No-14-of-2015.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Act-No-14-of-2015.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Saint-Lucia-Regulations-S.I-89-of-2015.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Saint-Lucia-Regulations-S.I-89-of-2015.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Amendment-Act-No.-12-of-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Amendment-Act-No.-12-of-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Amendment-Regulations-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Citizenship-by-Investment-Amendment-Regulations-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Saint-Lucia-National-Economic-Fund-Act-No.-18-of-2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Saint-Lucia-National-Economic-Fund-Act-No.-18-of-2019.pdf
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Turkey Citizenship by Investment (TCBI) BrochureDownload
Pros
Biggest and popular citizenship by investment program in
EurasiaVery popular among Arab investorsBest real estate investment
for citizenshipTurkish Passport within 4-6 monthsVAT for foreign
property buyers exempted, makes the program allthe way
attractive.Candidate country for EU already in the process of
incorporating EUlegislation into national law.Easy application
process and no restrictions on who can applyTurkish nationals
working legally in an EU country are also entitledsame working
conditions as the nationals of that country.
Cons
Passport is weak. No visa free access to EU schengen area,
UnitedKingdom or Russia.Visa free access to Turkish citizens
available to Japan, South Korea,Malaysia, Singapore, Thailand,
South Africa, Hong Kong.Applicants must apply for residence card
before becoming a citizen.Property prices still high above EU
countries in some areas.
Visa free list for Turkey passport holdersDownloadAcquisition Of
Turkish Citizenship for Foreigners DownloadTurkey Exceptional
Citizenship by Investment RegulationsGuideDownloadTurkey
Citizenship Implementation Circular 2019 DownloadAdditional Notes
and New Arrangements for CitizenshipDownload
6. St Kitts and Nevis
https://cbicitizen.com/wp-content/uploads/2020/04/TCBI-Brochure.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/TCBI-Brochure.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Turkey.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Turkey.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/AcquisitionOfTurkishCitizenship_ENG_GER_FR.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/AcquisitionOfTurkishCitizenship_ENG_GER_FR.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/kilavuz.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/kilavuz.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/2019-5_1799_sayili_genelge.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/2019-5_1799_sayili_genelge.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/klavuz_icin_kisa_notlar_getirilen_yeni_duzenlemeler.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/klavuz_icin_kisa_notlar_getirilen_yeni_duzenlemeler.pdf
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Oldest and most trusted citizenship by investment program in the
world
Pros
Richest caribbean country renowned for tourism, beauty
andholidaysTrusted citizenship by investment program since 35
yearsVery Strong and powerful passport in the Caribbean.Special
visa free regime with Israel, South Korea, Ukraine, Turkeyand
Taiwan, RussiaNo residence or physical visit required.No oaths
requiredSimple and efficient application process.Cheaper for very
big families over 5 or 6 dependantsLow real estate investment
(reduced to $200,000)Fast track passport processing (AAP) available
for additionalpayment. Decisions on citizenship taken within 45
days.Pure tax haven with no personal income taxes.
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Cons
Slightly expensive programReal estate must be held for 7 years
before selling.No E-2 visa treaty with United StatesVisa required
to visit Canada, South Africa, UAE and Thailand
St Kitts and Nevis Citizenship BrochureDownloadVisa free list
for Saint Kitts and Nevis PassportsDownloadList of Licensed Agents
for St Kitts Citizenship ProgramDownload
Legal text for St Kitts Citizenship by Investment
Legislation
Saint Christopher (St Kitts) and Nevis Citizenship ActDownloadSt
Kitts and Nevis Citizenship-by-Investment Regulations
2011DownloadSt Kitts and Nevis Citizenship-by-Investment
Amendments2017DownloadSRO No.7 of 2018 Sustainable Growth Fund
RegulationDownload
7. Antigua and Barbuda
Antigua made important changes to citizenship by investment
programfrom April 1, 2020. As a result donation option slightly
expensive by$5000 and real estate becomes cheaper by $20,000. Some
countryrestrictions (Iraq) has been lifted and can now apply for
passports.
https://cbicitizen.com/wp-content/uploads/2020/04/SKN.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SKN.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SaintKitts.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SaintKitts.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SKN-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/SKN-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Ch-01.05-Saint-Christopher-and-Nevis-Citizenship-Act.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Ch-01.05-Saint-Christopher-and-Nevis-Citizenship-Act.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SKN-Citizenship-Investment-Regulations-2011.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SKN-Citizenship-Investment-Regulations-2011.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SKN-Citizenship-Investment-Amendment-2017.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SKN-Citizenship-Investment-Amendment-2017.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SRO_No._7_of_2018-Sustainable-Growth-Fund.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SRO_No._7_of_2018-Sustainable-Growth-Fund.pdf
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English Harbour in the South of Antigua
Pros
Cheapest family citizenship by investment program with big
pricedifference, remains attractive for families acquiring
secondpassportsBeautiful and fastest growing caribbean country,
famous holidaydestination in the Caribbean.Powerful passport in the
Caribbean with visa free access toSchengen, UK, Russia and over
150+ destinations.Special visa waivers exist with South Africa,
Qatar, SerbiaCitizenship is private and not reported to public.Most
transparent citizenship by investment program in
theCaribbeanPopular with families from China, Bangladesh, Libya and
Russia.Pure tax haven, no personal income taxes
Cons
Antigua imposes 5 day residence condition when you renew the
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expired passport. This is a problem for many clients.Passport
validity is low issued only for 5 yearsNo right to vote or hold
government offices.Visa required to enter Canada, UAE, Japan,
Israel, Mexico etc.Name change is not allowed after acquiring
citizenship.
Visa free list of countries for Antigua passportDownloadList of
Licensed Agents for Antigua Citizenship ProgramDownloadAntigua and
Barbuda Citizenship-By-Investment Amendment Act2016Download
8. Cyprus
Cyprus is a EU member state since May 2004 and uses Euro. Cyprus
to join schengen area and likely to get US
waiver in the future
Note: Cyprus investment program has been suspended by
government. Itis no longer possible to apply
https://cbicitizen.com/wp-content/uploads/2020/03/antigua.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/antigua.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/AB-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/AB-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Antigua-and-Barbuda-Citizenship-By-Investment-Amendment-Act-2016-Regulations.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Antigua-and-Barbuda-Citizenship-By-Investment-Amendment-Act-2016-Regulations.pdf
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Pros
Best citizen by investment program in the European UnionFastest
passport in 6 months.Must buy a home for €500,000Limited quota of
700 applicants annuallyFull EU citizen rights including right to
vote in European ParliamentelectionsStrong EU passport with visa
free access to Canada, UnitedKingdom and full rights to live, work,
study in 28 Member states.
Cons
Very expensive, only suitable to UHNW millionaires.No Government
bonds investment option.VAT 19% is very high, you would essentiate
waste money buying realestate for €2m. You have to structure
investment properly to payless VAT.Investors have to pay additional
€150,000 donation to research andhousing development.
Visa free list of countries for Cypriot passportsDownloadList of
Authorised Agents for Cyprus Investment ProgramDownloadCyprus
Naturalisation by Investment GuidelinesDownloadCyprus Investment
Scheme – Presentation SeminarDownloadInvestors Citizenship Scheme
in Cyprus by EuropeanCommissionDownload
9. Montenegro
https://cbicitizen.com/wp-content/uploads/2020/03/Cyprus.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Cyprus.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Cyprus-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Cyprus-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CY_Guidelines.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CY_Guidelines.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Cyprus_CIP_PRESENTATIONS_en.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Cyprus_CIP_PRESENTATIONS_en.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CY-EXECUTIVE-SUMMARY.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CY-EXECUTIVE-SUMMARY.pdf
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Montenegro uses Euro, a candidate country to join EU and
Schengen area by 2025
Real Estate North
€250K
Govt Application fee €100K
Free QuoteReal Estate South
€450K
Govt application fee: 100K euro
Free Quote
Pros
Picturesque country visited by over 2 million tourist
arrivals.Montenegro opened brand new economic citizenship program
in2018.
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Rock bottom lowest property prices in Europe.Passport and
permanent residence issued within 3 months.E-1 and E-2 treaty with
United StatesVisa free agreements with Schengen, Russia, Turkey,
Israel, SouthKorea etc.
Cons
Limited quota of only 2000 investors get citizenship until Dec
2021.Weak passport with no visa waiver agreement with United
Kingdom,Canada and IrelandNo option to invest in residential
properties, currently only hotelinvestments allowed.Application fee
very high exceeding €100,000 along with other fees.
Visa free list of countries for Montenegrin passportDownloadList
of Authorized Agents for Montenegro Citizenship
ProgramDownloadAcquisition of Montenegrin Citizenship by Admission
for Investment[ACT] DownloadMontenegrin Citizenship by Investment
Guidelines 2019 DownloadMontenegro Citizenship by Investment
Amendments 2020Download
10. Malta
https://cbicitizen.com/wp-content/uploads/2020/03/Montenegro.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Montenegro.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Montenegro-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Montenegro-Agents.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Montenegro-Special-Citizenship-Decision.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Montenegro-Special-Citizenship-Decision.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/INFORMACIJA-14_151_26_12_2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/INFORMACIJA-14_151_26_12_2019.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CAP_Amendments_2020.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/CAP_Amendments_2020.pdf
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Malta launched Individual investor program in 2014
Malta launched New Direct Investment scheme in Nov 2020,
replacingthe Individual investor program (IIP) with very strict
background checks.
Malta Government has relaunched the citizenship by
investmentprogram, under new regulations published in L.N. 437 of
2020 under theGranting of Citizenship for Exceptional Services
Regulations, 2020 whichwas published in the Government Gazette Of
Malta No. 20,524–20.11.2020
Legal Background
L.N 440 of 2020 – National Development and Social Fund
(Establishmentas an Agency) (Amendment) Order, 2020L.N 439 of 2020
– Malta Individual Investor Programme Agency(Establishment)
(Amendment) Order, 2020L.N 438 of 2020 – Identity Malta Agency
(Establishment) (Amendment)Order, 2020
https://legislation.mt/eli/ln/2020/437/eng/pdfhttps://legislation.mt/eli/ln/2020/440/eng/pdfhttps://legislation.mt/eli/ln/2020/439/eng/pdfhttps://legislation.mt/eli/ln/2020/438/eng/pdf
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L.N 437 of 2020 – Granting of citizenship for Exceptional
ServicesRegulations, 2020L.N 436 of 2020 – Community Malta Agency
(Establishment) Order,2020L.N 435 of 2020 – Agents (Licences)
Regulations, 2020L.N 434 of 2020 – Declaration of Intent
Regulations, 2020 for PropertyAgents
Malta offers excellent opportunity to become EU citizen by
investmentthrough Exceptional citizenship by direct investment
program. You haveto make donation the new regulations.
Malta citizenship doesnt come cheap. For example for a small
family of 3with main applicant, spouse and 1 child under 18, the
costs would comedown to €975,000 without agent fee. The more family
members you add,it would exceed €1m plus other fees.
Pros
Ideal Citizenship by Investment program for HNW familiesYou will
become a full EU citizen under Maltese investor program.Malta
citizenship program popular with Russia, Middle
Eastinvestors.Powerful european passport with visa free access to
United States,Canada, United Kingdom, Australia, Japan, South
Africa etc..Excellent education system and world class healthcare
standards.
Cons
Very expensive program not suitable for small and middle
classfamilies.Not a 100% direct real estate investment program. You
have to rentor buy real estate on top of donation.Refusal rates are
very high (25-30%) complying to very strict vetting
https://legislation.mt/eli/ln/2020/437/eng/pdfhttps://legislation.mt/eli/ln/2020/436/eng/pdfhttps://legislation.mt/eli/ln/2020/435/eng/pdfhttps://legislation.mt/eli/ln/2020/434/eng/pdf
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standards.No privacy for citizenship buyers, as names are
published in Gazetteavailable for public.Residence requirement
imposed for 12 months. (e-residence cardmust becoming a
citizen)Takes atleast 14-16 months to get Maltese passport (very
slow)Property prices extremely high in Malta makes the
schemeunpopular for property buyersMalta has no visa waivers signed
with Russia, China.
List of Licensed Agents for Malta Citizenship
ProgramDownloadInvestor Citizenship and Residence in Malta by
EuropeanCommissionDownloadIndividual Investor Programme
Regulations, 2014Download
11. Bulgaria
https://cbicitizen.com/wp-content/uploads/2020/03/MIIPA.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/MIIPA.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/MT_SUMMARY_FINAL.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/MT_SUMMARY_FINAL.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/IIP-LN-47-2014.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/IIP-LN-47-2014.pdf
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Bulgaria is a member country of the EU since January 1, 2007
comprising of 1.4% of EU population. Bulgaria to
join schengen area in the future.
Do you know about Bulgaria? We have one special citizenship by
investment program to tell you about.Thats Bulgaria. It low profile
investment citizenship scheme is not widelypromoted and least known
to many investors.
Fast Track citizenship
€1m
Business Capital
Free Quote
Bulgaria, probably the cheapest citizenship by investment
program inEurope, you can possibly think of
The trick here is financing Government bonds.
At 5% interest rate you only have to pay around €275,000
(includes€250K financing cost for 5 years and other €250,00 legal
charges tofinance €1m Government stocks/bonds.
It is still cheap considering you get EU passport and it is 4x
timescheaper than Malta
Pros
Bulgaria offers excellent opportunity to become EU citizen
byinvestmentFast track investor citizenship scheme still running
and not abolishedyet.Cheapest EU citizenship by investment
programBulgaria has powerful EU passport with visa free travel to
Canada,
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United Kingdom and other countries.Immediate permanent residence
cardExcellent healthcare and education benefitsCorporate tax haven
in Europe with low taxes and cost of living.One personal visit
required. No requirement to permanently stay inthe
country.Citizenship privacy CBI citizens as it is not reported to
public.No requirement to open bank account.No country restrictions
on who can apply
Cons
Hold permanent residence for one year before applying
forcitizenshipBulgaria not yet in schengen area likely to join in
the future.Passport takes 18 months to receive.Citizenship is
revoked is investments not maintained for 5 years.If citizenship is
refused by president, cannot be appealed.
Visa free list for Bulgaria passport holdersDownloadCitizenship
and Residence Legislation in Bulgaria from Invest
BulgariaAgencyDownloadInvestor Citizenship in Bulgaria compiled by
EuropeanCommissionDownload
12. Moldova
https://cbicitizen.com/wp-content/uploads/2020/03/Bulgaria.pdfhttps://cbicitizen.com/wp-content/uploads/2020/03/Bulgaria.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/InvestBulgaria_legal_guide_2013.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/InvestBulgaria_legal_guide_2013.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/BG-EXECUTIVE-SUMMARY-final.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/BG-EXECUTIVE-SUMMARY-final.pdf
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Above Chisinau at sunset. Chisinau is the capital city of
Republic of Moldova
Moldova opened first citizenship by investment scheme (MCBI) in
Oct2018, to drive economic investments into the country. The
Governmentexpected to raise €1.3 billion euros from the citizenship
by investmentscheme by handing out fast track citizenship to
approximately 5000economic investors from abroad.
The scheme remains suspended currently until Sep 2020 and the
fate ofthe scheme after that is unknown.
Moldova received 36 applications and so far only 5 investors
receivedcitizenship before the scheme was placed on moratorium.
Moldovan passport has visa waiver arrangement with the EU
schengenarea, Russia, Turkey, Israel, Ukraine etc.. Moldova still
has NO visa freeaccess to United Kingdom, Ireland and Canada.
Moldova Citizenship by Investment – MCBI GuidelinesDownload
https://cbicitizen.com/wp-content/uploads/2020/04/MCBI-guidelines-181121.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/MCBI-guidelines-181121.pdf
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13. Austria
Austria is one of the best countries in the world ranks highly
for peace,freedom and highest living standards.
16th-century Alpine houses and alleyways in Halstatt,
Austria
Austria does not have any official citizenship by investment
program.
Note: Austria citizenship is NOT guaranteed by government
forinvestments.
Article 10(6) of the Citizenship Act does specify economic
investment asthe criteria for discretionary naturalization in the
interest of the statewaiving all residence and language conditions.
Few investors receivedAustrian citizenships for investments before
2012, after this this programdisappeared into unknown.
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Austria does grant exceptional citizenship for extraordinary
contributionsin the interest of state in the fields of arts, music,
research, science,sports and medicine.
Currently the only for investors to acquire Austrian citizenship
is throughthe residence program. Foreign Investors can apply for
self employmentpermit with Red-white-Red card which offers
temporary residence. After10 years of living, you will get to
become Austrian citizen. One problemwith Austria is dual
citizenship is not permitted, so you have to probablyrenounce
previous nationality.
No doubt Austria has world class and strongest passports in the
World.
14. Comoros
Great Mosque in Moroni, Comoros
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Comoros launched Citizenship by Investment Program in 2008
basedbased on Article 19 of the 2001 Constitution of the Union of
the Comorosmaking it the first citizenship by investment scheme
launched in Africa.Further amendments to the citizenship by
investment scheme were madein 2013.
Comoros citizenship program is permanently closed since 2016
Comoros ran the passport for sale program from 2009 to 2016
requiringforeign investors to pay just $40,000 donation per
application plusadditional fees
The Government officially announced from 2009 to 2016, a total
of52,000 passports were sold as part of the economic citizenship
program.Most of these Comorion passports were issued to large
number ofstateless people in UAE and other countries.
Since May 2016 the citizenship by investment program in
Comorosremains closed, after alleged abuse of the scheme.
15. Egypt
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Egypt history dates back to thousands of years back from
Pharoah’s boasts of $1.3 trillion economy
In June 2019, the Egyptian parliament approved Citizenship
forInvestment Law aimed at attracting foreign investors to reside
in Egypt.The New Law granted the Prime Minister has the power to
grant Egyptiancitizenship to any foreign national who buys a
state-owned property or aprivate property to establish an
investment project.
Subsequent amendments to the citizenship law reduced the
investmentand time for citizenship. There is a $10,000 filing fee
per onlineapplication submitted to the Special citizenship by
investment unit setupby the Government.
Pros
Brand new African citizenship by investment schemeEgypt is a
$1.3 trillion market connecting Asia, Europe, the Middle
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East, Africa and Americas.Fast track Citizenship decision made
within 90 days for investmentE-2 investor visa treaty with United
StatesBank deposit option also available ($750K)Egypt permits dual
citizen status
Cons
Weak passport in terms of visa free travel to less than 50
countries.Investment ceiling is too high for real estate and
donation.Scheme is not popular yet.
16. Samoa
Samoa lies about halfway between Hawaii and New Zealand, has
$1.2 billion GDP with 200,000 population.
Samoa (Western Samoa) opened a citizenship by investment scheme
in2017, under the Citizenship Investment Act and Regulations of
2016.Under the scheme foreign investors must invest $2.4 million to
become a
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citizen.
This program did not become popular and remains unknown to
many,due to several issues with the program. However the scheme is
still openfor investors who want to invest in energy, real estate,
IT, agricultural andfisheries manufactories and communication tech
fields. All applicants aresubjected to due diligence.
The program is administered by Ministry of Commerce. The
citizenshipinvestment program received 5 applications from agents
and investorsaccording to the 2018 annual report.
Pros
Exclusive and unique citizenship by investment program.Powerful
second passport with visa free access.Samoan passport visa free
access to 130+ countries includingCanada, Russia, United Kingdom
and Schengen states.Financially secretive tax havenEntire
investment can be withdrawn leaving only 15% after PR.
Cons
Very high investment threshold15 day residence
requirementInvestors must prove networth of atleast $1mPassport
takes a very long time more than 2 years, only issued afteryou
become permanent resident.Passport valid only for 5 years with
extensions.70% of the investment must be paid upfront along with
theapplication.
Samoa Citizenship Investment Act 2015DownloadSamoa Citizenship
by Investment GuidelinesDownload
https://cbicitizen.com/wp-content/uploads/2020/04/Samoa-Citizenship-Investment-Act-2015-Eng.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/Samoa-Citizenship-Investment-Act-2015-Eng.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SamoaFINALinvestment.pdfhttps://cbicitizen.com/wp-content/uploads/2020/04/SamoaFINALinvestment.pdf
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17. Jordan
Jordan is a $100 billion economy with 98% Arab population out of
10 million residents crossroads of Asia,
Africa and Europe.
Permanent Residency
280K
Real estate
Jordan approved the regulations for citizenship by investment in
2018and the next year the program was relaunched in 2019 with
reducedinvestment requirements. It is the first citizenship by
investment programlaunched in Middle east remains attractive for
some investors.
Pros
Citizenship attractive to Arab investorsJordan is at strategic
geographic location for trade and businessBank deposit option
available for $1m
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Passport issued for 10 yearsVisa free access to 50 countries
including Malaysia, South Africa,Egypt Lebanon30 day application
processDual citizenship not restricted
Cons
High investment thresholds compared to other programs in
themarketWeak passport. No visa free access to
Schengen/UKCitizenship cannot be passed through mothers (only
father)Limited Quota of 500 investors per year
What You should Know about Due Diligence?
Due diligence is the heart beat of the investment immigration
industrycollecting $15 billion in investments through CBI and
Golden visaschemes.
Governments have maintained highest standards of due
diligencekeeping out high risk applicants to protect the integrity
of the migrationschemes.
Agents first do preliminary due diligence and background checks
beforepassing the files to Governments. Governments and CIUs do
variousprofiling checks for sanctions, source of funds and other
risk tools toidentify risk. Third party due diligence reports from
Thomson Reuters,Exiger, Refinitiv, S-RM are sought by Governments
before a decision ismade on approvals. Sometimes this takes atleast
2-3 months. Over 90%of the work involved for passport applicants
lies in screening for risk.High risk applicants including
Politically exposed persons (PEPs) aresubjected to Enhanced due
diligence (EDD)
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