The selection of accessible economic citizenship by investment programs leave global investors spoiled for choice. Time is of the essence to acquire a “Plan B” second citizenship to protect your family, your health, your freedom and your assets. Indeed, our most efficient economic citizenship programs can be completed in under 60 days. Additionally, the financial benefits from your investment will pay you back many times over within a very short amount of time.
In order to take advantage of economic citizenship, the most prudent thing to do is act now! Acquisition costs will not stay low forever, approval requirements are increasingly more difficult to clear and the many benefits can prove fleeting to those who hesitate. What are you waiting for?
- Acquire Economic Citizenship
- Economic Citizenship Benefits
- Citizenship Qualifications
- Dual Citizenship Options
- Renounce US Citizenship
How To Get Economic Citizenship
Acquiring economic citizenship by investment is a surprisingly simple process. Several options include non-refundable donation, investment in approved real estate, business investment or purchase of government bonds. To maximize the economic citizenship benefits, investors should find the best match for their personal objectives.
Primarily, the benefit of certain programs is the opportunity to redeem your investment. For example: an investment in real estate, local business or government bonds can be sold after a minimum holding period (usually 3-5 years). As a result, it is possible to show a return on your investment during the holding period and even make a profit on the sale of the assets. Additionally, it is possible to enter joint purchase agreements for approved real estate in economic citizenship countries such as Grenada. As a result, investors receive a 50% reduction in the purchase price and still qualify immediately after the purchase.
In contrast, by making a non-refundable donation to the development fund of the host country, it allows applicants to immediately qualify for the program with no minimal holding requirements. As a result, it is not necessary to manage your investment or be concerned with fluctuating asset prices. Get a Customized Quote.
Economic Citizenship Qualifications
To be sure, the application process for acquiring economic citizenship by investment is not easy. However, the process is only contingent on your financial means, medical history, personal background and professional background. Simply put, if you can verify the source of investment funds, prove your identity beyond any doubt, you have a clean bill of health and no criminal history – you will be successful. Rest assured I will be assisting applicants meet the qualifications throughout the entire process. As a result, your application could be approved in as little as 1-2 months by instant citizenship countries such as Vanuatu.
Indeed, all types of applicants are welcome. This includes stateless persons, business travelers, adventurers or those who wish to renounce their current citizenship.
Economic Citizenship By Investment Benefits
The economic citizenship by investment programs that we offer do not impose any conventional requirements such as fluency in the national language, marriage, family descent, religion, place of birth or double taxation. Additionally, our economic citizenship countries do not impose conscription into the military service. Indeed, each country promoted here is politically neutral and they do not maintain armed forces.
In return for their contribution to the host country, successful applicants will obtain a politically neutral passport on a beautiful tropical island. However, none of our economic citizenship programs except Antigua and Barbuda (5 days residency within the first five years of obtaining citizenship) require any residency requirements. Additionally, there is no need to visit the country during the application process and the personal interview requirement has been waived.
Each citizenship by investment program has unique benefits that will appeal to different types of investors. For example, our cheapest citizenship to buy – Dominica – offers strong constitutional protection plus visa free travel to the Schengen area, UK and Russia. Indeed, the value within the Dominica program has increased significantly since inception in 1993.
Family options are important and our programs include the addition of dependent parents, grandparents and siblings. Grenada offers USA E-2 visa access plus expanded advantages for dependents and visa free travel to China! Additionally, successful St Lucia applicants can retroactively include newborns and new spouses within 5 years.
History of Economic Citizenship by Investment
Economic citizenship by investment is a relatively new development. In 1984, St Kitts and Nevis developed the world’s first economic citizenship by investment program in order to diversify their economy. Unfortunately, their economy had overly relied on the sugar industry for far to long. Therefore, when sugar prices collapsed in the middle of the 20th century their small island nation had an economic crisis.
However, their economic citizenship program was a huge success and the economy stabilized. As a result, many other developed and undeveloped countries have since followed in their footsteps. This would include some of the other Caribbean countries but ironically the world’s largest developed economies followed suit. Indeed, the largest competitors to the original Caribbean economic citizenship countries are the United States and European Union.
Unfortunately, economic citizenship by investment is deemed by some to be unpatriotic. Nonetheless, the mutual benefits are enormous for the applicant and also the issuing country. As a result, the issuing country acquires an immediate economic boost and also a new citizen of exceptional means. The successful applicant gains the freedom and security of a new passport.
Dual Citizenship by Conventional Means
Prior to the introduction of economic citizenship by investment programs, conventional means of obtaining dual citizenship were the cheapest citizenship to buy. These conventional means remain intact, however they can be very expensive, time consuming and sometimes fate also must play a part. With the exception of naturalization by birth all of the conventional means involve what is invariably a long and arduous process.
List of Conventional Means:
Citizenship by Naturalization – most countries provide the path of citizenship to immigrants who fulfill certain requirements. However, this may involve a lengthy period of residency, fluency in the national language and taking a pledge of allegiance. Unfortunately, swearing allegiance to the host country may involve renunciation of your current citizenship.
Citizenship by Marriage – acquiring a spouse from the issuing country has long been a conventional means of acquiring dual citizenship. However, very few instant citizenship countries will grant citizenship to the new spouse on the wedding day (e.g. Iran). Additionally, a marriage can be fraught with domestic complications. Furthermore, many countries have passed laws against sham marriages. Therefore, marriage is only a reliable method to obtain dual citizenship if it sustainable.
Citizenship by Religion – some instant citizenship countries such as Israel will grant citizenship based on religion. As a result, all Jews are allowed to immigrate to Israel and will be given a fast tracked path to citizenship. Additionally, dual citizenship is allowed but Israeli citizens can only enter Israel by using their Israeli passport.
Citizenship by Descent – historically many instant citizenship countries have granted dual citizenship based on descent. As a result, if your parents or even grandparents are citizens of the issuing country then you may be granted a new passport. In recent times many instant citizenship countries have modified traditional laws to permit descent to be traced through either parent. Although descent had previously only been traced through the father.
Citizenship by Adoption – a minor who is adopted by parents that are citizens of the issuing country is usually granted instant citizenship.
Countries that Prohibit Dual Citizenship
For investors who are pursuing the cheapest citizenship to buy it would be prudent to confirm if dual citizenship is permitted. Some countries such as Singapore have long been the darlings of the financial elite looking for instant citizenship countries. However, Singapore and a few other countries have decided to put sovereign unity ahead of economic citizenship by investment programs. Therefore, you may be required to renounce your current citizenship before acquiring a new passport from a short list of countries. This can be done by requiring applicants to forfeit their current citizenship or revoking existing citizenship from citizens who subsequently acquired dual citizenship.
Dual Citizenship is not Permitted: Andorra, Austria, Azerbaijan, Bahamas, Bahrain, Belarus, Bhutan, Botswana, Brunei, Burma, Botswana, Chile, China, Congo, Cuba, Czech Republic, Denmark, Djibouti, Ecuador, Estonia, Ethiopia, Fiji, Haiti, India, Indonesia, Iran, Japan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Korea, Latvia, Lithuania, Laos, Papua New Guinea, Peru, Poland, Macau, Malaysia, Mauritius, Marshall Islands, Mexico, Micronesia, Monaco, Mongolia, Mozambique, Nepal, Netherlands, North Korea, Norway, Oman, Poland, Qatar, Romania, San Marino, Saudi Arabia, Singapore, Slovakia, Solomon Islands, Swaziland, Tajikistan, Thailand, Tonga, Turkmenistan, Ukraine, United Arab Emirates, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe
Dual Citizenship Risk of Double Taxation
Obtaining the cheapest citizenship to buy may result in a tax liability from each country in which you are a citizen. Although in most tax scenarios a person with dual nationality would only pay tax in their country of residence. However, two notable exceptions would be the United States and Eritrea. Thus, US citizens residing outside the US would be liable for income tax in both countries. Although the US government does have tax treaties with some countries that allow for foreign tax credits. As a result of dual taxation, some US citizens would be wise to renounce US citizenship.
Renunciation of US Citizenship
Throughout feudal times the doctrine of perpetual allegiance applied to all of those who acquired dual citizenship. As a result, British immigrants to America were still held accountable as British citizens. Unfortunately, this resulted in severe diplomatic issues under some circumstances. For example, Britain attempted to enforce conscription on American sailors who they believed were still subjects of the British crown. This misunderstanding led to the War of 1812 and the right of renunciation would be implemented soon thereafter.
The US Congress finally passed the US Expatriation Act in 1868 which gave Americans the right to renounce their US citizenship. As a result, many other countries such as Britain followed soon afterwards with similar legislation. Many countries including the United States still permit their citizens to renounce US citizenship.
Ironically, dual citizenship is currently a requirement of renunciation. Therefore, having a second passport is required or the US State department will not approve requests for renunciation or relinquishment of your US passport. The legal foundation of this requirement is uncertain because the US Congress did not include it in the existing legislation. Nonetheless, the US Consulate will require validation of your second passport (including making a copy) or the renunciation of your US citizenship will be unsuccessful.
How to Renounce US Citizenship
According to Title 8 U.S. Code § 1481 there are 7 acts which effectively result in a renunciation of US citizenship provided the person is over 18 years of age and voluntarily completed the qualifying acts with the intention to relinquish US citizenship. However, only 2 of the qualifying acts are commonly used.
Making a formal oath of renunciation to a diplomatic or consular officer in a foreign office outside the United States in a manner that is prescribed by the Secretary of State. This act is known as “renunciation”.
Becoming a naturalized citizen of a foreign state by their own application or by application of an authorized agent (with the intent to relinquish US citizenship). This act of renunciation is known as “relinquishment”.
Implications of Title 8 U.S. Code § 1481
In regards to relinquishment, it is of note that Title 8 U.S. Code § 1481 requires the US Secretary of State to presume that dual citizenship was obtained without the requisite intent to relinquish. As a result, it is not necessary to use option 2 because option 1 is sufficient.
Option 2 is far more complex because the person making the request for renunciation must prove they intended to renounce at the time they satisfied the requirements of naturalization. Therefore, if the US Secretary of State feels that the required intent is lacking or uncertain then renunciation will not be approved. Furthermore, the fee for renunciation which is currently $2,350 will not be refunded.
The other 5 acts of renunciation are inapplicable for most US citizens. For example, after turning the age of 18 if you voluntarily: 1) Commit an act of treason against the US government 2) Serve in a foreign military that is hostile to the US government 3) Accept a foreign government post after acquiring dual citizenship 4) Making a formal written request to the US Attorney General from within the United States during time of war or 5) Taking an oath of allegiance to a foreign state or political sub-division thereof.