Citizenship with no commotion: Which countries offer a passport without migrating?
Written by
Veronica Cotdemiey, CEO of Citizenship Invest
The vast majority
of people believe that the process of obtaining a second citizenship or another
nationality is long and tedious. Most look to countries such as the US, Canada,
Australia and the UK, along with other European countries, only to be faced
with their stringent requirements. These requirements are both costly and
time-consuming, often demanding people to reside in the country for a
significant period of time, assimilating the culture and learning a new native
language. However, another solution exists that many are not be familiar with.
A few countries
in the world grant individuals full citizenship without the trouble of moving
there and all other difficulties associated with it. Under such programs, these
countries simply require a financial contribution or real estate investment in
exchange of providing individuals and stakeholders a second citizenship in a
period of two to six months. For wealthy and affluent businessmen and
entrepreneurs who do not have the option of immigrating without disrupting
their lives, these programs are ideal as they can provide them and their
families with the ability to obtain a second passport in a swift and convenient
manner.
The following
are the most prominent countries in the world that provide people with full
citizenships without ever residing there:
Number one on
the list is Cyprus. This is due to the fact that it is the only country that
grants investors a European passport in only 6 months without ever re-locating.
The passport allows access to 145 countries visa-free and most importantly the
possibility to live and work anywhere within the European Union. Obtaining a
Cypriot nationality comes with a price tag of Euros 2 Million in luxury real
estate, however, for wealthy businessmen becoming a European national is the
best option for their families and businesses, certainly well worth investing
in. These individuals have also realized the investment power in Cyprus
booming real estate market. In addition, according to the Cypriot citizenship
law, an investor is eligible to sell the property after 3 years, keeping one
lower in value for Euros 500,000. This provides investors with the opportunity
of making a profit while retaining full citizenship status.
Grenada is a
Caribbean country that has seen a great surge in demand for its citizenship.
Grenada is special because is the only country in the Caribbean with a
citizenship program which allows citizens to apply for an E-2 visa which grants
them residency in the USA. The Grenadian passport is the only Caribbean
passport that allows visa-free access to China, which can be a major advantage
for stakeholders with business operations and ties with China. Grenada grants its
passport for a USD 200,000 financial contribution to the countrys National
Transformation Fund. The countrys passport holders do not need to relocate to
Grenada, and they will also get visa-free access to 120 countries including
China, Schengen states, and the United Kingdom.
The citizenship
by investment program being offered by this beautiful island in the Caribbean
has become a major international player. It namely rose to fame because with a
recent change in the legislation the citizenship program became more affordable
and because it does not require you visit the country at any point in time. A
USD 100,000 contribution to St. Lucias National Economic Fund or an investment
in a Government-Approved project in St. Lucia will lawfully grant you a second
passport allowing you instant visa-free travel to 123 countries worldwide including
the Schengen zone and the United Kingdom as well as other notable international
business and tourist hubs such as Singapore and Hong Kong. With the launch of
The Ritz-Carlton Resort in St. Lucia, that is set to open its doors in 2021,
the resort is set to be a major contributor to the country CBI program.
Another favorite
country among citizenship by investment programs without the need to immigrate is
the Commonwealth of Dominica. It is one of the most cost-effective programs and
allows visa-free access to 118 countries. The program has been established
since 1991 and it grants an individual full citizenship rights for a financial
contribution of USD 100,000 to the countrys Government Fund. Another
investment option is Dominicas Government-Approved real estate projects such
as Kempinski Hotel, through which investors have a tangible investment with a profitable
potential.
This Caribbean
country allows you to acquire its citizenship without immigrating and living in
it at any point in time. It requires a financial contribution of USD 250,000 to
the Sugar Industry Diversification Fund (SIDF) or a real estate investment of
USD 400,000 in any Government Approved project. St. Kitts passport offers visa-free
travel to 129 countries included Schengen states and United Kingdom.
Unlike other
countries in the Caribbean, Antigua does require you to visit the country for
at least 5 days before granting you its citizenship, which is certainly
worthwhile as the country is stunning. The citizenship program requires a
minimum financial contribution of USD 250,000 to the National Development Fund
or a USD 400,000 in the countrys Government-Approved project. Its passport
allows you visa-free access to 129 worldwide including all of the Schengen zone,
UK, Singapore, Hong Kong, and other first world countries.
This is the last
country on our list. We chose to mention Portugal in this list because it
technically could grants you citizenship without moving or living in the
country. The major difference with Portugal and the rest of the countries on
the list is that an individual need to obtain a Residency card in Portugal and
maintain the card for a period of 5 years, subsequently obtain Permanent
Residency and after year 6 he or she could be eligible to apply for Portuguese
citizenship, provided that they have a basic knowledge of Portuguese language. The
initial residency card is granted after an initial investment of Euros 500,000
in real estate anywhere in Portugal and must be renewed a couple of times over
the first 5 years.
According to the
law of each country, the issued passport can never be revoked. Each country, with
the exception of Portugal, processes the citizenship in a timeframe of two to six
months, the period varies from one country to the other and from a case to
another.
