Regardless of your choice, you had to purchase a residence valued at €500,000. Because it’s a primarily Muslim country, almost all of its applicants come from the Middle East. (Antigua and Barbuda charge about $145,000.). We provide more details about one such option in our free guide: The Four Passports ANYONE Can Obtain (Including a European One). The offer is valid until the end of 2020. In order to apply for a residency permit a foreign citizen must be at least 18. That means qualification for a second passport and hence their incredible popularity amongst our clients for the international travel possibilities they present. You’ll also have to invest at least €150,000 in government-approved financial instruments – stocks, bonds, etc while keeping your investment for at least five years. A passport from one of these countries includes visa-free access to most of the developed world and key parts of the developing world, including most of southeast Asia (for manufacturing and trade opportunities). Traditionally, there are four ways to obtain a second passport & citizenship: Consider these EASY And Low-Cost Second Passport Options First... Investment is just one of four options to get a second passport and citizenship. If there’s one destination in particular that might turn into an ideal getaway from Covid-19, it’s Iceland. We can do this because instead of pocketing the government’s commission, we hand it back to our members. You can still go this route, the benefit being that you are allowed to sell the property after five years instead of seven. Like Malta and Cyprus, Bulgaria’s citizenship by investment program begins with residency. In their recent so-called “Cyprus Papers”, Al Jazeera alleged that the Cypriot citizenship program was being used by criminals to escape justice in their home countries. But obtaining a second passport through investment could still be very beneficial for the right kind of person…. It could potentially help you save tens — or even hundreds of thousands — of Dollars by picking the best passport for your personal situation at the lowest price. There is only one tax break to speak of. Whether citizenship by investment is the right option for you depends on many factors. However, only consider this investment option if you really know what you are doing. The number of countries each passport offers varies, but it doesn’t mean that the passport with the most countries is necessarily the right one for you…. We are developing solid investment opportunities for our clients around the world to acquire a permanent residence, a second passport and a second citizenship. To be eligible for citizenship by investment, you will be required to donate €100,000 to a government fund. Investors have a choice between donating to the National Transformation Fund (NTF) or buying real estate. Buy the Cheapest CIP in Europe from GCI. St. Lucia now gives Antigua and Barbuda a run for its money when it comes to family applications: All total, government fees included, a family of four will pay a total of $167,500 for St. Lucian passports. So if you’ve always wanted to live in Istanbul, now could be your chance to purchase a condo and get a passport in the process. But the government now offers inexpensive “COVID-19 Relief Bonds” as part of its citizenship-by-investment program. They discovered she had been manufacturing fraudulent visas. The donation to the National Development Fund (NDF) is the cheapest passport option in Antigua and Barbuda. Citizenship by investment is a process by which an individual obtains a second passport and second citizenship by investing in the country ― usually in the form of property investment. After a 35 year-long history of leading the field of economic citizenships, St. Kitts’ program has earned a stellar reputation. Moldova Citizenship by Investment Program - Official Website. The main reason why we remind our readers about certain residency or citizenship programs is that it’s always possible that such programs may become more expensive, be suspended, or even disappear altogether. Besides the Schengen area, the UK, and Brazil, it allows its citizens visa-free access to China, making it the only Caribbean country to do so. It’s definitely worth your while to sign-up, and if you don’t like it, you can unsubscribe at any time. But others are good for visa-free travel to over 150 countries and include nearly all of the developed nations, ranking these among the highest quality passports in the world. And adding additional dependents under 17 is an additional $2,000 per person in fees. And while I appreciate all the visitors who stop by our website, I provide special bonuses to our email subscribers… including free premium intelligence reports and other valuable content that I only share with them. Any foreigner entering or leaving Iceland must carry a travel document (a valid form of identity, like a passport). They first dropped in price after the 2017 hurricanes badly damaged a lot of the islands. With a second citizenship and passport, you are no longer beholden to one nation. Which countries offer Citizenship-By-Investment? That means there’s a possibility to recoup some of the money (minus fees) after the holding period is over. The shuttering of the program was followed swiftly by a European Commission announcement that it would be launching infringement procedures against both Cyprus and Malta over their programs. They offer both investment options and you don’t need to be a resident to be eligible. What's the cheapest Citizenship-By-Investment Program? At Sovereign Man, our opinion is that St. Lucia offers the best value citizenship by investment program in the world today for single applicants, and, thanks to its COVID-19 sale, one of the best deals for families. These sites were all singing her praises… and lining their pockets. But, for countries like Antigua and Turkey, that allow investments in businesses, you’ve got a few options across industries to potentially generate a return. We cover it below.). When you invest in government bonds, countries will often require up to five times the amounts required for outright donations. In that case, your investment will increase to $500,000. Its citizens cannot travel visa-free to the US, China, Japan, Germany, France or the United Kingdom… adding barriers to entering countries with a Gross Domestic Product (GDP) of $2 trillion or more. Iceland does not currently have a formal Residency by Investment or Citizenship by Investment program. Inside we share our most exclusive and lucrative opportunities that are too sensitive to broadcast across the Internet. Usually, promoters of citizenship-by-investment programs get huge commissions, but we don’t take a penny… instead we pass along 100% of our commission as additional savings to our members. A few citizenship by investment countries give you the option to buy government bonds, which locks your investment in an interest-free account for several years. This is called jus sanguinis – the right of blood – and many countries around the world recognize its citizens’ descendants as their own. Think of citizenship by investment as your shortcut to a second passport. It’s without a doubt a fantastic passport. A single applicant will spend $109,500 all-in for this second passport route. And these days, they represent two of the least expensive passports in the Caribbean. That’s why so many people have been looking to buy second citizenships. If you are in this situation, the only way you can completely escape the US tax system is by renouncing your US citizenship. Many countries in the Caribbean realized they needed a lot of money for rebuilding broken infrastructure. Its passport offers visa-free access to just 50 countries – excluding all the major developed nations. Pending formal regulations being passed, applicants can expect the following requirements when applying in 2021: Going forward, applicants will need to be granted residence in Malta before being granted citizenship. And consider subscribing to our free newsletter, Notes From The Field, where we share advice on how to make more money, keep more of it, and protect it all from frivolous lawsuits and overreaching governments. Iceland has a long-standing commitment to multilateral cooperation and a strong vision for an active & effective UNESCO. The Directorate of Immigration grants Icelandic citizenship and handles the processing of applications. The final European program is the Austrian citizenship by investment program, which is the most restrictive of all. For many people, there are far more cost effective ways to obtain this all-important insurance policy without having to write a big check…. After a certain period (typically 3 to 7 years), countries usually allow investors to sell the property. Yet a follow-up undercover investigation led to the publication of video footage strongly suggesting that the program’s due diligence was not up to scratch. There are many other fantastic, legal tax reduction strategies you can use– especially if you own a business. Although Grenada’s citizenship by investment program only started in 2013, it has quickly established itself as a serious player in the field. Use this sheet to ensure you don’t overpay for a passport that doesn’t provide significantly more value. A Cypriot passport grants visa-free access to 152 countries and ranks as number 82 out of 198 passports in our passport ranking. We cannot overstate the benefits of this. For investors who chose to invest in other Crypriot assets, the real estate purchase of €500,000 was added to their €2,000,000 investment. These programs are known as Golden Visas. Vanuatu is potentially setting itself up to be in the cross-hairs of illicit hackers, eager to exploit the government’s Bitcoin wallet. Your passport should be valid for at least six months beyond your planned date of departure from the Schengen area. While this may seem very similar to the program’s current regulations, we are expecting more stringent due diligence checks and background verifications at the residency stage. Despite popular belief there are very few European countries that offer residency through investment in real estate. St. Lucia reduced its price for a single applicant to $100,000 (plus fees) and is now, in our opinion, the best value out there. For example, some foreigners in the US are opting not to pursue American citizenship because it would subject them to taxation on their worldwide income for the rest of their lives. All-in costs with fees is now $372,500 for a family of four. You could save hundreds of thousands or even millions of Dollars if you consider these options first. rd You can get more details on Antigua and Barbuda’s official citizenship by investment website. And before you rush off to buy a second passport, we encourage you to first consider other options we’ll discuss here that may be a better fit. The most important thing you should ask yourself is WHY you need a second passport. According to Dominica’s official government website, “In order to qualify for citizenship, you must hold authorized real estate for 3 years from the grant[ing] of citizenship. This property must be selected from a list of approved real estate provided by the government, and it can be sold after seven years. Then there’s the business investment option, which requires $1.5M before fees (or $400,000 per person if the investment is made as a group). To apply, you will need to purchase real estate worth $250,000. You could invest in real estate, a Cypriot business that employs five local citizens, bonds or securities of a Cypriot business licensed by the Securities and Exchange Commission, or a combination of these choices. The “best” citizenship-by-investment option for you will depend on a number of subjective factors: your budget, if you’re OK with parting with a donation, or whether you’ll want an option that offers a possible return on your investment. A new version of the Icelandic passport will be unveiled today. Up until recently, St. Kitts real estate citizenship required an investment of $400,000. Whether you choose a foreign residency or a second passport via citizenship by investment, you’re on the right path. Ultimately, a second passport is all about options – the more options you have for you and your family, the more freedom you will experience. It offers 8 more destinations than our best-value pick, Saint Lucia. How did you like this article? As of now, Montenegro offers a decent passport a steep price (cheaper than Malta’s, but more expensive than those in the Caribbean, which offer similar – or better – passports). In return, applicants receive a passport good for visa-free travel to 116 countries, including the UK, all of Europe, Russia, Hong Kong and Singapore. A family of six had to pay close to $200,000. In Iceland. Most citizenship by investment countries offer two or more options to purchase a passport. You need sufficient funds and a return airline ticket. For example, if a Canadian citizen moves to Hong Kong, after fulfilling certain obligations before the Canadian Revenue Service, they’ll only be liable to pay taxes in Hong Kong. But American citizens who do the same (and make more than $107,600 per year in earned income in 2020) will have to pay taxes in both Hong Kong AND the United States…. However, if Montenegro joins the European Union (as it’s expected to in 2025), a Montenegrin passport could become substantially more valuable. The first one is a passport’s reputation. You may need to apply for a visa to be able to visit the US or Canada, for example. After a few years of residency abroad (and assuming you meet all the country’s other requirements), you can apply for citizenship and a second passport. Which country will give you a Second Passport, Where you can get a valuable Second Passport, four ways to obtain a second passport & citizenship. Both countries offer deep discounts for even larger families. You may be investing in a business that will go under in a couple of years. The country is rated as having one of the world’s highest levels of economic freedom. What's the best Citizenship-By-Investment Program? It is the first program of its kind to offer this unique combination of visa-free travel destinations. For more details or to contact an advisor please complete your details. Iceland has free trade with China. This can be both positive and negative, as it means they’re likely cutting corners in the due diligence of applicants, which in the future can damage the program’s reputation. (For reference, the world’s worst passports provide visa-free access to 60 countries or fewer.). It’s important to note that although Montenegro is listed in this section, its passport doesn’t actually give you the right to live and work in the European Union (EU). Iceland provides abundance of sustainable energy from hydro and geothermal resources, offers a European legislative framework and maintains a highly skilled workforce. It consists of 19 countries (all of them are in the EU) that have adopted the euro as their sole currencies. You can get more details on St. Kitts & Nevis’ official citizenship by investment website. Investor visa and citizenship by investment programme news. Again, the Foreign Earned Income Exclusion (FEIE) in 2020 allows US expatriates to earn $107,600 annually, tax-free. Then, within 12 months (or 36 months) of maintaining Maltese residency, you’ll obtain citizenship and a passport for visa-free travel to 158 countries. Total Access members can now obtain passports from Saint Lucia, as well as Antigua and Barbuda, for less than anyone else in the world. Iceland offers great opportunities for foreign investors where an advanced economy meets low corporate taxes and incentives for foreign direct investment. Finally, consider military service obligations that come with a new citizenship. Cypriot authorities were swift to deny these allegations, claiming that previously lacking due diligence issues had been addressed. But, if you’re not careful, you could become liable for more taxes. Citizenship by investment is exactly what it sounds like: foreigners invest a certain sum of money in a country in exchange for citizenship and a passport. And if you can’t find it, it’s probably a scam. And for the time being, Caribbean passports are on sale in a big way. Do you have a story about your time as an Expat in Iceland? Citizens of one EU country are free to study, work, live, and retire in any other EU country. There’s no easy method to obtain nationality, such as one where you make a generous deposit to the government and you’re given a passport a few months later. This brings us to the next point: an overview of where to buy a passport, and which countries offer citizenship by investment… one of which may stand out as the right one for you and your family. Another option is to invest in Europe and get European residency in a country that can eventually lead to European citizenship. Antigua and Barbuda’s list of approved business projects. Documents regarding purpose of travel to Iceland– which vary from one visa type to the other, and prove your purpo… One great benefit of living or having citizenship abroad can be the ability to minimize your tax burden. But because you’re buying a real asset, you might be able to recoup at least some of the money if you decide to sell. Grenada reduced its donation option from $200,000 to $150,000 (plus fees) for a single applicant. People want to have more freedom. In exchange for a $100,000 donation (with another $37,500 in fees for individual applicants and $45,000 for a family of four), you get a second passport good for visa-free travel to 129 countries, including the EU’s Schengen area, the United Kingdom and Brazil. We often do that, Savi and I, especially when driving. While St. Lucia, for example, will grant you (a single applicant) a passport for a $109,500 donation, you will need to cough up $287,500 if you choose to buy the new government COVID-19 relief bonds ($250,000 bond + $37,500 in government fees). At best, you will just end up with an expensive and useless piece of paper. They can structure a manufacturing business in southeast Asia and visit as often as they’d like. Malta, Cyprus, Greece, Latvia, Spain, Panama and Portugal all have Golden Visas that grant residency and ultimately can confer citizenship… if you meet the country’s naturalization requirements such as learning the local language and history. Not all passports are equal. This fund requires a contribution of US$150,000 from a single applicant, plus the government fee of $7,500. Applicants must keep the property for at least three years. At worst, you can get into serious trouble at a border control for using fake documents. Bulgaria’s citizenship by investment program is the world’s slowest, as it takes more than two years to obtain the passport. In any case, all current members of the EU that are not yet part of the Schengen are legally obliged to join the area in the future, so the membership is just a matter of time. For those who intend to keep their original citizenship (and their passport), this second factor is the one to consider. It has stunning natural features and some of the lowest crime rates in the Western world. Right now, in the COVID-19 era, is the best time in years to buy a second passport, because several Caribbean citizenship by investment programs are ON SALE. It ensures that, no matter what, you always have a place to go- to live,work, do business, retire, and in some cases, even seek refuge. Currently, there are several approved projects, and we expect the government to keep adding more options. Depending on the country, there are specific requirements for the investment you can make, and different benefits associated with the passport you acquire. No single government has exclusive authority over you. It made all the difference. Join over 100,000 subscribers who receive our free Notes From the Field newsletterwhere you’ll get real boots on the ground intelligence as we travel the world and seek out the best opportunities for our readers. This is exactly the type of investment I like to present to our members. (We’ll talk about less drastic mitigation strategies below.). And it ranks as number 71 out of 198 passports in our passport ranking. So, if you are an investor or business owner, you can use this strategy to slash your taxes to a negligible amount without giving up your US citizenship. This is rare, but has happened in extreme circumstances. Well, I’d rather not wait for my winning lottery ticket, bu… This is still a very competitive price tag for EU citizenship and the best value in the EU. Obtaining a second passport could be one of the best investments you’ll ever make. You can get more details on Malta’s official citizenship by investment website. We can help you with immigration to Iceland. With a top-tier passport from a place such as Malta, your chances of ever encountering this issue are rare. Transfer funds to account number 0515-26-410424 in the Central Bank of Iceland, Íslandsbanki hf. A second passport is an insurance policy designed to protect you against various sovereign risks. There are lots of options for business, so it doesn’t shock why many business people seek for residency in this country. The good news is that this seems to be the case only in the Caribbean and Vanuatu, as all other countries do allow the passing down of citizenship indefinitely. That’s an obvious downside. Citizenship by investment is the process of obtaining a second citizenship and passport by investing in the economy of the host country. Grenada’s passport offers visa-free travel to 122 countries. The other option is to buy an approved piece of real estate. You can get more details on Vanuatu’s official citizenship by investment website. We chose St. Lucia and Antigua because we believe these two options offer the best-value passport for the money, and the application process in both countries is very transparent. You can expect to receive your passport in just 45 days. That could mean significant tax savings for you and your family as well. In China, for example, increasing political crackdowns and strict capital controls are spurring individuals to seek second passport solutions in Europe, Canada, the US and the Caribbean. If not, you can get a residence permit only if you marry an Icelander or study or work in Iceland. After six months of an obligatory residency period, you could then have obtain the passport. How do you like this article? With fees, the total is $220,000. Instead, it takes advantage of Article 10 (6) of the Austrian Citizenship Act, which states that the government can reward foreign persons with citizenship in the event of extraordinary merit. This individual could reside in France, incorporate and run a business in low-tax Ireland, and enjoy passport-free travel to 26 countries (Europe’s Schengen Area). Adding a spouse is only another $8,000 in fees. Click one of the stars to add your vote... Other readers gave this article an average rating of 4.8 stars. And $20,000-$50,000 less than what other providers are charging. European Countries – Real Estate Golden Visas. Kopavogur, Iceland. You’ve still got a place to go, no matter what happens in your home country. (Kids older than 12 require paying an additional due diligence fee.). Although St. Lucia is now a close second,Antigua and Barbuda’s passport is still the best value for families compared to all other options. It is a residency which can eventually lead to citizenship through naturalization. St. Kitts & Nevis’ official citizenship by investment website. It offers several ways to obtain a Jordanian passport, but none of them are cheap. Alternatively, you can deposit $500,000 in a local bank for at least three years. This discount of $45,000 is set to expire December 31, 2020. Interestingly, Bulgaria allows applicants to finance their investment amount through a loan from a European bank. Programmes start from a minimum $140,000 including costs. For applicants who chose to buy real estate, this residence could be included in the €2,000,000 (plus fees) overall investment. Keep in mind, however, that on top of the donation/investment amount and the government fees, you’ll have to pay a commission to an agent who will lodge your citizenship application with the government. Vanuatu is an archipelago located about 1,000 miles east of Australia. Montenegro is home to a brand-new CBI program. Malta was home to the first European Union-approved citizenship by investment program. If someone offers you a passport for $30,000 somewhere in Nicaragua and promises to get it to you in a week, you’d better hold onto your money. The second passport industry is no exception. The Iceland visa requirements are grouped into two categories: 1. This strategy would, for example, make sense for financial professionals who are employees working overseas and earn significantly more than the Foreign Earned Income Exclusion (FEIE) limit allows. The Caribbean Islands of St.Lucia, Dominica, Grenada and Antigua & Barbuda process Citizenship/Passport by Investment requests within 6 months of receiving an application. You’ll find everything you need to know in this article– whether you are looking for the best, the cheapest, a European or a Caribbean citizenship and passport. But not everyone is blessed with the ancestral line that grants them a second passport. Citizens of countries like these have usually lived through some catastrophic events in their country’s history and remember them well. The quickest and most direct path to a second passport (no matter who your parents are, where you are born, or where you live) is through an officially recognized citizenship by investment scheme, maybe there will be a Iceland Citizenship Program in the future. Luckily, the US is the rare exception – in most other countries, citizenship comes with no additional tax obligations if you don’t live there. The European Union is a political and economic union of 27 European states (after discounting the UK) with a single market allowing for the free movement of people, goods, services, and money. 2. But, we only offer this service to members of Total Access. Many of our members made 20 TIMES their money and in total our group saw over $100 million in gains…. Any foreigner who surrenders his passport to the police or other authorities in Iceland shall be provided with a receipt evidencing its delivery. If You Are The Holder Of A “Bad” Passport... Investment Options For Citizenship By Investment Programs, Citizenship By Investment Programs & Countries, Download our Citizenship By Investment Comparison Sheet, Easiest Citizenship & Passport Comparison Sheet, Which options allow you to obtain a second passport. Immigration officers are not immune to racism, and some may not trust your travel document if you personally look nothing like the people from your adopted country of citizenship. 82 out of 198 passports in our passport ranking, Saint Lucia’s official citizenship by investment website, 76 out of 198 passports in our passport ranking. And after living there for approximately five years, you can apply for citizenship. And if you are an American, obtaining a second citizenship could also mean saving BIG on taxes, if eventually you decide to renounce your US citizenship. Montenegro is home to a brand-new CBI program. Overall it ranks as number 61 out of 198 passports in our passport ranking. 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