Our world is never a static place, and neither are mobility solutions. The citizenship by investment programs (CBI) from all over the world have seen many relevant changes through 2022.
To begin the new year updated, there are the most important changes that took place:
- Portugal’s Golden Visa has changed the minimum amount of investment required in several categories: Investments in capital deposits to science and research ventures will rise significantly. Capital investments have increased from €1 million to €5 million; investment funds from €350,000 to €500,000; research and development amounts from €350,000 to €500,000 and minimum real estate investment amount from €350,000 to €500,000. Investments in residential properties will exclude the country’s prime real estate in areas such as Lisbon or Porto. Only property investments inland and in rural, low-density area are eligible.
- Spain’s new Startup Law was reformed in order to attract more international talent and businesses to the country and make mobility easier. It includes tax benefits for remote workers and simpler and faster documentation process. Startups will have better terms like reduced corporate taxes (15% instead of 25%) and remote workers will be eligible for reduced income taxes (a flat 15% for incomes up to €600,000).
- The minimum investment required by Kitts and Nevis citizenship by investment program for a family of four will revert back to pre-2020 after June 30, 2023. The main applicant will be charged US$150,000, main applicant and spouse US$175,000, Main applicant, spouse and two dependents US$195,000. Each additional dependent under 18 years old will be charged US$10,000, and those over 18 years old US$25,000.
- Panama’s Golden Visa will become more expensive. The minimum amount required for real estate will rise from US$300,000 to US$500,000 in October 2023.
- Russia is launching a new Golden Visa program. Different minimum investments have been suggested but it seems likely that a minimum of 10 million rubles or US$100,000 will be required for business investments and 30 million rubles for real estate. The Middle East is the target market and although the Russian passport is not comparable to EU it is still stronger than Middle Eastern. Russia’s program will also offer a 3-year path to citizenship.
- Montenegro citizenship by investment program has expired on December 31, 2022 and will no longer offer the citizenship by investment program.
- New citizenship by investment programs are brewing in Europe, another in Africa although the launch date is uncertain due to political circumstances, and yet another in a country in the Americas that is currently offering only a residency program.