Diversifying your investment portfolio can not only offer you higher returns or lower risk but sometimes investing can also mean obtaining additional intangible benefits. A second nationality that allows the holder to travel visa-free to about 150 countries is one of these intangible benefits. In this way, whether one is a recurrent investor or one-time investor, there is the opportunity to evaluate multiple possible investments in different countries without the need to apply for a visa each time.
Citizenship by investment programs to obtain a second nationality
Several countries in the in Europe and the Caribbean have citizenship by investment programs that offer a residence permit or even a second passport in exchange for an investment or donation that include, among many other benefits, a relief from global taxation. The citizenship by investment programs can protect your wealth and family from financial and political turmoil.
There are five Caribbean countries that offer the citizenship by investment program. These are St. Kitts and Nevis, Grenada, Antigua & Barbuda, St. Lucia and Dominica. Through a donation to the government or real estate options, an applicant can avail of a second passports and visa-free travel to over 150 to 160 countries worldwide including the EU Schengen area, the United Kingdom, Hongkong and Singapore. The value of the donation varies according to the country requirements and the amounts range from a minimum of US$100,000 to US$150,000. For real estate, the minimum amount is US$200,000 to US$400,000. Processing time for the second passport is only between sixty to one hundred twenty days for the Caribbean countries.
Europe also has citizenship by investment programs that offer a variety of investment options designed to cater to each family’s requirements and grant the applicant residency for a number of years after which they can apply for citizenship and a second passport. In Europe, the countries that have this program are Spain, Portugal and Greece where the purchase of real estate will gain the applicant a residency permit that includes the full family. The value of the real estate investment is from a minimum of €250,000 to €500,000 depending on the country program and the type of real estate. The amount of time required to gain citizenship and a second passport varies from two years in Spain for citizens from former Spanish colonies like the Philippines, some South American countries and Equatorial Guinea to ten years for citizens of other countries. For Portugal, it is five years and for Greece it is seven years to citizenship and a second passport. Spain, Portugal and Greece do not have a minimum stay requirement that gives the holder the flexibility to travel visa-free throughout the European Union Schengen zone. Portuguese citizenship and a second passport holders can live, work and study anywhere in the European Union. The Spanish citizenship by investment program is for those who wish to reside full time in Spain or simply maintain a second residency in Europe but without a path to citizenship.