That’s a set of really flexible rules. Also like St. Kitts, the passport gives you visa-free travel to 132 countries and is ranked 24th. Expect it to cost around $1.85 million “all in.”. Since I first wrote this article, there has been a huge proliferation of citizenship by investment programs around the world and, in 2020, there are 12 programs currently available: If you don’t want to get into the full detail of each of these programs and want a little shortcut, we’ve got you covered. Best of luck! Yet, since it’s quite a new CBI program, it’s going to be interesting to see how it plays out. What makes it an especially hard decision now is that you can buy many of those passports on sale. Such a business is expected to employ a significant number of people and generate taxable income. For example, Ukraine will probably be removed from the list. Now, let’s move out of Europe and into the Americas, namely the Caribbean. This, in turn, means you must prove a legitimate connection to the country. You must have a new passport in hand before you dump your blue travel document. One unconfirmed report indicated that the government had to be bullied into re-issuing economic citizens’ passports after they expired five years later. I’d recommend a different passport since the Canada thing and other attention over the years. It’s also got a solid reputation. Hi Ali, here is how we can help: https://nomadcapitalist.com/shop/nomad-strategy-call/. Does Panama accept dual citizenship after naturalization? Golden Visa programs like those in Portugal and Greece will eventually yield a second passport, but it will take at least five years or more. A second passport from an EU country (Bulgaria, Hungary, Malta, Cyprus or Austria) also gives you the right to live and work anywhere in the European Union. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, Second Residence: How to Get a Residence Permit Overseas, The Best Citizenship by Investment Programs, Citizenship By Descent: How to Get an Ancestral Passport, International Investment: How to Invest in Emerging Markets, Malta’s citizenship by investment program here, Montenegro’s citizenship by investment program here, Turkey’s citizenship by investment program here. For a bespoke plan, apply for a consultation. Currently, the fate of the scheme is set to be decided in September of 2020 and Moldova will not accept any new applications until September 2021, if they accept them at all. Alternatives to Citizenship by Investment, Unless you’re a US citizen in need of a second passport to reduce your tax obligations (these people don’t have any alternatives but to. Lots of red tape. Even so, you still have to buy what has been approved by the government; you can’t go out and find the real deals. If anyone tells you different, or they claim to have a guy who can “hook you up,” run the other way.Â, A Word of Advice to US Citizens on Second Passports. It won’t give you the Schengen access or the right to live in the European Union, but it’s standard of living, especially in Istanbul, is similar to Europe. It will take two years to get your passport and requires you to visit Bulgaria twice. Grenada does charge a premium, but you may find the extra investment worth it for access to China, Russia, and the United States. In many cases, we’ll often tell our client to get a cheaper economic citizenship and pair it with a European Golden Visa. If we ranked the twelve citizenship by investment programs based solely on travel privileges, Malta would come in at number one, followed by Cyprus. Residency by investment is not the same as citizenship by investment. then why do you need E2 in that case………………….. Why wouldn’t you buy real estate in Moldova again? Learn more about Turkey’s citizenship by investment program here. This site uses Akismet to reduce spam. If you purchase real estate in the less-populated skiing and agricultural regions in the north, you must invest at least, . I have six member in my family. In fact, it’s one of the longest naturalization timelines on earth. Here’s everything you need to know to buy the best second passport in 2016. The answer is in the name: citizenship you obtain by making an investment. Now it’s closed! Hello, I’m an elite athlete and I’ve heard of some in my situation who have obtained citizenships through excelling in their sports, would any if you be aware of a country that might offer this, how would you go about it and is there anything I should know about this subject? Citizenship-by-Investment programs offer you the opportunity to legally acquire a new nationality and an alternative or second passport quickly and simply, without major disruption to your life. Vanuatu, St. Kitts, & Antigua and Barbuda. This was a big issue back in 2014. Your spouse qualifies for an additional US$20,000. It is the only program of its nature that grants access to both the European Union and the borderless Schengen Area. Do I Need to Report my Offshore Real Estate on IRS Form 8938. Ok, some might say that Turkey isn’t fully European, but we decided we’ll give it the benefit of the doubt. Sure, Antigua and Barbuda offers more options for investing, but it really depends on whether you’re single, married, or have a family to determine whether Antigua delivers the best value for you. Can you please elaborate on the following statement in the article. Please see my Second Passports page for details. For the sake of simplicity, we’re going to consider three citizenship by investment programs to be European: Malta, Montenegro, and Turkey (Cyprus canceled its program on November 1, 2020). Countries began blocking St. Kitts citizens from entry on grounds that the passport could be used to facilitate terrorism. Russia, in 4th position, is a unique opportunity. Because this is a new program, very few second passports have been granted. For more information, see: The Cost for a Second Passport from Bulgaria will Double Next Year. In the face of a global pandemic, CBI countries have lowered their prices or even launched special deals to claim the cheapest citizenship by investment program title. I guess you really have gone to where you are treated better. If a passport’s value were wholly defined by its travel privileges alone, the United States would have among the world’s best citizenships and no one would be calling us to ask for help renouncing their US citizenship. Required fields are marked *. It’s the most valuable passport available for purchase, the best EA passport, and offers visa-free travel to 171 countries. A group 1 passport gives you visa-free travel to 174 countries. The long timeline and complex requirements reflect the fact that – thanks to benefits like EU membership, Schengen access, and US visa-waiver privileges – Malta has more organizations to appease. That allows you to invest in real estate years in a third world country are treated better be fully into! 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