Investing in Identity: The Ultimate Guide To Citizenship By Investment

In the last decade, the revenue generated from investment migration programs across the globe has tripled. With a steady growth rate, this investment basket is expected to surpass USD 100 billion by 2025. This wave is not surprising considering that more people - up to 750 million are ready to move to a new country for investment if they get a chance.

As the world becomes more interconnected, citizenship in more than one country becomes more popular. The reasons for this shift are understandable; dual citizenship offers access to better opportunities. From investment to improved life quality, getting citizenship through investment- which is the easiest option can be rewarding.

If you are considering investing in another identity by getting a second passport, you must know how to navigate investment migration. Fortunately, this guide provides you with a road map and crucial tips to citizenship by investment, so read on for crucial tips:

What is Citizenship by Investment (CBI)?

Understanding CBI starts with looking at the core: What is citizenship? You can think of it as a deal between an individual and a country. Under this agreement, you promise to adhere to the rules and regulations. The government reciprocates by giving you rights and creating an enabling environment with quality healthcare, education, and business opportunities.

Citizenship by investment is a program designed to allow countries to grant citizenship to foreigners in exchange for their investment into the society. It will enable investors to bring capital and stimulate the economy, and in exchange, they enjoy the same benefits that the citizens get.

Before 1984, dual citizenship was primarily possible through birth, marriage, or naturalization. However, the desire to improve global standing and citizens' lives has led to the popularity of the CBI program in many countries worldwide.

However, not all countries present the same benefits to dual citizens by investment. As such, you must look for one that offers better living conditions and a business-friendly environment. Turkish citizenship by investment is at the top of everyone's list because it's easy to get one and offers favorable living conditions and friendly policies for businessmen.

Ways to Get Dual Citizenship By Investment

Citizenship by investment is a sure way to gain a new passport without going through a rigorous process like taking the exam. Additionally, with this option, you don't need to live in the country throughout for the citizenship to be valid. Simply pick the ideal investment option and submit your application.

Here are the different paths you can consider for citizenship in another country:

1. Invest in Real Estate

Real estate investment through buying land or shares in existing properties like villas and hotels is a perfect investment option. The good thing with this route is that your money generates profits over time. But there’s a threshold, like a minimum investment of around $400,000 for citizenship.

2. Donate to a National Economic Fund

Donating as little as $100,000 (non-refundable) to a fund, usually to support government projects, is another route for citizenship.

3. Buy Government Bonds

You can also purchase government bonds, helping a country raise money to run its programs. Other than special guaranteed interest-free bonds, your investment gains returns after holding for about 5 years.

4. Provide Capital for Investment

Investors also have the option to choose a project to support through capital contributions to startups or SMEs. By making a capital contribution, you help create employment opportunities, hence qualifying for citizenship.

How to Apply for Citizenship by Investment

·         Pick a suitable investment option: Different CBI options have varying qualification criteria, benefits, and rules between countries. Take your time to understand them before starting your application.

·         Have a legitimate income source: Enough money in your bank doesn't mean your application will go through automatically. For security concerns, countries vet applicants to ensure the funds originate from legal sources. As such, you need to provide proof of your income source.

·         Be clean of criminal records: A clean criminal record is a must to be eligible for citizenship. For this, you must provide a certificate of good conduct from the countries you have stayed in for a reasonable period, usually in the last 10 years. 

·         Proper documentation: You must provide proof of identity and various qualifications with original, up-to-date, and accurate official documents. They range from personal identification documents and financial statements to health and background checks.

Conclusion

Investing in another country is a good decision if you want to expand your investments or spread risk by venturing into promising economies. But like in any other investment, don't be in a rush; research to first understand the program and find a perfect destination to avoid any surprises.

While you can complete the application on your own, it's advisable to work with a recognized agent. This way, you can be thorough in the application, ensuring you meet all the requirements and improving your chances of success.