There are many ways to obtain a second passport. If you need the fastest and simplest option, consider citizenship by investment. This three-part series serves as a complete guide for Russians, Belarusians, and Ukrainians who wish to obtain economic citizenship. It will help you understand what citizenship for money entails, what benefits it provides, where and how to obtain it, and which investor passport will be optimal for a specific individual.
When consulting with experts in investment migration, many people behave as if they are communicating with rocket scientists. The information presented below may indeed sound like content from a beginner's textbook on rocket science.
But nobody is planning to send you to the Moon. Instead, we set out to help you go where you will be treated best, enhancing personal freedom while multiplying and protecting your capital.
One of the most powerful tools you can use to achieve this goal is an additional passport. Many believe that possessing a collection of passports is only possible in the realities of spy novels, where characters like Jason Bourne and James Bond travel the world with a dozen such documents and a lot of money.
These days, passport collections are no longer the prerogative of fictional spy heroesāthey are increasingly found in the pockets of successful businesspeople, investors, and other ordinary individuals with a global mindset.
There are many ways to obtain a second passport, but the quickest way is to simply 'buy' one. Yes, you read that correctly. This process can be referred to as 'passport purchase,' 'economic citizenship,' or 'citizenship by investment'āall these terms mean the same thing.
Certain governments are willing to grant you citizenship and a passport in just a month and a half or a year (depending on the accepting country) in exchange for significant investments or donations to their economy. Sounds interesting? Read on! This article will cover the following topics and answer the following questions:
- What is economic citizenship?
- How to determine if a country offers citizenship by investment?
- What benefits does a second passport provide to an investor?
- Citizenship by investment should not be confused with thisā¦
What is economic citizenship?
Before applying for a second passport and citizenship for money, it's important to understand the basics. First, what is citizenship? Essentially, citizenship is the embodiment of a social contract: an agreement between individuals and society to work together for mutual benefit.
In these symbiotic relationships, a citizen takes on certain responsibilities such as obeying the law, paying taxes, and serving in the military. In return, the state provides a variety of rights, including the right to vote and work within its territory.
In the last century, an additional right fell under the jurisdiction of states: the right to restrict cross-border movement of people. As the world developed and became more interconnected, states began to rely on passports to control who has the right to enter and leave their territory.
As a result, a passport has become one of the most valuable things that a state can offer a citizen in exchange for their contribution to societal development. Passports from different countries vary in their usefulness to travelers, prestige, and other parametersājust as the rights and responsibilities of citizens vary depending on the state.
Traditionally, citizenship was granted through birth, naturalization, and marriage. Sometimes it was awarded for special achievements in culture, sports, or science. But in 1984, everything changed: the possibility emerged to obtain citizenship quickly through investments.
One of the primary duties of a citizen is to contribute to the economy of their country of citizenship. Many states in the Western bloc tend to abuse this obligation, demanding high taxes.
However, not all countries are like that. Low-tax states that offer economic citizenship have determined that individuals making significant contributions to their economy through repayable long-term investments or one-time donation grants fulfill this obligation and therefore deserve citizenship.
Thus, economic citizenship is a special mechanism through which a person can apply for a second passport by investing in another jurisdiction. It is intended for affluent individuals who wish to quickly obtain dual citizenship and a second passport or even multiple citizenships and an entire passport collection.
How to determine if a country offers citizenship by investment?
Not all programs that provide economic citizenship are the same. This can often create confusion regarding which schemes are legitimate. Let's clarify. There are only 5 criteria you need to remember to determine whether a specific jurisdiction legally offers citizenship for money:
- Fast processing: There are other ways to obtain an additional passport that are not as expensive as economic citizenship but require more time and effort from you. The advantage of investment citizenship is that it is a fast process. Malta is the only country that issues citizenship by investment, with a passport waiting time of over a year. In all other relevant countries, the procedures take only a few months.
- Commodification: The commercial nature of all investment citizenship programs means that almost anyone, regardless of nationality, religion, or language skills, can become an economic citizen. Whether you are from Pakistan or the United States, you can obtain a Dominica passport for the same price. Local authorities will treat any candidate with the same friendliness, provided they pass a thorough background check. The only difference is that the assessment of a Pakistani applicant may take longer (by a few weeks) than that of a U.S. applicant. Otherwise, they donāt care where you are from. Just make the payment and receive your passport.
- Structured: Any citizenship by investment scheme must have a clear structure. This means fixed investment amounts and a clear path to obtaining a passport. Such programs operate almost like any regular business. Therefore, any country offering a
- Legitimacy: It may seem obvious, but a legitimate citizenship by investment scheme must be clearly established either in the constitution of the host jurisdiction or in its immigration legislation.
- Simplicity: Most states granting economic citizenship do not require applicants to relocate or reside in their territory (exceptions include Antigua, Malta, Cyprus, and Turkey). No such state requires applicants to speak its official language, pay taxes into its treasury, or fulfill any other requirements besides making a capital contribution and proving lawfulness.
What benefits does a second passport provide to an investor?
Now let's consider the advantages of obtaining economic citizenship.
- Lifetime second passport: Alternative citizenship can be guaranteed for lifetime use, provided one does not commit any serious crimes or tarnish the image of the new homeland in any way.
- New citizenship for the whole family: The new passport and citizenship through investment can be obtained not only by the main applicant. If the candidate is not single but a family man, he can include his spouse and children in the application. Some states allow adding parents and siblings to the application.
- Instant passport with no extra effort: You can acquire a second passport through investment in as little as one and a half to twelve months (depending on the jurisdiction). Wealthy individuals with good health and a clean reputation can take advantage of the simplified process for obtaining this document. Typically, there is no need to travel to or reside in the host jurisdiction.
- New citizenship for the simple renouncement of current citizenship: The new investor passport can be used to renounce current citizenship and save on taxes, avoid conscription into the armed forces, or resolve any other issues.
- Tourist Privileges: Visa-free access to the UK, Ireland, Hong Kong, Singapore, Central and South America, and Southeast Asia, as well as Schengen countries (or even the right to free movement within Schengen) ā all of this can be obtained by acquiring economic citizenship.
- Tax Planning: Citizenship by investment will not automatically change your tax status, but if you want to enjoy a tax-free lifestyle, this is indeed a good first step. By living in the host country for most of the year and becoming its tax resident, you may even avoid paying personal income tax on income from sources worldwide (relevant for passport holders of St. Kitts, Vanuatu, and Antigua).
- Best Insurance: If you need the best backup plan, then 'buying' a passport is the optimal option. By acquiring economic citizenship, you obtain the ultimate insurance policy and a reliable tool for diversifying geopolitical risks.
Citizenship by investment should not be confused with thisā¦
Not all of the advantages listed above may be of interest to every candidate, but unscrupulous immigration agents overlook this, forgetting about the personalized approach and trying to sell their 'product.'
At the same time, poor recommendations are just the 'tip of the iceberg' when it comes to misconceptions about what, where, why, and how you can obtain a new passport and citizenship for money. Let's put an end to this here and now! Let's clarify which documents should not be confused with an investor passport.
1. Passport for Exceptional Merit
There are many programs that appear to be investment citizenship schemes because they include some financial requirements and involve the issuance of citizenship upon their fulfillment. However, they are usually not structured and not commoditized. They also do not offer high speed.
To describe these hybrid schemes, it is best to use the category of exceptional citizenship. You may be able to purchase real estate in Cambodia or donate 3 million euros to Austria and obtain a second passport through a transaction, but these programs are largely subject to political whims and are not available to every applicant. This is not true citizenship by investment.
2. Golden Visa
Residency (temporary or permanent residency) by investment or golden visa is not the same as economic citizenship. Numerous countries are willing to grant residency to foreigners who invest money in their economy, but this form of residency does not guarantee that the applicant will eventually obtain citizenship. A golden visa only grants the right to enter the respective country and reside there year-round.
Different countries have various criteria that a person may meet to qualify for residency: from job offers and business establishment to marrying a local citizen. Some countries have decided to add an additional option, allowing foreigners who make investments to reside in their territory without resorting to other criteria.
But in this case, it only concerns the permission to become a resident. Once a person becomes a resident, they can be naturalized just like anyone else. There is certainly no talk of citizenship by investment.
This is the situation with many golden visa schemes in Europe. Similar programs, for example, operate in Greece and Spain. Although you may ultimately receive a second passport through an investment deal, it will require at least five years of residency, and you will need to learn the language of the host jurisdiction.
Furthermore, you must live in the territory for most of each year during the naturalization period, which incurs certain tax obligations to the host jurisdiction. The only exception is Portugal, where permanent residence is not required.
Compare this with the schemes for obtaining economic citizenship in the Caribbean, where there is no waiting period for naturalization (aside from waiting for the review verdict and processing procedures, which only take a few weeks). You make the investment and receive citizenship.
3. Passport through a ghost program
Due to the abundance of misinformation and the activities of numerous incompetent immigration agents, some individuals seek to obtain a passport through investment citizenship schemes that either never existed or existed for a certain period but were later canceled.
For example, in recent years, the programs of Moldova and the Comoros have been suspended. Previously, it was also possible to obtain Irish citizenship through investment, but that scheme was once again suspended, and its operations have not resumed since.
There are also situations where a country announces an investment citizenship program but then fails to follow through. Recently, rumors circulated that Armenia was planning to introduce such a scheme. However, after the change of government, that idea was abandoned.
Documents issued through fraudulent schemes
There is also the issue of fraud. We receive many questions from readers about various programs and must unfortunately confirm that these are scams. Do not be surprised if the websites promoting these fraudulent schemes suddenly disappear.
The key to effectively and safely using a second passport is to obtain this document legitimately. Avoid any programs that involve paying money to corrupt officials. A legal investment citizenship scheme must be outlined in the laws of the host jurisdiction. If the person promoting the program cannot point you to its legal basis, simply cease communication with them.
Remember that economic citizenship is commoditized and structured, and is processed simply, legally, and quickly. Anything that does not meet these five criteria is not citizenship by investment. This does not mean that other immigration routes will not work for you (as long as they are not illegal), but it is important to know what you are getting into.
Stay tuned. If you enjoyed the first part of this guide, keep an eye out for updates. The second part will cover countries that offer citizenship by investment, along with the requirements for applicants seeking economic citizenship.
Any questions? Ask them in the comments!
Source: habr.com
