Citizenship by Investment: What's That?
The world as we know it is changing at breakneck speed; anyone who has read the book ‘The Sovereign Individual’ in the past knows exactly, what I am talking about. New technologies, such as blockchain and cryptocurrencies, enabled many people to live their lives in a very different way.
Nowadays, if you want to, you can operate a business without being objected to any specific nation state. You can work from where ever you want, when ever you want, with whom ever you want, while facilitating payments via cryptocurrency - a whole new world of possibilities was created, predicted by the authors of ‘The Sovereign Individual’.
One possibility, however, is not talked about very much about - so far, that is!
What Does ‘Citizenship by Investment’ Mean?
Citizenship by Investment (short ‘CBI’) offers individuals the opportunity to acquire the citizenship of a country in exchange for a financial investment, thus providing benefits to both, the investors as well as the host countries.
This article explores the key aspects of CBI, including its benefits, the process, popular destinations, and potential challenges.
Benefits of Citizenship by Investment
One of the most significant advantages of CBI is enhanced global mobility. Citizens of certain countries enjoy visa-free or visa-on-arrival access to numerous destinations. For example, citizens of St. Kitts and Nevis, a popular CBI destination, can travel to over 150 countries without a visa.
Investors often seek CBI to gain access to new markets and business opportunities; or to profit from low income and capital gains tax rates as entrepreneur or high networth individual.
Most CBI programs allow investors to include their immediate family members, such as spouses and children, in the application. This means that the benefits of new citizenship extend to the entire family.
The Process of Acquiring Citizenship by Investment
If you are interested in acquiring a citizenship by investment, the first step of course is to choose the right program, that aligns with your needs and preferences. Factors to consider should include for example the investment amount, benefits offered, and the reputation of the host country.
Common investment options include real estate, government bonds, business ventures, and donations to national development funds. Each program has specific requirements and minimum investment thresholds.
The application process typically involves due diligence checks, submission of required documents, and payment of processing fees. This stage can take several months to complete; to speed this process up you can use a service provider like CitizenX.
Once the application is approved, the investor is granted citizenship and issued a passport. Some countries require a ceremonial oath-taking, while others may issue citizenship documents directly.
Conclusion
If you are unhappy with your home country / your government / your tax rate / … and you are either looking to acquire a citizenship to live in a different country permanently, or just to increase your hypothetical options in the future, those ‘Citizenship by Investment’ programs are your best shot.
At this point, let me recommend CitizenX to you, the leading service provider for Citizenships by Investment!