Programs that allow wealthy people to obtain a second citizenship and move to a prosperous country after investing financially in its economy are pretty popular today. In this way, people can expand their business, open a new direction, and provide their families with a stable future. One can include one’s spouse, parents, and children in the application. Today, many countries offer attractive CBI programs, and choosing one is often quite challenging. To make the right choice, several factors should be taken into account. Let’s discuss them further in this article.
Factor 1: Investment Amount and Type
One must study its conditions before deciding on a country and program. There are many options with different investment amounts. You should look for what suits your budget and consider the proposed investment methods. It can be residential and commercial real estate, government securities, charitable funds, companies, etc. For example, in order to obtain a Greece Golden Visa, a foreign investor will have to invest in real estate in the amount of 250 thousand euros. It is also necessary to calculate the potential profit from the investment. Please note that if you participate in one or another program, you will have to pay additional fees for complex verification and processing of the package of documents, fees for each family member, etc.
Factor 2: Processing Time and Efficiency
You should also initially clarify the timeframe for obtaining the desired status. You can expect the whole process to take just a few months in one country. In another, it may take years. If you need to move to another place to live and work more quickly, consider such options as Turkey, Dominica, St. Kitts and Nevis, Vanuatu, and St. Lucia.
Factor 3: Visa-Free Travel and Global Mobility
Today, a second passport provides its holder with visa-free travel or a visa upon arrival in various countries. When choosing a citizenship program, it is essential to consider all the benefits of visa-free entry and to know the destinations and countries available to the investor. Choose options that fit your business travel and travel preferences so that the program provides you with the level of global mobility you desire. Whichever state you choose, the list of destinations where you can fly without visas is usually quite extensive.
Factor 4: Economic and Political Stability of the Host Country
Another criterion for popular CBI programs is the stability of the country you are considering for relocation. It should be comfortable and safe for you and your family, and you should see positive prospects for life, development, recreation, study, and work. A peaceful environment and a thriving economy are important factors to consider first. For this, you need to carefully study the information available on the Internet or contact a specialized agency for advice. This issue is covered in detail at immigrantinvest.com.
Factor 5: Residency Requirements and Family Inclusion
Today, the requirements for the applicant’s place and period of residence in the programs can differ markedly. These often require permanent residence in the host country. However, some countries do not care where the investor and his family will live. And even the documents are accepted online. These factors affect the applicant’s business activities and can be crucial to the decision. According to Immigrant Invest specialist Zlata Erlach, the remote application format is very popular with potential investors, and the lack of residency requirements increases the attention of applicants to the country and its citizenship by investment program.
Factor 6: Tax Implications and Financial Benefits
Countries with the lowest taxes and promising financial opportunities are often chosen for relocation. For example, the lowest income tax rates in Europe are in Hungary (15%), Estonia (20%) and the Czech Republic (23%). The lowest VAT rate is 16% in Luxembourg. Many applications are submitted for participation in the St Kitts and Nevis Citizenship Program. The reason is low taxes and favorable conditions for starting a business.
Factor 7: Long-Term Citizenship Benefits and Rights
No less important are other parameters that must be clarified. Discuss them with your family when deciding because it is on these parameters that the comfort of your life in a new country will depend.
Carefully study all the requirements and conditions of the program to avoid unpleasant surprises. In particular, the goals, investment options, safety and stability of the host country, and many other benefits. It is also recommended to consult with specialists of a specialized agency, who will tell you in detail about each option and help you find the best one. They will also provide legal support at each stage of the program and help prepare documents to get confirmation and realize your dream faster. Do not delay the opportunity to move to the EU or a Caribbean country; give yourself and your family new, excellent prospects for a comfortable life, study, and work.
