You can get more details on St. Kitts & Nevis’ official citizenship by investment website. What's new in 2020? For example, although these programs are collectively referred to as “investments,” in many cases, you won’t actually get your investment amount back. This type of visa grants residency to skilled immigrants – and especially those with skills in high-demand fields such as engineering or medicine. It’s important to note that although Montenegro is listed in this section, its passport doesn’t actually give you the right to live and work in the European Union (EU). What Countries Can You Enter Visa-Free With a Citizenship-By-Investment Passport? (Only Ireland and the UK – so long as it’s still part of the EU — are eligible for an opt-out.). It’s almost as good as a second passport. Several countries within the EU have introduced the golden visa to beneficial economic effect. It ranks as number 48 out of 198 passports in our passport ranking. And while I appreciate all the visitors who stop by our website, I provide special bonuses to our email subscribers… including free premium intelligence reports and other valuable content that I only share with them. You can still go this route, the benefit being that you are allowed to sell the property after five years instead of seven. Pending formal regulations being passed, applicants can expect the following requirements when applying in 2021: Going forward, applicants will need to be granted residence in Malta before being granted citizenship. Registers Iceland has been working on this new version, which includes added security features, as well as new interior illustrations of landscapes around Iceland and the Golden Plover, for two years. Getting citizenship by descent should still be the first option you look at, because you may be eligible for a very high-quality European passport that could be even better than your US passport. A foreign national who has been resident in Iceland for a specified period may apply for Icelandic citizenship if he/she meets the statutory requirements set. However, if Montenegro joins the European Union (as it’s expected to in 2025), a Montenegrin passport could become substantially more valuable. You may need to apply for a visa to be able to visit the US or Canada, for example. As residency visa programmes within Europe compete for international investors more countries are set to... Belmont House, Belmont Road, Uxbridge, UB8 1HE. A number of these countries offering citizenship by investment have relatively high levels of debt, and are not considered prime lenders, meaning they won’t be able to borrow their way out of trouble should anything happen. Unlike most programs, Austria’s is not codified in law. Find out inside our Citizenship By Investment Comparison Sheet where you’ll see all the countries you can (and can’t) enter visa-free with each passport. Started in 2016, Saint Lucia offers several options for applicants to their citizenship-by-investment program (visa-free access to 123 countries, including the Schengen area and the UK). This means that whenever you decide to travel from Cyprus to Greece (or to any other Schengen country), you will have to go through border controls. There was an attempted coup d’etat in 2016. St. Lucia now gives Antigua and Barbuda a run for its money when it comes to family applications: All total, government fees included, a family of four will pay a total of $167,500 for St. Lucian passports. The program has been undergoing a rehaul in late 2020. No single government has exclusive authority over you. One additional benefit is that this family option comes with one year of free tuition for a member of the family at the University of the West Indies. Additionally, while not officially members of the Eurozone (or the EU), Montenegro and Kosovo also chose to use the euro as legal tender (yellow on the Eurozone map). Here’s a rundown of where to purchase a passport in the Caribbean: (Best-Value Donation Option for Single Applicants) NOW ON COVID-19 SALE. It provides access to 122 destinations, including the countries in Europe’s Schengen Area as well as Turkey and Russia. To get a better idea of how this process works, you can download a free in-depth intelligence report on How To Get an Italian Passport & Citizenship By Descent here. Visa requirements for Icelandic citizens are administrative entry restrictions imposed on citizens of Iceland by the authorities of other states.. As a member state of the European Free Trade Association (EFTA), Icelandic citizens enjoy freedom of movement to live and work in other EFTA countries in accordance with the EFTA convention. As of now, Montenegro offers a decent passport a steep price (cheaper than Malta’s, but more expensive than those in the Caribbean, which offer similar – or better – passports). On a bright side, five years later, St. Lucian government should pay you the $250,000 bond amount back, so your final cost for the passport will just be the fee of $37,500. The shuttering of the program was followed swiftly by a European Commission announcement that it would be launching infringement procedures against both Cyprus and Malta over their programs. However, before you renounce your US citizenship, always consider the travel inconveniences of a passport that’s not as high-quality as the American one. Click here if you’re interested in learning more). Although Grenada’s citizenship by investment program only started in 2013, it has quickly established itself as a serious player in the field. And thanks to the COVID-19 sales and new COVID bond options, pandemic passports in the Caribbean are becoming even cheaper than usual. For example, some foreigners in the US are opting not to pursue American citizenship because it would subject them to taxation on their worldwide income for the rest of their lives. A family of four will pay $292,500 and hold them for seven years. However, Jordan’s citizenship by investment program is by far the worst in the world today. Click one of the stars to add your vote... Other readers gave this article an average rating of 4.8 stars. Cypriot authorities were swift to deny these allegations, claiming that previously lacking due diligence issues had been addressed. St. Kitts boasts the highest number of visa-free countries of all the Caribbean options. That could mean significant tax savings for you and your family as well. Best Capital Growth in Europe and Middle-East: Leveraging the best investment returns along with holding the most in demand Middle-East passport … The number of countries each passport offers varies, but it doesn’t mean that the passport with the most countries is necessarily the right one for you…. Fast Track Bulgarian citizenship and passport by Investment. We don’t find this option to be especially compelling. Our intelligence reports cover all four ways to get a second passport & citizenship in detail. It ranks as number 136 out of 198 passports in our passport ranking. 61 out of 198 passports in our passport ranking, Grenada’s official citizenship by investment website, Malta’s official citizenship by investment website, 48 out of 198 passports in our passport ranking, Bulgaria’s official citizenship by investment page, 83 out of 198 passports in our passport ranking, 17 out of 198 passports in our passport ranking, Article 10 (6) of the Austrian Citizenship Act, 97 out of 198 passports in our passport ranking, 136 out of 198 passports in our passport ranking, 86 out of 198 passports in our passport ranking. Iceland has member of WTO, OECD and EFTA. It could potentially help you save tens — or even hundreds of thousands — of Dollars by picking the best passport for your personal situation at the lowest price. Regardless of your choice, you had to purchase a residence valued at €500,000. But now, any family with at least six members can make a donation into a fund dedicated to the expansion of the University of the West Indies. And the NTF price for single applicants is $150,000 (plus fees of $8,000.). rd There’s been a big uptick in second passport applications since COVID-19 hit. For now, the passport gives you access to 111 visa-free countries, including the European Union (but not to the UK, US, China, Canada or Japan). If you are in this situation, the only way you can completely escape the US tax system is by renouncing your US citizenship. But if none of these options are suitable for you, then maybe a second citizenship by investment is the best way for you to renounce your US citizenship and enjoy enormous tax savings. The Maltese passport is also by far the best passport of all the available options (short of Austria, which does not have a real, explicit citizenship-by-investment program). Additionally, if you’re an American citizen, you can take advantage of the Foreign Earned Income Exclusion and receive up to $107,600 in tax-free income in 2020. Is Iceland likely to offer a route to residency and citizenship through an investor visa? Only once you are clear on why you want a second passport, can you determine how much it is worth to you and decide whether you want to go the investment route. And consider subscribing to our free newsletter, Notes From The Field, where we share advice on how to make more money, keep more of it, and protect it all from frivolous lawsuits and overreaching governments. In each case, there will be additional costs, including paying a commission to a local agent that will submit your citizenship application to the government, as well as covering due diligence and processing fees. This type of visa is offered by Australia, New Zealand and Canada. Citizenship by investment is exactly what it sounds like: foreigners invest a certain sum of money in a country in exchange for citizenship and a passport. While still operational, the citizenship by investment program in Cyprus gave you several investment options… but at €2,150,000 (plus V.A.T), it comes at a heftier price than Malta’s. A Golden Visa is not the same as citizenship by investment. Its passport offers visa-free access to just 50 countries – excluding all the major developed nations. Despite popular belief there are very few European countries that offer residency through investment in real estate. There is usually just a trivial fee of around $100 involved for applying for a passport booklet. This strategy would, for example, make sense for financial professionals who are employees working overseas and earn significantly more than the Foreign Earned Income Exclusion (FEIE) limit allows. Depending on the country, the investment amount can vary from just over $100,000 (St Lucia and Dominica) to over $2.5 million (formerly in Cyprus), plus applicable processing and due diligence fees. For investors who chose to invest in other Crypriot assets, the real estate purchase of €500,000 was added to their €2,000,000 investment. After reading this article you’ll know whether purchasing a passport is right for you, which program is best for your personal situation, and how to ensure that you don’t get scammed. (Antigua and Barbuda charge about $145,000.). It has stunning natural features and some of the lowest crime rates in the Western world. (Remember – the United States is the only major nation whose citizens are responsible for paying home country taxes no matter where they live. For applicants who chose to buy real estate, this residence could be included in the €2,000,000 (plus fees) overall investment. Technically, you obtain citizenship by “donation” since you will not get your contribution back. With many members individually earning millions of dollars from that single investment. Not all passports are equal. Bulgaria’s passport allows visa-free travel to 150 countries, including Australia, several countries in Southeast Asia, Japan, most of South America and Canada… but not the US. In the meantime, if you don’t live in your new home full-time, you can rent out the property for some investment income. This property must be selected from a list of approved real estate provided by the government, and it can be sold after seven years. Or, a $350,000 real estate investment (plus $58,000 in government, application, processing and due diligence fees) qualifies a single applicant for a second passport. Currently, there are several approved projects, and we expect the government to keep adding more options. It went public earlier this year, and the stock price has been as high as $10. Another option is to invest in Europe and get European residency in a country that can eventually lead to European citizenship. Thankfully, that fee was just reduced to $500. +44 207 060 1475. St. Kitts & Nevis’ official citizenship by investment website. You can get more details on Vanuatu’s official citizenship by investment website. This brings us to the next point: an overview of where to buy a passport, and which countries offer citizenship by investment… one of which may stand out as the right one for you and your family. But in 2020, families of up to four can get St. Kitts and Nevis passports for the entire family, for the same price: $150,000 plus $11,500 in fees (if your children are younger than 16). Cypriots are EU citizens, and have the right to live, work, and study in any country in the European Union, so the fact that Cyprus is not part of the Schengen Area should not affect your decision to become a citizen there. On the flip side, political turmoil made the Turkish Lira drop significantly in value against the dollar over the past few years, meaning that the $250,000 you’re required to invest will go a lot further now. And our citizenship-by-investment deal is only one of the many benefits Total Access offers. In both cases – donation or real estate investment – you’ll receive a passport that has visa-free access to 131 countries. In addition to quickly gaining a passport for as low as $145,000 (for a family of 4) the Caribbean countries offer the most affordable citizenship by investment programs. Citizenship by investment is the process of obtaining a second citizenship and passport by investing in the economy of the host country. We cannot overstate the benefits of this. Kopavogur, Iceland. Think of citizenship by investment as your shortcut to a second passport. If you work abroad and make millions each year, paying a little over $100,000 for a citizenship by investment program could make a lot of sense. It’s also likely the fastest citizenship by investment program in the world today. Iceland has green and sustainable energy competitively priced. And you often can dramatically reduce your taxes if you pick a low-tax country. The quickest and most direct path to a second passport (no matter who your parents are, where you are born, or where you live) is through an officially recognized citizenship by investment scheme, maybe there will be a Iceland Citizenship Program in the future. After a few years of residency abroad (and assuming you meet all the country’s other requirements), you can apply for citizenship and a second passport. Intelligence you ’ ll have to pay more for it be another easy option to get a European legislative and... 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