Citizenship by Investment today is one of the most popular ways of attaining a passport from another country. But what exactly does this term mean? Well, at the grassroots level, Citizenship by Investment is a process through which individuals attain residency in another country by investing in the local economy. In this blog below, we have made a list of countries that have a faster process for individuals wanting citizenship. Let us check them out in detail.
Vanuatu scores points for having the fastest citizenship by investment schemes. The country is also touted as the only one in the south-pacific region that offers a commonwealth passport to residents. With a simple procedure, a time window of 20-30 days, and a minimum investment of USD 130,000, Vanuatu offers approval to its immigrants in 1.5 months. Apart from this, investors also have visa-free travel access to Russia along with 130 countries which makes it even more lucrative.
St Lucia offers two types of investment schemes for the investors with a total sum of USD 100,000 and USD 300,000, respectively. While the citizenship approval time for the nation is about 2.5 months, no residence requirements are required to get the St Lucian passport. Apart from this, the country provides visa-free access to the Schengen region, which makes it one of the top picks for investors and high-net-worth individuals.
St Kitts and Nevis
St Kitts and Nevis’s citizenship program is also touted as one of the oldest in the world. The country, which is dominated by a tropical climate and lush beaches, provides citizenship approval within 60-90 days. In addition to this, residents do get travel access to the Schengen zone, the United Kingdom, and Russia, which works as an added perk.
The Dominica citizenship program is often deemed the most popular in the Caribbean islands. The nation offers a unique plan which requires around USD 100,000 contribution or USD 200,000 in real estate to qualify as a citizen of Dominica. Apart from this, what makes the plan click with the investors is that there are no residence requirements for becoming a citizen of the country. While the approval takes around 2 months to get confirmed, the passport issued under the same has a validity of 10 years.
One of the prime reasons Montenegro’s citizenship by investment scheme is rising on the popularity charts is the low volume of applications. Foreigners who are interested in getting a residency status in the country can invest EUR 250,000 and donate EUR 100,000 to the government. The total time taken to get the approval is around 3 months, and the scheme is open to a limited number of 2000 applicants.
Grenada’s citizenship by investment program comes with its share of benefits. While the total processing time is approximately 2 months, there are no residence requirements which makes the plan even more effective. Investors who get a passport have the right to visit Russia, China, the Schengen zone, and the UK visa-free. Also, the passport issued to the applicant is valid for 10 years.
Antigua and Barbuda
If, by any chance, you are aiming to secure a place in the charming land of Antigua and Barbuda, then now is the right time. The country takes any contribution between USD 100,000 and USD 200,000 for granting citizenship. With a minimum processing time of 2 months and a passport validity of 5 years, residents with big families can also avail the benefits of living in the country. This, along with a minimum donation of $100,000 makes the program much in demand among investors.
Cyprus is the only country in Europe with a legal and official citizenship by investment program. The country requires a minimum investment of EUR 2,200,000 investment in real estate, bonds, and projects. Applicants have to visit the country for receiving citizenship and have to abide by the residence requirement of 6 months before getting a Cypriot passport.
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