To choose the proper citizenship by investment option for you and your family, several ethical considerations should be taken into account. Consider the following before you decide to invest in Canada for citizenship.
1. Budget for Citizenship through Investment
How much will you pay for a second passport? Second citizenship is cheaper through citizenship by investment programs. Dominica citizenship by investment costs $100,000 for a single candidate, and Antigua costs $125,000 for a family of four. Most citizenship through investment programs cost $100,000–$200,000 and offer varying perks. European Citizenship by Investment is more expensive. Cyprus provides citizenship by investment for EUR 2.5 million while Malta provides citizenship by investment for EUR 1.3 million. The latest Montenegro and Moldova citizenship by investment options cost over EUR 100,000, less than Cyprus and Malta.
2. Timeline of Investment Citizenship
Do you need a second passport quickly? The 5 Caribbean countries that provide citizenship by investment typically take 3-6 months to process applications, depending on volume. Investment citizenship in Europe can take over 6 months. St. Kitts & Nevis offers a 60-day fast track to citizenship for over US$25,000.
3. Considerations for Family Inclusion and Citizenship Transmission
If you apply as a family, you must assess if your family members are dependents under the citizenship by investment programs. Citizenship applications might include parents, children, and adult children in some programs. Prices vary by the number of applicants for citizenship by investment application. To pass citizenship by descent to your future children, you must check that the citizenship by investment program enables it and whether there are any restrictions.
4. Requirements for Travel and Residence
A good passport with high visa-free travel is ideal if you want to travel without visas. Malta offers broad visa-free travel to 180 countries, including the US, Canada, Hong Kong, and the UK. Malta passport holders can live and travel in all EU nations and Schengen Area countries. St. Kitts & Nevis enables visa-free travel to over 150 countries, including Hong Kong, UK, Russia, and Schengen, with new nations added constantly. The passport of Grenada is unique in that it allows visa-free travel to China and other nations.
5. Stability of Country’s Currency
The country’s currency may benefit you and your business, so consider it. Caribbean nations that employ the US-pegged East Caribbean Dollar are safe. European Union countries with strong currencies, like the Euro, are safe and advantageous. However, countries like Turkey, whose Lira fluctuates fast, may offer a great way to make additional money if you watch the market and act when an opportunity occurs.
6. Convenience of Money Transfer
A key consideration is the simplicity of transferring money from your home country to the citizenship by investment program you are applying to. Most CBI programs need little physical residency, so you can stay home until your business is formed. However, some countries may have trouble sending money abroad. In conclusion, easy money transfers are crucial.
Your goals and listed considerations will determine the ideal citizenship program for you. To make your decision legit, discuss your aims and objectives with a Dubai citizenship by investment agent. Professional expertise may help you choose the right program.