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Citizenship by investment programmes are one of the fastest and easiest ways to obtain a second passport. These programmes allow persons, who make significant economic contributions to the granting country, to obtain citizenship and a second passport with no to minimal residency requirements.
The Turkish citizenship by investment programme grants foreign investors residency, citizenship and a Turkish passport without a minimum years of residence requirement. Dependent family members of the applicant are also granted citizenship without separate investment requirements. The whole application process is typically completed in 2 to 3 months, making it an even more attractive option for those who would like to obtain a second passport through investment, allowing visa-free travel to 125 countries. Additionally, Turkish passport holders can and take advantage of the E-2 visa treaty with the USA, with which they can apply for a US residency visa.
With some of the most beautiful locations and tropical islands in the world, the Caribbean has long been considered a paradise and the dream vacation destination by many. Since the introduction of citizenship by investment programmes over 30 years ago, the island nations have attracted foreign investors from around the globe to apply for its dual citizenship. With no to little residency requirements, these programmes are some of the most popular ways to obtain a second passport. Currency, there are five Caribbean countries offering citizenship by investment programmes.
Antigua and Barbuda’s programmes is one of the newer citizenship by investment programmes in the Caribbean. It allows investors to directly acquire citizenship and a second passport through donation to designated funds or real estate and business investment. Requiring only 5 days of residency during the first five years after having obtained the citizenship and with an application processing time of 3 to 4 months, this citizenship by investment programme has attracted many investors and families who are interested in getting a second passport. Although it does not afford automatic voting rights, Antigua and Barbuda passport holders enjoy visa-free travel to over 160 countries, including the UK and the Schengen Area. Applicants will be initially granted a passport, valid for 5 years. During that time, they have to fulfil the residency requirement in order to be eligible for a renewal.
Dominica has been named one of the happiest places to live and is a tropical paradise with breathtaking landscapes. The government offers various fiscal incentives for entrepreneurs, such as tax holidays, import duties exemption and export allowance. The island nation has been considered a tax haven with no wealth, gift, inheritance, foreign income or capital gain tax. The contribution option under the Dominica Citizenship by Investment Programme is one of the most affordable routes to obtain a second passport. It has no physical years of residence requirement. Processing time for applications is typically around three months. A Dominican passport grants holders full residence status, including the rights to work, and visa-free travel to over 140 countries.
Introduced in 2013, the Grenada programme is the only Caribbean citizenship by investment programme that has no country restrictions and accepts applications worldwide. Applicants can either donate to a national fund that finances various socioeconomic projects in Grenada or invest in government-approved real estate projects that encompass development of hotels, villas and resorts in order to help drive the tourism industry in the country. Grenada passport holders enjoy visa-free travel to more than 115 countries. Like Turkey, the country has signed the E-2 visa treaty with the USA, allowing Grenada passport holders to operate a business and reside there. Application processing time is around 4 months.
Launched in 1984, the St Kitts & Nevis programme is the oldest citizenship by investment programme in the Caribbean. Applicants can either choose the donation or the real estate investment route to obtain a second passport. St Kitts & Nevis passport holders enjoy visa-free travel to over 150 countries, including all Schengen countries, Switzerland, Ireland and the UK. The average processing time is between 2 to 3 months. Those applying through donation are eligible for the Accelerated Application Process which aims to process the applications within 60 days.
The St Lucia citizenship by investment programme was launched in 2016 to attract foreign investment. Applicants can choose from several investment options including real estate investment, business investment and non-interest bearing bonds which the applicant must hold for a certain period of time. Successful applicants receive a St Lucia passport that allows travel to 146 countries. The processing time for the application is normally around 3 months.
Simard & Associates has years of experience in assisting individuals and families with applying and acquiring citizenship in countries they wish to call their second homes. If you would like to learn more about the Turkish passport programme or the Caribbean citizenship by investment programmes, contact our team of immigration specialists today.