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Citizenship by investment

Citizenship by investment in the European Union countries:

Citizenship by investment in the Caribbean countries:

 

Some countries have provisions in law that allow wealthy individuals to obtain citizenship on the basis of investment, however, the USA, the UK, Canada, Australia and some other countries offer citizenship by investments through the stages of temporary residence, permanent residence and naturalization. This means that the main investor and his family have to permanently reside in the country before they obtain citizenship.

For more detailed information regarding the following categories: Business immigration, Investor visa, Entrepreneur visa, Visa for property owners, please see our section Business immigration and investors, and also you can select the country in the section Visas and Immigration.

If a wealthy individual wishes to obtain new citizenship quickly without disruptions to life, the Citizenship by Investment Programme is an attractive option. You just need to choose a country and make an investment.

The acquisition of citizenship on the basis of the investment made in the economy of a country involves many complex procedures and approval of the respective Government. That is why it is essential that an applicant is professionally advised and receives qualified help from the commencement of an application process which starts far before an application has been officially lodged. It is very important that highly qualified immigration solicitors evaluate and approve the key issues of a case before the official application procedure commences.

Citizenship for investments can be an additional way of assets protection in the unstable political and economic climate of Ukraine.

Feod Group has successfully operated for over 20 years and has its offices in the UK, Ukraine, Cyprus and the USA with business partners (immigration solicitors, brokers, accountants, auditors, real estate agents and other specialist) in all EU countries, as well as in the USA, Canada and Australia.

Feod Group has within its team accredited international immigration lawyers with substantial experience in immigration legal practice.

Further, you will find basic descriptions on the main conditions on which different countries grant citizenship on the basis of Citizenship by Investment Programmes.
We invite you to book consultation with a accredited international immigration lawyer in our office in Kyiv or via Skype.

Please find a description of general conditions of Citizenship for Investment Programmes in different countries below.

 

EUROPEAN COUNTRIES CITIZENSHIP BY INVESTMENT PROGRAMMES MALTA

Maltese Citizenship by Investment is provided for by an amendment proposed to the Maltese Citizenship Act, Chapter 188 of the Laws of Malta and under the Individual Investor Programme Rules, 2013 issued under the Citizenship Act. Under these rules, affluent persons of impeccable standing and repute are able to apply to be naturalized and to receive a Maltese passport on the basis of a contribution to be made to a National Development Fund, to be applied for use in the national interest. The first pilot programme is scheduled for November 2013.

The requirements in obtaining Maltese Citizenship are the following:

  1. 1. Making an irrevocable contribution to the National Development Fund of Malta.

The main applicant has to contribute Euro 650,000.00 to National Development Fund which is established by the Government of Malta for this purpose. Spouses and children under 18 years old are required to contribute Euro 25,000 each. Married children 18-25 years old and dependent parents are required to contribute Euro 50,000 each.

 

  1. 2. Buying or renting a property:

Foreigners wishing to become Maltese citizens require to purchase a real estate with a minimum value of 350,000 euro or to sign a five-year lease contract with a minimum rent price of 16,000 euro a year.

 

  1. 3. Investing funds in shares/bonds:

Each applicant, in addition to the above payments, should invest at least 150,000 euro in bonds or shares that will benefit the country. They must be kept for five years.

There is a four-stage check of each applicant for citizenship before positive or negative decision will be made.

Upon engagement, we will provide you with a documents checklist and detailed guidelines. We will also guide you through preparing the application file with a view to facilitating the process for you. In 2-3 months the main applicant together with his family obtains residents’ cards (permanent residence). The whole procedure takes about 12-16 months to obtain citizenship.

Applications are recommended for approval by Identity Malta Agency of Ministry of Justice and the contribution, less the non-refundable deposit already paid of €10,000, should be paid within 20 days of the in-principle approval, upon which the Minister responsible for citizenship will be requested to issue a certificate of naturalization.

Benefits

Malta is a stable, neutral and respected member of the European Union since 2004 and became part of the Schengen Area in 2007. Citizenship under this programme grants the benefits of full citizenship and access to all investment opportunities in Malta and throughout the 27 European Union countries as are open to Maltese and European Union citizens. The Malta Citizenship Act allows dual citizenship.

Taxation of New Citizens

Residents of Malta and who are not domiciled in Malta are taxable on a remittance basis. The grant of Maltese citizenship to a non-domiciliary of Malta does not of itself, cause the beneficiary to acquire a new domicile of choice in Malta. Accordingly, non-doms who are not domiciled in Malta are not taxable on foreign source income not received in Malta and also not taxable on any capital gains arising outside Malta, whether remitted to Malta or otherwise.

Please find more detailed information regarding the procedure, terms, required documents and our services for obtaining the Maltese citizenship for investment in the section Citizenship of Malta for investment.

 

Cyprus Citizenship by Investment

 

Geographically Cyprus being the first EU member state for Asia and the Middle East.
Citizenship by Investment Programme in Cyprus has lately had an increased dynamics and demand due to the following reasons:

The whole process of the application takes up to 6 months including examination of liability of the main applicant and his/her spouse, consideration of the applications, making a solemn oath and handing passports in.

The requirements in obtaining Cyprus Citizenship by Investment are the following:

The application applies to the main applicant, spouse and dependent children and parents upon approval of the main applicant.

By obtaining Cypriot citizenship and passport one does not automatically become tax resident of Cyprus. Cyprus tax residency is based on the number of days one spends in the Republic of Cyprus in a year (183 days test). Cyprus tax residents are taxed on their worldwide income whereas non-Cyprus tax residents are taxed only on Cyprus sourced income.

 

CARRIBEAN COUNTRIES Citizenship by Investment

 

Many Caribbean countries (St. Lucia, Dominica, Antigua and Barbuda, Saint Kitts and Nevis, Grenada) offer programs for obtaining a second citizenship for investment.

The common features of all these programs are a relatively small amount of investments (from $ 200,000), the irrevocable nature of investments (donations to various economic development funds), and Fast track processing procedure (about 3 months).

The second citizenship of any of these countries provides visa-free visits to the Schengen treaty countries and the UK, so it is a respectable travel document.

At the same time, citizenship for the investments of these countries is economic, that is, not inherited, and in some countries (Antigua and Barbuda, Saint Kitts and Nevis) – temporary, and requires an extension.

We cannot recommend the second citizenship of these countries as an “alternate aerodrome” and an asset protection tool, because these countries do not have a sufficient diplomatic relations with Ukraine and, therefore, cannot fully protect their citizens.

 

St Kitts & Nevis (Saint Christopher and Nevis) Citizenship by Investment

St Kitts & Nevis Citizenship By Investment Programme was established in 1984 under the regulations of the 1984 Citizenship Act Section 3(5) making it the longest established economic citizenship programme in the world. Through considerable contribution Investors of good character and reputation can apply for citizenship and passport within the legal framework of the Federation of St Kitts & Nevis.

Requirements to qualify for citizenship through investment:

Real Estate Development – this option requires a minimum investment of $400,000.00(for each main applicant) in a designated project approved by St Kitts &Nevis government.

SIDF Contribution – to qualify for this option the government requires a contribution to St Kitts and Nevis Sugar Industry Diversification Foundation:

  1. 1. Single Applicant – a non-refundable contribution of $ 250,000.00 is required. Additional $ 50,000.00 contribution is paid for each adult family member. Also due diligence fee ($7,500.00 per person) and a passport fee ($350.00 per person) are payable.
  2. 2. Applicant with up to 3 family members (i.e. spouse and 2 children under 18) – a non-refundable contribution of $300,000.00 is required
  3. 3. Applicant with up to 5 family members (i.e. spouse and 4 children under 18) – a non-refundable contribution of $350,000.00 is required
  4. 4. Applicant with up to 7 family members – a non-refundable contribution of $450,000.00 is required

The citizenship application is usually processed for 4-6 months from the time it has been lodged.

Advantages:

All the applications for economic citizenship must be lodged through a government approved agents. Feod Group business partners are government approved agents.

 

Dominica Citizenship by Investment

 

The Commonwealth of Dominica is an island nation located in the Caribbean Sea. The state received its independence from the United Kingdom in 1978 and is a parliamentary democracy.

Established in 1993 Economic Citizenship Programme is aimed at attracting capital from people with good character and financial abilities. In return the Government grants citizenship to the investors. The investment is non-refundable and is made to the National Bank of Dominica upon approval by the Financial Services Unit of Ministry of Finance . The funds are used for development of both private and public sectors – schools, hospitals, tourism, information technologies projects etc.

Requirements to qualify for citizenship through investment:

To qualify for citizenship the available investment options are as follows:

Single applicant – where an investor is a sole applicant no matter his/her marital status. Such investor would be required to make a $100,000.00 non-refundable investment

Family Application One (applicant and spouse) – the investor-applicant makes a $175,000,00 non-refundable investment

Family Application Two (Main applicant, spouse, two children under 18) – the investor-applicant makes a $200,000.00 non-refundable investment

Family Application Three (the main applicant, spouse and more than 2 children under 18) – a non-refundable investment of US$200,000.00 and US$50,000.00 for every additional person below the age of 18

Investments in government-approved real estate projects are also possible in the amount from $200,000 dollars.

The applicant has to transfer his investment to a Dominica government account after the due diligence has been approved and the applicant has received a letter from Dominica Government that his application has been approved.

All the applications are to be submitted through an authorized agent. Processing of applications for Citizenship by Investment can take up to 12 months (4-6 months from filing date to the issuance of applicants’ passports. Personal interview in Dominica is required. The granting of citizenship is at the sole discretion of the Dominica Government. After Government Review and interview the Prime Minister will approve the citizenship application and within 8 weeks will issue Naturalization Certificates. The passports are usually issued one week after this.

Advantages:

All the applications for economic citizenship must be lodged through a government approved agents.

 

Antigua and Barbuda Citizenship by Investment

 

The Citizenship by Investment programme in Antigua and Barbuda was launched in 2013. The programme offers investors the chance to become a citizen of Antigua and holder of Antiguan passport.

“The singular goal of the Antigua and Barbuda Citizenship by Investment programme is to generate investments and jobs for Antiguans and Barbudans and to put Antigua and Barbuda on the road to sustainable growth and development”, Baldwin Spence, the Prime Minister and Minister of Foreign Affairs of Antigua and Barbuda said.

Requirements to qualify for citizenship through investment (all documents must have apostille seal, for use in Antigua and Barbuda and be lodged through an authorized agent):

To qualify for Antigua and Barbuda passport the value of purchase must be not less than $400,000.00 (it is advisable to invest more). After receiving citizenship the applicant who proceeds with real estate investment cannot withdraw either from his property or his shares from a company owning such real estate before the expiry of five years, unless the applicant purchases another approved project (directly or through beneficiary ownership) for at least the minimum required investment.

The main applicant’s dependents (spouse, dependent children under 25 and elderly parents over 65) can apply with the main applicant.

Passports are issued for the period of 5 years with application to renewal thereafter.

The Antigua Citizenship Investment Unit reserves the right to interview any applicant.

There is a residency requirement of 35 days within the first 5 years after the citizenship and passports have been obtained.

Advantages:

 

Saint Lucia Citizenship by Investment

One of the new passport Caribbean program (launched in early 2016) is a citizenship for investment program of St. Lucia.

There are several investment options.
Irrevocable contribution to the National Fund for Economic Development in the amount of:
$ 100,000 for single applicant,
$ 160,000 – for the applicant with his spouse,
$ 190,000 – for the applicant with his / her spouse and two children,
an additional contribution for each next family member is $ 25,000.

Investments in government-approved real estate projects in the amount from $200,000 dollars.

Investments in non-profitable government bonds for 5 years in the amount from 500,000 dollars.

Regarding investments in real estate projects or bonds, an additional fee is paid in the amount of:
the main applicant – $ 50,000
each dependent 18 years and older – $ 35,000
each dependent under 18 years of age – $ 25,000

Advantages:

• Processing of applications within three months
• Including dependent children and parents who live with the main applicant.
• No need to visit the country in the application process
• Visa-free entry to 125 countries / territories
• No taxation of worldwide income.

 

Grenada Citizenship by Investment

The second citizenship program for investment of Grenada is also quite new. It came into force in 2013.
The program provides several investment options.
Irrevocable contribution to the National Fund (NTF) in the amount of $ 200,000 – for single applicant or family of 4 or less members, $ 25,000 – for each additional dependent family member.
Investments in the approved real estate from $ 350,000.
Regarding investments in real estate the state fee should be additionally paid: $ 50,000 per person, $ 20,000 for dependent family members after the 4th (families of 5 or more).

Like other countries in the region, Grenada does not require economic citizens to reside in the country or pay taxes on worldwide income.

The international attorneys of Feod Group together with the financial consultants will provide you with an overview, professional advice, support and opportunities to choose the appropriate country for your investment and obtaining an immigration status.


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