Citizenship by Investment: Unlocking yours and your family’s future
Following Britain’s decision to leave the European Union, the 2016 US Presidential election and political unrest in numerous locations around the globe, interest in citizenship by investment programmes has skyrocketed with investors looking to protect their own and their family’s future.
People are drawn to such programmes for different reasons. Some require the international mobility that comes with owning a second passport; others seek the political security of dual citizenship. Many are financially motivated, looking to take advantage of the veritable plethora of tempting business opportunities that arise from citizenship by investment.
But for many, CBI programmes offer more than personal investment. Many of the programmes come with the added security of extending citizenship to an applicant’s family. If familial prosperity is a driving factor, there are certain countries which offer a particularly appealing package.
Dominica’s CBI programme is renowned for being one of the more affordable options. There are two routes that an investor might go down in order to gain Dominican citizenship. The first is to contribute a minimum of 100,000 USD (plus additional processing fees and due diligence) to The Economic Diversification Fund. This relatively low cost increases to 175,000 USD if the applicant seeks extended citizenship for a spouse, and 200,000 USD for the main applicant and up to three dependents. The second option is to invest a minimum of 200,000 USD in real estate, and then to pay the additional processing, due diligence and government fees for each applicant/dependent.
Having been voted one of the happiest places on earth, Dominica is defined by its healthy inhabitants (the country boasts an impressively large number of centenarians), its rich biodiversity, its cultural vibrancy and its strong community spirit. Anyone considering raising their family away from the fumes, stress and dangers of urban life might consider the idyllic and friendly environment that Dominica has to offer.
Singaporean citizenship is another popular option for families. The GIP scheme permits the investor’s spouse and unmarried children under the age of 21 to qualify. Family ties can also be preserved with the option of procuring ‘Long Term Visit Passes’ for parents and other relatives. But, unlike the conveniently brisk process of gaining Dominican citizenship, Singaporean citizenship requires a two year residence in the country.
But, for investors willing to make this commitment, the benefits of raising one’s family in Singapore are ample. The country’s education system is globally renowned, making residency in Singapore an appealing prospect for families looking to improve their children’s academic future. The country is famed for offering centralised, integrated and coherent teaching. A well funded education system sets Singapore apart.
Portugal’s Golden Residence Permit Programme is perhaps the most popular option for non-European citizens seeking the freedom to live and work in Europe. An ideal way to travel freely throughout the Schengen Area the programme is also open to families who may still want to maintain residence elsewhere.
Known for its cultural heritage the Iberian Peninsula also offers plenty of lifestyle benefits as well, from stunning beaches to emphatic national parks – Portugal is quite the cultural haven.
Investing in the future is always a sound decision, but it’s important to weigh up the various factors at play before opting into a CBI programme. Deliberations becomes even more significant when an investor is considering relocating their whole family. But there are a number of programmes that could improve a family’s quality of life as well as providing them with financial prosperity, political security, and the priceless gift of global mobility.