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NEED A SECOND PASSPORT ??? : Citizenship by Investment programs






















Citizenship by investment programs are offered by several countries and they allow an investor to legally, and almost immediately, acquire citizenship without needing to physically move to the country of choice.


Benefits of having additional passport:


  • Alternative passport can remove the need to apply for visas and travel internationally on demand. For international business, or certain lifestyles, the hassle of acquiring and renewing visas can be extensive, painful, and detrimental to time sensitive business opportunities. The main programs can provide you visa free travel to over 130 countries, including the UK, the European Union’s Schengen Zone, the USA, Canada, and more.

  • If your family were to acquire citizenship in any of the EU countries, they would immediately acquire the right to live, work, and study anywhere within the EU. This is one of the most demanded benefits.

  • Many also like holding a second citizenship or residence to simply have a plan B if things ever go sideways locally, and in case they wish to move or retire oversees one day.

  • Second citizenship and residential address overseas provide additional tools for international tax planning, and adds additional privacy in international banking or business.



Countries offering Citizenship by Investment programs



Currently there are four Citizenship by Investment programs of real interest, two in the Caribbean and two in Europe.


The Caribbean is home to the well-known program of St Kitts and Nevis, and the recently launched competitive program in Antigua and Barbuda. These programs are the most affordable, starting from US$300,000, and still provide citizenship and passports that allow visa free travel to the EU, the UK, and Canada for example.


The two main citizenship programs in Europe are offered by Cyprus, and a recently launched program in Malta which is the only program of its kind that allows visa free travel to USA. These programs are most attractive as they lead to immediate EU citizenship, yet they are also the most expensive and require investments form €1 million Euro.



 











Citizenship by Investment FAQ

If I get married or have kids later, do they automatically get the citizenship ?
Your spouse and/or children can qualify for citizenship by decent for all of the qualifying Citizenship by Investment programs.
When I re-sell does it qualify the buyer for the Citizenship by Investment program ?
Cyprus, Malta and St. Kitts and Nevis re-sold property will allow the buyer to qualify for the Citizenship by Investment program, however this element is still pending with the Antigua and Barbuda program.
Are there annual property taxes ?
Annual taxes on immovable property are very common as they are easy to assess and collect. So most countries insist on an annual charge on real estate which is usually not very high but unavoidable. A notable exception is Malta, where there are no further real estate taxes after the initial purchase.
Property tax is levied on all properties in Antigua but not in Barbuda. The taxable value is based upon the property’s current market value with the applicable tax rate dependent upon the classification of the property, residential or commercial.
Cyprus property tax system is also based on the market value of your property, the % charged increases in increments based on the property value, the minimum % charged is 0.06% with the maximum being 0.19% of your property value.
For St. Kitts and Nevis, the Comptroller of Inland Revenue assesses the market value of the property and a property tax of 0.2% is levied annually on this market value.
Do I become tax liable when I become a Citizen of one of the citizenship by investment countries ?
In terms of the Cyprus program, as well as Antigua and Barbuda program, you are only liable to pay tax if you reside in Antigua and Barbuda for 183+ days per annum. On St. Kitts and Nevis you are not liable for any personal taxes.
How long is the passport valid for ?
The Antiguan passport is valid for 5 years, after which the passport can be renewed. Renewals are subject to the recipient having spent a total of 35 days in Antigua and Barbuda, since gaining citizenship, within the 5 year period. The Cyprus and St. Kitts and Nevis passport is valid for 10 years and can be renewed upon expiration.
Can I purchase through a local trust or company ?
Citizenship by Investment may be purchased through a local trust or company for Antigua and Barbuda, Cyprus, and St. Kitts and Nevis.
May I open a bank account ?
Yes, it is possible to open a bank account in Antigua and Barbuda, Cyprus and St. Kitts and Nevis.




Who is consider as a dependant ?


Antigua and Barbuda “dependant”:
  • Spouse of main applicant
  • Child of main applicant or his or her spouse who is less than 18 years of age
  • Child of main applicant or his or her spouse who is 18 years of age and less than 26 years of age who is in full time attendance at a recognized institution of higher learning and is fully supported by the main applicant
  • Child of main applicant or his or her spouse who is above the age of 18 years, who is physically or mentally challenged and who is living with and fully supported by the main applicant
  • Parents or grandparents of the main applicant or his or her spouse above the age of 65 years living with and fully supported by the main applicant




Cyprus “dependant”:
  • Spouse of main applicant
  • Child of main applicant or his or her spouse who is less than 18 years of age
  • Child of main applicant or his or her spouse who is 18 years of age and less than 28 years of age who is in full time attendance at a recognized institution of higher learning and is fully supported by the main applicant
  • Child of main applicant or his or her spouse who is above the age of 18 years, who is physically or mentally challenged and who is living with and fully supported by the main applicant




St. Kitts and Nevis “dependant”:
  • Spouse of main applicant
  • Child of main applicant or his or her spouse who is less than 18 years of age
  • Child of main applicant or his or her spouse who is 18 years of age and less than 25 years of age who is in full time attendance at a recognized institution of higher learning and is fully supported by the main applicant
  • Child of main applicant or his or her spouse who is above the age of 18 years, who is physically or mentally challenged and who is living with and fully supported by the main applicant
  • Parents or grandparents of the main applicant or his or her spouse above the age of 65 years living with and fully supported by the main applicant
























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