Citizenship by investment (CBI) is a process whereby qualifying individuals can get second passports by investing money in the national economy. Real estate investment is the most common route to a second citizenship. Each country has its own rules and regulations regarding this program. Learn about the steps and documents required to apply for dual citizenship by investment.
Documents required:
The first step in applying for dual citizenship by investment is determining whether you qualify. You will need to submit a set of documents. Then you must submit three passport-size color photographs of each family member. One of these photographs should be affixed to the top right corner of the first page of your application. Another document that must be submitted is the deed of your property. In addition, you will need an original valuation report and title report with pedigree. These documents should be at most three months.
To become a dual citizen, you must have a substantial investment in the country you plan to become a citizen of. This type of citizenship allows you to take advantage of some of the world’s best healthcare facilities and education systems. Having dual citizenship by investment will allow you to benefit from these benefits while living abroad.
Approval time:
The time taken to obtain dual citizenship by investment depends on the country. Many countries have different time frames and requirements. For example, the Bulgarian passport allows travel to 171 countries and will have a visa-free entry in 2020. The NDF has similar requirements, including paying due diligence fees and a 10% government processing fee. Once approved, the applicant must pay the business investment amount within thirty days. Investors can also negotiate an escrow agreement with their partners to avoid delays.
Countries that offer citizenship by investment:
Most countries offering citizenship by investment offer an incentive for investment. Usually, citizenship is granted after a specific period of residency. However, some countries do not require residency, so citizenship can be achieved quickly. For example, you can obtain citizenship in Cyprus, Grenada, Antigua, and Barbuda in a few weeks. In addition, many countries allow citizens to travel visa-free or obtain a visa on arrival.