Many countries have enacted legislation that allows qualified applicants to receive instant second citizenship and a passport in return for investment. Such programs are widely known and are typically aimed at individuals who wish to leave their (often repressive) country of origin and begin a new life elsewhere. A focus of Economic Citizenship is Real Estate and IPD feature several programs that allow this to be enacted - some also are part or linked to Tax Havens for professionals looking for a second passport to allow transfer or wealth or to purchase assetts in a lower or non Taxing location.
The legal process is usually simple and swift (taking as little as three months), and the attractions are numerous for many: good visa-free travel, better stability and better economic climate of their new country, lower taxes for residents, and so on. Some economic citizenship programs allow legal name change.
Countries such as St. Kitts and Nevis, Belize and Grenada all created a "citizenship industry" alongside their offshore financial sector.
The level of investment based upon a real estate transaction or purchase varies from location to location but the added initiative is that physical status is then combined with actual hard assetts of the domicile being purchased.
Whilst programs relying on specific economic citizenship legislation are suitable for some, their high-profile nature has discouraged others. In addition, many such schemes have now closed up shop due to domestic and international political pressures. The process remains therefore one suitable to higher net worth individuals who can call upon the financial resources to make this a smooth process.
St Kitts and Nevis Economic Citizenship
Established in 1984, The Economic Citizenship Program (also known as the Citizenship-by-Investment Program) of St. Kitts & Nevis is the longest established program of it’s kind in the world. It is a legitimate program, fully supported by the Government, which provides full citizenship and valid passport(s) to foreign investors who make a substantial contribution to the country’s economy.
An investment of at least US$ 350,000 in a designated real estate project is required for an investor to be considered for the program. IPD offers designated real estate that will qualify a buyer for the Economic Citizenship Program upon an investment.
Read more about St Kitts and Nevis Resort which qualifies for Economic Citizenship through real estate investment >>
Economic Citizenship Program
