Second Passports, Dual Citizenship, Citizenship by Investment, Economic Citizenship, Global Citizenship etc., etc.
These are all buzz-phrases you are probably familiar with, but no matter the terminology, they all boil down to the same thing; the desire and acquisition of a shiny new passport to a foreign land for the express purpose of improving the owner’s business opportunities and/or safeguarding their assets.
Basically, there are two types of second citizenship:
Caribbean Island Citizenship
This is the second citizenship you acquire in order to take full advantage of a far more discreet banking system and more favorable tax laws than you currently are accustomed to. If you are a citizen of Western Europe or North America who already enjoys a high level of freedom of travel and work locations, but you would rather pay less taxes, safeguard your assets and keep what happens between you and your bank manager private, you will find the banking and taxation in Caribbean countries like St Kitts and Nevis, Dominica and Saint Lucia highly favorable.
The rate of wealth expansion in Africa, Asia and the Middle East far outstrips that of Western Europe and North America, but high net-worth individuals from countries like China, India and Saudi Arabia enjoy nothing like the level of freedom to travel and work as their counterparts in the US, Canada, the UK, France and Germany do.
For this reason, an E.U passport has become as much of a must-have business accessory for these downtrodden millionaires and billionaires as the latest Lear Jet or a residency in London, and E.U member states like Malta, Cyprus and Greece have been quick to cash in on what is a rapidly expanding market.
Cheapest Citizenship By Investment Programs
Which CBI Is Best For Me?
If you are a high net-worth individual, chances are if you haven’t got one of these babies, you’ll want one. If you are getting hammered by taxes and frustrated that your bank of many years treats you like an international terrorist, a Caribbean passport is for you.
If you are tired of feeling like a second-class citizen when you are forced to go through the rigmarole of yet another visa application, an E.U passport is what you need.
So now that you have decided you want second citizenship, which is the best value deal? Which takes the least time? In truth all of the CBI programs offered by 2ndPassports.com have their plusses and minuses. Some are super-fast to receive but are extremely expensive. Others are far cheaper, but require a period of residency.
Below is an informal list of five of the fastest and more affordable Citizenship by Investment programs featured on 2ndPassports.com. We’ll count them down in reverse order:
For €1.1 million you will not only receive E.U membership with your Maltese passport, you will also become a member of the British Commonwealth, which means that if ever this or future Brexit campaigns comes to fruition and the UK elects to leave the European Union, you as a Maltese passport holder will still be able to live and work in Britain for as long as you so wish, as well as maintaining full living and working access to all E.U countries.
The Maltese passport is one of the very best options on the E.U market. A period of residency is required, and you will need to invest at least €1.1 million and wait a year for your citizenship, but it will be worth every cent.
Some Caribbean citizenship by investment programs have more prestige and status (the St Kitts and Nevis CBI program is the oldest in the world, and was first established in 1984), while others have a passport with more visa-free access (Saint Lucia’s passport will get the holder into 121 countries visa-free.)
However the Dominica CBI program at just $90,000 is the most economical in the Caribbean, and a fraction of the price of the programs offered by St Kitts and Nevis and Saint Lucia. It is also one of the fastest, with ownership in just three months.
One does not acquire a Caribbean passport for its visa-free access powers, one acquires a Caribbean passport for access to the best banks, tax-shelters and tax-systems in the world. Dominica is a long-time full-member of CARICOM, the abbreviation for the Caribbean Community, which is the Caribbean’s very own Schengen Area of 20 nations including Antigua & Barbuda, Barbados, Belize, St. Kitts & Nevis, St. Lucia, Jamaica and the Cayman Islands.
CARICOM was set up to promote economic integration and cooperation among its members which means that citizens of CARICOM are free to live, work and bank in any of those member countries. Just to put a little perspective on how important CARICOM is worldwide, its banking assets are estimated to be $65 Trillion.
Forget the financial and banking crisis that has rocked this beautiful and historic country to its core, Greece is as much a part of the E.U as Germany, France, Italy, Belgium and Austria, and ownership of its passport will grant you the same status in Western Europe as citizens of any of those E.U powerhouses.
It’s a tragedy, but the truth is the Greek government needs money so much that it is selling its passports at a knock-down rate. If you have €95,000, can pass a background check and are prepared to wait for all of three months, Greek citizenship – and all of the amazing benefits that come with being an E.U passport holder – will be yours!
Okay, we know Guatemala gets something of a bad press, and we are aware that some areas of the capital Guatemala City should be avoided, but surely the same applies to much of the US and Europe.
Guatemala is actually a popular upmarket tourist destination, famous for its breathtaking coral beaches that are ideal for all forms of diving, its vast rain forests and its legendary Mayan ruins.
But let’s face it, that’s now why you would want to acquire a Guatemalan passport (although those locations will provide you with a great way of spending your 21 days of required residency during your first year of citizenship.)
Guatemalan citizenship is popular amidst the business worlds of the US and Europe, and owners enjoy enhanced access to that country’s discreet banking, tax-shelters and tax-system, all of which are on a par with their Central American neighbors Panama.
With the aid of 2ndPassports.com’s Fast Track service, Guatemalan citizenship can be acquired for only $60,000 and received in just 45 days.
Yes, we know Turkey isn’t an E.U member state yet. The reality is that now the European Commission has granted Turkish citizens unlimited visa-free access to the Schengen zone, they have taken a massive and decisive step toward granting the Turks what they have been fighting for since 1987 full E.U membership.
In the world we live in, having Turkey as an important and respected member of the E.U is a no-brainer. Turkey is the nation that bridges Europe with Asia. Strategically they are vitally important, something the US recognized decades ago when they invited Turkey into NATO in 1952.
For decades Britain and France have been on-board with Turkey joining the E.U, with Germany providing the only stumbling block. However after German Chancellor Angela Merkel recently announced that Europe and Turkey needed each other, Turkey’s E.U membership would appear imminent.
However, here’s what makes Turkish citizenship really appealing right now. It is currently far and away the cheapest (€65,000) and the fastest (three weeks) second citizenship program on 2ndPassports.com’s roster. As a Turkish passport holder, you will already have access to 148 countries including the 26 nations of the Schengen Area visa-free.
When Turkey are awarded E.U membership, expect the government to issue a Citizenship by Investment program befitting the second largest country in Europe. In other words, it won’t be cheap; 2ndPassports.com estimate an investment of around 2 million will be required.
€65,000 right now vs 2 million in the near future? If you are in the market for Turkish citizenship, can you really afford to take that risk?
If you are interested in any of the five CBI programs featured above, or indeed any of the other Citizenship by Investment programs for Europe or the Caribbean featured on the 2ndPassports.com homepage, why not contact us now for more information. Feel free to email us or message us using WhatsApp or Telegram and we can provide you with further information or a quote. You can also phone or Skype us and speak directly to one of our expert representatives. All calls are fully encrypted for your privacy.
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