Poland is a democracy in Eastern Europe with strong historical ties to Germany and Russia. Since 2004 Poland has been a member of the European Union and the Schengen Area, and therefore its citizenship and passport would be highly desirable to wealthy but travel-restricted business people from the Middle East, Africa and Asia looking to widen their horizons for travel and work. But do Poland have actually have a Citizenship by Investment program? Read on and find out!
Poland Set To Benefit From Brexit
In the wake of Brexit and the British public voting to sever their ties with the European Union and go it alone, Poland have pushed themselves to the political and commercial forefront and declared themselves in the running to replace the UK as an attractive location for banks and businesses alike. Poland’s deputy prime minister Mateusz Morawiecki is a former banker with Spanish banking giants Santander and one time chairman of Poland’s third-largest bank Bank Zachodni WBK. Last month Morawiecki traveled to London and had meetings with senior representatives from Royal Bank of Scotland, Barclays, UBS, Credit Suisse, Citibank, and BNP Paribas and well as investment powerhouses Blackrock, Pimco, and Schroders.
The reason? To present Warsaw as the ideal location for them to pitch up once Article 50 is activated and Britain finally leave the EU. This visit wasn’t a move of unrehearsed optimism by Morawiecki â€“ far from it. â€œMany of them have approached usâ€ Morawiecki said in an interview with the Financial Times. â€œThere is clearly increased interest in leaving London.â€
Proud To Be Polish
Such interest in Poland as a commercial proposition for big business and high finance is long overdue. Since the late 1980s Poland has been the standard-bearer in the East for how to run a country democratically, and for many years has boasted a living standard on a par to that of the wealthiest nations in the West, and with health and education systems that are ranked among the best in the world.
No country suffered more in WW2 than Poland, and their subsequent virtual occupation by Soviet Russia from 1945 until 1989 stunted the country’s development, if not their spirit. However it would be Poland, led by labor activist turned politician Lech Walesa and his Solidarity party in 1989 that would become the first nation to break free from communism, leading to a domino effect with other Eastern Bloc countries rapidly following suite, which would ultimately result in the all-out collapse of the Soviet Union the following year.
Since those days Poland have made great strides to catch up with their Western European neighbors. Â They became members of NATO in 1999, and of the EU in 2004. In recent years Poland has achieved a ranking of “very high” on both the Human Development Index and Global Peace Index for the Safest Countries in the World to live in. Poland is an advanced, high-income economy â€“ the sixth largest in Europe and one of the fastest rising in the world.
Citizenship By Investment
Originated in the Caribbean and now popular in Western Europe, Citizenship by Investment (CBI) is the practice by some countries of offering their citizenship and passport for a specific financial investment, plus a period of residency (often token) in said country.
Caribbean nations which offer CBI programs include St Kitts and Nevis (who developed and ran the very first program back in 1984), Antigua and Barbuda,Â Saint Lucia and Dominica. Second citizenship to one of these nations benefits investors looking to get the most out of the Caribbean’s discreet banking network and take full advantage of the area’s legendary reputation as a tax-haven.
EU nations that offer CBI programs in various guises include Germany, Belgium, Austria, Portugal, Cyprus, Greece and Malta. The typical person who applies for second citizenship to an EU country is a high net-worth investor who hails from the Middle East, Africa or Asia, areas of the world whose countries are often ruled by harsh, oppressive, restrictive regimes. The passports of these countries are hardly beneficial to those looking to enjoy freedom of movement and dream of expanding their businessesÂ abroad.
EU citizenship can literally be a passport to freedom for these people, granting visa-free travel to 160+ countries worldwide, plus allowing them to live and work indefinitely in any of the 28 nations that makes up the European Union.
Does Poland Have A CBI Program?
Currently, the only guaranteed way to receive Polish citizenship is by having at least one Polish parent. Even marriage to a Pole must be for an minimum of three years before an application can be made, with two of those years spent living in Poland.
There have been hints that Poland intends to follow Eastern European nations like Russia, Bulgaria and Hungary and initiate their own Citizenship by Investment program, and that would certainly suit deputy prime minister Mateusz Morawiecki and his desire to attract wealthy foreign investors in to Poland.
As for now, 2ndPassports.com would advise anyone looking for Polish CBI not to be too downhearted, and instead point them in the direction of Hungary!
The Hungarian CBI Option
Poland may not currently have a CBI program, but their neighbors Hungary do, and the Hungarian Citizenship by Investment program is by far the best in Eastern Europe, and is also one of the fastest and most economical to obtain. Below are a list of the benefits of Hungarian citizenship.
- Hungarian Passport Grants Holder Full E.U Citizenship
- Low Taxation – Corporate Tax 19% Individual Tax 16%
- U Passport Grants Access To 170+ Countries
- Freedom To Live And Work Anywhere In Europe Unhindered
- Capital Budapest Is Most Beautiful City In Europe
- Minimum Investment Of Just €75,000
- Citizenship Plus Passports In Six Months
- No Residency Requirements
- No Dual Citizenship Restrictions
Hungary’s Immigrant Investor program became operational in 2013, and not surprisingly is already proving extremely popular among high net-worth individuals from China and the Middle East. Investors are offered fast-track permanent residency status in return for a minimum investment of €75,000 in government bonds.
Remember that Hungary is an EU member state, so a Hungarian passport means that you are free to live and work indefinitely in any European country you choose including Poland!
If you would you like to stay up to speed with any developments regarding Polish Citizenship by Investment, if you are interested in the Hungarian CBI program, or you are curious as to what other EU nations with second citizenship programs have to offer, 2ndPassports.com are here to help and advise you. You may even like to know more about CBI programs in the Caribbean. Whatever your interest, feel free to contact us via email, WhatsApp or Telegram.
If you would prefer to chat to one of our expert representatives directly, you can call us using our encrypted phone and Skype lines. All of our contact details are listed at the top of the 2ndPassports.com homepage.
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