Second passport – Economic Citizenship Programs

Economic Citizenship Programs:

Second Passports for Investment

Fairly hassle-free and quick option for most

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.

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 necessary level of investment typically was set at US$ 60,000 to 70,000, although once rose as high as US$ 1.5 million in the case of the (now discontinued) Irish program.

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.

Economic Citizenship Programs:Second Passports for Investment
Fairly hassle-free and quick option for most
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.
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 necessary level of investment typically was set at US$ 60,000 to 70,000, although once rose as high as US$ 1.5 million in the case of the (now discontinued) Irish program.
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.