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Ways and Requirements to Obtain Second Passport & Dual Citizenship
What are the benefits of Dual Citizenship?
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Peace of mind - You always have another place to travel to in times of economic or political chaos;
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Visa-free travel (depends on citizenship);
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Financial opportunities – research is required in this case to ensure that your passport allows You to invest your money as you please;
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The potential to save thousands in taxes - Many countries around the world have a much lighter tax burden than much of the Western world, including the US.
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Ability if necessary, to renounce your current citizenship
When obtaining a second passport You will need to ensure that the country does allow dual citizenship. The ideal passport allows you to keep your nationality and obtain additional citizenship/passport later.
Beware of passport scams. Some companies/people offer citizenship options by offering “gray market” passports when a corrupted immigration officer puts Your name in the passport. The passport is real, but there is a big chance that it is not in the official passport system; Or “black market” passports, which are illegal, stolen, forged, etc.
Illegitimate passport can be canceled at any moment and, in most cases, the passport holder will be responsible for all the consequences.
There are several ways to obtain foreign citizenship:
1. Economic Citizenship or Citizenship by Investment
A country will provide you with citizenship in exchange for an investment in the country or purchase of the real estate.
In some cases, no visit is required.
Cyprus
Citizenship options:
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Investment of 2,000,000 euros into Cyprus businesses, with 500,000 euros of that allocated as a donation to the Cyprus Government’s Research Fund;
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If you are interested in donating, then you must invest 5,000,000 euros;
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Applicants may also deposit 5,000,000 euros in a Cyprus bank for three years.
Austria Citizenship Program Options:
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Negotiations with the Austrian Government to make an investment of 10,000,000 euros;
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Donation of 2,000,000 euros;
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Dual nationality is not allowed
Saint-Lucia Citizenship – starts from $100,000
Several paths are available:
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A donation of at least $100,000 to National Economic Fund – a donation depends on a number of dependents applying for citizenship - or;
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Investment of at least $300,000 in an approved real estate development, or;
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Investment of $3.5 million in an approved enterprise project
Dominica Citizenship – starts from $100,000
Dominica citizenship allows visa-free access to more than 110 countries.
You have 2 options to obtain a Dominica citizenship:
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A donation of $100,000 to the National Transformation Fund for a single applicant or $200,000 for a family of four, Or
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A real estate investment of $200,000
Antigua & Barbuda Citizenship - starts from $100,000
There are few ways to obtain citizenship through investment in Antigua and Barbuda:
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Investment in real estate of a least $400,000 or;
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A donation to the National Development Fund of $100,000, or;
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Investment of $400,000 in an existing but newly created business venture
St. Kitts & Nevis Citizenship - starts from $150,000
St. Kitts & Nevis citizens have access to more than 150 jurisdictions worldwide.
There are few ways to obtain St. Kitts & Nevis Citizenship:
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A non-refundable donation of $250,000 for a single applicant to the SIDF, a non-profit organization supporting the national economy, or;
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A non-refundable donation to the SIDF of $300,000 for an applicant with up to three dependants, as well as an additional $25,000 per additional dependent, or;
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A non-refundable contribution of $150,000 to the SGF, a fund which supports economic growth in all sectors of the economy, with an additional $25,000 for a spouse or $10,000 for each additional applicant, or;
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The purchase of real estate valued at at least $200,000 which cannot be sold for a 7-year period, or;
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The purchase of real estate valued at least $400,000 which cannot be sold for a 5-year period.
Grenada Citizenship - starts from $150,000
There are two ways to obtain Grenada citizenship through investment program:
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A donation of $150,000 to the Grenada National Transformation Fund, or;
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Real estate investment of at least $350,000
Vanuatu Citizenship - starts from $155,000
The Vanuatu Contribution Programme (VCP) is a very active citizenship by investment program, along with the Development Support Programme (DSP).
Please note that under the DSP citizens cannot vote.
Under the VCP, the requirements are:
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A minimum contribution of $130,000, plus $25,000 in processing fees, and;
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A minimum net worth of $250,000.
Moldova Citizenship – starts from $171,090
In order to qualify for citizenship, an applicant must make a minimum non-refundable contribution to the Public Investment Fund (PIF) of €100,000 for a single applicant, plus €35,000 in agent fees, government fees of €5,000, due diligence fees of €6,000, and biometric passport fees of €300.
Cambodia Citizenship – starts from 246,500
There are a few ways to obtain Cambodian citizenship:
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Invest $295,000 into the nation. The investment must be approved by either the Cambodian Development Council or by the Royal Government, or;
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Donate 245,500 for the restoration and rebuilding of Cambodia’s economy
Turkey Citizenship - starts from $400,000
There are several options to obtain citizenship of Turkey:
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Purchase a property valued at $400,000;
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Deposit $500,000 into a Turkish bank;
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Invest $500,000 in government bonds;
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Investment of $500,000 in fixed capital;
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The creation of 50 jobs in Turkey.
Canada Citizenship Program - $ 913,000USD or 1,200,000CAD
The Quebec Immigrant Investor Program
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Make a five-year term investment of C$1,200,000 with Investissement Québec
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Have, alone or with your accompanying spouse or de facto spouse, legally acquired net assets of at least C$2,000,000, excluding any amounts received by donation less than six months before your application is submitted
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Investors must obtain a Certificate of Selection of Quebec before applying for health and security screening to be admitted to Canada.
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Once admitted, you don't have to live in Quebec, as all Canadian residents have freedom of movement and establishment across provinces and territories
Malta Citizenship - from $1 million
The following investment options in Malta are currently available:
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A non-refundable contribution of at least €650,000 to National Development and Social Fund;
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Purchase of €150,000 in government bonds;
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A property transaction, which can include purchase for a minimum of €350,000 or a rental for a minimum of €16,000 per year, held for five years;
Bulgaria Citizenship Program - from $593,500
There are two investment options in Bulgaria:
1. A 1 million Bulgarian lev (564,000usd) investment in a full-guaranteed government bond for five years. The investment will be returned to the investor after the term without interest.
2. The fast-track option:
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Investment of 1 million lev (564,000usd) in government-guaranteed bonds, and;
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Investment of an additional 1 million lev (£448,443) one year later.
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At least one year of permanent residency
You must hold both investments for at least two years after the citizenship is granted.
2. Citizenship by Naturalization
Uruguay
You will be able to apply for citizenship in as little as three years if you’re married;
Singles can apply after five years;
You should live in Uruguay for the first year or so after applying for residency
Brazil
You can become a Brazilian citizen in 4 years if:
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You are willing to start a business in Brazil;
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Make an investment of US$75,000 or more;
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Make investments that qualify for residency
Paraguay Permanent Residency Program
In 3 three years of actual residency and after making an economic investment in the country – you will be able to apply for citizenship.
Panama
Once you are legally resident in Panama, you can get citizenship in 5 years.
Canada
Once you have permanent residence, you can apply for citizenship in 4 years;
You must reside in Canada most of these 4 years;
3. Citizenship by descent
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Brazil offers a one-year pathway to citizenship for anyone who has “financial responsibility” for a child born within its borders. That could even mean giving birth to a child on Brazilian soil.
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Ireland - if you have a parent of a grandparent who was born in Ireland, you qualify. All you have to do is fill out the forms.
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Israel - If you are Jewish, you are eligible to live in Israel under the Law of Return.
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Italy - if your grandparent was an Italian citizen and neither your parent (their child) nor you gave up your rights to such citizenship. All you have to do is fill out the paperwork and deal with some bureaucracy.
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Lithuania - allows those with Lithuanian heritage to go as far back as their great grandparents to obtain citizenship.
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Spain offers citizenship to Sephardic Jews as their way of making amends for expelling them from the country under the reign of King Ferdinand.
4. There are unconventional ways to get a second passport such as giving birth in a foreign country, marrying a foreign citizen, or even changing your religion.
What to consider when picking a second passport option:
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Reputation o the country
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The tax system of the country
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Visa-Free Travel Options
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Is dual citizenship allowed?
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Residency obligations
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Requirements for becoming a citizen
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Other important obligations, such as military service (Israel, Singapore)
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How well you blend into the country's population.
Here are some of the residency programs which are currently available.
Thailand residency — $ 16,900
The government of Thailand offers residency visas for wealthy foreign citizens, allowing them to live in the country for about $3,000 per year.
Packages vary and the most expensive one is $67,900 for 20 years of residency in Thailand.
Other options are:
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5-year residence visa for the one-time fee of $ 16,900
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5 -year visa for 2 persons for $25,790, plus an additional charge of $9,890 per dependent.
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20-year residence visa for a one-time fee ($67,900)
Latvia residency - $76,490
Requirements:
A minimum of $333,064 over a period of five years in a credit institution, OR
Investment in equity capital: the applicant must invest a minimum of $41,924 and must pay a minimum of $33,306 the following year
There is also an option of obtaining the residence permit by purchasing a real estate or through interest-free government bonds.
After 5 years You can apply for citizenship through naturalization.
Greece Residency – starts from $290,200
In order to obtain a residency in Greece, you are required to invest a minimum of €250,000 in properties in Greece.
Portugal Golden Visa - starts from $406,500
The applicant is allowed to choose one of the following options:
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A transfer of at least €1 million into a Portuguese bank account, or approved investment option
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€350,000 investment in research activities which are part of the national scientific and technological system
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€350,000 investment in artistic production or the national cultural heritage
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€350,000 in investment or venture capital funds committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years
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Real estate purchase of at least €500,000
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Real estate purchase of at least €350,000 for the refurbishment of properties older than 30 years, or in an area of urban regeneration
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Creation of a minimum of 10 new jobs
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€350,000 for the incorporation or increase of share capital of a Portuguese company, creating or maintaining a minimum of 5 permanent jobs for a period of three years.
Montenegro — Citizenship from $407,500
2 options for citizenship by investment in Montenegro are available:
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Invest €250,000 in a government-approved development project in an undeveloped area in the northern part of Montenegro
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Invest €450,000 in a government-approved development project in a developed area in the southern part of Montenegro
There is an additional fee of €100,000 per application, which is also be paid to the Montenegro government.
USA Residency - starts from $500,000
The EB-5 visa leads to US conditional resident status – a green card - which can lead to obtaining of U.S. passport.
2 years after a conditional residence is granted, investors and their families become eligible for permanent residency.
Investment options are the following:
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Investment of $500,000 in a rural area or area with high unemployment into a new commercial enterprise to create 10 new full-time jobs;
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Direct investment of $1 million in an American commercial enterprise;
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Funds may stay invested until the permanent resident status is granted, which is approximately 4 years.
USA Regional Center Program offers applicants:
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Invest $500,00 into a designated Regional Centre project, becoming a limited partner of the enterprise
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The applicant becomes free to live and work anywhere in the USA.
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Applicants must have a net worth of at least $1 million.
The US government passed H.R. 22 (The FAST Act), which authorizes them to revoke your passport if they believe, in their sole discretion, that you owe $52,000 in taxes.
As of May 2019, they started the process to revoke the passports of thousands of people.
US citizens who establish residency abroad can take advantage of the “Foreign Earned Income Exclusion” provision, which allows you to write off over $100,000 of income each year, tax-free.
Spain Golden Visa Program - from $580,000
Spain’s Golden Visa program can lead to citizenship as well.
The options for residency are the following:
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Minimum investment of €500,000 in real estates;
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Minimum investment of €1 million in shares of Spanish companies;
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A minimum deposit of €1 million at a Spanish bank;
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Minimum investment of €2 million in government bonds;
After five years, the applicant can request permanent residency. After 10 years, they can request for citizenship.
Australia Residency – Citizenship Program - from $1.08 million
Requirements:
A personal net worth of £1.3 million which must apply for the two years previous to the individual's application;
An investment of £885,500 into an Australia project or enterprise, which will in turn benefit the Australian economy.
Cyprus Citizenship - from $1.74 million
The following investment options are available:
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Real estate investment of at least €2 million;
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Investment of at least €2 million in businesses or companies based and operating in Cyprus;
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Investment of at least €2 million in purchase units from Alternative Investment Funds;
The residency option is available as well. The requirements are:
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The purchase of new property worth at least €300,000;
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Deposit a minimum of €30,000 from abroad into an account which will be locked for three years;
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Have an annual income of at least €30,000 deriving from abroad.
New Zealand Residency - from $1.98 million
You will be able to live, work, and study under the Investor 1 and Investor 2 Resident Visa programs.
2 options for residency:
Investor 1 Resident Visa Program requirements:
An investment of 10 million New Zealand dollars over three years.
No age limit requirement, no language requirement, and no business experience requirement
Investor 2 Resident Visa Program requirements:
An investment of 3 million New Zealand dollars over four years
Must be over 65, speak English, at least three years of business experience, and a minimum of 2.5 million New Zealand dollars in available funds or assets.
The United Kingdom Residence Visa - from £2 million
Requirements:
Investment of £2 million into the UK economy;
Applicants must be at least 18 years of age and be from outside the European Economic Area (EEA) and Switzerland;
The UK investor visa allows to stay for 3 years, 4 months, which can be extended;
Applicants can apply for indefinite leave to remain after 5 years in UK;
After spending 6 years in the country, applicants can apply for British citizenship
How can we help You with obtaining a second passport?
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How to proceed if you require assistance?
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2. We review your documents and appoint a consultant/lawyer to contact you with the brief assessment
3. You decide whether to proceed.
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Source & Copyright: The source of the above visa and immigration information and the copyright owner is the: Citizenship and Immigration Canada and Immigration Quebec
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