People are often looking for a way to get instant citizenship.
Even if they don’t plan on living overseas, they tell our consultants which in Globevisa that they want to have the option of dual citizenship so that if they so choose they can opt to expatriate, live in another country, and travel as a citizen of that country.
And while speed is usually an important factor when it comes to acquiring dual citizenship, I think a lot of people don’t understand just how long it can take.
But what is considered quick in the realm of dual citizenship?
Normally, people don’t want to wait around for years.But nine months,12 months, or two to three years is relatively short regarding citizenship quickly.
In this article, we are going to walk you through the process of what to expect in terms of speed and share with you with you fast-track dual citizenship.
INSTANT CITIZENSHIP BY INVESTMENT
Here at Globevisa, the team has worked with ultra-high-net-worth individuals that are looking for a 2nd passport.
They often don’t want to bother with the hassle of getting a second passport and go straight for one of the commoditized investment programs.
Whether its one of the five in the Caribbean, a couple in Europe, or one in Vanuatu- there are several quick programs to choose from.
Though, it all really depends on how fast you do your paperwork.
Some people take a year to do their paperwork. Sometimes it takes someone three to four months and another month of processing. And sometimes we file applications in three to six weeks.
While it’s hard to completely predict the approval time from the government, because it can change a bit, you can generally assume that it could take three to four months.
Some countries, like St. Kitts and Nevis, even have a 60-day rush option for an extra fee. But very few people choose to rush the process since the normal wait time is not much longer.
And as for choosing where to obtain citizenship by investment (CBI), there are at least eight countries where you can get nearly instant citizenship.
But even people with tremendous amounts of wealth don’t always choose the most expensive CBI program.
This could be because it may not add a lot to their situation. For example, if you have $300 million and you obtain a Maltese passport that allows you to visit a few extra countries visa-free, it’s not going to change your life.
Often, we see these people go to the Caribbean instead, much like the everyday entrepreneurs and investors.
But to give other countries a fair shake, let’s look at all our top suggestions for acquiring CBI in less than 6 months*.
1. Antigua & Barbuda.
Antigua and Barbuda have several options for citizenship by investment. Whether you are submitting an individual application, want to invest in real estate, or want to make a business investment, there are options. For a donation of $100,000 to the country’s National Development Fund, you can submit your application for citizenship and be approved in an average of 3-4 months. You can also choose to invest in real estate at a minimum of $200,000 or a business of $1,500,000 to obtain citizenship there.
Dominica’s economic citizenship program is a big leap forward in terms of reputability and quality of the passport you would get out of the deal. And the price tag is one of the lowest at $100,000. Plus, the timeline for citizenship is less than 6 months and you can also enjoy special rights for travel to the UK since Dominica is a Commonwealth country.
With a one-time donation of $150,000 to the national transformation fund (NTF), you can be approved within 60days of submission. Plus, there is no requirement to travel to Grenada to qualify. While your investment into the NTF is a non-refundable contribution, you can also be granted citizenship by investing at least $75,000 into real estate, with a good possibility of making a return on your investment.
4. St.kitts & Nevis
As the original CBI program, now running for 30 years, St. Kitts is regarded as having a well-run model with an average processing time of 4-6 months. Here, you can make a one-time contribution of $150,000 to the Sustainable Growth Fund or make a real estate investment between $200,000-$400,000, depending on the length of resale time.
5. St. Lucia
This Caribbean country boasts one of the least expensive CBI programs in the world. With an investment to the National Economic Fund at $100,000 being the lowest option, they also have paths through bonds, real estate, or enterprise investments. Plus, you will typically get your passport in 3-4 months or less.
Turkey has three different investment options: investing in real estate, creating jobs, or making a capital investment — with real estate being the least expensive option at $250,000. And usually, the road to dual citizenship only takes 3-4 months there.
This island nation offers one of the fastest CBI programs with an average processing time of two months. The minimum government contribution is $130,000 for a single applicant, but Vanuatu doesn’t have income tax, wealth tax, capital gains tax, or inheritance tax to worry about.
Malta also has a great CBI program, but it generally takes at least a year. Plus, it has one of the highest price tags out there. But if you’re looking for a powerful passport with access to European countries, and you have a bit more time, then it might be worth considering.
In short, commoditized CBI programs are hard to beat — particularly in the Caribbean — when it comes to speed.
For a lot of people, that is the best way to acquire dual citizenship quickly.
even if you don’t want to acquire dual citizenship right now, you can still plan for it a couple of years from now.
But don't delay too long. No matter how fast these programs may be, nothing is fast enough in an emergency. Start the process sooner rather than later.
There are different approaches to building your holistic passport portfolio and the Globevisa Group immigration experts team is ready to help you with whichever option will help you go where you're feel the best.
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