Economic citizenship is the opportunity to purchase a passport of another country by buying real estate. In some countries, many people with financial opportunities plan to buy overseas property with the expectation of further obtaining a residence permit and citizenship. There are various reasons for this choice, from "cosmopolitanism" - a sense of belonging to humanity as a whole, unwillingness to be tied to only one nationality and territory, to purely pragmatic considerations, for example, the desire to protect themselves or to emigrate to a country with better living conditions.
Mysterious Saint Kitts and Nevis
One of the most attractive is the passport of the citizens of the Federal Republic of Saint Kitts and Nevis. The state consists of two islands in the Caribbean and was once a British colony.
As a former colony, the land left a rich heritage: English as the main language, cleanliness and order, as well as a "universal" culture. Queen Elizabeth II is the official leader of the country, despite the fact that the state is actually governed by the Prime Minister. Interestingly, formal and bureaucratic procedures take place in the British consulates.
To obtain citizenship on one of the islands, you need to buy a property worth at least $ 350,000. In addition, the need for motivation for citizenship. After submission of documents, the decision is made within two months. If everything goes well, you will be granted the right to visa-free entry to more than 100 countries, including all Schengen countries, Liechtenstein, Norway, Iceland, Canada and the UK. American visas will be issued to holders of these passports only if they file an online application on the US Federal Immigration Service website.
The passport of Saint Kitts and Nevis is second only to the passports of the United States, Australia and Great Britain. In other words, a citizen of this country has almost the same access to other countries. Given that you can get the same rights as a UK citizen, but 5-6 times cheaper, given the conditions for obtaining a UK passport, which also includes the ability to conduct business in this country and the possibility of legal residence in the UK.
Dominica awaits the islanders
If we talk about the Caribbean islands, Saint Kitts and Nevis has an alternative. Dominica is one of the Lesser Antilles in the southeastern Caribbean, and it also provides economic citizenship.
The process of applying for Dominica citizenship takes from three months to a year and requires an interview in English.
In addition, if the applicant is initially stateless, some additional fees may be refunded.
The citizenship of Dominica also makes it possible to travel almost around the world without a visa, and residents do not have to pay capital gains, inheritance and property taxes.
Dominican Republic: Holiday House
The Dominican Republic is the most popular country in the Caribbean to buy property among Russians, because it is a great beach resort. Here you can count on a passport when buying a property in the amount of 200,000 US dollars. Foreigners can know in advance the time of naturalization. From the Dominican Republic you can freely visit Argentina, Chile, Uruguay, Israel, Japan, South Korea and other countries.
Prices for Dominican real estate are constantly growing. This is due to two factors: the resort of the republic attracts more and more tourists and the infrastructure of the Caribbean islands is growing rapidly.
Bulgaria
After Saint Kitts and Nevis, the most interesting choice for "economic citizens" is Bulgaria. In addition to the fact that real estate and its location are attractive in Bulgaria in themselves, they make it possible to obtain the status of an economic citizen.
According to the law, the amount of investments of 5.12 million euros in the purchase of shares of commercial organizations trading on a regulated market in Bulgaria, that is, on the exchange, allows to obtain citizen status.
The new scheme for obtaining a permanent residence permit does not require the applicant to reside in Bulgaria for six months. Therefore, it is very attractive for those who are not able to immediately move to Bulgaria.
A permanent residence permit, and after five years and Bulgarian passports give investors and their families to EU citizens all the privileges, namely: free activities in the Schengen countries, business activities in the UK and other EU countries.
