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Sometimes people are quite wary of the word migration, because some equate this concept with a forced departure from their native country. At the same time, others associate this idea with leaving abroad for permanent residence. However, modern investment programs bust the myths about migration, opening up opportunities for participants. And these possibilities the Global Citi-Zen agents are going to discuss in the article.
What is the Concept Investment Migration?
Migration is the movement of citizens of one country to another for the purpose of temporary or permanent residence. Any country restricts entry for foreigners through a visa regime. A visa allows you to stay in the country for a limited period only. In order to stay on its territory longer than the visa validity, it is necessary to issue an official status — a residence permit or citizenship.
It is important to understand that without an official status (residence permit, permanent residence, citizenship) it is impossible to live in a particular country. There are many ways to formalize these statuses: through marriage, work contract, study, family reunification, or business investment migration.
Investment migration is just one of the ways to obtain a residence permit, permanent residence or second citizenship in another country. This procedure has only two primary stages:
- You invest your own funds in the economy of the state;
- The government gives you the appropriate status and guarantees the rights.
The whole procedure is absolutely official and regulated by state programs. Thus, investment migration is the acquisition of official status for temporary or permanent residence in the country in exchange for a certain amount of investment. The procedure for obtaining citizenship by investment, although simple, also takes time and effort to figure it out. You can significantly save time by contacting professionals like investment migration firm Global CitiZen. Agents will help with the documents and answer all the necessary questions.
The Most Popular Way of Investment Migration
The most popular way to obtain a residence permit for investment is to buy residential real estate (if such an option is available in the program). Real estate in Europe is really the least risky investment. If we are talking about housing in resort towns, then it only grows in price. Therefore, when selling, you will not only return the invested funds, but also cover part of the costs of administrative services for obtaining a residence permit.
Not every object can be bought. It must meet the requirements of the program. However, you can choose from hundreds of objects in the primary and secondary markets. It can be one villa worth 500 thousand euros or several small apartments, which together will cost the same. The main thing is that their total cost should not be lower than that stated in the program.
Why Residence Permit, Permanent Residence or Citizenship in Another Country Is Needed?
- A fallback. The most common reason why people apply for a status in another state is the desire to have a backup plan in case of economic and political upheavals in their native country. For many individuals, this is a guarantee of personal security.
- Freedom of movement. The second most common reason is the ability to visit almost any country in the world without a visa. For example, the citizenship of Saint Kitts and Nevis opens the way to more than 100 countries, and the citizenship of Malta opens the way to more than 150 places.
Where Can You Apply for a Residence Permit or Second Citizenship by investment?
Europe
- Portugal. The government offers 8 ways to get a residence permit through investment. The easiest way is to buy real estate in the amount of at least 280 thousand euros. You can also invest in research activities, investment funds, cultural heritage, the purchase of government securities and business.
- Spain. A popular way is to buy residential real estate in the amount of 500 thousand euros. You can also invest in government bonds of 2 million euros or open a bank deposit for 1 million euros.
- Greece. The most popular way is the purchase of real estate in the amount of 250 thousand euros. You can also invest more than 300 thousand euros in conducting economic activities in the country.
- Malta. You can become a tax resident of this country. Investments have a type of tax that you pay annually. Its minimum amount is 15 thousand euros per year. Among the conditions are the financial independence of the applicant and the property investment in Malta. There is also an option to immediately obtain a permanent residence permit (the status gives you the rights almost like citizens). According to the conditions, you need to invest at least 175 thousand euros in government bonds or rent/buy real estate in the country.
- Cyprus. A second passport here can be obtained through a real estate investment (minimum 330 thousand euros). At the same time, the program has simple and transparent conditions.
Caribbean
Caribbean citizenship programs are very popular. They are issued for the sake of moving around the world without visas, tax residency (there are the lowest tax rates in the world). Among the options are:
- Citizenship of Dominica
- Citizenship of Saint Lucia
- Citizenship of Saint Kitts and Nevis
- Citizenship of Antigua and Barbuda
- Citizenship of Grenada.
All of these programs include two paths to obtaining a second citizenship: irrevocable investment in the National Development Fund or the purchase of a share in tourist real estate.
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