Offshore Guidebook | Real Estate Investor Magazine REIM Offshore 2020 | Page 18

GETTING STARTED Shopping for citizenship Shopping for citizenship The cost of buying your way in: Thailand ‘Elite residency’ from R236 523 Latvia Residency from R1.13 million Saint Lucia Citizenship from R1.5 million Dominica Citizenship from R1.5 million Antigua & Barbuda Citizenship from R1.5 AMY STEADMAN million Diversify your property portfolio & gain dual citizenship through visa programmes. St. Kitts & Nevis Citizenship from R2.2 million Vanuatu Citizenship from R2.3 million Moldova Citizenship from R4.4 million Greece Residency from R4.4 million Portugal ‘Golden Visa’ from R6.1 million Montenegro Citizenship from R6.1 million U.S. Residency from R7.6 million Spain “Golden Visa” from R8.8 million Bulgaria Citizenship from R9 million Canada Citizenship from R12 million Turkey Citizenship from R1.5 million Malta Citizenship from R15 million Australia Residency from R12 million Cyprus Citizenship from R26 million New Zealand Residency from R30 million UK Visa from R35 million (Source: businessinsider.co.za) Grenada Grenada is a sovereign state in the West Indies in the Caribbean Sea, covering 344 km 2 of land. It’s considered to be one of the most valuable passports to own as it enables visa-free travel to 143 countries including the UK, USA and China. Investing in European countries 16 OFFSHORE GUIDEBOOK 2020 “CBI programmes offer you the opportunity to gain access to various countries without the lengthy Visa processes.” Grenada Citizenship from R2.2 million Cambodia Citizenship from R3.7 million In a world where everything is expected to happen instantaneously, the timeline to citizenship is a considerable factor regarding CBI programmes. Citizenship by investment cuts out the time factor for future residents, and in some cases the residency process can take as little as three months. Countries on this list include; Antigua, Barbuda, Grenada and Cyprus. Other countries also offer routes to citizenship but there are lengthier requirements. CBI programmes offer you the opportunity to gain access to various countries without the lengthy Visa process. Malta is the highest-ranking CBI passport as it enables you travel freely to over 182 countries and reside in any other EU country. As Malta is a member of the European Schengen Area you could travel visa- free throughout 26 member states. Programme & time to citizenship Antigua and Barbuda 3-4 months Grenada 4-6 months Cyprus 6-9 months Malta 12 months+ Portugal 5 years Montenegro 10 years There are many immigration agencies that include Grenada in their programmes. To access the residency programme the applicant must be able to donate an amount of about $150 000 (1.5m) depending on what agency you go through. Malta For aspiring dual-passport holders, Malta has become a popular choice for individuals wanting to live and work in the European Schengen area. It’s simplified application process for permanent residence approval takes only up to 60 days and qualify for citizenship after a 12-month residency period. Montenegro Montenegro in South East Europe will grant residency for persons in up to six months from the date of application but only grant citizenship after living there for 10 years. While the time to residency is reasonably quick, the cost involved sits quite high, starting at around R6,1 million. Perks include visa- free or visa-on-arrival access to 122 destinations (including Europe’s Schengen Area, Russia, and Turkey) while holding citizenship in an official EU candidate country. Montenegro is a multinational and multilingual European community that enjoys a mild mediterranean climate, beautiful scenery, and a low cost of living. The applicant qualifies for full citizenship and includes family members. This country offers political and economic stability, underpinned by a business-oriented government. Portugal Portugal adds itself to your list of options with their Golden Visa Portugal programme. Investors are attracted to the flexibility and benefits that come with this investment. The investor visa program was launched in 2012, where the investment of €500 000 in real estate will equip you and your family with a residency permit. A reduced option with an investment of €350 000 has been recently introduced. The golden visa can be renewed every two years if the applicant spends a minimum of two weeks in the country every two years. It’s possible to obtain a residency permit within eight to twelve months and Portuguese citizenship after five years. According to Business Insider, a survey found that 89% of people would like to own a second passport, and 34% said they had investigated obtaining a second citizenship. SOURCES Businessinsider.co.za, invest-grenada.com, henleyglobal.com, goldenvisas.com OFFSHORE GUIDEBOOK 2020 17