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With globalization at its peak, it is much easier for people to travel and settle in countries outside of their residence than ever before. However, once you move to another country, you have to find out ways of securing citizenship, giving up that of your own country. As a citizen people are given a number of rights; the right to vote, tax exemptions (in some cases), right to run for office, work, set up a business, own property, etc. These are fundamental rights of all citizens, however, when you plan to settle in any country outside of your own, there are a number of ways you can secure citizenship. In this blog, we’ll explore the countries that offer citizenship by investment.
What Is Citizenship By Investment?
Citizenship by investment program is one in which anyone can buy property in any foreign country that allows citizenship by investment, of a particular value as specified, and be granted the official status of a citizen. This policy is especially beneficial for countries that are looking to generate overseas investment in the economy. The benefits of such programs are:
- Security: The second citizenship of a more stable country can allow people a chance to flee the country in case of a politically changing climate in the host country.
- Greater mobility: Some countries’ visas are quite restrictive in allowing citizens to travel to some countries or areas, more than one passport can allow for greater flexibility in this regard.
- More Business Opportunities: This is especially beneficial for people who are looking to expand their business abroad. This could mean catering to a broader client base, having access to business-friendly policies, and an opportunity to diversify.
- Better Job & Education opportunities: Most people who leave their countries, do so to have access to better education facilities and job opportunities. A second passport of a country with state-of-the-art educational facilities will ensure that your generations too will have access to equally good opportunities.
With these benefits in mind, a large number of people are readily carrying out investments in foreign countries so they may be granted citizenship.
Countries Offering Citizenship By Investment
Let’s look at the top countries that are offering citizenship by investment.
- Turkey
Turkey is a country that is admired for its Islamic history, its present rapid modernization, and tourism. Over the years, it has become a tourist hub, and an avenue for investment, primarily in real estate. Investment is coming in the real estate sector as for many, this means getting immediate immigration.
As of June 2020, the total number of applicants for citizenship by investment increased by 819% to 9,011 main applicants and 25,411 dependents. This is because unlike anywhere else, Turkey grants fast-paced citizenship within a record time of two months.
If you are interested in applying for Turkish citizenship, check out the EREB Global portal’s ‘Turkish Citizenship Programme’ a real estate acquisition portal backed by Emerging Markets Property Group (EMPG), the parent company of Zameen.com. Consultancy for this is carried out in Turkey, while you can choose to go on a tour of any Turkish city and pick the project you want to invest in.
Moreover, the Turkish Citizenship By Investment Program, unlike any other, offers a variety of lucrative avenues to park your money. With a minimum investment of $250,000, you can build your dream house and be granted citizenship in this gorgeous Mediterranean country.
Turkish real estate has seen unprecedented gains in the last few years, as prices of houses have climbed by 36% during the last year alone, while averaging 15% over the last three years. Turkey’s famous resort city, Antalya has experienced the largest growth. According to Knight Frank, an international property consultant, in a report shared in March 2021, Turkey has been termed the best country in the world for its annual price growth for houses in Q4 2020. Therefore, if you are looking to make an overseas real estate investment, Turkey is the complete package, more so as this will also make you eligible for citizenship.
- Antigua & Barbuda
This is a small Commonwealth country that has two islands by the same name: Antigua and Barbuda. For investment, you just need USD 100,000 and the entire immigration process takes around 3-4 months. What is even more exciting about this citizenship is that it allows for visa-free travel to over 151 countries.
- Cyprus
This is another European country, located on the Mediterranean Sea. For citizenship by investment, applicants need more than USD 3,500,000, while the entire process typically takes around 3 months.
Cyprus’ passport is considered the second-best passport in the world and is allowed visa-free entry to over 135 countries.
- Dominica
Dominica is a mountainous Caribbean island nation that is also offering citizenship by investment for a value of USD 220,000, whereas the process can take more than 4 months.
- Malta
This European country allows you to get citizenship at an investment of over USD 1,300,000. The processing time for this is much longer as Malta follows stringent background checks that can take a little over a year.
It’s important to note that citizenship by investment in Malta has to be a combination of at least the following three types:
- Direct, non-refundable investment
- Property investment
- Philanthropic donation
That’s it for our overview of countries offering citizenship by investment. And, again, don’t forget to check out Zameen’s Turkish citizenship programme. If you found this blog helpful and want to know more, please write to us at blog@zameen.com. Also, keep checking Pakistan’s largest property blog, Zameen Blog, for the latest news on Pakistan’s property.
