Residency or citizenship by investment has rapidly made the transition from a “nice-to-have” luxury to a necessary commodity in today’s fast-paced and unpredictable environment. People want to be able to conduct business and access education and healthcare with ease. They also want to be able to diversify their investment portfolio in order to drive down risks. Residency or citizenship by investment programmes give them a multitude of options and possibilities. In return, the countries that offer these schemes, see a huge influx of cash coming into their economy.
Such investment migration programmes have existed for decades and over time, have only become more diversified in their offerings. As someone who wishes to leverage a residency by investment, or citizenship by investment programme, you need to fully understand what they both offer, in order to make the right choice for yourself and your family.
Whether you are looking at a European Golden visa or a Caribbean citizenship, there are some important factors to keep in mind, including:
Access to visa-free travel
If you are investing in a second passport or permanent residency, you want to be able to access as many countries visa-free as possible. So choosing a programme that offers you the most number of countries wherein you can travel visa-free, is of critical importance. For example, a European residence card offers its owners terrific global mobility as they are able to travel visa-free to Schengen as well as many other countries and also qualify for simple visa-on-arrivals.
Minimum investment requirements
Before choosing a programme, it is very important to think about what sort of investment you want to make in order to get that second passport or residency. Many programmes offer a choice between a cheaper, non-refundable, one-time ‘contribution’ to a government fund or a more expensive investment into a government-approved property portfolio - but one that gives you some returns in the way of rent. You need to decide, based on your financial situation, on which one is the better choice for you at the time. Many property-investment routes also offer a way out of the property investment, after a minimum time commitment.
If you are interested in a cost-effective option, you can choose locations like St. Lucia, Grenada, Dominica, St. Kitts & Nevis, and Antigua and Barbuda. The choice of European countries on the other hand requires purchasing a property.
Minimum residency requirements
There are some investment migration programmes that have minimum residency requirements. And so, if you are not ready to spend any time away from your current residence, you need to narrow your list of choices down to those that have no minimum residency requirements, as is the case with all the Caribbean programmes – you don’t even need to make a single visit in order to acquire your passport/residency. Whereas with the European Golden visas, there are minimum residency requirements to consider.
The residency and citizenship by investment market is a crowded one today – and good practitioners will make it a priority to work closely with their clients and understand their circumstances and aspirations fully, before advising on the most suited programmes for them and their families.
