O. R. SalahudeenCitizenship by investment programs are programs composed by a country, to attract wealthy individuals from a different part of the world by providing the opportunity for them to become citizens of a particular country when they invest their money into the country’s economy. We would be listing the top 11 countries with the cheapest citizenship by investment in the world.
Citizenship by investment is also known as an immigrant investor program or Golden visa program. Currently, several countries offer this opportunity to foreigners for their country to earn economic investment, giving out citizenship to eligible foreigners to earn foreign capital that can be used to accelerate the development of the country’s economy.
There are several procedures involved that must be fulfilled for the investor to be eligible to acquire citizenship from a country. Usually, non-refundable contributions are made to specifically target establishments in the country.
Some countries offer this citizenship even without the individual not living in the country or not having a permanent residence. The following underlisted countries are the result of our extensive searching for countries with the cheapest citizenship by investment.
11 COUNTRIES WITH THE CHEAPEST CITIZENSHIP BY INVESTMENT
11 countries that offer citizenship by investment program to immigrants or foreigners
1. SAINT KITTS AND NEVIS
This is the first country that started citizenship by investment program and it is also the most popular program in existence. Currently, they have a new scheme that started in March 2018, 150000 USD is required in this program for a sustainable growth fund SGF. It also has a 400000 USD real investment, a property owner for 5 years. This one can be paid twice, that is USD 200000 at a time. In Saint Kitts and Nevis citizenship program, the applicant may not be a resident of the country, he or she can live outside the country and still be qualified to obtain citizenship and passport.
He or she may not have business experience, no English tests and no interviews are required.
They offer lifetime citizenship with the onetime investment program.
The family members and children of the main applicant too will be allowed to become citizens of that country as well if they apply.
The citizenship application process will be kept secret for the applicants’ benefit.
The applicant will not have to visit any country for the application process.
Saint Kitts and Nevis passports can be used to travel to countries like EU Schengen, UK, Ireland, Singapore, Switzerland, Norway, Saudi Arabia, Togo etc without a visa.
2. DOMINICA
To qualify for Citizenship by investment in Dominica the applicant or investor will make a one-time donation of 100,000USD to Dominica Government funds, and then 200,000 USD property investment in Dominica real estate market. Here are things an applicant must know about Dominica.
It is the cheapest citizenship by investment program in existence currently.
The Dominican second passport is valid for 10 years but can be renewed, though citizenship lasts for a lifetime.
They offer immediate citizenship to the investor’s family and children.
Living in the country, obtaining a permanent residence or visiting the country is not compulsory in acquiring citizenship.
No interviews, language test or business experience proof is required.
Dominica gives a confidential citizenship application process for the benefit of its investors.
Dominican passport can be used to travel to more than 100 different countries without a visa, in which the EU, UK, Switzerland, the United States are included.
3. NORTH MACEDONIA
North Macedonia a Southeastern European country that shares borders with Greece, Bulgaria, Serbia, Kosovo and Albania is another newest citizenship by investment program currently operating in Europe that is not too expensive to undertake.
The program
The North Macedonia citizenship by investment programme is designed to encourage investors to be part of the development of this recently independent country. A country that is strategically important to Eastern and Western European countries.
The citizenship by investment program allows interested applicants and their dependents to acquire citizenship of North Macedonia within 5 months. Unarguably one of the fastest in Europe currently.
The requirements
1. The applicant must be an adult over 18 years of age.
2. An Applicant should be able to Contribution or make a government donation of EUR200,000 and be ready to pay the following associated fees: Application, Due diligence fees and processing fees
3. Any applicant who intends to include dependants must pay additional charges per person.
4. The principal amount can be contributed within two years to a government-approved private investment fund.
5. Evidence or presentation of a police clearance certificate.
6. Provide a comprehensive Curriculum Vitae (CV)
7. Evidence of financial capability.
ADVANTAGES OF A NORTH MACEDONIA CITIZENSHIP BY INVESTMENT
1. Automatic citizenship of a well-organised upper-middle-income country.
2. Any successful candidate will have the freedom of travelling to 125 countries and 30 partially recognized countries/territories visa-free entry or visa on arrival.
3. Citizenship of a country soon to be a full member of the European Union.
4. Citizenship of a country that allows dual citizenship.
5. No language requirements or minimum residency by annual.
6. Finally, all it takes to get approval is 5 months making it one of the fastest in Europe.
4. NICARAGUA
Nicaragua the largest country in Central America is not an island country but shares a border coastline with the Caribbean sea and the Pacific Ocean. If you are looking for a country with a fast and the easiest permanent residency look no further than Nicaragua. Nicaragua proudly presents you with one of the cheapest cost visas that lead to citizenship which is an onwards to permanent residency.
With Nicaragua’s reforestation program it’s possible to achieve permanent residency in a short possible time. All you need to do is to invest in USD35,000, and you can easily achieve your goal of becoming a permanent resident without much paperwork.
The clutch with residency is that you should prepare to spend at least 180 days within a year in the country. The reason for this is simple, the country wants a new arrival to stay and mingle and become an important aspect of the Nicaragua nation. The belief is that your knowledge and experience will add value to the country.
The benefit of having a Nicaragua permanent residency is that while the quality of life is high surprisingly Nicaragua has one of the lowest costs of living in the whole region. Most of the essential items that are expensive elsewhere are relatively cheap in Nicaragua.
STILL ON 11 COUNTRIES WITH THE CHEAPEST CITIZENSHIP BY INVESTMENT
5. ANTIGUA AND BARBUDA
Citizenship by investment program originated in 2013, it is one of the cheapest out the countries that offer this opportunity. The investor will invest 100,000USD into the government funds. The individual will have to visit the country and spend at least 5 days in Antigua and Barbuda. The preparation of the visa will only last for 3 months. The biggest advantage of this particular program is that the passport of Antigua and Barbuda can be used to travel to about 140 countries of the world visa-free.
6. GRENADA
The Grenadines option originated in 2014 in this country, with a financial investment of 150,000 USD. The applicant must not live in the country, or have any permanent residence, and within 2 months, the applicant will have his or her second passport and citizenship. The passport can be used to travel to 131 foreign countries without a visa.
7. MONTENEGRO
Montenegro a Southern European country located on the Balkan Peninsula is worth consideration many times, in that the country is having one of the most exciting citizenship by investment programmes which is relatively affordable. It is a country where you can buy a property and get citizenship.
Interestingly Montenegro is on its way to being a member of the European Union. A country currently uses EURO as its official or national currency. It is good to know that Montenegro citizenship by investment is one of the newest in operation anywhere, in that it came to be in 2019 purposes to attract foreign direct investment into the country.
The programme
Montenegro Citizenship by investment program wants an interested applicant to make a defined economic contribution to the country’s society through investment in the development fund and invest in economic development projects approved by the Montenegro Government.
Montenegro Citizenship by investment program REQUIREMENTS
1. The applicant must be an adult over 18 years of age.
2. The applicant has choices of contributing in any of these ways:
(A) Make a contribution of EUR450,000 to development projects in the nation’s capital or the coastal areas.
(B) Make a contribution or investment of EUR250,000 to development projects in Northern or central Montenegro only.
3. Pay a processing fee of EUR15,000
4. If you as the main applicant is having dependants, the person should be ready to pay EUR 10,000 per person.
ADVANTAGES OF MONTENEGRO CITIZENSHIP BY INVESTMENT
1. The program qualifies the person full citizenship along with the dependants when granted.
2. You have the freedom of travelling to 125 countries and 36 partially recognized countries/ territories visa-free entry or visa on arrival.
3. Your real estate investment is operated by a reliable government-approved agency.
4. The location of Montenegro in Europe is an ideal place to spend the rest of your life.
5. Montenegro is a candidate for the membership of the European Union therefore you’re sure of the Schengen zone free movement
6. When you submit your completed application form it takes only 6 months to complete and get approval.
STILL ON 11 COUNTRIES WITH THE CHEAPEST CITIZENSHIP BY INVESTMENT
8. MOLDOVA
MOLDOVA is a small country located in Europe. Originated her program in 2018, and it is obtained with a Sum of 100,000 euros. The applicant is not expected to reside in the country to obtain citizenship, and the application process can take up to 3months. The Moldova passport can be used to travel to over 130 countries without a visa.
9. SAINT LUCIA
In Saint Lucia, USD 100,000 is required for the investor to St Lucia’s Government, 300000 USD property to their real estate market, 500,000 USD government bond which will be refunded to the investor after 5 years and lastly, 3,500,000USD business investment in St Lucia.
Newest citizenship by investment program launched in 2015
Visa-free travel to visit over 120 countries including the UK, EU Schengen states
Fast processing within 2 months
No requirement to live in or visit the country
Very fast processing approval time within 60 days
Confidential application process.
No income, wealth or inheritance taxes.
10. VANUATU
A one-time contribution of USD 130,000 is made to the Vanuatu Government for single. or 180,000 USD for the family. All the application processes last for just 2 months for the applicant to receive citizenship, and the second passport can be used to travel to 130 countries without a visa. Dual citizenship is permitted and no income tax, capital gain or estate taxes are demanded from applicants.
11. CANADA
In Canada, CAD 800,000 is expected to be invested by the investor every thirty days, this money will be refunded without interest after 5 years. The applicant must have a permanent residence to obtain citizenship. He or she will receive citizenship after 3 years if not living in Canada or 2 years if residing in Canada. Currently, Canada is the most expensive country that offers citizenship by investment. The passport they issue to applicants can be used to travel to more than 100 countries without a visa. He or she must be texted for English or French knowledge, must have at least 3 years of business experience. The applicant must be interviewed by the immigration officers when proved eligible will be issued citizenship and a second passport.
TOP COUNTRIES WITH THE CHEAPEST CITIZENSHIP BY INVESTMENT
Citizenship by investment originated in the year 1984, in a small island known as St Kitts and Nevis, the oldest citizenship by investment scheme was in use then, in the 1990s, commonwealth Dominica and Kitts introduced a new scheme of this program, this was known by few individuals in those days. In the year 2009, Kitts and Nevis signed a Visa Waiver agreement with Schengen states, these citizenship programs became greatly appreciated and that was how citizenship by investment became a new means of acquiring citizenship. As years go by, citizenship by investment became famous gradually, at least, 1.1% of wealthy businessmen and individuals, spend their money in the quest to obtain their Golden visa from any country of their choice that has the offer. This means of acquiring citizenship has greatly improved different countries that offer it, saving these countries from financial crises and doom, and helping them to further develop their country. For an individual already living in a foreign country, it is more profitable to become a citizen of that country, than having a permanent residence. Because it will make it possible for the immigrant to have the full right in the country which he had been restricted from, it will make it possible for the children of the immigrant to become citizens of that country, having the right to work anywhere he or she wishes, making it possible to travel to many foreign countries without a visa using the second passport, and many other benefits.
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