You may have found yourself over the last year wondering what potential exists in other parts of the world, and if so, you certainly are not alone. The COVID-19 pandemic has brought to light the desire amongst people from all over the world to change their scenery, both in terms of work and personal surroundings, making the idea of obtaining a new citizenship all the more appealing.
One problem that has historically surrounded the citizenship process in various parts of the world is time, however, more recently, increased investment opportunities and schemes for foreigners have made certain nations and continents are welcoming new citizens in what seems the blink of an eye when compared to before. In this article we will be outlining which countries have these fast citizenship processes and hopefully help you decide where in the world may be right for you once cross-border activity properly resumes after the pandemic.
Before introducing you to all the information related to fastest citizenship in the world, if you are considering options for citizenship by investment, contact us!. Our specialized team can help you with all your concerns. Click here.
Dominican Republic: The number one option for retirees
If you want to obtain a new citizenship, you have options. This is very important as countries the world over have different schemes to attract people from different demographics, for example, retirees in the case of the Dominican Republic. The Caribbean island nation presents an attractive location for prospective citizens, and the short time it takes to gain the citizenship is another pull factor, as it is only 3 years. So, what is the process?
1. Prove you have a monthly retirement income of at least US$1500
o This must be from outside of the Dominican Republic
o There is an additional US$250 needed per child under 18 and spouse
2. 2 years after application for permanent residency, apply for citizenship
o Process requires interview in Spanish
o You must also undertake a medical exam
It may seem off-putting if you do not speak Spanish, but fear not, you are actually given the questions beforehand and so preparation of answers can be done, making it possible for even those with minimal Spanish to undertake the interview properly!
Vanuatu: An investors pathway to citizenship in paradise
Straight away it is worth noting that citizenship through investment is not cheap, but if you have the funds, the doors to some of the fastest programs in the world are swung wide open. One such example is Vanuatu, where any individual with a net worth of US$500,000 or more is welcomed to apply for the passport, and potentially obtain it in as little as 2 months. The steps are as follows:
1. US$130,000 donation to government development fund
2. US$5,000 application fee must be paid
3. Wait! Once the above steps are complete you will be notified as soon as your passport is ready
Considering the cost of the process, which is higher than other programs, the relative time taken to obtain the citizenship is unmatched, making Vanuatu one of the best options for investors in the world.
St. Kitts and Nevis: A shining light amidst the COVID-19 pandemic
Another option situated within the Caribbean, where for a set price you and your family can become citizens. However, what makes this investment visa different is that there are zero requirements for the applicant, rather, you make your investment, whether it is in the form of a donation or in real estate, and then without even going to the country in person, your passport will be processed! As we have already touched upon, the form the investment you make can vary, and the value does too, depending on which option you choose:
1. Donation to the Sustainable Growth Fund (SGF)
o US$150,000 which covers up to a family of 4
2. Investment in real estate
o US$200,000 minimum which is held for 7 years
These two options are relatively close in price and mean you have an interesting choice to make if you decide the nation is for you. As well as this, there is currently (2021) a discount of US$45,000 for families looking to obtain citizenship, a saving of almost the entirety of the difference between the options outlined above, making St. Kitts and Nevis an even more attractive opportunity for foreigners looking to move abroad or just gain a second passport quickly. If you have any extra cash to spare, a 60-day fast track application is available for a little more money, making the entire program even faster!
The passport remains valid over a 10-year period, meaning renewal is not regular, and with the 37th best passport in the world in your hands providing visa-free entry to 154 nations, obtaining citizenship here sounds nothing short of brilliant!
So, if you are interested in finding out more about citizenships by investment, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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