If you have considered at least once the idea of moving abroad and starting again on a blank canvas in a new environment, you would not be alone, there are lots of options for expats across the globe. Today we will outline a few of the best options in no particular order, to give you an idea of the potential that is out there, while also weighing up their advantages for different expats and perhaps to convince you that this could be the best post-pandemic investment for you.
Before introducing you to all about these three differents options to get a second passport, if you are considering options for citizenship or recidency by investment programs, contact us!. Our specialized team can help you with all your concerns. Click here
St Lucia
One of the most enticing options for citizenship by investment that we have mentioned before comes in the form of the Caribbean island of St. Lucia. Some of the pull factors to this scheme include:
1. Minimum USD$100,000 investment, one of the lower figures across the current list of available options
2. Processing time of 3 months, a very quick turnaround considering the length of the process in other circumstances, such as citizenship through residency
3. In 2020 a government bond was introduced for single applicants and this capital would be returned interest free after 5 years
If you are looking to escape to the sunshine permanently for what is essentially a donation, look no further than St. Lucia. With visa free travel to 114 countries including the EU Schengen area and UK and citizenship status available to be passed on through generations, it certainly does seem like the idyllic location to relocate.
This program is suited towards expats who may not have unlimited disposable income, and as it is a fast program, those of you looking to get your hands on your new passport (and the benefits associated with it) as soon as possible are well suited to St. Lucia!
Dominica
For this option, we are staying in the Caribbean, however, what makes Dominica different to St. Lucia is the well-established programme that was, in fact, one of the first in the world to open up citizenship to investors with relatively high levels of disposable income. Some of the benefits of putting your money here include:
1. Affordability, again a minimum investment of USD$100,000, putting it on par with the other cheaper investment programmes
2. The citizenship is confidential, there is no obligation to disclose second nationality
3. There is an option to invest in real estate, and not just make a donation to the government
Touching on the last point, by purchasing real estate of a value of at least USD$300,000, you can keep the property for three years after receiving the passport and afterwards should you wish to, you can sell it and see any potential returns on the investment or buy a different property in case you would like to experience a different region.
Not only this, but if you are looking to fully relocate, you only have to spend half of the year in the country in order to experience the taxation benefits that come with citizenship. This includes no foreign income or capital gains taxes, which is definitely a big plus. The investment donation of USD$100,000 which takes three months to process also covers an entire family and comes with visa-free travel to 152 countries, even more than St. Lucia.
Perhaps this scheme could therefore be aimed more towards families, the real estate option allowing you to receive your passport for the purchase of a family home, settling you all in quickly in your new place of residence.
Turkey
The final option we will explore today is Turkey. The programme began in 2016 and since
then has opened up to investors across the world, offering, similarly to Dominica, a chance
to invest in real estate of a value equivalent to USD$250,000 or more as well as any fees incurred during the process in return for citizenship. Some of the more interesting benefits of this scheme include:
1. Potential for residency application to the United States through the E-2 Visa treaty
2. Short application process, 2 to 3 months with lifetime citizenship available after 6
months
3. There is no period of minimum residency required of you
Additionally, it is very likely that Turkish passport holders will soon be granted visa free access to the EU Schengen area as well as 125 other countries across the globe already permitted. It definitely seems like a worthwhile investment with a rich cultural history and beautiful scenery, as well as close proximity to many other countries to explore!
So, if you are interested in finding out more about options to relocate and obtain a second passport, 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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