After the 2016 presidential election, so many individuals had been dreaming about transferring out of the US that Canada’s immigration web site crashed. Now, the thought of changing into an expat is getting sizzling once more. According to a current YouGov survey, 31% of Americans say they’re interested by bolting if their candidate isn’t elected within the upcoming November elections. Tom Hanks and Rita Wilson made headlines after they lately grew to become honorary Greek residents and acquired passports. And with the coronavirus pandemic proscribing journey for US residents and the facility of the US passport on the decline, it’s no shock that many Americans are investigating how they will purchase a second passport, whether or not it’s to hunt shelter out of the country or simply to have the ability to journey extra freely.
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Some international locations like Barbados and Estonia are luring distant staff with the promise of prolonged residency applications, which let you stay and work there for a specified period of time. But on the subject of acquiring an precise passport, it’s usually extra sophisticated than you’d anticipate. It can typically take as much as 5 years of dwelling in a spot to turn out to be a resident. (If Hanks and Wilson had taken the conventional path to Greek citizenship, they might have needed to make investments a number of hundred thousand in Greece actual property and stay within the nation for seven years.) Many international locations additionally require you to resign your US citizenship. But from Portugal to New Zealand, there are international locations all over the world that may welcome Americans—for a value—with citizen by funding applications that grant residency and a second passport. And because of the coronavirus pandemic, a handful of Caribbean islands are making it even simpler (and cheaper) than ever to acquire that coveted second passport.
“Demand for these programs is accelerating, just as the supply has grown globally,” says Dr. Juerg Steffen, CEO of Henley & Partners, an organization that helps folks get hold of citizenship in different international locations. “Increasingly, nations and wealthy individuals see investment migration as more than a competitive advantage. Today, it is viewed as an absolute requirement in a volatile world.”
If the thought of transferring overseas is really calling your title, listed here are among the greatest locations the place you should buy citizenship and some of the top-line particulars about what it can take to safe that second passport.
Places to Get Caribbean Citizenship
St. Kitts & Nevis
This pair of lush islands has one of many strongest passports within the Caribbean, permitting visa-free journey to greater than 100 international locations, together with Italy and the United Kingdom. Now St. Kitts & Nevis is providing a 23% low cost on citizenship by way of the tip of 2020. With a $150,000 contribution to the nation’s “Sustainable Growth Fund” and a minimal actual property funding of $200,000, a household of 4 can get hold of passports. The contribution is often $195,000.
The island of St. Lucia began providing residency to foreigners in 2015, and in accordance with Nestor Alfred, CEO of the St. Lucia Citizenship by Investment Program, about 700 folks have obtained passports since then. In May, the worth to acquire citizenship was minimize in half because of new “Covid-19 Relief” bonds: Through the tip of 2020, it’ll value $250,000 for a person and $300,000 for a household of 4. With a St. Lucia passport, you will get visa-free or visa-on-arrival entry to 146 world locations.
Antigua and Barbuda
Another twin-island nation, Antigua and Barbuda welcomes foreigners who need to stay the Caribbean dream and is making it cheaper to get a passport right here. A $100,000 donation to the nation’s improvement fund, plus an actual property funding, will safe passports for a household of 4, and the federal government lately made it cheaper so as to add extra kids. A passport right here will get you visa-free entry to 151 locations.
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The tiny Caribbean island of Dominica additionally welcomes foreigners to its stunning shores and is taken into account to be among the best international locations for citizenship by funding, since citizenship is prolonged to your partner, dependent kids and dependent dad and mom or grandparents and may also be handed on to future generations. Applicants must both make a contribution to the Economic Diversification Fund or spend money on luxurious and sustainable inns and resorts.
With a passport from Grenada, you will get visa-free entry to many international locations, together with China. There are two alternative ways to acquire citizenship, together with a $150,000 contribution to the nation’s National Transformation Fund by way of the Grenadian Citizenship-by-Investment Program or by shopping for accepted actual property with a minimal worth of $350,000
Places to Get Citizenship in Europe
Portugal has turn out to be a sizzling spot for folks seeking to give up their jobs and transfer overseas. In order to get a Portugal passport, you’ll want to take part within the Golden Visa program, which has a number of methods to qualify, together with making a donation to Portuguese artwork and tradition, investing in a enterprise, beginning a enterprise or by shopping for actual property. Fun reality: To turn out to be a citizen, you’ll must take a Portuguese historical past check.
With an actual property funding of $250,000, you should buy your manner into Turkey’s Citizenship-by-Investment Program, which secures a Turkish passport that offers you citizenship on this attractive Mediterranean nation plus visa-free or visa-on-arrival entry to 111 locations across the globe.
Malta’s Individual Investor Program is among the hottest citizenship schemes. To get Maltese citizenship it’ll value you roughly $1.1 million by way of a mixture of donations and actual property holdings. In return, you have got the suitable to stay and work in Malta or all through the EU. You’ll additionally get visa-free entry to 183 place all over the world.
The Cyprus Investment Program doesn’t come low cost: You’ll must spend about $2.5 million between donations and actual property investments, however in change you’ll have the ability to journey visa-free to 174 locations worldwide.
Austria has one of many world’s strongest passports, giving its holders visa-free entry to 187 locations worldwide, plus the suitable to stay in all EU member international locations. But it’s not low cost: You’ll must make a minimal funding of about $three.5 million.
Places to get Citizenship Around the World
If it was adequate for the Lord of the Rings, it’s adequate for you. New Zealand has made headlines with rich expats like Paypal co-founder Peter Thiel shopping for their approach to citizenship. But it doesn’t come low cost. There are two alternative ways to get citizenship in New Zealand by funding, beginning with an funding of no less than $2 million over a four-year interval.
Who wouldn’t need to stay within the South Pacific? The archipelago of Vanuatu—about 1,000 miles east of Australia—has a Development Support Program that requires a non-refundable donation to the islands of $180,000 for a household of 4. In return, you’ll get a passport that may safe visa-free journey to 116 international locations, plus the chance to name this island paradise your new residence.
Editor’s Note 7/28/20: The information about Tom Hanks and Rita Wilson receiving Greek passports was added to this story after publication.
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