Requirements for Getting Second Passport by Investment

Highland Europe investment

Citizenship is something that each of us receives at birth. Most people do not even think about it, and in vain. The world is organized in such a way that passports of countries are valued in different ways. It is especially evident in the international context. With documents of one state, you can visit hundreds of countries without restriction, while the passport of another state does not allow you to travel to a neighboring country.

You should obtain a second passport to enjoy all the advantages of a world without borders, to help develop your business, or to obtain other preferences. In the past, naturalization was considered the easiest way to achieve this. For example, you had to marry a citizen of the country whose document you want to obtain. However, several decades later, it is possible to get a second passport through investment in the state.

This format of obtaining a document was initially provided by the island countries. For them, it was a way to attract investment. In return, they gave their citizenship and certain preferences for business development. However, over time, this practice has expanded not only to the island states. The expert of Immigrant Invest Evgeniya Morozova notes that in this way, it is easy to get documents of such countries as:

  • Turkey;
  • Montenegro;
  • Portugal;
  • Malta.

If you obtain documents for second citizenship in these countries, you can legally stay in them and enjoy all the benefits.

Peculiarities of obtaining citizenship for investment

The possibility of obtaining a passport for investment is a process that is regulated individually in each country. However, they are united by the fact that it is possible to obtain a document faster with the help of the investment.

Now more and more investors are interested in getting second passport. There is nothing surprising in this. The advantages of this option:

  1. Opportunity to develop your business. Investors often get special tax preferences. This makes it possible to bring the level of assets to new indicators. In the island states, the attitude to business is as loyal as possible. Many people just draw up papers to conduct their business in a particular country. Some states do not even require a long stay in their territory in order to obtain a document.
  2. Security. Investor can protect himself from troubles in his home country, political instability. Moreover, his relatives will have a chance to become citizens. There will be a simplified procedure for them. Therefore, investors often choose small islands for a quiet and comfortable life (in political terms).
  3. Possibility to travel around the world. For example, thanks to the passport of Cyprus, you can travel visa free to over 150 countries around the world. You no longer have to wait a long time for the documents to be processed and you will not get a refusal of entry. You can travel around the world with practically no barriers. Statistics show that passports of states that attract investment open access to a greater number of countries than documents of ordinary countries in Asia, Africa.
  4. Access to a high standard of living. Small countries, as well as large states like Turkey and Portugal provide access to all their advantages. For example, quality medical care. And it will be available not only to the person who has become a citizen, but also to members of his family.
  5. Getting an education. Knowledge is the key to the development of any society. Now it is enough to migrate. It will help to provide you or your child with a quality education. For example, it gives you the right to study for a more modest fee.

All this makes the paperwork process so important and attractive. It is easy to see this from your own experience.

What are the requirements to apply for a second passport?

Each country has its own second passport requirements. They appeared in order to ensure that the documents could not be obtained by fraudsters, who are trying to evade the law in this way. That’s why it takes time to process the request. It is usually about six months. But in some cases, an accelerated procedure is available. For example, when making a large capital.

The basic principle for obtaining documents is age. The main applicant must be over 18 years old. Other investment citizenship requirements also include:

  1. No criminal record. Countries are ready to accept only those who have no problems with the law. It is not difficult for most people to get such a paper.
  2. Proof that the funds were received. For example, a certificate of income or any other proof that the money was received legally. Such documents for second citizenship obtainment are required almost everywhere.
  3. The need to make an investment. Its size and purpose may vary. The most common option is the purchase of real estate from a list approved by officials. It is also possible to invest in business development. The minimum amount of investment varies greatly in the countries. This should also be taken into account when choosing the right program.

In addition, each country may have an additional list of requirements for the potential investor. For example, it includes items about the necessity to develop local businesses or to respect cultural traditions. However, all this is not so important. The main thing is to have the necessary capital. On average, an investment of 300000-400000 euros will be quite enough to initially obtain the right to stay legally in the country and enjoy all its benefits, and after a few years, to undergo a simplified procedure for obtaining citizenship. Since there are many proposals, you can find states with a lower threshold for investment.

The most common options for investment

Now you know how to obtain second citizenship by investment, but it is also important to understand where to invest. There are several main types:

  1. Donation. It is usually made to a national foundation. It supports the well-being and development of the community. The disadvantage of a donation is that you will not get your money back, it goes to the state. But the amount you have to part with is relatively small. 
  2. Purchase of real estate. This is an excellent option for those who are going to move to live in the country. It is particularly common to have houses or villas offered on the island states. You can live by the sea and enjoy the great weather. Usually, the state puts the condition that you can’t sell the property immediately after purchase. It is possible to dispose of it after 3 to 5 years.
  3. The combined model. For example, it is used in Montenegro. It is assumed that you need to invest a certain amount in a special fund, as well as acquire one of the types of real estate.

Now potential investors can choose from 10 options for work programs. It is easy to find the most suitable one among this variety, taking into account the location of the country, the preferences it offers, the size of the investment that is required to make.

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