Over the past two decades, citizenship-by-investment has become an increasingly viable option for individuals seeking an overall higher quality of life. From high profile investors looking to expand their businesses, to families seeking to secure the futures of their children, second citizenships are regarded by many as the most sound investments in a truly global future.
The challenge many potential applicants face is that the process can seem daunting at first, especially if the applicant is not presented with the right information for their particular circumstances. This short guide breaks the process down into four simple steps, providing a quick and direct overview of the quickest, safest and most hassle-free path to a second citizenship.
Step one: Find the right consultants
Navigating the application process for a second citizenship must be done through a specialized citizenship consultancy firm that has been licensed by governments around the globe to process citizenship-by-investment requests. One of the most common missteps made by applicants is skipping the initial research process, especially with regards to the consultancy they choose to take on the application process.
There are numerous firms that provide citizenship-by-investment services around the globe, with varying degrees of expertise, upfront costs and application success rates. It is of paramount importance to choose a consultancy that has had considerable experience in the industry and whose portfolio of potential citizenships features a wide array of options that suit your individual circumstances. Take the time to browse through the products and services offered by any firm you are considering, in addition to inquiring about their rate of successful applications and any testimonials offered by their previous clients. More importantly, make sure they are licensed by the governments they represent to process citizenship applications on your behalf.
Step two: Select the best program
Most world-class citizenship consultancy firms offer a wealth of programs catering to various demographics and needs. What is most important is to have a clear understanding of your particular objectives, qualifications, and budget, and to select a program that offers the most return on your particular investment.
For example, investors seeking to expand their businesses into the European market will substantially benefit from programs offered by EU nations, including citizenship-by-investment and permanent residencies. Meanwhile, individuals and families seeking the convenience of visa-free travel will find citizenship-by-investment programs offered by Commonwealth Caribbean nations like Saint Kitts and Nevis and Saint Lucia the most straightforward and surefire way to reach their target.
In all cases, take the time needed to evaluate the conditions and requirements of each program before making an investment. More importantly, make sure to seek the guidance of your consultants as they will have greater familiarity with each program’s potential and limitations.
Step Three: Make a plan
Upon selecting the best program for your particular needs and qualifications, take the time to plan the course of your application process and to discuss the necessary steps with your consultants. Creating a plan will help you form a realistic idea of the steps involved, the potential challenges to overcome, the overall duration of the process, and the investments you will need to make over the course of the process.
Planning the process and forming an understanding of the steps required will provide peace of mind and significantly reduce the potential stress of the process. For instance, clients are expected to pass the due diligence requirements of any programs of which they apply, and these can vary from one program to another. Factoring in these various details into your plan will help you avoid possible delays and will substantially increase your chances of success. Most importantly, make sure to discuss the plan with your consultant and to seek their support in addressing any concerns before the process is initiated.
Step Four: Secure investments and proceed with the application
Before beginning the application process, it is of vital importance that the financial aspects of your potential investment are in order, as many applications progress fairly quickly when handled by a qualified company. Many applicants receive their citizenships within six months of the application date, which means that the entire process and its relevant steps progress much quicker than expected. Therefore, being prepared to make the full investment amount early on in the application process will significantly accelerate one’s progress and avoid unnecessary delays.
Once the investment is made, the process becomes largely straightforward, with many programs requiring little to no involvement by the applicant. Application processes rarely — if ever — deviate from their original plan, which in and of itself is a considerable advantage.
The above steps apply to even the most demanding citizenship-by-investment or permanent residency programs. With the right consultants at your side, the process ends up being simple, straightforward, and ultimately surprisingly fast considering the many benefits offered by a successful application.
For more information, please refer to Bluemina’s country program summary page or schedule a consultancy session with one of our experienced team members.
As Bluemina’s Head of Development, and having worked with hundreds of families looking for Citizenship and Residency through investment in the past 10 years, I was able to form a well-rounded idea of how different programs cater to the needs of different families. I attempt to address my findings in my blog, so keep an eye on my newest posts to further understand your options and see what works best for your specific case.
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