What Citizenship by Investment Requirements Do You Have to Satisfy
A majority of the world’s residents claim to be happy about the countries of their birth, but there are those who wouldn’t mind getting dual citizenship. Many of those who would wish to become citizens of other countries would like to do so because of political tensions, risks to their investments, and differences with political bigwigs. If you are a wealthy individual who is facing such or other threats to your property, it is wise to consider citizenship by investment. Here, you will fast-track the naturalization process that other applicants have to go through. However, there are various requirements that you will have to fulfill for the process to succeed, and that is dependent on the immigration authorities of the country you intend to become a citizen of.
There is a certain period that you will be required to stay in a certain country as a resident before becoming a full citizen. The reason for such a sequence of events is to allow the formation of ties with the new country. It will be necessary to demonstrate to the immigration authorities that you have some ties before being granted citizenship by investment.
Due to security risks that have become a global problem, a thorough background check has to be carried out. This measure is to prevent the granting of citizenship to terrorists and persons with illegal stashes that they wish to launder in the new country. So, if you have a record of criminal activity, it may be impossible to obtain citizenship by investment. At times, you will be asked to prove that your income is justifiable before taking another step in the process.
Some form of minimal investment is required for you to become a citizen by investment in any country. In most cases, applicants are asked to purchase government bonds, buy a home or rent one for several years, or contribute to a fund that benefits the nationals of the target country. Also, you could be asked to venture into a trade that provides the locals with jobs.
Being a citizen of a certain country has extended travel benefits such as visa-free travel. The reason is that many countries are members of economic or political blocs, meaning that you are free to travel without a visa to any of the nations.
You may be required o learn the local language before being granted citizenship by investment in a certain country. You may be lucky in some instances since not all countries have that requirement.
One factor that will influence the rate at which your naturalization will take place and if it will take place include the presence of a reciprocal visa program between your home nation and target country.
Suggested Post: Full Report