A Closer Look at the Requirements for Citizenship by Investment
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. For instance, if the individual’s assets are at risk of seizure due to litigation or political differences, impending chaos, strict currency controls, among others. 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. There exist variations in the requirements you need to fulfill in such applications but most of the basics are similar.
There is a certain period that you will be required to stay in a certain country as a resident before becoming a full citizen. With such a requirement, the immigration authorities will be satisfied that you have formed some ties with their culture and people. 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. It is the institution of such measures that the immigration authorities can weed out terror elements and persons who have looted public funds from their countries of origin. That means you need to have a clean record if the authorities are to consider your application. It is also necessary to show that your income is justifiable before being allowed to be a citizen of a particular nation.
It will be necessary to make some form of minimum investment in the country you wish to become citizen of. 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.
Some nations require you to learn their language so as to get to get citizenship by investment. In other cases, however, no such requirement has to be met.
If your country has a reciprocal visa program with the target nation, getting naturalization and expediting it will be very easy.