David Bonellie
Last updated: February 9, 2023
Economic Citizenship: Everything You Should Know
Economic Citizenship: Everything You Should Know
The citizenship by investment industry is a high-growth industry for governments, public and private businesses, real estate developers, and other ancillary services involved in the process.
What is economic citizenship, and why is it essential to individuals, their families, countries, and governments?
Which Countries Allow Economic Citizenship
Caribbean and South Pacific countries
- Antigua and Barbuda;
- Commonwealth of Dominica;
- Grenada;
- Saint Kitts and Nevis;
- Saint Lucia; and
- Vanuatu.
European countries
- Malta; and
- Turkey.
You can use our economic citizenship comparison tool to compare programs here.
Explaining Economic Citizenship
Pros for Clientele and Families
Economic citizenship by investment offers individuals and families the opportunity to become citizens in their country in exchange for a significant financial investment. Applicants will become citizens of their chosen economic citizenship upon investing.
The investments include purchasing property, donating to a government fund, buying government bonds, or investing in public projects or private companies.
The immediate benefits of dual citizenship include the following:
- Visa-free or visa-on-arrival travel to a large number of countries;
- Access to a stable and secure environment for business and investment;
- Potential tax reductions and financial privacy;
- The ability to live, work, and study in the country and, at times, several other countries with Freedom of Movement (CARICOM and the EU);
- Right to vote and participate in the country’s political process;
- The ability to legally pass on citizenship to future generations;
- Access to the country’s education and healthcare systems;
- Potential for business opportunities and job creation;
- Increase personal security and freedom of movement;
- Possibility to diversify your assets and have a plan B; and
- Access to a new culture and lifestyle.
Pros for Economic Citizenship Countries
The programs are designed to attract wealthy individuals and families looking for economic citizenship to grow their personal and business opportunities. As a result, governments can generate significant revenue through economic citizenship programs, which can be used to fund various public projects and services.
The industry has single-handedly helped small island nations increase their government revenue from the CBI programs, often reducing their spiraling debt and reliance on international loans to operate.
Additionally, larger, more established countries that offer economic citizenship are increasing their government revenue directly from investment into the country and indirectly from HNWIs bringing their network and eyes to the country.
What are Economic Golden Visas?
Some countries do not grant economic citizenship immediately upon the applicant’s investment. Instead, these countries give applicants a Golden Visa residence after they complete a qualifying investment. This can be considered an Economic Golden Visa, and citizenship may be granted in the future by naturalization.
The top European countries offering a Golden Visa are Portugal, Greece, and Spain.
Final Thoughts from Global Residence Index
We understand that time is essential in many personal and professional environments to understand the economic citizenship’s ins and outs entirely. Our expert team can help you by providing only the critical information you need to ensure success for you and your family.
If you are interested in any of the programs, why don’t you sign up for our free consultation?
FAQ
How long are Economic Citizenship Passports Valid for?
Passports are valid for either five or ten years. We can assist you with any document renewals.
Are US Citizens Free to Use Economic Citizenship Programs?
Absolutely.
Do I Need to Declare my Economic Citizenship?
It depends on your existing citizenship. We can advise you.
Is there a difference between Citizenship by Investment and Economic Citizenship?
No, they are the same, but the wording is interchangeable.
Need help?
Navigating through golden visa & citizenship by investment programs can be complex and overwhelming, regardless of the country or program you’re interested in. If you’re struggling to find clear, accurate information, you’re not alone. Our team is here to offer you clarity and reliable advice across a wide range of immigration programs.
By scheduling a consultation, you’ll receive personalized guidance tailored to your unique situation. We’re dedicated to helping you understand the details of various immigration programs, making them more straightforward so you can proceed with confidence.
During our call, we will:
Here is what to expect from a call with our advisory team:
1
We’ll answer your questions about the program and the application process, providing you with the clarity you need.
2
We’ll break down each stage of the immigration process, ensuring you know exactly what to expect.
3
We’ll help you determine if the chosen program is the right fit for you or suggest alternatives that may better align with your goals.
4
Gain access to our network of recommended local lawyers, as well as providers of eligible investment options.
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