Nowadays obtaining a second citizenship is receiving an increasing popularity among businessmen and entrepreneurs. However, what exactly does it mean?
Second citizenship
Second citizenship or economics citizenship implies acquisition of a passport by the non-resident of any other country, which brings to that passport holder numerous advantages. The second passport makes possible for its owner to move freely around the world, and also the possibility to leave his first passport country if necessary. Today the possibility to obtain additional citizenship as it is available in many states, however the conditions of obtaining it are not everywhere identical.
Let’s examine some jurisdictions that became popular because of the possibility to grant a citizenship.
Nevis and Saint
In order to obtain a second citizenship in this offshore zone it is necessary to, first of all, acquire real estate in the value of no less than 350 thousand dollars. Besides the financial proof, for those who wants to acquire economics citizenship in Nevis and Saint-Keats, it is necessary to prove his loyalty and law-obedience, which time-wise will take up to two months. Having a passport of this jurisdiction allows entering about 100 countries without the need to apply for visa.
Dominica
Dominica is a good option for a second citizenship, where the passport can be obtained by so far the simplest method – by investments. The value of investment must be of not less than 75 thousand dollars. The procedure of obtaining the second citizenship in Dominic takes from 3 to 12 months. Apart from that, each applicant for the citizenship is obligated to pass an interview in English. Citizenship in Dominic makes it possible to be moved into the visa-free regime for many countries.
Dominicans
Obtaining Dominican’s second citizenship is also possible through investment. In order to accelerate the process of obtaining of citizenship one can purchase real estate of the value not less than 200 thousand dollars. After that it will take only 7 months to obtain the passport.
Cyprus
Cyprus is the most popular jurisdiction for obtaining second citizenship. First of all, Cyprus is a European country with a high reputation and developed infrastructure suitable for business. Obtaining economics citizenship is very quick and takes only 3 months. The dual citizenship is permitted in Cyprus. The only downside of obtaining Cyprus citizenship is the cost of the procedure. It is necessary to invest 2.5 million Euros into the treasury of the country and to also acquire real estate for the sum of 0.5 million Euro.
Malta
Obtaining second citizenship in Malta is a very expensive procedure, as it requires an investment of 650 thousand Euro, purchase of real estate value of 350 thousand Euro and additionally to purchase bonds for 150 thousand Euro. But all these is compensated by the fact that Malta as jurisdiction has unlimited capabilities and is a member of the European Union.
Bulgaria
Among all of the jurisdictions listed above Bulgaria is especially attractive for the descendants from the countries of the CIS. According to Bulgarian legislation in order to obtain the second citizenship it is necessary not only to purchase real estate, but also to put more than 0.5 million Euro in the live commercial companies.
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