What are the Most Affordable Second Citizenship Programmes?
Citizenship by investment programs offered by various countries is about the amount of money you will invest in the real state or bonds approved and provided by their governments. Thus, it is essential to know the amount investors need to pay for their second citizenship. The Caribbean countries are well-known for offering the most affordable citizenship through investment programs. Below, we will investigate the most affordable dual citizenship provided by these countries and other countries worldwide.
Dominica Economic Citizenship Programme offers two options to citizenship applicants. One should note that this donation is non-refundable.
- USD 100,000 is required for the primary applicant,
- USD 175,000 for the principal applicant and their spouse,
- USD 200,000 to cover a family of four.
Real estate investment:
At least USD 225,000 is required to be invested in a piece of real estate, plus the government charges varying according to the number of applicants (the primary applicant and their dependents). This investment should be held for at least three years; after five years, it can be sold to another citizenship applicant.
You do not need to relocate to Dominica to acquire citizenship, and there are no minimum stay requirements. Visa-free access to over 120 countries is one of the significant benefits of Dominican citizenship.
Antigua and Barbuda
The government of Antigua and Barbuda offers three citizenship-by-investment programs:
- Donations to the government: This non-refundable amount starts from USD 130,000 with a processing fee of USD 25,000 charged by the government for a family of four.
- Real estate investment: Real estate investments start from USD 230,000 with a government fee of USD 50,000 (including taxes and various charges). This option also covers a family of four. For reselling the piece of real estate, the applicant should hold it for at least five years.
- Business investment: A USD 1.5 million investment should be made by an individual businessman or USD 5 million in a joint venture. Each investor owns at least USD 400,000 in the project.
All of these offers can be done remotely. Visa-free access to 129 countries is possible once the applicants receive their visas.
Starting a company:
Running a firm in the UAE can secure a permanent residency for entrepreneurs and reward them with exceptional and exclusive opportunities only available through running a business in the UAE. The UAE market is thriving, and it is already a famous global business hub with a growing reputation internationally. Corporate and income tax exemption (except for oil companies and banks) is another attractive aspect of running a UAE business.
There are also other ways to obtain the UAE’s permanent residency:
- Purchasing a piece of real estate worth AED 1 million
- Signing a full-time contract as an employee (in this case, the employer should apply for the residency of their employees)
Establishing a company is still the most popular option among business people as they will not need to perform any business activities after forming a company. Yet, still, this method provides them with a fast shortcut to obtaining residency. Thus, this option can be desirable for those who want to retire or do not intend to work in the UAE.
- Family supportive programs: Applying for the UAE residency can be immediately accompanied by including the applicant’s family members (on the condition that they are eligible for the entry criteria). Because the UAE is the fourth safest country globally while owning the best hospitals and schools (only 120 international schools in Dubai only), it is an excellent place for relocation. A democratic and free lifestyle tolerant of multiple cultures makes the UAE even more attractive to foreigners.
- Unique economic opportunities: The average income of an Emirati family is AED 900,000, tax-free (personal gains in the UAE are tax-free). This allows families, even if they do not consider relocating to the UAE, to stay in the country for a couple of years and save up. The residency programs are tailored for permanent and temporary stays in the country. The initial residency visa is issued for three years and can be renewed unlimited times.
- Global mobility: Geographically speaking, the UAE connects Europe to Asia, and thus it is a fantastic place enabling access to various countries in these two regions. This is an ideal option, especially for people in business who travel a lot. Having six major international airports with two world-class airlines facilitates (geographically and financially) travelling around the world frequently. Holding a UAE residency also provides visa-free access to many countries.
- Diversity of cultures and global lifestyle: With 90% of its population being ex-pats, the UAE boasts one of the world’s most culturally diverse environments. This facilitates building a new life in another country since all cultures are welcome in the UAE.
For more details about UAE residency, talk to one of iKonnect Citizens‘ Citizenship and Residency Specialists today. Call +971 50 152 4200 or email info @ ikonnect.ae.