In the last few decades, the number of people who have the ability and means to move around the world freely has increased. Seeing the demands, some countries have launched citizenship by investment programs, offering more visa-free travel and business opportunities.
Why do people choose to obtain a second citizenship, and how can they do it? We’ll discuss this with Elena Ruda, the chief development officer at Immigrant Invest.
What is Immigrant Invest?
Immigrant Invest is a consulting firm that works with people who want to obtain a second citizenship or residency by investment.
Since we were founded in 2006, Immigrant Invest has helped over 5,000 investors and their families acquire a second citizenship by investment. We have also become members of IMC, the worldwide association for immigration and citizenship by investment.
We have a team of 40 people across 6 offices in Austria, Turkey, Malta, Portugal, Grenada, and Cyprus. Our staff includes top local lawyers as well as specialists in international law and certified anti-money laundering compliance officers.
Which countries does Immigrant Invest help get citizenship in?
We are authorised licenced agents for citizenship by investment (CBI) programs in five Caribbean states: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia, as well as the Malta citizenship by naturalisation for exceptional services program. We also offer consultations on the CBI programs in Turkey, Egypt, and Vanuatu.
We also work with a wide choice of residency by investment programs in Malta, Greece, Portugal, Italy, Austria, Spain, Andorra, Cyprus, the United Arab Emirates, and the United States.
How do I choose a second citizenship?
There are multiple reasons why people may want to obtain a second citizenship. Some people want to live in another country for a better quality of life; others think about having more freedom to travel around the world or new business opportunities.
Different passports offer a different value in all of these aspects, and while we may have a general idea about a passport’s strength, it’s useful to put it in numbers. That’s why we have developed our own Passport Index, ranking the passports of 193 countries in four categories: freedom of travel, asset protection, quality of life, and providing a safe haven. We hope that people can refer to our rating as a first step towards fulfilling their goals.
Who can Immigrant Invest help?
We are happy to work with investors from all around the world, and there are also special programs for digital nomads and retirees. We want to help create cosmopolitans, i.e., people who want to expand their horizons beyond their own countries, whether for work or personal reasons.
Immigrant Invest is also a good fit for those who value loyalty and long-term commitment. Even years after our clients obtain citizenship or residency, we remain in touch with them and help them with new issues, such as replacing a passport or renewing their residency permit.
Is getting a second citizenship complicated?
It depends on the program. For example, the process of obtaining citizenship in Caribbean countries is relatively straightforward. The applicant can choose a real estate object out of the list of state-approved projects and submit a standard package of documents. After that, we take care of everything as a licenced agent, which can represent our clients’ interests throughout the process.
Other cases may be more complicated. For instance, in some countries, investors have to hold residency for several years before applying for citizenship. We cover all the aspects of each program and help our clients with every step along the way.
How fast can you get a second citizenship?
Vanuatu offers the fastest citizenship program: your application could be processed in just one month.
The Caribbean countries generally approve the citizenship application in six months or less if the investor meets all the requirements. The Malta citizenship by naturalisation for exceptional services program is more complicated: you would need to hold residency in the country for 1 or 3 years before applying for a passport.
What is the first step towards obtaining a second citizenship?
The first step is always defining the goals. Depending on a client’s objective, we present them with an array of investment programs that might suit them and help them pick the best of the bunch. After that, anyone who wants to apply for citizenship or residence by investment has to undergo a preliminary Due Diligence check.
Before we sign an agreement with a client, our anti-money laundering officers examine their documents and check them against international legal and financial databases to determine the likelihood of success. This procedure is confidential and takes only one day to complete. It helps reduce the chances of an application being rejected to 1%.
If the potential investor does not qualify for the program of their choice for some reason, we may recommend another program where they’ll have a better chance to succeed.
What happens after the Due Diligence check is complete?
Our lawyers prepare a clear and detailed step-by-step plan for our client that covers all the nuances of the chosen program. It starts with listing a complete package of documents necessary for the application. We help the client gather all the documents, translate them, notarize the copies, and fill out the required government forms if necessary.
We closely follow the entire process after the application has been submitted. If the client wants assistance in choosing property, obtaining a taxpayer number, or any other issue, we are always there to help them.
How can Immigrant Invest help their clients if something goes wrong?
It is our job to find a solution to any problem that may arise, and it is not limited to the application procedure as such. Our team includes lawyers specialising in different fields, real estate experts, and local representatives. With their help, we can come up with a solution for every problem and design several alternative plans.
For example, let’s look at our recent case: a couple wanted to apply for St Kitts and Nevis citizenship and obtain it as soon as possible. However, they could only be included in the same application if they formally registered their marriage, which they had not.
We needed to find a country where registering marriage would require as little bureaucracy as possible. When we did, we arranged the wedding in 3 days without troubling our clients. They only needed to fly to the place of their wedding ceremony on the appointed day.
In other cases, investors have a pretty clear objective, but they may not know all the aspects of the program they’ve chosen. One of our clients purchased an apartment in the United Arab Emirates in order to obtain a 10-year Golden Residence visa. After completing the deal, however, he found out that the apartment would not meet the requirements of the program until 2025, when it would be completed for at least 50%.
As our client wanted to become a UAE resident as soon as possible, our team recommended that he take another option: a 2-year UAE Residence Visa, which has a lower threshold for the cost of a property item acquired. He obtained it in less than 2 months and will be able to apply for the 10-year visa in 2025.
Can you guarantee second citizenship for your clients?
There is no consulting firm that can guarantee their clients that they will get second citizenship. The final decision always rests with the relevant authorities of the country where you want to obtain a passport.
However, thanks to our preliminary Due Diligence procedure, Immigrant Invest lowers the risk of rejection to 1%. Moreover, if we feel that the application may not succeed, we always provide alternative options to our clients in keeping with their objectives and with a higher chance of approval.
Why should an investor choose to work with Immigrant Invest?
We are there to take care of our clients’ needs every step along the way towards obtaining a second citizenship by investment. Normally, our clients are people with a lot of things going on in their lives, so they’d like to think that every little nuance will be taken care of without troubling them too much — and that’s what we can provide.
