The process of immigration has seen a lot of changes over the decades, and with an ever-increasing number of countries closing up their borders and tightening up their selection processes, modern-day nomads find themselves in need of a more effective solution that will grant them a second, or even a third passport.
In order to bypass the restrictions imposed by other countries, entrepreneurs and business leaders are turning to investment immigration programs in order to speed up the application process and secure new citizenship or residency. Apart from tax optimization, having a second passport offers a multitude of benefits, including global mobility, quality of life, and numerous business opportunities. Here are the top investment immigration trends to follow this year.
Investment Citizenship: An Industry on the Rise
While it might sound like a fairly new concept, investment immigration has actually been around for several decades. It began with St. Kitts and Nevis in 1984, with the United States soon following suit in the 1990s, allowing foreigners to invest money in real estate, business, or donations in exchange for citizenship. Nowadays, the industry is blooming around the world, with as much as 14% of St. Kitts and Nevis GDP attributed to investment citizenship programs.
As things stand, an increasing number of countries around the world, including numerous powerful regions such as Germany, the United States, and Australia, are offering certain investment opportunities to people looking to invest in one of the three areas of business. With countries offering such opportunities, the recent spike in investment immigration comes as no surprise.
The People Leading the Trend
Investment immigration is not cheap by conventional standards, as different countries have their own investment requirements, usually varying in the investment amount. That is why the this global immigration trend is led by entrepreneurs and affluent business leaders looking to expand, consolidate, and create a safety net in case a business venture falls through.
According to Andrew Henderson, the founder of Nomad Capitalist, multiple passports give entrepreneurs access to new and exciting opportunities to expand their businesses. With four passports already in his possession, he is currently working towards obtaining his fifth citizenship. Along with numerous new business opportunities, there are a number of lifestyle benefits to take into account.
Requirements Vary by Country
The investment amount and application conditions can vary to a great extent depending on the country, and certain business immigration (Golden Visa) programs boast much more reasonable fees and faster processing times, in addition to visa-free mobility for the majority of countries around the world.
Malta, for instance, requires a minimum investment of EUR 290.000 in donations, bonds, and real estate, with no additional fees, which makes this Mediterranean island country an affordable choice. On the other hand, some countries retain their high investment rates, with France banking a whopping EUR 10,000.000 for residency privileges. This is why it is important to review all current investment citizenship and residency programs thoroughly in order to make an informed decision.
Diversified Business and Lifestyle Opportunities
Better prospects for business expansion, lowered tax fees and increased mobility are just a few among the obvious benefits for entrepreneurs. Prominent countries that are part of the European Union, or the Schengen zone allow for maximum global mobility, which will prove to be invaluable for business and pleasure in the long run. The applicant’s family can also enjoy the same benefits and join them in the new country.
A Strong Economic Driver
Citizenship by investment is a strong economic driver for rich countries and more modest regions alike. Such programs can greatly complement a country’s GDP, which the $1,000.000 in donations per quarter in the US alone might suggest. By pairing relatively low investment requirements with reasonable benefits, large countries like the US or Spain are able to attract an increasing number of business investors each year. The same can be said for smaller countries, such as Malta in the Mediterranean, Dominica in the Caribbean, or Vanuatu in the South Pacific.
Investment immigration has become an effective way for business leaders to secure new opportunities for their companies, as well as enjoy numerous benefits of a second passport. Global mobility is rapidly becoming the norm in the increasingly nomadic, modern world.