Immigration and second citizenship: explore new frontiers
“UAE Golden Visa has succeeded in maintaining a sense of security and freedom for UAE residents and foreign talent,” said John Hanafin, Founder and CEO of Huriya Private. “With a cosmopolitan culture, exceptional laws and top-notch infrastructure and business environment, the UAE continues to be the country where talent receives the recognition and opportunities they yearn for. Applying for a Golden Visa helps you expand your business horizon in the world’s most business-inspiring nation. With this visa, they can live, work or manage a 100% owned business. These long-term residence visas are issued for a period of 5 to 10 years, with hassle-free automatic renewal upon expiration.
“With the US EB-5 program, an investor receives US permanent residency which gives them the same rights and benefits as a US passport holder, except they do not yet have a passport, which is issued after holding permanent residency for five years, and that they cannot vote in a national election,” says
Preeya Malik, Managing Director, Step Global. “It is important to know that the family can maintain their green card status for an unlimited number of years simply by landing in the United States at least once every six months or by applying for a re-entry permit after long stays in outside the United States.”
Turkish citizenship by investment continues to be a popular choice among investors despite an increase in the minimum investment amount from $250,000 (Dh918,125) to $400,000 in real estate, says Michael Waechter, Managing Director, Abode Options. “Property prices in Turkey continue to appreciate, making investors confident that their investment is not at risk. Citizenship is granted through an expedited process once property is acquired. An added attraction is that Turkish citizenship provides the opportunity to relocate to the United States for residential and business purposes via the E-2 US Investor Visa as a result of the E-2 treaty between the two countries.
Canada’s stable economy, job availability, high aging population and government’s immigrant-friendly policies are the main drivers behind the growth of immigration to this North American country, says Lovedeep Singh Arora, Managing Partner and Founder, Ace Luxury Immigration Solutions.
“Another factor that has come into the spotlight recently is the labor shortage in many sectors.”
Prospective immigrants over the age of 40 can also explore opportunities in Canada. “There is no reason for those over a certain age to give up their desire to immigrate,” he adds. “Although many Canadian immigration programs favor younger applicants because of their positive influence on the economy and society, there are various alternative options for seasoned professionals to move to Canada after the age of 40. Business immigration programs often support their goals. Engage the services of an immigration attorney to guide you through all aspects of the application process. They will ensure that you meet the program criteria.
“Major EU residency programs like Portugal and Greece have seen an increase in demand given their reasonable investment programs and minimum stay requirement, as well as benefits offered to individuals,” declared
Nadine Daoud, Partner and Head of Business Development, Bluemina Citizenship & Residency.
One of the most affordable Golden Visas in Europe, the Greece Residency Program allows visa-free access to all Schengen countries. The program provides the right to apply for citizenship after seven years of residency. “Acquiring a high-end property in Greece for a minimum value of €250,000 (931,847 Dh) allows non-EU investors to obtain a residence permit within six months.”
Saint Kitts and Nevis
“This beautiful two-island nation is blessed with tropical temperatures, clear blue waters and a thriving business and tourism economy. It is well served by direct flights to and from Europe and the United States and offers residents and citizens some of the most sought-after benefits, such as dual nationality, tax-free worldwide income, the possibility of including children, parents and grandparents, as well as an expedited application process that provides approval within 60 days,” says Muhammad Faisal, CEO, iKonnect Citizens. “Real estate is one of the most popular investment options in St. Kitts and Nevis. There are two plans available with a minimum investment holding period of five years and seven years. Besides real estate investments , the other option is to contribute a minimum sum of $150,000 to the Sustainable Growth Fund (SGF) by the government.
The Portuguese Golden Visa program has seen immense traction over the past few years. It is very popular among high-profile non-European investors looking for a backup plan for their families and future generations. “This program offers investors and their family members the opportunity to travel, work, live and study freely in the 26 Schengen countries. After five years, based on current Portuguese citizenship law, investors can also apply for a Portuguese passport, which grants visa-free access to over 170 countries,” says David Machado, Partner, PTGoldenVisa.
Antigua and Barbuda
With 365 turquoise water beaches, the lush tropical islands of Antigua and Barbuda attract investors from around the world. Tourism is the main driver of gross domestic product (GDP) and generates around 60% of the island’s income. “Its CBI programs offer a unique variety of options, including contribution to the University of the West Indies Fund. It is one of the best citizenship options for large families,” says
William Hakim, Senior Manager, Second Passport Consultants.
The demand for the Saint Lucia CBI program continues to grow. His passport allows visa-free or visa-on-arrival travel to more than 146 countries. According to Cipsaintlucia.com, there are five main routes to acquiring citizenship and a second passport from this Caribbean island nation. These are Covid-19 Bond Relief, Government Bond Investment, National Economic Fund Investment, Real Estate Investment, and Business Investment.
“The newest CBI program in the Caribbean, St. Lucia is nonetheless an established program recommended for its key benefits and multiple citizenship-by-investment options,” says William Hakim, Senior Executive, Second Passport Consultants.
The Caribbean island nation of Dominica’s citizenship-by-investment program was launched in 1993 and is one of the oldest economic citizenship programs in the world. With a minimum investment of $100,000, it is the most affordable citizenship by investment program for a single applicant in the world. “After submitting a number of applications for Dominica’s Citizenship by Investment program, I would say it is one of the preferred destinations for investors around the world,” says Tony Ebraheem, Founder and Attorney, 111 Immigration. “Demand for this program is high due to the island nation’s efficiency in processing applications as well as the benefits it provides to its citizens. Additionally, Dominica has started to replace traditional passports with biometric passports, which has also helped build investor confidence in this passport. »
Grenada’s Citizenship by Investment program enables investors and their families to obtain citizenship or permanent residency. Grenada allows individuals to hold dual nationality, and its nationality can be extended to family members, such as spouse, dependent children, and dependent parents. “This is an attractive program for international investors who can increase their international mobility and business opportunities. Investors from the UAE and the GCC have been more attracted to this program as it grants visa-free entry to China and access to the United States via the E-2 Investor Visa Treaty,” says Hakim.
“Australia has formulated its 2022-23 Migration Agenda to encourage its economic recovery and improve its social unity in the post-Covid world,” says
Clint Khan, Managing Director, Y Axis. “According to the migration program, 160,000 immigrants will be allowed into the country. Australia has a wide range of job vacancies in fields such as IT and software development, engineering, finance and accounting, human resources, hospitality, sales and marketing , as well as health care and nursing.