There are many different reasons why a person would like to have another passport or residence. It could be a matter of physical or financial security, a better future for one’s children, traveling around the world without problems or visas, or paying fewer taxes.
Each country offers different types of residency:
- Germany: Residency Through Investment
It is possible to obtain a temporary residence permit in Germany after investing about a million euros in a project that must generate at least 10 new job posts for Germans. Additionally, investors must have a medical insurance the coverage of which is, at least, 30,000 euros. They must also prove that they are capable of maintaining themselves and their families in Germany.
Five years later, and after passing a test about the German language, and the legal and social systems in Germany, investors may apply for a permanent residency.
- Antigua and Barbuda: Passport Through Investment
In 2013, this Caribbean nation established a system through which its citizenship may be sold in exchange for an investment, just like St. Kitts.
There are two ways of obtaining the passport:
- Donating $200,000 to a charity organization.
- Buying a property for, at least, $400,000.
The investor receives his or her passport in less than four months. He or she must travel to Antigua and Barbuda to swear allegiance to the new country.
- Austria: Passport Through Investment
In Austria, the citizenship program allows people to “buy” the Austrian passport in two ways:
- Through an investment of 10 million euros in a company that creates new job posts for Austrians or that helps to increase the country’s exportations or that brings new technologies to Austria.
- Through a donation of 2 million euros to social or cultural projects.
The procedures take 10-18 months. However, it is important to highlight that this is a risky investment, for the approval of the citizenship is not guaranteed.
- Australia: Residency Through Investment
In Australia, there is an investment visa that gives people the right to have a temporary four-year residence permit. When this one expires, people may request other visas if they meet the following requirements:
- Investment of 1.5 million Australian dollars in an Australian company.
- Having, at least, 2.25 million Australian dollars in assets.
- Having an excellent record at managing businesses for, at least, three years.
- Being under 45 years of age.
- Speaking English fluently.
- Belgium: Residency Through Investment
Known as the heart of the Europe, Belgium has one of the most interesting residency programs. The residency is given to those who:
- Can prove that they have personal, professional or business ties with Belgium.
- Are highly qualified entrepreneurs or employees whose role is fundamental for a company. Self-employment is also possible.
- Have a share capital of, at least, €18,000. However, the temporary residency applicant does not have to be one of the shareholders.
The procedures to obtain the residency take about three months. The temporary one is valid for a year, but it may be annually renewed for three consecutive years. Afterward, the investor obtains the permanent residency.
Bulgaria offers its residency to foreigners with no criminal record. There are two ways to invest:
- Investing the equivalent of about half a million euros in government bonds for five years. After this period of time, the investment –and not the interests- are refunded.
- Having approximately one million euros in assets, and depositing a non-refundable amount of €180,000.
- After five years as a resident, one may obtain the Bulgarian nationality. Bulgaria recognizes the dual nationality.
It also has a residency through investment program. Only 700 individuals may obtain the residency in this way each year. As the number of applicants is higher than the number of permits given, the procedures are usually delayed even up to 12 years.
The requirements to participate in this program are:
- Having a minimum of 1.6 million Canadian dollars in assets.
- Two-year experience as a manager.
- Investing 800,000 Canadian dollars for five years.
Canada allows the dual nationality. After three years as a resident, the investor will be able to apply for the citizenship along with his or her family.