A citizenship is no longer a right bestowed upon us purely based on the nationality of our parents. It is now a valuable commodity which can be obtained through investment into carefully selected programmes from around the world.
One such programme offers applicants the opportunity to secure a European (Cypriot) Passport through investment into their economy, either through qualifying real estate or stocks/funds. The programme is increasingly attractive to high net worth individuals.
A robust and growing economy, direct access to the European markets and tax-efficient investing are some of the many reasons wealthy individuals are choosing to take on this second passport. The qualifying investment amount is 2 million euros (Dh8.58 million), which can be sold after 60 months provided the applicant retains a property to the value of 500,000 euros in Cyprus.
Personal and asset security is an ever growing concern in today’s geopolitical environment. Wealth contingency planning is now an essential element in personal and family wealth management. A second citizenship affords the passport holder all the rights and protection that come with being a citizen in the chosen jurisdiction.
There has been an increased interest throughout the Middle East, in particularly the UAE in obtaining alternative citizenship and with the right organisation, the process is relatively simple and straightforward.
Political developments in the Middle East, China and Turkey, as well as Russia’s strained relations with the west, have led many wealthy individuals from those countries to explore alternative citizenship options.
A programme which has seen steady popularity over the years and happens to be one of the first jurisdictions to offer citizenship by investment is the British Commonwealth country of St. Kitts and Nevis in the Caribbean. For a total of $350,000 (including fees), you can secure a passport which allows visa free access to over 130 countries including Austria, the UK, Canada, France, Germany and Italy.
Source: Gulf News