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Pdf Obtaining Citizenship Through Investment Programs The Case Study Of Turkey And Eu Countries Bulgaria, Malta And Cyprus

St Lucia: Investments From $100,000

We are the only law firm that has a truly global overview of and expertise in Citizenship by Investment programs. Bulgaria has strong economy with sustainable growth, enjoys low deficits and one of the lowest external debts worldwide. It applies the lowest corporate and personal income tax in the whole European Union.

The first thing that the foreign investor should do for the application of Turkish citizenship through investment is deciding types of investments he/she will apply. The lawyer shall provide legal advice to the client in which it is more logical to apply to which investment. For example, land registry transactions can be transformed into a complex process for foreigners in the acquisition of Turkish citizenship through purchasing house.

An Undiscovered Direct Eu Citizenship Programme

In this case the spouse and children under 18 will receive citizenship along with the buyer. Malta is the only country that has visa waiver agreement with United States. Once you are refused by one country, you could be automatically refused by all other CBI countries. St Lucia, Grenada, Malta, Turkey, Montenegro and other programs are complete citizenship programs offering all rights including the right to vote, holding public office and exercising political rights.

There are some exceptions to this rule for natural citizens of Portugal, Andorra, the Philippines, Equatorial Guinea, or Iberoamerican countries. Romania does not revoke the citizenship of Romanians who acquire a second passport. The Romanian government also often grants dual citizenship to Moldovans. This is specifically for citizens of other Latin countries, including Spain. This is why many Kosovars have a unique Serbian passport issued by a special passport office in Belgrade. Many Kosovars have a second or third citizenship in places they migrated to.

Malta Citizenship

Iceland joined the list of countries that recognize dual citizenship back in 2003. Additionally, some people lost their Icelandic status due to the old system. Since then, any foreign national who becomes naturalized as Finnish may keep their original citizenship. If an Egyptian citizen obtains a second citizenship, they have to inform the government of their intent to keep their original citizenship within one year. An Egyptian dual national is prohibited from enrolling in military and police academies.

So with this fast track option, you can secure EU citizenship in just over two years by doubling your investment. Another option is to invest 250,000 euros in 50% or more of the capital of a Bulgarian registered company. This company must be able to provide 10 jobs for Bulgarian citizens. The EU second residency programs offer increased freedom of movement and, potentially, an excellent second passport.

The process enters its final stage after the second investment condition is fulfilled. Our lawyers are lodging formal citizenship application with theMinistry of Justice. Consequently, a citizenship decree is being issued by the vice president through the office of thePresident of the Republic of Bulgaria.

• This being said, part of the reason an individual would be paying this rent is to obtain a powerful passport so in the end even though it is a sunk cost that cannot be recovered it can still be an excellent investment.
• As an additional layer of protection, the Economic Diversification Fund donation is held in an escrow Dominica bank account and cannot be touched unless the application is withdrawn, rejected, or approved.
• However, capital gains from the disposal of shares listed in the Bulgaria Stock Exchange or in any EU Stock Exchange are fully exempted.
• The new 2021 Bulgarian investment citizenship program provides even wider choice of investment opportunities, compared to the old program.
• Other benefits include ease of obtaining visas and access to a range of financial opportunities.

La Vida offers a choice of several citizenship by investment programmes. All official work done by us is done by a licensed immigration lawyers who know best of all how to get the applicant’s naturalization finalized. They will be backed up by financial turkish citizenship by investment and tax advisers in order to secure the best investment option for the customer and optimize eventual tax consequences. The new 2021 Bulgarian Citizenship Investment Program is meant for those who can afford the financial prerequisites.

Things to consider are tax rates, tax incentive schemes for new capital investment, or no double taxation agreements with other countries. Some countries have no capital gains tax, personal income tax, wealth tax, inheritance tax, or gift tax; no estate duty, and no income tax paid on income from dividends or interest. If the taxation aspect is important, choose a country that has the most advantageous policies. Different programs have different physical residency requirements, so you’ll need to determine if you’re looking for a country to serve as a second home and place to conduct business, or simply as a means to secure other benefits. If you’re leaning toward the latter and don’t intend to reside in the country, you’ll need to make sure you can satisfy the program’s physical residency requirements.

Purchasing government bonds is a way to obtain permanent residency or citizenship without risking capital or being personally involved in a business enterprise. The respective country’s government guarantees the bonds, and your full investment is returned without accruing interest. Unlike other citizenship by investment countries that emphasize on financial resources, Grenada encourages foreign investors to explore the beauty of country. In 2012, the Hungarian government adopted an amendment that allowed foreign nationals to become citizens of Hungary through the the option to buy citizenship by investment. Malta has been offering investor immigration programs since March 2013 to foreign nationals who are prepared to invest capital into the country’s economy.

Nationality

With the cancellation of the bond investment option, financing of the new investment requirements is no longer allowed. While the bond option was a passive, guaranteed investment, the new requirements reflect a higher risk profile. Our Bulgarian lawyers can provide more information on this new option.

The main international airport in Dominica is Melville Hall , which is where all commercial airlines land and the arrival point for most people visiting the island by air. Melville Hall Airport is located on the northeastern side of the island and is one hour from Roseau. There is also a second, smaller, international airport on the island. resident permit turkey Canefield Airport is located just outside Roseau and is mostly used by people arriving in the country by private jet. Once the CBIU verifies that the appropriate investment has been actualized in its entirety, a signed and notarized Oath of Allegiance will be submitted to the Ministry of Foreign Affairs, Immigration and Labour.

The benefits of Bulgarian permanent residency are applied to all the family members. After you get a Bulgarian residency your spouse and children can also get Bulgarian residency based on the family reunification. Yes, you can include qualified members of your family in the application or add them after you have obtained your citizenship for an additional fee. A qualified family member can be a child not older than 25 years, a spouse, and parents and in-laws older than 50 which are financially dependent on the main applicant. Henley & Partners assists international clients in obtaining residence and citizenship under the respective programs.

Joel Nagel, from Nagel & Associates Law in Pittsburgh, PA is our guest today to talk about Citizenship by Investment and Residency by Investment programs and the options that are available to the globally-minded individual. In EP 63 of the Expat Money Show, Joel talked in depth about Asset Protection. Today we have him and really go deep on Citizenship by Investment and specifically about Cyprus Residency Program and obtaining a second passport. Go someplace quiet with a pen and notepad because you’re going to want to take notes! Joel Nagel is arguably one of the most famous and well-respected lawyers in this space on the planet and has helped hundreds of clients from all over the globe to get a second residency and second passport abroad.

Section 101 of the Dominica Constitution and Section 8 and Amendment 20 of the Citizenship Act define the investor program in law, legally granting eligible persons instant citizenship in the country by a Certificate of Naturalization. In order to be considered eligible, the main applicant must be at least 18 years of age and must meet all the Dominica immigration requirements outlined resident permit turkey below. Started in 2016, Saint Lucia offers various investment options for applicants to their citizenship by investment program. Additionally, the Saint Lucian passport boasts visa-free access to 123 countries, including the Schengen Area and the United Kingdom. The real estate option in citizenship by investment programs typically requires a large purchase of local real estate.

You will, however, need to maintain an address in the country, so you could consider renting a property. Two of the options available under the Bulgaria citizenship by investment program are related to fiduciary and intellectual property contributions. In other words, an applicant can purchase intellectual property rights or stocks and shares in companies listed on the Stock Exchange in Sofia. You will be eligible to apply for Bulgarian citizenship after 5 years of holding a permanent residence permit or after 1 year of holding a permanent residence permit and doubling the investment (via the fast-track citizenship route). Astons will collect and check with due diligence all the required documents for further submission to the Bulgarian Authorities.

This spectacular score is what makes the Bulgarian passport so desired for many individuals from around the world. But we live in our age of restrictions and people are not born equal. Bulgaria enjoys sustainable economic growth and international recognition by all major credit rating agencies. This ensures the country’s favorable exposure to all international financial markets. The simplicity of the Bulgarian citizenship program ensures not only straightforward procedures, but also full legal conformity and compliance. Each free-spirited person desires to have the ability to travel visa-free around the world.

It is also possible to finance the required amount through a European bank. Despite the Commission’s criticism and the lack of benefit for the economy, the government intends to keep the scheme. On Tuesday, the parliamentary committee on legal issues adopted amendments to the Bulgarian Citizenship Act, which slightly modifies the procedure for the sale of citizenship. It is forbidden to issue a passport against a short-term investment, for example in government securities. Bulgarian citizenship has been available for sale for eight years now, but the scheme hasn’t brought any significant foreign investment into the country, a journalistic investigation by EURACTIV Bulgaria has found. Investors around the world use second passports to invest in places and projects that would otherwise not be welcome.