The pandemic of 2020 significantly altered the political landscape for many living in the U.S.
Ever since this time, Americans have sought ways to leave the country if the need should arise.
Obtaining a “golden visa” is one of the most popular methods for wealthy Americans to escape unfavourable political shifts.
With a golden visa, investors can travel through several European nations for around €100,000.
While the exact prices vary between countries, most nations seek investments in real estate or other parts of the country’s infrastructure or economy.
However, there is some uncertainty about the future of these wealth-based visas. European nations are considering implementing more restrictions or banning these visas outright.
How do you know whether you should invest in these visas or not? Will European nations continue providing these visas to foreigners willing to invest in their economies?
If you’re seeking a holistic service that can help you go to the countries where you’re treated the best, then talk to us.
We’ll help you choose the visa or residency that best suits your needs and desires. Become a client today and let Nomad Capitalist make your life easier and better.
What Is A Golden Visa?
Golden Visas allow investors from foreign countries to obtain a residence permit when they invest in real estate or in the local economy.
The term generally refers to residence or citizenship by investment schemes in Europe, since having one of these visas allows the holders to travel throughout Europe as they wish.
These visas usually enable families to travel together. So with a Golden Visa, investors can participate in local economies and increase their wealth, while also providing a better future for their family.
However, despite their popularity, the future of the Golden Visa is uncertain.
Portugal recently cancelled its Golden Visa program, prompting other countries to follow.
Portugal’s visa was one of the most popular in Europe, with over 9,000 individual applicants and over 16,000 families. While the nation nearly earned €6 billion through the program, many locals disliked the program.
As wealthy foreign investors purchased local real estate, the cost of living increased dramatically. Many Portuguese felt this was unfair, and the Golden Visa program was eventually cancelled.
Ireland cancelled its Golden Visa program not long after while other nations, such as Spain, are considering cancelling the program or removing the option to invest in real estate. Overall, the Golden Visa programs in Europe are becoming politically unpopular in their native countries spurring nations to cancel or seriously limit investment opportunities.
Yet, Americans hoping to escape the ever-uncertain political environment at home are still looking for options.
As our founder, Andrew Henderson explained: “Americans concerned about the direction of their country are increasingly realising that having dual citizenship as a backup plan is a valuable way to protect their families from the next black swan event, yet they find themselves with fewer options in Europe. The best option for these families may well be not a Golden Visa, but citizenship by investment.”
Why Choose Citizenship By Investment
Citizenship by investment sounds similar to the Golden Visa program at first glance. Both ask for a financial investment in exchange for the right to reside permanently or temporarily in the country.
However, citizenship by investment differs from Golden Visa programs in several ways.
The most prominent difference is the type of residency they bestow on the owners.
Citizenship by investment programs are sometimes called “Golden Passports.” This is a bit of a misnomer, but it helps explain the difference between a Golden Passport and a Golden Visa.
Citizenship by investment allows wealthy people to invest and gain citizenship within a few months. While Golden Visa programs can take years before the applicant can gain citizenship, Citizenship by Investment programs fast-track citizenship within a few months.
To qualify for citizenship by investment, foreigners need to meet the basic requirements established by the host country. Generally, these are the rules and conditions to qualify for a citizenship by investment program:
- Invest in local real estate
- Invest in a local public service project (parks, hospitals, etc.)
- Donate (most EU nations require at least €100,000)
Nearly a dozen countries around the world offer direct citizenship by investment:
- St. Kitts and Nevis
- Antigua and Barbuda
- St. Lucia
- Caribbean islands and members of the British Commonwealth
- Malta (part of the European Union)
- And more
Obtaining citizenship by investment is a straightforward path to having dual citizenship. It gives individuals the ability not only to live in the other country but to travel with a passport from that country.
Citizenship By Investment In The Caribbean
The Caribbean is a popular spot for expats seeking to invest in an offshore option. While offshore doesn’t mean precisely the same thing as in the 90s, it still holds several financial incentives for wealthy individuals.
Going offshore to the Caribbean affords tax incentives to those who choose to move or obtain dual citizenship.
Two of the most popular places in the Caribbean are Saint Kitts and Nevis and Turks and Caicos. These island commonwealth countries offer low to zero tax and a stable economy.
Most Caribbean islands allow dual citizenship. This allows you to retain your old citizenship while obtaining secondary citizenship with them. It’s the perfect plan B for anyone looking to have an out if their country becomes unstable or implements oppressive tax codes.
Citizenship By Investment in Malta
Malta is a small island country in the Mediterranean Sea. It offers expats a unique and beneficial dual citizenship program in their nation.
Mr. Henderson is a big advocate for dual citizenship in Malta. As he states, “Malta takes that freedom to a new level. As a member of the European Union, Maltese citizens can live, work, and study anywhere in that bloc, meaning you can obtain Maltese citizenship for your family and then relocate to Ireland, Spain, or Germany. You or your children could study there or even take up work; it’s similar to moving from California to Texas or from Ontario to Alberta.”
Malta’s citizenship by investment program grants you access to Malta’s economy, real estate, and beneficial tax code. However, you’ll also have access to over 185 countries, including the United States. You’ll also be able to travel through most of Europe freely.
We’ve only scratched the surface of the potential benefits and options available with citizenship by investment programs. If you’re feeling uncertain about the future and the direction of your home country, don’t allow yourself to feel trapped.
Mr. Henderson put it this way: “Dual citizens enjoy freedom and flexibility to live, travel, and make money around the world. And if you don’t plan on living overseas but want the options dual citizenship provides, citizenship by investment is certainly the easiest way to get it in a matter of months.”
Our team at Nomad Capitalist can make the process even easier for you. We’ve helped thousands of clients achieve financial and personal independence. Whether you’re hoping to save money on taxes or have a safe backup plan, become a client today and let us help you.