Citizenship by Investment, often referred to as Immigrant Investor Programs are created by governments to attract investment capital and business people by granting the right of residence and citizenship. The level in which one can become a citizen varies by state and is at the discretion of governments. The majority of states with such policies are small nations such as Antigua and Barbuda, Montenegro, Dominica, and St. Kitts & Nevis, however other countries such as the US, Canada, Australia, Bulgaria and the UK offer options for investors to become residents and eventually citizens.
One of the most popular and sought after is the Canadian Immigrant Investor Program. Quebec, the second most-populous province in Canada administers its own VIP Immigrant Investor Program. Similar programs exist for the US, UK, Australia, New Zealand, Bulgaria-EU and others.
The opportunity to become a citizen of Antigua and Barbuda has also become very popular. Antigua is a member of the British Commonwealth and presents diverse benefits such as visa-free travel to over 120 countries including Europe and Canada, and the opportunity to reside in one of the most desirable destinations in the Americas. The Government will limit the number of citizenships available each year, and the program will be offered solely to select individuals who invest in approved tourism projects.
The Global Demand for Citizenship by Investment
Citizenship Investment Programs have become popular among China’s wealthy to protect assets and ensure freedom of travel. Also, the Arab Spring upheaval has brought a new wave of restrictions for citizens of the Middle East who want to travel the world, driving some wealthy residents to seek second passports in exchange for investments.
Arabs and Iranians, who had already faced tighter limits on their international movements in the aftermath of 9/11, are now finding many countries wary of letting in anyone who might be seeking refuge from the instability of the past three years. Citizens of Egypt, Tunisia and Bahrain all saw the number of countries they could enter visa-free fall in the aftermath of Arab Spring unrest. But those with means have been attracted to Citizenship Investment Programs.
How Does a Immigrant Investor Program Work?
The U.K. and U.S. have long offered paths to citizenship for foreign investors. But their programs are less popular in the Middle East and China because of long waiting times and more stringent residency requirements. Typically, background information and medical certificate required for a thorough security processing. Then a final interview will take place before citizenship is granted. Passports will be issued for a five-year period. In most cases there is a residency requirement of at least 150 days during that five-years.
Papaya Hotel & Spa of Antigua and Barbuda
Papaya Hotel & Spa is the first approved projects under the Citizenship Investment Program. Currently Available Fifty five one – and two-bedroom hotel villas will be available for purchase from May 2012. Prices start at $759,000 USD. If approved for citizenship, government processing fees will be required of $40,000 US per adult and $20,000 US per child. A final interview will take place in Antigua before citizenship is granted. Passports will be issued for a five-year period. Please contact us for more information.