Citizenship By Investment FAQs
There are some of the most frequently asked questions about the citizenship by investment (CBI) scheme. These answers may help you learn more, but keep in mind that the requirements may vary in different countries, so always check before you start the process.
What Is Citizenship By Investment?
Citizen by investment, or CBI, refers to acquiring citizenship and a passport in another country by investing a significant amount of money, legally, with permission from the Government. Direct citizenship by investment doesn’t have any residency requirements, whereas indirect citizenship by investment is acquired through residency and later naturalization.
What Is A Second Passport?
A second passport is your alternate passport that is issued by a second country. It works like backup insurance that guarantees your safety and the ability to flee to another country in times of unrest like wars, political crises, or natural disasters. It gives you more travel freedom, taking advantage of visa waiver agreements between countries. For example, if you have a passport from St Kitts and Nevis, you can travel to Canada, the UK, and Europe without a visa. Grenada citizenship by investment program is popular for this reason.
What Is Naturalization?
Naturalization means that you are a resident in a second country for a certain number of years to become a citizen.
What Are The Qualifying Requirements For CBI?
To qualify, you must:
- Have no criminal record
- Pass due diligence tests
- Have a sound financial record and surplus funds to support living
- Have a clean medical record
What Is Dual Nationality or Double Citizenship?
A person holding citizenship and a passport issued by more than one country have dual nationality. For example, the USA, the UK, and Switzerland place no restrictions on holding nationalities. Some countries, including Saudi Arabia and Singapore, do not allow you to hold more than one nationality.
How Do I Apply For A Second Citizenship?
The process of applying for a second citizenship or passport is normally done through an Authorized Government Agency. An assigned Citizenship Consultant will explain the application process to you in detail, which could vary from program to program.
How Much Does Citizenship By Investment Cost?
The application costs of a citizenship by investment program depend on the program you choose and the number of family members that you are applying with. The cost will also depend on whether you choose to obtain citizenship through the Government Fund option or the Real Estate Investment option or any other option.
Does Citizenship Extend To My Spouse And Children?
Yes, citizenship is extended to your spouse, any dependent children, and dependent parents. Fees for these family members do vary from country to country. In most cases, you will be able to include your children as dependents up to the age of 30, and parents over the age of 55. This can vary slightly, as every country has different age requirements in accordance with their own legislation. Make sure you check before you start your application.