Citizenship Via Investment – The Time is Now
Demand for any product or service is often a catalyst for change. The same is true for immigration via investment programmes. As the desire for increased flexibility escalates, which has been the case over the past few years, citizenship via investment programmes undergo frequent amendments. Luckily, these amendments are often favourable for investors, for example, St. Lucia amended its programme requirements in December of 2016 in order to reduce overall costs. Currently, investors seeking to make a contribution to the Saint Lucia National Economic Fund can obtain second citizenship for as little as $100,000 USD—though one should note that investment amounts vary according to factors such as the number of applicants included in any given application. Similarly, in 2016 Cyprus also amended its programme to highlight business incentives and drive interest by reducing the minimum investment amount to €2 million, along with a myriad of other enhancements.
With all this positive change happening now, high net worth individuals are taking advantage before programmes are again impacted by new developments. As detailed below, the Hungary programme will soon cease to exist, necessitating the need for interested investors to act before March 31st 2017, should they wish to apply to obtain a second citizenship via this particular programme. A main advantage of the Hungary programme, is the fact that successful applicants can receive free movement throughout the Schengen zone.
Of course, reduced fees aren’t the only enticements when it comes to citizenship via investment programmes in 2017, as the process becomes more streamlined, the processing time follows suit. Under a variety of programmes, an investor and his family could obtain second citizenship in as little as three months. In many cases, without even undergoing an exploratory visit.
As each country strives for the most competitively priced offerings, the time has never been better for investors to act.