Citizenship vs Residency by Investment: Which Is Best?
We live in a global society. Today it is possible to have passports from two countries and to even have residencies in more than one country. Back in the day, people didn’t give too much thought to moving to another country or applying for residency or even citizenship papers. Today, the benefits of having two residencies or two passports are too great to be neglected. One of the best ways, and the fastest at that, to receive dual citizenship or a permanent residency card is by investment. Citizenship and residency by investments are great programs many people partake in.
Of course, the first condition is that you’re an investor in a country that offers programs like these. Programs we’re going to explain have great benefits for both the host country and the investors. While both are great options, there are differences between the two. At first, people don’t see them. But the choice between citizenship vs residency by investment is one you need to make. It is fair to ask which one is better. In this article, we are going to try and explain the differences, and which option might be the better one. We’re going to start with a residency by investment.
Residency by Investment
This term means that you have a host nation where you want to attain a permanent residency by investing your assets in that country. Permanent residency is a visa status at its core. What this means is that once you obtain it, you’ll be able to reside in that country indefinitely but without being a citizen. Many perks come with the fact that you’re now a permanent resident. First of all, you can live in that country, work, or go to school.
Their health system will also be at your disposal. But, unlike regular citizens, you will not be a part of the political scene. What this means is that you will not receive the right to vote or to run for the office. There are many ways to become a permanent resident. You can work in the named country, and go to school there, all for several years. It’s also expected that you’re fluent in the local language.
While this is the harder path, there are ways to make it easier. Residency by investment is one of the options. To become a resident this way, you need to invest your assets into the economy of the country where you want to reside. By becoming a resident of a certain country you’re entitled to various benefits. What most people experience first is the additional security of residing in a country of their choice, which in some cases is much more developed than their home country. Furthermore, it allows you more chances of travel by holding an additional passport. For the majority of people, the main reasons for this type of investment are tied to the development of business and lower taxes. It can also be useful in terms of education and the quality of life for one’s family.
What is Citizenship by Investment?
For some people being a resident is not enough. They want full citizenship and all the benefits it brings to the table. This is quite possible. As we already said this is the global society we’re living in. Numerous people hold dual citizenship. Attaining it through investment is just one of the ways you can have it. By doing it the right way you can have another citizenship quite fast. Many countries all over the world offer this type of possibility – citizenship by investment.
This is quite a straightforward process. You need to invest in a country with that program, and by meeting certain landmarks you’ll soon be entitled to their citizenship. The first country that did this was St. Kitts & Nevis way back in 1984. It is good for people who want an additional passport and for the economy of the host country. The primary benefit of such a program is that you’ll avoid the entire immigration process.
So, with proper investment, you’ll be having new citizenship in a matter of months. Sometimes, this process can be done in a matter of weeks. This is amazing, but your investment needs to be honest. Once you have citizenship you’ll start to understand just how many benefits having two passports has. First of all, there’s freedom of travel. All of a sudden you’ll have access to many more countries.
If you’re coming from a place whose passports aren’t too strong these benefits are immeasurable. Furthermore, if you move to a tropical paradise such as St Kitts & Nevis your quality of life will exponentially grow. If this is what you want to do, and spending your time operating from the Caribbean Archipelago you should seek more information at https://imperiallegal.com/citizenship-by-investment
While everything we said above is amazing, the list of benefits doesn’t end there. With residency investment, you’ll get only residency for yourself. With citizenship by investment, you’ll have a chance to receive papers for your entire family. Once your entire family is with you you’ll have more time to dedicate to your business. Making it work will only expand the benefits you have already received from investing in one of the countries having this program. The biggest benefit and the one most businessmen are seeking is tied to taxes. With lower income taxes and no such things on the property, gaining second citizenship is not a bad idea at all.
Which One is Better?
It all comes down to personal preferences. Maybe you don’t have an interest in having dual citizenship and a residency permit will do the trick for you. But, if you’re more ambitious, and want to have a second passport and be a citizen of another country you should go for it. If you ask us, citizenship by investment is a better option. It holds more power than being a citizen, and it carries much more benefits for the business, individual, and his family alike. But, you have both options laid out for you. So, you can make the decision yourself, right?