According to a recent Gallup World Poll, over 750 million people are willing to migrate to a new country if they had the option. Whoever you are and wherever you come from, migration offers a myriad of new possibilities that can change the course of your and your family’s lives.
Unfortunately, not everyone can migrate where they want and, even if successful, it can be an extremely long wait.
Luckily, there is another option.
Read on for what you need to know about residency by investment programs in 2021.
1. What is a residency by investment?
Residency by investment programs offer high-net-worth individuals (HNWIs) the opportunity to obtain residency in another country. These immigration investor programs allow countries to raise funds and attract foreign capital. On the other hand, foreign investors can legally live in the invested country, receive fast-tracked residency or citizenship, and reap various benefits through their new visa or passport.
There are three main ways to achieve residency by investment, and they include:
- Through financial contributions (such as a donation to a Government Fund)
- By purchasing property in the country
- By investing in a company in the country
Some of the most sought-after countries that offer residency by investment programs include Bulgaria, Canada, Cyprus, Greece, Malta, Portugal, the United Kingdom, and the United States of America.
For example, if you are interested in obtaining residency by investment in the US, you can look into the USA Immigrant Investor Program, popularly known as EB-5. This program is open to individuals who invest a minimum of USD500,000 into a new commercial enterprise and create at least 10 full-time jobs for US workers within two years. This visa provides full residency for the investor and their immediate family and significantly helps the process of obtaining a green card and a highly coveted US passport.
2. What are the benefits of residency by investment?
For individuals who are able to obtain residency by investment, there are a wide array of benefits. There is no better method for individuals interested in fast-tracking their immigration to another country and ultimately obtaining a second passport than through a residency by investment program.
Depending on where you choose to go (and where you are coming from), your new visa can provide you with the opportunity to access better healthcare and higher educational standards for your family. In most cases, it also means greater employment opportunities or career prospects and relief from additional worries such as climate change and political stability.
For many individuals, one of the biggest draws is the increased freedom in mobility that they will be granted as the majority of countries that have residency by investment programs also boast strong passport rankings. Generally, these passports enable visa-free travel to over 100+ countries. This is a significant benefit for those who want to go where they want when they want.
Moreover, the tax benefits in these countries are also a favorable and attractive factor.
3. How do you consider a residency by investment program?
Before you start considering potential residency by investment programs, it is crucial that you sit down and identify your immigration goals and expectations to ensure that it is the right strategy for you. After all, different immigration goals and financial standings are going to alter the available immigration processes.
The first step is to examine why you want to immigrate to another country. It may be to start a new business, provide your family with opportunities, or something else entirely. You may want to take advantage of the global mobility that arises when you own a powerful second passport. You also may want to ensure that you have a Plan B for yourself and your loved ones’ security and safety.
Once you understand the reasons you want to immigrate, you need to set your expectations, which will play a prominent role in determining the appropriate program for you. Ask yourself if you wish to become a permanent resident or citizen of the country or whether a living visa is enough. What is your preferred timeframe? Are you looking to maintain a current business or presence in your home country?
All of these questions need to be answered as they will direct you towards different locations. For example, residency by investment programs’ approval time ranges from a few weeks to 3-6 months and even longer for more popular ones (the US has a processing time of 12-18 months). For this reason, the location of your residency by investment program may be dictated based on your desired timeframe.
Finally, you need to ensure that you have a legitimate source of funds for the residency by investment program. The financial aspect of the process is just as important as the rest of it, so make sure you know your financial standing and what size investment you can take on at this time.
4. How do I facilitate the process?
At this point, once you have considered your immigration goals, expectations, and financial standing, you can commence the process of applying for a residency by investment program. It is highly recommended that you work with professionals throughout this process as they will help you every step of the way and ensure that everything is being conducted properly and thoroughly.
Ideally, you want to work with a company that is passionate about assisting clients in becoming citizens of the world. They should be a reputable company with highly experienced employees who are able to take care of all the details associated with a residency by investment program.
For example, services should not stop at filing paperwork but also include assisting clients with real estate purchase agreements, financial services through banking partners, and company formation and structure assistance.
Whether you are looking for a new home on a permanent or semi-permanent basis, the best company will do everything they can to help make the process as easy and streamlined as possible. They will stop at nothing to make your immigration dreams a reality.
Have you ever considered obtaining residency by investment? Why or why not? Which country would you like to receive residency in? What do you think the benefits are for you and your family? Let us know your thoughts and any relevant insights or questions in the comments below!