How much does it cost to buy a foreign passport

How much does it cost to buy a foreign passport

 

Buying your residence or citizenship in another country has become a frequent practice, especially among residents in conflict or surplus countries. But this move is not cheap.

Rich people do not spend their money on private planes, yachts or hotels, but choose to invest in obtaining citizenship or residence in another country. 89% of Britons would like to have a second passport and 34% said they are interested in investing in a double citizenship.

Moreover, more than 80% of them said they are willing to invest or donate 5% of the annual salary for the second citizenship, more than the monthly rent.

How much does it cost to buy a foreign passport 1

Fortunately for the second passport or dual citizens, some countries offer citizenship programs such as Citizenship by Investment (CIP), whereby money normally invested in real estate can buy their second passport and can thus get the elite status that comes with the double citizenship package.

The country where it is cheaper to buy a residence is Thailand, where those who want to move have to pay $ 15,902. For this amount, people enter a program that offers them the possibility to travel without a visa in 75 destinations.
The most expensive residence is the British one. Those interested in obtaining residence in the country that offers them the possibility to travel without a visa in 177 other countries have to pay 2.7 million dollars. So-called “golden visas” are very popular among Chinese millionaires who received most of these visas last year. Gold visas enable those who receive them to work in the UK for three years, and if they invest more money, they can remain permanent. Britain has several programs to obtain double or resident citizenship. The most popular such program involves a 2 million pound investment in the British economy. Applicants must be at least 18 years of age and be outside of the European Economic Area and Switzerland. The visa allows you to stay for 3 years in the UK and can then be extended for another 2 years. Applicants can opt for British citizenship after spending 6 years in the country.

Canada, citizenship from $ 800,000. The Canadian Government has created a program to attract wealthy business people across the country, in return for which they can obtain permanent residence if they meet the following criteria: demonstrate that they have business experience, have a fortune of over $ 1.6 million and if the investor and his family pass medical and security assessments. In order to get the residence, an investment of at least $ 800,000 is required for a five-year period.

US, residing at $ 500,000.To get your US residence you need in the first phase of the green card. Two years after obtaining conditional residence, investors and their families become eligible for permanent residence. They have several options: $ 500,000 in a rural or high unemployment rate that would create 10 full-time jobs or direct $ 1 million in one US enterprise. Funds must remain invested until permanent resident status, usually lasting four years.

Dominica, a 100,000-dollar citizenship.Dominica is an attractive destination for residents in more than 110 countries because it does not require an access visa. For those who want to obtain citizenship in Dominica, this can be done in two ways: through a donation of $ 100,000 / person or $ 200,000 for a family with up to 4 members to the National Transformation Fund or a real investment estate of $ 200,000.

And also for 177 destinations are given access to those who obtain Portuguese citizenship, with only 250,000 dollars invested in this country.
Buying a citizenship is not necessarily more expensive than buying a residence. In the islands of the Caribbean, Antigua, Barbuda, Grenada, St. Kitts and Navis and St. Lucia, citizenship can be purchased between $ 100,000 and $ 150,000 and can be earned within a maximum of three months. Citizenship in these islands offers visa-free travel to more than 130 destinations.

Cyprus, citizenship of 1.5 million euros. Until recently, Cyprus had the most expensive citizenship program in the world. Currently, it is the third country where double citizenship costs the most. Options include: real estate investments of at least 2 million euros or investments of at least 2 million euros in businesses or companies operating in Cyprus. Also in Cyprus you can get a residency if you buy a new property of at least 300,000 euros, you have a deposit of at least 30,000 euros blocked for three years and you have an annual income of at least 30,000 euros obtained abroad.

On the other hand, those who want the citizenship of an EU Member State, and thus get the right to work here, have to pay on top and on top. For investments of $ 1.2 million, Malta is the cheapest European country and offers citizenship to foreigners in a maximum of one year. For a double sum, citizenship can be obtained in Cyprus within 3-6 months. Most of Austria is demanding – nearly 10 million dollars invested in the country’s economy, in return for citizenship, which can be obtained in two to three years.

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