A Closer Look at the Requirements for Citizenship by Investment
A majority of the world’s residents claim to be happy about the countries of their birth, but there are those who wouldn’t mind getting dual citizenship. Many of those who would wish to become citizens of other countries would like to do so because of political tensions, risks to their investments, and differences with political bigwigs. If you are a wealthy individual who is facing such or other threats to your property, it is wise to consider citizenship by investment. Here, you will fast-track the naturalization process that other applicants have to go through. However, there are various requirements that you will have to fulfill for the process to succeed, and that is dependent on the immigration authorities of the country you intend to become a citizen of.
There is a certain period that you will be required to stay in a certain country as a resident before becoming a full citizen. The reason for such a sequence of events is to allow the formation of ties with the new country. You might be required to show some form of proof of this fact to the immigration officials during the course of the application.
Due to security risks that have become a global problem, a thorough background check has to be carried out. Such a measure weeds out terrorists and persons with dirty money who wish to clean it in new nations. The absence of a criminal record is a definite plus for these purposes. At times, you will be asked to prove that your income is justifiable before taking another step in the process.
You have to meet the minimum investment in place by the authorities of your target country for citizenship by investment to be granted. For instance, you could be required to contribute to a cause that is beneficial to the people, buy a certain number of government bonds, of invest in real estate for a certain duration. Also, you could be asked to venture into a trade that provides the locals with jobs.
It will be easy to travel to other countries once you get the dual citizenship of another nation. Many nations have formed economic or political blocks, meaning that you do not need a visa to travel to any of the countries in the block if you are granted the new citizenship.
A foreign nation may require you to study its language and speak it with a certain degree of fluency before being granted citizenship. In other cases, however, no such requirement has to be met.
If your country has a reciprocal visa program with the target nation, getting naturalization and expediting it will be very easy.