It is another edition of our bi-monthly Newsletter “The Wealth Office”. Please check out our previous editions here
In the last edition, we engaged you on the Maltese and St-Lucia Citizenship by investment programs. We hope that you found it interesting and enlightening. We are always an email away from answering any further queries you might have with respect to the programs.
In this edition, we are excited to share four (4) more Citizenship and Residency by Investment programs. The countries we would be examining are The United Kingdom (UK), the United States of America (USA), Canada and Portugal.
The United Kingdom (UK)
The United Kingdom is known to be a very attractive destination for business and residence. It also boasts as one of the best educational institutions destinations in the world.
The UK offers two Citizenship by Investment programs. To obtain British citizenship, one can either take the route of the Tier 1 Investor Immigration Program or the Innovator Program.
For the Investor Program, anyone desirous of going through this route must do the following:
- Invest the sum of GBP 2 million in the capital of UK-Based companies irrespective of the number of dependent within 3 months of entry into the UK and must have held that fund for a period of 2 years prior to the application;
- Contribute to the UK National Health Service (NHS);
- Pass the Life in the UK Test and English Language Test.
This route grants the applicant an initial visa period of 3 years four months is granted subject to extension. British citizenship can be obtained after five (5) years of continuous lawful residence.
The Innovator Program is aimed at those who can demonstrate relevant experience in business and requires individuals to set up or run an existing business in the UK. To qualify, an applicant must:
- Have at least GBP 50,000 in investment funds if the applicant intends on setting up a new business;
- Have a new and viable business idea with business potential for growth which must be approved by an endorsing body.
This application can be packaged for a single individual or with a partner. If it is a team, each innovator must contribute £50,000.
The United States of America (U.S)
The United States of America offers wealthy investors a simple and hassle-free path to the Green card through the EB-5 Program. Under this program, an applicant is required to make an at-risk investment in a commercial enterprise in the U.S. and create at least ten full-time jobs for U.S. citizens or permanent residents.
The program grants conditional permanent residence for two years, which means the investor, spouse, and dependent children aged below 21 years begin enjoying all the rights and privileges available to Green card holders within just two years.
To qualify for this, an applicant must:
- Make a minimum investment of $1,000,000 in a commercial enterprise in the United States; or $500,000 if the investment is in a targeted employment area. (It should be noted that the Federal Court has on June 22nd, 2021 invalidated the move by the US Authorities to increase the amount for investment from $500,000 to $900,000. Thus, the $500,000 is still the current investment amount);
Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
Canada is known as one of the best countries to live in and is known for its high standard of living with a good lifestyle and high-quality education system.
Canada provides four (4) main permanent residence programs. They are:
- Quebec Immigrant Investor Program (QIIP): This is suitable for business applicants;
- Federal Start-Up Visa Program: This is suitable for Entrepreneurs that have expertise working with start-ups;
- Provincial Nominee Program: This is suitable for a person who wants to settle and work in a specific province;
- Express Entry: This is suitable for skilled applicants who want to apply to immigrate to Canada.
The QIPP is the most popular and flexible Canadian Investment Migration program. Anyone looking to go through this route will be required to meet the following requirements:
- Prove a minimum net worth if at least CAD 2million;
- Commit CAD 1.2 million in a zero-interest government bond for 5 years.
Residency is granted within 48-56 months of application and an applicant qualifies for citizenship after 3 years or 1095 days of physical presence in Canada.
Portugal is considered one of the globalized nations and is ranked the third safest country in the world. It is fast becoming a preferred destination for second passport holders.
Portugal is a good option where your security and that of your family and loved ones is desired.
The Portuguese citizenship by investment offers three (3) routes. An applicant can choose any of the following options:
- Capital Transfer: For this, an applicant can either invest the sum of 350,000 Euros –committed to the capitalization of companies incorporated under Portuguese Law; or invest the sum of 350,000 euros for research activities of public or private entities that are part of the national scientific and technological system;
- Property Acquisition: For this, an applicant can either make a 500,000 euros real estate purchase or make a 350,000 euros minimum real estate purchase for refurbishment in an urban area;
- Business Investment: For this, an applicant can either facilitate the creation of 10 new jobs or commit the sum of 350,00 euros for the incorporation or increase in the share capital of a company registered in Portugal.
After fulfilling any of these conditions, a one (1) year residency is granted within 3-8 months which is renewable for two subsequent periods of two (2) years after which full Citizenship can be applied for.
We would be concluding our Citizenship by Investment Series with this edition. We understand that you might still have some queries as regards this program, not to worry, our team is always ready to answer all your queries and questions. We are committed to providing you with relevant information and advisory services as you work through your citizenship application.
Email us at firstname.lastname@example.org or you can reach us on any of our social media pages.
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