A wide array of accompanying benefits has made investment citizenship a popular option for business expansion. With favorable corporate taxes, a positive business ecosystem, and the support of the chosen national infrastructure, many entrepreneurs have opted for a second passport as a means of expanding their operations internationally.
An often overlooked benefit of investment immigration is the fact that the golden visa can be extended to family members, allowing the whole family to make the most of the opportunities provided by their new chosen home. The length of the procedure for extending the citizenship to family members varies from country to country, as does the amount of the accompanying paperwork. Over the following lines we will examine some of the more popular business immigration programs with a specific focus on family benefits.
Due to its Mediterranean geography, full EU membership and a high standard of living, Malta residency stands out among all current investment citizenship options as an excellent destination for the whole family. The Malta golden visa program allows you to include your closest family members: spouse, underage children, adult dependent children up to the age of 26, as well as any dependent parents or grandparents.
The prerequisite for a citizenship application for all family members is a previous resident status of at least 12 months, which does not require actual physical residence, only a valid permit. Once the investor meets the financial terms of the application and all applicants go through diligence checks, they receive a Maltese citizenship valid for life which can be extended to any future descendants. The Maltese passport allows you to live, work and own property anywhere in the EU and offers visa-free travel in more than 150 countries, including the UK and the USA.
Grenada is a slice of Caribbean paradise that offers one of the fastest and most affordable citizenship programs in the region. It is also the only program in the region whose passport provides a non-immigrant visa in the USA, as well as visa-free travel to China, among other 120 countries you can freely visit, including the EU and the UK. The procedure to obtain citizenship can be as short as 3-4 months, and it can be extended to immediate family members, including children up to the age of 25 and dependent parents over 65. The application process does not require your physical presence, and you don’t have to pay taxes on your worldwide income if you choose not to make Grenada your physical residence. But, let’s be honest, you and your family would miss out on one of the brightest Caribbean pearls.
With an excellent location, right at the meeting point of continental Europe, Africa and the Middle East, Cyprus also offers one of the most expedient and affordable citizenship programs. The country is considered one of the safest in the world, it has a top-class education system and excellent health care. The passport can also be obtained by close family members: underage children, adult children up to the age of 25 (if they are financially dependent students), as well as parents that meet certain conditions. The passport allows free travel in more than 150 countries.
Consisting of aproximately 80 islands east of Australia, Vanuatu is a tropical paradise that doubles as a tax haven, with no income, estate and gains taxes whatsoever. Vanuatu is also a member of the British Commonwealth, which means that the Vanuatu passport allows visa-free travel to the UK, the European Schengen Zone, and numerous Asian countries. The application procedure is fairly quick, usually taking no longer than a few months, and family members (spouse, financially dependent children up to the age of 25 and dependent parents over 65) are included.
A full member of the EU, set to soon join the Schengen Zone, Bulgaria offers investors financial security and a favorable tax climate. This southeastern European coutry also offers excellent health care, low cost of living and a high degree of personal safety. The application process usually takes about two years, including the obligatory year long resident status (which does not require actual physical presence). The golden passport extends to closest family members, which can all enjoy unlimited visa-free travel within Europe.
To conclude, investment citizenship is not only a major financial undertaking, but potentially a decision that will affect your entire family. When considering the variety of programs on offer, make sure you choose a package that allows the whole family to reap the full benefits of a second passport.