Citizenship-by-investment is not a new idea, but it has grown more popular in recent years. People are becoming increasingly interested in the concept of “alternative citizenship” after the COVID-19 pandemic taught us how crucial it is to have a backup plan.
So, what is citizenship by investment? Citizenship by Investment entails making an economic contribution to another country, whether by starting a business, buying real estate, or creating jobs. In exchange for making substantial contributions to the culture, economy, and society, many nations offer their own variations of second citizenship, which grants investors immediate nationality.
And there are no specific requirements for applicants other than having a clean criminal record and a clear source of funds, as well as making an investment. Through this scheme, Nigerians can now travel visa-free to more than 150 nations around the world. Not all countries grant citizenship for buying property or investing in the economy, but there are a few that do.
Countries you can become a citizen by investment.
Since it has one of the largest financial hubs. the UK is not the cheapest country to buy citizenship in, but it attracts businesses from all over the world that are eager to invest in the British economy in exchange for the right to live and work there. According to foreign investors, the UK economy routinely ranks among the top five economies with the most alluring investment prospects. Shares or bonds of current British companies must be purchased with at least £2,000,000 from investors.
As long as the initial investment amount is the same, investors have complete control over their money and can sell and buy shares of British companies. So if investors invest in their real estate, they will be able to make a huge profit from it.
Investors who become permanent residents will eventually be able to recoup their whole investment, but they and their families will only be allowed to become citizens after five years.
Those who invest in real estate are eligible for the Turkish Golden Visa program. Which provides them residency, citizenship, and a Turkish passport. Between Europe, Asia, and Africa, Turkey is ideally situated as a hub, providing strong market connections and connections for travel and trade. Families wishing to build both a place of residence and a company are in the perfect location.
Investors are particularly drawn to the real estate route. This makes Turkey one of the least expensive citizenship-by-investment programs available, requiring a minimum property purchase of $400,000 plus costs.
For individuals seeking to invest in order to obtain Turkish citizenship and residency, Turkey offers a number of advantages. You may reside in Turkey, where you may work or attend school. Travel is permitted to 125 nations and territories worldwide with a Turkish passport.
Additionally, Turkey and the US have an E2 Visa Treaty Agreement. This enables Turkish nationals who have lived in Turkey for at least three years to apply for a non-immigrant visa by starting a business there or investing in one that already exists.
Turkey is not one of the countries offering citizenship for free; however, for Turkish citizenship renewal and maintenance, there is no minimum time required. Following the success of golden visa programs in Europe, Turkey introduced its citizenship-by-investment program in 2016.
For Turkish citizenship renewal and maintenance, there is no minimum time required.
Spain is among the finest nations for citizenship by investment. She unveiled its golden visa program in 2013. with a property investment of €500,000. Every two years, the Spanish investor visa can be extended.
You do not need to remain in Spain in order to maintain and renew the resident visa permit. One may apply for permanent residency in Spain after five years of residing there. Before requesting citizenship, a person must have lived there continuously for ten years. Even though the temporary residency permit (the “golden visa”) can be easily extended without doing so. The path to both permanent residency and citizenship requires the investor and their family to remain in Spain.
Due to this, the Spanish Golden Visa program is well-liked by applicants who either want to live in Spain permanently or just have a second residence there while needing a road to citizenship.
After falling to a low in 2015, Spanish real estate prices have been steadily increasing. From around €1450 square meters in 2015 to about €1700 square meters in 2022. Attaining national growth of about 2% annually. Real estate in Spain may continue to be valuable in the future. Prices have remained below their peak of € 2101 per square meter in 2008.
Investing in real estate, which is one of the ways of becoming a citizen of a country, doesn’t work for Nigeria. Nigerian law only allows citizenship by naturalization, birth, and registration.
if you are a Nigerian by birth, then you have the right as a Nigerian citizen.
A person who marries someone in a certain country may be granted citizenship through registration because marriage necessitates registration.
Those who have lived in Nigeria long enough to demonstrate that they are familiar with the culture, traditions, and obligations of citizenship may also apply for naturalization.
Despite the fact that Nigerian law does not allow citizenship by investment, owning real estate in the country can be quite lucrative. Specifically, if you work with BuildZone Housing Solutions, a reputable real estate firm, and invest in their properties. Read About us
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