Citizenship by investment programs provide families with the privilege of acquiring an alternative citizenship, which in turn gives them the right to travel freely to various destinations and to settle in another country. Over 100 countries in the world have some form of investment migration legislation in place. Of these, about 30 residence and/or citizenship by investment programs are running successfully, many of which were designed and set up by Foxton.
More than ever before, wealthy individuals are pursuing citizenship options as the most effective way to access previously unimagined opportunities.
Individuals of talent and means need not limit their lives and business interests to one country. Residence by investment programs, also known as golden visa programs, provide high-net-worth individuals with the option to relocate and the right to live, work, study, and receive healthcare in their new countries of residence. Being able to change residence to a suitable country or have multiple residences is an increasingly important aspect of international planning for private clients.
Foxton offers expert advice on residence by investment programs in some of the world’s top places in terms of business environment, quality of life, and the possibility of acquiring citizenship.
Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. Passive investments in government bonds or real estate, for example, do not qualify.
In addition to standard documentary requirements (such as passports, birth, and marriage certificates), a completely clean personal record (certificate of no criminal record), a comprehensive CV, and business background information, as well as impeccable references must be provided by all applicants.
The Austrian Citizenship Act generally requires the applicant to abandon their current citizenship as a precondition for being granted Austrian citizenship. However, in case of a grant of citizenship under the provisions of Article 10 (6) of the Citizenship Act, the former citizenship can be legally maintained, that is, the applicant may not be required to give up their present citizenship.
The Grenada Citizenship by Investment Program requires applicants to either make a significant economic contribution to the country or to acquire a government-approved qualifying asset. In exchange, and subject to a stringent vetting and due diligence process, including thorough background checks, the applicants and their families will be granted citizenship. To qualify for citizenship, the primary applicant must be over 18 years of age, meet the application requirements, and satisfy one of the two primary qualifying options:
National Transformation Fund donation option: A minimum non-refundable contribution to the NTF of Leading Residence by Investment program
Nine–Twelve months
The Singaporean passport is the strongest travel document in the world, according to the Henley Passport Index. It provides the holder with visa-free or visa-on-arrival access to 192 destinations, including Europe’s Schengen Area, Canada, China, and the USA.
After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship.
Singapore is a single citizenship country, and this condition is strictly enforced. For this reason, Singapore is not the ideal options for individuals who are interested in holding more than one citizenship and passport.
There are different types of residence categories in Switzerland, and a distinction is made between EU or European Free Trade Association (EFTA) citizens and non-EU or non-EFTA nationals. EU or EFTA nationals can obtain a residence permit without difficulty if they have an employment agreement with a Swiss employer, if they become self-employed in Switzerland, or, if no gainful occupation in Switzerland is intended, they can prove that they are financially independent with sufficient income or wealth to cover their living costs.
The process for obtaining residence for non-EU or non-EFTA nationals is more challenging but still possible. On the basis of current Swiss immigration and tax laws and regulations, Henley & Partners designed the Swiss Residence Program.