Second Citizenship

second-citizenship-e-s-consultancy The following countries allow nationals to obtain second citizenship or residency permits. In order to obtain second citizenship, it is necessary either to invest a certain amount or contribute towards charity in those countries.

Malta (European Union)

The legal basis of the Maltese Citizenship by investment is in the Maltese Citizenship Act, Chapter 188 of the law of Malta which was amended in November 2013. Anyone who is over 18 years old, in good character, has got clean criminal record is eligible to apply to the Maltese citizenship by Investment. The main applicant’s parents and grandparents over 55 year old can also be included in the citizenship application.

Main requirements:

  • Ready to contribute €650K ( optional: €25K for spouse and children and €50K for each parent and grand parents) to the Maltese National Development & Social Fund which is non refundable;
  • Ready to purchase/invest in approved Maltese bonds and securities for €150, 000 and maintain this investment for at least 5 years;
  • Must purchase a residential property in Malta for a value of €350,000 or rent a residential property for €16,000 per annum for 5 years;
  • Good character and clean criminal record;
  • Evidence of genuine residence in Malta for at least 12 months.
According to the Maltese authorities, the processing time for obtaining the Maltese citizenship is between 4 to 12 months.

Maltese indefinite leave to remain/permanent residence (Residence and Visa Programme)

Third country nationals are able to apply for indefinite leave to remain/permanent residency (EEA indefinite leave to remain) in Malta subject to the below requirements:
  • Either purchases a property in Malta for 270,000+ Euros OR
  • Rents property for 10,000 Euros per annum. It is not permitted to sell this property within 5 years of the qualifying period;
  • Must be 18 years old or above and must have a clean criminal record;
  • Purchases Government bonds for 250,000 Euros and must hold for a minimum of 5 years from the date of approval;
  • Contributes 30,000 Euros to the Maltese Government for administrative work.
  • It is also required to show that the applicant has either an annual income of not less than hundred thousand euro (€100,000) arising outside Malta or has capital of not less than five hundred thousand euro (€500,000).

    Cyprus (European Union)

    It is possible to become a citizen of Cyprus which is another European Union country.

    Main requirements:

    • To own a private residence for at least a value of EUR500,000 (excluding VAT) indefinitely in Cyprus;
    and
  • Either have a deposit in the Cyprus bank for a minimum amount of EUR5 million fixed for a 3 year or;
  • Purchase a Government bonds with fixed 3 year maturity; or
  • Investment in Cyprus companies bonds with fixed 3 year maturity, or
  • Investment in real estate development projects; or
  • Purchase and participate in Cyprus companies that are based in Cyprus with the staff of minimum 5 Cypriot citizens; or
  • Major Collective Investments consisting of Euro 2.5 million investment by each applicant where total investment value should be Euro 12.5 million;
  • The main applicant must be aged 30 or over and must visit Cyprus at least once. The procedure of obtaining the Cyprus citizenship by investment is around 3 months.

    St. Kitts and Nevis

    Citizenship of this country can be obtained in approximately 4 to 6 months without visiting the country. There is no residence requirement for obtaining the St. Kitts & Nevis citizenship or St.Kitts Passport.

    There are two options for obtaining citizenship by investment.
    • Purchase of real estate with a value of USD400,000 or more in St. Kitts & Nevis
    • contributing USD 250,000 or more towards a charity (the sugar diversification foundation of St. Kitts & Nevis) which is non refundable.
    Please note that there are also additional fees for Government due diligence and residence.

    Dominica

    Citizenship for the investment programme of the Commonwealth of Dominican Republic is similar to the Saint Kitts & Nevis programme, but in order to obtain Dominican Citizenship it is necessary to contribute USD75,000 with an additional USD25,000 for any children between 18 to 25 years. This contribution is non refundable. There are also additional government fees for due diligence, registration etc. The processing time for obtaining Dominican citizenship is between 5−7 months. Dominican passport holders can travel to around 50 countries visa free, but this does not include EEA countries, and they do not pay taxes on worldwide income.

    Austria

    Austrian immigration law allows citizenship to be obtained via the ‘citizenship by investment’ rule. The main requirement is that the applicant contributes to the Austrian economy and invests at least EUR 2 million in any active business and creates new jobs or generates new export sales. The average timeframe for this is between 8 to 20 months.

    Please note that due to constant changes in immigration law, the above information is presented to provide a general introduction only.

    Bulgaria

    Bulgaria is a member of the European Union and citizens can live and work in some European Union countries without any restrictions. Citizenship under the investment programme requires the main applicant to invest approximately 511,292 Euros in guaranteed government bonds for 5 years, be able to prove the source of this money and not have any criminal background. There are two types of investment.
    • Full investment, where the main applicant purchases the government bonds for EUR 511,292 and keeps the bonds for 5 years.
    • Partial investment, where the main applicant needs to invest EUR 170,000 for refinancing EUR 511,292 in order to purchase the government bonds.
    After completion of the 5 year period, the main applicant and his/her dependants obtain permanent residence and can then apply for Bulgarian citizenship.

    Please note that due to constant changes in immigration law, the above information is presented to provide a general introduction only.

    Reasons to Obtain Second Citizenship/ Dual Citizenship

    There are many reasons why our clients sometimes prefer to obtain second citizenship or residence for themselves and for their families, which may include:
    • An unstable political situation in their country of origin;
    • Visa free travel to some countries including the European Economic Area (EEA) countries;
    • Residency in the EEA (for example, the Latvian residency permit allows holders to live and work in any EEA country);
    • Taxation reasons (some countries do not levy tax on individuals on the basis of their worldwide income or assets);
    • avoiding negative attitudes towards second citizenship/passport holders when they travel;
    • makes it easy to carry out investment and entrepreneurial activities in countries where there are fewer restrictions.


    Second Citizenship FAQs

    What is the Second Citizenship by Investment?
    The second citizenship by investment scheme is designed for wealthy individuals who are ready to obtain the second citizenship by way of either donating certain amount of money towards the host country’s economy or industry or invest in real estate in that country.

    The second citizenship by investment gives flexibility towards visa free travel to around 100 countries or more for leisure or business, being protected from any unstable political situation of their country of origin, residency and right to work, study and live in any European Economic Area and European Union if you obtain either Maltese, Cyprus or Austrian citizenship. Moreover, there are some tax flexibilities in the second citizenship (St.Kitts, Dominica etc).
    Which countries currently participate in this programme?
    We currently assist in obtaining the second citizenship by investment in the following countries

    In Europe – Malta, Cyprus, Austria

    In the Caribbean (Central America) St. Kitts & Nevis, Dominica, Antigua and Barbuda.
    Who can apply for a Second Citizenship by Investment?
    Anyone who does not have any criminal background or involved in any criminal activities and is wealthy to pay for obtaining the second citizenship by investment.
    How long does it take to obtain a second citizenship?
    Normally it takes between 4 to 18 months but it depends on country. It takes around 3 to 4 months in Dominica, 4 to 6 months in St. Kitts and Nevis, Antigua and Barbuda, Cyprus and Malta. In Austria it takes around 12 to 18 months to obtain the second citizenship.
    Is there any residency restriction?
    Yes: Malta – 1 year and visit at least once, Cyprus – visit at least once, Antigua & Barbuda 5 days over 5 years; No: St. Kitts & Nevis, Dominica.
    Can my dependants get a second citizenship by investment with me?
    Yes, they can. Some citizenship programmes also allow for parents to apply as your dependants.
    Is there any investment period restriction?
    Any direct investment must be invested in those countries for the following period of time after gaining citizenship.

    Yes – Malta, St. Kitts & Nevis, Antigua and Barbuda – 5 years Cyprus – 3 years No – Dominica
    How many countries I can travel visa free?
    Malta: around 175 countries
    Cyprus: around 155 countries
    Austria: around 185 countries
    St. Kitts & Nevis: around 120 countries including EEA countries;
    Antigua & Barbuda: around 100 countries including EEA countries;
    Dominica: around 70 countries
    What about due diligence fees, government fees and other expenses.
    In addition to the above requirements, there will be also additional expenses such as government due diligence fees, lawyer and agents fees, additional fee for each dependants etc.
    What about employment in those countries?
    Yes, once you become a citizen of one of the countries you will be able to work in that country.
    I also want to know about taxation. Do I need to pay income tax, capital gains tax, etc?
    In all 6 countries that we assist, applicants worldwide income are not taxable unless they decide to reside in the country. However, if they decide to reside in the country then they could be liable to pay income tax, capital gains tax etc.
    Why to choose E&S Consultancy (UK) Limited?
    We work closely with local lawyers in those countries (in some countries by law, it is mandatory to use an accredited local agent) and our success rate is 100%. Majority of our clients are referrals from our previous clients whom we assisted them in obtaining their second citizenship.


    …and someone from our immigration team will get back to you within 24 hours.