Updates:Concord Tower, Office 2212، Al Sufouh, Dubai Media City, Dubai, UAE Read More
Difference between Visa and Citizenship programs
Golden Visa and Citizenship by Investment programs allow you to maintain a high quality of life and comprehensive plans for any unexpected events.
Many interested people have heard about the Golden Visa and Citizenship by Investment programs, and most of them may not know the true meaning of these terms and all the details and information related to them.
In this blog we will list the differences between the Golden Visa and Citizenship by Investment programs, and more specifically the Caribbean Citizenship and European Golden Visa programs, as they are the most popular programs in these areas.
About Golden Visa and Citizenship Programs
There are a variety of countries in the world located in different places that offer these two programmes, the most important of which are the Caribbean, Turkey and Europe.
If you are thinking about improving the quality of your life and the lives of your family members, you should consider the Golden Visa and Second Citizenship programs. To find out which program suits you best, this article will guide you.
Choosing a program that is friendly to foreigners and does not impose double taxes in the case of dual citizenship is very important, which is why investors should discuss such matters with legal experts in the field of citizenship so that they do not make a mistake in their choice.
The Caribbean countries represented by Antigua and Barbuda, Dominica, Saint Lucia, Saint Kitts and Grenada offer the most popular citizenship program in the world. They are beautiful natural islands located in North America and enjoy a desirable tropical climate.
Caribbean countries have established these programs since the 1980s. After that, it was included in the constitutions of their countries and could not be abolished in any way. The advantages that place Caribbean countries at the top of citizenship programs are the lack of residency requirements, reasonable investment demand, and in return offers frequent entry into countries, access to tax breaks, and business & family opportunities.
Golden visa programs are the word synonymous with residency programs in Europe. A number of European countries grant temporary residency to individuals, which later turns into permanent residency and then into citizenship.
The Golden Visa Program helps people live, study and work across Europe after investing in one of its countries, the most famous of which are Spain, Portugal, Malta and Greece.
The difference between a golden visa and citizenship
1. Golden visa and citizenship, which cheaper?
To obtain a European visa, you must invest between 250 and 500 thousand euros in European real estate, and after 5 years you are entitled to recover the money you used to purchase the property. Portugal has other investment options, such as investing in non-real estate funds.
Caribbean Citizenship by Investment: The citizenship amount is approximately $200,000 as a non-refundable contribution and $200,000 as a real estate investment, which you can resell after 7 years, with many other options tailored for family members.
2. What to apply for a golden visa and citizenship?
To obtain the Caribbean Citizenship Program, there is no requirement for residence or personal attendance in order to obtain it, nor language tests and academic and practical certificates required. All you have to do is invest in one of the above ways and then prove that the money used in this investment comes from unsuspected sources, and then you have to prove that you are not a person with a bad reputation enough to obtain citizenship.
Unlike citizenship, you must stay several days a year to maintain your golden visa, and the number of days required increases if you are considering obtaining citizenship in the future. Yes, the number of days required is not many, but it requires commitment and travel annually. In addition, applicants must prove their financial capabilities, good conduct, good health, and then invest in one of the available ways.
3. What does the Golden Visa and Citizenship offer you?
The European Citizenship Program enables mobility, business management and benefit from Europe’s outstanding health and education systems. A European visa also leads to permanent residence in Europe and hence a European passport.
Caribbean citizenship offers the same benefits as a Golden Visa, but on a larger scale and in a greater number of countries, as having a Caribbean passport means entry to more than 150 countries without a visa, in addition to establishing a business and maintaining property in the best tax environment for businessmen in the world.
4. Similarities between Golden Visa and Citizenship
✦ With both programs, you can add your family with financial additions, but the only difference is that the Golden Visa program gives you the right to add a spouse, children, and parents, but some Caribbean citizenship programs allow siblings and grandparents to also be added like the rest of the family members mentioned in the Golden Visa program.
✦ The two countries have unique tax systems in the world, as there are no taxes on wealth, transfers, capital, property, gifts, inheritance, and all trade outside their territories.
✦ The Caribbean countries are beautiful islands with mountainous features, coasts, and clear waters located near North America, and they enjoy a mixed tropical atmosphere. Europe is famous for its diverse nature and culture full of beauty and history.
✦ Both programs are 100% reliable. They were designed several years ago and are popular not only by the author but all over the world. It cannot be abolished because it is mentioned in the constitutions. The Golden Visa and Citizenship programs accept residency and dual citizenship, and after choosing one of them you can wait a maximum of 6 months to obtain it.
Advantages of the Golden Visa and Citizenship
~ GCC
1. Citizenship by investment
✦ Residency is not required before or after obtaining citizenship.
✦ There is no need to prove any work ties or academic degrees. It is not required to know the language of the country and you do not need to attend a personal interview.
✦ Benefit from free and international health and education systems.
✦ Good programs for retirees and family owners because they enable you to add your family members with simple financial additions compared to the applicant and then enjoy the charming nature of the Caribbean islands and the advanced health and educational systems.
✦ Citizenship programs are the best option for businessmen and company founders because you can establish and expand a company or open foreign bank accounts.
✦ Earning the best tax system around the world which means the possibility of storing and managing money in a safe area and a secure banking system.
✦ Caribbean citizenship allows you to retain your first citizenship, and your citizenship will not be revoked, as guaranteed by the Constitution.
✦ The ability to enter more than 150 countries without a visa, including China, Canada, Britain, and all Schengen countries.
✦ The Caribbean Citizenship Program is the fastest citizenship program with lower financial requirements compared to similar programs.
2. Golden visa
✦ The Possibility of touring and staying in all 27 Schengen countries.
✦ Benefit from the famous European health system.
✦ Studying at prestigious European and British universities.
✦ Benefit from a distinctive European tax system.
✦ Establishing companies and expanding companies throughout Europe.
✦ The Golden Visa leads to permanent residency and then a European passport, which enables you to enter more than 185 countries around the world without a visa.
✦ The possibility of adding family members with the applicant.
3. Eligibility to invest and own real estate in Europe.
✦ Eligibility for refund of funds used to purchase real estate in order to maintain the Golden Visa
Which countries offer golden visa and citizenship?
The Caribbean countries topped the list of countries offering citizenship by investment programs due to their few requirements and the benefits they offer.
Countries represented: Saint Lucia, Saint Kitts and Nevis, Grenada, Antigua and Barbuda, and Dominica, which are British Commonwealth countries and part of the Caribbean Union located within the Caribbean Sea, which began offering the oldest citizenship program in the world, specifically in 1984.
The European countries that offer Golden Visa programs are Portugal, Spain, Greece and Malta. Türkiye also has a good citizenship program, and Malta has a direct European citizenship program.
There are some remaining countries around the world that offer one of these two programs, but they either require high requirements or offer modest programs, and for this reason we did not mention the rest of the programs.
Golden Visa and Citizenship: Which Should I Choose?
In terms of the financial and investment amounts required, it is clear that Caribbean citizenship is the most appropriate, as you will obtain citizenship for less than half the amount required of you for European residency.
When talking about the requirements you need to be eligible for these programs, we explained how Caribbean countries do not require any residency or language requirements to obtain them, and you may be able to obtain Caribbean citizenship without having to visit these countries and without leaving your place of residence. But the European Golden Visa program requires applicants to reside for a certain period in order to maintain the Golden Visa program and in order to obtain citizenship later.
But in the end, all that matters is what you need most. Although citizenship is clearly superior to Golden Visa programs, but for example, if you are an individual from the Middle East, a Golden Visa will suit you better as most Gulf and Middle Eastern countries do not accept dual citizenship. There are also people who prefer to reside and wait several years in order to obtain a European passport.
The Golden Visa is also very useful for all people who are trying to get a visa from a particular country and then live and do business there. Given the power and tax advantages of a Caribbean Union passport, and given the geographical location of these countries, it is designed for individuals looking for a strong passport more than the country itself. Because with a Caribbean passport, you will be able to enter all Schengen countries, China, Canada, and Britain without a visa.
Last word
So that you do not fall into any dilemma after choosing one of the two programs in general and choosing one of the countries that offers this program in particular, please consult us to evaluate your aspirations and situation and find the program that is most suitable for you.
About Author
Taher Shehab
As co-founder and CEO, Taher Shehab has guided Global Citizen Consultants to be a leader in providing citizenship by investment in over 20 territories, including the Caribbean.
Post a Comment