What is Citizenship by Investment?
Among the various methods through which one can obtain a visa for a foreign country, there is yet another relatively easier way to do the same – citizenship by investment. Citizen by Investment implies a process where a person shall obtain citizenship in a country by investing in it. This is usually in the form of property investment. There are different clauses and benefits regarding investment and citizenship laws in other countries.
With this program, you can get a passport quicker as compared to conventional methods of obtaining a passport. Citizenships can be secured for dependents, parents, family members, spouses, etc., through this method. Countries like Malta, Cyprus, Dominica, etc. give this opportunity.
Eligibility criteria may vary from state to state but the requirement for investments to be trustworthy and legitimate will mostly be a requirement. SmartMove Immigration understands the importance of easy documentation, verification, and processing of documents concerning obtaining citizenship through various means.
What are the changes due to COVID?
A few months back, COVID emerged as a global threat to economies worldwide. Production stopped and supply chains were drastically disrupted. Movement of people from country to country also witnessed halts and migration saw major changes in patterns and magnitude. All countries reacted in different ways and health professionals worldwide have claimed that COVID is there to stay.
This means the styles of production, movement, and human connections have also seen a lot of changes. Visas and citizen movements have seen major decisions limiting the freedom of people to move. Undoubtedly, citizenship laws have also seen changes, along with repealing visas and the introduction of other visible changes.
Countries that allow citizenship investor programs are small and have limited healthcare capacities to deal with the pandemic. The investor citizenship statistics are not very huge but they do pose threats to resource allocation and production decisions for people residing in a country. The rights of dual citizens are in dilemma and it is a major change to be addressed. Due to the pandemic, the data and statistics of investor citizens have been compromised. Many key selling points have suffered. SmartMove Immigration has closely evaluated the challenges and the opportunities that COVID is posing in front of various beneficiaries.
Opportunities Amid COVID
However, COVID has not disrupted the opportunities for investor citizens since professionals claim that this is a short term phenomenon. As the pandemic is being controlled, and economies are slowly unlocking, it is possible that all these disequilibria would approach closer to the equilibrium. Passports are slowly regaining their role as economies unwind from the long haul.
Because of the pandemic, investors have now changed the perceptions regarding their attitudes and choices concerning citizenship investor programs. Read Investors now look for countries that have dealt with the pandemic better to be viable opportunities as it is an indirect indicator of the resilience and strength of the particular economies.
Moreover, economies have cut down prices for investors to invest in these programs and have started many CBI programs in 2020 amid the COVID pandemic. These countries have tried to raise their revenues in the distressing economic conditions by collecting revenue from CBI programs. Some examples of successful and attractive CBI programs are by the countries of Vanuatu, St Kitts, and Nevis, Saint Lucia, and Dominica among many others. Demand for the same is mostly offered by wealthy and rich nations like China, Russia, India, Middle-East, etc.
In most cases, the CBI programs were positively affected even during the start of the pandemic since people sped up their spending processes to probably move to safer countries or permanent residencies of other resilient economies. Inquiries are skyrocketing regarding movement from countries. The power of having a passport has changed dynamics magnificently. People are evaluating decisions and finding suitable countries for residence in case another pandemic strikes. This decision is not an easy and straight one.
Many countries are themselves easing up their investment restrictions to sustain their economies. The competitiveness in this regard has increased. With most processes going online, people should realize the increasing utility of internet facilities even in citizen investment programs. Bigger investment decisions increase the favorability of these investment programs. Getting a passport online has become easier in many states which offer this program. Human resources have become a critical asset of the post COVID world.
Experts doubt that the citizenship investor programs would disappear, and some claim that it is only a small part of passport holders would find the situation intensely problematic or threatening. It is believed that a reformation of the procedures and techniques is needed for the current timed. It is also very much dependent on the politics of respective countries and what decisions they make regarding the people who would be evacuated, allowed to cross or return, and what the movement and migration policies for countries would be.