How Countries And High Net Income People Can Benefit From Economic Citizenship
Join 1000's of Authors at StreetArticles Today!

Many people are looking to relocate from their birth country and acquire a second citizenship in any sovereign state. This simply requires a person to attain a citizenship of some other country. There are three ways to acquire such citizenship either anyone of your parents or grandparents are citizen of another country or you marry a national of that country. The second way is to spend several years of residence in that country and that requires a lot of time.

One of the quickest ways to get citizenship is to invest considerable amount of investment with some foreign country and get their citizenship through this relation. This is called Business citizenship which is more of a logical and a legal way to get citizenship than a cultural one. Person getting an Economic citizenship enables him to exercise political and legal rights in that state.

In short citizenship by investment is more of a dual or a multiple citizenship where an individual has rights of both states and have to obey laws of both countries. It offers many benefits as well which includes travelling without requiring a visa, flexibility in tax and privacy of a property in that state. However, on the other hand, economic citizenship in some states requires a person to contribute towards the economy of that state.

Such kinds of citizenships are known to have some kind of drawbacks. In Past there occurred such cases of terrorism and governments are being blamed for letting people enter through such programs without any background check of individuals. In this era, very few states offer citizenship by investment and two of them areSt. Kitts & Nevis and the Commonwealth of Dominica. For citizenship of St.Kitts either you can make an investment of $350,000 or you can donate a sum of $200,000 to their sugar industry.

In order to have an EU passport, Austria is an option in Europe that gives its citizenship if a person invest a few million dollars for their development. Austria has not made it an official program. Some of the Euorpean nations provide economic citizenship if a person invest in their real estate.

We may say that such programs are only available to those who can afford and can make a substantial amount of investment in that country. On a flip side, such citizenships provide a great deal of value to those individuals who obtain this through investment. This increases a chance for a person to visit that country anytime and without a visa. It opens a lot of investment and business opportunities for such individuals. It provides them to buy and maintain a private residence in that state.

For the states who offer citizenship can have a benefit of developing and networking with people from other states. It can help them to run programs for national development. Capital gained from such program can be utilized for private as well as public sector projects. To be on a safe side government of such states should check the background of a person applying for economic citizenship and grant citizenship after verification.


Street Talk

No comments present
You May Also Like
US Citizenship And Immigration Services Dallas Tx: Temporary Visas
For people seeking to stay in the U.S. temporarily, visitor visas are available through US citizenship and immigration services Dallas TX area. The B-1 visa is issued to people entering the US for business, and the B-2 visa is issued to tourists and others for non-business reasons. These categories may…
By: Drew R. Smith in  Legal  >  Immigration   Apr 13, 2016  
0
  Likes: 0

What Can Canada Do For Immigrant Investors?
Up until a few years ago, the federal government had a viable immigrant investor program. While the Canadian government has what is nominally an immigrant investor program, at this stage, it is really only going through the motions. The current (federal) program is a laughingstock. It appears to have been…
By: Angela Hutchinson in  Legal  >  Immigration   Mar 05, 2016  
0
  Likes: 0

Thai Law Firms Advise Of Thailand’s Strict New Visa Overstay Rules In Effect 20 March 2016
Thailand’s strict new visa overstay rules are set to come into effect on 20 March 2016, as Thai law and immigration authorities move to tighten up security against ill-intentioned elements and crack down on the practice of overstaying. The new rules will mean a foreigner who overstays his or her…
By: Inetasia in  Legal  >  Immigration   Feb 29, 2016  
0
  Likes: 0

Immigration Attorney Dallas Area: Answers From A New Uscis Tool
An immigration attorney Dallas area understands the value of quick, accurate answers to immigration questions; that’s why many attorneys are now recommending “Emma,” the new interactive tool on the U.S. Citizenship and Immigration Services website, to people needing a free and easily-accessible source of information. Virtual assistants replace genuine human…
By: Drew R. Smith in  Legal  >  Immigration   Jan 21, 2016  
0
  Likes: 0

Immigration Lawyer In Dallas, Tx: The Basics Of Citizenship For Your Adopted Child
Immigration Lawyer in Dallas TX American parents have always and will always open their hearts and homes to orphaned children from foreign countries; unfortunately, love and good intentions can’t offset the fact that there are a multitude of complications that can arise if you decide to adopt a child from…
By: Drew R. Smith in  Legal  >  Immigration   Sep 07, 2015  
0
  Likes: 0

3 Possible Ways for Immigration to Canada
Canada is an attractive choice for many. It’s a large, beautiful country. It’s also a safe place to live, governed by the rule of law. Furthermore, even during a period of economic recession, the Canadian standard of living tends to remain strong. Arguably, we have one of the best healthcare…
By: Angela Hutchinson in  Legal  >  Immigration   Aug 11, 2015  
0
  Likes: 0

An Overview Of Economic Citizenship
What is citizenship? A general definition of citizenship shows it as a collective series of rights and responsibilities that relate to the individual as a member of a political community; including all the rights and obligations that the local citizens are subjected to. Citizenship actually describes the relationship between the…
By:  in  Legal  >  Immigration   Jul 03, 2014  
0
  Likes: 0

Frustrating Situation Of Unattended Immigration Loopholes Into Eu:
Recently, the issue of unattended immigration (from within EU and into EU) and associated pace of action into EU has created a blasphemy among the public. The local national and citizens of EU states are disturbed giving rise to a chaotic situation which has finally persuaded the higher authorities to…
By:  in  Legal  >  Immigration   May 13, 2014  
0
  Likes: 0

Immigration Attorney Dallas, Tx: Keeping Your Family Together
Immigration Attorney Dallas TXImmigration can be a tricky and difficult process, and that’s why you need an expert immigration attorney in Dallas, TX. The Christensen Law Firm understands the process, and we don’t want you to navigate it alone. If you are trying to find the most effective, legal way…
By: Drew R. Smith in  Legal  >  Immigration   Oct 01, 2015  
0
  Likes: 0

Get Visa Help With H - 1b Woodland Hills
Do you need a Visa H-1B Woodland Hills? The Law Offices of Edward M. Weisz are immigration law experts, and can help you navigate past common pitfalls on the road to obtaining your H-1B visa. The first, and most important thing to determine is: do you need an H-1B visa?…
By: Jim Green2 in  Legal  >  Immigration   Oct 14, 2015  
0
  Likes: 0

Why An Immigration Lawyer In Dallas TX Area Is Necessary
Immigration Lawyer in Dallas TXThough their help is not legally required, it can be in your best interest to contact an immigration lawyer in Dallas TX area to help you apply for an immigrant visa or a green card. When your situation is straightforward you might be able to proceed…
By: Drew R. Smith in  Legal  >  Immigration   Aug 19, 2015  
0
  Likes: 0

Immigration Lawyer Dallas Tx: The Abcs Of Studying In The United States
If you or someone you know is considering studying in the United States, it’s important to consult with an immigration lawyer in Dallas TX. Studying at a school, college, university or other academic (or non-academic) institution requires more than just a letter of acceptance; it requires a student visa. Obtaining…
By: Drew R. Smith in  Legal  >  Immigration   Mar 09, 2015  
0
  Likes: 0

Dangerous Rise In Emigrants Negatively Affecting Lithuania
The article tells about why the rate of emigrants leaving the state is increasing and how the institutions and other concerned departments are overlooking this disastrous condition which is ultimately spoiling the economy of the state. Lithuanian citizenship by investment has become a major practice these days to get access…
By:  in  Legal  >  Immigration   Jun 02, 2014  
0
  Likes: 0

How An Immigration Attorney In the Dallas TX Area Can Simplify the Process
Finding the right immigration attorney in the Dallas TX area doesn’t have to be a difficult experience. Of course you want to make sure that you find someone who can provide you with quality services so that you will be able to stay in the United States, but seeking out…
By: Drew R. Smith in  Legal  >  Immigration   Jun 19, 2015  
0
  Likes: 0

The Originality Of the Lithuanian State is on Its Decline
There is a rapid increase in the number of people migrating out of the country which is causing drastic changes in the ethnic structure of inhabitants, inappropriate possibilities of lack of patriotism and socially weakened capital. Inhabitants of Lithuania state are making their way out to other countries and causing…
By:  in  Legal  >  Immigration   Jun 02, 2014  
0
  Likes: 0

Article Views: 1210    Report this Article