Who can't apply for citizenship through investment?
Published at: 22/07/2020 01:05 pm
Are you a citizen of Yemen, Syria, Iraq, Iran, North Korea, China, Somalia, Nigeria, or Afghanistan? Do you hold a passport, which does not allow you the travel and even creates unpleasant immigration issues? Then you should read this post if you have sufficient funds to invest.
Why can't you apply for a passport through investment?
The High Net Worth Individuals of some countries found themselves in challenging situations regarding their second citizenship processes. Because of the political or economic status of their homeland arise uncertainties. Meanwhile, the jurisdictions with residency or citizenship by investment schemes can't take any risks, and sovereign countries have the right to decide who they let become a citizen.
On the other hand, the international community is also closely monitoring the investors' immigration program. If an applicant obtains the passport, which allows the freedom of travel, then the visa-free partner countries must be 100% sure that the visitors do not pose a threat to the security.
What are the main obstacles during acquiring citizenship through investment?
Political issues: Not all countries are friends. Missing diplomatic connections, ongoing wars or pressure from the international community can prevent you from applying.
Legal uncertainties: Sometimes, the home country's legal system is not developed enough or manipulated, so the source or form of the necessary documents are not transparent, or corrupt clerks may issue counterfeit documents.
Economic transparency: Sometimes, local banks can't produce relevant and internationally accepted statements of the applicant's funds and most importantly, the source of their funds.
Virus issues: It's a new challenge. Travel restrictions can create a situation when you can't reach the jurisdiction, where you want to become a resident or citizen.
How can you move and become a resident or citizen through investment if you hold a weak passport?
There are 15 citizenship by investment and more than 80 functioning residency by investment programs and schemes. High Net Worth Individuals have the choice to obtain new citizenship or resident status. These are complex solutions, and you must comply with several international legislations. We offer a personal consultation to discuss the most appropriate legal options. Ask for consultation here by clicking here!