Since the beginning of this year, there has been a boom in the circle of wealthy people around the world to handle naturalization programs. Whether it's a Russian business magnate, an American financial upstart, or a Saudi oil tycoon......It seems that they all join the team of investment naturalization.
For them, the words of Rogers, the American financial tycoon, can be said to be a wise saying: "In the next 10, 15, 20 years, it is very dangerous to only have one passport, the future situation is very 'turbulent', there must be a plan B, and having a second passport will give you a chance to survive!" ”
You have an insurance policy that you don't want to use, but you have to have it, just in case. ”
Yes, in an era of war crises and an increasingly severe economic downturn, wealth is no longer a trustworthy guarantee even for the super-rich like Rogers! Obtaining another passport with a high value of gold largely means greater autonomy and more options in the face of a possible crisis. The world pattern is changing in a turbulent way, and it is difficult for ordinary people to be alone, whether it is for the family to avoid danger or for the future development of future generations, it is time to consider making an identity configuration.
Will it be more difficult to citizenship by investment?
Caribbean island nations have been the most chosen standby status for high-net-worth individuals. However, since the beginning of this year, under the pressure of the European Union and the United Kingdom and the United States, starting with the star passport St. Kitts, the Caribbean island countries have started a storm of coercion.
July 17 Dominica.
Effective July 17, 2023, the Dominica Passport Program will be further enhanced with an additional interview process for all applicants over the age of 16.
July 27 Saint Kitts and Nevis.
On July 27, 2023, the St. Kitts Immigration Department issued a notice of major policy reforms:
1.Adjust the scope of dependent applicants, cancel the qualifications of siblings to accompany them, and adjust the minimum age of parents to 65 years old;
2.Interview sessions will be added, and all people over the age of 16 will be required to participate in the interview;
3.Due diligence fee adjustments, which are higher than before;
4.The processing time is extended, and it is expected to be approved within 120 days, and the accelerated channel will be cancelled;
5.Strengthen the regulation of advertisements related to the St. Kitts Citizenship by Investment Program;
6.The investment amount was doubled, the original SGF** was replaced by SISC**, the "current preferential policy" was terminated immediately, and the minimum donation amount was increased from 12$50,000 to $250,000, and investment in home purchases from $200,000 to $400,000.
August 1 Grenada
On August 1, 2023, the Grenada Citizenship by Investment Bureau (CBI) issued Announcement No. 5, which will require all applicants aged 17 and above to undergo a mandatory interview from September 1, 2023.
September 4 Saint Lucia.
According to the latest news from Saint Lucia, immigration applications submitted after September 4, 2023 will require an interview during the background interview session, and at the same time, the due diligence fee will be increased by $500 as the interview fee.
The second identity dark horse - Panamanian passport.
The citizenship by investment programs of the Caribbean island state have raised the application threshold, some have increased the amount of investment, and some have strengthened the background investigation. High-net-worth individuals who want to pursue a short-term (3-4 months to obtain status, personally receive it in person) and quickly obtain status will naturally look for new options.
In this context, the Panamanian passport has become the first choice for the wealthy this year.
Panama's immigration law was introduced in 2020, when applicants could only get a residence card. But in the second half of this year, the Panamanian immigration program was upgraded to a passport status program, which means that the applicant can directly naturalize Panama with his or her family. It is equivalent to eliminating the immigration supervision process from permanent residence to passport. The purpose of this project is to attract high-net-worth individuals with certain investment power in a short period of time, which is very different from the Caribbean island countries that sell passports for a living, and the gold content of their passports is not comparable with some island countries. The project is authorized by the Foreign Investment Bureau, and the applicant obtains Panamanian citizenship by completing the investment. Support a family of three generations to apply. The application threshold is low, and there are no requirements for net assets, language, education, management experience, etc.
Panamanian passport advantages:
1.The process is standardized, and the Panamanian passport project has standardized procedures, and the applicant will pay the investment money after getting the approval letter to ensure the safety of funds.
2.Convenient travel, visa-free for more than 150 countries around the worldPanama passport visa-free for more than 150 countries around the world, including the Schengen area, Singapore, South Korea, Brazil, Argentina, visa-free for 180 days in the United Kingdom, 90 days in the European Union, and enjoy the eligibility to apply for an E-2 visa in the United States, which is convenient for business travelers.
3.Strict customer privacyPanama has the world's second-largest banking system, after Switzerland, and adheres to strict privacy laws to protect the privacy of investors.
4.The well-known tax haven of Panama is a well-known tax haven in the world, and enterprises set up in Panama can enjoy preferential policies for duty-free import of goods without foreign exchange controls. Panama has also signed a double taxation treaty with China to avoid double income tax payments between Panama and China.
5.The Panama project has a short processing period and a low threshold, and the conditions are relaxed, and there is no need for cumbersome materials, language and academic requirements, and no need to provide proof of assets and business background. The approval speed is very fast, and you can get a passport in about 3 months, which is the shortest cycle of all passport projects.
6.Unlike many Caribbean island countries, Panama is a great place to live, with a beautiful environment, a developed economy, excellent infrastructure, and excellent benefits, as well as a level of medical care comparable to that of North America. Many Americans look to Panama as the best place to retire.
With its comfortable climate and convenience, Panama has the world's second-largest banking system after Switzerland and the world's second-largest free** zone, making it a safe haven for the money of many wealthy people. Panama has a very complete education system and the world's leading medical standards, ranking 10th in the world's medical industry rankings, and the medical level is even comparable to the United States, which is one of the main reasons why many people choose Panama. The Panamanian passport has a low application threshold, fast approval speed, and is very cost-effective, making it the preferred second status for many high-net-worth individuals.