The covid-19 pandemic has led to increased demand for citizenship by investment programs. Many countries that offer such programs generate large incomes and investments from foreign nationals, either through one-time donations to national government funds or through the purchase of real estate.
If we combine this trend with the downturn in global business, we can only expect CBI programs to pick up steam in the next few years. But why are these programs so popular? Mainly, governments that offered CBI programs helped countries out of recession and secured foreign investment.
The benefits of citizenship programs attract wealthy foreign entrepreneurs and businessmen and increase the network of business opportunities. Thus, the economy and the welfare of the citizens have greatly improved as the CBI funds keep the economies afloat.
Below, we’ll discuss the benefits of such programs, how they work post-pandemic, and what to expect in the future.
A wide range of benefits
During the pandemic, many countries such as Portugal, Malta and Cyprus recognized the benefits of CBI programs for their economies. The same applies to investors who have experienced many benefits such as:
- Increased international mobility;
- Limited visa restrictions;
- Better health and education systems;
- Expansion into new business markets;
- Corporate and personal tax reliefs;
- Diversification of assets; and
- A safer option for working and living abroad.
The NTL Trust a team of professionals work closely together to provide professional services, support and advice to applicants for citizenship by investment programmes. They work closely with applicants and ensure that they reach the final stage of the application process and meet the citizenship requirements. Feel free to check them out!
The importance of a secure future
The Covid-19 pandemic has made people realize the importance of a secure future. And according to many CBI consultancies, investors tend to apply in Caribbean countries and get a second passport in one of these places. Dual citizenship allows citizens to use many resources and facilities from a foreign country.
In the last few years, many Indians have done so received their citizenship in hopes and search for a better future for themselves and their families. In fact, more than 100,000 Indians have renounced their Indian passport.
In addition, it increases security for thousands of families seeking asylum in another country. It also helps reduce financial risks and avoid political instability and civil unrest in the home country.
How do CBI programs work in different countries?
Citizenship by Investment programs legally provide services to investors who wish to acquire dual citizenship in exchange for financial investment in the country. This has become the new insurance policy in the 21st century. But how do these programs work?
A total of 14 countries currently offer citizenship by investment route and most of them are in the Caribbean region. However, we will analyze a few of them to see how the application process works.
St. Kitts and Nevis is the oldest and most prestigious program of all, established in 1984. It is classified as a “platinum” standard in providing citizenship services and is one of the best.
The Dominican CBI program has been in the market since 1993 and is another popular program for investors, especially in the post-pandemic period. The high quality of life in the country, numerous investment opportunities and a safe environment are what make the Caribbean destination popular and attractive to investors.
Why do CBIs attract high networkers?
Citizenship by investment is popular among wealthy individuals seeking financial freedom and better economic opportunities. The Covid-19 pandemic has changed the way people perceive normal standards of living and deal with more serious issues in real life.
Covid-19 has affected a wide range of sectors and reduced global mobility. This threatened many small and medium-sized enterprises, leading to bankruptcy. And the freedom of global mobility is gradually being restored by citizenship-by-investment programs.
Will CBI programs survive the pandemic?
The past few years have imposed major disruptions on our daily lives. Citizenship-by-investment programs, however, have remained as valuable as before, or even more so, in the new post-pandemic “normal”.
Most of the countries that have CBI programs have the resources to allocate and provide adequate health services to all citizens in need, whether they are one-time investors or lifelong citizens. A 42% increase in CBI programs has been seen in recent years.
We can wait and see how it goes
We cannot say for sure that CBI programs will become even more popular or face a decline in the coming years. We can simply keep up with the trends and get the latest results and news. For more information on CBI programs, visit our blog.