Obtaining citizenship for investment – urgent issue for many.
It would seem that everyone who has a supply of cash will now want to invest them in a profitable way, since it can be much cheaper to buy something useful, including second citizenship, during a crisis.
But the unpredictability of COVID-19 and the lack of understanding of when and how the pandemic will end will cause most of these people not to be scattered about their supplies.
But there is good news: such a situation will create pent-up demand, and buyers are activated immediately, as the situation with the virus becomes clear.
Do you have the capital that you want to invest in the economies of Japan, Italy or Canada and become their subjects for it? At the moment, unfortunately, you do not have such a legal opportunity.
So far, such central countries of world geopolitics and economics do not consider it possible to use this method of attracting investments.
The programs for issuing their national passports to foreign residents for capital investments are currently accepted only by small countries like Dominica or Malta.
Of the relatively large and developed states, only Turkey and Egypt are ready to reward a foreigner with citizenship for money.
What unites the “golden visa” program of Ireland, Greece, Portugal and Spain with the “citizenship for investments” of Cyprus and Turkey?
They were all the consequences of domestic financial crises and growing external debt. Three of the above countries formally entered these programs into the overall plan for economic development.
Migration by investment method, as an economic cycle, operates as follows:
buyer’s market or recession – the country’s government has accumulated an excessive amount of debt and attracts foreign capital by selling its citizenship for it;
seller’s market or growth period – a country enters a new economic level with stable indicators, which creates an increase in demand for its residency.
Often, governments in different countries have to turn to domestic and foreign private companies for money. Sometimes funds are borrowed, sometimes for some projects.
A serious global crisis will lead to the fact that many countries will be on the verge of default, followed by a decrease in credit ratings and other negative consequences.
In order to prevent conditions when it is necessary to take extreme measures, the authorities will look for new sources of budget revenues. One option would be investment citizenship.
First of all, these are the countries that were brought by their authorities to a critical ratio of public debt to GDP before the pandemic (Japan, Spain, Canada, Greece, Italy).
The situation may be such that for them the provision of residence for investment may be the most justified way out of the situation.
The first thing to know is that no one can apply for citizenship for money on their own without intermediaries. The state government will accept an application only from the immigration agency to which it has issued a license.
Employees of such agencies have many years of experience and vast knowledge in obtaining citizenship for investment.
They provide assistance in choosing and full documentary support – from the preparation of the application to the receipt of a new passport.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.