Economic Citizenship Countries - Programs to Apply
Legitimate economic citizenship can be obtained in the Caribbean islands of St Kitts and Dominica by applying to the economic citizenship programs which are available in these countries. To date there are no other countries offering second citizenship through similar programs. Economic citizenship programs are also called citizenship by investment program. The second citizenship programs are legal with legislation to support these and there are strict rules in place which governs applications into these systems.
Economic citizenship allows persons who do not qualify for citizenship of Dominica or St Kitts through marriage, birth, parentage or residency to apply for and become successful citizens. The legitimate economic citizenship program of St Kitts has been in existence from 1984 and the Dominica economic citizenship program from 1993. The economic citizenship program benefits the economies of the island with funds generated being used for infrastructural development and the expansion of existing and new industries which will provide employment and help boost the economies of the Domini ca and St Kitts.
Legitimate economic citizenship programs are useful for persons who for whatever reason feel threatened or limited by their current citizenship. One of the advantages of Dominica and St Kitts economic citizenship is that both countries recognize dual citizenship and a new citizen will have no legal obligations to drop previous citizenship. Economic citizenship means that the successful candidate will be able to apply for a passport of Dominica or St Kitts which can be used for visa free travel in many countries around the world. Another great benefit of the economic citizenship programs is that citizenship will not be revoked if the program has been stopped.
The legitimate economic citizenship program of Dominica has a few options by which individuals can obtain Dominica second passport; single option and family options. Changes in the packages and investment for Dominica Economic citizenship program have been slated for September 1st 2012 and listed below.
Package A: Single applicant is required to make an investment of US$100,000
Package B: Family Application One- this include the applicant and spouse at an investment of USD$175, 000
Package C: Family Application Two- this includes applicant, spouse and two children below the age of eighteen (18) with a contribution of US$200,000. Applicants with additional children will find that provisions are made for applying for economic citizenship at additional prices.
The fees mentioned above for entry into the Dominica economic citizenship program does not include processing frees, stamp fees, naturalization fees, application fees and agent fees. Due diligence fees must also be paid by the applicants and this fee is determined by the agency carrying out the research. The authority in Dominica cannot determine due diligence fee as each case is unique.
The St Kitts citizenship by investment program also has two options: the Real estate option and the Sugar Industry Diversification Foundation (SIDF) option. The real estate option investment is worth US$400,000. Investment must be made in a real estate project in St Kitts. The investment made does not include processing fees, application fees and due diligence fee. For this option applicants can also include spouse and children in the application process. The SIDF option has three (3) categories with economic contributions starting at US$250,000 to US$ 450,000 qualifying single applicants and applicants with more than 6 dependents. The SIDF option includes all additional fees except processing fees and due diligence fees.
Economic citizenship is affordable and the process can be lengthy but choosing the right registered agents to work with will ensure that professional services will be received. When considering economic citizenship or 2nd citizenship it is important to choose the right country for making an economic investment. The benefits of legal economic citizenship outweigh the contributions made by far.