This 3-part HLG article series will provide a comprehensive overview of dominant trends of immigration and detail the growing trend toward residency and citizenship-by-investment programs (“RCBI”).
How to Gain Citizenship by Investment in Different Countries
Investment immigration guidelines vary across different countries and programs. HLG has created a list of general steps that one must complete before filing for an application.
STAGE I: IDENTIFY YOUR IMMIGRATION GOALS, EXPECTATIONS, AND INVESTMENT FUNDS.
The immigration process varies depending on the investment program chosen. The type of program an applicant choose may vary in accordance with their immigration goals, expectations and availability of funds. Processing time is also a key factor to consider: the approval of some programs may take only four weeks, others years.
An applicant needs to first clearly define their immigration goals and the principal reasons for immigration.
Some possible reasons include starting a business, providing better education to your children, availing better healthcare services, or related reasons. Others wish to take advantage of global mobility that comes with having a strong second passport that provides visa-free travel to over 100+ countries or to avoid foreign policy blow back, or simply having a Plan B for the security of themselves and their family.
Upon identifying the reasons for applying to an immigration program, the next step involves setting expectations. Having clear expectations will allow the applicant to choose the right investment visa program.
Some questions the applicant may wish to reflect upon include:
- Do you want to become a permanent resident of the country?
- Are you seeking full residency rights or a living visa is sufficient?
- Is quick migration a priority for you and your family?
- Do you want to maintain your business in your home country? Do you want to invest into a business in your new country of destination?
The final step of the first stage is to have a legitimate source of funds for a residency or citizenship investment program. The applicant must understand the financial aspect of the entire process before proceeding with the procedure. Working with a professional immigration lawyer with a government-appointed immigration firm only improves your chances of successfully completing the process and approval, but it also protects you from any kind of immigration frauds.
STAGE II: COMPARE DIFFERENT INVESTMENT IMMIGRATION PROGRAMS
At this stage, the applicant is recommended to prepare a list of investment immigration programs available within their destination countries. In compiling the list, possible factors to consider include processing time, investment requirement, and any restrictions associated with the program (such as travel or relocation limitations).
The applicant may wish to also compare different programs based on factors relevant to the applicant and his/her dependants. These factors may include processing period, employment opportunities (for the spouse or family members), travel restrictions, permanent residency filing and approval process, investment requirements, and any renewal guidelines associated with a program.
A list of many investment immigration programs from around the world can be found here. It is advised that applicants engage an authorized immigration firm at this stage.
STAGE III: CONSULT WITH AN IMMIGRATION LAWYER TO PROCEED
The final step is to engage an immigration lawyer from a government-appointed immigration firm for the application.
Working with experienced immigration professionals has multiple benefits. As professionals, they can assist applicants through the financial pre-planning, program selection, and application process. Their experience allows them to offer solutions for investors on any potential issues the applicant might face.
Keep in mind that communication with lawyers and attorneys are confidential and can only be disclosed by virtue of a court order unlike an immigration consultant. Only lawyers and attorneys have the statutory right to hold your funds into escrow and maintain a professional insurance. Lawyers and attorneys have a statutory duty to always act in the interests of their clients and provide them with all the necessary information to make informed decisions.
The entire immigration journey, whether to be in a Residency by Investment Programsor Citizenship by Investment program, takes a significant amount of time, resources, and focus over an extended period.
Most people may find it challenging to navigate through the entire procedure. Working with a professional immigration lawyer with a government-appointed immigration firm only improves your chances of successfully completing the process and approval, but it also protects you from any kind of immigration frauds.