Here are 23 Countries Selling Citizenship to Indians who have MONEY.
31 million Indians live outside India. We fondly call them NRIs(Non-Resident Indians) or PIOs (Person of Indian Origin) and collectively they form a group, what we call, Indian Diaspora. According to the United Nations Department of Economic and Social Affairs, India has the largest diaspora population in the world.
In earlier times, people moved from one place to another in search of food or water. Today, people move from one place to other in search of better economic opportunities or high quality of life is not a new trend. All this means the emergence of a new global industry— Countries Selling Citizenship Industry. You can legitimately purchase citizenship or a residency permit in return for investing a substantial amount of money.
The International Monetary Fund has highlighted the rapid growth of this trend, suggesting that in the current geopolitical climate people are looking for “political and economic safe havens”. There are also estate and tax planning considerations, the IMF adds.
The following table places the state of citizenship selling in a global perspective. It demonstrates that while it’s a predominantly European and Caribbean phenomenon, programmes do exist in Canada, the United States, Australia, Singapore and New Zealand
List of Countries Selling Citizenship
Country
Inception Year
Minimum Investment(in INR)¹
Residency Requirements²
Citizenship Qualification Period³
Antigua & Barbuda
2013
US$ 250,000
5 days within a 5-year period
Immediate
Cyprus
2011
€2.5 million
No(under revision)
Immediate
Dominica
1993
US$ 100,000
No
Immediate
Grenada
2014
US$ 250,000
No
Immediate
Malta
2014
€1.15 Million
6 Months
1 Year
St. Kitts & Nevis
1984
US$250,000
No
Immediate
Australia
2012
AUD 5 Million
40 days/year
5 Years
Bulgaria
2009
€500,000
No
5 Years
Canada4
Mid-1990s
CAD800,000
730 days within a 5-year period
3 Years
Canada-Prince Edward Island
Mid-1990s
CAD 350,000
730 days within a 5-year period
3 Years
Canada-Quebec5
N.A
CAD 800,000
730 days within a 5-year period
3 Years
France
2013
€10 million
NA
5 Years
Greece
2013
€250,000
No
7 Years
Hungary
2013
€250,000
No
8 Years
Ireland
2012
€500,000
No
N.A
Latvia
2010
€35,000
No
10 years
New Zealand
N.A
$NZ 1.5 Million
146 Days/year
5 years
Portugal
2012
€500,000
7 Days/year
6 years
Singapore
N.A
SGD 2.5 Million
No
2 years
Spain
2013
€500,000
No
10 years
Switzerland
N.A
CHF 250,000/yr
No
12 years
United Kingdom
1994
£1 million
185 Days/year
6 years
United States
1990
US$500,000
180 days/year
7 years
Sources: Arton Capital; Henley & Partners; National Authorities; UK Migration Advisory Committee and other immigration service providers. World Economic Forum ¹Alternate Investment options may be eligible ²Explicit minimum residency requirements under the immigrant investor program; residency criteria to qualify for citizenship may differ. ³Including the qualification period for permanent residency under residency programs 4 Program Suspended since 2014 5Although not specific to the immigrant investor program, retaining permanent residency requires the physical presence of 730 days within a five-year period.
Why are Countries Selling Citizenship?
Countries are selling citizenship or opening up citizenship to foreign nationals because it encourages
— a significant investment in a country
— Brings in talent and skilful
For example, in St Kitts and Nevis, the amount of money flowing into the public sector from the economic citizenship programme grew to nearly 25% of GDP in 2013.
Image: IMF
Why do people buy citizenship?
Foreign investors see a number of benefits to acquiring citizenship or residency permits, according to the Migration Policy Institute. The ability to move families permanently to countries such as the US, the UK or Australia is a major draw, while many see expanding their ability to travel visa-free as a major advantage. This is especially true for some of the European nations offering programmes. As this chart shows, Maltese and Cypriot schemes offer visa-free access to a large number of countries.
Image: IMF
However, the offer of increased visa-free access has prompted concerns about transparency, as well as global security. And there is also the risk that economies could become overly dependent on the capital inflows from these programmes.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
A huge thanks to BookMyForex, and their Customer Support team for their exceptional customer service, and for seamless processes they have in place for our Forex needs.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
It has been close to a decade since BookMyForex is assisting me in all my Forex needs. What an incredible journey it has been with BookMyForex. My trust & confidence in BookMyForex is such that in the past so many years, no other financial entity other than BookMyForex has dealt with all my Forex requests. Once I have raised a request, I rest assured that’s it’s in the right hands and gets done always with extraordinary service.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
When it comes to hassle free inter-country currency exchange and transfer there are many companies and banks which talk about competitive rate and fast service, but Bookmyforex is the one which actually fulfills both these criteria. I am a happy customer of Bookmyforex, who joined in June 2016 and had never faced any difficulty in getting money transferred. I would recommend Bookmyforex to every student, professional, and tourist who want a stress-free service in this competitive world.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
I used BookMyForex for my first visit to Singapore & Bali. BookMyForex representative made it easy and user friendly for me. Their staff is really helpful throughout the process and the rates applied are also lesser compared to other forex providers. I would highly recommend BookMyForex to everyone travelling abroad.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
I am a graduate student at the Carlson School of Management with my roots in Banglore. Bookmyforex by far has the best conversion rates with the least hassles and extremely supportive staff. I recommend every prospective student or traveler going aboard to use Bookmyforex and experience their amazing service.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
I am using BookMyForex services from past 4 years & I always had hassle free dealings. I highly recommend BookMyForex for your maiden visit & you will surely use them in future.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
Superb rates, great service, priority support, and hassle free card reloads – is all that you can expect from BookMyForex, apart from their complimentary referral discounts & zero fee multi-currency cards. Be it a casual trip to Thailand or business travel to the U.S, BookMyForex is a one-stop shop for all your forex needs. Highly satisfied!
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
I had a great experience with BookMyForex during my travel to Sweden. These guys have an excellent Service, best market rates and a high level of professionalism. Many thanks for all your dedicated & amicable support. Highly recommended for trouble-free experiance.
Nitin Motwani is the founder and CTO at BookMyForex. A former Silicon Valley professional, Nitin is devoted towards his vision by coming up with innovative tech-driven products. In his free time, Nitin likes to compose music and play the guitar.
Transfer Money Abroad at Exact Interbank/ Mid-market Rates from the Comfort of your Home/Office
Valid for all types of Import/ Export and Commercial transactions I Enjoy first three Money Transfersat exact "InterBank Rates"
Inquire Now
Leave a Reply