Gaining citizenship in another country is a very exciting idea. Dual citizenship, or even taking up new citizenship after surrendering the citizenship of your native country, has lots of benefits.
Most people look forward to enjoying a better lifestyle, better educational and medical facilities, and also ensuring the safety and security of future generations.
However, acquiring citizenship in a foreign land is difficult, especially since all countries take their security very seriously today. So if you are unaware of the application procedures and are not guided properly in your venture, your application may be turned down.
If you do not follow the right channels and do not have your things in order, your application will be rejected, and you may be barred from applying to some countries for citizenship forever.
While every country has its own regulations while accepting applications for citizenship, certain things can be said of more or less every country. Hence, knowing a few things before you start the application process is vital.
Difference Between Residency and Citizenship
Gaining permanent residency status in another country and becoming a citizen is not the same. Unfortunately, not many are aware of this phenomenon.
For example, in the USA and even Canada, many people have permanent residency status and green cards. They also enjoy some of the benefits, like the citizens.
However, that does not make them citizens as such. Hence, while many green cards and permanent residency permits are given out to each other, only a few citizenships are granted.
This is because, in most countries, people have to go through a naturalization process to be allowed citizenship. This process requires staying in the country for a specific number of years.
In addition, one has to go through several rounds of interviews as well. Entry into the country is mostly in the form of being a skilled worker or as a student, and one has to rely on work permits to earn a living there.
Hence, you should be clear about the future and where you see yourself in the next few years. That will determine the next steps of your application process.
If this seems time-consuming, you can apply through the Citizenship by Investment method. This is a far more streamlined and quicker method whereby you will be making contributions to the growth and development of the host country.
Countries in the Caribbean and Oceania and many European and non-European countries have this option. If you can prove your investment capacity, you can gain citizenship in the country of your choice in a few months.
Misconceptions about Applying for Citizenship
There is a common misconception that unless one is very wealthy and has lots of money to spare, one cannot aim to apply for citizenship through the CBI method.
For regular individuals, only conventional immigration systems are the only option, and one must wait years before approval comes through.
Another misconception is that for applying by Citizenship by Investment, one has to have contacts in very high places, which is probably why CBI works faster than other kinds of applications.
All of the above is wrong.
The truth is that anyone who can make the initial minimum investment is eligible to apply for citizenship through CBI. In addition, they cannot have any criminal record back home and must have an international passport.
Any business owner or digital entrepreneur can also try this method, and they can gain international recognition for their businesses as well.
Countries like Malta, Portugal, Grenada, Turkey, Saint Lucia, Dominica, and Montenegro, among others, offer the “Golden Visa” for interested investors, which opens up numerous possibilities for business, travel, and tax benefits.
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How to Ensure that Your Application for Citizenship Goes Smoothly?
As mentioned earlier, whether you are applying for citizenship through CBI or any other method, you must have a clean criminal record in your native country.
In addition, you must also prove you have acquired the investment money through legal means. Everything depends on the verification, so ensure all the information you provide is correct.
In addition, you must also be mindful of where you are investing in the host country. The investment will not hold well unless you invest in some designated economic zones. You can invest in sectors like monetary funds, buy government bonds, business domains, or real estate.
This process is so smooth and fast because the host country also wants to secure prospective investors as soon as possible. After all, your funds will be used to improve the lives of the residents, and investors are always welcome.
Before You Go…
If you want to move to another country, a global investment migration firm like GlobalResidenceIndex.com can help you.
You will get all the information you need to apply for citizenship in the specific country of your choice. They will help you fill out the application form, put your documentation together, and everything else in between.
As for yourself, you will gain admission to your dream country with your family in no time. You will be an esteemed citizen who has contributed towards the infrastructural growth and creation of jobs in your host country, which is also a wonderful feeling. You will be enjoying your dream lifestyle very soon indeed.