Astons, an investment migration company with a 30-year impeccable track record, commented on the current market trends. One of the largest global news agencies Reuters interviewed Astons’ Konstantin Kaminskiy and Managing Director Arthur Sarkisian on the issues of the UK – EU migration.
In the past months, immigration experts have witnessed an increasing demand for EU citizenship among UK entrepreneurs. Apparently, affluent Britons act preemptively in the view of a possible no-deal Brexit. They only have four months before their freedom of movement in Europe may end for good.
Astons commented to Reuters that in Q3 the number of clients interested in Cypriot or Greek residency and citizenship programs soared by 50% and 30% YoY, respectively. Experts also report a rise in British applications for Austrian, Maltese and Caribbean citizenships.
Caribbean nationals, for one, enjoy visa-free access to the EU, so the programmes of St Kitts and Nevis, St Lucia and other providers of Citizenship by Investment routes turn out as a seamless solution for Britons who need to travel to the continent.
A passport of Saint Lucia unlocks visa-free entry to 146 countries. You can obtain citizenship in four months with a minimum investment of 76,152 GBP. The passport of St Kitts and Nevis requires an extra 40,000 GBP. It is processed in two months and enables you to enter 156 without a visa.
British investors hedge their risks by obtaining second citizenship, and the engagement rates are now higher than right after the 2016 referendum.
You can obtain Cypriot residency in just two months with a property purchase of 300,000 EUR. The passport of Cyprus would require a minimum property investment of 2 million EUR, as well as a non-refundable donation. Last December, the media published information of Conservative Party leaders seeking Cypriot citizenship. Indeed, the demand is all-encompassing.
“Both Cypriot and Caribbean investments are proving very popular … primarily driven by high-net-worth individuals from the UK who have an eye on the future and life after Brexit,” said Konstantin Kaminskiy.
As an alternative, UK investors are looking into the Maltese and Portuguese programmes. Malta offers a passport for an investment of approximately 1 million GBP. It takes up to 14 months to obtain citizenship. Portugal only grants EU residency, the application is generally processed within three months.
“With HNWIs, time is often more important than what is essentially a small fluctuation in cost and many are looking to secure additional citizenship as fast as possible in the pandemic landscape,” said Arthur Sarkisian.
Astons is a leading global immigration advisory firm with offices worldwide. We support investors with residency & citizenship investment solutions across globe. For further information or to discuss your personal circumstances in a private consultation, please contact Astons at [email protected].
