Citizenship by Investment in Cyprus, Turkey and the Caribbean: Why a Second Passport Is a Prime Necessity

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It wasn’t so long ago that a single passport was enough if it provided its holder with a host of rights and privileges. For instance, the US passport used to be one of the most powerful globally, unlocking free entry to 185 countries. 

 

The pandemic has changed everything: at this point, citizens of the US - a country that was highly affected by the coronavirus - can only travel to 28 countries. This list would be even shorter if we discarded the countries that impose a two-week quarantine upon arrival on US nationals. For instance, that’s what the UK and South Korea do.

 

Moreover, on July 18, 2020, the EU has once again recommended to forbid Americans entry to the Schengen zone. The same day, the Canadian authorities confirmed that their borders would remain closed for US passport holders for at least an extra month (unless in cases of dire necessity). While the most ‘powerful’ passport in the world cannot provide freedom of movement to its holders, what can we say about the passports whose power was limited even before the pandemic.     

 

In the new reality, a second citizenship ceases to be a luxury and becomes a prime necessity and basically a ‘means of transportation’. Experts maintain that a second passport allows affluent individuals to detach themselves from the politics of their countries of origin - and from the global cataclysms. 

 

In terms of Citizenship by Investment (CBI) programmes, the offerings of Cyprus, Turkey and countries of the Caribbean region are the most popular among HNWIs globally. 

 

The citizenship of Cyprus will enable you to enter 173 countries without a visa, including the EU and the UK. Moreover, a Cypriot passport will allow you to relocate to the UK and apply for British residency and citizenship (if you meet the immigration requirements). You can obtain a passport of EU member state Cyprus in just 180 days by investing €2,150,000 into the local economy. Now, you have an opportunity to obtain Cypriot citizenship under very beneficial conditions: the property in Cyprus is currently 30% cheaper compared to the previous year. 

 

A Turkish passport will unlock free entry to 110 countries including Singapore, Japan and South Korea. One of its key benefits is the opportunity to relocate to the UK with a business visa for Turkish entrepreneurs and later apply for the UK residency and citizenship. You can obtain a Turkish passport in just two months by investing $250,000 onwards into property.

 

Caribbean passports still hold the leading positions in the investment migration market. The citizenship of St Kitts and Nevis will allow you to visit 156 countries without a visa, Antigua and Barbuda - 140 countries, St Lucia - 132 countries, Grenada - 131 countries, Dominica - 127 countries, including the UK and the EU. Minimum investment starts at $100,000. At that, you can get a passport remotely in just 60 days. Investors planning to obtain a second citizenship for the whole family appreciate the offering of St Kitts and Nevis. You can receive this citizenship for a family of up to four members at just $150,000 (instead of the previously required $195,000). You can jump on this opportunity till the end of 2020.

 

Astons is a leading global immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including the UK, Turkey, Vanuatu, the EU and the Caribbean

 

For further information or to discuss your personal circumstances in a private consultation, please contact Astons at info@astons.com or call +44 207 292 2977