{"id":33055,"date":"2020-10-09T09:35:33","date_gmt":"2020-10-09T05:35:33","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=33055"},"modified":"2021-01-31T06:42:07","modified_gmt":"2021-01-31T02:42:07","slug":"why-mena-entrepreneurs-should-invest-in-citizenship-by-investment-programs","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/why-mena-entrepreneurs-should-invest-in-citizenship-by-investment-programs\/","title":{"rendered":"Why MENA Entrepreneurs Should Invest in Citizenship by Investment Programs"},"content":{"rendered":"

The unprecedented circumstances seen in 2020 have thrown a spanner in the works for economic and business sectors across the world. Freedom of movement is all but gone, with economic and political strife breaking out in all corners of the globe, making it challenging to conduct domestic or international business.<\/p>\n

But even before COVID-19 closed borders everywhere, ambitious entrepreneurs found it challenging to break into the global market due to the passport they held, particularly individuals from MENA countries. Fortunately, MENA entrepreneurs have found a solution to their problems- obtaining a second passport<\/strong> – and the outbreak of coronavirus seems to have swayed the cost of obtaining one in a favourable direction for investors.<\/p>\n

In This Article<\/em><\/h2>\n
    \n
  1. The Benefits of a Second Passport<\/a><\/li>\n
  2. Obtaining a Second Passport<\/a><\/li>\n
  3. Why Invest in a Second Passport?<\/a><\/li>\n
  4. Book a Free Consultation<\/a><\/li>\n<\/ol>\n

    The benefits of a second passport<\/b><\/em><\/h3>\n

    In this instance, a second passport and second citizenship refer to the occasion where an individual is a legal citizen of a country that is not their home nation, either through dual citizenship or renouncing citizenship, and thereby gaining access to the financial, societal and economic benefits of another nation.<\/p>\n

    Investing in a second passport is a gateway to many benefits, including a safe and stable political climate, visa-free travel to hundreds of countries, prosperous economy, quality education opportunities, world-class healthcare and most importantly, access to business opportunities and global markets<\/a>. And due to the latter, it is fast becoming a favourite investment for MENA entrepreneurs.<\/p>\n

    Related Article: Limited Time Offer \u2013 Save $45,000 on St Kitts & Nevis Citizenship by Investment<\/a><\/em><\/p>\n

    In particular, Caribbean countries like St. Kitts and Nevis have seen a steady uptick in MENA applicants to its Citizenship by Investment Program<\/a> due to the high living standards, tropical environment and enticing benefits, like visa-free travel to 156 countries.<\/p>\n

    \"St<\/b><\/em><\/h3>\n

    Obtaining a second passport<\/b><\/em><\/h3>\n

    Typically, a second citizenship could only be obtained through ancestral lineage, naturalisation,\u00a0 marrying a foreign national or through birthright citizenship. Today the preferred option is applying through Citizenship by Investment (CBI) programs<\/a>.<\/p>\n

    Since the inception of the St. Kitts and Nevis citizenship by investment program in 1984, many countries have CBI programs in place that allow individuals to legally gain citizenship through a non-refundable donation to the government or by investing in real estate and holding the property for several years.<\/p>\n

    \"Aerial<\/em><\/p>\n

    You might also like: Antigua & Barbuda Citizenship by Investment Program Reduces Fees (Limited Time Offer)<\/a><\/em><\/p>\n

    The process is usually straightforward and fast, with most passports issued within 4 months of application approval. Caribbean Citizenship by Investment Programs<\/a> tend to be the more favoured route in comparison to European Citizenship by Investment Programs<\/a>.<\/p>\n

    A second passport from countries like Grenada<\/a> and St. Kitts and Nevis offers all the benefits MENA entrepreneurs would want at a much more affordable cost and through a quicker, simpler process than that of their European counterparts.<\/p>\n

    \"Grenada<\/p>\n

    While the worldwide pandemic\u2019s impact had devastating consequences, it has made 2020 an ideal time to invest in a second citizenship. Those seeking the lifelong benefit of having more options for living, travelling, business, investments and tax regimens are given the opportunity to make their dreams a reality.<\/p>\n

    Several Caribbean CBI programs are now offering favourable promotions on investment contributions or adding new investment options due to the COVID-19 crisis.<\/p>\n

    This includes the well-established St. Kitts and Nevis Citizenship by Investment Program<\/a>, whose contribution option for a family of up to 4 has been reduced from US$195,000 to US$150,000 until the end of the year<\/strong>.<\/p>\n

    People Also Read: How Long Does It Take to Get Citizenship of Vanuatu?<\/a><\/em><\/p>\n

    As of 6 September 2020, Dominica Citizenship by Investment Program<\/a> and its newly-implemented Entrepreneur Visa program which allows individuals to qualify for naturalisation within 2 years on the conditions that a US$50,000 investment is made and 3 months of the year is spent in the country. Obtaining a legal second passport<\/a>\u00a0has become more affordable for prospective investors.<\/p>\n

     <\/p>\n

    \"Apply<\/a><\/span>