CBI PROGRAMS OFFER ALTERNATIVE FOR APPLICANTS SEEKING CITIZENSHIP

DISCRETIONARY CITIZENSHIP BY INVESTMENT PROGRAMS OFFER ANOTHER ALTERNATIVE FOR APPLICANTS SEEKING CITIZENSHIP

Most popular citizenship by investment programs are characterized by the country offering citizenship setting forth the specific amount of investment that must be made, and any other specific requirements that must be met, by a citizenship applicant.  However, in other countries, the specific amount of investment and other applicable specific requirements for citizenship are not set forth, but rather the grant of citizenship is determined in the discretion of such country based on more general conditions.  The journal, “Citizenship By Investment”, has identified 24 countries that have such discretionary citizenship by investment programs, which offer another alternative for applicants seeking citizenship.

One example of a discretionary citizenship by investment program is in Argentina.  A person can become a citizen of Argentina in the discretion of the government if such person has established a new industry or introduced a useful invention.

Another example of a discretionary citizenship by investment program is in Austria.  If the person has been a resident of Austria for 6 years, and the acquisition of citizenship is in the economic interest of the country, such person in the discretion of the government can become a citizen of Austria.

Belize offers a discretionary citizenship by investment program.  In Belize, a person who has made a substantial contribution to the economy and/or well-being of Belize, or has rendered distinguished services to the country, can become a citizen of Belize in the discretion of the government.

Mexico also has a discretionary citizenship by investment program.  A person can become a citizen of Mexico in the discretion of the government if such person has been resident in Mexico for 2 years (which requirement can be waived) and has provided outstanding services or products to Mexico or employed entrepreneurial activities in the country.

A fifth example of a discretionary citizenship by investment program is in Slovakia.  If a person is of special benefit to Slovakia in the area of economics, such person can become a citizen of Slovakia in the discretion of the government. 

Other countries cited by the journal, “Citizenship By Investment”, that offer discretionary citizenship by investment programs are Albania, Brazil, Burkina Faso, Cambodia, Cape Verde, Central African Republic, Comoros, Dominican Republic, Mauritius, Nicaragua, Pakistan, Philippines, Romania, Russia, Saint Vincent and the Grenadines, Seychelles, Singapore, Slovenia, and Sri Lanka. 

It should be noted that some countries offer a “discretionary citizenship by investment” option, in addition to other citizenship by investment alternatives with more specific investment amounts and other specific requirements.

Discretionary citizenship by investment programs have the disadvantage of lesser certainty as to what is necessary to acquire citizenship relative to other citizenship by investment programs.  In addition, discretionary citizenship by investment programs may require a larger investment or other “economic contribution” to a country than other citizenship by investment programs to receive the discretionary approval of such country’s government.  On the other hand, if a person is focused on becoming a citizen of a particular country, and there is no other alternative to obtain citizenship in such country, a discretionary citizenship by investment program may offer the only available opportunity for such person to become a citizen of such country, and therefore can prove to be quite beneficial for such person.

If you would like more information on discretionary citizenship by investment programs, please contact CitizenMatch, at info@citizenmatch.com, or (773) 349-6693, for assistance. Instagram Synopsis of Blog

Posted on October 1st, 2019 | All
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