MOLDOVA’S CITIZENSHIP BY INVESTMENT PROGRAM ENABLES CITIZENSHIP RIGHTS TO BE TRANSFERRED TO FUTURE GENERATIONS
Imagine being a citizen of Moldova – a European country that is geographically close to the Middle East and Asia and one of the world’s main wine exporters, with a strong economic relationship with China. Imagine being able to transfer your citizenship rights in Moldova to your future generations. Such is the case, as was confirmed by Iulia Petuhov, Head of the Citizenship by Investment Program of the Republic of Moldova, at a recent immigration conference in Singapore.
Besides stressing the transfer of full citizenship rights without restrictions to future generations, Petuhov stated that Moldova’s citizenship by investment program “offers a highly competitive pricing structure, with minimum investment as low as EUR 100,000, and applications for family members would cost only an additional EUR 15,000 per person. . . . Moldova also issues its citizens with biometric passports and has a very straightforward and well-thought out application process, in keeping with the highest industry standards. The Moldova passport offers holders visa-free/visa-on-arrival access to 121 destinations including the European Schengen zone”.
Moldova’s citizenship by investment program requires investors to make a contribution (donation) to the Public Sustainable Development Fund of Moldova (Public Investment Fund). The amount of this contribution is 100,000 Euros for a single applicant, 115,000 Euros for a couple, 145,000 Euros for a family of 4, and 155,000 Euros for a family of 5 or more. In addition, there are (a) post-approval government service provider fees of 35,000 Euros per application, (b) government fees of 5,000 Euros for the main applicant, 2,500 Euros for a spouse, 1,000 Euros for a child up to age 15, 2,500 Euros for a dependent child between ages 16 and 29, and 5,000 Euros for a dependent parent (of the main applicant or of the spouse) who is age 55 or older, (c) due diligence fees of 6,000 Euros for the main applicant, and 5,000 Euros for a spouse, dependent children older than age 16, and/or dependent parents, and (d) biometric passport fees of 300 Euros per individual.
Moldova emphasizes that its citizenship by investment program has a “four-tier” due diligence system before applicants can acquire citizenship; this system is considered one of the most thorough due diligence processes in the world. Notwithstanding this enhanced vetting, Moldova strives to process all applications under its citizenship by investment program within approximately 90 days.
Besides the above-described “visa-free/visa-on-arrival access to 121 destinations including the European Schengen zone”, other benefits of obtaining Moldovan citizenship for foreigners are low tax rates (including that Moldova has nearly 50 operational tax treaties in place, to reduce the risk of double taxation), free economic zones, permitted dual citizenship, and no residency requirement.