We have taken advantage of the inexpensive yet lifelong Permanent Residency (PR) card of Singapore that did not even require a stay in Singapore until Dec 2011 for a few of our clients.
We have also taken advantage of discounts of Caribbean countries who offer 50% discounts on donations to the Govt.
We have also advised again and again that these passports will all be shut down so the best time to acquire them is NOW, subject to whatever is still available.
Here is our last post of 10 Feb 2019, meanwhile, a lot has changed in just a month and a half on the second passport front.
Firstly, thousands of wealthy around the world are now waking up to the fact that second passports are useful, which is exactly what we have advised since at least 2009 to our clients and our friends.
According to this article, second passports are now a "status symbol" in the world of the super rich.
For us, they remain a useful tool for the rich instead of just being a "status symbol" because when you need it the most, that's the time you won't be able to acquire it, therefore, this needs months and years of advance planning.
We have one short advice for all: You must take a new passport when you don't need it as a Plan B, because when you need it the most, you won't be able to get it.
We have one short advice for all: You must take a new passport when you don't need it as a Plan B, because when you need it the most, you won't be able to get it.
Passports can be turned into a collection and one can acquire as many as one wants. This provides many advantages from travel, to children's education, to family safety and much more.
In our first link above from our blog post of 10 Feb, you will find a link within, of all the advantages for having second passport from 13 June 2018.
Cyprus is one of the fastest and best passports to acquire but the EU is after them and they may even shut down by next year, according to our guess.
Cyprus just hiked their requirement from EUR 2m to EUR 2.5m from mid Feb 2019 that was available for over 3 years at EUR 2m.
This indicates that the rules are indeed tightening.
"Under the new criteria, a Cyprus passport will be granted in exchange for an investment of 2.5 million euros ($2.8 million), up from two million euros, including the purchase of a residency."
As we have been saying, EU is after all countries giving away Golden visas and passports in EU because a few rotten apples have abused the system.
4 Mar 2019: Politicians Demand End To EU's "Golden Visas"
We also highly recommend the Antiguan passport which is easy to acquire and quickly delivered within a few months.
Here is some more information from an independent source, capturing the essence.
'The first option for a contribution to the National Development Fund, is a path to Antiguan citizenship is suitable for both single applicants and families of up to four, necessitating a $100,000 (€87,800) contribution, with processing fees of $25,000 (€22,000).
For families with five or more members, this contribution rises to $125,000 (€109,750), excluding the relevant processing fees. These figures represent a 50 percent reduction on the standard investment and will only apply until October 31, 2019.
Individuals can also earn second citizenship by making a minimum real estate investment of $400,000 (€351,200). This sum must be invested in an approved project, with ownership being retained for five years. Until October 31, 2019, two related-party applicants can make a joint investment to this effect, with each investing a minimum of $200,000 (€175,600) to qualify.
The CIP’s third citizenship initiative seeks to encourage business investments and requires individuals to contribute $1.5m (€1.32m) to a local venture. Parties of two or more must provide a joint investment totalling $5m (€4.4bn), with each individual supplying a minimum of $400,000 (€351,200). The fourth and final option tenders citizenship in exchange for a contribution to the University of the West Indies Fund.
Applicants selecting this option will be required to make an investment of $150,000 (€131,700) for a family of four or more persons – this option is not available to single applicants. Participation in this initiative will entitle one member of the family to a one-year, tuition-only scholarship at the University of the West Indies’ Antigua campus."
'The first option for a contribution to the National Development Fund, is a path to Antiguan citizenship is suitable for both single applicants and families of up to four, necessitating a $100,000 (€87,800) contribution, with processing fees of $25,000 (€22,000).
For families with five or more members, this contribution rises to $125,000 (€109,750), excluding the relevant processing fees. These figures represent a 50 percent reduction on the standard investment and will only apply until October 31, 2019.
Individuals can also earn second citizenship by making a minimum real estate investment of $400,000 (€351,200). This sum must be invested in an approved project, with ownership being retained for five years. Until October 31, 2019, two related-party applicants can make a joint investment to this effect, with each investing a minimum of $200,000 (€175,600) to qualify.
The CIP’s third citizenship initiative seeks to encourage business investments and requires individuals to contribute $1.5m (€1.32m) to a local venture. Parties of two or more must provide a joint investment totalling $5m (€4.4bn), with each individual supplying a minimum of $400,000 (€351,200). The fourth and final option tenders citizenship in exchange for a contribution to the University of the West Indies Fund.
Applicants selecting this option will be required to make an investment of $150,000 (€131,700) for a family of four or more persons – this option is not available to single applicants. Participation in this initiative will entitle one member of the family to a one-year, tuition-only scholarship at the University of the West Indies’ Antigua campus."
Fraud companies and fraud advisers are all over the place. This news about yet another fraudster in Dubai. But Dubai does a great job of hiding such news because there are no consumer protection laws and not much appears in the media to warn the people.
This leads to more gullible people to continue being fleeced and fooled every year in Dubai because most of the good people like service providers etc have left Dubai years ago.
People like this company are the enablers who arrange fraud clients to get passports which causes the entire system to crash.
St Kitts Govt has suspended this company and all their associates. They used to market themselves as a company with "200 year old British pedigree"!
22 Mar 2019: Dubai firm implicated in St Kitts-Nevis citizenship fraud now banned as marketing agent
Turkey has just dropped the requirements to bring over more people and strengthen it's position in the Middle East/Europe corridor.
"Foreign individuals who meet the following criteria can apply for Turkish Citizenship exceptionally with the decision of the Cabinet of Ministers;
Make fixed capital investment of USD 500.000;
Purchase real estate for USD 250.000
Provide employment for at least 50 people;
Deposit minimum USD 500.000 in Turkish bank for three years;
Purchase State debt instruments for USD 500.000 for three years;
Invest 1.5 million dollars in a real estate fund or venture capital investment fund for three years."
3 Mar 2019: UAE- Turkish citizenship demand in Middle East soars after Ankara slashes investment by 75%
Make fixed capital investment of USD 500.000;
Purchase real estate for USD 250.000
Provide employment for at least 50 people;
Deposit minimum USD 500.000 in Turkish bank for three years;
Purchase State debt instruments for USD 500.000 for three years;
Invest 1.5 million dollars in a real estate fund or venture capital investment fund for three years."
3 Mar 2019: UAE- Turkish citizenship demand in Middle East soars after Ankara slashes investment by 75%
There have been rumors since last year, due to Trump's hatred of all things foreign, that EB-5 visa program of USA may be shut down or tightened. So far, they are still reviewing the citizenship route for foreigners since early 2018.
When it may shut down nobody knows because Trump keeps renewing the 6 monthly extension every time since he has personally benefited most from such foreign investors's moneys into his real estate project but national security and unemployment are major concerns besides some fraud.
11 Mar 2019: Immigration Leaders Sound Alarm About Possible Demise Of The U.S. EB5 Investor Immigration Program
Due to this fear of US EB-5 visa shut down, almost everyone is taking the exit route from GCC.
Thousands are fleeing voluntarily and millions have been deported and anyone who has been in GCC for more than 10-20 years, doesn't likely want to return to their home countries because they don't have a network back home nor can they start a new business or find a new job after a certain age.
Thousands are fleeing voluntarily and millions have been deported and anyone who has been in GCC for more than 10-20 years, doesn't likely want to return to their home countries because they don't have a network back home nor can they start a new business or find a new job after a certain age.
One of their option that remains is to move to another country like America or Canada or Turkey or at least take a travel passport like Caribbean to have a "Plan B" or anywhere they can find an escape route because entire GCC is crumbling.
The numbers of expats rushing out of GCC is just astonishing. This also includes a lot of GCC nationals.
The numbers speak for themselves.
The new comers coming to GCC or UAE over the last 2-4 years need to understand and grasp the reality that the Middle East game of excess money is over!
It lasted for 45 odd years while oil was high and money was flowing, now oil is not flowing (just look at oil price and volumes both) and money has evaporated. It's a triple whammy, because price is down, oil volume is lower and old money is flowing out.
The new comers coming to GCC or UAE over the last 2-4 years need to understand and grasp the reality that the Middle East game of excess money is over!
It lasted for 45 odd years while oil was high and money was flowing, now oil is not flowing (just look at oil price and volumes both) and money has evaporated. It's a triple whammy, because price is down, oil volume is lower and old money is flowing out.
"According to the official data from the US Citizenship and Immigration Services, the number of people participating in the scheme has risen over the last few years, up from 1,369 approvals in 2010 to 9,602 last year. The maximum number of participants is currently capped at 10,000.
While China dominated the list, with 4,642 approvals issued – or 48.3 percent of the total – 54 residents from the United Arab Emirates were approved, a 350 percent increase year-on-year compared to 2017."
Many folks believe that Vietnam and India are doing well, who have almost no understanding of emerging markets.
Well, that's just on paper.
Rich Vietnamese are also rushing out of Vietnam or at least acquiring a Plan B.
"Data from the U.S. Immigration Fund reveal that the number of Vietnamese nationals issued EB-5 visas climbed to 693 last year, a 47 percent increase from 2017, ranking the country the third fastest-growing market in the world for the U.S. immigrant investor visa program after China and India.
Just four years ago, Vietnam made up only 1 percent of all EB-5 visas granted by the U.S. government."
Then there are the Indians.
They simply cannot wait to escape out of the hell unleashed by PM Modi.
"The number of Indians getting investment linked EB-5 visas in the US, also known as “cash for green card”, has risen nearly four-fold in the past two years.
According to statistics issued by the US Department of State , 585 such conditional green cards were issued to Indians during the 12-month period ending September 2018, as against 174 in fiscal 2017."
As you can see, the number of Chinese are declining in the last few years who wish to go to America but the number of Vietnamese and Indians is jumping manifold. This shows 2 things:
1. Chinese economy is doing very well and despite such a large population, persecution of people is reducing as is unemployment and poverty while business opportunities remain sky high. Whereas, it's exactly the opposite in both India and Vietnam.
2. Chinese are much more information and news savvy with a focus on the future. Whereas Indians and Vietnamese are not so.
The last 2 nationalities are going to America on a "hope" that things will work out well (by leaving their countries behind due to lack of opportunities to succeed) regardless of the fact that for their entire lives they will need to pay US income, wealth and inheritance taxes wherever on Planet Earth they may live plus the charm of US opportunities, education and safety (so called "American dream") is simply not there any longer due to rising unemployment, bankruptcies, food stampers, racism, crimes and corruption.
So, we wish everyone well who thinks America is going to do great over the next decade and two.
One of the biggest reasons the western nations are failing is because their cost of living is sky high, opportunities and incomes are shrinking every single year yet taxes remain high while consumer spending and jobs are worsening every year and as a result major multi billion dollar companies are collapsing speedily making a bad situation worse.
Majority Canadians and Americans are are at the verge of bankruptcy while 38 million Americans as on date are on food stamps (more than the entire Canadian population).
Let's not even talk of US debt or Canadian debt whether in student loans, Govt debt, mortgage loans or credit cards etc.
Lastly, due to the massacre in Christchurch, NZ, immigration has become the first casualty.
Australia has immediately announced a reduction in number of immigrants as well as the news that they won't allow any new immigrant to live in Sydney or Melbourne i.e. any of the major cities.
This is what we have been saying that rules will become tight and they won't remain favorable for future work permit professionals or wealthy immigrants alike and keep becoming extremely difficult and useless especially for the wealthy.
21 Mar 2019: Australia just cut its annual immigration cap by 30,000 people and blocked migrants from major cities
One of the hottest subjects in India currently over the last few years due to prosecutions by the Govt, business collapses, demonetization and implementation of a flawed and ever changing GST, financial crimes committed in the past by many, terrible corruption, high pollution, deteriorating crime situation, worsening education system and lack of any jobs, high rates of interest and lack of bank lending causing tough economic conditions, i.e. everything is catching up with wealthy businessmen across India so they have no choice left but to leave and run from India.
Here is a snapshot of all the major immigration programs in an Indian newspaper recently which is what the wealthy wish to acquire as a status symbol.
What we can advise our Indian friends is that now it's too late to get a passport for a decent country plus work or business opportunities are very tough from Australia to Canada to America to UK to Singapore etc.
However, many have a "dream" and don't know the facts so they will continue to scramble for these passports but the best time to acquire such passports was almost a decade ago when Indians were very reluctant to do this due to their emotional attachment to an Indian passport plus the Indian economy was doing above average between 1995 until 2014.
Now since last year when most doors are shut and almost nowhere in the world one can start a business and succeed but people can surely try.
The reason Indians are trying now is because their country is not in a great shape and they don't see any option besides exiting, if their situation allows.
Now since last year when most doors are shut and almost nowhere in the world one can start a business and succeed but people can surely try.
The reason Indians are trying now is because their country is not in a great shape and they don't see any option besides exiting, if their situation allows.
A few routes for second passports are still available like Cyprus or Caribbean and lately Turkey but to take a "first world" passport is not only difficult but the cost of living is sky high and racism is at it's highest (and will continue to worsen) plus business opportunities are almost non existent, even if you are a billionaire!
As we have seen with the largest ever education scandal in America last month that even US education system is falling apart (besides hundreds of university and college closures and other fraud cases) and is available for sale to the highest bidder while America and UK etc tightening their education visa regulations very harshly which is one of the reasons for the rise in EB5 visa for USA because many wealthy parents are using EB5 as a route for their children to receive education in USA.
In addition to the above, many people are not aware that Malaysia, Thailand and Philippines also offer residencies that is a legal right of entry and right of abode in all the countries below and unlike a visit visa, entry cannot be denied and they are valid almost lifelong without a requirement to start a business or even stay for mandatory periods of time.
You may get more information below:
We believe Malaysia has slowed down or kind of halted since last year after change of their PM.
We can help with Philippines which takes about 40 days of stay in Philippines because they keep the passport with them (while processing for 30 days) but with others you can contact them directly or use an agent but their processes are quite simple.
Philippines Retirement Authority
Malaysia: My Second Home Program
Thailand Elite Residency
You may contact us if you have any queries related to a second passport or residency from the link at top right of this blog under Contact Us via email.
We have partnerships with some of the top lawyers or consultants in each of those countries.
We have partnerships with some of the top lawyers or consultants in each of those countries.
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