How are passport programs changing for Russians and Belarusians in 2023?

In 2022, there were four ways for citizens from Russia and Belarus to obtain a passport, which included countries like Turkey, Montenegro, Grenada, and Vanuatu. However, starting from January 1, 2023, Montenegro discontinued its program that allowed obtaining citizenship through real estate investment. Nevertheless, other Caribbean countries such as Antigua and Barbuda, Dominica, Saint Lucia, and Saint Kitts and Nevis, as well as Malta, continue to offer their programs that provide the opportunity to obtain citizenship through so-called "golden passports." It is worth noting, however, that the Maltese system is known for its complexity, requiring applicants to undergo a thorough vetting process at four levels of reliability.

Available programs for obtaining a residence permit

Some residency schemes, such as those in Latvia and Greece, are currently unavailable to Russians. At the same time, the Spanish program is still actively operating and accepting new applications, as is the Portuguese program. The EB-5 investment scheme in the USA is still functioning, allowing foreigners to obtain residency, and there is a program in Cyprus for obtaining permanent residency. Additionally, there is a growing interest in obtaining residency based on financial independence, which opens new horizons in various countries across Europe.

Turkish citizenship through investment

As for Turkish citizenship, there are several options available for investors. The most popular method is purchasing real estate for an amount starting from400,000 US dollarsThe application processing time takes from three to six months, and the program can include a spouse and children under 18. It is important to note that it is preferable to purchase housing directly from the developer, as there are strict restrictions in the secondary market. When buying property for the purpose of obtaining a passport, it is necessary to ensure that the property has never belonged to foreigners, which can be difficult to track.

Rules and requirements for obtaining citizenship

• Loan amount.The amount equal to or exceeding $400,000 must be stated in the certificate of ownership and confirmed by an appraisal report conducted by an accredited company.
• Cadastral value.This means that we are talking about the cadastral value of this property.
• Differences in cost.In different regions of Turkey, the cadastral and market values can vary significantly.
• Features of Istanbul.In Istanbul, cadastral and market valuations usually coincide, making the city particularly attractive for investment purposes aimed at obtaining citizenship.

Preservation of citizenship

According to the terms of the current program, in order to maintain citizenship, the property cannot be sold for three years from the date of acquisition. This requirement protects investments and strengthens the investor's ties to the country. Thus, despite changes in legislation and the attractiveness of various countries, opportunities for obtaining citizenship through investment remain relevant and accessible for those interested.

It's always important to carefully consider your steps and stay informed about all the innovations in the field to make the right choice and achieve the desired result.

The opportunity to purchase housing during its construction phase is becoming increasingly popular. However, it is crucial to ensure that the developer already has full ownership rights to the property at the time of signing the contract. The construction period of the housing is counted as part of the mandatory three-year ownership period. Typically, the process of reviewing applications in this area takes from three to six months.

Holders of a Turkish passport enjoy benefits that include visa-free travel to over 125 countries around the world, including countries like Singapore, Japan, and South Korea. Additionally, Turkish citizens have the opportunity to move to the United States on an E-2 business visa.

The program for obtaining Turkish citizenship through investment.

The program that allows you to acquire Turkish citizenship through investment is an excellent option for those looking to quickly change their place of residence. It's also worth considering other opportunities, such as obtaining Turkish citizenship through real estate purchase or the Grenada citizenship program. The minimum non-refundable contributions to the Turkish state are:

• 150 thousand dollarsfor one investor (excluding additional costs)
• 200 thousand dollarsfor a family of four

You can start investing in approved real estate projects with an amount of350 thousand dollars...while investments in the hotel business will cost...220 thousand dollars.

Deadlines for document processing

The time required to prepare the documents varies from6 to 9 monthsThe program allows you to include in the list of participants:

• spouses;
• children under 30 years old;
• parents at any age;
• adult brothers and sisters of the applicants and their spouses, provided that they have no children and are not married.

Despite the fact that the application process remains the same, the requirements for bank verification and the assessment of applicants' reliability have tightened, and the document approval period has increased tonine monthsInvestors making decisions about investing in real estate or investment projects must be confident that they will be able to sell these assets at a favorable price in the future.five years.

Interesting investment opportunities

Among interesting investment opportunities, both ready-made student apartments and under-construction five-star hotels with high infrastructure can be highlighted. Before the pandemic, the profitability of hotels in Dominica, as well as in Saint Kitts and Nevis, was3-4% in dollarsAnnually. Obtaining citizenship from these island countries will provide the opportunity to apply for E-2 business visas in the USA, as well as visa-free entry to the UK, Schengen Area countries, and China.

Citizenship of Vanuatu through investment

The cost of the non-refundable contribution for obtaining Vanuatu citizenship starts from130 thousand dollarsfor one applicant, while adding20 thousand dollarsfor the spouse and$15,000.for each subsequent participant. The visa processing times for this program range fromthree to four months.

The participants of this program can be:

• spouses;
• children up to 25 years old;
• the parents of the applicant and his wife or husband, if they are older56 years old.

As of today, the citizenship by investment program in Vanuatu is one of the fastest and most profitable. Previously, until February 2022, the process of obtaining a passport was carried out inone to two monthsAfter submitting all the necessary documents, this process is now being delayed untilfour months.

The need for strict control over applicants

The reasons for the need to implement stricter control over applicants are efforts to ensure the stability and reliability of compliance with regulations. Citizens of Vanuatu can enjoy the benefits of visa-free entry to 130 countries around the world, including the United Kingdom. However, since 2022, additional special permission is required for travel to countries within the Schengen Area.

Simplification of banking procedures

Having a Vanuatu passport significantly simplifies the process of opening a bank account in financial institutions both in Europe and in the United Arab Emirates. However, to do this, one must confirm their legal connection to this island nation. This can be done, for example, by opening an account in a Vanuatu bank or obtaining a local driver's license.

Program for obtaining citizenship through investment

Furthermore, it is worth noting that the citizenship by investment program in Vanuatu is becoming increasingly relevant and in demand. Investors have the opportunity to gain insider information and analyze the international real estate market, which successfully helps them make informed investment choices. Investment programs also provide access to residency and permanent residency.

EB-5 program in the USA

Among such initiatives, one can mention the EB-5 program in the United States, which requires minimal investments from800 thousand dollarsin various business initiatives or centers focused on the development of specific regions or areas with high unemployment. For investment projects that do not have popularity restrictions, the amount exceeds1.05 million dollarsThe processing of such applications can take from two to two and a half years.

Participation in the program and the possibility of obtaining a green card

The program's conclusion allows not only the applicants themselves to participate but also their spouses and children who have not yet reached adulthood.21 years oldThe EB-5 program continues to accept applications from citizens of Russia and Belarus, but it is important to be prepared for a more thorough analysis of income sources, which may increase the waiting time for obtaining the necessary documents.

With the completion of this period, program participants have the opportunity to become green card holders, allowing them to legally reside in the United States as permanent residents.

What to pay attention to when applying for a visa

• Various types of virtual visas, such as EB-5, are exchanged for the opportunity to obtain permanent resident status in exchange for financial investments in economically significant projects.
• The minimum amount to participate in the program starts from800 thousand dollars, in addition to legal fees and lawyer costs.
• The waiting time for application review can take a significant amount of time, even up to two and a half years, due to the large number of documents already submitted.

Unique opportunities for investors

The EB-5 program offers wonderful opportunities for investors who are seriously looking to move to America and build their lives in this country.

International opportunities for obtaining visas and residencies

In different corners of the world, there are plenty of opportunities for obtaining visas and residencies, such as Grenada and Turkey, for example. However, it is important to note that Russia is not included in this list of possible countries. This opens up interesting horizons: having a passport from Grenada or Turkey can be a significant step towards obtaining an American E-2 business visa.

This visa grants holders the right not only to live in the USA but also to run their own business, engage in employment, and send their children to local educational institutions. Holders of this visa can freely leave the United States and have the opportunity to renew the visa without restrictions, provided that their business continues to generate income.

Other options for obtaining residency

There are other options available for obtaining residency in different countries. For example, in the USA, there is a long-term visa for investors and entrepreneurs under the E-2 program. In Cyprus, to obtain permanent residency, one must invest at least...300 thousand euros(plus VAT).

• Investments can include:
• Up to two properties in the primary market;
• Commercial real estate;
• Shares in Cypriot companies;
• Shares in collective investment funds.

The process of obtaining a residence permit

The process of obtaining a residence permit usually takesfrom two to three monthsThe program covers the whole family, including spouses and children up to25 yearsand parents. To obtain permanent residency, it is sufficient to invest in real estate from a developer with a minimum price starting from300 thousand euros(plus VAT).

Although Cyprus is classified as a "hostile country," there are legal ways to make payments for real estate purchases, and currently, there are almost no issues with bank transactions for these purposes.

Terms and conditions for obtaining the status

From the moment of application submission to receiving permanent resident status, it takes only two to three months. To apply, you do not need:

• interview process
• medical exams;
• language tests.

However, it is important to confirm the legality of the sources of funds used to purchase real estate. The status of a permanent resident is granted for a period of time.ten years.

Advantages of permanent residency in Cyprus

A permanent residence permit in Cyprus is particularly interesting for those planning to live on the island for an extended period, as it provides access to social infrastructure and the ability to open bank accounts. However, it does not allow for unrestricted movement across all European countries. Nevertheless, if you live in Cyprus for...seven yearsYou will have the opportunity to apply for citizenship.

Spain and the possibility of obtaining a residence permit

As for Spain, to obtain a residence permit, it is necessary to invest capital in real estate of at least500 thousand euros...as well as invest in Spanish companies or in national funds with a minimum amount starting from...1 million eurosor purchase government bonds for an amount starting from2 million euros.

The processing time is alsofrom two to three months...and the program may include spouses who are not married, dependents of the investor, as well as parents.

The "golden visa" program in Spain

The Spanish authorities continue to operate under the "golden visa" program, which allows foreign citizens, including Russians, to invest in real estate and thus become residents of the country.

The goal of the program

The main task is to arrange the payment for the purchase of real estate. The process of submitting documents for obtaining a residence permit is carried out directly in Spain. Although the entry threshold for the program is quite high, it offers many significant advantages. Investors have the opportunity to choose any real estate that can be used for subsequent rental. The residence permit status is granted to the entire family, opens doors to employment, and provides freedom of movement within the countries of the European Union.

Ways to invest

There are many ways to invest, but the most popular is investing in real estate, where the minimum amount starts at 280,000 euros in regions with low population density. In cases where the property was built more than 30 years ago or is located in an area subject to urban renewal, the minimum investment increases to 350,000 euros. When purchasing real estate in any other inland area of the country, the minimum amount must be at least 500,000 euros. Typically, the visa application process takes between six to nine months.

Who can participate?

The following can participate in the program:

• Spouses;
• Children under the age of eighteen.
• Unmarried children under 26 years old who are studying full-time;
• Parents who are 55 years old and are dependent.
• Brothers and sisters under eighteen years old.

Immigration Service of Portugal

It should be noted that the Immigration Service of Portugal (SEF) continues to accept applications from citizens of Russia and Belarus. If the applicant is not subject to sanctions and can confirm the legality of their income sources, the chances of their application being approved are quite high. However, due to reform initiatives, SEF has not reviewed new applications or made any decisions for over six months.

Restoration of SEF operation

The summer period of last year was marked by the resumption of SEF activities. As a result, all those who submitted documents in the summer of 2021 or earlier began receiving invitations to undergo biometric procedures. Investors who submitted applications in October and November 2021 were also hoping for decisions to be made by the New Year holidays.

Rights of status recipients

The status obtained through investment allows the investor and their family to move freely across European Union countries, as well as to live, study, and do business in Portugal. It is important to keep in mind that the residence permit needs to be renewed:

• The first time in two years;
• Then twice — every two years.

After fulfilling all the requirements, it is possible to submit documents for permanent residency, and after a year, one can apply for citizenship.

Financial independence programs

It is worth emphasizing that programs for obtaining residence permits related to financial independence continue to operate without delays. The procedure for processing such statuses has not changed throughout February, but participants may need more time to wait for appointments for submission and subsequent review of documents. This scheme does not require a mandatory investment threshold; the main requirement is to provide proof of the family's financial stability, which is confirmed by annual income from legal passive sources.

Conclusion

In conclusion, summarizing the discussion on the current situation with citizenship and residency programs, I realize how important it is for people looking to change their lives for the better to make the right choice. Programs like citizenship by investment in Turkey, Grenada, and Vanuatu offer numerous opportunities for those willing to invest in the real estate or economy of these countries.

Each option has its own features, including processing times and conditions that need to be considered when submitting applications.

Advantages of citizenship programs:

• Turkish citizenship:attractive conditions and the possibility of visa-free entry to more than 125 countries.
• Grenada and Vanuatu:access to international opportunities, including business visas to the USA.

Nevertheless, it is important to remember that each country has its own conditions and requirements that can significantly impact our final choice. For example, we need to consider not only financial aspects but also visa conditions, the real estate market, and the economic stability of a particular region.

Important points:

• The "golden visa" programs in Europe, such as those in Spain and Portugal, remain relevant for those seeking long-term opportunities.
• The growing demand for investment programs requires careful analysis and an understanding of the nuances.

In conclusion, I want to emphasize that choosing a program for obtaining citizenship or residency is not just an opportunity for an easy move, but an important step in the search for new life horizons. It is essential to carefully analyze the available options and make an informed decision that best aligns with your goals and desires.