Did you know that India is the world No.2 in migrations to the OECD countries? In 2018, 330,000 Indians migrated to OECD countries (Source: OECD data – International Migration Outlook 2020). Let us look two popular migration routes.
Residency by Investment and Citizenship by Investment are two unique terms and cannot be used interchangeably.
Residency by Investment has the following characteristics
- Residency by Investment allows a person and his/her family (in some residency programs) to legally reside in a country.
- The residency is usually for a specific period (usually for one to five years) and can be renewed on meeting certain conditions.
- Residency programs generally lead to permanent citizenship provided the residency conditions are met.
- The resident would need to pay his/her taxes and in some cases is eligible for the health and social benefits of the government.
- A residency card is not a valid form of identification for international travel; the resident must produce the Passport of the country he/she is a citizen of.
- Residency by investment programs comes at a much lower cost than Citizenship by Investment
- Some of the countries that offer residency by investment are Slovenia, Latvia, Estonia, Ireland, Belgium, Germany.
Citizenship by Investment has the following characteristics
- Citizenship-by-Investment programs offer people to legally acquire a new nationality/passport by investing in the host country.
- The investments are generally made in government bonds and/or government-approved real estate.
- It is the fastest way of gaining citizenship.
- Once the citizenship by investment is complete, the citizen will be eligible for all the benefits that a naturalized citizen enjoys.
- The program is a fast and easy way to gain a second passport.
- Some of the countries that offer Citizenship-by-Investment are UK, USA, Portugal, Greece, Malta, Spain, St. Lucia, St Kitts and Nevis, Antigua and Barbuda, Dominica, Cyprus, and Grenada.
The decision on whether to opt for a Residency-by-Investment or Citizenship-by-Investment depends on three factors
- The time one wishes to invest in gaining citizenship. Citizenship by way of Residency-by-Investment is long drawn; it may take years. Whereas through Citizenship-by-Investment one can become a citizen in a short period.
- The money that one has at their disposal. While Residency-by-Investment starts at as low as € 50,000, Citizenship-by-Investment may cost as high as € 2,000,000.
- The country one wishes to settle down in. Some countries only have Residency-by-Investment programs while some have Citizenship-by-Investment programs only. For instance, if a person wants to move to Slovenia, the only option is Residency-by-Investment.
Figure. Top 20 countries of origin of new immigrants to the OECD, 2017-18
Note: Migration flow series for Germany and Korea used for this figure do not include temporary migrants.
With the changing times and the need for better healthcare and education many Indians are emigrating out of the country for better lives. For more information on #residencybyinvestment and investment opportunities in the #EuropeanUnion and #slovenia in particular, please visit www.mrkintercon.com or mail us on email@example.com .