The 2019 CBI Index: Programme profiles

The Antigua and Barbuda Citizenship by Investment Programme

The Antigua and Barbuda Citizenship by Investment Programme was established by the Antigua and Barbuda Citizenship by Investment Act, 2013. Antigua and Barbuda offers four investment alternatives for successful applicants.

The first alternative allows single applicants, as well as a family of up to four persons, to make a minimum contribution of $100,000 to the National Development Fund (NDF), a not-for-profit organisation created to run both public and private projects as well as charitable initiatives such as improving access to healthcare and education. This contribution threshold was proposed under a limited time offer scheduled to end on 31 October 2019.

The second alternative requires the applicant to make an investment of $400,000 or more into one of the Government’s approved real estate projects for a period of five years. From 1 May 2018 to until 31 October 2019, under a separate limited time offer, an applicant with no more than three additional family members may make a joint investment with a ‘related party,’ with both the applicant and the ‘related party’ making a minimum investment of $200,000. A ‘related party’ is one with the same Licenced Agent as the applicant.

The third alternative entails an investment of $1.5m into an eligible, Government-approved, business project. Applicants can apply as joint investors so long as each applicant makes a $400,000 minimum investment into a project worth at least $5m.

The final alternative, introduced in October 2018, applies to families of at least four persons who invest $150,000 into the University of the West Indies Fund. In addition to receiving citizenship, one member of the family will also be entitled to a one year, tuition-only scholarship.

Government and Due Diligence Fees apply for all alternatives to citizenship, with the former starting at $25,000 for any application of up to four persons applying under the NDF or the University of the West Indies Fund. Government Fees increase with the number of persons included in an application, and start at twice as high for applications under the real estate and business options. In all cases, ten per cent of the Government Fees are due upon submission of the application and are deemed non-refundable.

There continue to be delays in application processing by the Citizenship by Investment Unit, the Government body responsible for reviewing all applications under the Programme. Due diligence procedures are strict, with a May 2019 passport recall being ascribed to ensuring that all economic citizens hold e-passports. A number of nationalities are excluded outright from the application process.

Although there is no mandated interview or knowledge-based test, Antigua and Barbuda requires applicants to travel to the nation, or to an embassy or consulate, to sign an oath of allegiance. Furthermore, once awarded, citizenship is conditional on the applicant spending five days on Antiguan or Barbadian soil within five years of obtaining citizenship. This requirement is waived for children until after they reach the age of majority at 18.

In June 2017, Antigua and Barbuda lost visa-free access to Canada, one of its most significant selling points. Recently, however, additions have been made to the list of countries and territories to which citizens of Antigua and Barbuda may travel, such as the Republic of Kosovo and Russia. Antigua and Barbuda accepts dual nationality.

Citizenship by Investment in Austria

The particulars of Austria’s citizenship by investment procedures are not clearly codified in the laws of the nation. Rather, the scheme draws broad legitimacy from Article 10, Paragraph 6 of the 1985 Nationality Act, which gives leave to the Federal Government to grant citizenship where a person displays actual or expected outstanding achievements. The Federal Government may, by an order, lay down specific stipulations regarding the grant of nationality under Article 10, Paragraph 6. Its failure to fully do so has made the Austrian scheme one of the least transparent processes in the economic citizenship arena.

The outstanding achievement underlined in Austria’s laws can be economic and can cover those whose investments in Austria are sufficient to trigger the provision.

Exclusive and limited to those who can guarantee a positive attitude towards Austria, and who do not pose a danger to law and order, public safety, or other public interests, the scheme has operated intermittently, and only rarely are aspiring applicants successful. The scheme is also mindful of Austria’s – and the applicant’s – associations with other states, barring persons whose relations with foreign states would be detrimental to Austria, or who, upon becoming Austrian nationals, would damage the country’s international relations. A person is also barred given the existence of certain criminal convictions, immigration orders, and affiliations with extremism.

The two-year process involves filing the application in person (unless the applicant is incompetent to act) and significant communication with various Government representatives. Article 10(a)(2) exempts prospective economic citizens from having to demonstrate sufficient knowledge of the German language and basic knowledge of Austria’s history and democratic system. An applicant who lives outside of Austria must however travel to the relevant Austrian diplomatic or consular authority to give the oath of allegiance (with some exceptions for those who cannot reasonably be expected to appear to deliver the oath).

Although Austria generally disallows dual nationality, Article 10, Paragraph 6 applicants are permitted to retain their original citizenship, bringing the scheme in line with those of other jurisdictions offering economic citizenship. Benefits of Austrian citizenship include the right to live and work in any country in the European Economic Area (EEA) and Switzerland, as well as facilitated travel to the United States and Canada.

The Bulgarian Immigrant Investor Programme

The Bulgarian Immigrant Investor Programme (BGIIP) was created in 2009, and finds its legal basis in Article 25(1) of the Foreigners in the Republic of Bulgaria Act and Article 14(a) of the Citizenship Act. Designed as a quick route to citizenship via a period of nominal permanent residence in Bulgaria, the BGIIP does not require the investor to physically spend time in Bulgaria while waiting for citizenship to be issued. This feature makes the BGIIP one of a handful of European citizenship programmes where prior physical residence in the nation is not compulsory.

There are two investment options under the BGIIP, the first leading to citizenship in five years, the latter doing so in three. Under the first option, the applicant must make a BGN1m guaranteed investment in government bonds, whilst under the second option the applicant must make a BGN2m investment in government bonds or in a Bulgarian company. As of 2019, it is not possible for applicants to combine government bonds and company investments – they must choose between one type of investment or the other. Under both the BGN1m and the BGN2m routes, the investment must be retained for a period of five years, after which time it is returned to the investor without any interest that may have accrued.

Applications under the BGIIP are first submitted to a local Bulgarian consulate, which redirects them to the Ministry of Foreign Affairs and issues a first-stage visa for the applicant to enter Bulgaria and file for permanent residence. Thereafter, processing is conducted by the Ministry of Foreign Affairs. These entities do not test applicants on their knowledge of Bulgarian or of local culture. Beginning in 2019, applicants are requested to sit an interview when they submit their application.

The BGIIP is only available to non-EU nationals, who must make two formal trips to Bulgaria; once to file for permanent residence, and once to register permanent residence and receive the relevant identity documents. Permanent residence may be expected within six to nine months of submission, while citizenship rests on the option selected by the applicant.

In response to concern regarding due diligence, starting from 2019 Bulgaria demands criminal records both from an applicant’s home country and country of permanent residence. Further concerns led to an announcement that Bulgaria would end its BGIIP, but the announcement has yet to bring material changes to Bulgaria’s citizenship offering. 

The benefits of Bulgarian citizenship include free movement rights throughout all the member states of the European Union. Starting 1 December 2017, citizens of Bulgaria were granted the right to travel visa-free to Canada for up to six months, provided they obtain an Electronic Travel Authorization (eTA). Bulgaria has yet to join the Schengen Area, although it is taking steps towards membership. Dual citizenship is allowed.

Citizenship by Investment in Cambodia

As early as 1996, provisions were made in Cambodia’s Law on Nationality to allow foreigners to naturalise following an investment in the Kingdom. These were further outlined, in their most recent form, by Sub-decree 287 of 2013. On 11 June 2018, the Cambodian Senate approved a draft law aimed at modifying Cambodia’s economic citizenship landscape and, in particular, raising investment thresholds. The draft law, however, has yet to reach the final stages of approval.

Cambodia therefore continues to afford economic citizenship to persons who invest 1.25bn Cambodian riels into the nation. The investment must be approved either by the Cambodian Development Council or by the Royal Government. Citizenship is also available to those who donate 1bn Cambodian riels for the restoration and rebuilding of Cambodia’s economy.

Knowledge of Khmer history and language is required, and applicants must travel to Cambodia to obtain good behaviour, police, and health certificates, as well as to sign the relevant citizenship oath. Applicants who choose the investment option must register a residence in Cambodia at the time of the application, although they need not live there. This requirement is waived for applicants who choose to donate.

Applications are reviewed by the Ministry of the Interior, although citizenship may only be granted by the King by Royal Decree. The entire process can take between three and six months to complete, with some evidence that speedier processing may be possible.

Citizenship of Cambodia brings visa-free travel rights to around 50 countries and territories, the majority of which are located in Southeast Asia. As a member of ASEAN, Cambodia affords opportunities for facilitated trade and mobility among member states, including the right to work and live abroad for certain professionals. For those wishing to retain their citizenship of birth, Cambodia allows dual citizenship. Finally, as Khmer citizens, applicants may purchase real estate in the country – a privilege exclusive to Cambodians.

The Cyprus Investment Programme

Grounded in Section 111A of the Civil Registry Laws of 2002-2019, the Cyprus Investment Programme has undergone several alterations. In its original form, it required a €15m investment – a price that discouraged applicant participation. The rules for the current Programme, which is capped at 700 applicants per year, came into effect in May 2019.

Any Non-Cypriot can apply under the Programme, using personal, spousal, or corporate funds to make the necessary donations and investment(s). Such investment(s) must be made at most three years prior to applying and held for five years following citizenship.

Applicants must purchase real estate valued at €500,000 plus V.A.T. and declare that real estate as their permanent residence. They must then make two €75,000 donations – one to the Research and Innovation Foundation and one to the Cyprus Land Development Corporation. Applicants have some flexibility with regards to the first donation. For example, they can show alternative investments in a certified innovative or social enterprise. Finally, applicants must choose one of four €2m investment options.

The first and most popular option involves purchasing or constructing buildings, land development projects, or infrastructure. Applicants who select residential real estate need not spend the additional €500,000 to establish a permanent residence in Cyprus, so long as the chosen real estate had not previously been used in relation to Cypriot citizenship by investment.

The second option involves the purchase or establishment of, or participation in, a Cypriot company with significant activity and turnover, and employing at least five Cypriot or EU citizens. Shipping sector investments are eligible under this option.

The third option entails transferring moneys to Alternative Investment Funds (AIF) or Registered Alternative Investment Funds (RAIF) established and investing exclusively in Cyprus. The AIF or RAIF must be licensed, registered, and supervised by the Cyprus Securities and Exchange Commission (CySec). There are some limitations on the investments that selected AIF and RAIF can make.

The fourth option is a combination of any of the above.

Application and Naturalisation Certificate Issuing Fees apply, and are levied by the Ministry of Interior, which manages the Programme.

Cyprus’ six-month long due diligence checks integrate Schengen and other EU controls, as applicants must show a valid Schengen Visa and must not have been rejected for citizenship in other EU member states. Applicants’ EU assets must also not have been frozen as a result of sanctions.

Applicants must be resident permit holders for at least six months prior to obtaining citizenship. Permit applications can be made at the same time as citizenship applications and must be lodged in person with the Civil Registry and Migration Department, which records applicant biometrics. Travel to Cyprus is also required for applicants who are approved and take the Oath of Faith. Cyprus does not impose tests or the passing of formal interviews.

Citizenship of Cyprus triggers the right to live and work within the European Union, but it does not occasion membership of the Schengen Area. Citizens may avail themselves of visa-free travel to centres such as Canada and the United Arab Emirates, but not the United States. 

The Dominica Citizenship by Investment Programme

Dominica’s Citizenship by Investment Programme was launched in 1993 and is known for being one of the world’s most efficient and transparent options for economic citizenship. It plays a major role in promoting social and environmental causes, particularly sustainable development.

The Programme was reshaped by the Commonwealth of Dominica Citizenship by Investment Regulations, 2014 to include diverse investment options and even stricter regulation processes. The Programme’s most recent regulations, issued in August 2017, modified some investment thresholds and fees.

The Programme offers two investment opportunities: a one-time contribution into the Economic Diversification Fund (EDF), or an investment in Government-approved real estate. Funds transferred to the EDF have been instrumental in Dominica’s national development, particularly through the reconstruction of key infrastructure, sustainable housing, and the agricultural sector.

The EDF option requires a contribution of $100,000 for a single applicant – a value that increases as family members are added to an application. The real estate option requires an investment amounting to at least $200,000, to which a single applicant must add a $25,000 real estate Government Fee. The real estate must be held for a period of three years, which increases to five years if the future purchaser is also an applicant for citizenship by investment. Other applicable fees include Due Diligence and minor Processing and Certificate of Naturalisation Fees.

The Citizenship by Investment Unit is the Government authority tasked with managing and processing applications for economic citizenship. To qualify for Dominica’s Citizenship by Investment Programme, applicants must have a clean criminal record and prove they are of good character, as well as pass a series of due diligence checks including those regarding source of funds.

By regulation, the Unit must respond to an application within three months of its submission. Application processing is however often much faster, taking between 45 and 60 days. The Unit continues to maintain one of the fastest processing times in the citizenship by investment industry.

The application process in Dominica is straightforward, as there are no interview, travel, or residence requirements, either before or after attaining citizenship. Applicants also need not learn English, nor show a minimum level of education or business experience.

Benefits of citizenship of Dominica include visa-free travel to over 130 foreign destinations, dual citizenship, and the opportunity to experience a different, eco-friendly lifestyle.

The Grenada Citizenship by Investment Programme

Created in 2013 by the Grenada Citizenship by Investment Act, Grenada’s Citizenship by Investment Programme supports the nation’s renewable and sustainable development initiatives, and stimulates foreign investment to promote tourism, construction, agriculture, and manufacturing. The Grenada Programme has gained recognition and trust thanks to its due diligence processes.

The Grenada Citizenship by Investment Programme offers applicants two investment options. The first option is a contribution into the National Transformation Fund (NTF), a Government institution responsible for locating and financing alternative, economy-stimulating investments for the country. The second option is an investment in a Government-approved real estate project, which itself presents two choices. Applicants can invest $350,000 in any pre-approved project. Alternatively, they can jointly invest $220,000 in pre-approved tourism developments to which the developer has already committed 20 per cent of the total expected cost. All applicants who purchase real estate from previous economic citizens must hold their real estate for five years.

Applicants under either option are responsible for paying associated Application, Processing, and Due Diligence Fees. A single applicant must make a $150,000 minimum donation to the NTF, while families are responsible for making larger payments. Any application lodged by up to four family members requires payment of an additional $50,000 Government Fee where the real estate option is selected. Additional moneys are required, however, when parents or grandparents under the age of 55, or siblings, are included in an application.

Grenada is, as of May 2019, the only citizenship by investment jurisdiction to allow applicants’ siblings to be included in their application, so long as they are at least 18 years old and single with no children.

Application review has improved since last year, with the Citizenship by Investment Committee (CBIC) no longer experiencing 2018’s “prolonged delays,” and agents becoming familiar with the country’s updated application forms dating to March 2018. Grenada’s policies of not requiring an interview, business experience, proficiency in the English language, and travel or residence remain the same.

Grenadian citizenship can benefit successful applicants by providing them with options for global mobility, particularly to China, with which Grenada has an extradition treaty formalised in October 2018. Grenadian citizens are eligible to apply for the United States’ renewable E-2 visa. Dual nationality is allowed.

Citizenship by Investment in Jordan

Jordan announced the commencement of its economic citizenship programme in February 2018, finding legal basis in the provisions of the Jordanian Nationality Law, 1954 (No. 6 of 1954), and particularly in Article 13(2), which removes the residence requirement for persons whose naturalisation is in the public interest or who are ‘Arab’ – that is, persons whose father was of Arab origin and who are nationals of a member state of the League of Arab States. It is also possible, if less desirable, for persons to obtain citizenship under Article 5, although such persons must relinquish all other nationalities. No more than 500 persons are accepted for economic citizenship per year.

Applicants have five options. First, they can decide to invest $1m in Jordanian small and medium-sized enterprises, and hold that investment for a period of at least five years. Second, they can deposit $1.5m in a non-interest-bearing account at the Central Bank of Jordan, again for a period of at least five years. Third, they can invest in treasury bonds worth $1.5m, to be held for 10 years at an interest rate determined by the Central Bank of Jordan. Fourth, they can purchase securities from an active investment portfolio priced at $1.5m. Fifth, they can invest $2m in any project across the country, or $1.5m in projects that are located in Governorates outside of that of Amman, that create a minimum of 20 local jobs, and that remain active for no less than three years.

Applications for citizenship are lodged with the Jordan Investment Commission (JIC), an entity established in 2014 to succeed the Jordan Investment Board, which was first founded in 1995. The role of the JIC is to promote investment in Jordan and respond to emerging trends in the international and domestic economic environment. Successful applications must be approved by the Council of Ministers and the Monarch, in a process that takes around two months.

Naturalised Jordanians are barred from political or diplomatic positions, from any public office prescribed by the Council of Ministers, and from becoming members of the State Council for a period of 10 years from the grant of citizenship. They are also excluded from participation in municipal or village councils for a period of five years from obtaining citizenship.

Loss of citizenship for naturalised persons is considered whenever a person commits or attempts to commit an act to endanger Jordan’s peace and security, or when a person is found to have misrepresented evidence during the naturalisation process. Revocation of citizenship is also possible in certain instances where a person enters foreign military or civil service, or the service of an enemy state.

The Malta Individual Investor Programme

Malta’s Individual Investor Programme (IIP) is a strong contender on the European scene. Moulded in its current form by Legal Notice 47 of 2014 and its 2018 amendment, the IIP must not exceed 1,800 successful main applicants.

The IIP presents a single three-tier investment strategy for applicants interested in obtaining citizenship of Malta.

First, the applicant commits to making a €650,000 non-refundable contribution, of which €10,000 must be remitted as a non-refundable deposit upon submission of the application. Of the €650,000 contribution, four per cent is given to the IIP’s sole concessionaire and six per cent is delivered to the Malta Individual Investor Programme Agency, which has been processing applications since May 2018. Of the remainder, 70 per cent is distributed to the country’s National Development and Social Fund (NDSF) and 30 per cent is paid into the Consolidated Fund. There has been some concern, expressed by the International Monetary Fund in its September 2018 Technical Assistance Report, that this separation may lead to fragmented budgetary decisions, as the NDSF’s Board of Governors has discretion in allocating resources without Government or Parliamentary approval.

Second, the applicant either purchases real estate at a minimum value of €350,000 or rents property at a cost of at least €16,000 per annum.  Whether the applicant chooses to purchase or rent, the real estate must be held for a period of five years, during which time it may not be let or sublet.

To complete the investment portfolio, the applicant must also acquire government bonds, stocks, debentures, or special purpose vehicles for a value of €150,000, to be retained for a period of five years.

As well as completing the three-part investment, an applicant must also pay Due Diligence Fees and Bank Charges, and purchase global health insurance of at least €50,000 (to be prolonged indefinitely).

Under the IIP, citizenship is – at best – a one-year endeavour, as applicants must show 12 months’ residence on Malta. An e-residence card is issued to enable applicants to live on the island during this time.

Maltese citizenship does not come at the price of one’s previous nationality, as dual nationality was allowed in 2000. It brings a number of benefits including the right to live and work in the European Union and visa-free travel to Canada, the Schengen Area, and the US. Successful applicants under the IIP can expect their names to be published on Malta’s Gazette, and to be identified as recipients of Maltese citizenship, within 12 months of obtaining their citizenship.

The St Kitts and Nevis Citizenship by Investment Programme

Home to the world’s most longstanding economic citizenship programme, the Federation of St Kitts and Nevis has a 35-year history of leading the field of economic citizenship. Indeed, the St Kitts and Nevis Citizenship by Investment Programme has earned multiple awards and a reputation as the ‘platinum standard’ of citizenship by investment.

To qualify for economic citizenship, applicants are invited to invest in either the Sustainable Growth Fund (SGF), the Sugar Industry Diversification Foundation (SIDF), or pre-authorised real estate. Due Diligence Fees apply under all options, as do minor Processing and Certificate of Registration Fees.

The SGF is a relatively new and permanent feature of the Programme, having been established by regulation in March 2018. The SGF substituted the temporary Hurricane Relief Fund (HRF), whose establishment in 2017 resulted in elevated application numbers. Under the SGF, a single applicant must make a minimum donation of $150,000.

SIDF applicants who prefer to pursue St Kitts and Nevis’ traditional route to economic citizenship can continue to contribute a non-refundable sum of $250,000. Contributions are redirected to projects that facilitate the country’s transition from an economy specialised in sugar production, to one that offers a variety of services and products.

There are two branches to St Kitts and Nevis’ real estate option. Under the first branch, the applicant must buy property worth at least $400,000, and keep it for five years. Under the second branch, the applicant must make a joint investment with another applicant, with each investment worth at least $200,000. The investment must be retained for a period of seven years. A $35,000 real estate Government Fee is applicable for single applicants irrespective of the real estate branch they select.

The Citizenship by Investment Unit, which processes all applications for citizenship by investment, normally issues approvals or denials within three months, having dealt with the application build-up caused by the success of the HRF. A VIP Accelerated Application Process (AAP), available at a premium fee, allows applicants to receive their passport within 60 days of submitting their application. Currently, St Kitts and Nevis is the only citizenship by investment nation to offer a secure, fast-track route. There is no interview, language, education, or business requirement for any of the options chosen. Travel to the twin-islands is not obligatory, and no minimum residence stays apply either prior to or after citizenship is obtained.

Due diligence procedures remain among industry’s most robust and are expected to be further strengthened following new regulations focusing on fingerprinting and biometrics. 

Benefits of citizenship of St Kitts and Nevis include visa-free travel to a growing number of worldwide destinations – the highest of any citizenship by investment country in the Caribbean. Citizens are allowed to hold multiple nationalities.

The St Lucia Citizenship by Investment Programme

Inaugurated in January 2016, St Lucia’s Citizenship by Investment Programme is the Caribbean’s newest and most uncertain economic citizenship programme. There are concerns with respect to the real estate arm of the Programme, which has seen project cancellations and suspensions, and which currently only features one approved development. There are also continued claims by the St Lucia opposition party that legislative changes to the Programme “will be repealed upon a return to governance” and that transparency remains a concern. 

St Lucia has four investment options. The fastest option is a contribution to St Lucia’s National Economic Fund (NEF). Moneys deposited into the NEF are intended for progressive local development projects selected by the Minister of Finance with the approval of Parliament. Originally set at a $200,000 contribution, on 1 January 2017 the Government reduced the entry threshold to $100,000.

The second option under the Programme asks applicants to make a minimum investment of $300,000 into a Government-approved real estate project. To date, the Government has designated one real estate project for selection under this option, which, upon purchase, must be held for a period of five years.

Applicants may also acquire government bonds worth at least $500,000. The bonds must be held for five years and cannot return a rate of interest.

Under the Programme’s final option, applicants can make a minimum investment of $3.5m into a Government-approved enterprise project. Projects, which may be initiated by applicants themselves, can range from the building of a port to the establishment of a university, and must result in the creation of at least three permanent jobs. Applicants may partner with others to launch a joint venture, so long as a total minimum investment of $6m is made, with each investor contributing no less than $1m. At least six permanent jobs must be generated as a result of the joint venture.

Due Diligence Fees are always levied. Processing Fees apply under all options except for investments in real estate, while Administration Fees apply only to the real estate, government bond, and enterprise project options. The latter start at $30,000 for real estate investors, and at $50,000 for single applicants choosing the government bond or enterprise project routes.

Applications are processed by the Citizenship by Investment Unit and are returned with an approval or denial within three months of submission. There is no need for applicants to learn English, or to prove any business skills or education. Applicants also need not attend an interview, reside in St Lucia, or travel to the island.

Citizenship of St Lucia offers a viable alternative for anyone seeking a relaxing lifestyle and global access to around 145 countries and territories. St Lucia has no restrictions on holding dual nationality. New Regulations, gazetted in April 2019, provided for family members of applicants to be included in an application for economic citizenship even after the investor is granted citizenship, bringing St Lucia in line with other Caribbean nations offering citizenship by investment.

Citizenship by Investment in Turkey

Turkey’s economic citizenship programme was launched in January 2017. It finds its basis in Turkey’s Citizenship Law, Act No. 5901 and in Regulation 2016/9601, passed by the Council of Minister on 12 December 2016. Article 12 of the Act specifies that a person may obtain Turkish citizenship for “outstanding service in the social or economic arena” provided this creates no obstacle to “national security and public order.” Regulation 2016/9601 was amended by Regulation 2018/30540 and Presidential Decree 106, made on 18 September 2018 and gazetted a day later. It was further amended by Regulation 2018/418, made in December 2018.

Applicants interested in obtaining citizenship of Turkey may do so by choosing one of five routes. The first three routes each entail retention of the investment for a period of three years. They are: purchasing property valued at $250,000, depositing $500,000 in a Turkish bank, or investing $500,000 in government bonds. The applicant must ensure recognition of the investment by either the Ministry of Environment and Urbanisation, the Council of Bank Audit and Regulation, or the Ministry of Treasury and Finance, depending on the chosen investment. The remaining two routes to citizenship are an investment of $500,000 in fixed capital, to be acknowledged by the Ministry of Industry and Technology, or the creation of 50 jobs in Turkey, to be acknowledged by the Ministry of Family, Labour, and Social Security.

The application process can take several months – a result of the uptake in applications following the 2018 amendments. There is no requirement for applicants to learn Turkish or to attend a mandatory interview. There is also no requirement to establish residence by physical presence. However, the applicant will need to obtain an investor residence card.

There are no restrictions on an applicant’s country of origin, making the Turkish citizenship by investment route a popular option for those who are banned from partaking in the programmes of other nations.

While the ultimate decision on the grant of economic citizenship originally rested with the Council of Ministers, following the 2018 amendments it is now in the hands of Turkey’s President.

Turkey allows dual nationality and is considered a moderate country within the context of the Middle East. Despite various attempts at obtaining visa-free travel to the Schengen Area, including by the making of an agreement with the European Union on the flow of refugees, Turkish nationals must obtain visas to enter the Schengen member states. They must also apply for visas to Canada and the United States.

The Vanuatu Development Support Programme

The Pacific island of Vanuatu has two concurrent citizenship by investment programmes: the Development Support Programme (DSP) and the Vanuatu Contribution Programme (VCP). Until recently, the DSP had been limited in scope, offering honorary citizenship that reduced one’s ability to vote and partake in public life. This changed with the Citizenship (Amendment) Act (No. 34 of 2018). The DSP was further enhanced by the Citizenship (Development Support Programme) Regulations Order No. 33 of 2019, which improved the programme’s competitiveness, bringing applicant costs in line with the VCP whilst also enabling participation by Ni-Vanuatu designated agents with an office registered in Port Vila. The VCP, on the other hand, remains the purview of a single agent and its affiliated exclusive marketing agent, based in Hong Kong.

Applications under the DSP are processed by the Citizenship Office and Commission, an entity established under the Vanuatu Citizenship Act.

The minimum sale price for a single applicant under the DSP is $130,000, of which the Government retains $80,000. Due Diligence, Application, and Certificate Fees apply. Applicants must commit 25 per cent of this value prior to the application being considered, and in the knowledge that this amount would be lost should the applicant fail to pass scrutiny.

Applications are processed rapidly, although some slowdown is recorded as a result of the oath of allegiance procedure having to be completed in the physical presence of a Commissioner for Oaths prior to applicants receiving citizenship. Currently, a valid Commissioner for Oaths can be found in Vanuatu, Dubai, Hong Kong, and Singapore. Citizenship certificates may be received by a designated agent and do not require additional travelling.

Limitations also exist with respect to the applicant’s choice of designated agent, as applicants cannot decide to change their representative agent unless their application is progressing at an unreasonably slow pace, which is defined as in excess of six months. 

Applicants benefit from the Government not imposing a language test, which could otherwise require mastering of any of Vanuatu’s three official languages (English, French, and Bislama). Applicants also need not sit an interview, or study the culture or history of the island.

There is a close rapport between Vanuatu and China, something that made headlines in June 2019 when certain Chinese-born DSP citizens were repatriated allegedly without due process. Despite this, citizens of Vanuatu cannot access China visa-free. They can, however, travel without a visa to Hong Kong, Russia, the Schengen Area, and the United Kingdom.