Citizenships

Citizenship by Investment or CBI as its commonly known, are government programs aimed at attracting foreign direct investment into the country by providing citizenship in exchange for an investment.

CLD Corporate Services Ltd has partnered with service providers in two of the most important jurisdiction for obtaining Citizenship by Investment: Dominica and St. Kitts. 

Why would you need second citizenship?

  • Freedom of Movement
  • Ease of Travel
  • Plan B with Second Citizenship
  • Economic Stability
  • Business Opportunities
  • Physical Safety
  • Child Education through Second Citizenship
  • Family Legacy with Second Citizenship
  • Tax Efficiency with Second Citizenship
  • Relocation Services in Europe
  • Status Symbol

DOMINICA CBI PROGRAM

A volcanically active island located in the lesser Antilles, Dominica is aptly known as the “Nature Isle of the Caribbean”.

This island is one of the most beautiful in the world and is largely covered by thick rainforests and spots with hot sulfur springs.

CITIZENSHIP ON THE NATURE ISLAND

Created as a stimulus for domestic economic growth in 1993, Dominica citizenship by investment is one of the most affordable legal programs available to the global community. Here some of the advantages:

Second Passport and Dominica Citizenship for life.

Dominica offers a second passport and citizenship for life for the main applicant, applicant’s spouse and dependent children (if any).

Dual Citizenship.

Dual citizenship is permitted and there is no residency requirement. It is necessary to visit Dominica once to attend the interview with a committee appointed by the Prime Minister in order to get your second passport. However, once citizenship is granted you have the option of living and working in Dominica for the rest of your life.

Granting of Dominica Citizenship.

If you submitted all documents (i.e. application forms and all supporting documents, etc.), passed all necessary procedures (like due — diligence) and the interview with the committee was successful, as a rule, you can expect to receive your Certificate of Naturalization and Passport within the next 30 days. The Minister of Immigration and Labour will personally sign the Certificate of Naturalization authenticating you as a citizen of the Commonwealth of Dominica.

Dominica Passport Validity.

The validity of passports in Dominica is ten (10) years and five (5) years for persons under the age of

  1. A passport which has expired or which has no further space for visas must be replaced with a the new one at the nominal cost of USD 45.

Visa-Free Travel.

Travel visa-free to more than one hundred (100) countries including Great Britain, Hong Kong, Liechtenstein, Ireland, South Korea, Switzerland, and the Schengen States.

Tax Free Status.

Second passport and Dominica citizenship is the key to preserving your wealth. There are no capital gains, gift, and inheritance taxes in Dominica. If you have income coming in from outside of Dominica you do not pay income tax on this income.

Security.

Protection of bank accounts, real estate, and businesses, both abroad and within your own country.

Confidentiality.

The Government of Dominica does not inform the country of your current citizenship or residency about your second or third citizenship.

Residential permit.

A residential permit for persons wishing to reside in Monaco, Switzerland, Andorra, United Kingdom, Bermuda, Cayman Islands, Bahamas, and other Caribbean countries is easier to obtain by Dominican citizens, based on relations with these countries.

Explore the advantages of Dominica Citizenship by Investment Program and Dominica passport. Our partner is an official Government agent for the Dominica Economic Citizenship Program and has processed more economic citizenship applications in Dominica, since 1997, than anybody else. 

Our terms and conditions, cost, and payment options for economic citizenship in the Commonwealth of Dominica are fully explained below.

Dominica is the cheapest legal Citizenship by Investment program in the world. Overall ALL-INCLUSIVE investment costs are as follows for the Government Contribution option:

  • Total final costs for a Single application will be USD 124, 000
  • Total final costs for a Couple applications will be USD 208,000
  • Total final costs for a Family application with up to 2 children will be USD 246,000

Economic Contribution Option

By this option, the amounts listed in the schedule below go towards an investment fund for areas such as education, road works, construction of schools and health facilities, public sector computerization programs, and funding for certain private-sector initiatives.

Economic contribution in Table 1 below refers to the total amount, which must be contributed based on whether the application is submitted by:

  • A main/single applicant
  • The main applicant as head of a household, plus if he:
  • Has a spouse and children
  • Only has a spouse
  • Does not have a spouse but has children or dependents

Table 1. Economic Contribution Schedule

APPLICANT GROUPING

ECONOMIC CONTRIBUTION

Single Applicant Option

USD 100,000 (non-refundable)

Family Application One (Applicant and spouse)

USD 175,000 (non-refundable)

Family Application Two (Applicant, spouse and 2 children below 18 years of age)

USD 200,000 (non-refundable)

Family Application Three (Applicant plus more than 2 children below 18 years)

USD 200,000, and USD 25,000 for each additional person 18 years and older

Citizenship by Investment in Dominica through Real Estate Option

Under statutory provisions, which took effect on January 1, 2014, for the Dominica Economic Citizenship Program (Dominica Citizenship-by-Investment), applications can now be submitted via an approved Real Estate Investment option.

This real estate route is an alternative to the economic contribution, which was the only option available to applicants from the inception of the program.

Real estate contribution in Table 2 below refers to the total amount, which must be contributed based on whether the application is submitted by:

  • A main/single applicant
  • The main applicant as head of household, plus if he:
  • Has a spouse and dependents (children until the age of 28 and parents 55 years old and older)
  • Only has a spouse

The minimum amount that a real estate project must be valued in order for applicants to be eligible to apply under this option is USD 200,000.

Investment in the Real Estate Project allows the whole family to apply. Mandatory 3 years holding period applied under this option with no right for a new purchaser to be eligible for Dominica citizenship and 5 years' time for new purchasers to be eligible to apply for citizenship.

The overall investment amount depends on the number of applicants. Real Estate government contribution schedule for the Real Estate option provided in Table 2 .

Table 2. Real Estate Contribution Schedule

APPLICANT GROUPING

ECONOMIC GOVERNMENT CONTRIBUTION

1.

Main Applicant

USD 25,000 (non-refundable)

2.

Family of 4 including main applicant

USD 35,000 (non-refundable)

3.

Family of 6 including main applicant

USD 50,000 (non-refundable)

4.

Family of 8 including main applicant

USD 70,000 (non-refundable)

1. Each qualified dependant of main applicant below 18 years old

USD 20,000 (non-refundable)

2. Each qualified dependant of main applicant above 18 years old (not spouse)

USD 25,000 (non-refundable)

Dependants include:

  • A child of the main applicant or his or her spouse between 18 and 28 years, who is in full-time attendance at a recognized institution of Higher Learning and is fully supported by the main applicant;
  • An unmarried daughter of the main applicant under 28 years of age and is living with and fully supported by the main applicant
  • A physically or mentally challenged child of spouse or applicant, above 18 fully supported by the applicant
  • Parents or grandparents of the main applicant or spouse who are above 55, living with and fully supported by the main applicant.

Other Fees

(Agent administrative, legal, processing, and professional)

  • US $15,000 for a single applicant (non-refundable, payable in advance)
  • US $20,000 for a couple (non-refundable, payable in advance)
  • US $25,000 for a family (non-refundable, payable in advance)

Due Diligence

  • USD 7,500 – Main Applicant
  • USD 4,000 – Spouse
  • USD 4,000 – Dependant aged 16 years and above

Government Processing Fee – USD 1,000

  • Payable along with Due Diligence Fee
  • Will be paid directly to Government, wire instructions will be given

Naturalization and Stamp Fees – USD 250

  • Payable together with Investment fee directly to Government

Real estate option only: transfer and legal costs – between USD 4,500 and USD 10,000

  • Payable to Developer together with Investment fees
  • Vary on the Real Estate Project and represent costs for transfer of Title in case of purchasing of a property or Share Registration fee when purchasing a share






ST. KITTS CBI PROGRAM

The smallest sovereign state in the Americas located in the Leeward Islands of the West Indies, the Federation unites the islands of St. Kitts and Nevis, although both islands maintain certain independent regulation. The English-speaking islands remain under-developed by caribbean standards; tourism, the principal economy of the islands, has been growing steadily bringing with it new hotel and resort developments. Both islands have international airports and are connected by two ferry lines. The islands are very naturally diverse, with extensive flora and fauna; it is estimated that St. Kitts & Nevis currently has a larger vervet monkey population than humans.

THE LONGEST-STANDING CITIZENSHIP PROGRAMME

The Federation of St. Christopher and Nevis, also known as St. Kitts and Nevis, has the longest-standing (established in 1984) citizenship by investment initiative in the world.

  • A St. Kitts & Nevis Passport allows visa-free travel to more than 150+ countries, including all European Union countries, the United Kingdom, Ireland, Caribbean, and Commonwealth nations. Citizens can often acquire long-term travel visas to the United States of America.
  • The island federation imposes no residency requirement and no income, wealth, or inheritance taxes.
  • There is no requirement to visit St. Kitts & Nevis in order to qualify for citizenship, all applicants are subject to a strict background check.
  • The granting of citizenship is at the sole discretion of the government; there is no guarantee that the applicant will be approved.

DONATION OPTION

OFFICIAL ENTITY: sugar industry Diversification fund (SIDF)


DONATION AMOUNT

INVESTOR ONLY: US$250,000

ONE INVESTOR + SPOUSE: US$300,000 Investor + up to 3 dependents

INVESTOR + SPOUSE +2 KIDS:

US$350,000 Investor + up to 5 dependents

US$450,000 Investor + up to 7 dependents



REAL ESTATE OPTION

INVESTMENT MINIMUM: US$400,000

REAL ESTATE HOLDING PERIOD: 45YRS

LEGAL & ESCROW: 1%


GOVERNMENT PROCESSING FEES

INVESTOR: US$50,000

SPOUSE: US$25,000

DEPENDENTS: Age < 18 US$25,000 per

Age 18-25 US$50,000 per



Residences

Residency or second residence, as is more commonly known, are programs that Countries establish in order to attract investment, talent, and of course, people looking to retire or simply live in. So, it really depends on the circumstances. Perhaps you are looking for second citizenship? (some programs allow that goal after some years) or maybe you wish to live in another country? Maybe your current job expatriates you? Maybe you are looking for tax benefits? There may be other reasons you want to move out of your current country of residence, but whatever the reason, make sure you do your research!

At CLD Corporate we have helped hundreds of clients obtain their residency in Panama and now we are also helping clients to obtain legal residence in Portugal, Costa Rica, and other countries. 

As we cannot pretend to know every law or have a solution for every single situation, we have established a network of partners that we work with for many years, therefore you can rest assured that whatever the reason you have to reside in another country, the process will be handled professionally.

RESIDENCY IN PANAMA

We provide you with a range of legal support services designed to assist you on all matters related to your retirement or investment in Panama. All the legal services are rendered by our legal staff, all duly licensed to practice in the Republic of Panama, so you can rest assured that you will be attended by professionals.

Through our collaborators and strategic alliances we will help you to secure a home, life, and medical insurance, bank accounts, and just about everything you need to set up your stay in Panama, either temporary or permanent.

There are various types of visas offered by the Panamanian Government to the foreign national, however, we only list those that are directed to the foreign national looking to retire and/or invest in the Republic of Panama:

Friendly Nations Visa

This particular Visa is very popular these days and it provides for Permanent Residence in Panama for citizens of countries that have Friendly ties to Panama.

List of 50 Friendly Nations for Panama Visa

  1. Andorra
  2. Argentina
  3. Australia
  4. Austria
  5. Belgium
  6. Brazil
  7. Canada
  8. Chile
  9. Costa Rica
  10. Croatia
  11. Cyprus
  12. Czech Republic
  13. Denmark
  14. Estonia
  15. Finland
  16. France
  17. Germany
  18. Great Britain
  19. Greece
  20. Hong Kong
  21. Hungary
  22. Ireland
  23. Israel
  24. Japan
  25. Latvia
  26. Liechtenstein
  27. Lithuania
  28. Luxembourg
  29. Malta
  30. Mexico
  31. Monaco
  32. Montenegro
  33. Netherlands
  34. New Zealand
  35. Norway
  36. Paraguay
  37. Poland
  38. Portugal
  39. Republic of Korea
  40. San Marino
  41. Serbia
  42. Singapore
  43. Slovakia
  44. South Africa
  45. Spain
  46. Sweden
  47. Switzerland
  48. Taiwan
  49. Uruguay
  50. USA

With the Friendly Nations Visa, there is nothing to invest midterm or long term, you just need to create a company in Panama where you will be the Shareholder (this detail is completely private and confidential) and claim that it will be used for professional services in Panama and further open a bank account in your name. This bank account would have to be funded with a minimum of $5,000.00. If there are dependents (spouse and children under 18 or up to 25 if still studying) that will apply with the main applicant, then $2,000.00 per dependent shall be added.

Pensioned Programme

If you currently receive a pension from a foreign government or private company of US$1,000.00 per month this is the right visa for you!. If you want to include your spouse and children under your visa application add US$100 per person. If your lifetime pension income is less than US$1,000 per month, but equal to or more than US$750 per month, you may purchase any Panama real estate property with a value of at least US$100,000, which reduces the lifetime monthly pension income requirement down to a minimum of US$750. We must point out that this visa does not grant you the possibility to apply for Panamanian citizenship.

This type of Visa allows the retiree the following benefits:

  1. A one time US$10,000 exemption on the import of items for domestic or personal use;
  2. Every two (2) years you can import a car for personal or family use without paying import taxes;
  3. Exemption on the payment of any deposit or migratory fee related to the obtainment of the Pensionado Visa or Pensioned Programme;
  4. Discounts on everything from entertainment to medical bills.

Self Economic Solvency Visa

This type of Visa offers three options to secure residence status in Panama.

The first option is to open a term deposit of US$300,000 with any Bank located in the Republic of Panama for a term of three (3) years. If the applicant has dependents, the applicant needs to invest an additional Two Thousand US Dollars (US$2,000) for each dependent. The deposit must be unencumbered or free of liens. We will help you secure such a term deposit with any of the Banks we usually do business with or with the Bank of your choosing.

The second option is to invest in titled Panama real estate for a minimum of US$300,000. If the applicant has dependents, the applicant needs to invest an additional Two Thousand US Dollars (US$2,000) for each dependent. The property cannot be mortgaged and the title can be placed under the name of a Private Foundation, always that the main applicant is the founder or beneficiary of the Foundation.

The third option is to do a combination of options 1 and 2.

Provisional residence status is granted for one (1) year in the meantime the application is being processed. Usually,the permanent residence is granted after 4-6 months.

Retired Incomer (Second Passport)

This particular visa is directed to those individuals that are interested in securing a second passport, either for safety reasons or just to hold the passport of a friendly visa country. The applicant must make a term deposit for five (5) years at the Banco Nacional de Panama that yields in the monthly interest the amount of US$750. The advantages of securing this type of visa are:

    • You obtain a second passport. We must stress that this passport does not grant you the Panamanian Nationality nor residence status;
    • Every two (2) years you can import a car for personal or family use without paying import taxes;

The Visas listed above are the most popular, however, Panama offers a wide variety of Visas for citizens that may not qualify for any of the above, but mostly directed to citizens that are going to set up a business in Panama or are going to work at a Multinational company or are under other category or have other interests.

 

PORTUGUESE GOLDEN VISA

In 2012 the Portuguese Government created a residence permit for investments purposes, which enables non-European citizens to get a temporary authorization to conduct business activities with visa waiver to enter into Portuguese territory. This kind residence permit is widely known as Golden Visa or Gold Visa. Basically, the applicant makes one of the investments foreseen in the law, and it will be entitled to live in Portugal.

The holder of this kind of residence permit (Golden Visa):

  • Doesn´t need a residence visa to enter into Portugal, avoiding the bureaucracy of the Portuguese Consulates. The Foreigner citizen can enter in Portugal with a Schengen Visa/Tourist Visa and apply for the residence permit within the following 90 days of its entry date;
  • Will be allowed by the Portuguese Government to live and work in Portugal. But please note with this kind of residence permit is not really necessary to live in fact in Portugal: the residence permit holder only has to stay in Portugal for a period of seven days in the first year, and fourteen days each two years;
  • Visa exemption to travel within the Schengen Area;
  • Family reunification, which it can be requested at the same time the investor/applicant applies for his residence permit;
  • Will be in conditions to apply for permanent residence, after five years, if the other legal requirements are fulfilled;
  • Applying for Portuguese citizenship, after five years, if the other legal requirements are fulfilled.

The applicant can make one of the following investments, and simultaneously applying for his family reunification:

  1. Capital transfer of an amount equal to or above €1.000.000,00 (one million euros), to be invested in financial investments in Portugal. The Applicant must prove the investment on the amount required, individually or through a limited liability company of which the Applicant is the only shareholder, by showing evidence of an international and effective transfer, according to the type of investment. Basically, it has to be proved the funds belong to the Applicant, so it is very important when the money is transferred to Portugal, should be transferred from a bank account having the applicant as the holder.
  1. Real estate when the price of the property is equal or higher than €500.000,00;
  1. Real estate when the investment in the acquisition and renovation of the property is equal or higher than €350.000,00, if the building had been constructed more than 30 years ago or if the property is located in an area of urban rehabilitation;

When the property is located in territory classified as low population density, the minimum amount of investment could be reduced by 20% (€280.000,00).

  1. Investment funds or venture capital funds, in the amount of €350.000,00. The investment has to meet the following legal requirements: (i) fund registered under the Portuguese law; (ii) minimum capital transfer of €350.000,00; (iii)

Investment’s maturity of at least 5 years; (iv) 60% of the fund investments should be made in Portuguese companies with registered offices in Portugal.