Impact of COVID-19 Outbreak on Future of Citizenship by Investment
The world pandemic of the Corona Virus has affected everyone around the world. There is not a single region worldwide where economic instability has not happened as a result of the Corona outbreak. Countries with the strongest economies are suffering to some extent as well. Such uncalled events always affect the overall wellbeing of the human race. But also gives every individual an opportunity to think bigger for their family’s future. The improvement in interconnectivity among the countries helps to sustain the world economy. Initially, it was hard for governments to deal with this sudden corona outbreak. They were concerned about the future of Citizenship by Investment Programs. No one was ready for such a huge and uninvited change. But with time, countries came up with survival strategies and changed the dimensions of world trading.
Why People still go for a second passport?
A second passport or dual citizenship is one of the best ways to keep a solid backup plan in any case of an economic or political crisis. Moreover, a second passport gives you an opportunity to build a business anywhere in the world. You can start a new life with your family if any sudden climate occurs in the currently exiting country. Elites have resources and during the COVID outbreak, they realized how important it is to have a second passport to avail the best healthcare system.
While many countries had to keep a hold on their Citizenship by Investment programs, there are countries that kept doing their work efficiently and improving the future of Citizenship by Investment in their region.
Cyprus has one of the most effective CBI programs. A recorded surge of 75% has been estimated in the application for Cypriot Second Passport amid COVID-19. Cyprus has made some changes in its policies regarding citizenship by investment to make the program processing easy for the applicants. This way, a huge increase has been experienced by the government of Cyprus in citizenship by investment applications.
St. Kitts & Nevis
The two Islands country offers the best investment options under their CBI Program. It is one of the oldest and most reputable Second Passport. It offers multiple investments and donation options and Forbes has ranked St. Kitts & Nevis as one of the most demanding 2nd passports during the COVID outbreak because of its repute and affordability.
Dominica was ranked as the No.1 country for its citizenship by investment program in 2019 by The Times, London. The government of Dominica had some strict restrictions regarding dependents which they ended up keeping the passport demand in the record. Now siblings and grandparents of the main applicant and the spouse are also included as dependents with a very affordable addition to the main application. This huge change in Dominican second passport policy is attracting more and more applicants to apply for citizenship.
Saint Lucia is a beautiful land with rich nature and clear blue skies. It has this limited time offer for the coming year to offer citizenship for $150,000 for a family of four. This limited-time offer has increased the interest of investors to gain a second passport for Saint Lucia.
Antigua & Barbuda
To meet the demands of a competitive market, Antigua & Barbuda has introduced a new investment option to make a donation at The University of West Indies Fund. With this offer, one of the family members is eligible to continue studying on scholarship in the same university. This university is ranked as one of the best educational institutes in the region.
COVID-19 has a negative impact on most of the business industry but it has affected citizenship by investment program in a very positive manner. People are now more inclined towards getting a dual citizenship because most of the countries have made the application process online. The process has become electronic and it is very easy for investors to submit their documents on web portals instead of visiting the offices frequently for a follow-up.
Ease in Due Diligence Process to Improve the Future of Citizenship by Investment
The citizenship application process has so many steps and the most important one is diligence checks on which whole application is based on. Moreover, the process has become easier to secure the future of Citizenship by Investment. The application can be rejected if any of the document is missing, this one step is lengthy. But during this corona outbreak, only five main documents required to clear the diligence process which includes:
- Copy of your Passport
- Birth Certificate
- Copy of your National Identity Card
- Residency proof such as electricity or Gas Bills
- A certificate of Marriage or Divorce
How we are playing a role to secure the future of Citizenship by Investment?
Saad Ahsan Immigration Law Firm is one of the leading companies. We provide citizenship by Investment to many countries including UK, European, and Caribbean regions for years now. Saad Ahsan has processed multiple applications even during this COVID-19 outbreak and get approval as the company’s reputation plays a great role in getting approval from government bodies.
We take complete responsibility from the submission of the first application to final approval. We guarantee a successful process to provide you a second passport.