Will the COVID-19/Crisis Make RCBI (Residency & Citizenship by investment) Real Estate More Attractive?
Residency & Citizenship – The coronavirus has unpredictably changed the world we live in over a short period of time. Under lockdown conditions that prevail around the globe, family safety has become one of our major concerns. Generally speaking, having a second passport is a good way to address that concern. Not only will it bring you the chance to reside in a safer country, but it also presents smart property investment opportunities. In fact, citizenship by investment real estate now looks more lucrative than ever before to those waiting to go to a safer place in the world after this pandemic is over.
There are only a small number of countries in the world that offer citizenship by investment (CBI) programs. Consequently, many of these countries fall within a group called ‘Caribbean Cradle’. This region is a popular choice for those wanting to invest in property in other countries with the aim of gaining citizenship. For this reason, property investment would be a good option, plus the weather is rather pleasant as well.
Furthermore, in the European Union, there is also a relatively large collection of countries that offer citizenship by investment real estate, famous as the golden visa scheme. Since the program started in October 2012, billions of euros have been invested in the European economy. In return, investors get the freedom to live, travel and work anywhere within the European Union.
Countries that belong to these schemes include Portugal, Cyprus, Spain, and Ireland. It is known as golden because many investors turn to those countries for investment and business. As a result, it can be a worthy consideration if you want to give your family political, economic and social independence. A factor that will most certainly play a role could be the number of infections in these countries as well. Ireland appears to have the lowest infection rate, which means they are best equipped for fast recovery, making it an ideal destination in Europe.
In a recent interview Mr. Ahsan Khaliq, CEO of Saad Ahsan Immigration law firm stated that “a second passport is often seen as a way to buy property with lower tax burdens.” As an expert in immigration law, especially in citizenship by investment programs also thinks that owning a second property in one of these countries affords their owners with better travel opportunities as well. “Not to mention that status symbol”, Mr. Ahsan Khaliq told us, it is also a way to get “elite residency” equivalent to buying a very expensive car or a yacht for the very elite.
Getting Residency & Citizenship Will Be Bore Demanding Than Ever
When asked whether he is concerned about the lockdown situation in several countries around the globe as well as essential travel restrictions to curb the spread of the coronavirus, the CEO told us that “this is an important time to consider investments in other countries.” We must remember that investing into residency & citizenship by investment real estate can fortunately also be done remotely, without any need to travel.
All things considered; this is possible in the countries in Europe that grant investors the opportunity to invest in real estate without the requirement for them to reside there physically. These programs are ideal (not to mention popular) for entrepreneurs, international businesses and individuals who want the opportunity to spread money across a global economy. Countries, where it is possible to own property without residing there physically, include St Lucia, Dominica and Antigua & Barbuda. It is more important now than ever to mitigate the economic risks of countries hugely affected by the spread of the coronavirus pandemic. Additionally, even though second passport holders do not officially have to stay in these countries, they will have the option to immigrate thereafter this international health crisis is over.
In short conclusion, its worse time. On the whole, the repercussions of this international health issue are not yet established. In the event where the impact is severe, those who make plans and are prepare in the most fortunate position to secure the safety of their families. Contact the experts at our immigration law firm in order to qualify for a personal assessment. To do so, would be a smart investment in real estate as well in your future health.