Indian citizens with high purchasing power and a certain social status are increasingly seeking a second passport by citizenship by investment for several reasons:
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Ease of doing business 2.
Indian businessmen and entrepreneurs are finding it increasingly difficult to do business in India due to very restrictive government regulations and an erratic business climate.
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Visa-free travel
A second passport holder can travel freely to at least 130 countries without having to go through the hassles of applying for a visa.
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Consequences of COVID-19
The global pandemic that started in 2020 and has not completely disappeared, paralyzed the Indian economy and the world economy in general, causing a large number of medium-sized companies to disappear.
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Inadequate healthcare system
The pandemic has exposed the shortcomings of the healthcare systems.
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Second largest population in the world
India has the second largest population in the world. This means that many of its citizens migrate to other countries in search of a better quality of life.
Reasons to obtain a new citizenship by investment
There are many reasons that may motivate a person to apply for a new residency or citizenship. Mainly:
Children’s education
Parents want the best education for their children. Citizenship in a European country allows the holder’s children not only to benefit from education in a European country, but also from reduced university fees. Admissions to university campuses do not discriminate against foreign students.
Quality of life
Holders of a second passport can enjoy the high standard of living offered by developed countries.
Business expansion
Second passport holders can travel freely and without a visa to expand their business, collaborate with foreign entrepreneurs, form alliances with different countries and have an exchange of technology.
Tax advantages
India’s non-resident Indian program allows non-resident Indians (NRIs) to benefit from certain tax advantages. This applies in particular to Indians who hold a second passport and do business in India outside the country.
Visa-free travel
Holders can travel visa-free to some 130 countries around the world, depending on the citizenship they apply for.
Other personal reasons
- Holders can reunite with their family members living abroad.
- Wealth management and portfolio diversification is made easier and hassle-free.
- Political and/or economic instability
Best citizenship by investment programs
Golden Visa Greece
The Greek Golden Visa is one of the most popular investment residency programs in Europe. It requires a minimum investment of 250,000 euros in real estate, making it the most economical investment option. Family members under 21 years of age and dependent parents and in-laws are included in the application. In addition, holders can travel without a visa within the Schengen area and residence in the country is not required to benefit from all the advantages of the program.
Greece offers a good quality of life, a temperate climate, and a cuisine rated as the healthiest in the world. It enjoys the lowest schooling rates in Europe and its residents have free access to the Greek healthcare system.
Golden Visa Portugal
The Golden Visa Portugal is one of the most sought-after residence visas for investment. It requires a minimum investment of 500,000 euros in real estate or capital investments, this amount being reduced depending on the areas and the type of property in which it is invested. Allows visa-free travel within the European Union and includes children and parents in the program.
Portugal requires a minimum stay of 14 days in periods of 2 years, and allows to apply for Portuguese citizenship after 5 years of possession of the residence permit for investment.
It allows the holder and family members included in the application to live, work and study in Portugal, and therefore access to one of the most prestigious educational systems in Europe.
Golden Visa Spain
The Golden Visa Spain is the most complete option within the investment residency programs.
The Golden Visa Spain is ideal for those who want to live full time in Spain or for those who want to maintain a second residence in Europe without having to naturalize. The Golden Visa Spain requires a minimum investment of 500,000 euros in real estate and allows the spouse, minor children and financially dependent children and parents to apply. The Golden Visa Spain does not require effective residence in the country, only to maintain the investment made. At the fifth year of the residence permit, the applicant may apply for permanent residence and at the tenth year of effective residence, the applicant may apply for permanent residence.
Other countries
There are also other faster ways to obtain a second passport. These are the passports of countries such as St Lucia, Dominica, Grenada, St Kitts & Nevis and Antigua & Barbuda. Let the Orience team advise you to study your case and assess which program would best suit your needs.