In an increasingly global world, people have begun to see themselves less as national citizens and more as global ones. Borders and barriers are evolving, and the ability to live, work, and travel in different countries is something many of us now aspire to. Many individuals, predominantly in business, are opting for citizenship by investment (CBI) or permanent residency by investment (RBI) in various countries around the world. In the uncertain age of COVID-19, many governments have recognized the importance of flexibility and have adapted their requirements for CBI and RBI, launching online portals and websites.
These new rules, according to Bashar Daoud, Managing Partner of Bluemina Citizenship & Residency, a firm that has proved an ideal advisor for CBI and RBI seekers in many countries worldwide, “[allow] investors to electronically submit their required documents through government-approved and authorized companies such as ours.” He added, “They are making it easier for businessmen and investors because they realize that COVID-19 has shifted what people are looking for from such programs. It is no longer only about the life you aspire to; it is also about having safety and health care.”
Now, as always, there are many reasons to invest in a second citizenship or permanent residency: dual citizenship (offering more flexibility), economic and political stability, high living standards, vast opportunities for development and growth, and beneficial tax laws. People now seek safe environments to set up and grow their businesses while living comfortably. Several European countries are proving to be very attractive for such endeavors. One example is Malta. According to Bluemina, in 2020 thousands of businessmen and their families obtained RBI in Malta, including an increase of 35% in the percentage of UAE expats seeking such opportunities in Europe. Other countries that offer similar programs include Portugal and Greece.
These nations offer ideal investment avenues for citizenship and permanent residency in Europe through a variety of schemes and programs; among the best of these are Malta’s RBI program and Greece and Portugal’s Golden Visa programs. According to Daoud, “The Golden Visa, for instance, is an important document for residency across the European countries.