Second Citizenship or Residency provides countless benefits and possibilities, this is why over the years, the trend for second citizenship or residency is becoming more and more popular. In order to keep our clients updated, Mann’s Solutions team has prepared the overview of upcoming 2021 citizenship and residency by investment programs.
According to the latest news, Kazakhstan is about to announce its new investor visa program. The investment requirement is expected to be around $100,000-$200,000 and investors will have 3 options for the investment: Funds listed on the Astana stock exchange, buying securities listed on the exchange or Real estate within the borders of the AIFC.
We expect that the program will be popular among entrepreneurs and investors from China, Central Asian region, Russian and Turks. One of the key benefits of the scheme is tax benefits, as tax within the AIFC is 0%. The AIFC investors will only be taxed on local income, with no worldwide taxation.
Kazakhstan Program will grant applicants with immediate permanent residence in Kazakhstan, with rights such as social security, retirement benefits and health insurance. At this stage, there are no details about citizenship by investment program.
KenInvest, country’s Investment Authority, recently indicated that the plans regarding Kenya Citizenship Program are now proceeding quickly. The Kenya Program will be launched with the aim to boost country’s economy and increase the amount of foreign direct investments.
At the moment there are no specific information about the program requirements, however it is known that the government will be looking to encourage business investments and pricing for the program might start at $200,000. Kenyan Passport permits visa-free travel to 71 destination worldwide, some of them include Europe, Canada, United Stated and Australia.
Egypt is set to offer a golden visa through a citizenship by investment program. In 2018, Egyptian parliament has already granted the issuing of residency permits for investors, the requirement is 7 million Egyptian pounds deposit (approximately $422,000). The new citizenship program is expected to allow the granting of citizenship to investors who purchase a property owned by the state or through establishing an investment project.
The country allows investors and their families to hold dual citizenship and it also will be extended to family members and dependents. Egyptian citizens will be able to travel visa-free or with visa on arrival to 50 countries and territories.
In November 2020, Russian government announced the plan to open residency program. According to draft legislation from the country’s Ministry of Economy, investors will be able to gain Russian residency in exchange for a minimum investment of 10 million rubles (which is approx. $130,000). The investment should be made into a Russian company and should create at least 10 jobs. We expect that there will be several other investment options and one of them will be real estate investment starting from $400,000.
The knowledge of the Russian language will also be required to obtain residency, but it is unclear at what level. The program is expected to come in place at the earliest from July 2021.
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Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).
For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at firstname.lastname@example.org or call +44 207 993 63 46.
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