Applying For Citizenship By Investment As An Indian National

Citizenship by investment (CBI) programmes have surged in popularity amongst affluent individuals across the globe. These programmes present a phenomenal opportunity for investors to diversify their portfolio, secure their financial future and enjoy a range of benefits that are typically limited to citizens of those countries.

CBI schemes generally offer increased global mobility, access to world-class healthcare and education facilities, flexible tax regimes, and an enhanced quality of life. They often also provide the luxury of a safe haven, which can be particularly appealing for those residing in regions prone to economic or political instability. It's therefore no surprise that these programmes have emerged as a favoured investment strategy for wealthy individuals seeking to expand their horizons beyond their home countries.

As of 2023, Indian citizens can apply for citizenship by investing in many countries. These include:

• Antigua and Barbuda
• Dominica
• Egypt
• Grenada
• Jordan
• Malta
• North Macedonia
• St. Kitts and Nevis
• St. Lucia
• Türkiye

Each of these countries offer differing benefits and have different requirements. For example, if you were keen on switching to an idyllic island lifestyle, countries like Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, or St. Lucia would be a suitable option.

On the other hand, Malta may be a more attractive choice for those looking for more sophisticated options in terms of education and healthcare facilities. Similarly, Austria could be ideal for tax planning purposes.

European countries have particularly tempting programmes, given the strength of the Schengen passport that can be obtained once all requirements are met.

For many Indian nationals, acquiring a second passport through CBI is not merely about economic benefits or expanding travel opportunities. It can also be an emotional and practical decision.

Many Indian citizens may wish to have the security of a second citizenship in case of any potential political unrest or conflicts in their home country. They may also want to ensure that their children have access to quality education and healthcare facilities.

Moreover, a second passport can remove restrictions on travel to certain countries and enable individuals to visit family or conduct business without any hassle.

Additionally, it's worth noting that some CBI programmes also offer the option of including family members in the application process, making it an attractive option for those looking to secure their family's future as well.

The exact requirements will vary, depending on the scheme you choose to follow, but in broad terms, these are the commonly required documents:

Passport

Your passport is the primary identification document. It proves your nationality and identity. You will need to provide a clear copy of your passport, including all the pages that have stamps or visas. Some programs may require a passport with at least six months of validity left.

Birth Certificate

A birth certificate is required to verify your age and place of birth. This document should be translated into English if it's in another language, and it should be notarized or apostilled depending on the requirements of the country where you're applying. For more help on recovering a copy of your birth certificate, go here.

Police Clearance Certificate

This document is crucial as it confirms whether or not you have a criminal record. You must obtain this from every country where you've lived for more than six months during the past decade. The certificate should state that you have no outstanding convictions. To obtain your PCC from India, go here.

Medical Records

To protect public health, countries require medical clearance certificates. This includes tests for communicable diseases like HIV/AIDS. You will need to undergo a medical examination by a certified doctor, who will then provide a certificate stating that you are in good health.

Proof of Residential Address

This could be a utility bill, a bank statement or any official document that clearly shows your name and residential address. This is to prove your current residence.

Proof of Source of Funds

This is to show that you have sufficient funds to invest and that the money has been earned legally. This could include bank statements, tax returns, pay slips, audited business accounts, or proof of ownership of assets.

Marriage Certificate

If you're applying with your spouse, you'll need to provide your marriage certificate to prove the legitimacy of your relationship. If you're divorced, or your spouse has passed away, you might also need to provide relevant documents.

CBI Application Documents

These are the specific forms and other documents required by the Citizenship by Investment Program. The requirements vary by country and can include forms detailing your personal information, investment details, and declarations of good character.

Remember, the documents required can vary depending on the Citizenship by Investment program, so always check with an adviser or the official website of the program you're applying to.

The exact amount required to apply for Citizenship by Investment for Indian nationals varies, depending on the country, and may have a one-time or annual element to it. For example, the minimum investment for Malta's Citizenship by Investment program is €650,000.

Furthermore, applicants must also be aware of any additional fees that may apply during the application process, such as due diligence fees or processing fees. Depending on the country and program, these can range from a few thousand dollars to tens of thousands.

It's essential to ensure that you have the necessary funds available before beginning the application process for any Citizenship by Investment programme. Some programs may require proof of sufficient liquid assets, while others may accept different forms of legal sources of funds, such as through donations or investments.

As we discussed previously, the benefits will vary, depending on which country you select to apply to. Applicants to EU countries often cite the healthcare and the freedom to move, thanks to the Schengen area, as a primary reason for choosing to obtain a second passport through CBI. Other advantages may include tax benefits, increased business opportunities and access to high-quality education for individuals and their families.