Applying for Citizenship by Investment as a US Citizen

Citizenship by investment (CBI) programs have gained popularity among United States citizens seeking enhanced privileges within the visa-free Schengen area and alternative lifestyles that holding another passport can offer. This article will examine the advantages of CBI programs specifically for United States nationals. Additionally, we will address any potential challenges that may arise during the application procedure and outline the necessary steps involved in pursuing citizenship through investment.

Before we begin, we should examine the power of the US passport. As of 2023, the US passport ranks 7th on the Henley Passport Index. The US passport allows visa-free travel to 186 destinations. Given that the world currently consists of 195 countries (193 UN countries and 2 non-member observers), that allows a US citizen access to the vast majority of the world.

Access to a country does not mean the ability to stay indefinitely or to access the benefits that exist within its borders. As such, US citizens may look at other options to obtain a second passport through citizenship by investment programs. This can allow for the freedom to live, work, and study within the country of their choosing, as well as access to various benefits such as healthcare, education, and tax advantages.

For example, if a US citizen were to acquire a British passport, their new passport would have access to 189 countries, visa-free. While most of this would overlap, the total passport power of this individual would now allow access to 191 destinations.

Additionally, our example citizen would have access to British facilities, such as the NHS, without being forced to pay the NHS levy that American citizens are charged if they reside in the UK for over six months.

Alternatively, becoming a Portuguese citizen provides the same passport power but gives complete access to the Schengen area, which allows our example citizen to live and work in any of the 26 EU countries without needing a visa.

For Citizenship by Investment as US citizen, you’ll need to prepare a range of documents before you make your application. These include:

Passport

The first and most important document for citizenship by investment for Americans is a valid American passport. This will serve as your primary identification and proof of nationality throughout the application process.

Birth Certificate

You will also need to provide an original or certified copy of your birth certificate. This document verifies your age, place of birth, and parentage. If you require a replacement birth certificate, you can obtain instructions from the appropriate Vital Records department.

Police Clearance Certificate

A police clearance certificate, also known as a Criminal Record Check, is required to prove that you have no criminal record. The relevant authorities must issue this document, and it should not be more than six months old at the time of application. You can get advice on how to obtain this document here.

CBI Application Documents

Each country's citizenship by investment program will have its own required documents for the application process. These may include bank statements, proof of source of funds, and other financial documents.

It is important to thoroughly research and gather all necessary documents before beginning your application to avoid delays or rejections due to missing information.

Marriage Certificate

If you are married and wish to include your spouse in the application, a certified copy of your marriage certificate will be required. This is to prove the validity of your relationship and ensure that both spouses receive citizenship through investment. Be aware that some countries that offer Citizenship by Investment as US citizen do not acknowledge same-sex marriages as legitimate, so it is important to check with the relevant authority if that is relevant to you.

Medical Records

Some countries may also require medical records as part of their application process. These may include a health certificate, proof of vaccinations, or a medical exam conducted by a certified physician.

Proof of Residential Address

You will also need to provide proof of your current residential address. This could be a utility bill, rental agreement, or other official documents showing your name and address.

Proof of Source of Funds

Finally, you'll need to prove the source of your investment funds, whether through bank statements, business records, or other financial documents. This ensures that the funds being used for citizenship by investment are legitimate and obtained legally.

You will need to meet one of the Citizen by Investment fund requirements. Initially, you will be applying for a residency permit, with some countries allowing direct applications for citizenship, while others will require a period of residency prior to the application being approved.

The funding requirements for citizenship by investment vary depending on the country and program you are applying through. Some countries may require a minimum donation to their national development fund, while others may offer real estate or business investment options.

At the time of writing, applications for Dominica, Antigua & Barbuda, St. Kitts & Nevis, St. Lucia, and Grenada all offer direct citizenship in three to six months, and investment costs begin from as little as $100,000. Comparatively, the Turkish program also offers a passport in six to nine months for an investment of $400,000. Both provide visa-free access to over 100 countries, but these differ in the specifics.

In the UK, the Tier 1 investment route costs £2,000,000 and allows 3 years of residency, which can be extended further for 2 years. After 5 years, you can apply for a British passport. Alternatively, you can accelerate this process to as little as 2 years, with a £10,000,000 investment.

It is essential to carefully consider the funding options and the benefits that each scheme offers and choose one that aligns with your financial goals and objectives.

One of the main challenges for US citizens applying for citizenship by investment is navigating tax implications. The United States practices worldwide taxation, meaning that all US citizens must report and pay taxes on their global income regardless of residence. This can become a complicated process when obtaining citizenship in another country.

Additionally, some countries may have strict eligibility requirements for their citizenship by investment programs, such as age restrictions or language proficiency exams. It is important to thoroughly research and understand these requirements before beginning the application process.