How Does Citizenship By Investment Work?

Citizenship by Investment programs aren’t nearly as complicated as they might first appear. With the amount of paperwork, applicant prerequisites and legal/administrative fees, navigating the world of CBI can be very daunting for potential applicants. You can easily navigate the process if you have help in the form of an agent who can help guide you.

In this article, we’re going to take a look at the particulars of a second citizenship application. What requirements must you satisfy in order to apply for a second citizenship? What fees are payable? And how long can you expect the whole process to take?

Join us as we answer these questions, and many more, below.

Before answering this question, we need to look at what citizenship is at the most fundamental level. It is, in essence, ‘membership’ of a country. Being a citizen entitles you to a passport, social services such as healthcare, the right to live and work in that country, and the right to come and go from that country as and when you please.

Citizenship by investment, then, is becoming a citizen of a particular country by financially contributing to that country. This could take the form of a donation, or it could mean investing in real estate or a business.

The process of applying for citizenship by investment varies from country to country, but there are some commonalities across all programs – particularly among the Caribbean nations that offer such programs.

The world’s first CBI program began in the Caribbean country of Saint Kitts & Nevis in 1984, and has gone from strength to strength since then. It’s now offered by 5 Caribbean nations (including the aforementioned St. Kitts & Nevis) and in Turkey and Vanuatu. A CBI-adjacent program is also offered by Malta, but it differs slightly in that it does have a residency requirement.

Applying for citizenship by investment can, as previously noted, seem incredibly complex. But the truth is that it’s not all that difficult; with the right assistance, it can be a smooth and straightforward process.

Let’s take a look at that process in more detail.

Step 1: Choose An Authorized Agent

For most countries with CBI programs, it isn’t possible to directly apply for your citizenship by investment; you must instead work with an agent that has been authorized by that country.

Each country maintains its own list of authorized agents, and that list can generally be found on the official website maintained by that country’s CBI unit.

Please see below for a list of the various CBI countries and whether or not you’re required to go through an agent:

As we can see, Türkiye is the only CBI country that allows you to apply directly, without the use of a third party. However, this is not recommended; it’s highly advisable to retain the services of a lawyer in order to help you navigate the legal process of becoming a Turkish citizen.

Step 2: Fill Out Application Form(s) And Collect Supporting Documentation

After having retained the services of an authorized agent, it’s time to get the ball rolling by filling in the relevant application form(s) and finding out what supporting documentation you’ll need for your application.

Your agent can advise you on which application forms need to be filled out, as well as letting you know about any oddities or idiosyncrasies particular to those forms. They will also let you know what sort of supporting documentation you’ll need.

Many agents will conduct pre-screenings in order to ensure that your application will go through smoothly. They may ask for your passport details at this stage, and may look into your background to ensure there’s no reason that the country in question would reject your application out of hand. This is helpful in ensuring that you do not waste money on an application that’s likely to be rejected.

If the agent is satisfied that your application can go ahead, then they will assist you in collecting any documentation that you’ll need. Many agents assign a specialist document agent to this task, who will apprise you of the required documents and keep tabs on where you’re up to in the process.

Documents required will typically include:

• A certified copy of your national ID card (if applicable);
• A certified copy of your current passport
• A certified copy of a police criminal background check from your current home country
• A certified copy of your birth certificate

If any other documents are required, your agent will let you know.

Step 3: Submit Your Application

When all necessary documents have been collected and all relevant paperwork completed, your agent will submit your application to the government agency responsible for handling CBI admissions (often called a ‘CBI unit’).

All submitted documents must be in English, irrespective of the country to which you’re applying.

The CBI unit will acknowledge receipt of your documents, and due diligence will begin shortly.

Step 4: Due Diligence

All countries offering CBI programs will perform second citizenship due diligence. The thoroughness of the due-diligence checks will vary from country to country, and it is generally accepted that Malta is the strictest.

Due-diligence checks are extremely intensive when it comes to citizenship by investment, and can take up to three months. The country will refer all of your documentation to a third party, who will often cross-reference your documents with international police agencies such as Interpol and the International Criminal Court in order to ensure that you do not have a criminal record.

Internal checks are also conducted by the CBI unit staff themselves. These checks largely involve looking into an applicant’s finances for any evidence of financial fraud or other finance-related misdeeds, such as money laundering.

Due diligence checks are time-intensive and costly, and there will be fees no matter which country you’re applying to. The exact cost of your due diligence checks will vary from country to country, but they typically range from $5000 to $7500 per main applicant, with fees of around $5000 per adult dependant included on the application.

Note that in Malta, it’s significantly more expensive; the main applicant must pay 15,000 euros ($16,400 approx), with an additional 10,000 euros ($10,900) per dependant.

Step 5: Approval In Principle And Payment

Assuming all goes well, your application will be approved ‘in principle’. This means that after you have completed your investment, your application will be fully approved and you’ll be eligible to receive your new citizenship and passport.

Upon being approved in principle, you’ll receive a letter of approval, along with instructions on how to complete your donation or investment. At this stage, it’s just a matter of making that payment.

Step 6: Payment

You should, at this stage, follow the instructions provided by the CBI unit on how to make your payment (whether it’s a donation or an investment). Your agent can quite often assist with this process, helping you to make the payment to the correct bank and then sending proof of payment on to the CBI unit, expediting the process considerably.

Approximately a month after receiving proof of payment, the CBI unit will issue a certificate of citizenship to the applicant. At this stage, you are a fully-fledged citizen of your new country, with all the benefits that that implies.

Passports are issued approximately a week after you make your application, although it is sometimes possible to expedite this process.