Will the EU and the US close all the residency and citizenship by investment programs in 2022?
Published at: 08/04/2022 10:10 am
The EU, the US, and the United Kingdom wish to abolish all citizenship and residency through investment programs. If you want to obtain a second passport or residency permit, it's time to move fast.
And don't worry, the immigration legislations constantly change. We are following the developments carefully. Moreover, we can declare on the issue: there will always be solutions for the wealthy and the high-educated to move to another country.
What will happen with investors' immigration schemes in 2022?
The European Parliament called to "phase out" the "golden visas" (residency by investment schemes) and the residency by investment programs. According to the EP's statement, these programs threaten Europe because they can be used "as a backdoor to the Union for dirty money". Moreover, a significant majority (595 votes to 12) of the MEPs said the golden visas and passports must be phased out totally. There are 21 EU Member States with a residency by investment program. Cyprus had official citizenship by investment program, but the Union and the aftermath of several corruption cases forced this sovereign state to abolish its scheme.
Semi-officially Austria and Bulgaria have citizenship through investment programs. Bulgaria closed in March 2022 its residency through an investment program, which led to citizenship. Austria always lied about this investors' immigration program, so we can bet that nothing will change.
The United Kingdom closed its Tier1 investor visa.
The US wants to ban entry without a visa for travellers who obtained their citizenship through investment; the senators named Malta during the amendment submission to Congress.
Should we forget residency and citizenship through investment programs?
Of course not. Investors and high skilled people will always have a preferential way to settle in other countries. Nothing has changed related to beneficial immigrants since ancient Athens. The problem is not that wealthy foreigners want to live, invest or work in another country. The issue is always the corrupt governmental authorities. During the Ukrainian war, the European Union and the NATO countries checked the Russian oligarchs' golden residency permits and passports. These individuals could obtain their residencies or citizenship, but most processes succeeded with the help of false statements and documents accepted by the host countries.
How can you apply for a second citizenship or residency in 2022?
You are not in a rush, but it's time to act. Ask for consultation here. Gather the necessary documents you need with our help and start the process. Discus Holdings Ltd is an official agent of several immigration programs; we are here to hold your hand during your settlement process and support you.