Passports and Boarding Pass at the Airport | Savory & Partners

Share Via

Blog Published on:October 4, 2023 | Updated on:December 10, 2024 5 Min

Six Things To Know Before Applying For A Second Citizenship

Legitimacy in investment migration was an issue a few decades back, but verifying a Citizenship or Residency by Investment Program’s authenticity or an agent’s certificate is much simpler now, if you know exactly what to look out for.

In this piece, we will cover six things to know before applying for a second citizenship.

 

1- Non-Existing Programs

When considering a Citizenship by Investment Program, always conduct some research to find the official government website. This will tell you what government authority officially runs the program and will provide you with the laws to prove that the program is authentic.

You may see ads for citizenship by investment programs in the United States, the United Kingdom, Singapore, and others. But a quick search will show you that these do not exist and that these countries only offer Residency by Investment Programs or Investment Migration Programs.

Some providers will try to utilise existing media to make a program seem real, like in the case of North Macedonia when service providers started marketing its citizenship by investment program at $200,000. While the government was thinking about launching a program and prepared the law to match it, the program was never officially announced, and those who did apply were left in limbo as their cases were not processed.

Caribbean Citizenship by Investment Programs have official websites with comprehensive information that shows exactly what they are and how to apply.

 

2- Shortcuts to Citizenship

Many countries, like Spain, Argentina, and others have expedited routes to naturalisation, while Malta has a full-fledged Citizenship by Investment Program that significantly decreases the time needed to become a citizen.

However, deceptive firms might offer clients a residency by investment program with a fast track to citizenship that does not exist.

Spain has a naturalisation residency requirement of ten years. But for certain nationalities, such as Latin Americans and Filipinos, that timeframe is cut down to just two years. A deceitful practitioner might highlight parts of the law and make it seem like it is open to those who invest in the Golden Visa, which is not the case.

 

3- Major Markups

Many Residency by Investment Programs have a real estate option based on an open market policy, allowing investors to choose any property they’d like as long as they meet the minimum investment requirement.

However, that flexibility can breed a major problem – markups. A property in Greece might have a fair market value of €210,000, but a real estate agent may find an evaluator who officially values it at €250,000, so it meets the Golden Visa’s minimum investment requirement.

Once the government has an official valuation, it will proceed with the application, as government officials may not double-check it since the evaluator should be doing his job correctly.

 

4- Unqualifying Funds

Portugal’s Golden Visa is one of the most popular investment migration programs in the world, but this year, it underwent a seismic change when the government decided to scrap the real estate investment option, leaving the investment fund category as the most popular qualification channel.

Now, funds are a popular investment option but they may seem a bit foreign to the average investor, so extra caution is needed when choosing the fund under which to lodge an application for a Golden Visa.

Portugal has a government entity that regulates investment funds, the Securities Market Commission or CMVM. Any fund registered under and regulated by the CMVM qualifies for the Golden Visa, and there are hundreds of them. But that isn’t the only criteria a fund must meet to qualify for the Golden Visa, as they need to invest the majority of their funds into something other than residential real estate developments and focus the majority of their funding in Portugal.

Working While Preparing for Travel | Savory & Partners

When considering a Citizenship by Investment Program, always conduct some research to find the official government website.

5- Uncertified Agents

Caribbean citizenship by investment programs have extensive lists of authorised local and international agents who are certified and allowed to market the program, give consultations, and process files.

To become an agent, a firm must pass due diligence and pay an annual fee starting at $10,000, depending on the program and the firm’s hierarchy.

6- Too Good To Be True Investment Opportunities

Many citizenship and residency by investment programs allow for investors to qualify through investing in an off-plan project, meaning that the project hasn’t yet started construction, and that is where many of these problems lie.

Off-plan projects can be beneficial but it all hinges on the completion of the construction. If you do want to invest in an off-plan project, the first thing to look at is the funding. If the developer is funding most of the cost, then they will want to get the job done as soon as possible. If most of it is funded by investors and third-party financing institutes, then the developer may not be in a hurry to finish, as they have no financial risk involved.

 

Logical consideration and research are the best ways to avoid issues such as these, and a level-headed approach is necessary for the investment factor of investment migration to be as beneficial as the immigration one.

Need more information?

To know more about Savory & Partners and how to pursue investment migration in a safe, beneficial way, contact us today to book a comprehensive consultation with one of our citizenship and residency by investment experts.

video

Written By

João

João Silva

João Silva is a seasoned consultant in the global mobility industry with over 12 years of experience. Specializing in European residency and citizenship by investment programs, João has assisted hundreds of high-net-worth clients in securing their second citizenship through strategic investments in real estate and government bonds.

Related Articles

The 2025 Guide to OCI India: Eligibility, Application Process & Renewals
April 25, 202511 Min
The 2025 Guide to OCI India: Eligibility, Application Process & Renewals
Read More
7 Legal Ways to Reduce Your Tax Burden Worldwide
April 9, 202528 Min
7 Legal Ways to Reduce Your Tax Burden Worldwide
Read More
Best Countries for Migration in 2025 with Residency and Citizenship Options
April 3, 202528 Min
Best Countries for Migration in 2025 with Residency and Citizenship Options
Read More
Why Are Some Countries Pushing Away Wealth? And Where Can Wealthy Migrants Go?
March 28, 202514 Min
Why Are Some Countries Pushing Away Wealth? And Where Can Wealthy Migrants Go?
Read More
Key Factors to Consider Before Applying for Dual Citizenship
March 26, 202518 Min
Key Factors to Consider Before Applying for Dual Citizenship
Read More
Best Caribbean Citizenship by Investment Programs in 2025: A Complete Guide
February 18, 202521 Min
Best Caribbean Citizenship by Investment Programs in 2025: A Complete Guide
Read More
Dual Citizenship for US Citizens: Eligible Countries and Ways to Get a Second Passport
February 6, 202520 Min
Dual Citizenship for US Citizens: Eligible Countries and Ways to Get a Second Passport
Read More
fastest citizenships programs for second passports
February 4, 202527 Min
Easiest Passport to Get: Top 5 Fast Citizenship Programs
Read More
complete list and requirements of dual citizenship countries
January 23, 202527 Min
Dual Citizenship Countries: Complete List and Requirements
Read More

Recently Published

The 2025 Guide to OCI India: Eligibility, Application Process & Renewals
April 25, 202511 Min
The 2025 Guide to OCI India: Eligibility, Application Process & Renewals
Read More
Malta Visa-Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
April 23, 202514 Min
Malta Visa-Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
Read More
Best Investment Migration Asset Classes in 2025
April 22, 202517 Min
Best Investment Migration Asset Classes in 2025
Read More
Montenegro Passport Visa-Free Countries 2025: Comprehensive Guide to Visa-Free, Visa on Arrival, and eVisa Destinations
April 21, 202513 Min
Montenegro Passport Visa-Free Countries 2025: Comprehensive Guide to Visa-Free, Visa on Arrival, and eVisa Destinations
Read More
Vanuatu Visa-Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
April 18, 202520 Min
Vanuatu Visa-Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
Read More
Cyprus Visa Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
April 16, 202514 Min
Cyprus Visa-Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
Read More
How to Migrate Through Cryptocurrency Investment
April 15, 202523 Min
How to Migrate Through Cryptocurrency Investment
Read More
Ireland Visa Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
April 14, 202511 Min
Ireland Visa Free Countries: Complete List of 2025 Visa-Free & Visa on Arrival Destinations
Read More
Dubai Business Visa Types, Requirements and Business Setup Options in 2025
April 11, 202519 Min
Dubai Business Visa Types, Requirements and Business Setup Options in 2025
Read More
Book a free consultation

Book a free consultation

© 2024 Second Citizenship by Investment, Second Passport Programs - Savory & Partners. Privacy Policy Terms & Conditions