Today there are many countries such that you can invest a certain amount of money in their economy to become a citizen. It attracts foreign investors who want to live and work in a country with a pleasant climate, or a better political and economic situation. Ukraine also gives such an opportunity. If you want to become a citizen on the basis of an investment, but do not know how to do it correctly, contact attorneys at law “Bachynskyy and partners”.
How it is organized in other countries
Many countries offer citizenship in exchange for investment in their economies. The procedure is mostly the same in most cases.
Cyprus is one of the most popular countries for emigrants from the post-Soviet space at the moment. Now there are so many immigrants from the countries of the former USSR living there that they even created their own political party. Thanks to a good climate, as well as membership in the European Union, Cyprus is one of the most attractive places to live. If you want to be granted citizenship, you need to buy real estate in the territory of the republic for a sum of five million euros. In addition to the investor himself, his family receives citizenship – a husband or wife and minors.
St. Kitts and Nevis – a great option for those who do not want to wait long. The passport of this country, located in the Caribbean Sea, is made in a few months. To obtain citizenship you need to buy a property in St. Kitts and Nevis for a sum of four hundred thousand dollars. You can also make a contribution to the charity fund for the diversification of the sugar industry for the amount of 250-350 thousand dollars, depending on the number of family members who claim to be a citizen. The big plus of the citizenship of St. Kitts and Nevis is the possibility of traveling without a visa to one hundred thirty-one countries in the world.
The Dominican Republic, another country in the Caribbean, makes it possible to acquire citizenship much cheaper than in other countries. The amount of investment is one hundred thousand dollars for one person, or two hundred thousand for a family with two children. For each additional family member you will have to pay another fifty thousand. However, unlike other states, here it is not about buying a property for your own use, but about a direct payment to the state. In addition, the visa-free regime in the Dominican Republic is valid only with fifty countries of the world.
Quite a number of countries invite foreign investors. Among them are the United States, Great Britain, Spain and Canada. However, in these countries one can only get a residence permit, not a citizenship. If you are interested in obtaining foreign citizenship, please contact “Bachynskyy and Partners”. We will help you to do this quickly and profitable.
Investments for which you can obtain a residence permit
If you decide to become a citizen of Ukraine, investing in its economy, you need to keep in mind a few things. First, the investor does not immediately obtain citizenship. For the first time, Ukraine gives him a permanent residence permit, and then one gets the opportunity to become a citizen. Second, one should understand what exactly investments are the basis for reception of permanent residence.
Many foreigners mistakenly believe that housing can be bought as an investment. Such a scheme works in many other countries, but under Ukrainian legislation, the purchase of house is the consumption of own funds for their own needs and does not contribute to the development of the state economy. Therefore, buying a home in Ukraine is not itself a ground for temporary residence.
The main option of the investment, which gives the right to permanent residence, is the opening of a company in Ukraine. This will bring the state income, and, consequently, contribute to its economic development.
Although officially, the purchase of real estate is not a ground for obtaining a view, there is a way to buy a home for this money to be considered an investment. You can open a company in Ukraine and buy a property with its money. When you receive a permanent residence permit, the company can disassemble and unsubscribe the purchased property to itself. Until this time you will have to officially rent a home in your own company.
In order for you to qualify for a permanent residence permit, your investment must meet the following requirements:
- Money is used to create a new enterprise in Ukraine or to invest in existing ones;
- The investment must be more than one hundred thousand dollars;
- The investment must be made in a convertible foreign currency;
- The investment must be contributed through the investment account opened in Ukrainian bank;
- Invested money should contribute to the development of the state economy, i.e., to be used for the economic activity, which brings profit to Ukraine;
- The money you invest must be obtained legally.
Steps to be taken to obtain a residence permit for an investment
If you decide to invest in the Ukrainian economy in order to obtain a residence permit, and then citizenship, you need to go through several stages. The first of these will be the opening of a company in Ukraine. The best form of the company, in this case, will be the Limited Liability Company (LLC). If you plan to buy housing at the expense of the firm, indicate real estate transactions as one of the activities. You need to indicate yourself as the founder of the company.
After the company is opened, its authorized capital must be paid. This amount will be considered your investment. You need to pay this money from your personal investment account opened in Ukrainian bank beforehand. The amount must be in convertible foreign currency and exceed $ 100,000.
If you plan to move to Ukraine immediately, you should get a work permit as a director of the company and make a temporary residence permit on its basis. The matter is that the registration of permanent residence on investment can last from six months to one year.
After you have received a temporary residence permit, submit the documents to the permanent one. You will need a certificate of registration of the investment, documents confirming the absence of previous conviction and the presence of a place of residence, and medical certificates.
How to become a citizen
After you get a residence permit, you will have almost all rights of the citizen. After living in Ukraine for five years, you can try to get citizenship.
In order to become a citizen of Ukraine, you need to meet the following requirements:
- Abide the Constitution of Ukraine and other laws;
- No other citizenship or obligation to terminate it;
- Continually reside in Ukraine during the last five years;
- Get an immigration permit;
- Speak Ukrainian language at a level sufficient for communication;
- Have legal sources of existence.
Citizens who have committed hard crimes may fail to get citizenship.
If you meet these requirements, you need to collect the documents, pay the state fee and submit your application to the office of the State Migration Service at the place of residence. How to properly write a statement, as well as documents you need, one can find out at the Department of the State Migration Service of Ukraine.
After you terminate your former citizenship, you will need to hand over your old passport to the embassy or consulate of the country you were a citizen of.
How to get a citizenship for an investment without risk
Obtaining citizenship is a complicated process. Any mistake in the registration of documents may lead to the fact that everything will have to start again. In the case of investment, there is an additional risk. If you invest money in the wrong industry or register them incorrectly, you may not be granted a residence permit and you will have to spend the same amount again. Therefore, in order to avoid risks, it is worth taking advantage of the help of professional lawyers.
The company “Bachynskyy and partners” offers you services. We have the best migratory law specialists in Ukraine, as well as foreign consultants. If you want to get citizenship without risking wasting time and money, please contact us.
