Are there any shopaholics among our readers? Did you know that the newest thing that you can buy is a real, genuine citizenship? Depending on how much you are willing to spend, you can buy from Spanish all the way to the New Zealand citizenship.
Citizenship by Investment
Citizenship by investment or citizenship planning is a measure that many countries are incorporating and offering to foreigners. Basically, when you buy a real estate property in a selected country, you can receive the right of residence and citizenship there. Also, if you start a business there or if you just donate a particular sum of money, you can also receive all these rights. With the citizenship, you also receive the passport of that country.
This practice was first introduced by the islands of St Kitts and Nevis in 1984. Their government debt reached incredible levels and an urgent solution was needed. Selling their passports to foreigners who wanted to invest in the country was one of them.
Perks of These Citizenships
Besides being a great way of filling states’ budgets and getting out of a crisis, people are attracted for the most part to the powerful passports that allow visa-free travelling. Some countries are making it hard for their citizens to obtain visas for other countries. Also, unstable countries don’t offer much security to its people. Due to all these problems and more, people decide to buy citizenship in order to work somewhere else, move their families, or to have an option to escape economic and political uncertainties in their own countries.
Different countries have different requirements for obtaining their citizenship. Some are gladly selling their passports even if a person decides to just buy government bonds, others are requiring from potential new citizens to fulfil a minimum time spent in the country. And there are some countries that are giving out citizenships without the requirement of living there at all.
Should nationality be something you can buy? Should it be gifted to actors, athletes and other people from the field of entertainment just for the sake of it? Some may argue that nationality is who you are and not a status symbol that you can easily buy for the money. There is also a possibility of using these passports for organised criminal activity. However, this practice is only expanding and if there are customers, selling of the citizenships will bloom.