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Citizenship & residency by investment: Guide on how to choose a program

27.02.2020

In this article we will share the insights based on 200+ cases from out practice and will explain how you can choose a citizenship by investment program.

Requesting additional documents

Before submitting an application to a citizenship agency, the case is checked by the agency against the exhaustive list of documents provided by law. Still, it’s a common practice among CBI agencies to request additional documents. It happens due to the fact that the due diligence procedure is carried out by an independent detective bureau.

The agency may request additional documents regarding the origin of funds, utility bills, a Police Clearance Certificate, affidavits (notarized explanations of disputable situations), confirmation of financial solvency, consent to grant of citizenship to a child from the second parent, etc.
The St. Kitts, Antigua and Barbuda, Grenada, Dominica and Malta CBI agencies often request additional documents. Bases on our own practice, there have been cases of checking the applicant’s residence address, phone calls to the applicant’s partners and clarification of the data provided, etc.

As an example, we can refer to a client’s case where people delegated by the citizenship agency arrived at client’s home address while he spent the summer in a vacation home with his family. After they weren’t able to
confirm the applicant’s residency address during the visit, the agency employees requested a package of documents confirming the residential address, as well as an explanation why he was not at home at the time of the check. After the documents were submitted, a positive decision was issued by the agency, but this situation proved that a verification can be carried out at any time.

Requesting documents does not mean a refusal to grant citizenship, but it can cause significant delay of the examination process.

Realistic time-frame

Delays DO happen! Normally, it appears to be the case due to heavy workload and the number of submitted applications. The application processing took longer than expected in St. Kitts during the period of a special offer (October-March 2018), namely when the price of participation was reduced to $ 150,000 (a donation to the Hurricane Relief Fund). At that time, more than 1,200 applications were submitted, and as a result, the Citizenship by Investment Unit of St.Kitts and Nevis did not manage to process them on time.

A similar situation took place in Dominica that was affected by the hurricane Eric in August 2015. Before the catastrophe, the island’s government planned to raise the cost of a passport by investment, but the extent of the damage changed the state’s position, and the price for citizenship remained the same, namely $ 100,000. The investors’ desire to obtain a passport of Dominica and wish to accomplish a noble cause have
helped to attract $ 99 million to the country that corresponds to 990 approved cases during the period of 2015-2016. A great flow of applications caused a delay in the processing.