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CitizenX: Invest in Citizenship

citizenx.com

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Re: CitizenX: Invest in Citizenship

#21

Post by ipince »

pyuser583 wrote: post #10
n2d4 wrote: post #7

Earlier quoted context omitted.

From what I can tell, this is the amount you have to invest into the country, not the application fee. They are similar to US EB-5 investor green cards, but grant a full citizenship.

My understanding is you get to keep the money. It just has to be invested in a local business that meets certain requirements. Local consulting firms can build such businesses (for a fee), and they are generally profitable.

It really depends. In some cases, it is actually an investment, either in a company or in real estate. But the real estate may come with requirements, like specific areas in which the property must be, or with restrictions on selling it. In other cases, you can "donate" to a government-managed fund. In that case it's not really an investment cause you'll never see that money again.

Re: CitizenX: Invest in Citizenship

#22

Post by Brajeshwar »

echelon wrote: post #13

If you have US citizenship, do any other countries unlock more travel destinations? Do any non-US citizenships let you skip a visa and travel more freely than you otherwise could? With additional citizenships, do you now have added tax obligations? The US always taxes you, even as an expat, IIRC. If something bad happens abroad, which embassy helps you out? Does getting another citizenship put you at risk of losing y…

Passport Index[1] ranking should answer your question on the travel destination without the Visa hassles. As an Indian citizen, one of an inconvenience is that to travel to a decent country, especially for business, there is always a Visa thing.

1. https://www.passportindex.org/byRank.php

Re: CitizenX: Invest in Citizenship

#25

Post by larrysalibra »

oyster143 wrote: post #17
boznz wrote: post #15

Or if you are young and skilled, just apply for migration to the country of your choice. Australia, Canada and New Zealand are preferred destinations for English speakers. Its sometimes messy trying to get all the documentation together and you generally have to be squeaky clean, but no agents need to be involved. I have done it once and my wife has done it twice. Though the last time we did it to get to NZ was almos…

You will have to move though, in Malta you can just invest and get a passport

Exactly! The English speaking countries the parent mentions make it “easy” for young people to move there because they want more people to tax at their confiscatory tax rates. The goal of many people buying these other citizenships is to get them without having to become tax resident. Often they have residence visas or PR rights in other places.

For example if you’re an American with a Thailand elite visa good for 20 years or Singapore or Hong Kong PR you might want to get rid of your US passport but to do that practically you need another - literally any will do but these ppl don’t have an interest in becoming tax resident in another high tax place with complicated world wide reporting requirements…that’s literally the problem they are trying to solve by getting rid of the U.S. one.

Re: CitizenX: Invest in Citizenship

#26

Post by dzink »

factfindingisfn wrote: post #23

This site looks like some kind of get rich slowly/negatively oppurtunity that your cousin tries to sell you at Thanksgiving. I don't know a lot, what I do know is that I have no idea why someone would pay $100k to be a citizen in Grenada or Dominica.

Imagine if you are a Russian war criminal. Or anyone dodging taxes.

Re: CitizenX: Invest in Citizenship

#27

Post by DavidAdams »

factfindingisfn wrote: post #23

This site looks like some kind of get rich slowly/negatively oppurtunity that your cousin tries to sell you at Thanksgiving. I don't know a lot, what I do know is that I have no idea why someone would pay $100k to be a citizen in Grenada or Dominica.

Let's say you're a well-to-do citizen of Pakistan. There are only 11 countries you can travel to without going through visa bureaucracy (and they're not a whos-who of global commerce, either). You park a little bit of your wealth into an investment in one of these countries and now you can freely travel the world without hassle.

Re: CitizenX: Invest in Citizenship

#28

Post by Brajeshwar »

For the rich, it is a lump-sum change. Without trying to go political, here are my thoughts. With four wars currently in progress, this is indeed a good sale for the rich who might not be very literate enough but have the money from their own means.

Here is an example: I will avoid naming or inferring any person or entity. At the onset of the pandemic, I was introduced to an "Investor" because he believed startups were the other avenue to make big money. He barely speaks English (this is relevant), and of course, his primary question was -- if I invest X amount, how much return do I get, and in what timeline?

I learned that he owns a lot of real estate in Bangalore (India) and that a considerable amount of his monthly income is from commercial property rent. My second learning was that he is a USA green card holder but stays in India as an "American." He invested a minimal $800,000 (I think as of 2020) in a business in the USA where (I don't think) most would prefer to immigrate and live.

So, many wealthy people are willing to become citizens of a different country for various reasons. CitizenX may not be the go-to self-serve finish-your-job online service, but they might partner with or do custom concierge services and earn a good amount.

Re: CitizenX: Invest in Citizenship

#29

Post by renewiltord »

dzink wrote: post #26
factfindingisfn wrote: post #23

This site looks like some kind of get rich slowly/negatively oppurtunity that your cousin tries to sell you at Thanksgiving. I don't know a lot, what I do know is that I have no idea why someone would pay $100k to be a citizen in Grenada or Dominica.

Imagine if you are a Russian war criminal. Or anyone dodging taxes.

Neither Grenada nor Dominica accept Russians through this program.
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