During 2021, the number of countries offering new programs “Citizenship, residence permit, permanent residence in exchange for investment” has increased, and some of the existing ones have undergone noticeable changes. For the most part, governments are easing requirements for potential investors, the number of which continues to grow.
Previously, this region of Tanzania did not issue residence permits to foreign property buyers, but since June 29 they have the opportunity to obtain this status. For this, there are no restrictions on the type or value of real estate or on the length of stay, the only condition is that the residence permit is valid as long as the property is owned, and it must be renewed every two years. The main investor and his immediate relatives: spouse and children under the age of 20 can count on it. Accordingly, obtaining a residence permit in Zanzibar will cost $3,050 for the applicant and $550 for each family member.
Buyers are provided with a number of benefits and opportunities with the exception of the right to work, which must be requested separately, and they also apply to those who have purchased commercial real estate: bars, restaurants, entertainment venues, shopping and sports centers, etc. They will be required to submit a business plan and obtain its approval; in this case, for the first 5 years the business will not be subject to income taxes, and thereafter they will be levied at a reduced rate.
A new Citizenship by Investment program is paving the way for foreign investors to obtain a passport from the East African island nation. This document guarantees visa-free entry into more than 150 countries, including the Schengen countries and the UK. In addition, its holder can obtain a work permit and access to free medical care.
Foreigners who have invested at least one million US dollars in a local business and have lived here as a resident for at least 11 years can apply for Seychelles citizenship. During this period, you are allowed to be absent from the country for no more than a year in a row or obtain appropriate permission from the Ministry of Internal Affairs. The final stage is passing a qualifying exam in English, French or Creole, according to the results of which you must score 80% of the points.
An investment program on the Caribbean island, which is part of the Netherlands as an autonomous region, was launched in 2014 but was subsequently suspended. Now the government of Curacao has renewed it both for applicants for residence permits and for residents wishing to become Dutch citizens. The latter, provided they have lived legally for five years, only need to pass an integration exam and knowledge of the Dutch language.
For everyone else, there are three options for obtaining a Curacao residence permit: purchasing real estate, investing in a local business, purchasing securities that are traded on the Dutch Caribbean Stock Exchange. The minimum investment amount for a residence permit for a period of three years with subsequent renewal will be 280 thousand US dollars, for a period of five years – 425 thousand, and for an indefinite period – 850 thousand.
Albania has adopted a new law on foreigners, according to which property owners are given the right to request a residence permit. The minimum requirement is to own at least half of the property, the area of which must be more than 40 sq.m. Perhaps in the future a minimum cost will be introduced, but so far there are no restrictions on this item. Also, the law does not specify work permits, starting your own business and other rights and opportunities provided for residents. The only obligation is life insurance in the amount of 50 euros per year.
The new law increases the number of categories of foreign citizens who can count on a residence permit in Albania. Now these are retirees and so-called “digital nomads”, which is becoming more and more due to the transition to remote work. The first will have to confirm that they own (or rent) housing and have sufficient funds to live in the country (primarily a pension of about 9,800 euros per year) and an account in an Albanian bank, as well as purchase health insurance. The latter will also be required to provide a work contract concluded with a foreign company.
It is assumed that the first residence permit in Albania will be issued for one year, after which it will be extended for 2+2 years and five years. In turn, undergraduate and graduate students will be allowed to stay in the country for 9 months after graduation to look for work.
In September, Oman will launch its investment program, whose authorities have decided to follow the example of the UAE, issuing long-term residence permits to foreign investors, pensioners and highly qualified personnel. The residence permit will be issued for a period of 5 and 10 years, but the conditions for obtaining it, including the amount of investment, have not yet been made public. Thus, this Gulf country, in which the share of foreigners exceeds 40%, expects to improve its financial position, which has been shaken by the Covid-19 pandemic.