Dunbar Global Limited is able to provide assistance in obtaining second citizenship in Bulgaria, Cyprus, Hungary, Latvia, St. Kitts & Nevis & the UK. We provide our immigration services via our network of partners based in these jurisdictions who are legally qualified and regulated to offer advice in all aspects of the immigration law of their respective country.
Our service is not exclusive to High Net Worth Individuals (HNWI) and Ultra High Net Worth Individuals (UHNWI) however, there are certain capital requirements to meet on each scheme and some require capital investment.
Bulgaria
There are two options available for Permanent Residence in Bulgaria the first is a full cash investment. The investor deposits BGN 1,000,000 (approximately EUR 512,000) in the Guaranteed Governmental
Bond Portfolio for a period of 5 years. No further payment is required. At the end of the five-year period, the amount BGN 1,000,000 is returned to the investor with no accrued interest. The Investment fully guaranteed by the government bonds. The second is a loan option. The investor pays a reduced amount of EUR 180,000. The reduced amount is used to finance a 1,000,000 BGN loan from a Bulgarian chartered bank. This loan is initiated and repaid at no further cost to the Investor. So, the amount of EUR 180,000 is not returned to the investor at the end of the five year period as it is so called walk-away route of investment.
On February 23, 2013 new important amendments in the Investment Promotion Act and resulting changes in the Foreigners in the Republic of Bulgaria Act and the Bulgarian Citizenship Act came in force. The Bulgarian language competence requirement and the relinquishment of the current nationality requirement for applicants who invest in government bonds are waived. These changes make the Bulgarian Residency and Citizenship Program even more attractive.
Moreover, a new option is introduced for those investors who invest BGN 1,000,000 (EUR 512,000) in risky Priority Investment Project (mostly in rural and undeveloped areas of Bulgaria). These investors will have the privilege of being able to apply for Bulgarian citizenship after 1 year with permanent residency status (instead of 5 years). After citizenship is granted the applicant will be expected to maintain the investments for a period of two more years.
Cyprus
Cyprus has moved ahead and upgraded the conditions and procedures of its immigration and naturalization programs making it more accessible and easier to obtain. It is a very attractive scheme to non-European nationals, and a permanent residence permit or instant naturalization in Cyprus can be obtained at much faster.
Although there is a lot of negative press in the media regarding Cyprus, it still offers an array of other attractive features. Apart from a favorable tax regime and a long established image as an international financial and business centre, Cyprus offers a sunny climate throughout the year and an excellent quality of life.
The advanced infrastructure, superb quality of real estate projects and the availability of highly acclaimed private multi- lingual international schools constitute Cyprus as a prime EU target location for families to live in. The very convenient geographical position of the island is also an important factor that one cannot ignore.
These upgraded programs have already been met with great success and have attracted a much interest by non-EU nationals, who are offered the opportunity to reside on the island on a temporary or permanent basis and in many cases structuring their international activities through Cyprus. There are a number of foreign nationals who have already acted upon these opportunities such as Chinese, Egyptians, Russians and Ukrainians, to name a few.
There are two main programs whereby non-EU nationals can travel or reside in Cyprus without the need of having a visa. These are the permanent residence permit and the Cyprus naturalization schemes.
Hungary
A law, passed on 11th December 2012, offers permanent residency in Hungary for €250,000 with no requirement for the applicant to live permanently in Hungary. The amount is currently considered to be the lowest across the EU.
Hungarian permanent residence permits can now be issued, under preferential conditions, to private individuals who have invested in government residency bonds worth €250,000 with a 5-year maturity.
Private individuals can buy government residency bonds either in their capacity as a private individual or via a business in which they are a majority shareholder. Hungarian residency bonds, guaranteed by the Hungarian government, will be denominated in euros and will offer a very attractive interest-rate.
The preferential conditions mean that there is no need to live continuously in Hungary in order to become a permanent resident.
Under this preferential process, after the purchase of government residency bonds, a temporary residence permit will initially be issued. This will be converted into a Hungarian permanent residence permit after six months, this being the ‘benefit’ offered in exchange for investing in the securities. There is no need to reside in Hungary following receipt of the permanent residence permit
The Hungarian permanent residence permit allows permanent residents to travel freely within the 25 other Schengen countries for up to 90 days every six months. In addition, Hungarian permanent residency offers all the rights and benefits that citizens enjoy in Hungary but with some notable exceptions, such as not being eligible to vote in Government elections or hold a Hungarian passport.
Permanent residency provides a lawful, indefinite-term residence, which will serve as a major route to Hungarian citizenship. Those with citizenship can enjoy all the immigration benefits which Hungary’s EU membership affords, including work, travel and relocation without restrictions anywhere across the EU.
The Hungarian Government welcomes investors from all countries. A significant surge of interest in Hungarian investment is expected, and encouraged, by the Government. A new scheme Hungary have made exclusively for Ukrainian nationals is also available, please contact us for further details.
Latvia
The Republic of Latvia, which was earlier a part of the former USSR, has now emerged as a much preferred immigration destination for several discernible migrants–many of who wish to gain its prized permanent residency status through the Latvia Permanent Residence Visa. Latvia–a state-member of the European Union (EU) and Schengen agreement–has lately brought-in an economic immigration scheme even as the same offers 5-year renewable residence permit–the basis of which is investment made in the nation. Visas are proffered for investors, besides every dependent member of the investors’ family.
There are basically three useful and widely employed ways via which one the aspirant may obtain the prized residency status in the country:
Perhaps the easiest and quickest way to apply for the prized residence visa. Through this route, residence visa may be gained in a very short time; in fact, in just one week or so. The investor should deposit either USD 400,000 or EUR 300,000 in a 5-year term deposit in any nationalized bank in the country
The second is to invest into real estate. To make use of it, the investor-applicant should buy real estate with a value of not less than LVL 100,000 in the nation’s capital, Riga, or not less than LVL 50,000 in other area of the county. Some other conditions exist.
The third is also a good option – business investment. Here, the investment amount depends on the size of the business (total number of workers & yearly earnings). A bare minimum yearly tax is payable even in case the business does not lead to earnings. Allegedly, this choice suits the most those who want to set-up a firm inside the EU.
The visa gives the holders several advantages. Unrestricted travelling rights in the Schengen area - Latvian permanent residence permit enables the holder residence in any of the Schengen member states. A residence permit made available, via investments is legitimate for as many as 5 years. Also there is no restriction on residence: The visa holders are free to stay in Latvia as long or as little as they want.
St Kitts and Nevis Citizenship
The Citizenship-by-Investment Program was established in 1984 and is the oldest and most respected of any program of its type worldwide. The Government of St. Kitts and Nevis utilizes this program to attract investors of good character to make a substantial contribution to the development of the Federation. These investors are then given the opportunity to apply for St Kitts and Nevis Citizenship within the guidelines of the program.
There are two types of the qualifying investments for the purposes of St. Kitts and Nevis Citizenship by Investment: donation to the Sugar Industry Diversification Foundation (SIDF option) and investment in one of governmentally approved real-estate developments (real-estate option).
The SIDF Option involves a donation of US$250,000 to US$450,000 plus, depending on the number of applying members of the family. This amount is inclusive of all government registration fees. It does not include due diligence fees, professional and legal fees for the promoting agent, which are extra..
The SIDF was established in 2006 to address a range of social and economic challenges arising from 2005 closure of the sugar industry in the Federation. The Foundation was established to assist former sugar workers by conducting research into the development of sustainable industries to replace the sugar industry and providing funding to develop such industries. The Foundation is a charitable organization of the National Bank Trust which has been designated by the Government as an “Approved Project” for the purpose of Citizenship by Investment. Its activities are managed by an independent Board of prominent individuals from the Federation of St. Kitts and Nevis.
Under the Real Estate Option, the qualifying investment starts at a minimum of US$400,000. There is a wide variety of villas, condominiums and apartments in several resort projects on the beaches or further inland both in St. Kitts and Nevis. Once purchased property cannot be resold before five years.
UK
We advise on obtaining investor, entrepreneur visas, highly skilled, work permit, businessman visas, permanent residence; indefinite leave to remain; British citizenship; naturalization, the Points Based System; student visa; family visas; marriage visas; unmarried partner visas; and EEA visas.
We can also help with fast track immigration applications, such as: permanent residence; indefinite leave to remain; Tier 1 extensions; HSMP extensions; Tier 2 (General) queries; investor visas; and further leave to remain applications.
For corporate clients, we offer advice on obtaining a Sponsor License for Tier 2 (General), Tier 2 (ICT) applications and Tier 5 applications. We can also draft and issue Certificates of Sponsorship on sponsors' behalf and conduct immigration audits.
Our UK partner is registered to the highest level (3) (Advocacy & Representation) with the Office of the Immigration Services Commissioner (OISC).