Time and again, we hear of Pakistanis leaving in large numbers for foreign shores. Often termed the ‘brain drain,’ the truth of the matter is that Pakistanis have been seeking employment and better lives in general since the creation of the country itself. In the 1950s and 60s, a wave of economic migrants moved towards European countries, especially the UK and Scandinavia. In the 1970s, the country experienced another wave of emigration towards the Middle East. However, more recently, as things have turned sour in the country, even the affluent have started to move abroad in quest, not so much for employment and other economic activities, but for residency and citizenship.
This blog is being written for those who are interested in seeking residency or citizenship of another country by investing in the following countries.
North Macedonia
A country in eastern Europe, North Macedonia offers citizenship to those who can fulfill the following:
- Invest €200,000 in a private investment fund, or
- Invest €400,000 in “new facilities” which does not include restaurants and shopping centers. The idea is to create at least 10 jobs that employ locals.
St. Kitts and Nevis
St. Kitts and Nevis is an island country in the Caribbean Sea. According to the official government website, there are three ways to qualify for the citizenship by investment program in St. Kitts and Nevis.
- Make a donation of $150,000 to the Sustainable Growth Fund, which aims to support growth in areas like healthcare, education, alternative energy, climate change resilience, and indigenous entrepreneurship.
- Contribute $175,000 to the program through the Alternative Investment Option.
- Invest at least $200,000 in an approved real estate project.
Grenada
Grenada is also an island country in the West Indies in the Caribbean Sea. The official government website of Grenada outlines two ways to qualify for its citizenship by investment program:
- Make a $150,000 contribution to the National Transformation Fund, which supports projects in sectors such as tourism, agriculture, and alternative energy.
- Purchase a property valued at a minimum of $220,000, with a requirement to hold it for a period of four years before it can be sold.
St. Lucia
St. Lucia is an island country in the West Indies in the Caribbean Sea. St. Lucia provides four investment options for obtaining citizenship:
- The most affordable choice is a $100,000 donation to the National Economic Fund of the island.
- Applicants can invest in real estate by purchasing property valued at a minimum of $300,000, which must be held for a period of five years without being sold.
- Another option is to invest at least $3.5 million in an approved enterprise project, such as restaurants, cruise ports, universities, or transportation infrastructure. These projects must generate a minimum of three permanent jobs in the local economy.
- Lastly, individuals can invest a minimum of $500,000 in government bonds, which are currently available at a 50% discount through the COVID-19 relief program.
Dominica
Dominica is another island nation in the Eastern Caribbean Sea. The Government of the Commonwealth of Dominica provides two pathways to qualify for Dominica’s citizenship by investment program:
- Make a donation of $100,000 to the island’s Economic Development Fund.
- Invest in approved development by purchasing real estate valued at $200,000.
Antigua and Barbuda
Antigua and Barbuda is an island country in the West Indies. According to the official government website, Antigua and Barbuda citizenship by investment program offers four qualifying options:
- The most affordable choice is a $100,000 donation to the country’s National Development Fund.
- Alternatively, applicants can donate $150,000 to the University of the West Indies.
- Another option is to invest in designated, officially approved real estate with a minimum value of $400,000, along with a $30,000 processing fee.
- The program’s most expensive option requires investing at least $1.5 million into an approved business on the island, along with a $30,000 fee.
Latvia
Latvia is a country situated on the Baltic Sea. It borders Russia, Estonia and Lithuania. Latvia’s golden visa program suspended its real estate investment option in January 2022. As a result, there are now three alternative investment routes for foreign nationals seeking a residency permit:
- Invest €50,000 in the equity capital of a Latvian company, along with a €10,000 contribution to the state budget.
- Purchase €250,000 worth of “special-purpose interest-free bonds” and contribute €38,000 to the state budget.
- Invest €280,000 in the subordinated capital of a Latvian bank for a period of five years, and make a €25,000 contribution to the state budget.
Panama
Panama is a country situated in Central America. Panama offers two main types of investor visas with varying requirements ranging from $40,000 to $750,000.
- The more affordable option is the “Panama Reforestation Visa Program,” which allows foreign investors to contribute $40,000 to an approved reforestation initiative recognized by the Ministry of Environment.
- Alternatively, individuals can choose the “Qualified Investor Program,” through which they can obtain permanent residence status by making an investment in one of the following ways: a real estate investment of $300,000, a stock exchange investment of $500,000, or a fixed-term bank deposit of $750,000.
Thailand
Thailand is a country situated in Southeast Asia. Thailand offers the “Elite Visa” membership program for eligible foreign investors, granting them a “Privilege Entry Visa” that remains valid for a period of up to 20 years.
The program, operated by Thailand Privilege Card Co., a state-owned enterprise within the country’s federal tourism agency, provides eight program options, including “elite flexible one” and “elite ultimate privilege.”
The minimum payment necessary to participate in the program is an application fee of approximately $19,000.
Portugal
Portugal is a country situated in Southwestern Europe. Portugal’s federal immigration agency offers eight distinct investment options:
- Transfer €1 million in capital to a Portuguese bank account.
- Create 10 job positions.
- Purchase real estate property valued at a minimum of €500,000.
- Purchase real estate property with construction dating back over 30 years or located in urban regeneration areas for at least €350,000.
- Contribute €350,000 to approved scientific research activities.
- Contribute €250,000 to approved artistic or cultural heritage initiatives.
- Transfer €350,000 in capital for the acquisition of investment fund or venture capital fund units.
- Invest €350,000 in a business headquartered in Portugal, combined with the creation of five permanent working jobs.
These 10 countries are still offering golden visas or golden passports to those who qualify. While most of these countries are in the Caribbean Sea, there are some situated in Europe, Central America, and East Asia. If you have the required sum to invest, you can seek further information from travel and visa service providers listed on OLX Pakistan.
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