Everyone Wants A Second Passport: Here's How Much It Really Costs
Contributed by Harvey Law Group
12 January, 2021
You've probably heard of the benefits of having a second passport or a Golden Passport. You may have friends or relatives who have started the application process. You may even have colleagues who are already golden passport holders and are enjoying the perks of having dual citizenship.
But what does it really take to have one? More importantly, how much does it cost? Keep in mind that the cost of a second passport application will depend on several factors, including: chosen country, chosen investment. The benefits of each passport vary country by country.
Other things to consider:
- The number of eligible dependents that you want to include (i.e. children, spouse, parents). In Grenada, applicants can include their siblings as dependents.
- Age of dependents
- Type of consultant/agent or law firm that you hire Professional fees of the consultant/agent or law firm
Here are some of the countries that currently offer Citizenship-By-Investment programs and a simple projection of the expenses involved. Consider this as your overview and reference so you can make informed decisions when you apply for a second passport for you and your family.
There are two investment options for those who want to get their golden passports from Grenada.
- You can donate starting at USD 150,000 towards the direct advancement of Grenada's economy and infrastructure.
- You can invest in approved real estate projects starting at USD 220,000.00.
While Grenada is becoming increasingly trendy due to its new flights from the U.S. and the U.K. and fleet of celebrities, the hospitality industry has also been booming in the past years.
Known as the Caribbean's Spice Island, Grenada welcomed 528,077 stayover visitors in 2018 alone. This represents an impressive 12.90% increase in tourists from 2017 figures.
If you choose the real estate option, the investment will be for Six Senses La Sagesse Grenada in which you could take your family with you. example, if a family of four is making the leap, the expected costs start at USD 220,000 plus the professional legal fees.
If you choose the donation option and you're taking the entire family with you, the cost of getting a second passport in Grenada is about USD 229,000 plus professional legal fees.
Commonwealth of Dominica
Compared to other Caribbean islands, Dominica is also more secluded and less crowded, and you'll enjoy its peaceful vibe. But that doesn't mean there are no luxury resorts here. Dominica is dubbed as the Nature Island and if you want that luxury island life, this is perfect for you. That's why the Commonwealth of Dominica has several options for those who want to get a second passport here.
There are two investment options here:
- You can donate starting at USD 100,000.
- You can invest in real estate starting at USD 218,000. One of the most popular is the exclusive and already operational Secret Bay Resort.
Let's say you're applying for a family for 4, the donation option would probably cost around USD 220,000 while the luxury resort investment would cost around USD 280,000 excluding the professional legal fees.
Antigua & Barbuda
If you're looking for the most affordable option to get a second passport, Antigua & Barbuda's citizenship-by-investment program is your bet. Here are 2 opportunities:
- You can donate to the National Development Fund starting at USD 100,000.
- You can make an investment of USD 200,000 in one of the government-approved real estate projects.
A family of four can get a second passport and therefore new citizenships for approximately USD 142,000 plus professional legal fees via the donation option. The real estate option in Antigua is considered a prime investment and you will need about USD 575,000.
A Second Passport Is the Investment Of A Lifetime
Quite literally, if you're getting new citizenship, you really are making an investment of a lifetime. There are myriads of reasons why investing in a second passport could be beneficial for an applicant and his/her family.
HLG, Asia's Pioneer in Citizenship-By-Investment Programs
Established in 1992, HLG is one of the world's leading investment immigration law firms to become an authorized agent duly representing all citizenship-by-investment programs. Harvey Law Group (HLG) is a multinational law firm specializing in corporate law and investment immigration, with a worldwide reputation for representing high-profile clients and corporations. HLG was awarded the Immigration Law Firm of The Year at the Annual Macallan ALB Hong Kong Law Awards in 2014 and 2017. As Asia's pioneer in investment immigration, HLG has notably been offering immigration services for over 29 years.
HLG is headquartered in Hong Kong, with 22 offices worldwide including Thailand, Vietnam, France, Malaysia, Indonesia, Cambodia, the Philippines, Ivory Coast, South Africa, and more. Currently, HLG offers residency and citizenship-by-investment programs to 23 countries and counting.
Chat with us on www.harveylawcorporation.com
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