RIF Trust on Becoming a European National Through RCBI
Mimoun Assraoui, RIF Trust CEO, has years of experience guiding HNWI clients to securing EU citizenship: “There is a Citizenship by Investment shortcut available to investors craving European Union citizenship.”
“If you don’t mind waiting, there are also some longer Residency by Citizenship routes available,” he expands.
Our CEO concludes: “This article will walk you through both the quick and slower paths to becoming a national of the European Union. Where European Union residency allows you to travel through the 29 countries making up the Schengen area, EU citizenship allows you to work in any of them.”
Direct EU Citizenship
There is only one European Citizenship by Investment program. This is available in Malta and Malta only. Its name is Maltese Exceptional Investor Naturalization (MEIN).
The first eligibility requirement is to show evidence of residence in Malta. You will make an exceptional direct investment of €600,000 for 36 months. This increases to €750,000 for 12 months.
There is a real estate component to this EU citizenship program. You will need to buy a residential property in Malta worth at least €700,000 or rent one for a minimum €16,000 a year. This real estate commitment must be made for at least 5 years.
Finally, in order to receive your certificate of naturalization, you need to make a donation. This is for a minimum €10,000. The donation benefits philanthropic, cultural, sport, scientific, animal welfare or artistic non-governmental organization or societies.
The Greek Golden Visa Way to European Union Citizenship
You can claim EU citizenship indirectly by investing in a Greek Golden Visa. This Residency by Investment program requires a minimum $250,000 investment. This threshold relates to converted or restored real estate.
After investing, you receive a five-year residency permit. This is renewable for long as you hold onto the qualifying property. Or you can secure Greek citizenship with 7 years of continuous residency.
By 7 years, you do not need to live in Greece full time. You must not have been absent for more than six consecutive months or 10 months in total.
Lastly, Greece needs to see proof of your integration into the country. There is a written exam about Greek culture, history, and language with an 80% score required for a pass. Then you will have an oral interview to confirm your eligibility.
EU Citizenship Via the Portuguese Golden Visa
The Portuguese Golden Visa is another European Residency by Investment route to EU citizenship. The lowest entry point is a €325,000 investment. Investing in a venture capital fund has become the most popular option.
Article 90-A governs this Residence Permit for investment purposes. You can live and work in Portugal by spending 7 days in the country within the first year of residency. After that, you need to commit to 14 days for every subsequent two years.
Portugal’s Nationality Act allows you to apply for Portuguese citizenship through naturalization. You can do so 5 years after you first apply for the Portuguese Golden Visa.
You have to pass CIPLE (Certificado Inicial de Português Língua Estrangeira). This is an A2 language test. It shows that you possess basic communication skills to use in everyday situations.
Naturalizing as a European Union Citizen with the Spanish Golden Visa
One last avenue to EU citizenship is the Spanish Golden Visa. This includes a real estate option that attracts the majority of investors. The minimum amount of investment is €350,000.
Just as in Greece and Portugal, there has to be a physical link between you and Spain. This is 10 years of continuous legal residency generally. It’s 2 if you come from Latin America or the Philippines.
The definition of continuous legal residency is similar to how it is in Greece. As in not spending more than 6 months a year out of Spain.
There are 2 tests set by the Instituto Cervantes. One relates to Spanish language and the other to constitutional and sociocultural matters. Then you have to swear an oath of allegiance to the King and obedience of the Spanish Constitution and laws.
Become a European National and Improve Your Passport Power
Our Passport Index is the leading barometer of travel documents. It’s the only index that updates on a monthly basis. This gives you the best indication of a passport’s strength.
Our current number one travel document is the Spanish passport. Effectively by holding this travel document you will be able to enter 183 destinations without a visa. However, we define these visa-free countries as 126 purely visa-free destinations, 31 requiring a visa on arrival, and 26 visitable with an eVisa.
The Greek passport and Portuguese passport share third spot. Both travel documents entitle the holder to secure entry to 181 “visa-free destinations”. In our view, the Portuguese passport is slightly stronger as 124 of these countries are purely visa-free destinations compared to its Greek counterpart’s 124.
In a respectable 8th position is the Maltese passport. This gives you access to 122 purely visa-free countries, 29 requiring a visa on arrival, and 25 an eVisa. All of these add up to 176 “visa-free destinations”.
Choosing the EU Citizenship Route That’s Right for You
Before committing to a program, you’re going to want to weigh up how it compares to its rivals and not only in terms of the strength of passport. This is where an expert consultation with a Residency and Citizenship by Investment specialist like RIF Trust will steer you in the right direction. So, contact us now, and we’ll show you how to apply for a new residency or second citizenship today without delay.
