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- July 13, 2022
Explore Your Options for UK Scraps Investor Visa
The United Kingdom has scrapped its so-called “golden visa” scheme for wealthy overseas investors, in a bid to clamp down on money laundering. The British government announced that it will be eliminating its Tier One Investor Visa program. The program had come under fire for the impression that it was a viable method for illicit money to enter the country. Let us take a look at what an Immigration attorney in Los Angeles explains.
When compared to other nations’ residency and citizenship by investment schemes, the UK Investor Visa program was rather costly. The minimum Business immigration investment amount began at £2 million, which is approximately five times more than the comparable US program, the EB-5 Immigrant Investment Visa Program. Investors who wanted to stay in the UK beyond three years had the choice of investing more money to reduce the time they would have to wait before being granted.
EB-5 Investor Visa of the USA
Because the UK investor visa was so expensive, only a few hundred people each year applied for it. This is in stark contrast to the EB-5 investor visa in the United States, which attracts hundreds of applicants and usually meets its annual allocation of 10,000 visas as a result of a huge logjam of Chinese candidates.
Grenada Citizenship by Investment
The archipelago of Grenada in the Caribbean has one of the most inexpensive citizenship or residency options in the world. For a gift or an investment of $150,000, Grenadian citizenship is available for just $150,000. It takes less than three months to complete an application. Grenada has a strong passport and is part of the E-2 Treaty with the United States. There is no tax on income earned outside of its jurisdiction.
Investing in Turkey’s Citizenship
In exchange for a $250,000 investment in real estate or holding deposits in excess of $500,000 with a Turkish bank for at least three years, you may acquire Turkish citizenship in roughly 6 months. Turkey is a huge transportation center and has an E-2 Treaty with the United States. This means that, like Grenada, you may become eligible for a US E-2 Visa by first obtaining Turkish citizenship.
Italy Investor Visa
Investors who invest at least €250,000 in Italy may be eligible for an investor visa. The majority of our clients, on the other hand, choose the elective residency visa, which permits you to reside in Italy if you have $32,000 per year from income generated outside of the country to help you. Italy also has a flat income tax rate for high-net-worth individuals.
How Di Martino Law Group can help you find out the right visa for you?
If you are interested in any of the investor visa programs discussed above, or if you would like to explore your options for residency or citizenship by investment, Contact Di Martino Law Group. Our firm has extensive experience of over 40 years with these types of visas and can help you navigate the process without any stress.
We operate on both sides of the Atlantic with our offices in California and Rome (Italy). We have a bilingual team of experienced Immigration attorneys in Los Angeles who can help you with your residency or citizenship by investment application. Contact us today for a consultation to see how we can help you.