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Video Which Countries Sell Citizenship? (Sale trade iceland)
When Can You Be Stripped Of Your Citizenship? Subscribe! m/1iLOHml A person can gain citizenship by birth, marriage.
Citizenship is one of the few rights that ostensibly everyone gets just for the sakeof being born. Although there are other avenues to becoming a citizen, like marriage or employment,those are often arduous and often unsuccessful. But in a handful of countries, getting citizenshipis actually quite simple - it’s as easy as writing a check. So, we wanted to know,where can you buy citizenship?Well, as of 2016, nine countries are effectively selling citizenship. Most are small islandsin the Caribbean and the Mediterranean, and all are relatively cash-strapped. Allowingforeigners to buy citizenship has the obvious effect of raising the country’s GDP, butit can also culminate in long-term economic prosperity through investments in housingand infrastructure. With that in mind, many countries have made it easy and even affordablefor people to buy their way in.The cheapest option is the Caribbean island of Dominica [dah-mee-NEE-ka], where citizenshipcan be purchased for just 100 thousand dollars or a real estate investment of at least 200thousand dollars. This program has existed for more than 20 years, however it becameparticularly important to Dominica in 2015, after a tropical storm wiped out roughly 90percent of the country’s GDP. Today, citizenship sales are one of the country’s primary sourcesof revenue, however the program is said to be mismanaged, and public officials have beenaccused of pocketing much of the profits.A similar program exists nearby in St. Kitts and [KNEE-viss] Nevis— two tiny Caribbeanislands that form one nation. Like Dominica, St. Kitts’ relied on citizenship sales aftera series of hurricanes decimated their economy in the late 1990’s. Today, citizenship canbe procured for a 0,000 dollar flat rate or a 0,000 dollar real estate investment.The deal also includes visa-free travel to
the roughly 130 countries that accept a St.Kitts passport. At one point, St. Kitts was selling an estimated two thousand passportsa year, and as a result, the country was seeing rapid development. However, sales have plummetedsince 2014, when Canada and the US issued warnings about the program. For example, businesspeoplehave reportedly used visa-free travel through those passports to avoid international sanctionsor flee a country where they were wanted for a crime.This concept is not unique to far-flung island nations. In fact, a dozen other nations, includingthe US, offer permanent residency, or “golden visas”, to foreigners who invest in property,businesses or public assets. However, the price tag is usually much higher. The UnitedKingdom, for example, requires minimum investment of nearly million dollars. Golden Visaprograms are extremely popular among wealthy Chinese nationals seeking to invest in offshorereal estate.So, what makes dual citizenship so attractive? Well, for people from countries that facetravel restrictions, an alternative passport opens up an entirely new world of visa-freetravel. For wealthy Americans, citizenship in St. Kitts or Dominica can mean huge savings,as neither country taxes foreign income or capital gains. So despite the high cost ofcitizenship, it may be more financially beneficial that it seems.But having citizenship is not infallible, nearly every country has strict rules aboutwhen they can strip you of your citizenship. To learn about what kind of actions, includingtreason and terrorism, can make you lose citizenship, check out this video. Thanks for watching Seeker Daily, don’t forget to likeand subscribe for new videos every day!
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