Easy Second passport for Russians: changing trends in demands from Russians
Over the last two decades, the rise of high net worth individuals (HNWI) in Russia made it necessary for the higher demand for citizenship by investment programs. Having a summer home, operating an overseas business, and ensuring unrestricted access to the best education has been the decisive factors for wealthy Russians to choose another residence. However, Russians have many motives, pushing them to invest in and get a second passport, mostly from European countries.
Reasons for the demand for second citizenship among Russians.
However, according to the sources, the second passport and residency permit have never been the driving force for wealthy Russians earlier. In most cases, purchasing a summer home for personal reasons got a residency permit automatically as a bonus. But the trend altered as the country faced political and social instability. State-led restrictions and disregard for individual liberty made Russians accumulate their wealth and look for options outside the country.
Wealthy Russians have desired citizenship by investment programs to escape the strict laws.
Along with that, wealth management decisions like capital growth, privacy, asset protection, political interference, income return, and portfolio diversification make legitimate motivations to make investment citizenship favorable to Russians.
Earlier, the citizenship by investment programs of countries like Malta and Cyprus were popular among ultra-wealthy Russians. These countries allow their citizens to live, work, and study in any of the 28 provinces of the European Union. Canada and the USA are equally attractive when it comes to a second home for Russians. Moving to these countries enabled families to move and enroll their children in the best institutes for studies.
Undoubtedly, the pandemic has made the HNWIs of the entire world look for an alternative place of residence and business. Russians also made a considerable percentage of the demand for citizenship by investment programs. Then came the war, and world dynamics shifted dramatically!
Is the world answering this demand?
The demand for citizenship by investment further rose after February 2022, when the war with Ukraine became imminent. However, since the war started, industry trend has been rather noticeable regarding Russians.
International criticism of Russian State policy because of the ongoing war has led many countries, including most of Europe and Canada, to sanction Russian immigrants. The USA, however, has not completely banned Russians, but sanctions have been imposed.
Many have barred Russians from entering their country entirely. In addition, CBI countries like Greece, Malta, and Portugal have also banned Russian investors.
Caribbean countries offering citizenship by investment have joined the western countries in sanctioning the war supporting Russia and Belarus. As a result, St Kitts and Nevis, Grenada, Dominica, and Antigua and Barbuda had suspended applications from Russian investors.
The official reason for this temporary suspension is the inability to conduct proper due diligence at the moment because of the war.
Grenada open for Russians
Coincidentally, Grenada was the first to have dismissed Russian Applicants for the inability of proper due diligence. Their CBI program is also the first one to have lifted the ban. So Russians can now apply for second citizenship of the country. However, the government plans to take precautionary measures by adding a scrutiny approach to Russian Applicants.
More Caribbean Countries are likely to follow suit as the number of concerned applicants is rising.
CHECKOUT VIDEO TO LEARN WHY GRENADA PASSPORT IS THE BEST SECOND PASSPORT FOR RUSSIANS
How can Russians get a second passport amidst sanctions?
Since Grenada has started the process, all the Russian applicants must do is get their profile examined by our advisor for a free eligibility check. Once the first step is done, the next process is hassle-free.
The CBI investment for Grenadian Citizenship is-
USD 150,000 as a donation to the Grenada National Transformation Fund
A minimum USD 220,000 investment in Real Estate, with an additional $50,000 government fee.
For further assistance and information regarding available citizenship channels for Russian citizens, applicants can book a free consultation by contacting here.
CTrustGlobal is a Government recognized and Authorized Immigration and Investment Program agent, representative, promoter and marketer. We are the leading name in providing investor immigration services as per the guidelines offered by The Governments of the Dominica, Grenada, Saint Lucia, Antigua & Barbuda and Saint Kitts & Nevis and Cyprus.
In the past, some applicants adopted a "financial sponsorship" approach, where a third party covered part or all of the SISC contribution on behalf of the applicant. This practice is now disallowed by the St Kitts and Nevis Citizenship by Investment Unit (CIU). As of a recent announcement, "financially sponsored" applications are no longer accepted by the Unit.
St. Kitts and Nevis, a serene Caribbean haven, extends its citizenship by investment program to global investors seeking a second passport. Established in 1984, this reputable program enables passport holders to access over 150 countries visa-free or with visa-on-arrival status, including influential destinations like the UK, EU, and Canada. Yet, eligibility for the St. Kitts […]
As of August 2023, Dominica has been added to the list of countries whose citizens need a visa to enter the UK. U.S. citizens who hold dual citizenship with Dominica should apply for a UK visa before traveling to the UK.
In a move to prioritize national security, defense, and public safety, the government of Saint Christopher and Nevis has implemented crucial changes to its citizenship by investment process. According to the latest regulations, citizens and individuals ordinarily residing in specific countries will now be excluded from applying for citizenship in St. Kitts & Nevis. The […]
We provide Citizenship by Investment, Residence by Investment and Second Passport Programs for Caribbean countries and beyond.
Apply for your next Citizenship and get the best protection for life, money and freedom in just a few months time.
Start your application directly from the comfort of your home.