An EU passport provides many benefits including travel, education, safety, business, and healthcare to name a few. For either personal or business reasons some people need to acquire an EU passport.
Many types of avenues and programs are available but for those who do not have years and years of time to gain citizenship in an EU country here is how to acquire a European passport in less than a year.
One way to gain a European passport quickly is to explore your ancestry and decent. If you can prove that you have parents, grandparents or even great grandparents from an EU country such as Hungary, Ireland, Italy, Poland it is possible to gain an EU passport.
This is known as “Jus sanguinis” it is a principle of national law in which citizenship is determined or acquired by the nationality or ethnicity of one or both parents.
Gaining European citizenship vis this route should be considered as a first option as it is cost-effective with only government administration fees to pay and ultimately it is very quick with most passports being issued within just a few months.
For those who do not have ancestors from Europe, an alternative quick option is citizenship by investment. Citizenship by Investment programs allows those who invest a certain amount of money into a country via government bonds, donations or real estate to gain a passport.
Many programs exist all over the world with variations on the procedure. For those who wish for quick track programs and access to the EU Cyprus and Malta should be considered.
The Cyprus Investment program grants a limit of 700 passports a year. The EU passport provides access to 173 countries visa-free. Many business orientated people chose the Cyprus program as the location is ideal for international business and boasts favourable tax, as well as this the majority of the population speak English. The program requires an investment of €2 million ($2,223,500.00) in new real estate Applicants are required to possess a Schengen visa when applying. The process of gaining citizenship takes roughly 6 months.
The Malta passport grants access to the EU and also visa-free travel to the US. To gain citizenship and a passport the process requires a number of investments into government bonds and donations that all together add up to a cost of €650,000 ($722637). The application process takes 6 months.
The above options are ideal for those who are seeking an EU passport in less than a year.
Disclaimer: HighWorthCitizen.com is not intended to provide legal, tax or investment advice, and nothing on HighWorthCitizen.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by HighWorthCitizen.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.
Image source by The Srpska Times