Many of you might already be familiar with the citizenship by investment programs, and the possibility of acquiring a second passport in as little as 3-5 months.
But did you know that most of citizenship by investment programs impose restrictions on certain nationalities?
Most of the citizenship by investment programs already impose restrictions on certain nationalities; such as blanket restrictions (complete bans) on the citizens of certain countries or partial restrictions with enhanced due diligence on others. For example, Iranians are not eligible to apply for citizenship by investment program from most of the Caribbean countries.
While some of these restrictions have been in effect for a while, new restrictions and regulations are arising all the time. Just this week, we learned that Dominica introduced new restrictions on the citizens of Iran, North Korea, Sudan and Syria. The new restrictions state that applicants from the above countries must meet certain requirements to be able to apply and will be subjected to an enhanced due diligence process. 
And while we don’t know which nationalities could be facing restrictions next, we do know that the programs’ restrictions are on the rise and that the governments are facing more pressure than ever regarding their regulations and application approval process. Moreover, banks are also starting to impose their restrictions/regulations and doing their due diligence on applicants, increasing the duration for clearing funds.
Furthermore, acquiring a UK or Schengen visa is becoming more difficult and the application process is becoming more complicated. And if a person gets a visa rejection from the UK or any of the Schengen countries, their options for citizenship by investment programs will become very limited. Thus, posing a risk on their eligibility for a second passport.
With all that in mind, one thing is certain, this might be the best time for you to apply for a citizenship by investment program. In other words, apply before it is too late. Have a question? Don’t hesitate to ask. Contact us and speak with our professional consultants today to discuss your options for a second citizenship or residency.
