What is Citizenship by Investment?
Citizenship by investment Program
is also known as receiving second passport of another country.
Some countries in the world allow holding two citizenships or dual citizenship. However, under article 9 of the Indian constitution, Indian citizens cannot hold dual citizenship. As soon an Indian citizen becomes a citizen of another country, he/she must surrender his/her passport to the Indian government.
Indian citizens who choose to become citizens of another country can apply for an Overseas Citizen of India (OCI) Card which allows them to visit India without a visa and stay as long as they wish to without reporting to any government authority in India.
Many countries around the world offer a Citizenship by Investment program whereby foreign nationals can obtain citizenship of their country by making an investment in an old or new business or real estate or by making a donation to the government or investing in financial products such as shares, bank deposits government bonds and funds.
How much money can Indian citizens remit outside of India?
As per the Liberalized Remittance Scheme (LRS) introduced by the RBI, Indian citizens can remit up to US$ 250,000 per year per person.
Which countries offer Citizenship by Investment programs?
The following countries offer Citizenship by Investment programs:
European countries: Malta, Bulgaria and Montenegro
Caribbean countries: St Kitts and Nevis, Grenada, Dominica, St Lucia & Antigua & Barbuda
Mediterranean country: Turkey