Second Citizenship Passport Requests Soar In UAE & GCC
Some entrepreneurs who wish to do business in foreign markets and take their businesses to new heights may feel certain regions are off limits or restricted. However much your business is flourishing, being a passport holder of a specific country can cause obstacles. In the past, the only way to hold a widely accepted passport would be to be a resident of that country for a particular time or have some family lineage which can be proven to the authorities.
Things are no longer traditional and the new age sees certain restrictions give way to new methods. There is an alternative to obtaining a second passport which is referred to as citizenship by investment. This is a practice accepted by the international business community and is one of the quickest and most convenient ways to obtain a second passport. And the process to gain citizenship by investment is proving popular to entrepreneurs in the U.A.E and G.C.C who want to gain access to lucrative markets, particularly in the European Union.
Many countries in the European Union offer a second passport scheme. Each program operates on a different criteria and time frame. The general concept of the scheme is that investors need to make an investment in terms of local bank deposits, real estate investment and government bonds. It is good to note that the process is not something entrepreneurs should take on themselves. It can be quite lengthy. For this purpose, people can seek professional assistance. An expert consultant from Bayat Legal Services can guide you from start to finish and provide support through the process. Bayat Legal Services will ensure the relevant documents are filed with the proper regulatory bodies and that all requirements are met.
The quickest to grant citizenship is Cyprus which takes just three months. Permanent residency in Bulgaria can be obtained within six months. The country also offers a fast track application to full citizenship. In most cases, residency does not require the applicant to live in the chosen country permanently. Portugal requires the applicant spends one week every year in the first six years.
There are endless benefits to obtaining a second passport. It grants the right for the holder to live and work anywhere within the European Union minus visa requirements. The passport allows entrepreneurs to travel to over 100 plus countries which includes the United Kingdom. As a natural born citizen, the holder too enjoys the same rights and can access educational and social welfare benefits in 28 countries within the European Union.
With in-depth practical knowledge and expertise, Bayat Legal Services has over two decades of experience offering business men immigration and visa services. With the complexity of regulations and policies constantly changing over time, unless a professional prepares your application there can be unnecessary delays with disastrous results. With practical knowledge pertaining to business immigration programs, Bayat Legal Services is able to deliver effective legal solutions to all your immigration problems.