The fastest state for citizenship is Vanuatu’s family of four citizenship states. Before and after the outbreak of COVID-19, more and more wealthy people are immigrating to tax havens due to infectious diseases, soaring prices, and taxes. In particular, immigration to Pacific and Caribbean island countries, which are relatively inexpensive and offer various incentives, is increasing significantly. Countries that are granted citizenship within only one month after the decision to immigrate to investment are attracting attention as some countries give citizenship to up to four family members if only one person decides to immigrate. According to Hanley & Partners, an international exchange company, 120,000 millionaires around the world chose to immigrate last year. Immigrants in Korea are also increasing significantly again after the end of the COVID-19 pandemic. According to immigration statistics from the Ministry of Justice, 28,686 people left or lost their Korean nationality in 2022, a 12.1% increase from the previous year.
In particular, unlike Australia, the U.S., and Canada, which cost around $1 million in investment immigration, South Pacific island countries where citizenship comes out in a month with only $100,000 to $200,000 in investment are gaining popularity as major immigration destinations. These countries are tax havens, attracting “national shoppers” with their mild climate and pleasant living conditions throughout the year.
The South Pacific island of Vanuatu is the fastest country in the world to acquire citizenship. If you donate $130,000 per person to the government and wait for about a month, you can receive honorary citizenship. There is no “mandatory period of residence” for a certain period of time to obtain citizenship, and there are no required educational or language conditions. The Vanuatu passport allows 98 countries to enter without a visa. Vanuatu is also called a must-visit bucket list country for divers because its average annual temperature is warm, with 20-30 degrees Celsius, and its beautiful coral reefs are famous. Another advantage is that it has a relatively low language barrier compared to other countries as English and French are used as official languages as it has been ruled by the UK and France. It is also considered a “tax paradise” with 0% corporate tax, real estate acquisition tax, and property tax.
Visa-free ‘Grenada’ citizenship in 147 countries
Grenada, located in the southern Caribbean, is attracting attention because it has natural scenery such as valleys, forests, and hot springs. It is also nicknamed the island of spices by producing and exporting various spices such as nutmeg and cinnamon. Grenada can receive citizenship over a period of four to six months if it invests $220,000 in government-approved real estate or contributes $150,000 to a government fund. There is no condition that citizenship can be granted if you live for a certain period of time.
Grenada has relatively more passport power than other island countries, allowing people to travel to 147 countries without a visa if they acquire citizenship. Above all, it is popular with Chinese people and those who do business based on the Chinese market because they can go to China without a visa. Because it was British territory, English is used as an official language, and it is also advantageous to be able to inherit citizenship. With a single national shopping price and a package of 4 family members… “Anti is Barbuda”
Antigua and Barbuda, another Caribbean island, is famous for having so many beaches that you can’t see everything even if you go around one place every day for a year. It is also famous for being an island where famous celebrities from abroad hold parties and other events. In the case of Antigua and Barbuda, you can buy a real estate worth $400,000 or donate $100,000 to the government. It is popular as a family-level investment immigration destination because if one person makes a donation, citizenship is granted to the investor and up to four of his family members. Instead, there is a condition that you must maintain your investment for five years and live in Antigua and Barbuda for at least five days each year for the first five years after acquiring citizenship. St. Kitts and Nevis, whose official language is “English” and language barrier is low, is an island country that became independent of British rule in 1983. Unlike Europe, the barrier to language is low because the official language is English. It is also a place where 600,000 tourists visit every year because there are many cultural heritages. St. Kitts and Nevis can acquire citizenship over about six months by purchasing real estate from a developer for $400,000 and maintaining investment for seven years, or donating $250,000 to the government or public projects.Most of all, these coastal countries are popular for their overwhelmingly cheap prices compared to their existing immigration countries such as Europe, Australia, and Canada. For example, Malta, the most popular investment destination in Europe, requires the purchase of real estate worth 700,000 euros and payment of 600,000 euros to the government to obtain citizenship. You must donate 100,000 euros to a charity in Malta to meet the requirements. You must spend 2 billion won to obtain citizenship. Even the government payment of 600,000 euros will not apply for citizenship until three years later, and the payment will go up to 750,000 euros to start applying for citizenship a year later.
JENNIFER KIM
US ASIA JOURNAL
