As the world scrambles to contain the COVID-19 virus, we’ve seen how each country closes its international borders. Most businesses have also gone bankrupt due to lockdowns. How can you, an ex-pat, protect yourself from the health and economic repercussions of this pandemic? Here is the blessing in disguise benefits you can get from availing citizenship and residency by investment.
Benefits You Can Get from Having Citizenship and Residency by Investment in Times of Crisis
We all know that having a permanent visa, dual citizenship, or second passport offers amazing perks. It gives you more opportunities to travel internationally more easily. You can also set up a business in your chosen host country. Most of all, to live there and avail every privilege the Government offers to its bonafide citizens.
However, having citizenship and residency by investment not only helps you in reaping these exciting things. It also helps protect you and your family’s life, your wealth, business, assets, and investments in times of crisis (such as COVID-19). Should your native country and government fail to provide and protect you, you can always count on your second government to protect you.
We call this a security fall back for you. Moreover, having citizenship and residency by investment also protects you in other crises you never anticipated. Examples of this are changes in the political and economic environment. Here, we’ll lay out how CIP and RIP protect you in times of crisis.
How Citizenship and Residency by Investment Protects You in Times of Crisis
Having a permanent visa to a second country helps you access some of the host country’s core services. For example, you’ll still be free to travel and go back to your second country anytime as you please. Despite the lockdowns, travel bans and restrictions imposed by most countries, long-term residents are still welcome to travel and go back.
Since most businesses have closed down and layoffs are everywhere, being a residence visa entitles you to avail of the economic stimulus packages. This means the government can give you financial assistance in times of crisis.
Businesses can also file to request financial aid from the government. Most of all, you and your family will have security over your health. Since COVID-19 is a deadly pandemic virus, you can have access to state-of-the-art hospitals and healthcare services. In any case, you get infected, you’re assured to avail the best health treatment to battle the disease.
Meanwhile, having citizenship and residency by investment also entitles you to more benefits. Having a second passport not only entitles you to travel and go back to your second country; it also helps you reside in any country you want.
For example, let’s say you don’t want to go back to Italy and Spain due to their high COVID-19 cases. You can opt to stay in Cyprus (or any other country you want) due to their low cases (214 as of March 30, 2020).
Business and Economic Opportunities of Citizenship and Residency by Investment
And since your business is down in your second country, you can set up an online overseas operation wherever you are. Like in the example above, you can set up a business in Cyprus to help cope with your economic loss.
Not only that, but you’re also entitled to open up bank accounts, deposits, and investments. This means you can transfer your investments and finances and protect them from any more loss.
Having citizenship by investment grants you ease of travel and entrepreneurship opportunities wherever you go for your own safety. Moreover, it also protects you against your native government.; as it offers an opportunity for a getaway or exit strategy for you.
Spending more money in times of crisis might be risky, but the immigration experts say this is the best time for you. Availing this service can help protect your hard-earned business, wealth, and health in these challenging times.
If you’re interested, check out our citizenship and residency by investment programs here. Talk to our experts to determine the best options to protect your family, your assets, and grow your wealth.