Crypto investments have been a hot topic in the last couple of years. Many people earned wealth through this investment scheme, and many more got inspired to invest in digital currencies. But what’s the situation really like on the trade markets? Is it possible to obtain dual citizenship through crypto investments?
Is Vanuatu the only country that offers benefits for crypto enthusiasts? While the media portrays Vanuatu as the only country worldwide where you can obtain citizenship through bitcoin, the truth is that you need to convert the digital currency into US dollars before investing in the citizenship application process.
This brief guide will discuss the latest news related to investments, crypto, and dual citizenship. Stay tuned to learn whether you can get a second passport, and if so, which countries allow it?
Caribbean CBI Programs
The Caribbean CBI programs offer various investment options where you can apply for alternative citizenship and get the passport within 6 months, depending on the country you’re applying to. For example, the St. Lucian citizenship by investment program is one of the Caribbean programs that has a fast and straightforward application process where you can get a second passport.
The benefits of obtaining a Caribbean passport include visa-free traveling to more than a hundred countries, tax benefits, access to better healthcare and education systems, the right to own two passports, etc.
While these investment options are popular among investors and wealthy individuals, the fuss about crypto investments is getting around people’s minds. Investing in a second passport through a CBI program is the fastest and most reliable way to protect your digital assets. According to authorized agencies and investment companies, the best CBI programs for crypto investors are St. Kitts and Nevis, Antigua and Barbuda, Dominica, and Vanuatu.
Before we go any deeper into the topic, it’s crucial to remember that governments do not allow the transfer of crypto transactions into their accounts. Still, it’s possible to use the services of the CBI program providers and invest in dual citizenship.
St. Kitts and Nevis
The St. Kitts’ program allows you to make a one-time donation to the Sustainable Growth Fund for a minimum of $150,000 or invest in real estate for a minimum of $200,000. The real estate investment can be in hotels, apartments under construction, or luxury resorts. However, if you own crypto assets and want to invest in dual citizenship, first, you need to convert the digital currency into US dollars and then make a payment.
Remember – This applies to all of the countries mentioned!
The Vanuatu CBI program allows a non-refundable investment of a minimum of $130,000 to a government fund. It’s the only investment option to become a citizen of the Commonwealth Member Country.
As a citizen of Vanuatu, you can get your children or yourself to study at British universities. And the best part is you don’t need to stay in the country during the application process.
Antigua and Barbuda
Antigua and Barbuda offers three investment options: a donation to the National Development Fund of a minimum of $100,000, an investment in real estate – of $200,000, or investing in the University of the West Indies – of $150,000.
If you choose the latter option, your children can study for free for a year at that university. And you’ll get favorable tax benefits.
The advantages of buying a second passport with bitcoins are:
- Obtaining dual citizenship;
- Become a citizen of a country with crypto-friendly tax laws;
- Be protected in case of currency devaluation;
According to Russian Law, cryptocurrency is legal, and citizens can trade on the market. However, they cannot use currency as a payment method for services or goods. This is considered quite controversial in the country despite its legal status. The Central Bank of China banned all crypto transactions, which complicated things even more.
The USA, on the other hand, allowed its residents to use crypto for trading, purchasing, or selling services and goods. This led to the rise of the bitcoin price by $16,000 in one week.
According to experts, cryptocurrency will become a unique currency worldwide, and the CBI programs, especially those in the Caribbean region, will accept it as a payment method within a 5-year timeframe. So far, we can only wait and see if this becomes a reality and relocate our assets into the digital world.
Visit our blog for more information regarding crypto, the latest news on the trade market, the best CBI programs, and how to find the right authorized agency when applying for a second passport.
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