Which second European citizenship gives you the most benefits? - Expert advice from Immigrant Invest

On December 12th, 2024, the Council of the European Union ended the visa exemption agreement with Vanuatu.

Foreign nationals used to obtain Vanuatu citizenship for visa-free access to the Schengen Area. Now, they must apply for Schengen visas, while EU citizens continue to enter freely. This is one of the main benefits of European passports.

An Immigrant Invest expert outlines all the key advantages of European citizenship and identifies countries that offer simplified paths to it.
Our experts for the article: about Immigrant Invest
Immigrant Invest is a consulting company specialising in investment immigration since 2006. The company helps individuals worldwide obtain residency and citizenship, optimise taxes, and relocate to their ideal destination.

With a 99% success rate, Immigrant Invest ensures thorough Due Diligence and ongoing legal support for its clients.
What are the key benefits of European citizenship?
1. Visa-free travel. European passports rank among the most powerful globally. They enable visa-free or visa-on-arrival access to over 160 countries, including Schengen Area nations, the UK, the USA, and Japan.

Some European passports offer slightly more access than others. For example, Germany, Spain, Italy, Belgium, and Portugal allow visa-free entry to 172 countries; Malta, Slovenia, and Bulgaria offer access to 169 countries.

2. Relocation to Europe. European citizenship allows individuals to live, work, and study in their chosen country. EU citizens can also relocate freely within the European Union without restrictions.

3. Access to quality healthcare. European citizens benefit from some of the world's best healthcare systems, often subsidised or free. A European Health Insurance Card gives access to necessary medical care in other European Economic Area countries and Switzerland under the same terms as local residents.

4. Educational opportunities. Europe is home to top-tier universities with reduced or free tuition for citizens. Diplomas from EU universities are widely recognised in the EU, UK, USA, and beyond.

5. Social and welfare benefits. European citizens enjoy robust social security systems, including pensions, unemployment benefits, and family support programs. These systems provide a strong safety net.

6. Business advantages. European citizenship opens access to one of the world's largest economic zones. Citizens can start or expand businesses, access funding opportunities, and benefit from simplified regulations.

7. Consular protection. EU citizens can seek help from any EU embassy or consulate worldwide, even in countries where their home nation lacks representation. This ensures support in emergencies.
What are the other ways to obtain European citizenship?
The most common ways to obtain European citizenship are by birth, descent, marriage, or naturalisation.

Birth. Citizenship is automatically granted if a newborn has at least one parent who is a citizen, regardless of the child's birthplace.

Descent. Individuals with ancestral ties to a European country may qualify. Proof of lineage, such as birth certificates linking to a parent, grandparent, or sometimes a great-grandparent, is required.

Marriage. Marrying a citizen of a European country can lead to citizenship. Applicants typically need to prove the authenticity of the marriage, reside in the country for a specified time, and sometimes demonstrate language skills and cultural knowledge.

Naturalisation. This is the most common route for long-term residents. Requirements generally include:
living in the country for 5-10 years;
having a clean criminal record;
demonstrating financial self-sufficiency;
proving language proficiency and cultural integration.

Not all paths are accessible to everyone. Those without ancestry or a spouse who is a citizen may need to explore alternative options, such as citizenship by investment.

Is it possible to obtain European citizenship by investment?

No, Europe does not offer citizenship by investment https://immigrantinvest.com/citizenship-en/. It can only be obtained by birth, descent, marriage, or naturalisation, typically after a specified period of residence.

Malta provides citizenship by naturalisation for exceptional services by direct investment. Applicants can obtain a Maltese passport within:
1 year, with a €750,000 contribution;
3 years, with a €600,000 contribution.

Additional requirements include:
renting property for €16,000+ annually or purchasing real estate worth €700,000+;
donating €10,000 to a charitable organisation.

All conditions must be met, though applicants can choose between renting or purchasing property.

Countries like Portugal, Greece, and Cyprus offer residence by investment, commonly known as Golden Visas. These visas provide residency rights and may ease the path to citizenship over time.
Can we talk about these countries and how they simplify obtaining citizenship?
Definitely. Let's start with Portugal, the country with one of the easiest citizenship to get.

Portugal citizenship can be obtained in 5 years. Key benefits for investors include no requirement to live in Portugal and only a 7-day visit per year-a unique advantage for investors, and no need to pass a citizenship test.

Investment options for the Portugal Golden Visa include:
purchase of investment fund units - €500,000+;
support of arts and conservation of cultural heritage - €250,000+;
contribution to research activities - €500,000+;
business investment with the creation of at least 5 jobs - €500,000+;
opening a company with the creation of at least 10 jobs - no minimum investment requirement.

Cyprus allows Golden Visa holders to apply for citizenship after 5 years. However, the status granted through the Golden Visa is permanent residence, which is lifelong and does not require renewal, similar to citizenship. The status can be obtained in 9+ months.

While permanent residence offers the right to live, work, study, and receive healthcare in Cyprus, it does not include visa-free access to the Schengen Area.

The minimum investment for Cyprus permanent residence is €300,000, which must be allocated to one of the following:
residential property;
commercial property;
shares in Cypriot companies;
securities.

Greece. Obtaining Greece citizenship takes 7 years, which is longer than Portugal or Cyprus. Applicants must live in Greece for at least 183 days per year to qualify for a Greek passport.

There are 9 investment requirements for the Golden Visa:
a real estate purchase - €250,000 to €800,000;
a purchase of shares in mutual or alternative investment funds - €350,000+;
a 10-year lease of tourist accommodation - €400,000+;
a timeshare for tourist accommodation - €400,000+;
receiving real estate as inheritance or a gift - €400,000+;
opening a fixed-term deposit - €500,000+;
purchase of government bonds - €500,000+;
capital investment in Greek companies - €500,000+.
purchase of corporate and government bonds listed for trading - €800,000+;

While other European Golden Visa programs may not seem as appealing, there are noteworthy details worth considering.

Italy. The Italian government is considering reducing the naturalisation period from 10 years to 5 years. This change could make citizenship more accessible to investors and residents..

Spain. A child born in Spain to parents with residence permits can obtain citizenship if the family has lived in the country legally for at least a year after the child's birth.
In your opinion, what factors should I consider when choosing the best European citizenship?
Several key factors should guide the decision to ensure it aligns with personal, professional, and financial goals.

Timeframe. Assess how quickly citizenship can be obtained. Malta and Portugal offer expedited routes, while some countries, like the UAE, require extended residence periods of up to 30 years.

Tax implications. Understand how citizenship impacts global tax obligations. Some countries impose higher or lower taxes compared to your current jurisdiction. For example, Cyprus offers one of Europe's lowest corporate tax rates at 12.5%, benefiting entrepreneurs.

Check if the chosen country has double-tax treaties with your current country. These treaties prevent double taxation, ensuring you do not pay taxes in both jurisdictions.

Dual citizenship policies. Verify whether the chosen country allows dual citizenship and if it requires renouncing your current nationality. Ensure your current country also recognises dual citizenship. 

All countries mentioned above permit dual citizenship.

Cultural and linguistic factors. Evaluate how well the culture and language of the chosen country align with your preferences. Consider whether learning a new language or adapting to a new culture might be challenging.

Benefits of citizenship. Analyse how citizenship can enhance your lifestyle, business opportunities, and mobility. Compare the healthcare systems, education quality, and social benefits of various countries to find the best match for your goals.
Contact Immigrant Invest
Selecting the right European citizenship is a strategic decision that balances personal values with practical benefits. Seeking professional advice can help navigate this process effectively.

Contact Immigrant Invest to find the best European citizenship for you.

IMIN MALTA LIMITED
8/2, Portomaso Business Tower,
1, Church street, St. Julians,
STJ 4011, Malta

Contact information: Igor Buglo, +356 2033 0178, info@immigrantinvest.com

Immigrant Invest is a consulting company specialising in investment immigration since 2006. The company helps individuals worldwide obtain residency and citizenship, optimise taxes, and relocate to their ideal destination.
With a 99% success rate, Immigrant Invest ensures thorough Due Diligence and ongoing legal support for its clients.

This release was published on openPR.