Q3 2020

10 EU BUSINESS NEWS / Q3 2020 , Speedy Turnaround The quickest Golden Visa investment nations for a second wave bolthole, research by Astons shows. Recent research undertaken by Astons, the alternative residency and citizenship acquisition experts, has revealed which nations offer the quickest timeframe to securing citizenship when it comes to investing across the EU and Caribbean. It takes an average of five and a half years to secure citizenship in the UK. Still, even when opting for the quicker route of investing to gain citizenship, you are required first to hold residency as is the case in several countries. However, some nations allow you to skip the residency stage and gain direct citizenship straight away when investing. Whether you’re looking for a secluded bolthole to sit tight while Covid-19 blows over, or you’re eyeing EU citizenship for when (if) Brexit finally happens, Aston’s has highlighted 14 nations where you can do just that and in the quickest timeframe. The quickest of the lot is the island nation of Vanuatu in the South Pacific Ocean with an estimated population of just over 300,000 people. Not only is it the quickest with the average timeframe of securing citizenship through investment currently just 30 days, but it’s also one of the best value with a minimum investment of £99,416. If a COVID Caribbean safe haven is more your style, Saint Kitts and Nevis in the West Indies is your best bet. With a minimum investment of £114,710, it’s not only one of the better value, but with an average time of just 53 days to gain citizenship, it’s the second quickest of all 14 nations. Turkey (61 days), Dominica (76 days) and Jordan (76 days) are also amongst some of the quickest. However, for those with an eye on EU citizenship, Montenegro offers the quickest route to success. On average it takes just 91 days to gain direct citizenship and an EU passport, with the nation only requiring a minimum investment of £316,771. Other EU options include Cyprus (183 days) although some doubt has been cast over the transparency of the nation’s use of golden visas this week, Malta (425 days), Bulgaria (730 days) and Austria (912) days, although they require a considerably longer time frame and a much higher minimum investment. Managing Director of Astons, Arthur Sarkisian, commented: “During the current pandemic, we’ve seen a significant uplift in the number of individuals opting to invest in island nations such as Vanuatu and other locations across the Caribbean, in particular. Of course, these nations provide a strong pull in terms of the lifestyle and landscape, but they also offer a much quicker route to citizenship at a much lower cost. As a result, they’ve grown in popularity amongst those looking to bypass potential travel restrictions in the event of a second wave over the coming months, and this trend is likely to persist until the pandemic ends, at the very least.”