Citizenship by investment (CBI/CIP) programs have been more and more popular, along with with there arises certain confusion and problems since many applications do no ask very important questions when apply with their Agents.
Applicants who turn to CIP are mostly successful businessmen or financially independent persons most do not care for voting or welfare rights.
Any potential applicant before applying must ask his agent :
- What are Voting and welfare rights with CBI/CIP passport?
- Is Dual citizenship allowed between CBI jurisdiction and their home country? If not what are the consequences?
- Are there any applicants that lost their citizenship/passport and if yes did they got a refund?
- Is citizenship inherited and if not this applies only to him or to all the other family generations including new born child?
- What is the duration and validity of CBI passport?
- Are there any Residence requirements when renewing the expired passport?
- When passport expires can he apply in person to any diplomatic mission or he must do it through the agent? e. are at the renewal of passport any other fees involved more than 300$ and for what reason?
- Does CBI passport allow to open bank account in the jurisdiction and abroad?
- What are the Taxes involved in buying property, income tax or tax residency?
- After how many years real estate can be sold and is citizenship retainable after selling real estate?
- Are there any hidden fees involved when renewing the passport?