CTrustGlobal: Citizenship by investment
Dr. Aly El Dakroury, CEO of CTrustGlobal, Dubai
CTrustGlobal is a one-step operation for citizenship and residence by investment in Caribbean and a host of other countries
Published: Sat 31 Mar 2018, 12:49 PM
CTrustGlobal is a trusted name when it comes to immigrating to new horizons. It passionately deals with its clients and one can rely on their legal and procedural norms and judgment. It believes goodwill to be an asset, and the successful clients are its ambassadors-at-large. All you need to do is to get in touch with CTrustGlobal and relish the world-class experience of immigration and consultancy services.
Excerpts from an interview with Dr. Aly El Dakroury, CEO of CTrustGlobal, Dubai:
Is there a growing demand for citizenship-by-investment schemes among residents of the UAE?
The political unrest in Middle Eastern countries, strict visa policy, immigration regulations and various other reasons have propelled a considerable spike in the demand of citizenship by investment programmes among the UAE expats. The growing number of clients across industry is evident in the last quarter of 2017 and the first two months of 2018. CTrustGlobal believes that the main reason for the growing numbers is the low cost ($150,000) at which a family of four can secure the citizenship of Saint Kitts and Nevis. While, until the third quarter of 2017, it would have cost more than $300,000.
Similar thing happened with Dominica Citizenship by investment programme, which gained a sudden momentum after the revision in its CIB act in 2017. A large part of the clientele of CTrustGlobal's Dubai outlet are those struggling with issues like visa restrictions, business expansion and most importantly, families' safety. Of the total increase, Syrians (30%), Yemeni (19%) Lebanese (10%) make up for most of clients. Rest are Russians, Chinese and Indians and Pakistani residents in the UAE.
Which countries offer property investment/ownership programme with residency and why?
In countries like Dominica, St Kitts and Nevis, St Lucia, Antigua and Barbuda, Grenada, etc., one can own property with residency. Other countries that offer similar real citizenship by investment programme with real estate options are Malta, Cyprus, etc.
There are a lot of benefits of the economic citizenship offers of these countries. Here is a list of some major benefits that lure the immigrant aspirants to kiss away big money in exchange of a second passport:
. Quick citizenship process
. Dual passports and citizenships
. No need to relinquish current nationality
. Stable and secure socio-political fabric
. More freedom and mobility, in terms of visa free travel
. Attractive scope for expanding business
. Minimum taxation is another leverage
. No language constrains, most have English as the requirement
. No residency requirement before or after the grant of passport
. Access to right to education and employment in various other countries
While a citizenship in a country like St Kitts and Nevis can be bought for just $150,000 for a family of four and Dominica can be bought for single applicant as much as $100,000 (plus additional charges), which is much more cost effective than ever with a visa free access to as many as 100 different countries of the world, including the Schengen zone, as well as many EU states (subject to specific country's visa policy)!
Most countries offering citizenship by investment programmes are lenient with the tax regime for applicants. Generally, these countries have a minimum tax regime and do not levy taxes on income-generated abroad, inheritance, gifts, grants etc. In order to attract more and more applicants, many countries including Canada avoid double-taxation by establishing treaties with other countries.
Generally, which nationalities in the UAE go for such programme? How does this benefit them? What are the basic requirements to avail these facilities? What are the legalities involved in this?
The Syrians, Lebanese, Iraqi, Yemeni nationals are increasingly looking for a second passport, with a rise of 32%, 11%, 9% and 19%, respectively. Expats from India and Pakistan are also looking for citizenship by investment options for greater ease of travel and visa free access to a number of nations, which their current passports do not allow.
Although generally, the Asian nationals (Indians, Pakistanis and Chinese) make up of about 65 per cent rise in demand of second citizenship of the total clientele of CTrustGlobal. While the rest of the candidates come from the Middle East, which is pretty much unprecedented. Russians and Chinese are traditionally the ones seeking suitable second citizenships by investment programmes, although the graph has considerably expanded since the last quarter of 2017.