Upon the Investment to Obtain Residence in Foreign Countries.

More than half of the states in the world now have a program that allows to obtain residency or citizenship if meet some requirements as an investor. According to international information agencies, these are plans for individuals or families who use their money with the objective of crossing borders through passport applications that are not based on nationality or citizenship, but on wealth and the will to move around the planet. Citizenship by investment (CIP) programs are currently a growing sector, as are residency by investment agreements, also known as gold visas.

According to firms specialized in advising on obtaining residency or nationality in other countries, the prices of visas range from US 100.000 to US 2.5 million depending on the country.

This is the case of citizenship on the South Pacific island Vanuatu, a small island where they established a nationality scheme with passports that currently represent 30% of government income. Most of the applicants to get a passport there, what attracts them the most is the possibility of visa free travel throughout Europe. The price of a passport is around US150.000 and attracts above all citizens of China including Hong Kong.

That of nationalities is a market competitive, as mentioned by international information agencies, a global market to which several small nations of the Caribbean islands and also developed countries belong. The cost of a passport per investment varies greatly depending on the country. Antigua and Barbuda US100.000. San Cristobal and Nieves US150.000. Montenegro US274.000. Portugal US384.000. Spain US550.000. Bulgaria US560.000. United States US900,000. Malta US1.000.000. United Kingdom US2.500.000.

In the case of the United States, it is a way in which foreign families seek to settle in the United States through the purchase of a house and in addition to starting or continuing their business and enrolling their children in American schools or universities. To get the "green card" that allows you to work, study and have a home in the USA, there is the EB-5 investor visa.

This visa requires investors to loan us 900.000 to USA developers, such as LS NYRC, who build projects that employ USA workers. After the investment, families receive the “green card” in approximately two years and recoup their investment, plus interest, in a period of approximately five years.

The National Association of Realtors report also reveals that many of the international buyers obtained mortgages in the USA For example, 57% of Mexican buyers and 38% of Colombian buyers obtained a loan.

Florida, according to the report, continues to be the preferred state for foreign buyers, with 22% of total operations, followed by California, with 15%. Foreign buyers of houses and condos in Florida come mainly from Latin America (35 %) and Canada (29%).

Citizenship of a certain country is a concept that is becoming more shared today than ever before. Half a century ago, it was rare for countries to allow dual citizenship, but today it is almost universal and as mentioned you can invest money to get it.

The previous cases explained show the possibilities for citizens such as those of China to buy passports in islands of the South Pacific because it grants them entry to Europe without a visa, since the islands are countries that belonged as colonies and have agreements with the countries of the old continent.The other case is for citizens such as those from Latin America who, by acquiring the investment visa, receive residence or nationality in the United States.

But a large number of countries in the world have passports that do not require visas to travel. In this, developed countries have greater opportunities than emerging or less developed countries. According to the latest list of international consultants based on data from the International Air Transport Association, Japan is the passport that allows you to travel to more countries without the need to apply for a visa. Citizens of this country can travel freely to 190 nations.

They are followed, in this order, by Singapore and Germany with 188. Citizens of Spain, meanwhile, can travel to 187 countries. The consultant highlights the evolution of the United Arab Emirates, considered the best passport in the Middle East after ascending from position 62 in 2.006 to 21 today.

At the other end of the list, the citizens with the greatest difficulties traveling internationally are those of Iraq and Afghanistan (30 countries without a visa), Somalia and Syria (32).

In Latin America, Chile's passport once again positioned itself as the most powerful in the region by allowing visa free entry in 174 countries. The country climbed positions steadily in the latest updates of this ranking. In the one published in july 2.017, for example, it only gave access to 143 countries and appeared behind Brazil and Argentina, which now occupy second and third place, respectively, after Chile.

Cuba's, however, is the Latin American passport that offers the least freedom of movement to its citizens, with access to only 65 countries. It is followed by the Dominican Republic (66 countries), Bolivia (79) and Ecuador (93).

For Latin America, making a trip for tourism, business, for medical care or for a stopover in Europe will require a new permit approved by the European Union (EU). There are 15 countries in the region that are on the list of this new requirement, which the EU insists is not a visa, and that it will become effective at the end of 2.021, after it received the approval of the European Parliament and Council.

It is called the European Travel Information and Authorization System (ETIAS, for its acronym in English), a permit that travelers must process electronically when making their travel plans to the so called Schengen area, which are 26 countries, including European destinations. most popular, such as Spain, France, Italy, Germany, Holland, Belgium, Greece, Denmark or Switzerland, among others. The UK has its own visa rules for foreign visitors.

In the case of Latin America, the countries that must manage the ETIAS, among which are Mexico, Colombia, Peru and Chile, once it is approved, it will be valid for 3 years, it will only be canceled before if the applicant's passport expires.

To end this note, some reflections. In the world there are 5.100 million adult inhabitants of which 46.8 million (0.9%) are classified as millionaires by entities such as Forbes and Credit Suisse, which are the holders of at least 1 million dollars (3.800 million Colombian pesos). This population is more likely to qualify for investment visas in countries like the United States and Europe. They can also obviously access the lower priced investment passports like the ones for the Caribbean and South Pacific islands mentioned above.

Additionally, places without covid can attract them, which are basically islands where the contagion has not reached. They are the following located in the South Pacific against Australia and North Korea, Palau, Micronesia, Marshall Islands, Nauru, Kiribati, Solomon Islands, Tuvalu, Samoa, Tonga and Vanuatu. The islands of the Caribbean have low levels of contagion as well.

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Today, in terms of world markets, the stock markets that opened cautiously turn to the upside around noon due to positive expectations of the covid treatment and about the corporate economy in the world.

The price of oil behaves volatile due to the caution about world demand. The WTI registers 43.5 and the BRENT 45.9 dollars per barrel.

In Colombia, the stock market rises 0.1% and the peso appreciates at 3.828 per dollar compared to a TRM for today of 3.867.