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Immigration

Immigration by Investment; the perfect step for crypto investors and traders in India.

Cryptocurrency is a booming industry in many parts of the globe today. It is one of the most convenient forms of making transactions and provides utmost flexibility too. Even better is that it offers a new type of individual empowerment that is both exciting and dynamic. The digital asset is also flourishing for many other reasons. It protects against inflation, is cost-effective, and is also a secure way to make payments. What is even more interesting about this is that it is a private method that is self-governed and managed. 

Today, we’ll look at some top crypto friendly countries where cryptocurrency can be used without any objections and these countries all have impeccable immigration by investment policies. So why not move there today ? 

Malta

Malta has been using cryptocurrencies for the longest time now. For example, Binance returned from Japan to Malta because they thought Malta was more favorable. Malta is claimed as one of the most crypto friendly countries. Now, cryptocurrencies are also being used for trading purposes. 

Authorities have passed the below bills to make the island a global leader in cryptocurrency regulations:

  • The Innovative Technology Arrangements and Services Act
  • Malta Digital Innovation Authority Act 
  • Virtual Financial Asset Act

Agribank, Paytah, Founders Bank are the crypto friendly banks in Malta.

So hurry up and get the Malta Citizenship by investment today.

In Canada, no laws have been enacted that officially call cryptocurrencies illegal. That is why many cryptocurrency businesses can function in the country without any objections. Such an open-minded attitude helps people try out something new and make the most of new technology for future opportunities and advancement. However, we think that this type of attitude might not be present for too long here. Even so, Canada is considered a crypto friendly country.

In Canada, there are 1,464 bitcoin-friendly ATMs. It can be said that Canada is one of the cryptocurrency legal countries.

Start your application for the Canada Startup Visa and enjoy a crypto friendly lifestyle.

Portugal

Today, if you are looking for some of the most crypto friendly countries in the world, Portugal is bound to reach the top. Cryptocurrency is tax-free in the country and many crypto traders have already made Portugal their second home. The enthusiasm related to crypto in Portugal is very high. Portugal established a “Digital Transitional Action Plan” in April 2020 to promote digitization. The government declared that this plan would create the appropriate climate for business innovation and digital transformation. The action plan also includes “Technological Free Zones” to enable blockchain and other field experiments. Therefore, Portugal is the leader of countries supporting cryptocurrency. Hurry up and begin your pathway to EU Citizenship with the Portugal Golden Visa today.

Germany

Germany has a unique approach when it comes to cryptocurrency taxes. The country favors individual investment and it regards bitcoin as private money rather than a currency, commodity, or stock in the country. According to German laws, bitcoin and other cryptocurrencies are exempt from capital gains tax if held for more than a year. On sale and purchase, they are not subject to VAT. 

If you exchange the funds for cash or other cryptos within a year, your profit will be tax-free if it is less than €600. Thus, Germany can be considered as one of the cryptocurrency friendly countries. Become a German resident today with the Germany Residency by Investment program.

Singapore

Within Southeast Asia, Singapore is renowned as a fintech hotspot. The central bank of Singapore, the Monetary Authority of Singapore, believes that the cryptocurrency ecosystem should be closely supervised to avoid money laundering and other criminal activities, but that innovation should not be impeded. Thus, it makes Singapore a crypto friendly country.

There is no capital gains tax in Singapore. Individual and corporate cryptocurrency funds are not subject to taxation. However, if a corporation is based in Singapore and operates as a crypto trading company or accepts crypto payments, it is subject to income tax. Get your Singapore PR by Investment and live on our favorite high tech island.

If you plan to make bitcoin investments or use another type of cryptocurrency, these crypto friendly countries could help you. So, make sure you invest in their residency and citizenship programs after careful inspection and leave no stone unturned for safety. Also, note that as regulations of crypto countries might change from time to time, it’ll be wise to check the updated information before you make any investment in a country.

You can also speak to our immigration by investment experts to help you. Since they have professional knowledge, they can be better equipped to guide you. Contact My Global Citizenship today. We hope you enjoyed our guide to top crypto countries for residency by investment.

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Immigration

The Power of Two and More – The Passport Collectors: Indian Businessman case study

As the Investment Migration industry continues to expand we are increasingly coming across investors who are now investing in their second or third programs.Why have one passport when you can have multiple options? For many years, most investors’ incentives have been to secure a ”Plan B” but the need for a ”Plan C or D” is now becoming increasingly popular. The world has been full of uncertainty and volatility in recent years, what with the pandemic, political upset in many nations, including the USA, UK, Hong Kong, the 2021 crisis in Afghanistan and most recently, Russia’s horrific invasion on Ukraine. These sobering events sadly demonstrate how quickly circumstances can change in our world.

Most savvy investors like to diversify their assets and we are finding many are now spreading their investments across different countries and continents, not only for financial reasons but more so to have a Plan B or C safe have in different parts of the world. A second passport has many benefits, albeit different to the benefits of a residency visa in a European country, such as Portugal. By holding a residency or a second passport in two different continents, you are giving yourself options should you ever need them. The Cliché phrase ”don’t put all your eggs in one basket” springs to mind. 

Passport Collector – Case Study

Mr Jain is a businessman from India. His career requires a lot of international travel which currently involves him having to regularly apply for Schengen visas to Europe and various other temporary visas for destinations such as China. His main objective is to gain a European Residency visa which will enable him to travel to any of the EU countries that he regularly visits for business such as Germany, France and Spain. He also likes the idea of being able to later apply for citizenship in Europe, although he does not need this urgently. He opts for the Portugal Golden Visa Program by making a real estate investment in one of the qualifying projects which fits nicely within his budget.

After six months Mr Jain has secured his Portuguese Residency permit which enables him to travel to Portugal as many times as he wishes, plus he can visit the other EU countries for 90 days every six months, which is more than enough time for his short business trips. 15 months later Mr Jain is extremely pleased with the extra freedom his Portuguese Residency permit is bringing him during his frequent business trips to Europe, but applying for a visa every time he needs to visit China has become frustrating. Mr Jain reaches back out to My Global Citizenship to see if there is a solution to his secondary objective- visa-free access to China. Mr Jain’s personal advisor at My Global Citizenship suggests he applies for Grenada’s Citizenship by Investment Program which is one of the very few countries lucky enough to hold a visa-waiver agreement with China. During his consultation, Mr Jain also discovers one of the additional advantages of holding Grenada Citizenship is that one of his Children can gain a one-year scholarship to the country’s famous medical school – St George’s University. Whilst his son is currently only 15 years old, he hopes to study medicine in the future so this is an attractive benefit for him. My Global Citizenship’s team assist Mr Jain with his family application in Grenada and 5 months later Mr Jain and his family now hold Grenada Citizenship as well as Portuguese Residency and their existing Indian Citizenship giving them visa-free access to a large proportion of the world, enhancing his business opportunities and his children’s education options. 

*The client’s identity is protected for confidentiality reasons.

For more details on the available programs and to find out which Residency and Citizenship pairing may work best for you, please contact our team for a free consultation.

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Immigration

Can Indians get dual citizenship?

The Indian constitution does not have a provision of dual or multiple citizenship. If an Indian acquires a second passport, they automatically lose their Indian citizenship. As per the Passports Act, 1967, it is mandatory for all Indian passport holders to surrender their passports to the nearest Indian mission or post immediately after acquiring the nationality of another country. However, such persons can get Overseas Citizens of India (OCI) status after acquiring foreign citizenship.

What is OCI status and how does work?

OCI is a legal status given to a person of Indian origin who has given up Indian citizenship. It is similar to permanent residency and offers several benefits. The government of India issues a document called OCI card to all people who have been given this status.

What are the benefits available to OCIs?

An OCI can enjoy many of the benefits available to a citizen of India such as:

  • Multiple entry life-long visa to India
  • Live, work, carry on business in India indefinitely
  • Own assets and properties
  • Apply for Indian citizenship again after surrendering foreign citizenship, subject to certain conditions

How to get an OCI card?

Make an online application, upload photographs and documents, pay the fee and you will get your OCI card in a short time.

What are the things OCIs can’t do?

  • Since you are not a citizen, you cannot vote
  • You cannot run for a public office or contest an election
  • You cannot buy agricultural land or plantations in India. However, you may continue to hold such property you had before giving up Indian citizenship and also inherit it

For detailed immigration advice, contact My Global Citizenship

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Immigration

How to relocate from India ?

There are various reasons as to why one would want to leave India even with it being a great country. Whether to find better education facilities, better welfare/amenities, investment opportunities or employment prospects, all your reasons are valid.

Moving abroad from India is not a new phenomenon anymore. With the advent of social media and more disposable income, more and more Indians have started moving to other countries in search of better opportunities, a better lifestyle, or just for the experience.

Considering moving abroad from India? Well, there are various options available for you to consider, but here are a few of the most common:

  1. Student Visa: Most individuals choose this option because it is the simplest means to go overseas, especially if you are still pursuing education and have good financial backing. It gets a little difficult after graduation because there are some limits on employment visas after studying but adjustments are being made to permit students stay abroad and search for jobs after graduation. Such adjustments have already been made in countries like the United Kingdom where International students can stay in the UK for up to 2 years after graduation on a new visa route to look for a desirable job. . So if you fall in the student group and plan on studying abroad, the United Kingdom is a top choice. Contact the best study abroad specialists we know, My Foreign Education today.

2. Work Visa: Another viable and less costly option is to find a job abroad and relocate on a work visa. This is viable and less costly because usually the company provides you with all required assistance and relocation funding except in few cases making it one of the most convenient ways to move abroad. This option is however highly competitive as you will be applying for these jobs along with other top international talents. We wish you luck in your abroad job search.

3. Refugee or Asylum Visa: These visas are granted under very special humanitarian circumstances. If you are in an abusive situation, have threats to your life for religious or political reasons you can apply for these visa types in agreed countries and relocate if granted. You however will have to provide very sufficient proofs of the threats and dangers to your life in your home country. These visa types are most times not available at embassies and you have to already be in your desired country on another visa type or at the country’s border before you can apply in person at the designated centers.

4. Family Visa: If you have an immediate family member who is already living abroad, then this is another means to relocate abroad through their sponsorship. It is however the most tedious and bureaucratic visa type.

5. Spouse Visa: This is similar to a family visa except that you need to be married to someone who lives in the country you are hoping to relocate to.

6. Residency by Investment: A route for high-net-worth individuals to seek residency in a country of their choice by making financial investments in that country. This is one of the most straight forward means of relocating abroad. You can also contact My Global Citizenship for your Residency by Investment Guidance and application help.

7. Second Citizenship: Just like Residency by Investment, this is a means for high-net-worth individuals to acquire second citizenship in a country of their choice via immigration by investment programs and acquiring citizenship after a certain period of time. You can also contact My Global Citizenship for your Citizenship by Investment Guidance and application help.

Moving abroad from India can be difficult, but with proper planning and research, it can get less daunting which is why we recommend you get in touch with My Global Citizenship today for your tailor made immigration options that fit your needs and budget.

We hope this was helpful and good luck with whichever relocation type you decide to pursue!