Poland Citizenship By Investment
Poland is a democracy in Eastern Europe with strong historical ties to Germany and Russia. Since 2004 Poland has been a member of the European Union and the Schengen Area, and therefore its citizenship and passport would be highly desirable to wealthy but travel-restricted business people from the Middle East, Africa and Asia looking to widen their horizons for travel and work. But do Poland have actually have a Citizenship by Investment program? Read on and find out!
Poland Set To Benefit From Brexit
In the wake of Brexit and the British public voting to sever their ties with the European Union and go it alone, Poland have pushed themselves to the political and commercial forefront and declared themselves in the running to replace the UK as an attractive location for banks and businesses alike. Poland’s deputy prime minister Mateusz Morawiecki is a former banker with Spanish banking giants Santander and one time chairman of Poland’s third-largest bank Bank Zachodni WBK. Last month Morawiecki traveled to London and had meetings with senior representatives from Royal Bank of Scotland, Barclays, UBS, Credit Suisse, Citibank, and BNP Paribas and well as investment powerhouses Blackrock, Pimco, and Schroders.
The reason? To present Warsaw as the ideal location for them to pitch up once Article 50 is activated and Britain finally leave the EU. This visit wasn’t a move of unrehearsed optimism by Morawiecki far from it. Many of them have approached usâ Morawiecki said in an interview with the Financial Times. There is clearly increased interest in leaving London.
Citizenship By Investment
Originated in the Caribbean and now popular in Western Europe, Citizenship by Investment (CBI) is the practice by some countries of offering their citizenship and passport for a specific financial investment, plus a period of residency (often token) in said country.
Caribbean nations which offer CBI programs include St Kitts and Nevis (who developed and ran the very first program back in 1984), Antigua and Barbuda,Â Saint Lucia and Dominica. Second citizenship to one of these nations benefits investors looking to get the most out of the Caribbean’s discreet banking network and take full advantage of the area’s legendary reputation as a tax-haven.
EU nations that offer CBI programs in various guises include Germany, Belgium, Austria, Portugal, Cyprus, Greece and Malta. The typical person who applies for second citizenship to an EU country is a high net-worth investor who hails from the Middle East, Africa or Asia, areas of the world whose countries are often ruled by harsh, oppressive, restrictive regimes. The passports of these countries are hardly beneficial to those looking to enjoy freedom of movement and dream of expanding their businessesÂ abroad.
EU citizenship can literally be a passport to freedom for these people, granting visa-free travel to 160+ countries worldwide, plus allowing them to live and work indefinitely in any of the 28 nations that makes up the European Union.
Does Poland Have A CBI Program?
Currently, the only guaranteed way to receive Polish citizenship is by having at least one Polish parent. Even marriage to a Pole must be for an minimum of three years before an application can be made, with two of those years spent living in Poland.
There have been hints that Poland intends to follow Eastern European nations like Russia, Bulgaria and Hungary and initiate their own Citizenship by Investment program, and that would certainly suit deputy prime minister Mateusz Morawiecki and his desire to attract wealthy foreign investors in to Poland.
As for now, 2ndPassports.com would advise anyone looking for Polish CBI not to be too downhearted, and instead point them in the direction of Hungary!
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