Sovereign Group: A holistic approach to international Residency and Citizenship planning

Acquiring an alternative or second residency or citizenship (RC) provides families with a broad spectrum of benefits and opportunities in respect of lifestyle, travel, business, investment and tax, and has become an increasingly popular option worldwide.

2023 has been a year of significant change and number of programmes have been impacted worldwide. Residency and Citizenship planning options are continuously evolving, with the creation of new government programmes, the incorporation of additional options and benefits within existing programmes or, in some cases, the withdrawal of programmes that are no longer considered to be advantageous to the host economy or society.

This combined with the fact that no two clients’ requirements or objectives are the same, means that Residency and Citizenship planning must be approached on a holistic, individual basis, not from a perspective that one solution will fit all.

The Sovereign Group monitors the market to ensure that our information is fully up to date, and we provide access to a comprehensive range of residency, citizenship and tax residency solutions. Our extensive network of offices, experienced local teams and professional service partners ensure that we can assist clients with the identification, development and implementation of the most suitable overall strategy for their needs.

The rationale for RC Planning for individuals and governments

In a world of political uncertainty and restrictions on travel and the movement of assets, internationally mobile individuals, their families and businesses have developed a genuine need for liberating, flexible solutions.

This need has not gone unnoticed. Many governments wish to attract wealthy, self-sufficient and entrepreneurial individuals, who will enable them to:

• Secure much-needed foreign investment without increasing public debt.
• Attract people with proven business success and valuable networks.
• Create local employment and generate associated economic benefits.
• Enrich their economies and citizens.

Residency Programmes

The Sovereign Group advises clients on a wide range of residency programmes, catering for most personal requirements and budgets. Qualifying applicants will typically receive a local residence permit together with the following additional benefits:

• The right to reside, settle and stay indefinitely in your chosen country of residence.
• Option to include spouse and qualifying dependents.
• Greater freedom of movement within cooperating countries.
• No language requirements.
• Access to high quality educational institutions and medical facilities.
• Multiple personal and corporate tax benefits.
• Eligibility to apply for citizenship by naturalisation in the future.

Types of Residency Programme

Government-approved residency programmes enable foreign nationals to gain full residency rights in a new country in return for making a capital investment, establishing a local business and/or injecting capital into the economy. Programmes can be categorised as follows:

1. Residency-by-Investment (RBI) Programmes (often referred to as ‘Golden Visas’) provide individuals and their dependents with a residence permit and a variety of associated benefits in exchange for a wide range of investment and/or donation options. RBI Programmes usually have low minimum stay requirements and are therefore ideal for clients seeking to establish an alternative or second place of residence without having to radically change their existing arrangements.

Sovereign assists clients to successfully prepare and process such programmes in:

2. Financially Independent Visa Programmes provide residence permits to applicants who can demonstrate a regular income and/or personal wealth above a specified amount. These programmes generally require applicants to make the chosen country their primary place of residence and tax residence.

Sovereign assists clients to successfully prepare and process such programmes in:

3. Business Start-Up, Investment and Incubation Programmes provide residence permits to applicants who establish a new business or invest in an existing business, creating local economic activity and employment opportunities in the chosen country. In some cases, the minimum initial investment requirement is relatively low.

Sovereign assists clients to successfully prepare and process such programmes in:

4. Tax Residency Programmes provide preferential rates for new residents and/or non-domiciled individuals who establish tax residency. Some of these programmes also provide residency status while others can be established in conjunction with a residency programme listed above.

Sovereign assists clients to successfully prepare and process such programmes in:

Citizenship Programmes

The Sovereign Group advises clients on a wide range of citizenship programmes, catering for most personal requirements and budgets. Qualifying applicants should expect to receive the following benefits:

• Citizenship for life, which may be passed on to future generations.
• Option to include multiple dependent family members under a single investment.
• The right to reside, settle and stay indefinitely in the host country.
• Low minimum stay/residency requirements.
• Greater freedom of movement within cooperating countries.
• Visa-free or visa on arrival access to up to 186 countries.
• Multiple investment options – government donation, bonds or real estate.
• The option to maintain dual citizenship.
• Multiple personal and corporate tax benefits.

Types of Citizenship Programmes

The Sovereign Group offers a provides a range of citizenship solutions that can be categorised as follows:

1. Indirect Citizenship Programmes offer citizenship in exchange for government donations, following a one or three-year period of legal residency. Sovereign Services Ltd Malta is a licensed agent of the Community Malta Agency (Licence number AKM- SOV- 22) and is authorised to assist clients successfully prepare and process citizenship in Malta after a period of either of 12 or 36 months.

2. Direct Citizenship Programmes offer citizenship within three to six months of application in exchange for an investment or government donation, generally with no physical presence requirements. They can also provide residency rights within a range of other countries with which the issuing country holds freedom of movement treaties.

Sovereign and our licensed partners can assist clients to successfully prepare and process citizenship applications in:

3. Citizenship through Naturalisation refers to the legal process by which a non-citizen may qualify to acquire citizenship of that country after they have held legal residency status for a specified period. Naturalisation rules vary from country to country but typically include a promise to obey and uphold that country’s laws and may include additional requirements, such as being able to demonstrate an adequate knowledge of the national language and culture.

Sovereign’s Residency and Citizenship Planning Services

Sovereign will work closely with applicants during each stage of the planning and implementation process. We can also provide the following services, which when combined and managed correctly will enable individuals and families to develop and implement a comprehensive, flexible and tax efficient strategy:

• International residency and citizenship programmes.
• Tax residency.
• Structuring using trusts and foundations.
• Estate and succession planning.
• International retirement plans.
• Wealth management.
• Corporate structures and banking.
• International life and medical insurances.

For further information, to discuss your requirements and/or to determine whether you qualify for any of our residency or citizenship programmes, please contact Sovereign’s Residency and Citizenship Planning team below.