It is not always easy for citizens of the CIS countries to open an account with a European bank. Namely, this goal was set by our client. To solve his problem, we helped him to formalize the citizenship of Dominica and conducted an analysis of the loyalty of European banks to opening accounts by citizens of the Caribbean. About what results were achieved, read in our case.
Our client
Gleb, 47 years old, businessman. Owns a successful company that is confidently held in the market.
Aims and Tasks
In order to save the money earned and optimize taxes, Gleb wants to open an account in one of the most reliable European banks. This will allow him not to depend on Russian economic crises and to store savings in hard currency. It's easiest to use citizenship in Europe or the Caribbean to open an account.
Finding solutions
By the time Gleb applied to our company, he already had an impressive knowledge of investment programs that allow him to obtain a residence permit in Europe or citizenship right away.
Prior to that, he reviewed several programs.
- Lithuania's residence permit. Gleb attracted simple conditions and a registration scheme for a residence permit. However, it was frightened that the conditions for extending the residence permit card and the amount of investment are constantly changing
- Spain's residence permit. This country does not impose strict requirements on compulsory residence on its territory. Investments in real estate in the amount of 500 thousand euros arranged Gleb. The conditions for the registration of a residence permit remain stable for several years. But the tax system is not the most attractive in Europe and does not allow to optimize taxes
- Nationality of Cyprus or citizenship of Malta. The terms of the programs are understandable. They provide an opportunity to immediately obtain European citizenship with all its benefits. It is not necessary to live in both countries. However, the amount of investment in both cases is quite large for Gleb: a minimum of 2.5 million and 1 million euros, respectively. He did not plan to spend such money on getting a status in Europe
Cooperation
Turning to us, Gleb told us about the search for an optimal solution. We immediately noted that he was conducting all searches for obtaining a status in Europe among strictly European programs. And they drew the attention of Gleb to the more profitable programs of the Caribbean countries:
They are ideal for solving problems facing Gleb. In addition, these programs are attractive in value.
We acquainted the client with various programs of these states and settled on the citizenship of Dominica. In just 3-5 months you can get a passport of this country for investment. The procedure of registration is simple and transparent, worked out in detail for decades during the existence of the program (since 1991). It's also easy to get tax status and support it.
Gleb arranged the way through the purchase of real estate, because he could return the amount of investment in 3 years.
Benefits of preparing a Caribbean passport
In many ways, the citizenship programs of the Caribbean remain not fully understood by clients. Many people ask themselves: how to practically apply the received Caribbean passport?
At the stage of getting acquainted with the terms of these programs, we inform our clients about the number of countries that can easily travel with a Caribbean passport (there are more than 110 of them). In addition, we talk about the possibilities of using a new passport:
- for tax optimization
- registration of new companies or re-registration of existing documents;
- opening of new accounts in well-known European banks
According to our observations, most often clients are interested in the possibility of opening accounts in European banks, as well as requirements and peculiarities of bank account design in Europe. And it was in this direction that we worked with Gleb.
How did the design go?
Within 5 days we collected a package of necessary documents of Gleb, made copies, assured them notarially, apostilled and submitted it for consideration to the government of Dominica.
To be honest, we did not expect such speed of decision-making! After 4 weeks we were informed that Gleb's candidacy was approved, and his naturalization certificate as a citizen of Dominica was signed by the government of this country. And even 2 weeks after this news, we already handed Gleb a new passport of a citizen of Dominica! From our practice, this is one of the fastest design of citizenship of the Caribbean.