Investing in a second citizenship is becoming the go-to solution for High Net Worth Individuals whose travel freedom is restricted due to their initial passport.
Rif Trust’s CEO, Mimoun Assraoui, and Managing Partner, David Regueiro speak to InBusiness.ae about the growing quest for a second citizenship, who is eligible to apply for it, and the entire process.
Mimoun Assraoui, CEO, Rif Trust David Regueiro, Managing Partner, Rif Trust
What are the main reasons that are driving people from certain nationalities to apply for a second passport?
The first reason is without hesitation an access to freedom of travel. Poor mobility rights are for some nationalities a real disadvantage, for example, there are some passports in ranking that have access to less than 50 countries, when by contrast other passports obtained through CBI give access to 149 countries.
Other reasons are securing the family future – which is crucial for countries in crisis situation – education and healthcare system.
What are the eligibility criteria?
Applicants are generally considered as high net worth individuals and must have clean police records. There is a very strict due diligence from us, as governments approved agents and each country offering its nationality will only accept flawless applications.
Are there any excluded nationalities that can’t apply for a second citizenship?
All nationalities are eligible to apply for the CBI program, however, there are some restrictions for certain nationalities and different criteria for each program. This is why we offer a tailor-made service suiting our client’s best interest.
In a nutshell, how would you simplify the entire process for those who are interested?
It is a very exciting process! From the day you meet our advisors and decide on which program is for you, you provide all the documents, and we submit your file to the government, then you receive the approval, make the full payment, and after 90 business days, you receive your naturalization certificate and your passport! A new life then can start for the applicant!
How much does it cost?
The starting price for a second citizenship is 100.000 USD. It depends on several factors, including the country, the applicant’s need and the package (individual or family).
How long does it take to issue the passport once the application is approved?
From 60 to 90 business days, some countries are faster than others, we also offer some fast-track options.
What are the countries that RIF TRUST is covering/partnering with?
In the Caribbean, RIF TRUST is partnering with major players in the industry such as Dominica, Grenada and St Lucia for example. Recently, CBI pioneer- St Kitts and Nevis honored RIF TRUST for its efforts in assisting with the Hurricane Relief Fund by submitting more than 100 applications.
We also have partners in Malta and Cyprus and other European countries like Spain and Greece, but we cover most countries across the globe from the United States of America to the United Kingdom, New Zealand and Australia.