How to open a bank account abroad: the benefits of a second citizenship → Immigrant Invest

1. "Moldavian account" for residents of the CIS
2. How to bypass the restrictions?
3. How to get a second passport?
4. Cyprus Citizenship
5. How much should you invest?
6. Malta citizenship
7. How much should you invest?
8. Your benefits

It is becoming more and more difficult for Russians to open bank accounts abroad. The next “barrier” to residents of the CIS countries has grown after a fresh financial scandal involving Russian “black” money. Many wealthy citizens of Russia, Ukraine, Kazakhstan, European banks refuse to accept money to the account. You can get around this obstacle! In our article we will tell how to do it absolutely legally.

"Moldavian account" for residents of the CIS

An international scandal erupted after identifying the scheme of withdrawal of "black" money from Russia. Center for the Study of Corruption and Organized Crime (OCCRP) calls The amount of $ 21 billion. Dirty dealers used Moldovan and Latvian banks to transfer money to Europe. The scandal has already involved 732 banks in 96 countries, among them reputable banks in Germany, Great Britain and Switzerland. They are threatened with heavy fines, while ordinary Russians are ignored when they try to open new accounts.

Obviously, after a global investigation, no self-respecting European bank will not mess with the money that comes from the CIS. Whatever "clean" they are. Previously, opening an account required a solid set of documents confirming the legality of your income, the identity of the beneficiary. And after the heads of banks “flew heads” here, most likely, they will simply refuse to citizens of the CIS countries to open an account. Even if you provide the most complete package of documents in the shortest possible time.

Obviously, these restrictions will not last forever, but in the next year or two, European banks will begin to carefully check every depositor from Russia, Ukraine, Belarus, and Kazakhstan.

How to bypass the restrictions?

If you have a Russian, Ukrainian or Kazakh passport in your pocket, then nothing! You will have to seek legal assistance from professional companies that will negotiate with the bank on your behalf. However, the process may be delayed or even end in nothing. There is a much simpler and completely official way to circumvent the restrictions without regard to the current scandal.

To do this, you will need another passport - preferably a European country. You can use your second citizenship to open an account in any bank in the EU. No restrictions, additional checks, delaying time - just a standard procedure. Having only a second passport in your hands, you can enter any bank, fill out special forms and open a current or deposit account.

How to get a second passport?

Under normal conditions, obtaining citizenship in the EU takes many years. However, now in Europe in two countries there are official state programs that allow you to issue a second passport in just a few months. In return, you agree to invest a certain amount in the economy of the country.

Cyprus Citizenship

If you need to quickly get a second citizenship in Europe, the ideal way is to use the state Cyprus program . The official time limit for issuing a Cyprus passport for an investment is 90 days. In practice, things can go even faster. A participant other than the applicant himself can be: his spouse, children under 28 and parents. The Cypriot government offers several options for investing - choose whatever is most interesting for you.

How much should you invest?

• 2 million euros in the purchase of residential property in Cyprus. This is the easiest and most understandable way. You can use the property, and after 5 years to sell the object
• 2 million euros in the purchase of commercial real estate in Cyprus + 500 thousand in the purchase of housing
• 500 thousand euros in the purchase of government bonds + 2 million in the purchase of housing. Owning securities also needs at least 5 years

The advantage of this program is that the investment remains with you. After 5 years you get the right to sell the object and return the amount, perhaps even with a profit. After all, property in Cyprus is gradually becoming more expensive.

Malta citizenship

Program Malta Individual Investor Program gives you the opportunity to issue a Malta passport for 12-14 months. The whole family of the applicant can participate in it, including children under 26 years old and parents (both should be financially dependent on the applicant, that is, not receive any income).

How much should you invest?

• 650 thousand euros (+25 thousand for a spouse and children under 18 years of age and + 50 thousand for adult children and parents) make up your contribution to the Malta Development Fund. It is irrevocable, i.e. you will not be able to return this amount over time
• 150 thousand euros - the cost of buying government bonds. After 5 years, you can sell them with a small profit (up to 3%)
• 16 thousand euros - is the minimum annual amount of rental property in Malta. As an option, you can buy a home as a property, but its value should be at least 350 thousand
• 7.5 thousand euros (+5 thousand for a spouse, children from 18 years old and parents, +3 thousand for children from 13 to 18 years old) - the cost of security checks Due Diligence, which is carried out for all program participants
• 50 thousand euros (+10 thousand for a spouse and +5 thousand for children of any age and parents) - these are administrative costs for paperwork

Now every wealthy person can pre-calculate the value of investments precisely for his case.

Your benefits

With a Cyprus or Malta passport, you can open an account with any international bank in any country in the world without difficulty. In addition, obtaining a second citizenship gives you additional important benefits:

• Visa-free visits to more than 150 countries, including the UK
• Accommodation in any EU country
• Work, doing business in the EU
• The ability to optimize your taxes in Cyprus or Malta
• Study your children in leading universities in Europe with discounts for EU citizens
• Reliable "spare airfield"

In Malta and Cyprus there are no requirements for compulsory residence of citizens in the state, so you can safely choose a country or stay at home.

By issuing a Malta, Cyprus passport, you provide your family with a better quality of life and safety. And our specialists will make sure that the procedure for obtaining citizenship becomes as comfortable, fast and trouble-free for you as possible.