Many UAE residents with valid visas are considering citizenship-by-investment (CBI) programs offered by countries like Dominica and others in the Caribbean and Latin America. While these programs promise enhanced global mobility, they raise key concerns about legal status in the UAE and potential challenges when moving to Europe or North America.Lieutenant General Mohammed Ahmed Al Marri, Director General of the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai, confirmed to Gulf News, in an exclusive interview, that residents with legal status in the UAE are eligible to apply for CBI programs. However, he emphasized that acquiring a second passport does not guarantee seamless entry to the US or EU due to changing immigration laws.
What is Citizenship-by-Investment?
Citizenship-by-investment (CBI) is a legal process that allows individuals to acquire citizenship in a country by making a substantial financial contribution. These contributions often take the form of investments in real estate, government-approved projects, or creating employment opportunities that contribute to the economic development of the country. The countries that offer such programs use them to attract foreign direct investment and foster economic growth, while simultaneously providing individuals with new opportunities and greater global mobility. However, as General Al Marri clarified, while UAE residents with legal status are free to pursue these programs, the acquisition of a second passport does not automatically grant them rights to live in Europe or North America.
UAE Residency and Migration with Investment Passports
- Residency in the UAE:
Lieutenant General Al Marri confirmed that individuals acquiring investment-based passports while residing in the UAE can continue to live in the country, as long as they maintain legal residency by holding valid visas and complying with local immigration laws. Their new nationality will not affect their right to stay in the UAE.
- Migrating to Other Countries:
While some investors seek citizenship-by-investment to gain easier access to Europe or North America, Al Marri emphasized that such passports do not guarantee entry into the EU, US, or Canada. These individuals must still comply with the entry laws and regulations of their destination countries.
- Verification of Investment Passports:
To safeguard residents, the GDRFA offers a free service to verify the authenticity of newly acquired investment passports. Through a dedicated forensic laboratory, the GDRFA ensures the passports’ travel-worthiness, protecting individuals from fraud and ensuring their legal recognition.
New Immigration Regulations in the US and EU
General Al Marri also pointed out significant recent changes in immigration laws in both the United States and the European Union. These new regulations pose potential challenges for holders of second passports obtained via CBI programs. A growing concern in both regions is the increasing scrutiny of citizenship-by-investment schemes, especially those offered by Caribbean, Dominican, and Latin American countries. In the United States and EU, these programs are often seen as facilitating “wealth migration,” leading to greater scrutiny of the legal procedures governing these investments. “Recent changes in US and EU immigration laws are affecting those with investment-based passports, especially those looking to migrate to these regions,” Al Marri stated. “If they don’t comply with the updated procedures, they could face complications when trying to enter or settle in these countries.”
Guidance for UAE Residents with Second Passports
For those who have obtained a second passport and are considering migration to the US or Europe, a UAE-based citizenship-by-investment service office advised them to consult with the relevant embassy. According to a source from Gulf News, “Anyone who has obtained a second passport with the intention of migrating to the US or Europe should contact the embassy of the country that issued the passport to understand the new requirements and necessary steps.” The source also reassured residents that as long as they maintain legal residency in the UAE, there should be no issues with their status within the country. “Their presence in the UAE should face no issues as long as their residency status is legal and their permits are valid,” the source added.
More on Citizenship-by-Investment Programs
Citizenship-by-investment programs have grown in popularity due to their ability to provide individuals with broader opportunities for international travel and business. The general process for obtaining citizenship through investment includes the following steps:
- Eligibility Criteria: Applicants must meet specific conditions, such as having a clean criminal record, being in good health, and possessing adequate financial resources to make the required investment.
- Types of Investments: Depending on the country, investments can range from donations to government funds, real estate purchases, to business ventures that create jobs. Each country has its own set of requirements, such as a minimum financial threshold or specific areas of investment that must be targeted.
- Application Process: After selecting a country and investment type, the individual must submit an application with the required documentation. This is followed by a due diligence process to verify the applicant’s background and the legitimacy of their financial resources.
- Approval and Citizenship: Once an applicant is approved, they are granted citizenship along with a passport and a certificate of naturalization, which provides all the rights and privileges of a citizen in the new country.
