How to secure residency and citizenship in the UK and US

You don't just need a lot of money - you have to park it in the correct places.

New York City from the 75th floor of 432 Park Avenue. AFP

In The National's Money section this week, we profiled the countries around the world offering residency and citizenship to the wealthy. In return, the countries demand that applicants invest large sums into their property markets, buy government bonds or simply make a donation.

Attractive to those in the Middle East, Russia and China, these are generally located in European and Caribbean countries, but what many do not realise is that the United Kingdom and the United States also offer schemes aimed at wealthy foreigners seeking residency and full citizenship.

And like those offered in Europe and the Caribbean, anyone interested will need deep pockets to finance this option. Here are the finer details:

The UK

Tier 1 (Investor) visa allows wealthy individuals and their families to claim residency for a limited period, with the prospect of permanent residence as well.

Cost: Applicants must have access to at least £2 million (Dh11.33m) in investment funds. There is a fee of £1,500 per applicant and another £1,500 for each family member. There is also a health care surcharge.

Criteria: The applicant must invest for five years in either UK government bonds, share capital or loan capital in active and trading UK-registered companies (property investment is not qualifying). Investment in offshore companies is not permitted. Required documents include a passport, tuberculosis certificate, criminal record certificate, married or civil partnership certificates, and evidence of how much money you have and where it came from.

Benefits: The visa allows you to stay in the UK for a maximum of three years and four months, and you can apply to extend this visa for another two years, as long as the investment amount required is met and no criminal record comes up. Applicants may claim indefinite leave to remain after five years if they have invested £2m, falling to three years for £5m, and two years for £10m.

The US

The Green Card through investment scheme is aimed at entrepreneurs, their spouses and children under 21. Up to 10,000 visas are issued a year.

Cost: Applicants must invest $1m in a commercial enterprise in the US, which will create or preserve 10 permanent full-time jobs for qualified US workers. The limit falls to $500,000 in rural areas or those with high unemployment.

Criteria: Applicants may be eligible for permanent residence if they can supply evidence that they have set up a valid business entity using approved Form I-526, Immigration Petition By Alien Entrepreneur.

Benefits: Successful applicants become lawful permanent residents of the US.

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