Spreading over the area of 719 square miles; Comoros is the third smallest African territory that has recently started offering second passports in 2014. The primary reason for selling residency visa to foreigners is to earn GDP to construct infrastructure. UAE government was the first territory that solely purchased $200 million Comorian passports to provide citizenship for its stateless habitants. . Later in early 2015, Kuwait another Gulf country bought the same nationality to endorse homeless persons residing there. Having been a newcomer in the business, Comorian passport provides visa-free entry to a lesser number of countries as compared to other territories selling residencies for cash. The country competes for its small price involved to acquire the legal right to live there.
In addition to small prices, there are a few good reasons that are alluring individuals to become a citizen of this African state.
Minimum investments are required, unlike to several developed and undeveloped countries; you can become the legal inhabitant after investing the small amount of $50,000 and $30,000 for your spouse. A child can be added to the plan after making a small investment of $12,000.
Document processing is fast, you don’t have to wait for several months or even a whole year to avail legal rights as local. The fast document processing system issued second passports within 60 to 90 days after filing the application. Generally, it takes 65 days to obtain a passport and documental proofs.
Citizenship has been forever, once you get entitled for Comoros citizenship, it cannot be revoked. It is independent of political and governmental changes in the territory. Any changes in the government and executives working there will not affect this status.
The Extreme level of privacy, in case you don’t want to expose that you have bought the legal rights to live there, the state government will never expose it to anyone including your home country. Now a day’s a number of high net worth individuals are acquiring secretly the Comorian residency to protect their assets.
No renunciation of existing nationality, unlike in other countries, state authorities will never ask you for renunciation. Whether you choose to live and work there or not.
Zero restrictions to pay taxes, you are not obligated to pay any taxes to the government for worldwide income you might be making in your home country or any other country on the globe.
No investments are required; unless you receive the complete documents in your hand, they don’t ask you to invest. Investments are required after application approval.
No residency requirements, although, this is a beautiful territory; if you don’t want to live there than there are no obligations to live there. It doesn’t affect your legal status.
Visa-free entry, you will be entitled to visa-free entry to few good countries like the Dominican Republic, Costa Rica, Guatemala, Iran, if you belong to the USA, Canada, UK or Schengen states. Whereas, states like Bangladesh, Bolivia, Egypt, Kenya, Seychelles and Sri Lanka issue visa upon arrival to candidates on Comorian Passport. However, Maldives, Malaysia, Nepal, Singapore, Panama and Nicaragua offer total visa-free entry without making discriminations on the basis homeland nationalities. You can freely travel to these countries as Comorian citizen.
Endnote: Despite being a developing country, these are a few reasons reinforcing the importance of obtaining the Comoros citizenship with SavoryandPartners.