How to Get Residence by Investment for Siblings: Requirements and Applying Process
Published 10:19 am Tuesday, September 24, 2024
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Special government programs provide for the possibility of migration of wealthy investors with their spouses and children. The government believes that there should be no obstacles to family reunification after obtaining a second citizenship. To do this, it is enough to use the option and add the names of relatives, taking into account the additional costs.
At the same time, the possibility to include a brother or sister in the list of applicants is less common. Often, this option is not available, and to obtain documents, you need to make a request yourself. However, residence by investment programs that allow the main applicant to add other relatives to the list are also known. In order to choose a country that allows this option, you should consider the specifics in detail.
Overview of RP and PR Programs That Include Siblings
The application rules and requirements for investors are helpful. In particular, it specifies the conditions for additional applicants who are dependents of the main applicant.
In order to migrate with a foreigner and his/her family, several mandatory rules must be met, including:
- Capital contribution. The minimum investment amount is available to single investors. If the main applicant adds family members, the participation costs increase. The investor pays for the processing of the request, commissions, and the price for verifying the information.
- Proof of financial independence. Family migration is possible if you have sufficient capital. When verifying the data, the government makes sure that the investor is able to support the added members, so the capital requirements differ.
- Preparation of documents. Added applicants must provide information on the absence of criminal cases, health, and trustworthiness. The information is checked in several stages to determine eligibility.
A specialist consultation will help you decide which of the available RP or PR programs meets the interests of the investor’s family. A specialist selects options based on your wishes, so it is easier to make a decision. An expert opinion will also speed up the naturalization process.
Eligibility and Requirements for Including Siblings in Investment Residency
It is possible to apply and include siblings in the application, but you must first fulfill the government’s conditions. To assess the profitability of such options and disclose the benefits, let’s pay attention to the opinion of expert Vladlena Baranova (Immigrant Invest agency). In order to obtain a residence permit by investment for siblings, you need to keep in mind the following:
- Age restrictions. Residence programs that allow adding relatives to the application include an age requirement. If the sister/brother is under the age of majority, parental permission is required. In other cases, the maximum age is 30 years.
- Marital status. Relatives can be added to the main applicant if there is no official partner. Unmarried sisters and unmarried brothers will be able to obtain permission to participate, unlike married ones.
- Children. According to the terms of the programs, the applicants must not have children. This is because raising offspring is the responsibility of parents. The investor cannot support someone else’s family and add their members to the application.
- Financial dependence. In order for an investor to be eligible to add the names of relatives to the application, the added applicants must be supported. Financial dependence on the initiator of participation is required.
It is possible to obtain residence for siblings through investment if the eligibility criteria are met. In other cases, the government allows applicants to make a request on their own. In this case, the general rules of investment proposals apply to them.
Application Process for Residency with Sibling Inclusion
You can apply for the program remotely and in person. The changes also apply to other aspects, such as the composition of the application package. The application process for adding other family members depends on the country chosen, but there are similar steps:
- Making an investment. Sponsored investor migration includes payment of all costs, including the fee for conducting a comprehensive check and issuing a residence permit (passport). The total investment amount is also increased by up to 50 thousand dollars.
- Preparation of documents. The requirements for the main applicant are also fulfilled by the added adult members. This requires a bank account statement, a certificate of no criminal record, etc.
- Receiving the results. Application processing takes up to 12 months, and the period depends on government requirements.
You can get residence by investment programs including siblings after fulfilling your duties. The main applicant receives the decision on the application.
Conclusion
Applicants for the programs have the opportunity to add close relatives. This option is often not available in European countries. Investment programs of the Caribbean islands are distinguished by loyal conditions for sponsors who apply for the whole family.