Lebanese Nationals Largest Investors in Portugal Golden Visa Program

More and more frequently, the term second passport is coming up in conversations in coffee shops and amongst Lebanese nationals globally.

Since the outbreak of conflict in Syria and the Middle East, the number of Lebanese passport holders seeking a second passport and European citizenship has risen considerably. With the recent travel ban on UAE & KSA nationals to Lebanon due to safety issues, Lebanese applicants are now considering the importance of a second passport. The same for those holding handwritten Lebanese passports, which are no longer valid for travel.

The idea of a second passport is that no single government will have sole power over your family's life and over your assets. A second passport can secure your freedom and expand your investment horizons. Dual citizenship is considered a global insurance policy for high net worth individuals.

Furthermore, visa restrictions and inability to travel for business purposes has driven many businessmen to seek residency abroad without having to relocate from their home country, European residency being the most popular.

The Portugal Golden Visa Program is the most popular option for those Lebanese nationals seeking European Residency. Since 2015, Lebanon is top-ranking nation in the Middle East for those applying for Portuguese Residency. The Portugal Residency program allows for visa-free travel to the 26 Schengen states. The Residency also empowers investors to apply for Citizenship. The Portuguese passport is ranked 4th, one of the most powerful in the world.

There are various investment options available for residency, including the purchase of a real estate property to the value of €500,000. However, the most affordable option is an investment of €350,000 in a property dating back more than 30 years located in 'urban recovery areas' for refurbishing.

Whilst the Residency Programs are still extremely popular in Lebanon, the number of applications for Citizenship by Investment have more than doubled over the past year. Amongst the most popular are the islands of the Caribbean, Malta & Cyprus.

The Commonwealth of Dominica is now considered as the most accessible of the Citizenship by Investment programs in terms of cost. A single applicant may invest in a Government donation of $100,000 or in real estate with a minimum investment of$200,000 in world-renowned hotel projects on the island. This reputable program offers visa-free travel to over 120 countries including the UK & Schengen. However, as of 1st August 2016, the cost of Dominica Citizenship will be raised considerably by the Government.

As one of the largest processing companies of Citizenship applications in the Middle East, Savory & Partners are trusted by Governments to source individuals of the highest caliber and to successfully process Dual Citizenship and Residency solutions for them.

With demand for such dual citizenship & EU Residency programs on the rise, Savory & Partners assists its clients to obtain a second passport and residency through experience, service and trust. With Portuguese and Arabic Speaking Citizenship consultants employed in Dubai, Savory & Partners are best positioned to guide their clients to Portugal Residency and any of the 13 other reputable Citizenship & Residency programs around the world.

If you would like to know more about the Portugal Golden Visa Program or any of the other Citizenship & Residency programs, join Savory & Partners in Beirut during April to discuss these exciting opportunities for you and your family.