ACQUIRING A SECOND PASSPORT THROUGH CITIZENSHIP BY INVESTMENT? RETAIN AN EXPERIENCED COMPLIANCE OFFICER TO GUIDE YOU TO AVOID THE PITFALLS

I am constantly amazed at how many wealthy individuals purchase a Citizenship by Investment (CBI/CIP) without retaining outside advice. They rely upon the slick sales pitch of the consultancy offering the programs; most investors don't buy anything without their trusted lawyer, but when it comes to CBI, they believe the "legal specialist" at the company marketing to them, who is not a practising attorney, and definitely not one admitted in the jurisdiction where they are paying six figures for a passport. Not a good idea, when it comes to effective personal risk management.

In my humble opinion, if you have your heart set on a second passport, first find an experienced compliance officer to check out the specific product recommended by the consultant. Is the CIU program in the jurisdiction involved in litigation; is it under attack for corruption, or any other type of criminal conduct; is its valuable visa-free access to the EU and UK endangered; does it have a history of illegal discounted sales, or revocation of citizenship and passports; all the issues in 2025 that could make your investment evaporate, or become useless. The review is essentially a due diligence inquiry into the product you are thinking of purchasing.

Next, assuming that the specific jurisdiction passes compliance scrutiny, it is time to review the contract itself. Given that you will probably now be wise enough to secure the professional services of an attorney with contract experience, take it one step further, and have your lawyer, after he reviews the purchase documents, secure an opinion letter attesting to his findings, signed by a lawyer in the country that is selling you the citizenship. Lawyers, who have licenses to protect, and don't want to be sued for malpractice, should confirm your own lawyer's findings in writing, for your protection.

Only then should you wire those six figures, making sure that they are going directly into the CBI agency's escrow or trust account, in the country that will issue the citizenship & passport. There are charlatans everywhere in the investment migration industry, so have your personal attorney handle the payments.

Contrary to popular belief, I support legitimately run CBI programs, that maintain effective due diligence programs for gatekeeping, are free from corruption, and deliver what their vendors promise. Use this guide to minimize risk, and maximize the chance that you will be happy with the outcome, both now, and in the fu