Terms and requirements for obtaining the citizenship
The process of obtaining citizenship took up to 4 months. Investors had to meet the following criteria:
age over 18;
no EU citizenship;
no sanctions, restrictions or bans on entry to the EU countries, the USA, the UK and Canada;
no convictions and criminal proceedings;
the legality of the source of origin of funds;
impeccable personal and business reputation;
favorable and stable credit history;
A Moldovan passport could also be obtained by:
the applicant’s spouse;
children under the age of 29;
children, regardless of age, with mental or physical disabilities;
parents of the main applicant and/or spouse 55 years of age or older;
moldovan citizenship was also inherited;
At the same time, it was possible to obtain a Moldovan passport while remaining a citizen of another country. Moldovan legislation did not impose any restrictions on the registration of dual citizenship.
Advantages of Citizenship of Moldova
It was advantageous to issue a passport of a citizen of Moldova in order to permanently move to this country and enjoy all its social guarantees. Investors chose this country because of:
Visa-free Schengen. A Moldovan passport guarantees visa-free access to 121 countries, including Turkey, the Schengen countries and the EU. Moldovan citizenship provides unhindered access to the world on a par with the passport of any Caribbean country.
Citizenship for the whole family. When investing in the country’s economy, not only the applicant received a passport, but also all members of his family, including his spouse, children under the age of 29, parents and dependents.
Economic opportunities. The economy of Moldova was actively developing and the country has already signed an association agreement with the European Union.
Citizenship in no time. In some European countries, you have to wait up to 5 years in order to qualify for the naturalization procedure. In Moldova, terms were much shorter – the entire process could take up to 4 months.
Tax benefits. There are special zones with preferential taxation in Moldova. Average tax for an individual entrepreneur ranges from 7 to 18 percent, which made it possible for a new citizen to quickly open a business.
Favorable location. Moldova is close to the main European countries and Russia, which allowed doing business within reach.
No language and cultural barrier. Most of Moldova’s population is fluent in Russian and has similar cultural values.
Investment options to apply for citizenship
Obtaining Moldovan citizenship consisted of several stages:
verification of the applicant;
conclusion of an agreement;
submission of documents;
fulfillment of conditions;
obtaining a passport.
The investments required to obtain a Moldovan passport should have been invested in the country’s economy. It was necessary to invest an amount of € 100,000. The government used this money to develop infrastructure, education, health care, renovation of the housing stock, etc.
The applicant also had to pay an administrative fee, due diligence, government fees and other expenses.
FAQ and Information About Moldova
Is the investment program of Moldova closed?
Yes. The Citizenship by Investment Program closed in September 2020.
Could children from previous marriages obtain citizenship?
How was the financial dependence of children and parents on the main applicant confirmed?
Documents confirming financial dependence were provided – for children a certificate from the place of study, for dependent parents – a birth certificate.
Was it required to live in the country and know the language?
There were no requirements for residence and knowledge of the language.
Did the person become liable for military service?
Was it possible to obtain citizenship with a canceled criminal record?
The applicant should have had no previous convictions and no criminal proceedings for serious criminal offenses.
Not ready to proceed with the application process yet?
Subscribe to our must-read newsletter. The articles we send will help you make the right choice. Once a week we send expert information without empty talk and with no advertisements. Articles are prepared by leading tax experts and lawyers.
SUBSCRIBE TO MUST-READ NEWS
And start receiving new articles by e-mail right now. You can unsubscribe at any time in one click if you find this information irrelevant.