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  • Writer's pictureZiad El Shurafa

CBI Should Put Moldova on the Map


“On paper the new Moldova citizenship by investment program looks very promising and I expect it to be a popular option. While the price is on par with the Caribbean programs, its central location makes it a lot more convenient to get to from the Middle East and offers excellent visa free access to many popular European countries as well as Russia. Both those things are significant if, along with improved travel, it is important for you to have a safe place for you and your family to go if circumstances in your current country of residence take an unexpected turn for the worse.


I then had the opportunity to visit the country and what I experienced was a young, vibrant society that offers incredible opportunity from both an investment as well as a lifestyle perspective. Personally, I think the opportunity to become a citizen of a country that is on the precipice of change is very exciting.


Moldova, in my opinion, represents more than just another passport in your collection, but an actual destination for immigration. Compared to other countries offering citizenship by investment, it feels more like a place to live, as opposed to a holiday destination. This program is a breath of fresh air and a welcome change to the citizenship by investment industry.“


- Ziad El Shurafa



Moldova Citizenship by Investment
Moldova Citizenship by Investment

The Details

Moldova Citizenship by Investment Program Overview


Moldova has officially started accepting applications as of January 1, 2019, making it the newest entrant into the world of Citizenship by Investment. While the program has some obvious and well reported advantages, such as visa-free travel to 122 countries and one of the lowest contribution amounts of the European Programs, the program has some unique benefits which have energized the industry and are a welcome change.


The program has a similar structure to other citizenship by investment programs. The investor makes a contribution into the country’s Public Sustainable Development Fund. The amount required is €100,000, which is very competitive and the lowest amongst the European programs. Following this investment, the successful applicant will receive citizenship and a passport from Moldova.


One of the most reported advantages of second citizenship, and most often the yardstick by which programs are evaluated, is the number of countries investors can travel visa-free on the country’s passport. The Moldovan passport offers visa-free access to 122 destinations including Turkey, Russia and the European Schengen Area. They are the only country which offers this unique combination of visa-free travel making it very competitive amongst other Citizenship by Investment programs. In addition, the country’s central location in Eastern Europe allows for easy access to Asia, the Middle East and the rest of Europe.


The country feels larger, with a population of 3.5 million, which greatly overshadows the other countries offering citizenship by investment:

  • Malta – 460,000

  • Cyprus – 1.18 million

  • St. Kitts and Nevis – 55,000

  • Antigua and Barbuda – 102,000

  • Dominica – 74,000

  • St. Lucia – 179,000

  • Grenada – 108,000

  • Vanuatu – 276,000

The country also represents a lot of potential. But in the short time since gaining independence in 1990, the country has had little opportunity to realize this potential. Moldova started out as a very poor country and through the government’s policies and reforms, which have been driven by the goal of European Integration, the country has seen steady economic growth. Open economic policies, such as improved foreign trade and enhancing the business environment have been successful, leading to an Association Agreement with the European Union, furthering growth in the country. It is expected that if Moldova can continue on this path, they may become a member of the European Union in the near future.


Moldova is a great example of a country who can benefit from Citizenship by Investment. The program is designed to be a synergistic relationship between the country and investor. The Public Sustainable Development Fund has one goal – ensure the sustainable development of the country. As investments are made, it will be invested in the country to assist with their efforts at modernization and reformation. The investments also provide funds to social services such as health care and social security. As the investments are made, the country improves, and the benefits of citizenship will grow.


Beyond the contribution option, it is expected that an investment option will be launched soon. This will create significant opportunities for real estate. As the economy has grown, the demand for real estate and rentals has grown as well. This has created a really strong rental market. In fact, Moldova has a 10.00% rental yield which is the highest in Europe: https://www.globalpropertyguide.com/Europe/Moldova/rent-yields


Currently, the country doesn’t have a lot of rental offerings and there is not enough new construction to meet the demand, but a new investment option under the citizenship program would change that. Early developers will be able to reap the benefits of being first into this market.


Overall, Moldova is a young and vibrant country which represents significant potential for growth. And now, with the advent of the citizenship by investment program, this opportunity is open to foreign investors.

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