Citizenship by investment (CBI) programs let you explore unique opportunities opening doors to global mobility, security for your finances and freedom. In 2024, some of the best citizenship by investment programs offer appealing advantages for investors aiming to obtain a second citizenship.
The citizenship programs span across various countries in different continents. They provide advantages for visa-free travel and tax regimes. In addition, these investment options help contribute to the economic development of the countries with CBI programs. It can be one of the Caribbean countries, on a sunny island, or a European country with many lifestyle advantages. Acquiring citizenship from the CBI countries lets investors reach out to diverse preferences.
Getting a second citizenship means that you will meet new opportunities for your business or have new options for studying and traveling. This global trend of internationalism and multiculturalism offers investors many chances in life, including opening international bank accounts, working abroad, and starting a new business.
In this guide, we will explore the best citizenship by investment (CBI) programs in 2024. You will get to examine citizenship through investment programs and learn about the criteria. You will also dig deeper into the investment options, processing times of the programs, and the benefits they offer.
What can you discover in this article:
- Benefits of Getting a Second Passport through Investment
- Best 9 Citizenship by Investment Programs
- Other Popular Citizenship by Investment Countries
- Investment Options to Obtain a Second Citizenship
- Invest in a Second Citizenship: Reasons & Advantages
What is Citizenship by Investment and How CBI Programs Work?
Citizenship itself is a concept that goes way back to ancient Greek towns and cities. There used to be citizenship for male property owners, and it was a privileged, not inclusive concept.
When it comes to today’s citizenship concept and citizenship by investment CBI program, it was St. Kitts and Nevis who first introduced the investment option in 1984. St. Kitts and Nevis set a precedent for other countries by including its 1984 Citizenship Act, one year after gaining its independence from the United Kingdom.
Sometimes, CBI programs can also be referred to as Golden Visa. However, Golden Visa programs are mostly residency by investment programs that aim to promote economic growth in a country through foreign direct investment. They are both similar programs in the end and offer various types of investment types. From real estate investments to charitable contributions, investors can choose among them. Citizenship by Investment programs is actually the process of getting a second citizenship and passport through investment in another country. So, what differentiates the CBI program is that investors are able to get citizenship status much faster than other traditional immigration processes and are able to use the benefits much earlier.
Benefits of Getting a Second Passport through Investment
There are many benefits to obtaining a second passport. Let’s discover some below:
Enhanced security: When you buy a second passport from a more stable country, you can plan your and your family’s safety and stability. In case of a crsis arise, you can have an alternative country for relocation and maintain your safety there.
Financial resilience: You can create an environment for risk diversification and wealth protection by investing in a foreign country and getting a second passport.
Improved quality of life: Depending on the country you get your second citizenship from, you can get access to superior healthcare, education, and other services. This way, a second citizenship can significantly improve your lifestyle, offering opportunities to experience new cultures and broaden your horizons.
Freedom of mobility: You may have more freedom after buying a second citizenship. It depends where you get your second citizenship if you and your family will be able to have visa-free travel to many countries including Schengen areas.
Political rights: As a dual citizen, you can participate fully in the political scene of the country in which you get your citizenship. You can vote and make donations to the political candidates you support.
Property ownership: Owning a property in either your home country or a second country is a benefit. Remember that some countries may be strict. Otherwise, you can buy property in a country where you buy a second citizenship.
Why People Buy a Second Passport as a Plan B Investment?
Certain benefits are available to dual citizens including the right to live and work freely in two countries, buying property, and traveling freely between the countries. Double taxation, though, can be one of the drawback of being a dual citizen.
Best 9 Citizenship by Investment Programs
Below, we compiled the list of the best citizenships by investment countries.
Dominica Citizenship by Investment (CBI)
Dominica Citizenship by Investment (CBI) Program allows investors to receive Dominica citizenship in exchange for investing in the country. If you choose to make a donation, it starts at $200,000. If you choose to make a real estate investment in Dominica to get citizenship, it is worth a minimum of $200,000 to buy a property.
You can sell your real estate purchase with a minimum value of USD 200,000 after three years on the open market. Plus, you can sell it after five years to a new citizenship by an investment investor.
It is a streamlined naturalization process that investors benefit from. You can get citizenship in just two years of residency. When compared, the standard period would be seen for years. Dominica’s citizenship by investment program has a favorable environment for individual investors and corporations. As a Dominica passport holder, you will not be subject to inheritance, capital gains, and wealth tax. If you decide to reside outside Dominica after getting citizenship by investment, you will not be liable to pay taxes on foreign income.
St. Lucia Citizenship by Investment (CBI)
St Lucia Citizenship by Investment (CBI) Program grants citizenship to investors who make significant financial investments in this country. There are many options, including real estate, business enterprise investments, or donations to the National Economic Fund of St. Lucia.
To get citizenship of St. Lucia, you need to invest USD 300,000 in real estate for 5 year period. You can invest in shares or full titled property. You have the option to arrange your finances for real estate investment through local banks.
As an applicant for the CBI program, you need to make the payment of $300,000 into a refundable government bond. It is also known as the National Action Bond, holding the investment for five years, after which the capital can be returned to you at 0% interest.
If you are a single applicant to this investment program, you may get a Saint Lucia passport for $121,050. Dual citizenship is still possible, so you can keep your first and second citizenship privileges. In the passport index, St. Lucia is on the nunber 32, with visa-free travel access to 148 countries.
Eventually, applicants of St. Lucia Citizenship by Investment Program need to make a significant economic contribution to the country. Following this, the applicants become subject to the application process and the due diligence checks.
St. Kitts & Nevis Citizenship by Investment (CBI)
There are multiple steps to take to qualify for the St Kitts and Nevis Citizenship by Investment (CBI) Program. You can choose the option to invest a minimum of $250,000 in the Sustainable Growth Fund, or $400,000 in government-approved real estate.
The St. Kitts & Nevis CBI Program is the only initiative that provides a fast track to citizenship. In addition, upon submission, you must pay a due diligence cost. The application is submitted through an Imperial & Legal agent who is permanently based in St. Kitts and Nevis. The timeframe is around 4 to 6 months.
Non-nationals can buy real estate on the sister islands of St Kitts and Nevis by applying for an Alien Landholding License (ALHL). They can also buy real estate in St Kitts-approved regions as part of the country’s citizenship by investment program.
Kitts and Nevis has an extremely permissive tax regime. You can enjoy a kind of paradise on the islands, as there is no income tax, inheritance tax, gift tax, duty, capital gains tax, or corporate tax. This implies that the money you earn, inherit, or invest stays right in your pocket.
Grenada Citizenship by Investment (CBI)
The Grenada Citizenship by Investment (CBI) Program has no minimum net worth requirement, and a $235,000 investment is sufficient for a single applicant or a family of four to get Grenada citizenship. It is important to remember that there is a distinct benefit of Grenada citizenship. Grenada citizens are the only Caribbean nationals who can settle in the United States using the US E-2 Visa, which is a non-immigrant visa.
The Grenada citizenship program requires a minimum donation of $235,000 or a property purchase starting at $220,000. Additionally, there will also be additional due diligence fees associated with the application procedure.
Grenada has no special drawback. However, all citizenship by investment programs comes at a significant expense. In addition to the investment amount, you must pay legal costs and other government fees as well. The investment amount for Grenadian citizenship begins at $235,000, plus other costs of getting a second citizenship. Grenada permits citizens, residents, and foreigners to buy property within the country.
Grenada does not require a visa to visit for stays of up to 90 days. While a visa is not necessary, you must have a passport that is valid for at least six months beyond the date of your departure from the country.
Moreover, Grenada is tax-free ccuntry regarding the capital gains and inheritance. The tax levied by Grenada’s inland revenue division on income only applies to global income for individuals.
Antigua & Barbuda Citizenship by Investment (CBI)
Here are the investment types for applying for Antigua and Barbuda Citizenship by Investment (CBI) Program:
- National Development Fund donation (minimum $100,000)
- Approved real estate project investment (minimum $200,000)
- Approved business venture investment (minimum $400,000)
- University of the West Indies Fund donation (minimum $150,000)
The minimal investment for citizenship is $100,000 for a donation to the National Development Fund. Real estate investments start at $200,000, while company investments require at least $1.5 million investment from a single investor.
You will need to prove the statement regarding the source of your funds to be invested in Antigua and Barbuda. Following the statement, you will be expected to present a sworn statement of support for each dependent, if you have any under 18, except the spouse.
The diverse economy of Antigua and Barbuda lays few limits on foreign investment in the country. In addition, there are no capital gains, wealth, gifts, inheritance, or global personal income taxes. So, this advantage makes this country suitable for CBI. Another benefit is that with dual citizenship, you are not compelled to surrender your present citizenship.
Montenegro Citizenship by Investment (CBI)
Investors of Montenegro Citizenship by Investment Program can make a real estate investment as well as a contribution. Investment options include €100,000 non-refundable payment to the state budget, plus another €100,000 gift to support regional development.
When it comes to Montenegro’s passport power, it is rated 46th in 2024. Also, Montenegrin passport holders can travel to 126 countries without a need for a visa.
US citizens do not need to obtain a visa to stay in Montenegro for up to 90 days. In addition, when you get Montenegro citizenship as a US citizen, you can stay in the country as much as you like.
Turkey Citizenship by Investment (CBI)
You can invest at least USD 500,000 in fixed capital contributions to apply for a Turkey Citizenship by Investment (CBI) Program. When you are making your investment, you may fund a Turkish bank account with at least USD 500,000, equivalent foreign cash, or Turkish Lira. Also, it is possible to invest a minimum of USD 500,000, equivalent in other currencies, or TRY in government bonds.
Purchasing the property allows the investor and their immediate family to seek Turkish citizenship. If you have a spouse and children under 18, they can be eligible to apply for citizenship with you as well. In addition, parents and children above the age of 18 can get a residency permit. You will be free to resell the property after three years of ownership.
Turkey allows dual citizenship, so, it gives you an opportunity to enjoy the benefits of two countries, subject to the laws of your other country of citizenship.
Malta Citizenship by Investment (CBI)
Malta Citizenship by Investment (CBI) program requires a minimum investment of €600,000 if you stated in Malta for 36 months having a residency, or €750,000 after 12 months. You can buy a residential property in Malta for minimum €700,000, which you need to keep for at least five years.
If you are an investor from the US, you can seek Maltese citizenship, which is also a European citizenship, through naturalization in exchange for extraordinary services provided by direct investment. To qualify, you need to spend at least €600,000 to complete a stringent due diligence investigation while meeting other investment requirements.
You also get the right to live, work, study, and retire in any nation in the EU. Visa-free travel to 190 countries from Malta is a plus. Furthermore, access to top-tier healthcare and education and a transparent and strong financial infrastructure are among the benefits of living in Malta.
Malta has accepted dual and multiple citizenship since February 2000. According to Malta’s Constitution, dual or multiple citizenship is permissible in compliance with any legislation currently in force in Malta. Thus, under Maltese law, you will not be required to relinquish your original citizenship.
Retiring is among the reasons why investors consider Malta as an option. There is another option for retirees, the Malta Retirement Program (MRP), which is the primary means by which US retirees can relocate to Malta permanently. To acquire it, you must be at least 55 years old, have a retirement income, own or lease property in Malta, and have private health insurance.
Vanuatu Citizenship by Investment (CBI)
Vanuatu established the Vanuatu Citizenship by Investment (CBI) program with the aim of boosting its economy and attract global investors. The country has subsequently established itself as a viable choice in the worldwide market for second citizenship. Moreover, there are no limitations for foreigners purchasing property.
According to our Passport Index evaluations, the Vanuatu passport ranks 45th in the world. It means that Vanuatu citizens can travel to 113 countries without a visa.
Vanuatu enables dual citizenship, which might be an essential consideration for many people. Furthermore, the official languages are English and French, so you may apply in any language, though, you may need to send certain documents in English.
Other Popular Citizenship by Investment Countries
Austria Citizenship by Investment (CBI)
Qualifying investments for Austria Citizenship by Investment (CBI) Program typically range from €800,000 to €10 million. They can take the shape of a joint venture, a direct investment in an operating firm that generates considerable employment growth, or the introduction of science, research, or innovative technology to Austria. In addition, it might also be a contribution to an appropriate public initiative.
You are expected to show at least 10 years of continuous presence in Austria, with a minimum of five years as a permanent resident. Showing sufficient financial resources/secure income is also necessary, among other requirements, such as an adequate understanding of the German language.
Egypt Citizenship by Investment (CBI)
The minimum investment that candidates can make is a non-refundable $250,000 commitment to the Egyptian government. Other alternatives include a $350,000 investment in an existing or new company, which would be a $300,000 real estate investment or a $500,000 deposit into an Egyptian bank account.
Jordan Citizenship by Investment (CBI)
To be eligible for the program, you are expected to spend at least $750,000 (USD) in real estate, tourism, or renewable energy. As an investor, you need to also satisfy certain conditions, such as passing background checks and proving adequate financial means.
Investment Options to Obtain a Second Citizenship
Here are common investment types.
Citizenship by Real Estate Investment
Investing in real estate is a tempting concept for many people since it provides not only a place to call home but also the prospect of profitable future returns. Over the last decade, various investment programs have evolved to enable people to earn citizenship or permanent residency through property ownership, also known as real estate citizenship.
Several countries have implemented similar citizenship programs to encourage foreign investors and improve their economies.
Citizenship by Donation Investment
You can get citizenship or residence in many ways, including citizenship by donation. Certain countries, such as the state fund of government, allow for citizenship by gift. This quick investment option demands a minimum donation of $100,000. This investment option is often utilized for public welfare projects and disaster aid in smaller nations.
Investment in Government Bonds
Looking into the reasons of why bonds, we can say it is because many high-net-worth individuals dislike the thought of donating money as an investment option. Plus, they do not want to have to deal with purchasing costly real estate or even managing reasonably priced property in order to get residency and citizenship via investment. For such investors, investing in bonds is the next best alternative.
Obtaining a Second Passport by Investment: Timeframes
The option is straightforward. The situation is that a country will grant you citizenship in exchange for an investment in the country or the purchase of real estate. So, it normally takes around six months to complete this process.
Invest in a Second Citizenship: Reasons & Advantages
Here are some of the reasons why investors are choosing to invest in a second citizenship.
Establishing an International Business
Investing in dual citizenship makes you a global citizen and allows you to internationalize your assets and money. Eventually, it results in wealth diversification. In many countries, political turbulence, economic turmoil, and financial uncertainty are motivating investors to seek new domestic and financial roots.
Traveling More, Spending Less Money
Dual citizenship has the potential to significantly broaden your travel opportunities. Almost all passports allow the holder of a passport to travel to certain countries based on international relations and diplomatic relationships between them. It involves having a second passport, but your travel options are significantly expanded. Therefore, the more passports you have, the more freely you can travel throughout the world.
Securing Your Future
We all have goals like constructing larger and brighter futures. However, political, economic, and socioeconomic issues in our own countries sometimes block our goals. Dual citizenship overcomes this problem and gives you the freedom, security, and peace of mind to choose your future. It might also provide access to strong healthcare systems, worldwide educational possibilities, safe and secure neighborhoods, public transit, and much more.
Providing A Better Education for Your Children
It is the nature of parents to wish to provide their children with the finest education possible. With a second passport, you can offer just this, knowing that your children can enjoy a world-class education in a safe and secure setting. You may enable this by opening the international doors so that their futures and generations to come are securely open.
Passing Citizenship for Generations to Come
Your dual citizenship is guaranteed, and you will also be able to pass your dual citizenship down to future generations. Becoming a global citizen changes your life and future, offering many opportunities. Furthermore, acquiring a second passport opens doors worldwide, giving you choices on how you conduct business, how you travel, where you educate your children, and how you live life in general.
The Wrap Up
If you are planning to apply for a citizenship by investment (CBI) program, there will be many options, as we mentioned in this article. Sometimes, you may find the process easier, and sometimes, you may face some issues along the way. Therefore, you will need to review and plan your journey toward one of the best citizenship by investment countries.
You will be able to get many benefits, including enhanced quality of life, asset protection, and access to critical social services. You may check the costs, see if there is a tax burden these countries suggest, or see if it will be an economic citizenship that will simplify your finances.
Frequently Asked Questions
Why citizenship by investment?
Citizenship by investment programs provides families with second citizenship, which in turn gives them the right to travel freely to various countries and to reside in another country.
What is citizenship by investment?
Citizenship by investment programs let families get the privilege of obtaining an alternative citizenship. Over 100 countries throughout the world have some type of investment migration legislation.
Who can obtain a passport by investment?
Anyone who is a non-EU citizen can obtain a passport by investment. Citizenship by Investment (CBI) programs allow investors to acquire a second passport by making a significant financial contribution to a country.
What is the strongest passport in the world?
There are many strong passports in the world according to passport index, many of which are European countries including France, Germany, Italy, Japan, Spain (194 countries) Austria, Finland, Ireland, Luxembourg, Netherlands, South Korea, Sweden (193 countries) Belgium, Denmark, New Zealand, Norway, Switzerland, United Kingdom (190 countries) Australia, Portugal (191 countries). You can also check Portugal citizenship by investment requirements if you are curious about the route.
Which country has the best citizenship benefits?
These are the top 5 countries to get citizenship:
The United Kingdom, Australia, Finland, The United States, and Switzerland.
You can also check “Panama Citizenship” benefits.
How much money to invest in Canada to get citizenship?
The investment amount to buy Canadian citizenship typically ranges from $200,000 to $400,000. However, it depends on the province, location, and the nature of the business.
What is the golden visa for USA?
The EB5 Visa can be considered as the Golden Visa of the US.
How much should you invest in Germany to get citizenship?
There is no minimum investment amount that will qualify you for a German investment visa. However, you might need to invest at least €360,000.
