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Citizenship by Investment Countries List; Which Are the Cheapest/Best?

I’m lucky to have 2 passports, Irish and British. Although despite living in Thailand, that’s almost impossible! Getting a second passport isn’t just for super-rich oligarchs or international businessmen anymore. In today’s global world, having a second citizenship offers incredible freedom, whether it’s for visa-free travel, tax planning, or simply opening up opportunities in other countries. There’s something pretty badass about holding two passports, and the good news is, for those who can make an investment, second citizenship by investment (CBI) is more accessible than ever.

You’ve probably seen headlines about people getting dual citizenship, but what you may not know is that several countries offer a pathway to citizenship in exchange for an investment. Yup, you can literally buy a second passport (legally), and in some cases, without even needing to move to that country.

In this post, I’ll walk you through some of the top countries where you can buy citizenship by making an investment, what the requirements are, and what you can expect from your shiny new passport.

What is Citizenship by Investment?

Before we get stuck in, let’s clear up what we mean by Citizenship by Investment. Essentially, this is when a country allows you to become a full citizen by making a significant investment in the country’s economy. The investment could be in real estate, government bonds, or a direct donation to a national development fund. The specifics vary depending on the country, but the end result is the same: you get a second passport, complete with all the perks that come with it.

Now, let’s dive into the countries that offer this.

List of countries that offer citizenship by Investment:

Here’s a list of countries where you can obtain citizenship by investment, along with the required investment amounts:

Direct Citizenship by Investment (CBI) Programs:

These countries allow you to gain citizenship directly through investment.

1. Antigua and Barbuda ($100,000+ donation or $200,000+ real estate)

2. Saint Kitts and Nevis ($150,000+ donation or $200,000+ real estate)

3. Saint Lucia ($100,000+ donation or $300,000+ real estate)

4. Dominica ($100,000+ donation or $200,000+ real estate)

5. Grenada ($150,000+ donation or $220,000+ real estate)

6. Vanuatu ($130,000+ donation)

7. Turkey ($400,000+ real estate)

8. Jordan ($750,000+ investment)

9. Malta (€600,000+ donation/investment + real estate purchase/rental)

10. North Macedonia (€200,000+ investment)

11. Cambodia ($250,000+ investment)

12. Egypt ($250,000+ donation)

13. Montenegro (€450,000+ real estate and donation)

14. Moldova (Previously €100,000+ donation, currently suspended)

15. Cyprus (Previously €2 million+ investment, currently suspended)

Residency by Investment (RBI) Programs Leading to Citizenship:

These countries offer residency through investment, which can lead to citizenship after fulfilling certain conditions, such as residing in the country for a specific number of years.

16. Portugal (Golden Visa – €280,000+ real estate or €500,000+ for general investment)

17. Spain (Golden Visa – €500,000+ real estate)

18. Greece (Golden Visa – €250,000+ real estate)

19. Bulgaria (€512,000+ government bonds or real estate)

20. Austria (Investment typically €3 million+ for direct citizenship)

21. Italy (€250,000+ investment or €500,000 in an Italian company)

22. Ireland (€1 million+ investment fund or real estate)

23. United Kingdom (Tier 1 – £2 million+ investment, currently suspended)

24. Germany (€250,000+ business investment with job creation)

25. Belgium (€350,000+ investment with business setup)

26. Switzerland (High-net-worth tax deals based on local canton, typically €250,000+ per year)

27. Latvia (€250,000+ real estate or investment)

28. Luxembourg (€500,000+ business investment)

29. Netherlands (€1.25 million+ investment in a Dutch business)

30. Canada (Quebec Immigrant Investor Program – CAD 1.2 million+ investment)

31. Australia (AUD 1.5 million+ investment)

32. New Zealand (NZD 3 million+ investment)

33. United States (EB-5 Immigrant Investor Program – $800,000+ in a targeted employment area)

34. Singapore (SGD 2.5 million+ investment)

35. Thailand (Elite Visa – $19,000+ for 5-year residency visa)

36. United Arab Emirates ($1 million+ real estate or $2.7 million+ business investment)

37. Monaco (€500,000+ bank deposit or real estate)

38. Hong Kong (Requires a significant business or property investment, around $1.3 million+)

39. Panama ($300,000+ investment or real estate)

40. Argentina (Real estate or business investment, amount varies, typically around $1.5 million+)

5 Best Countries for Citizenship by Investment

1. Saint Kitts and Nevis

Saint Kitts and Nevis is often called the “Platinum Standard” when it comes to Citizenship by Investment programs. It was one of the first countries to introduce such a scheme back in 1984, and it remains one of the most popular today.

• Investment required: To get citizenship in Saint Kitts and Nevis, you can either make a donation of $150,000 to the country’s Sustainable Growth Fund or invest in real estate for at least $200,000.

• Processing time: You can get your new passport in just 2-3 months. The application process is straightforward, and the government has streamlined it over the years.

• Perks: As a citizen, you’ll enjoy visa-free travel to over 150 countries, including the EU Schengen Zone, the UK, and Hong Kong. The tax benefits are also a big draw, with no income tax, capital gains tax, or inheritance tax.

One of the best parts of this program is that you don’t even need to visit the country. You can get your citizenship and passport without stepping foot in the Caribbean, though I’d recommend a visit at least once for some tropical vibes.

2. Malta

Another top contender is the Mediterranean island nation of Malta. While the Maltese CBI program has undergone some changes in recent years, it’s still one of the most respected (and expensive) options out there.

• Investment required: To get citizenship in Malta, you’re looking at a minimum investment of around €600,000, which includes a contribution to the national development fund. You’ll also need to buy or rent property in Malta for at least €700,000 (or rent for €16,000 per year), and make a donation to a Maltese non-profit.

• Processing time: Citizenship in Malta can take between 12 and 36 months depending on the specifics of your investment.

• Perks: Maltese citizens enjoy EU citizenship, which means you can live, work, and study anywhere in the European Union. The Maltese passport is also incredibly powerful, offering visa-free travel to over 180 countries, including the US, Canada, and Australia.

If you’re interested in a European second citizenship with a world-class passport, Malta might be your best bet, though it does come with a hefty price tag.

For a more personal story about my time in the Mediterranean, check out how I managed to get deported from Kuwait and ended up in the Med.

3. Dominica

Not to be confused with the Dominican Republic, Dominica is a small island nation in the Caribbean known for its stunning natural beauty and, of course, its citizenship by investment program. What makes Dominica stand out is the affordability compared to other CBI programs.

• Investment required: The cheapest route to citizenship is through a donation to the Economic Diversification Fund, which starts at $100,000. Alternatively, you can invest in real estate for at least $200,000.

• Processing time: You can expect to get your Dominican passport in around 3-4 months.

• Perks: Like Saint Kitts and Nevis, Dominica offers visa-free access to over 140 countries, including the UK, Schengen Zone, and Singapore. Dominica’s citizenship program is also one of the most cost-effective, making it a great option if you’re looking for an affordable second passport.

4. Turkey

Turkey’s Citizenship by Investment program has seen a surge in popularity recently, largely because it offers a middle-ground option between the Caribbean and Europe.

• Investment required: You’ll need to invest at least $400,000 in real estate to qualify for Turkish citizenship. There are other routes, like depositing $500,000 in a Turkish bank, but real estate is the most popular.

• Processing time: Turkey offers one of the fastest routes to citizenship, with passports being issued in just 3-4 months.

• Perks: Turkish citizens enjoy visa-free travel to over 110 countries, including Japan and South Korea. And while it doesn’t get you visa-free access to the EU or US, Turkish citizenship does offer a strategic base between Europe and Asia.

For more on how strategic location plays a big role in choosing where to base yourself, take a look at how I manage my digital nomad life.

5. Vanuatu

Last but certainly not least is Vanuatu, a Pacific island nation with one of the fastest CBI programs available. If you want a quick and easy passport without breaking the bank, Vanuatu’s program is worth considering.

Investment required: The minimum donation to Vanuatu’s Development Support Program is $130,000 for a single applicant.

Processing time: You can get your passport in as little as 1-2 months, making Vanuatu one of the fastest options available.

Perks: Vanuatu citizens enjoy visa-free access to over 130 countries, including the UK, Russia, and the Schengen Zone. Plus, there are no income, inheritance, or capital gains taxes, making it a great option for those looking to optimize their tax situation.

What You Should Consider Before Applying

While the idea of a second passport sounds glamorous, there are a few things to consider before diving in:

1. Costs: As you’ve probably noticed, these programs don’t come cheap. Make sure you’re clear on the full costs, including government fees, due diligence fees, and any additional expenses like real estate purchases.

2. Legal Considerations: Not all countries allow dual citizenship, so you’ll want to check the laws in your home country before applying.

3. Investment Returns: Some of these programs require significant real estate investments, so make sure to do your homework on the local property market.

4. Long-Term Goals: Why are you seeking a second citizenship? Whether it’s for better travel options, tax advantages, or future opportunities for your kids, make sure the program aligns with your long-term plans.

FAQs

1. how many countries offer citizenship by investment?

It can vary depending on political states, but generally speaking at any given time around 12-15 countries officially offer direct citizenship by investment (CBI) programs.

However, there are additional countries that offer residency by investment (such as Portugal, Spain, and Greece). Which can lead to citizenship after fulfilling residency requirements over several years. If you include these residency-to-citizenship pathways, the number of countries increases significantly.

So, depending on whether you’re focusing strictly on direct CBI programs. Or including residency programs that lead to citizenship, the total number of countries offering some form of investment-based citizenship can range from around 12 to 40.

2. Can I live in any EU country with Maltese citizenship?

Yes, Maltese citizenship gives you full EU citizenship, allowing you to live, work, and study in any EU member country.

3. How long does it take to get citizenship in Saint Kitts and Nevis?

The process usually takes around 2-3 months, making it one of the fastest citizenship by investment programs available.

4. Do I have to live in Turkey to get Turkish citizenship?

No, you don’t need to live in Turkey. You can obtain citizenship simply by making the required investment.

5. Is citizenship by investment legal?

Yes, citizenship by investment is legal in the countries that offer these programs. They have specific laws in place that allow individuals to obtain citizenship in exchange for investment in their economies. You can read more about citizenship by investment on Wikipedia.

Whether you’re looking to expand your travel horizons or plan for the future, obtaining a second passport through citizenship by investment can open up a world of opportunities. Just make sure to do your homework and choose the program that fits your goals.

If you’re interested in my crazy story about how I’ve managed to make travel and life a full-time thing, check out my story and learn how you can do it too.