Citizenship by investment allows individuals to obtain citizenship and a second passport by making a financial investment in a country. This can involve real estate purchases, government bonds, or investments in local businesses.
Often, obtaining a second citizenship is motivated by one’s desire to gain access to greater mobility, better quality of life and financial freedom.
Important factors to consider
If you’re considering citizenship by investment programs, consider these factors:
- Financial requirements. Assess the cost and determine if the investment requirements align with your budget and capabilities.
- Program benefits. Evaluate the benefits of each program and how they align with your personal and professional goals.
- Eligibility criteria. Review and ensure that you meet all program requirements before applying for citizenship.
- Reputation and stability. Research the political and economic stability, and overall quality of life of countries offering this program.
Top countries with citizenship by investment programs
In recent years, citizenship through investment programs has gained popularity among foreign investors. However, not all programs are created equal. Some programs are more suitable for certain individuals than others.
In addition, not all countries have the same requirements and restrictions, which you should be aware of before deciding.
Malta
The Malta Individual Investor Program was launched in 2014 as a result of an amendment to the Citizenship Act.
Applicants are required to contribute a non-refundable donation of $720,000 to the National Development Fund for the principal applicant. Moreover, applicants must invest a minimum of $166,000 in government bonds or shares approved by the Maltese government. In addition, they are obliged to invest at least $387,000 in Maltese real estate or pay an annual property rent of $17,700 for at least five years.
Maltese citizenship also provides eligibility to establish a business in the country, affording visa-free travel to more than 160 countries worldwide, including the United States.
Portugal
Introduced in 2012, this program is Europe’s most popular investment visa scheme due to its flexibility, cost, and benefits. The program has attracted over $6.6 bn of inward investment since its introduction.
Investing $554,000 in Portuguese real estate qualifies a family, including dependent children, for a golden visa residency permit. While there are alternative investment methods available, investing in real estate accounts for more than 92 percent of all applications.
Turkiye
The Turkey citizenship by investment program offers investors access to the European and Asian markets. In addition, it also provides the chance to secure citizenship in a country that is currently in negotiations with the EU for full membership.
For investment options, the real estate route is the most popular. It involves purchasing a property with minimum value of $250,000 plus accompanying fees. Processing time to gain citizenship typically takes six to nine months from submitting the application until receiving approval.
Montenegro
Investing in Montenegro requires a minimum financial investment of $388,000. This includes $277,000 designated for a real estate investment and $111,000 required as a donation to the country.
The application processing time for gaining approval lasts around three months from the date of submission.
Austria
Austria stands out as the sole Western European country that allows individuals to acquire citizenship by investment without the need for prior residency.
To establish Austria as a second home, interested individuals must make a minimum investment contribution of $3.3 mn.
While the specific processing time varies depending on the individual application, it typically takes between 24 and 36 months to complete.
Read: Citizenship by investment: COVID, Ukraine war have changed priorities
Affordable pathways to citizenship by investment
Saint Kitts and Nevis
Saint Kitts and Nevis has the oldest citizenship-by-investment program, established in 1984.
Upon successful application, candidates can gain St. Kitts citizenship, a certificate of naturalization, and a passport. This citizenship opportunity offers visa-free travel to 166 countries worldwide. There are two ways to get citizenship: donate at least $150,000 or invest a minimum of $200,000 in government-approved real estate projects.
The program does not require applicants to meet any minimum stay requirements or to take an interview or language test. St. Kitts’ citizens can live, work, or study there, but this is not a necessary prerequisite for the program.
Saint Lucia
The Saint Lucia Citizenship-by-Investment program offers three main investment routes for applicants: donation, real estate investment, and government bond investment.
The first investment route is by donating $100,000 in addition to applicable fees. On the other hand, the second option is investing in government-approved real estate projects, with a minimum investment starting at $200,000. Finally, the third route involves a five-year investment in government bonds.
Successful applicants to the program will receive St. Lucia citizenship and a passport, granting them visa-free travel to more than 158 countries.
Dominica
Dominica’s citizenship by investment program, introduced in 1993, has become popular due to its affordability.
Applicants can choose between two main paths. The first is to donate to Dominica’s National Development Fund. The second option, introduced in January 2015, is to invest in approved real estate projects. The program requires a minimum investment of $100,000 in addition to applicable fees.
One of the benefits of obtaining Dominican citizenship is the ability to travel visa-free to more than 153 countries, including the European Union’s (EU) Schengen zone.
Grenada
Launched in 2013, Grenada’s citizenship by investment program is open to applicants from all countries. However, background checks are conducted rigorously.
There are two main investment options for the program. One is donating a minimum of $150,000 to Grenada’s National Transformation Fund. The other is investing a minimum of $220,000 in government-approved real estate projects.
Successful applicants gain Grenada citizenship, a naturalization certificate, and a passport for visa-free travel to more than 153 countries.
Antigua and Barbuda
The citizenship by investment program in Antigua and Barbuda offers investors a second passport. This passport allows visa-free travel to more than 160 countries, including Hong Kong and Switzerland.
There are multiple investment options available for obtaining citizenship in Antigua. Investors can opt to contribute $100,000 to the Antigua National Development Fund.
Alternatively, they can invest $1.5 mn to establish a business ($5 mn for two or more investors). Another option is to invest $400,000 in a government-approved real estate project, with a reduced investment of $200,000 for connected investors.
Frequently Asked Questions
Q: Can I retain my citizenship if I obtain a second citizenship through investment in another country?
In most cases, you can keep your citizenship after obtaining a second passport. It is better to check with your embassy to confirm whether your country of origin allows you to have dual citizenship. In addition, you can check with agencies assisting you with your citizenship by investment program. State your intent of having dual citizenship before commencing the process.
Q: What are the benefits of obtaining citizenship through investment?
Obtaining citizenship through investment offers numerous benefits. Aside from visa-free travel, you can also have access to good healthcare and education, depending on your country of choice. Other advantages include possible tax benefits, business opportunities and, overall, a secure future for you and your family.
Q: Are there any risks involved in citizenship through investment programs?
Citizenship by investment programs have advantages, but there are risks to consider. These include potential changes in legislation, market fluctuations, and ensuring legitimacy. Prior research and professional advice are crucial before proceeding with any citizenship investment program.
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