17 best golden passports in 2024

Citizenship by investment (CBI) programs offered by certain countries are sometimes referred to as ‘golden passport’ programs.

These programs allow individuals to obtain citizenship in a foreign country in exchange for a significant financial investment, usually in real estate, government bonds, or a local business.

All citizenship by investment options

For investors, one of the primary advantages is enhanced global mobility. Citizens of countries with weaker passports can gain visa-free or visa-on-arrival access to a broader range of countries.

A second passport can also provide a safety net in case of political or economic instability in one’s home country, offering an alternative place to live or conduct business.

For host countries, these programs can attract significant foreign investment, which can boost the local economy, particularly in sectors like real estate and tourism. The funds can be used for infrastructure development, social programs, or other government initiatives. Moreover, the influx of investors can lead to job creation and increased international connections, enhancing the country’s global profile.

Comparison of golden passport options

Country

Antigua and Barbuda

Minimum investment

$230,000

Processing time

6+ months

Country

Austria

Minimum investment

€2,000,000

Processing time

2—3 years

Country

Dominica

Minimum investment

$200,000

Processing time

6+ months

Country

Egypt

Minimum investment

$250,000

Processing time

10+ months

Country

Grenada

Minimum investment

$235,000

Processing time

8+ months

Country

Jordan

Minimum investment

$750,000

Processing time

3+ months

Country

North Macedonia

Minimum investment

€200,000

Processing time

5+ months

Country

St Kitts and Nevis

Minimum investment

$250,000

Processing time

6+ months

Country

St Lucia

Minimum investment

$240,000

Processing time

6+ months

Country

Turkey

Minimum investment

$400,000

Processing time

8+ months

Country

Vanuatu

Minimum investment

$130,000

Processing time

1+ months

1. Global mobility. Golden passports grant visa-free or visa-on-arrival access to many countries, enhancing travel freedom for passport holders.

2. Investment opportunities. By obtaining a golden passport, investors gain access to new markets, real estate, and business opportunities in a new country, as well as a chance to get a profit from the investment itself.

3. Tax optimisation. Some countries offering golden passports have favourable tax regimes, allowing individuals to optimise their tax liabilities. For example, most Caribbean countries do not impose taxes on personal income, while Vanuatu enables companies to pay a flat $300 fee instead of a corporate tax for 20 years.

4. Security. A second passport provides a safe haven during political, economic, or social unrest in one’s home country. Investors can enter the country of their second citizenship at any moment, even if the borders are closed, and spend an indefinite amount of time there.

5. Education and healthcare. Golden passport holders have the same access to education and healthcare systems in their new country as all other citizens, meaning lower or no costs for investors and their family members.

6. Family benefits. Most golden passport programs extend citizenship to family members, ensuring the same advantages, at least for spouses and children.

7. Lifestyle improvement. Citizenship in a new country can offer an improved standard of living, including a better climate, culture, and quality of life.

Five Caribbean countries have government-approved citizenship by investment (CBI) programs. The key differences between them are expenses, investment options, and time frames. However, all of them are among the fastest and least expensive CBI programs in the world.

Dominica has the lowest investment requirement: it is possible to obtain citizenship by contributing $200,000 to the Economic Diversification Fund or purchasing real estate for the same amount. Real estate buyers can sell the property in 3 years and return their investment.

The procedure takes at least six months and can be completed remotely, with no language or history tests required.

Dominica passport holders can travel to over 140 countries without a visa. Another benefit is the possibility of tax optimisation: Dominica residents do not pay taxes on wealth, gifts, capital gains, or inheritance.

Antigua and Barbuda citizenship can be obtained by investing at least $230,000 as a non-refundable contribution to the National Development Fund. Families of six people and more can also donate $260,000 to a higher education institution.

Real estate purchase is also an option: investors buy shares and properties in government-approved real estate projects for at least $300,000. They will be able to bring the investment back in 5 years.

Finally, there is an opportunity to obtain Antigua and Barbuda citizenship through investing in a local company. The minimum amount required is $400,000.

The passport can be obtained in six months. To keep it, investors must spend in Antigua and Barbuda at least 5 days within the first 5 years.

Antigua and Barbuda citizens can travel to over 150 countries without applying for a visa beforehand and are eligible for 10-year visitor visas to the United States. The country’s residents also do not pay taxes on personal income, inheritance, capital gains, dividends, interest, or royalties.

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St Lucia offers five options to apply for citizenship by investment:

• a non-refundable contribution to the National Development Fund — $240,000;

• infrastructure project investment — $250,000;

• real estate purchase — $300,000;

• purchase of government bonds — $300,000;

• business investment — $1,000,000.

Purchasing government bonds will allow citizenship applicants to return their investment after 5 years.

The procedure takes 6 months, with no need to travel to St Lucia or pass any interviews or tests.

St Lucia does not tax its citizens on global income, dividends, inheritance, capital gains, or wages. Investors can enter the country at any moment but are not obliged to live there to maintain citizenship. They are also able to travel to over 140 countries without a visa.

Grenada citizenship by investment program has two options for applicants: a non-refundable contribution to the National Transformation Fund or a property purchase.

For the first option, the minimum investment threshold is $235,000. The funds will be used to finance local projects in tourism, alternative energy, agriculture, and other local industries.

For the real estate option, the minimum amount required is $270,000 for a share purchase if:

• the real estate project is approved by the Government of Grenada;

• at least two people invest in it;

• the total sum of the joint investment is no less than $440,000.

Alternatively, a sole investor can buy a property for $350,000. In five years, it can be sold.

The passport obtainment procedure can take 8 months or more.

Grenada citizens can travel visa-free to over 140 countries, including the Schengen Area and China. They can also qualify for an E—2 business visa to the USA, allowing them to live and work in the country. The tax regime is also favourable, as individuals are not taxed on global income, dividends, interest, or royalties from other countries.

St Kitts and Nevis has the oldest CBI program in the Caribbean region. It is also the most expensive: the minimum threshold for the non-refundable contribution is $250,000, marginally higher than in the other Caribbean countries.

For real estate investors, there are three options:

• a share in a government-approved real estate project — $325,000;

• a condominium unit designated as an Approved Private Home — $325,000;

• a single-family private dwelling designated as an Approved Private Home — $600,000.

Investors must hold the property for at least seven years to comply with the CBI program terms. The procedure of obtaining the passport takes at least 6 months.

A St Kitts and Nevis passport allows its holders to enter 153 countries without a visa, giving them more freedom of travel than other Caribbean states. St Kitts and Nevis tax residents do not pay taxes on wages, capital gains, inheritance, dividends, interest, or royalties.

Vanuatu offers the cheapest and fastest CBI programs in the world. The small country in Oceania allows investors to apply for citizenship after contributing just $130,000 to its economy.

The money goes to the state fund and is then distributed to help develop Vanuatu’s economy and fight against natural disasters.

Another option is buying shares of the CNO Future Fund holding company, which is dedicated to developing coconut oil as a renewable energy source. The minimum threshold is $157,000, which can be returned in 5 years.

The process of becoming a Vanuatu citizen by investment can take as little as one month. Applicants do not need to take language or history tests, but they must travel to Vanuatu or their embassies in Brussels, Dubai, Hong Kong, or New Caledonia to submit biometrics.

Investors can benefit from a favourable tax regime for companies by establishing an international business company. Such companies would be exempt from taxes on corporate profits, personal income, capital gains, inheritance, or donations for 20 years. Instead, they will pay a flat annual fee of $300.

Individual cost calculation for Vanuatu citizenship

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Egypt launched a CBI program in 2020. There are four investment options to obtain a passport of the North African country:

• a non-refundable contribution — $250,000;

• a real estate purchase — $300,000;

• business investment — $350,000;

• a deposit at the Central Bank of Egypt — $500,000.

The real estate and business investment option will allow an applicant to return the money 5 years after obtaining citizenship. For the bank deposit option, this opportunity becomes available 3 years after obtaining the passport.

It takes at least 10 months to obtain citizenship. Investors do not have to take exams on Arabic or Egyptian history. They are also not obliged to reside within the country to keep their passport.

Investors who want to open a business in Egypt can do that in nine public free zones across the country where companies are exempt from corporate tax.

Turkey’s citizenship by investment program offers five options. Purchasing real estate is the cheapest and the most popular way for investors to apply for citizenship: the minimum amount required is $400,000, both for residential and commercial properties.

Other options to participate in the Turkey CBI program include:

• business investments — $500,000;

• deposit in a Turkish bank — $500,000;

• purchase of units in an investment fund — $500,000;

• purchase of government bonds — $500,000.

All options allow the investor to return the money three years after obtaining citizenship in Türkiye.

The process of becoming a Turkish citizen takes at least 8 months. The investor and their family members must be present at the migration service in Turkey to submit the application.

Turkish citizens can travel to over 120 countries without a visa and are eligible for a C—2 Schengen visa for 5 years.

Individual cost calculation for Turkish citizenship

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Jordan receives citizenship applications from foreigners willing to invest at least $750,000 in the country’s economy. An application is processed in three months.

There are three possible avenues to apply for a Jordan passport:

• investing in a local enterprise — $750,000;

• bank deposit and treasury bonds — $1 million;

• company shares and/or units — $1.5 million.

Jordanian citizens can travel to over 80 countries without a visa or with a visa on arrival. The list includes destinations like Australia, India, South Africa, Turkey, and Egypt.

North Macedonia is a small country located in Southeastern Europe, but it is not a member of the European Union. However, citizens of this country can travel across the Schengen Area without a visa, making it a good option for investors who want to obtain citizenship in a European country.

There are two options to obtain citizenship by investment in North Macedonia:

• buying investment fund units — €200,000;

• investing in a new local company and creating 10 jobs — €400,000.

There is no minimum residence period or language requirement for applicants to obtain citizenship. The application processing time is up to 5 months.

Austria has one of the longest and most expensive citizenship by investment options. It also has one of the strongest passports in the world, allowing its citizens to travel to over 170 countries without a visa.

An applicant must actively invest directly into the country’s economy for three years for their application to be considered on a case-to-case basis. There is no strict threshold for Austrian citizenship, but it can involve investments between €2—10 million.

Obtaining citizenship by investment in Austria has no formal application process, but it is estimated that it can take between 24 and 36 months.

Golden Visa is another commonly-heard term linked with investors moving to another country. However, it does not mean that they are receiving a passport from the said country.

Instead, a Golden Visa is a residency by investment program that allows foreigners to obtain temporary or permanent residence permits. In most cases, obtaining a Golden Visa makes an investor eligible to apply for citizenship in several years.

The Portugal Golden Visa remains popular even after real estate purchase was ruled out as an option in 2023. The South European country with a pleasant climate and an affordable cost of living, as well as a five-year path towards citizenship, is still attractive for foreign investors.

The minimum investment threshold is €250,000 for supporting arts and restoring cultural heritage. The most popular option, however, is buying investment fund units for €500,000, which can be returned to the applicant after five years.

Individual cost calculation for residence by investment in Portugal

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The Hungary Golden Visa was relaunched in 2024, making it one of the newest programs available for non-EU and non-EEA investors.

The minimum investment amount is €250,000. Investors can choose from three options: purchase of real estate fund units, property purchase, and donation to a higher education institution.

The Golden Visa residence permit is granted for 10 years and may be extended once for the same period. Investors are not obliged to live in Hungary, but if they do, they become eligible for permanent residency after 3 years. Those living in Hungary with a permanent residence permit for 8 years can apply for citizenship.

The Greece Golden Visa is another program with real estate purchase as an option. The cheapest path is to invest €250,000 for a Golden Visa into commercial real estate to convert it for residential use or renovate a building.

The Golden Visa is valid for 5 years and can be renewed an unlimited number of times. Foreigners can get Greek citizenship after spending at least 183 days per year in the country for 7 years.

The Italy Golden Visa has €250,000 as its minimum investment requirement. Foreigners can invest these funds into an innovative startup to become eligible for a residence permit.

Italy Golden Visa holders can apply for citizenship after residing in the country for 10 years.

Spain’s Golden Visa is a more expensive option, requiring a minimum investment of €500,000 in residential and commercial real estate in the country.

If investors live in Spain for 5 years, they become eligible for permanent residency. Citizenship becomes an option after 10 years, but Spain forbids dual citizenship in most cases.

Cyprus offers permanent residency to foreigners willing to invest at least €300,000. There are four paths with the same minimum investment threshold a potential applicant can take:

• purchase of residential property;

• purchase of commercial property;

• purchase of shares of Cypriot companies;

• purchase of securities.

If permanent residents want to obtain Cyprus citizenship, they will be eligible to apply for it after living there for 8 out of the previous 11 years.

1. A golden passport is a way to refer to citizenship by investment programs, which allow foreigners to obtain citizenship of another country in exchange for a significant financial investment.

2. Investors can obtain citizenship by investing as little as $130,000 in Vanuatu or $200,000 in the Caribbean.

3. A Golden Visa is not the same thing as a golden passport; it refers to obtaining a residence permit for investment. It is possible in several European countries, such as Portugal, Spain, and Hungary.

4. Holders of Golden Visas enjoy almost all the benefits of citizenship, including access to the countries’ healthcare, education, and business opportunities.

5. Investors are usually eligible to obtain citizenship after living for 5—10 years in the country with a Golden Visa.