Top 15 countries where you can obtain a passport by investment

Citizenship of some countries can be obtained by investing money in the local economy: buying real estate or securities, starting a business, or creating jobs. This citizenship is called investment citizenship.

If you decide to obtain citizenship by investment, you do not need to speak the country's language or even do not have to reside there.

Which countries offer citizenship by investment?

Obtaining second passports by investment in some countries is easier and faster than in others. For example, you can become a citizen of Grenada in just 4—6 months and invest $150,000. Grenada’s passport opens visa-free travel to the Schengen Area and the UK and makes obtaining a long-term business visa to the United States possible.

Antigua and Barbuda, Saint Lucia, and Dominica offer the most affordable citizenship by investment programs. Minimum investment starts at $100,000.

The rating covers all the countries that have citizenship by investment programs. They are ranked according to their popularity among investors worldwide.

Note that Malta citizenship isn’t granted under an investment program. Investors pursue a naturalisation path where they get residence permits and can apply for citizenship 1 or 3 years later and after passing a strict Eligibility Test.

Citizenship by investment is one of the easiest ways to obtain a second passport. In the meantime, some countries allow their citizens to have several passports, while countries like Spain and Austria don’t. If you acquire a Spanish passport, you must renounce your first citizenship.

Countries where it is easy to get citizenship

The second citizenship does not oblige the bearer to live in a country and offers the following opportunities:

• enter 82—170 countries of the world without visas, including the EU and the USA;

• obtain citizenship immediately for the whole family;

• register a company and do business in another country;

• acquire all rights on an equal basis with residents: enrol children in schools and universities for free or cheaper than for foreigners, enjoy tax benefits, get medical treatment in the local clinics;

• quickly move to another country in case of an unforeseen event;

• get access to better healthcare and education;

• open up a wider range of career opportunities;

• avoid compulsory military service;

• enjoy a comfortable retirement in a peaceful country with a warmer climate;

• create a safe haven abroad.

Second citizenship is not a dual citizenship. Dual citizenship means that two countries recognise a person as their full-fledged citizen with the obligation to pay taxes only in the country of permanent physical residence.

All countries have different conditions for issuing second citizenship by investment. The amounts and types of investments, requirements for investors, registration costs, investment terms, and the process of obtaining citizenship differ.

The investment amount may consist of several parts. One part when acquiring nationality by investment is an irrevocable contribution to the country’s economy in exchange for a passport: this money cannot be returned. The second possible part is an investment in local real estate, securities, business, or other assets. They can be sold on average after 5 years. Such investments can be profitable.

When considering countries for second citizenship, it is important to think of the amount of state fees, lawyers’ services, translation, and legalisation of documents. If you buy real estate, additional costs will be required to pay taxes and services provided by lawyers.

The requirements for an investor are different in each country. First of all, to obtain a passport by investment, you need to show sufficient income or significant savings, which will be enough to support the family.

An investor can apply for citizenship immediately for the entire family: spouse, children, and applicant’s parents. Each additional applicant, including spouse and children, will have to pay extra fees. An important condition is that children are over 18, and parents must depend financially on the investor.

Due Diligence procedure is an important stage of any investment program. In other words, this procedure is called a reliability assessment. All the countries with citizenship by investment require passing the Due Diligence check.

Local authorities, with the help of the international criminal police, verify that the money for the investment has been earned legally. In most programs, this is a paid service. On average, Due Diligence costs $7,000—10,000 for the main applicant.

Non-refundable donation to a national fund. Investors can get a second passport by contributing to the country’s economic development. The minimum donation sum depends on the number of applicants. For example, to obtain a Vanuatu passport, a single investor contributes from $130,000, and a married couple must invest at least $150,000.

Real estate purchase is one of the most popular options to get a passport by investment. Applicants buy commercial or residential property at or above a certain minimum value. They must also keep it for the required number of years. After that, investors can sell the property and return the investment.

Purchasing government bonds. This is a low-risk investment that does not require personal engagement in a business venture. The investor can sell the bonds 3—5 years later and return the money. The bond purchase option is offered by Saint Lucia and Turkey.

Business investments. Under this option, foreigners open a company in the country or invest in an existing business. Some countries offering citizenship by business investment require the applicant to create a certain number of job opportunities for locals. In Jordan, it is 10—20 jobs, while in Turkey it is at least 50 jobs.

Bank deposits in a national bank. Egypt and Turkey offer citizenship for opening a significant capital deposit in a local bank. The investor can withdraw the investment 3 years after obtaining a passport.

Real estate examples

Malta, Rabat

€575,000 — €5,750,000

Modern apartments in hotel complex

122 m² — 672 m²

2—4

2—3

Turkey, Istanbul

$472,000 — $1,476,000

Apartments with Istanbul view

68 m² — 344 m²

1

1

Antigua & Barbuda, Saint Philip

$200,000 — $2,850,000

Share, apartements, townhouse or villa in a resort on the coast of the island

56 m² — 619 m²

1

1

Malta offers investors a special naturalisation path for special services by direct investment.

Most of the investments are non-returnable as they are a contribution to the National Development and Social Fund. To get a passport in Malta, the minimum contribution amount must be €600,000 if the investor applies three years after getting a residence permit or €750,000 if they apply a year after becoming a Maltese resident.

An applicant must also:

• rent for five years or buy a residential property in Malta. The minimum rental price is €16,000 per annum, the purchase price — €700,000;

• make a charitable donation of €10,000.

If an investor chooses to purchase housing, they must own it for at least five years. After that, the investor can sell the property and return the invested money.

Malta is among the best countries for citizenship by investment for those who want to develop a business in Europe, establish contacts with European partners, and often attend business meetings. With Malta citizenship, you will not have to waste time on visa processing, and bank transfers will be faster due to the lack of foreign exchange controls.

Malta citizenship also allows the investor’s children to enrol in a European university, stay in the country, work after graduation, and find a prestigious job.

Individual cost calculation of the Maltese citizenship

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Turkey makes it possible to obtain citizenship by investment in 6—8 months. The investment options are the following:

• purchasing real estate for at least $400,000;

• investing in a business, bank deposit, government bonds, or units of an investment fund at least $500,000.

95% of applicants for Turkey citizenship by investment choose to buy properties.

Turkish citizens can freely visit 120+ countries and easily obtain Schengen and US visas. Besides, they are eligible for the E‑2 business visa, which allows the holder to do business and relocate to the USA.

Individual cost calculation of the Turkey citizenship

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Egypt citizenship is available to those investing:

• $250,000+ as a non-refundable contribution;

• $300,000+ in real estate;

• $350,000+ in a business;

• $500,000+ in a deposit in the Central Bank of Egypt.

A state fee is charged per application. The investment can be returned in 3 years when closing a deposit and 5 years when selling real estate.

Egyptian citizens can travel to 80+ countries visa-free and apply for an E‑2 business visa to the USA.

Individual cost calculation of the Egypt citizenship

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Jordan provides unique business opportunities due to a strong economy in regional markets and proximity to major markets like Asia and Africa.

The following options to get a passport by investment are available in Jordan:

• invest from $750,000 in projects outside the borders of Amman and create 10 job opportunities for Jordanians;

• invest $1 million or more in returnable treasury bonds for six years;

• purchase shares in Jordanian companies for at least $1.5 million.

Jordanian citizens travel visa-free to more than 80 countries, including Caribbean countries, Egypt, and Turkey. The investor’s partner can get a passport regardless of their marital status. Citizenship also applies to children and financially dependent parents.

Montenegro is still a candidate country for joining the European Union. The Montenegro citizenship program closed on January 1st, 2023.

Previously, acquiring a Montenegrin passport was attainable through an investment of at least €472,000. However, it’s important to note that as of today, possessing a Montenegrin passport does not grant the privilege of working within the EU or an uninterrupted stay exceeding 90 days.

A Montenegrin passport bestows the advantage of visa-free access to over 120 countries, including the Schengen Area, while necessitating visas for entry into the UK and Ireland. Additionally, Montenegrin citizens have the option to apply for an E‑2 business visa to the United States.

Caribbean programs. Obtaining a passport of one of the five Caribbean countries — Antigua and Barbuda, Dominica, Saint Lucia, Grenada, Saint Kitts, and Nevis — is easier than in European countries. The minimum threshold for investment in the local economy is $100,000—150,000. The term for obtaining citizenship by investment is only 3 to 6 months.

You can choose one of the investment options: a non-refundable contribution to the state fund or returnable investments in real estate, business, or securities.

To obtain a passport, there is no need to come to the country, except for Antigua and Barbuda, where you need to stay 5 days within 5 years.

Administrative expenses will be $5,000—50,000 for the main applicant, and Due Diligence expenses are $5,000—7,000 for each family member.

Individual cost calculation of the Caribbean passport

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Vanuatu is a state in Oceania that also has a citizenship investment program. A Vanuatu passport can be obtained through an investment of $130,000 or more in the country’s economy under the Vanuatu Development Support Program.

Vanuatu has the simplest and cheapest citizenship by investment conditions in the world. It is the fastest low-cost program: citizenship can be obtained in just a month. All documents can be collected remotely, and investors actively use this possibility.

Vanuatu has a favourable taxation system. Tax rates are the same for residents and non-residents. The country has no taxes on income, wealth, inheritance, capital gains, and export income from securities. International companies are exempt from paying taxes for 20 years, limited only to paying an annual fee of $300.

Individual cost calculation of the Vanuatu citizenship

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Caribbean passports allow you to stay in the Schengen Area for up to 90 days within six months and in the UK for up to 180 days during the year. They also make it possible to simplify the application for United States visas.

Moreover, citizens of Antigua and Barbuda, Saint Kitts and Nevis, Saint Lucia, Grenada, or Dominica can also optimise taxes, conduct international business, register property, and open accounts with international banks.

The Grenada program was ranked third among international programs qualified to obtain an E‑2 business visa for the United States.

The Saint Kitts and Nevis citizenship through investment program is the most famous: it has been offering services since 1984. It ranked fourth due to its popularity in the market.

The Antigua and Barbuda program got the last rank among the Caribbean investment citizenship countries due to one condition. Participants need to stay in the country for 5 days during the first 5 years of citizenship. This is not convenient for many investors.

The official language in the Caribbean and Vanuatu is English, which is a significant advantage for investors. If you would like to visit the country of your second citizenship, it will be easier to understand residents or discuss matters with officials.

Malta is the most popular among Immigrant Invest clients. It requires significant investment but opens up great opportunities. Investors with a passport of Malta can freely live, study and work in the country and conduct international business.

Vanuatu is ranked second due to the speed and ease of obtaining a passport, as well as low participation costs. Only this program showed an increase in income during the 2020 crisis, thus confirming its competitiveness.

Grenada leads the Caribbean citizenship by investment countries for offering the ability to live in the United States on an E‑2 visa. The Antigua and Barbuda program requires a visit to the country, and this condition predetermined its place in the ranking.

Turkey offers a wide choice of investment options, with real estate purchase as the most demanded one. To get a second passport by investment, applicants do not need to pass history and language exams, or live in Turkey.

Egypt citizenship by investment program is more affordable than other programs in Europe and the Middle East. It allows investors to travel freely to 65 countries. Like Turkey, Egypt offers several investment options and does not require applicants to pass exams or live in the country.