Top 10 countries where you can obtain a passport by investment

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

Note that Malta citizenship is not granted under an investment program. Investors follow a naturalisation path, obtaining residence permits first. They can apply for citizenship after 1 or 3 years and passing a strict Eligibility Assessment.

1. Fast and easy process. Many countries offer citizenship-by-investment programs that are relatively quick and straightforward. For example, a Vanuatu passport can be acquired in just one month, and a Caribbean one in half a year, without the need for residency in the country.

2. Freedom of movement. A second citizenship often grants visa-free or visa-on-arrival access to a wide range of countries. For example, with Caribbean second citizenship, investors can visit 140+ countries, including the Schengen Area. This allows individuals to travel more freely, avoiding the hassle of visa applications.

3. Citizenship for the whole family. Most programs allow investors to include family members, such as spouses, children, and sometimes even parents or grandparents. This ensures the entire family can enjoy the advantages of dual citizenship

4. Ability to register a company and do business abroad. Second citizenship opens doors to global markets. Caribbean citizenship, for example, allows entrepreneurs to do business within the Caribbean Community (CARICOM). A Maltese passport grants access to the EU single market.

With a second passport, individuals can optimise taxes. Vanuatu citizens, for instance, establishing an international business company, do not pay taxes on corporate profits, personal income, capital gains, inheritance, or donations. Instead, they pay a flat annual fee of $300.

A second passport also eases international transitions and provides more security. Maltese citizens, for example, can easily open accounts in European banks.

5. Access to healthcare and education. Individuals with second citizenship can choose where they receive healthcare and education. Maltese citizens, for instance, can get medical treatment in any EU country under the same conditions as locals, offering better healthcare options.

6. Expanded career opportunities. Dual citizenship expands professional horizons by allowing individuals to work in both countries. This is especially valuable in regions with strong economies or in industries that offer superior career growth opportunities.

7. Relocation and creation of a safe haven abroad. During times of political or economic instability, second citizenship offers the security of having a safe haven. It provides the option to relocate swiftly if necessary, safeguarding both the investor’s and their family’s well-being.

Second citizenship and dual citizenship are related but not the same.

Dual citizenship means both countries officially recognise an individual as a full citizen, granting them the rights and responsibilities of citizenship in both countries simultaneously.

Second citizenship refers to holding a passport from two countries. However, depending on their legal frameworks, one or both countries may not fully recognise the individual’s citizenship status in the other country.

To understand the differences, consider an individual who holds second citizenship in two countries, each requiring mandatory military service.

If both countries do not fully recognise dual citizenship, the person may technically be required to serve in both militaries. On the other hand, in the case of dual citizenship, certain agreements or exemptions may exist, allowing the person to fulfil their obligation in just one of the countries.

Additionally, some countries permit their citizens to hold multiple passports, while others do not. For example, acquiring Spanish citizenship generally requires renouncing your previous citizenship. In contrast, many Caribbean states allow individuals to hold multiple passports without such restrictions.

All countries have different conditions for issuing second citizenship by investment. The amounts and types of investments, requirements for applicants, registration costs, processing time, and steps for obtaining citizenship vary.

Investments can be refundable or non-refundable. For instance, contributions to a state fund are non-refundable, while purchasing real estate, securities, or businesses allows the investor to sell assets about 5 years after obtaining residency or citizenship.

In some countries, like Malta, multiple mandatory investments are required.

When considering countries for second citizenship, it is essential to think of the amount of state fees, lawyers’ services, and the cost of translating and legalising documents. If you buy real estate, you must pay taxes and cover legal services.

Requirements for investors are different in each country, but the most important ones are:

• to be over 18;

• to prove the legality of income and investment money;

• to have a clean criminal record;

• to demonstrate sufficient income or savings to support their family.

Investors can apply for citizenship for their entire family, including a spouse, children, and parents. Every country has its own list of allowed relatives. Extra fees apply for additional applicants.

Due Diligence procedure is an important stage in any investment program. Local authorities, often with the help of international criminal police, verify that the money for the investment was earned legally. This process is a paid service, costing the main applicant an average of $5,000—10,000.

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

Real estate purchase is one of the most popular options for obtaining a passport by investment, and most countries offer it. Applicants buy commercial or residential real estate at or above a specified minimum value. They must retain the property for the required number of years, after which they can sell it and recoup their investment.

Purchasing government bonds. This low-risk option does not require personal involvement in a business. Investors can sell the bonds after 3—5 years and recover their funds. Saint Lucia and Turkey both offer this option.

Business investments. In this option, investors either start a company or invest in an existing business. Some countries require the creation of a certain number of jobs for locals. For instance, 10 jobs are required in Jordan, while in Turkey, at least 50 jobs must be created.

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 their funds 3 years after obtaining a passport.

Malta does not grant citizenship by investment but offers a naturalisation path for special services by direct investment.

Investment requirements include:

• a contribution to the National Development and Social Fund. The minimum investment is €600,000 if the investor applies for citizenship 3 years after obtaining a residence permit or €750,000 if applying after 1 year;

• renting a property or buying a residential property for 5 years. The minimum rental cost is €16,000 per year, while the minimum purchase price is €700,000;

• a charitable donation of €10,000.

The applicant cannot choose one investment requirement; they are all mandatory.

Malta citizenship allows visa-free entry to 169 countries, including the EU, the UK, and the United States.

Malta is also among the best countries 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.

Children of investors with Maltese citizenship can enrol in a European university, stay in the country after graduation, work, and find a prestigious job.

Discover your path to Maltese citizenship

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Igor Buglo

Head of the Maltese office, MBA

Igor Buglo

Head of the Maltese office, MBA

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 of $10,000 is charged per application. The investment can be returned in 3 years for a bank 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.

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

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

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

95% of applicants choose to buy real estate, which can be rented out.

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

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Jordan offers unique business opportunities due to its strong economy and proximity to major markets in Asia and Africa. Investors can choose from the following options:

• invest at least $750,000 in projects outside Amman and create 10 job opportunities for Jordanians;

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

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

Jordanian citizens travel visa-free to over 80 countries, including Caribbean nations, Egypt, and Turkey. The investor’s partner, children, and financially dependent parents can also obtain citizenship.

Caribbean programs. Obtaining a passport in one of the five Caribbean states is easier than in European countries. 2nd passport by investment programs exist in the following Caribbean states:

• Antigua and Barbuda,

• Dominica,

• Grenada,

• Saint Kitts and Nevis,

• Saint Lucia.

The minimum investment in the local economy ranges from $200,000 to $250,000. 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.

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

The timeframe for obtaining citizenship by investment is typically 6+ months. There is no need to visit the country to obtain a passport, except for Antigua and Barbuda, where a 5-day stay within 5 years is required.

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 the Caribbean countries can also optimise taxes, conduct international business, register property, and open accounts with international banks.

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Vanuatu, a state in Oceania, offers one of the simplest and most affordable citizenship by investment programs. A Vanuatu passport can be obtained through:

• a non-refundable investment of $130,000 or more in the state fund;

• supporting coconut oil production by purchasing units of the CNO Future Fund for at least $157,000. This investment is refundable, offering an estimated 5% annual return, potentially bringing back $50,000 over 5 years.

Vanuatu’s program is the fastest and most affordable globally, with citizenship obtainable in 1—4 months. Most of the process can be completed remotely, but applicants must travel to Vanuatu to submit documents and biometrics.

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.

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

Vanuatu ranks 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.

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Grenada is attractive because it offers access to the E‑2 Visa in the United States, allowing investors to live and do business there.

Turkey offers many investment options, with real estate being the most popular. To obtain a second passport, applicants must not pass history or language exams or reside in Turkey.

Egypt citizenship by investment program is more affordable than those in Europe and other Middle Eastern countries. It allows investors to travel freely to 80+ countries. Like Turkey, Egypt offers several investment options and does not require applicants to pass exams or live in the country.

1. Citizenship by investment programs (CBI) allows foreigners to obtain passports of some countries in exchange for investment.

2. Dual citizenship enhances global mobility, helps to optimise taxes, enables company registration abroad, and provides a safe haven.

3. The most popular investment options are contributions to state funds or real estate purchases.

4. In Europe and the Middle East, citizenship by investment is available in North Macedonia, Jordan, Turkey, and Egypt. Malta offers citizenship by naturalisation for exceptional services.

5. Antigua and Barbuda, Dominica, Grenada, St Lucia, and St Kitts and Nevis offer the best CBIs in the Caribbean. Vanuatu in Oceania also has a citizenship by investment program.