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Top 10 countries where you can obtain a passport by investment

Some countries have Citizenship by Investment (CBI) programs that open doors to new opportunities in exchange for investment.

CBI programs are considered the fastest, safest, and easiest way to obtain a second passport. Its applicants receive the same rights as native citizens.

People pursue second citizenship for various reasons, such as greater global mobility, enhanced business opportunities, or securing a safe haven.

We selected 10 countries that offer the best conditions to get citizenship by investment.

Albert Ioffe

Author •Albert Ioffe

Compared the most popular investment programs

How to obtain citizenship by investment: countries where you can buy citizenship

Top 10 countries where you can obtain a passport by investment

What is citizenship by investment?

Citizenship in some countries can be obtained by investing in the local economy: buying real estate or securities, starting a business, or creating jobs.

If you decide to get a passport by investment, you do not need to speak the country’s language or reside there.

Obtaining second citizenship by investment in some countries is easier and faster than in others. For example, you can become a citizen of Grenada in just 8+ months if you invest $235,000+.

Vanuatu offers the fastest and most affordable citizenship by investment program. The minimum required sum is $130,000.

In comparison, foreigners can usually obtain citizenship by naturalisation in at least 5 years. Some countries require an even longer period, for example, 10 or even 30 years. It is also a must to reside in the chosen country permanently.

Citizenship by investment ranking

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.

Countries with citizenship by investment: comparison

Country

Timeline

Cost for one applicant

Year launched

1 or 3 years

€690,000+

2014

1—4 months

$130,000+

2017

8+ months

$235,000+

2013

6+ months

$250,000+

1984

6+ months

$240,000+

2015

6+ months

$200,000+

1993

6+ months

$230,000+

2013

8+ months

$400,000+

2017

10+ months

$250,000+

2020

10. Jordan

3+ months

$750,000+

2018

7 reasons why people invest in second citizenship

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.

Individual cost calculation for Maltese citizenship

Individual cost calculation for Maltese citizenship

Second citizenship vs dual citizenship: is there a difference?

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.

Passport for sale

In some countries, citizens must notify the government if they obtain a second passport. Failure to do so can result in fines or criminal charges

How to obtain citizenship by investment

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.

Are you a perfect fit for Caribbean citizenship?

Discover your eligibility with our simple quiz!

Citizenship by investment options

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.

4 best citizenship by investment paths in Europe and the Middle East

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

Schedule your online meeting today.

Igor Buglo
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.

Individual cost calculation for Turkish citizenship

Individual cost calculation for Turkish citizenship

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.

Citizenship by investment in Europe and the Middle East

Country

Investment options

Malta

Timeframe: 14— 36 months

€600,000 or €750,000 — a contribution to the National Development and Social Fund

€700,000 — purchase of housing in Malta, or rent for €16,000 per year

€10,000 一 a charitable donation

All the investment options are mandatory.

Turkey

Timeframe: 8+ months

$400,000 — purchase of real estate

$500,000 — investment in a business, bank deposit, government bonds, or units of an investment fund

Egypt

Timeframe: 6+ months

$250,000 — a non-refundable contribution

$300,000 — purchase of estate

$350,000 — business investments

$500,000 — a bank deposit

Jordan

Timeframe: 3—6 months

$750,000 — investment in projects outside the borders of Amman

$1,000,000 — investment in returnable treasury bonds

$1,500,000 — purchase of a local company shares

6 best and cheapest citizenship by investment programs in the Caribbean and Oceania

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:

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.

Individual cost calculation for Caribbean citizenship

Individual cost calculation for Caribbean citizenship

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.

Comparison of citizenship by investment programs in the Caribbean and Vanuatu

Country

Fund contribution

$230,000+ to the National Development Fund

$260,000+ to a higher education institution

Real estate purchase

$300,000+

Other options

$1,500,000+ — business investments

Timeframe

6+ months

Country

Fund contribution

$250,000+

Real estate purchase

$325,000+

Other options

$250,000+ — Public Benefit Option

Timeframe

6+ months

Country

Fund contribution

$240,000+

Real estate purchase

$300,000+

Other options

$300,000+ — government bonds

$1,000,000 — business investments

Timeframe

6+ months

Country

Fund contribution

$235,000+

Real estate purchase

$270,000+

Other options

None

Timeframe

8+ months

Country

Fund contribution

$200,000+

Real estate purchase

$200,000+

Other options

None

Timeframe

6+ months

Country

Fund contribution

$130,000+

Real estate purchase

Not available

Other options

$157,000 — CNO Future Fund units

Timeframe

1—4 months

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.

Individual cost calculation for Vanuatu citizenship

Individual cost calculation for Vanuatu citizenship

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.

Key takeaways

  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.

Immigrant Invest is a licensed agent for citizenship and residence by investment programs in the EU, the Caribbean, Asia, and the Middle East. Take advantage of our global 15-year expertise — schedule a meeting with our investment programs experts.

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Frequently asked questions

  • Which countries offer citizenship by investment?

    Ten countries have official citizenship by investment programs: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, Turkey, Egypt, Jordan, North Macedonia, and Vanuatu.

    Besides, investors can pursue a naturalisation path for special services by direct investment in Malta. This allows applicants to apply for citizenship after 1 or 3 years of residency instead of the usual 5 years.

  • What is the cheapest citizenship to buy?

    No country offers buying citizenship; therefore, there cannot be "the cheapest passport to buy". If you come across offers to "buy a passport", you probably deal with scammers.

    However, one can obtain a second passport by participating in an official government citizenship program. Such programs imply investing in specially designated state funds, real estate, or local businesses.

    The lowest investment threshold is under the Vanuatu CBI program, where a single investor can contribute $130,000 to the state fund to obtain citizenship.

  • What is the easiest passport to get through investment?

    Among countries offering citizenship by investment, Vanuatu has one of the easiest and fastest pathways to a second passport. Investors can obtain citizenship in 1—4 months.

  • What is an investor passport?

    A passport by investment is a program which offers foreigners the opportunity to obtain citizenship in exchange for investing a certain amount of money in the country’s economy. Investor passports are no different from regular ones and provide all rights on an equal basis with residents.

  • What are the countries where you can buy citizenship?

    No country offers citizenship for sale. If you encounter offers to "purchase a passport," it’s most likely a scam.

    However, certain countries do have official citizenship programs designed for investors. These programs involve making investments in specially designated state funds, real estate, or local businesses.

    Government citizenship programs operate in Turkey, Egypt, and Vanuatu. Besides, five Caribbean countries have CBI programs, namely, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia.

  • What is the cheapest EU country to buy citizenship?

    No EU country grants citizenship by investment. However, North Macedonia, located in Europe but not belonging to the EU, offers the cheapest citizenship, with investments starting at €200,000.

  • What is the hardest citizenship to get?

    China, Japan, Austria, Monaco, Switzerland, Finland, and the UAE have the toughest naturalisation laws. In some of these countries, foreigners must live there for up to 30 years and pass various exams to qualify for citizenship.

  • In what ways can applicants invest in citizenship programs?

    Each country offers its own investment options, depending on economic needs.

    Malta grants citizenship by naturalisation for exceptional services by direct investment. The applicant must meet three conditions: transfer money to the National Development Fund, make a charitable donation, and buy or rent property.

    The citizenship programs offered in the Caribbean offer different investment options. Investors can transfer money to the state fund, buy real estate, invest in a business, or purchase government bonds.

    Vanuatu passports by investment are issued to applicants who contribute to the National Development Fund or buy units of the CNO Future Fund.

  • Which is the fastest citizenship by investment program?

    The Vanuatu program offers the fastest pathway, granting citizenship in 1 to 4 months.

    The Caribbean programs take slightly longer to issue passports: at least 6 months.

    A Malta passport by investment is granted a year or three years after obtaining a residence permit.

  • Who can participate in the citizenship program with the investor?

    All citizenship programs allow investors to include their spouse and children under 18, with many allowing other dependents.

    Malta citizenship by direct investment is issued to the main applicant’s spouse, children under 29 years old, parents and grandparents over 55 years old.

    A Vanuatu passport can be obtained by the investor’s children under 25 and parents over 50.

    The Caribbean countries allow the whole family of the investor, including siblings and grandparents, to be added to the application. The main condition for family members is to be financially dependent on the investor.

  • Can an investor be denied citizenship by investment, and if so, why?

    Due Diligence is a mandatory step in all citizenship by investment programs. To pass it, the investor has to prove the legality of the sources of their income and provide a no criminal record certificate.

    The concerned country’s program department has the right to reject citizenship by investment application for the following reasons:

    • the investor was convicted in their country of origin for a crime, for example, in the financial sector;

    • the investor cannot prove the legality of the sources of their income;

    • the investor is included on sanctions lists;

    • the investor is associated with the activities of banned organisations;

    • the investor has been denied a visa, citizenship, or residence permit in the past.

    Immigrant Invest conducts its own preliminary Due Diligence check, which reduces the risk of rejection to 1%.