February 6, 2024
Reading Time: 10 min

Top 15 countries where you can obtain a passport by investment

There are many reasons to invest in a second citizenship, from personal safety and increased global mobility to tax optimisation for private and corporate. We selected 15 countries that offer the best conditions to get citizenship by investment.

Find out the fastest and the best citizenship by investment according to your goals.

Albert Ioffe
Albert Ioffe

Compared the most popular investment programs

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

Top 15 countries where you can obtain a passport by investment

What is citizenship 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.

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.

Citizenship by investment ranking

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.



Cost for one applicant

14 months or 3 years


1—2 months


4—6 months


6+ months


4+ months


3—6 months


3—6 months


6—8 months


6+ months


10. Jordan

3—6 months


8—10 months


12. Montenegro

Unavailable since 2023

4—6 months


13. Cyprus

Unavailable since 2020

6+ months


15. Moldova

Unavailable since 2020

3—4 months


14. Canada

Unavailable since 2019

3 years


Why do people invest in a second citizenship?

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.

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.

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 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 $7,00010,000 for the main applicant.

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 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.

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

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

Individual cost calculation of the Maltese citizenship

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

Individual cost calculation of the Turkey citizenship

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

Individual cost calculation of the Egypt citizenship

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.

Citizenship by investment in Europe and the Middle East


Investment options


Timeframe: 14— 36 months

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

€700,000 — purchasing housing in Malta,or €16,000 per year — renting housing

€10,000 一 a charitable donation


Timeframe: 6—8 months

$400,000 — purchasing real estate

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


Timeframe: 6+ months

$250,000 — a non-refundable contribution

$300,000 — purchasing real estate

$350,000 — business investments

$500,000 — a bank deposit


Timeframe: 3—6 months

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

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

$1,500,000 — purchasing a local company shares


Timeframe: 4—6 months

Unavailable since 2023

€200,000 — a non-refundable contribution and €250,000 or €450,000 — a share in government-approved projects

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

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

Individual cost calculation of the Caribbean passport

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

Individual cost calculation of the Vanuatu citizenship

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.

Comparison of citizenship by investment programs in the Caribbean and Vanuatu


Investment options


$100,000 — a non-refundable contribution;

$200,000 — real estate purchase;

$1,500,000 — business investments;

$150,000 — donation to the University of the West Indies Fund, for a family of 6.

3—6 months

$250,000 — a non-refundable contribution;

$400,000 — real estate purchase;

$250,000 — Public Good Investment.

6+ months

$100,000 — a non-refundable contribution;

$300,000 — government bonds purchase;

$200,000 — real estate purchase;

$3,500,000 — investing in a business.

4+ months

$150,000 — a non-refundable contribution;

$220,000 — real estate purchase.

4—6 months

$100,000 — a non-refundable contribution;

$200,000 — real estate purchase.

3—6 months

$130,000 — a non-refundable contribution.

1—2 months

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.

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 take a naturalisation path for special services by direct investment in Malta. It offers to apply for the country’s citizenship in 1 or 3 years after obtaining residency instead of the usual 5 years.

  • What is the cheapest citizenship to buy?

    No country offers to buy 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. All applicants and, sometimes, investment projects pass state Due Diligence.

    The lowest investment thresholds are under Caribbean CBI programs. A single investor can participate by contributing $100,000 to state funds in Antigua and Barbuda, Dominica, and St Lucia.

  • What are the countries you can buy citizenship in?

    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 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—2 months. The whole procedure can be done remotely.

  • What is an investor passport?

    A passport by investment is a program in some countries which offers foreigners 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 is the cheapest EU country to buy citizenship?

    Montenegro used to require the least sum to get a passport by investment. Since the Montenegro citizenship program has been closed since 2023, investors can obtain citizenship for exceptional services by direct investment in Malta. The investment amount starts from €690,000.

  • What is the hardest citizenship to get?

    The countries with the toughest naturalisation laws are China, Japan, Austria, Monaco, Switzerland, Finland, and the UAE. In some of these countries, foreigners must live for up to 30 years to get a passport as well as pass various exams.