Investing in the economy of another country is one of the easiest ways to acquire citizenship. Find out more about the best countries that offer expats favorable conditions for obtaining citizenship for investment in 2024

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Citizenship for investment programs have become popular all over the world. Obtaining a second passport opens up new opportunities for investors to develop their business, study and travel, while the country receives additional foreign investment to revitalize its economy. The concept of citizenship in exchange for investment originated in the 1980s and now such programs have become widely popular, even in Europe.

The number of investment programs is constantly growing, and investment conditions are constantly changing. Each country has its own rules for acquiring citizenship and provides personal benefits to new residents. Before investing, a foreigner should familiarize himself with the rules of different countries to choose the program that best suits his budget, family and business needs.

For example, some countries require investments in real estate, technological development, or bank deposits to become a citizen. Others may have programs that are aimed at supporting entrepreneurship or the country's infrastructure. The choice of program depends on the individual needs and capabilities of each investor.

Read on to find out which countries offer the best programs for acquiring citizenship through investment in 2024.

What are the peculiarities of obtaining citizenship by investment?

Citizenship by investment is an important and complex process that requires responsibility and careful planning. It is important to distinguish the concept of economic citizenship from simply buying a passport through investment.

Popular economic citizenship programs allow foreigners to become citizens through investment in the country. However, this is not a purchase of citizenship, but rather an investment agreement that has favorable consequences for the country's economy.

In order to obtain citizenship through investment, you need to meet the requirements of a government program, which often includes starting a business, supporting entrepreneurship, creating jobs, or investing in the development of various areas of the country's economy or culture. This may include investing in the local securities or real estate market, as well as supporting environmental programs or charitable foundations.

Economic citizenship programs help to accelerate the country's economic development through foreign investment and stimulate entrepreneurial activity. However, it is important to keep in mind that obtaining citizenship through investment is a serious step and requires a careful analysis of risks and benefits.

Obtaining citizenship through investment programs in different countries has its own differences and requirements. The process consists of several stages, which are practically the same for most programs, regardless of the specific country.

The first step is to choose a specific program. When comparing options, it is important to pay attention to several aspects: the possibility of visa-free entry to other countries after obtaining citizenship, program duration, tax advantages or liabilities, conditions for family members, the need to confirm sources of income, and others.

The second step is to choose a specific area for investment. It may include starting a business, investing in real estate, developing technology, or investing in other sectors of the economy.

The third stage is to collect the necessary package of documents for applying for citizenship.

The fourth stage is the approval of the application and the investment.

The fifth stage is the receipt of funds to the state account and the registration of citizenship, after which you can receive a passport.

It is important to remember that after obtaining foreign citizenship, it is necessary to notify the migration service to avoid possible misunderstandings and ensure legal stay in the country.

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Best Citizenship by Investment Programs in 2023

More and more people are now seeking dual citizenship. However, the methods of naturalization or long-term residence in the country are not suitable for everyone. Acquiring citizenship through investment programs will be a great alternative.

We have compiled for you a selection of countries that offer the most favorable conditions for obtaining citizenship for investment in the economy.

Antigua and Barbuda

Launched in 2013, the Antigua and Barbuda Citizenship Program provides investors with an opportunity to acquire citizenship by investing in various sectors of the economy.

1. The first investment option is the National Development Fund. This is a non-profit fund that finances various government projects and charitable initiatives. The investment for one applicant is $100,000.

2. The second option is investing in real estate. The minimum investment here is $200,000, and the applicant must hold the property for at least five years.

3. The third option is investing in business. To become an investor in a business, you need to invest at least $1,500,000 as an individual investor or $5,000,000 with a partner, and the business must be approved by the Cabinet of Ministers of Antigua and Barbuda.

4. The fourth option is to invest in the University of the West Indies Fund. This fund finances the fourth campus of the educational institution on the islands of Antigua and Barbuda. The minimum investment amount is $150,000.

Application processing usually takes about 180 days. The investor must also reside in the country for at least five days, although the restriction on the length of stay has been lifted due to the COVID-19 pandemic.

The investor must also pay fees for verification, information processing, and a registration certificate. There are no language requirements, mandatory interviews, or legal knowledge exams to obtain Antiguan citizenship.

Dominica

Dominica attracts investors with its unsurpassed nature, which ranges from waterfalls and volcanoes to beaches and rainforests. The country is also noted for its affordable cost of living, free medical care and rapid economic development.

The minimum amount of investment in the country's economy is $100,000, and investors have two main options:

1. The Economic Diversification Fund: these funds are used for socio-economic initiatives. The minimum investment amount is $100,000;

2. Real estate investment: the candidate must purchase state-approved real estate worth at least $200,000 and hold it for at least three years.

The Dominica Citizenship by Investment Program does not impose any restrictions on travel, residence or language skills. It also does not require interviews or assessments. The only condition is that the applicant must have no criminal record and be over 18 years old.

For four years in a row, the CBI program in Dominica has been recognized as the best CBI program by PWM Financial Times magazine. This demonstrates the reliability and attractiveness of the program for investors who appreciate the country's natural resources and the benefits of its economic environment.

Grenada

Grenada, a small island nation in the Caribbean Sea, attracts tourists with its beautiful beaches, lively coastal cities and historical landmarks such as Fort George and Fort Frederick. In addition to tourism, the country offers the opportunity to obtain citizenship through investment.

To obtain Grenadian citizenship through the investment program, you need to make a minimum contribution of $150,000 to the National Transformation Fund. This fund is used to develop Grenada's economy. The application process usually takes about 90 days from application to approval.

There are two main options for investors to invest for citizenship:

1. National Transformation Fund: the minimum investment amount is $150,000. The money invested in this fund is used to transform the country's economy;

2. Purchase of approved real estate: another option involves the purchase of real estate worth at least $350,000. After obtaining citizenship, you must own this property for at least five years.

The Grenada Citizenship by Investment Program does not impose any requirements for residency, language proficiency or other additional conditions. 

Saint Kitts and Nevis

St. Kitts and Nevis, an attractive island nation in the Caribbean, is famous for its pristine beaches, volcanoes and tropical forests. In total, the country's population is over 52,000 people, and its economy is supported by tourism, export-oriented manufacturing, and offshore banking.

To become a citizen of Saint Kitts and Nevis by investment, you must make a minimum contribution of $150,000 to the Sustainable Development Fund (SGF). The process of obtaining citizenship usually takes approximately 90 days, but it can be accelerated to 60 days for an additional fee. It is worth noting that there are no additional mandatory requirements, which makes this program even more attractive to investors.

There are several investment options for citizenship:

1. Sustainable Development Fund: the minimum investment amount is $150,000, and these funds are used to support sustainable growth initiatives in the country;

2. Real estate investment: investing in state-approved real estate, with a minimum investment of at least $200,000, requires holding the property for 7 years;

3. Private homes: minimum amount of $400,000;

4. Public benefit investments: minimum investment of $175,000.

Saint Lucia

Saint Lucia is located in the Eastern Caribbean and is famous for the Python Mountains, cocoa plantations, historic forts and pristine white beaches. The country is known for its stable economy and democratic system. One of the features of the citizenship program is that there are no requirements for language proficiency or residence in the country.

The minimum investment amount for obtaining Saint Lucian citizenship is $100,000, and there are four investment options:

1. National Economic Fund (NEF): the fund is designed to attract appropriate investments to finance development projects on the island;

2. Real estate investment: to obtain citizenship, you need to purchase state-approved real estate worth at least $200,000;

3. Enterprise project: the minimum investment amount is $3,500,000 in a pre-approved enterprise project that must create at least three permanent jobs;

4. Government bonds: the minimum investment amount is $300,000.

Malta

The Maltese citizenship by naturalization for exceptional services program offers investors and their families the opportunity to obtain Maltese citizenship, taking into account its economic development and stability.

The minimum amount of investment required to participate in the program is determined depending on the duration of the applicant's stay in Malta. In particular:

1. If an applicant resides in Malta for 36 months or more, he/she must make an exceptional direct investment of €590,000;

2. If the applicant resides in Malta for 12 months, the amount of exceptional direct investment is EUR 740,000.

Additionally, the investor can choose one of the following investment options for obtaining Maltese citizenship:

1. Real estate investment of at least 700,000 euros;

2. Renting a house in Malta with an annual rent of at least EUR 16,000;

3. Donation to a registered charitable organization in the amount of EUR 10,000.

An important feature of this program is the limitation on the number of successful applicants per year (maximum 400 persons) and the total number of citizenships granted (1500 persons), after which the program is terminated. This program is very popular among investors from all over the world, as it provides an opportunity to obtain an EU passport and take advantage of all possible benefits.

Turkey

Turkish citizenship takes from three to six months to obtain and does not require residence in the country during the procedure. However, you will have to visit Turkey in person to provide biometric data.

The minimum investment amount is $400,000. There are several investment options:

1. Real estate: Investors must purchase real estate that has a value of at least $400,000, recognized by the Ministry of Environment and Urbanization. The sale of real estate is possible only after 3 years of ownership;

2. Deposit in a Turkish bank: the minimum investment amount is $500,000. The deposit must be kept for at least three years;

3. Government bonds: investors can purchase government bonds of at least $500,000 recognized by the Ministry of Treasury and Finance. The bonds must be held for three years or more;

4. Fixed assets: investing $500,000 in fixed assets recognized by the Ministry of Industry and Technology;

5. Job Creation: Candidates can obtain Turkish citizenship by creating 50 jobs in Turkey, which must be recognized by the Ministry of Family, Labor and Social Security.

Global demand and interest in citizenship programs remains high. Therefore, countries are simplifying the rules and optimizing the processing time of applications through the digitalization of the procedure. Choose a program and you may soon be able to get a second passport.

Daria Rogova, Head of Insurance at Visit World

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