11 Best Citizenship by Investment Programs in 2024

Citizenship by Investment programs (CBI) are offered in specific countries. These programs allow individuals to obtain citizenship by making a significant financial investment in the country’s economy. This investment usually involves real estate purchases, contributions to government funds, or business investments.

These programs provide the benefits of visa-free travel and favorable tax regimes but also contribute to the economic development of the host countries. Whether it’s the sun-drenched islands of the Caribbean or the culturally rich landscapes of Europe, each program offers distinct advantages tailored to diverse investor preferences.

This guide will answer all questions about citizenship by investment programs, including:

• What is citizenship by investment?
• 11 best citizenship by investment programs in 2024.
• How does citizenship by investment address common challenges?
• Investment options for citizenship by investment

11 Best Citizenship by Investment Programs in 2024.

1. Austria

• Minimum investment: €3 million
• Time to citizenship: Citizenship is granted at the discretion of the government.
• Residency requirement: none

Austria’s citizenship by investment program has detailed and demanding eligibility criteria; however, it substantially benefits foreign nationals who successfully gain Austrian citizenship and EU passports. 

To participate in Austria’s citizenship by investment program, a minimum investment of €3 to 10 million in an Austrian business is required. Eligible companies must meet specific criteria, including creating jobs for Austrian citizens, growth potential, and a solid international reputation. 

Key benefits of the Austria citizenship by investment program: 

• European passport in an EU country 
• The Austrian passport ranks the highest of all countries with citizenship by investment schemes. 
• Visa-free travel and visa-on-arrival access to 174 countries worldwide 
• One of the world’s safest countries, ranking fifth overall in the Global Peace Index 

2. Antigua and Barbuda

• Minimum investment: $230,000
• Time to citizenship: Four to five months
• Residency requirement: Five days

For numerous reasons, Caribbean nations have been increasingly popular choices for acquiring citizenship by investment. Proximity to the United States and affordable investment options make Caribbean citizenship an obvious choice for American applicants of second citizenship initiatives. 

Antigua and Barbuda are two island nations that have led the way by offering the best Caribbean citizenship through investment. They are among those with the most affordable citizenship in CBI countries. Investors can acquire a second passport by contributing $230,000 to the Antigua and Barbuda National Development Fund (NDF). 

Key benefits of the Antigua and Barbuda citizenship by investment program: 

• A low starting investment amount of $230,000 
• The second highest ranking passport of CBI programs offering Caribbean passports 
• Visa-free travel privileges to 150 countries worldwide 
• Multiple investment options, including a donation to the University of the West Indies Fund 
• The most affordable citizenship program for a family of four, with a total investment of about $280,000, including passport fees 

3. Dominica

• Minimum investment: $200,000
• Time to citizenship:  Three months
• Residency requirement: None

Dominica, a Caribbean nation, often flies under the radar in discussions about the broader influence of Caribbean nations worldwide. However, it’s largely considered to offer one of the best Caribbean programs granting citizenship through foreign direct investment. The investment threshold starts at $200,000 through a contribution to the country’s Economic Diversification Fund (EDF). 

There is also the option of purchasing government-approved real estate for $200,000, which generally includes high-end tourist accommodation. 

Key benefits of the Dominica citizenship by investment program: 

• A $200,000 donation to the country’s Economic Diversification Fund means it offers the cheapest total investment, including government fees, for single CBI applicants. 
• The lowest qualifying investment in government-approved property of CBI countries, with a minimum investment amount of $200,000 
• The lowest cost per square meter for real estate of all five Caribbean CBI countries 
• There are no additional investment requirements to include up to six family members when investing in real estate. 
• No residency requirements or the need to visit the country or attend interviews to obtain a second passport 

4. Grenada

• Minimum investment: $235,000
• Time to citizenship: Nine months
• Residency requirement: None

Grenada has emerged as a strong option for obtaining a second passport in the Caribbean for numerous reasons. A progressive government has facilitated the ease of doing business in the country, and its political ties with the United States make it the ideal economic citizenship for both Americans and foreign nationals from other countries. Investors can contribute to economic development by donating $235,000 to the country’s National Transformation Fund (NTF).  

Another route to obtaining a Grenada passport is purchasing real estate in government-approved projects for $270,000 for shared ownership or $350,000 for sole ownership. 

Key benefits of the Grenada citizenship by investment program: 

• The only Caribbean country offering foreign investors the chance to settle in the USA through the US E2 Visa program 
• Include immediate family, a dependent parent or sibling from a single qualifying property investment 
• Situated outside the hurricane belt, the country has recorded just four hurricanes in its entire history, solidifying it as the least vulnerable to hurricanes of all Caribbean countries offering citizenship by investment programs. 
• Visa-free access to 147 countries, including China and Russia 

5. Jordan

• Minimum investment: $750,000
• Time to citizenship: three to six months
• Residency requirement: None

Jordan is the only Middle Eastern nation that offers citizenship through an investment program, making it a unique option for economic citizenship. This characteristic makes the country a magnet for international investors seeking a valuable second passport and the opportunity to tap into its strategic location while immersing themselves in a vibrant Islamic culture. The minimum investment is a real estate purchase of $750,000. 

Key benefits of the Jordan citizenship by investment program: 

• The only country in the Middle East offering citizenship by investment 
• Prime for lucrative investments through the country’s Economic Modernization Vision 
• A country with one of the lowest levels of domestic, international, and organized conflict 
• The cheapest real estate by square meter of all countries offering citizenship programs 

6. Malta

• Minimum investment: €600,000
• Time to citizenship:  12 to 36 months
• Residency requirement: None

Gaining citizenship by investment in EU countries has become increasingly appealing to foreign investors. While Austria does offer one of the best EU citizenship by investment schemes, the stringent eligibility criteria often place it beyond the reach of many foreign citizens. 

In contrast, other EU countries grant citizenship solely through naturalization or descent. The Malta Citizenship by Naturalization for Exceptional Services by Direct Investment program (CES) provides a path to citizenship in the EU in as little as 12 months from a non-refundable investment of €750,000, a real estate investment of €600,000 or a five-year lease agreement totaling €16,000 annually, and a charitable donation of €10,000. 

Key benefits of the Maltese citizenship by investment program: 

• The cheapest and fastest option to obtain European citizenship by naturalization 
• Ranked in the top 30 countries on the Global Passport Index, providing visa-free and visa-on-arrival access to 172 countries worldwide 
• The number one country promoting LGBTQ rights in 2023, according to ILGA-Europe 
• Freedom of movement throughout the European Union 

7. St Kitts and Nevis

• Minimum investment: $250,000
• Time to citizenship:  12 months
• Residency requirement: None

Since its introduction in 1984, the St Kitts and Nevis government’s economic citizenship program has been a continuous development and improvement model. The process for acquiring economic citizenship and a second passport is well-refined.

Several investment options are available, starting with contributing $250,000 to the country’s Sustainable Island State Contribution (SISC)—formerly the Sustainable Growth Fund. Investors can choose between joint real estate investments or purchasing a single-family home. 

Key benefits of the St Kitts and Nevis citizenship by investment program:  

• Ranked as the number one Caribbean country to acquire citizenship by investment in the 2023 CBI Index Report 
• There is a varied range of real estate to choose from, including commercial and residential real estate 
• The best Caribbean CBI country for investment, with the highest Investment Index ranking in the Global Passport Index 
• The strongest Caribbean passport obtainable through citizenship by investment, providing visa-free travel and visa-on-arrival access to 153 countries worldwide 

8. St Lucia

• Minimum investment: $240,000
• Time to citizenship:  10 to 12 months
• Residency requirement: None

St Lucia’s citizenship by investment program is highly regarded in the world of citizenship. With a small yet stable political environment and economy, the country provides a seamless application process for acquiring citizenship. The country offers numerous investment options, including real estate investment. 

St Lucia’s low minimum investment amount starts from donating $240,000 to the St Lucia National Economic Fund. 

Key benefits of the St Lucia citizenship by investment program: 

• A much lower average cost per square meter for property investment than other countries offering CBI schemes in the Caribbean, including St Kitts and Nevis, Antigua and Barbuda, and Grenada 
• Although there is no fast-track option, applicants can still benefit from one of the industry’s quickest processing times, with most applications completed within 10 to 12 months. 
• Diverse investment options, including cheap real estate investment and refundable government bonds 
• No additional investments or admin fees to include immediate family members and other dependents when investing in government bonds 

9. Turkey

• Minimum investment: $400,000
• Time to citizenship:  12 months
• Residency requirement: None

For those searching for the most cost-effective investment destinations, overlooking Turkey would be a missed opportunity. Not only is the country an excellent choice for investing in real estate, but its CBI program provides access to a highly skilled workforce at reasonable rates, making it an attractive destination for entrepreneurs looking to establish businesses. 

Moreover, starting a business is a viable route to Turkish citizenship, as well as real estate investment through a purchase worth at least $400,000. 

Key benefits of the Turkey citizenship by investment program: 

• There is no requirement to invest in government-approved real estate projects for the real estate investment option 
• One of two CBI countries providing a route to settle in the USA through the US E2 Visa Program 
• The lowest cost of living of all countries offering an investment citizenship program 
• Access to highly skilled and affordable labor, and strategically located between Europe and Asia 
• The only CBI country in the top 20 economies in the world by GDP 

10. Vanuatu

• Minimum investment: $130,000
• Time to citizenship:  60 days
• Residency requirement: None

Despite its geographical isolation, Vanuatu’s citizenship by investment scheme has gained significant interest from foreign nationals seeking second citizenship. The country’s minimal eligibility criteria and fast application process have led to increased capital investment from overseas and a growing number of applications for the Vanuatu CBI program. Investors have the sole option of donating $130,000 to the Vanuatu Development Support Program. 

Key benefits of the Vanuatu citizenship by investment program: 

• The fastest CBI program in the world, the country has a swift application process, with citizenship granted within 60 days 
• Zero personal income tax on local and worldwide earnings 
• Option to pay an annual fee between $300 and $1000, granting tax exemption from corporate taxes for 20 years 

11. North Macedonia

• Minimum investment: €200,000
• Time to citizenship:  six to 12 months
• Residency requirement: None

The North Macedonia citizenship program may not be the first thing that comes to mind when considering investing in citizenship. Still, it’s the best European passport program in terms of affordability.

The country provides the cheapest route to European citizenship. North Macedonia’s economic citizenship schemes start with a minimum investment of €200,000 in a private investment fund established in the country. While its CBI program grants citizenship in Europe, it doesn’t come with freedom of movement in the European Union as a non-EU member. 

Real Estate Investment Programs

Antigua and Barbuda

• Real estate investment: $300,00

Although the Antigua and Barbuda citizenship program doesn’t offer the most affordable and plentiful real estate options of Caribbean countries with citizenship initiatives, investing in real estate in the country is highly lucrative, benefitting from consistent international demand. 

Foreign nationals who choose real estate as an investment option for the citizenship program can expect guaranteed bookings and high rental returns. Furthermore, investors can relinquish their real estate investment after five years while maintaining their second passport. 

Grenada

• Real estate investment: $270,000 in shares
• $350,000 as a sole owner

Similar to Antigua and Barbuda, Grenada offers attractive real estate investment prospects. Potential CBI applicants can invest jointly in a commercial property or own a family home alone. 

The country has over 20 pre-approved real estate developments, providing a variety of choices to suit diverse preferences and investment objectives. This makes it an appealing destination for those with profitable property investment and second citizenship goals. 

 Dominica

• Real estate investment: $200,000

Dominica is the best citizenship program for real estate investment, especially for those who prioritize cost.

Regarding property investment among the two most affordable Caribbean CBI countries, Dominica and St Lucia, the average price per square meter in St Lucia stands at $165. 

In contrast, Dominica offers a significantly lower average cost of $80. 

Best Economic Citizenship Programs

Six Best Residency by Investment Programs

1.  Portugal

• Minimum investment: €250,000
• Time to citizenship:  Five years
• Residency requirement: Seven days a year for five years

Portugal’s Golden Visa program is a two-year residency by investment initiative that provides foreign nationals and their family members with a renewable residence permit in exchange for a minimum qualifying investment in its economy. 

While the Portugal Golden Visa doesn’t offer direct economic citizenship, it’s one of the most sought-after investor residence schemes in Europe, starting from a relatively low € 250,000 investment. Investors can renew their Golden Visa temporary permit, and after five years of legal residence in Portugal, they can apply to obtain permanent residency and citizenship by naturalization.

2. Greece

• Minimum investment: €250,000
• Time to citizenship:  Seven years
• Residency requirement: None

The Greece Golden Visa doesn’t offer a direct route to citizenship, but it can help investors who have spent 183 days each year for seven years become Greek citizens.

The minimum investment amount for high-demand regions is €800,000 and €400,000 for all other regions in Greece. Smaller investments of €250,000 are also available. Still, they only apply to commercial properties converted into residential ones and properties that hold cultural and historical significance and have been restored.

Investors keep renewable permanent residency status, provided they maintain their investment. After seven years of permanent residence, foreign nationals can apply for Greek citizenship by naturalization. 

3. Spain

• Minimum investment: €500,000
• Time to citizenship:  10 years
• Residency requirement: Ten days a year for two years

Spain’s Golden Visa is another coveted option for those seeking citizenship in the European Union. Like Portugal, there is no direct route to citizenship by contributing to the country’s economic development, but ten years of residence provides eligibility for citizenship by naturalization. 

The minimum investment required is €500,000, and investors can choose to invest in real estate or purchase government bonds. After five years, investors can apply for permanent residence permits, provided they maintain their investments and renew their visas. 

4. United States

• Minimum investment: $800,000 in a Targeted Employment Area (TEA) or $1,050,000 in other areas.
• Time to citizenship:  Five years
• Residency requirement: Six months in a year

The United States offers two investor visa programs for anyone seeking residence – the US-EB5 and E2 Visa. These two visa programs enable investors to receive legal residence status in the United States, provided they substantially contribute to the US economy. Both programs allow the main applicant’s immediate family to qualify for the same benefits they would reap, meaning they can all legally relocate to the United States.

EB5 and E2 benefits

There are many benefits to investing in US EB5 and E2 Visa programs. Two of these are the possibility of acquiring a Green Card permit with full work privileges in the USA and accruing stable returns on the initial investment.

The programs enable qualifying individuals to include their entire family in their applications, so investors can rest assured that their children can access the United States’ world-class Ivy League universities.

Also referred to as the Golden Visa USA, the EB5 Visa US Permanent Resident scheme provides a path to US citizenship for foreign investors seeking permanent migration. The main condition for eligibility for US citizenship is that the visa holder resides in the nation for at least five years. On the other hand, the E2 Visa US is exclusively aimed at investors looking to expand or bring their businesses into the nation.

EB5 and E2 investment options

Applicants to these programs have several investment options. They can either invest in a commercial enterprise, start a business, and create at least ten full-time jobs, or place a significant investment in a bona fide enterprise.

For the E2 Visa, the minimum qualifying investment generally starts at as little as $100,000. In contrast, the EB5 Visa begins with a higher minimum investment of at least $1.05 million [or $800,000 if investing in a Targeted Employment Area (TEA)].

5. Canada

• Minimum investment: No specific minimum investment, but you must secure support from a designated Canadian organization
• Time to citizenship:  Three years
• Residency requirement: Two out of five years

Canada is renowned for its high standard of living, excellent healthcare system, strong economy, and diverse cultural landscape.

Meanwhile, the Canadian government has earned a reputation for welcoming immigrants, enabling many to attain permanent resident status and obtain Canadian citizenship. These factors make the nation’s citizenship by investment opportunities popular among foreign entrepreneurs and high-net-worth individuals worldwide.

For clarification, the country doesn’t offer a straight route via a Citizenship by Investment program like the Caribbean countries do. However, it’s possible to achieve the same result by opting for a Canada Start-up Visa.

This is a residency by investment program created to attract innovative entrepreneurs to start businesses in Canada. The program does not have a minimum investment requirement, but applicants must secure support from a designated Canadian organization. You can apply for Canadian citizenship after three years as a lawful permanent resident.

6. United Arab Emirates

• Minimum investment: AED 2 million
• Time to citizenship:  No citizenship by residency is given in a few months
• Residency requirement: none

The United Arab Emirates offers the only Golden Visa in the Middle East, providing a unique opportunity for foreign investors and skilled professionals to obtain long-term residency. This exclusive program allows eligible individuals to secure residence for five to ten years by making qualifying investments in the UAE.

Regarding qualifying investments, the UAE government provides a unique set of eligibility criteria beyond direct investments for foreigners to qualify for their program. These include:

• Investing AED 2 million ($545,000) in real estate investment in designated zones
• Depositing AED 2 million into a bank account held with a UAE financial institution
• Operating an established business as a partner with a turnover of at least AED 100,000 (about $27,000)
• Receiving support from a UAE business incubator for an innovative business valued at least AED 500,000 (about $136,000)
• Being an outstanding specialized talent in specific fields, including sports, culture, healthcare, art, science, and engineering

Investment Options for Citizenship by Investment

The variety of immigrant investor programs that lead to citizenship is undeniable. Therefore, Global Citizen Solutions has a comprehensive citizenship by-investment comparison to help make the decision process easier.  

Through a dual citizenship by investment scheme, you can avoid traditional immigration processes, like citizenship by naturalization, and receive a second passport in as little as 60 days in exchange for investing a minimum sum of money in a country’s economy. The eligible investments differ from country to country, but standard investment options include:  

• Bank deposits in a national bank  
• Purchasing commercial or residential property 
• Establishing a new enterprise project or investing in existing businesses 
• Creating jobs for residents and citizens 
• Purchase of government bonds  
• A government donation or contribution to national development funds 

What is citizenship by investment?

Citizenship by investment, or economic citizenship, refers to a legal framework employed by numerous countries. It allows foreign nationals to obtain citizenship in exchange for their significant contributions to the nation’s development. 

CBI initiatives are strategic tools for attracting foreign investment and talent globally and helping sustain economic growth. By participating in a citizenship program, investors and their families acquire a new passport and access to citizens’ advantages, privileges, and rights in a second country. 

Having a second passport through CBI makes you a dual citizen, meaning you have legal status and the rights and privileges of two countries. The benefits of two citizenships come with visa-free access to countries worldwide, business opportunities, improved quality of life, asset protection, and access to essential social services like healthcare and education. 

How does citizenship by investment address common challenges?

Applying for a citizenship by investment (CBI) program is a solution to various challenges a range of individuals face. First and foremost, these investment schemes provide a straightforward and expedited route to obtaining a new citizenship. But what challenges are addressed after obtaining citizenship by investment? 

Lack of mobility

One of the most appealing aspects of CBI programs is the right to obtain a second passport, allowing holders to gain visa-free access to countries that may not be available for visa-free travel with their current passport. 

Additionally, international collaborations and agreements, such as the European Union in Europe and MERCOSUR in South America, contribute to enhanced mobility index for citizenships of countries within these regions. These cross-border pacts grant citizens privileged access and extended stays in member countries, furthering the allure of an economic citizenship program to obtain dual citizenship status. 

Limited investment options

A diverse investment route allows applicants to choose investments that suit their economic capabilities and goals. These options may include real estate, which provides investors a place of residence while qualifying for a second passport in citizenship by investment countries. Other options, like a capital contribution to a national development fund or government bonds, offer a cheap and straightforward route to economic citizenship. 

Slow second citizenship through naturalization

A streamlined and efficient application process is highly desirable as it allows applicants to acquire citizenship and passports in a reasonable timeframe. Investors can get second citizenship within two to six months after investing in a country’s economy, as opposed to naturalization, which takes several years to complete. Quick processing times are particularly valuable for those seeking immediate benefits.

Political instability

In recent years, the issue of political instability has become a significant concern for numerous individuals, and rising globalization has often led to a corresponding increase in political tension in various regions. A stable political environment and a reputable legal system are crucial factors when contemplating second citizenship through a CBI program.

Potential investors want to ensure that their social environment is secure and their newly obtained legal status remains resilient against sudden changes in government policies or instability.

Low investment returns

Preserving financial wealth is a top priority for every investor, and alongside dual citizenship, investment returns are equally crucial for applicants of CBI programs. Economic citizenship programs that offer reasonable returns on investments provide added financial incentives besides those gained after receiving second citizenship. 

Furthermore, exploring investment opportunities beyond the qualifying ones is an important consideration, and acquiring citizenship increases the ease of doing business abroad. 

Tax burdens

Citizenship by investment countries with attractive tax benefits, such as no or low-income tax, capital gains tax, or inheritance tax, is highly attractive to investors seeking to optimize their financial gains after securing investment citizenship.

Eligibility for family members

Family members of new citizens may need to fulfill some of the requirements of naturalization, which can include a minimum residency period. Including family members in an economic citizenship application next to the main applicant is a deciding factor for many foreign nationals. 

CBI programs that present the option to include families in the application, such as spouses, children, and sometimes parents or siblings, are more desirable for those seeking to secure a better future for their loved ones. 

Another consideration for family inclusion is the additional fees required to apply for family members, which often significantly raises the minimum investment amount in specific CBI programs. 

Subpar quality of life

Many individuals face a low quality of life in their home country due to a high cost of living, political instability, and underdeveloped infrastructure, among other factors. 

Beyond financial gains, the desirability of new citizenship enhances the quality of life. Assessing the quality of life factors based on the Global Passport Index will determine where economic citizenship countries rank in terms of education, healthcare, and overall standard of living. 

How can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.  

We guide you from start to finish, taking you beyond your citizenship or residency by investment application.  

Frequently Asked Questions about Citizenship by Investment Programs

Which citizenship is the fastest?

The fastest citizenship to get is Vanuatu citizenship. Investors of the Vanuatu citizenship program obtain second citizenship and Vanuatu passports with increased visa-free access within 60 days of submitting a citizenship application. St Kitts and Nevis grants citizenship within 12 months.

What is the cheapest citizenship by investment?

The cheapest citizenship program for a family of four is the Antigua and Barbuda citizenship by investment scheme. Investors can secure citizenship for themselves, their spouse, and two financially dependent children by contributing to the Antigua and Barbuda government fund, which totals to about $250,000 to $300,000, including all application fees. 

Which EU citizenship is easiest to buy?

While buying citizenship is not possible in any EU country, Malta offers a citizenship by naturalization program, allowing foreign nationals who contribute to its economy to receive citizenship by naturalization within 12 to 36 months, depending on their investment. 

Where is the hardest to get citizenship?

Determining the hardest citizenship to obtain depends on various factors, including the specific citizenship laws, eligibility criteria, and the individual’s personal circumstances. Some countries have stricter requirements and more challenging pathways to citizenship. For example, countries like Oman and Saudi Arabia are known for having stringent naturalization processes and rigorous criteria for granting citizenship. 

These countries have long residency requirements, demand language proficiency and cultural integration, conduct extensive background checks, and have complex bureaucratic procedures. 

Where is the best place to buy citizenship?

The best places to buy citizenship through investment are St. Kitts and Nevis, Antigua and Barbuda, Grenada, Portugal, and Malta. These countries offer streamlined Citizenship by Investment programs with varying investment options and benefits, including visa-free travel and no residency requirements.

What is the best citizenship by investment program in 2024?

In 2024, the best Citizenship by Investment (CBI) programs are often considered to be those offered by Malta and St. Kitts and Nevis. Malta’s program grants EU citizenship with extensive travel and lifestyle benefits, while St. Kitts offers a faster, affordable path to Caribbean citizenship with global mobility. Both are highly regarded for security and investment value.

Which Caribbean country offers the best citizenship by investment?

St. Kitts and Nevis is often considered the best Caribbean country for Citizenship by Investment, offering a straightforward and efficient process with benefits like visa-free access to over 150 countries. It also provides flexible investment options, including a government fund contribution or real estate investment, with processing times as short as 3-6 months.

Which countries offer the best citizenship by investment programs?

The best citizenship by investment programs are offered by:

• St. Kitts and Nevis
• Antigua and Barbuda
• Dominica
• Grenada
• Turkey
• Malta

These are considered the best citizenship by investment countries because of their relatively fast processing times, visa-free travel benefits, and investment flexibility.