Citizenship by Investment: Best Programs in 2024

Citizenship by Investment (CBI) offers a fast-track route to obtaining second citizenship through significant financial contributions, such as investments in real estate, government bonds, or national development. This often allows individuals to gain citizenship without long-term residency.

Interest in obtaining additional citizenship has grown, especially during crises of uncertainty that make a second passport look increasingly valuable. Currently, at least 23 countries across various continents offer CBI programs, with about 11 providing citizenship or long-term visas in exchange for substantial one-time fees.

While some CBI programs grant direct citizenship, others require applicants to undergo a naturalization process before applying. Here is a complete citizenship by investment guide that will take you through everything you need to know about citizenship by investment in 2024, including: 

• What is citizenship by investment? 
• Countries that offer citizenship by investment 
• Requirements for citizenship by investment 
• Benefits of citizenship by investment 
• Different kinds of investment options
• Average processing times
• Average minimum investment
• A step-by-step guide to applying 
• Who applies for citizenship by investment?
• Unavailable CBI Programs

What is citizenship by investment?

Citizenship by investment is a process of acquiring citizenship in a country by making a financial investment, typically through real estate, government bonds, or contributions to a national development fund.

Over 100 countries in the world have some type of investment migration legislation.

Known in some countries as Golden Visa Programs,  CBI schemes were created to attract foreign investment and boost long-term economic growth.

By successfully applying for a citizenship program, global investors and their family members gain new citizenship with access to the benefits, privileges, and rights of being citizens in a second country.

Dual citizenship also has benefits, such as increased global mobility with visa-free access to more countries. Other advantages include giving foreign investors and nationals expanded business opportunities, better quality of life, asset protection, and access to healthcare and education, providing greater security and flexibility.

However, a key benefit of citizenship by investment is that it helps foreign nationals obtain citizenship status much faster than traditional immigration processes.

What are the benefits of investment citizenship?

Countries With Citizenship by Investment Programs in 2024

Here is a list of all the countries that offer citizenship by investment in 2024:

Antigua and Barbuda

The Antigua and Barbuda citizenship by investment program is one of the most popular among the Caribbean countries, offering a second passport and visa free travel for global investors.

Austria

Austria’s citizenship by investment program sets a high entry bar. Still, it offers investors the advantage of EU citizenship and a permanent tie with one of the world’s most politically stable and prosperous countries.

Cambodia

While Cambodia’s citizenship by investment isn’t prevalent among CBI countries, the program is accessible. The country’s low cost of living and the additional right to own land make gaining citizenship in Cambodia attractive.

 Dominica

The Caribbean island of Dominica’s citizenship by investment presents one of the most cost-effective and fastest pathways to obtaining second citizenship through investment.

Egypt

Providing Africa’s only CBI program, the Egyptian citizenship by investment program has a natural appeal. The country offers fantastic real estate investments with the bonus of receiving citizenship in return.

Grenada

While the Caribbean hosts multiple CBI programs, Grenada’s citizenship by investment program is not only attractive for its low investment requirements, but it is an appeal for several reasons, such as no hurricane risks and an option to obtain a US E2 Visa.

Jordan

In a region not known for readily granting citizenship to foreigners, Jordan’s citizenship by investment sets itself apart, allowing investors to earn citizenship in the historically significant country through investing in real estate and businesses.

Malta

Citizenship by Investment in the European Union is made possible through Malta’s citizenship by investment program, which provides third-country nationals with an EU passport.

North Macedonia

North Macedonia’s CBI program provides a gateway to a country with a strategic location and potential economic opportunities in the heart of the Balkans.

St Kitts and Nevis

With the longest-running CBI scheme and the most visa-free countries, St Kitts and Nevis citizenship by investment facilitates seamless traveling abroad for investors who qualify for its program.

St Lucia

St Lucia’s citizenship by investment program allows investors to live on a stable Eastern Caribbean island with low crime rates. The scheme also offers affordable investments for acquiring citizenship.

Turkey

The primary bridge between Europe and Asia provides several advantages on its own, and with five investment options, Turkey’s CBI program is inclusive and accommodates a diverse range of investor preferences.

Vanuatu

Getting dual citizenship in two months might appear improbable. However, this quick processing time is the reality for investors who apply for Vanuatu’s citizenship by investment scheme.

Nauru

Nauru has recently launched its Citizenship by Investment program under the Economic and Climate Resilience Citizenship Act 2024. This program is designed to attract international investors to support sustainable development and climate resilience initiatives.

Investment Options to Obtain a Second Citizenship

The investment options to get second citizenship differ from country to country, but common investment routes include:

Real estate investment

A qualifying real estate investment involves purchasing residential or commercial property in the destination country. This is an attractive option as it offers investors the opportunity to own a property while having financial returns. 

Most programs with real estate citizenship, except from Turkey and Egypt, require a direct investment in government-approved properties.

Non-refundable contribution

A non-refundable contribution is a one-time donation to a government-approved fund that supports the country’s development. This option allows you to aid economic growth while gaining citizenship directly. It’s often one of the most affordable ways to qualify for citizenship by investment programs.

Business investment

Business investments are a viable route to receive citizenship in several CBI countries. The criteria for qualifying business investments usually include:

• Meet the minimum investment threshold
• Invest in a new or existing business
• Create jobs for residents

Bank deposit

Bank deposits in national banks are another way to gain citizenship by investment. The deposit is refundable after a set period and doesn’t earn interest or profits. Due to their refundability, the minimum investment is often higher.

Government bond investment

Investing in government bonds functions similarly to a bank deposit, offering a comparable risk-free approach without exposing the investor to capital risk or necessitating direct involvement with businesses. Government bond investments benefit from government backing, guaranteeing the full return on investment, although without any accrued interest.

Requirements for Citizenship by Investment

The requirements for obtaining citizenship through investment typically include:

• Being over 18
• Holding a cleaning criminal record
• Being in good health with no infectious diseases
• Not being a citizen of or having close ties to a prohibited nation
• Applicants must make a foreign investment to qualify for Citizenship by Investment (CBI) programs. This can include buying real estate, depositing funds in local banks, purchasing government bonds, donating to national development funds, or creating jobs.
• Several countries waive the need to obtain a temporary residence permit for Citizenship by Investment (CBI) programs. However, some may still require investors to visit the country for certain days within the first few years after gaining citizenship.

Depending on the investment program and country, you may also be required to:

• Pay substantial government fees
• Hold the investment for five years or more
• Have a certain amount of savings
• Have an exemplary employment history
• Not have been denied entry to certain countries

Most countries offering citizenship by investment waive the need to obtain a temporary residence permit. However, some may still require investors to visit the country for certain days within the first few years after gaining citizenship.

Average Processing Times for Citizenship by Investment

Here is a general overview of the processing time for citizenship through investment.

Citizenship by Investment Cost

Generally, it ranges from around $130,000 to several million dollars. Here are some common categories:

Step-by-Step Guide to Applying for Citizenship by Investment

1. Research different CBI programs

Look into investment opportunities, minimum investment requirements, processing times, and other details relevant to your needs. The country should provide benefits that will fulfill your preferences, such as visa-free travel, economic stability, and safety for yourself and your family.

2. Choose the alternative citizenship and investment

Once the research has been done, the next step is to choose the program that best matches your preferences and investment capacity.

3. Hire with a reputable immigration lawyer

The next step is to choose an immigration lawyer or firm specializing in citizenship through investment. Immigration programs involve significant due diligence before individuals are granted citizenship. Global Citizen Solutions has a team of experts with first-hand experience in buying property and vast immigration knowledge.

4. Gather the required documents

The documents needed may include:

• Proof of identity
• Bank statements
• Financial records proving a legitimate source of funding
• Passport copies
• Criminal record certificates

However, a migration expert will advise you on any further documentation immigration officials may request.

5. Make the qualifying investment

Once your documents are in order, make the qualifying investment specified by the program. Ensure you retain all records to prove you have fulfilled the investment requirement.

6. Submit your citizenship application

Along with all the required documents and proof of investment from the relevant government authority. Pay the necessary application fees. 

7. Wait for due diligence checks to be completed

Once the application has been submitted, the applicant must wait for the due diligence checks to be completed. The processing time for approval varies depending on the country and the complexity of the application.

8. Retrieve the certificate of citizenship

Once the application is approved,  successful applicants will retrieve the citizenship certificate.

9. Apply for a second passport

After acquiring your citizenship certificate, you can apply for a second passport.

Unavailable CBI Programs

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

What are the five best CBI programs?

The best citizenship by investment programs are:

• Dominica: $100,000 (donation)
• St. Kitts and Nevis: $125,000 (donation)
• Antigua and Barbuda: $100,000 (donation)
• Malta: €600,000 (donation + investment)
• Turkey: $400,000 (real estate)
• Vanuatu: $130,000 (donation)

What citizenship by investment programs grant European citizenship?

The following countries offer European CBI: Austria, Moldova, and North Macedonia. Additionally, Malta offers expedited European citizenship through naturalization. Austria and Malta are the only countries granting EU citizenship.

What is the easiest country to get CBI?

Vanuatu is the easiest country to get Citizenship by Investment (CBI). You can acquire Vanuatu citizenship in approximately 60 days, and enjoy visa-free travel to 94 countries.

Which country is the most difficult to get citizenship?

Vatican City remains the most challenging state in which to get citizenship. Another most difficult citizenship example is Liechtenstein, which generally requires 30 years of residency to be naturalized.

Which country grants the fastest CBI?

Vanuatu is the fastest country to grant citizenship by investment. Successful individuals can obtain a Vanuatu passport in as little as 60 days by contributing $130,000 to the country’s national development fund. St. Kitts and Nevis grants second passports within 12 months.

Which is the best country to buy citizenship?

The 14 best citizenship by investment countries 2024 are:

• Antigua & Barbuda
• Austria
• Cambodia
• Dominica
• Egypt
• Grenada
• Jordan
• Malta
• North Macedonia
• St Kitts and Nevis
• St Lucia
• Turkey
• Vanuatu
• Nauru

What is the cheapest CBI program?

Dominica is the cheapest citizenship-by-investment program today, with a minimum contribution of $200,000.

Which countries give CBI if you buy a property?

Countries that will give you citizenship if you buy property:

• St Kitts and Nevis
• Antigua and Barbuda
• Dominica
• Grenada
• St Lucia
• Turkey
• Egypt
• Jordan

What is the best Caribbean passport country?

St Kitts and Nevis has the most powerful Caribbean passport, providing visa-free access to 153 countries worldwide. The St Kitts and Nevis passport ranks the highest of Caribbean CBI countries on the Global Passport Index. Antigua and Barbuda also have powerful passports that offer visa-free travel to 150 countries.

Is citizenship by investment guaranteed, or can my application be rejected?

Citizenship by investment is not guaranteed. Applications can be rejected if the applicant fails due diligence checks, provides incomplete documentation, or does not meet specific program criteria set by the host country.

Are there any tax implications for obtaining CBI?

Immigrant investor programs offering citizenship can have significant tax implications. These include double taxation if your home country and your new country of citizenship don’t have a double taxation agreement or the existence of taxes, such as capital gains and inheritance tax, that may not be imposed in your original tax jurisdiction. 

Is Montenegro citizenship by investment suspended?

Montenegro’s CBI program was closed at the end of 2022. Foreigners can obtain permanent residency through a real estate investment and apply for Montenegrin citizenship after ten years of residency. 

Can I get citizenship in Canada by investment?

Canada does not offer direct citizenship by investment. Instead, it provides pathways to permanent residency through programs like the Start-Up Visa, which requires investing in and operating an innovative business in Canada. After meeting residency and other requirements, permanent residents can apply for Canadian citizenship.

What is the use of citizenship by investment?

Citizenship by investment allows individuals to obtain citizenship in a country by making a significant financial contribution. Benefits include visa-free travel, business expansion opportunities, tax advantages, and access to better healthcare or education systems. Countries offering this program include St. Kitts and Nevis, Malta, and Cyprus.

Is CBI a good idea?

Citizenship by investment is a good idea for individuals seeking visa-free travel, tax advantages, or better quality of life. Benefits include faster residency and global mobility.

How much do you need to invest to get citizenship?

The required investment for citizenship varies depending on the program. It can range from hundreds of thousands to several million dollars. Each program has its investment thresholds, including real estate purchases, business investments, government bonds, or donations to national development funds.

Can you buy citizenship?

You can’t buy citizenship. But you can get a foreign passport through Citizenship by Investment programs. They require a significant financial contribution, such as investing in real estate or donating to a government fund. Countries like Malta, Turkey, and Dominica offer such opportunities.

How much does citizenship by investment cost in 2024?

In 2024, the average cost of citizenship by investment typically ranges from $200,000 to $2 million. Costs vary by country and program. Additional fees for legal and administrative services may also apply.