Economic citizenship is a way to gain citizenship by making a financial investment in a country’s economy, such as through real estate or business ventures. This helps countries boost their economies by attracting foreign investment.
With a second passport, individuals can enjoy benefits like better travel access, improved tax systems, and the chance to live in another country. It also provides a safety net for investors and their families, offering protection from political or economic instability.
This article will cover everything you need to know about economic citizenship, including the eligibility requirements, the application process, and the countries that offer these programs.
What is economic citizenship?
Economic citizenship is a legal pathway for individuals to obtain citizenship in a country by making a significant economic investment or financial contribution. Often part of programs known as citizenship by investment (CBI), these programs are designed to attract foreign capital to help grow a country’s economy. They also allow investors to include their families.
Key benefits include obtaining a second passport, which often provides visa-free access to more countries. Investors also enjoy better business opportunities, improved quality of life, economic stability, and access to services like healthcare and education.
However, these programs vary by country regarding benefits, eligibility requirements, investment amounts, and the due diligence process applicants must complete.
The Benefits of Economic Citizenship Programs
There are numerous reasons why investors are rushing to invest in second passports. Dual citizenship offers limitless possibilities to enhance one’s quality of life.
Enhanced global travel
Second passports from economic citizenship programs offer more visa-free travel and easier access to many countries.
Business opportunities
Second citizenship makes it easier to do business abroad, removing barriers and opening new investment opportunities.
Second home abroad
Real estate is a popular option for economic citizenship. It offers a second home for vacations or retirement. It can also generate income through rentals or sales and serve as a lasting asset for future generations.
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taxes
Citizenship by investment programs also offer tax planning benefits, like zero income taxes or low corporate tax rates, in exchange for an annual fee.
Political
stability
Second citizenship provides financial security and stability, combining the benefits of your home country and a second country. This is especially helpful during times of political or economic uncertainty.
Family
wellbeing
Economic citizenship programs extend to immediate family and, in some cases, parents, grandparents, and siblings, granting them the same benefits. It also allows the main applicant to pass citizenship on to future generations.
Access to better healthcare
Some countries offering economic citizenship provide better healthcare systems, ensuring access to high-quality medical services for you and your family.
Quality of life
Economic citizenship often leads to a higher quality of life, with access to better public services, safer environments, and overall improved living standards.
Investment Options for Economic Citizenship
Citizenship by investment programs let foreigners gain second citizenship by contributing to a country’s economy. These programs offer various investment options based on the country’s needs and goals. The choices are designed to attract investors while matching their preferences. Here are some common options:
Real estate investment
Many economic investment programs allow applicants to invest in real estate, including residential or commercial properties. The investment may be limited to approved properties or lease agreements, with requirements differing by program.
Donation to national development
Some investment programs focus on development projects like renewable energy or cultural restoration. The availability, minimum investment amounts, and terms depend on the program.
Government bonds or securities
In certain programs, applicants can invest in government-approved bonds or securities. These government bonds are usually held for five years, after which the funds may be returned to the investor, with the interest accrued deducted from the total.
Job creation or business investment
A few citizenship-by-investment programs encourage applicants to create jobs or invest in local businesses. This option is often associated with the requirement that citizens generate a minimum number of permanent employment positions in the country.
Bank deposit
Depositing a substantial amount of money in an approved bank or financial institution for a specific duration is a common option many countries with economic citizenship programs provide.
Development projects
Some investment programs focus on development projects like renewable energy or cultural restoration. The availability, minimum investment amounts, and terms vary by program.
To find out more about getting a second passport
Eligibility Criteria for Economic Citizenship
While each country with a citizenship by investment program will have its own set of eligibility criteria, there are some
common requirements that each country implements, which include:
- Making the required investment in one of the available investment options
- Holding a clean criminal record
- Providing documentary evidence to prove the legal source of their investment funds.
- Being in good health
- Not being from or having close ties to a prohibited country.
Other prerequisites
Depending on the country and its economic citizenship program, you may also be required to:
- Pay substantial government fees, including additional fees for family members
- Hold the investment for at least five years
- Have a certain amount of savings
- Have an exemplary employment history
- Not have been denied entry to certain countries
Most investment programs are simple and don’t require common naturalization criteria like residency, language proficiency, or knowledge of the country. However, all countries with economic citizenship have strict checks to verify candidates before granting citizenship.
Countries With Economic Citizenship Programs
The cost of economic citizenship varies significantly depending on the country, the type of investment, and the number of applicants (e.g., single applicant or family). Here is how much citizenship by investment costs in other countries and how long it takes to get a passport.
Country | Program Highlights |
 Antigua and Barbuda | From $230,000 non-refundable contribution
|
 Austria | From €2 million
|
 Cambodia | From $245,000 non-refundable contribution
|
 Dominica | From $200,000 non-refundable contribution
|
 Egypt | From $250,000 non-refundable contribution
|
 Grenada | From $235,000 non-refundable contribution
|
 Jordan | From $750,000
|
 Malta | From €690,000
|
 Nauru | From €105,000 non-refundable contribution
|
 North Macedonia | From €200,000 non-refundable contribution
|
 St Kitts & Nevis | From $250,000 non-refundable contribution
|
 St Lucia | From $240,000 non-refundable contribution
|
 Turkey | From $400,000
|
 Vanuatu | From $130,000 non-refundable contribution
|
There is also the Citizenship By Investment Comparison guide, which provides a more detailed breakdown of different programs across the world.
Step-by-Step Guide to Apply for Economic Citizenship
1. Research different citizenship by investment schemes to find the one that suits your preferences and intentions. Look into investment opportunities, investment requirements, processing times, and other details relevant to your needs. |
2. Choose the economic citizenship program that best matches your preferences and investment capacity. |
3. Engage with a reputable licensed agent or advisor specializing in acquiring economic citizenship. They will guide you through the process, ensure your eligibility, and assist with presenting the required documentation. |
4. Gather all the required documents, including proof of identity, bank statements, passport copies, criminal record certificates, and other documentation immigration officials request. |
5. Once your documents are in order, make the qualifying investment as specified by the program. This could involve real estate purchases, contributions to government funds, business investments, or other approved options. |
6. Submit your citizenship application along with all the required documents and proof of investment to the relevant government authority. Pay the necessary application fees. |
7. Wait for due diligence checks to be completed. The processing time for approval varies depending on the country and the complexity of your application. |
8. Once your application is approved, retrieve your certificate of citizenship. |
9. After acquiring your citizenship certificate, you can apply for a second passport. |
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. How Can Global Citizen Solutions Help You?
Frequently Asked Questions about Economic Citizenship
What is the definition of economic citizenship?
Economic citizenship, often called citizenship by investment, is a legal process allowing individuals to acquire citizenship status in a foreign country by making specified financial contributions or investments in that country’s economy. In return, they gain global citizenship with the rights and privileges of second citizenship, including the ability to live, work, and travel freely within a second country and a second passport.
Is citizenship by investment the same thing as economic citizenship?
Economic citizenship and citizenship by investment are interchangeable terms. Other accepted terms for economic citizenship are second passport by investment and investment migration.
What countries offer second citizenship?
Countries offering second citizenship by investment include
- Austria
- Antigua and Barbuda
- Dominica
- Grenada
- St. Kitts and Nevis
- St. Lucia
- Turkey
- Vanuatu
- Malta
- Nauru
Where is the cheapest place to buy citizenship?
Dominica, St. Lucia, Antigua, and Barbuda are the cheapest places to acquire economic citizenship. The investment requirements in these countries start from a $200,000-$250,000 contribution to the national development fund.
How much does economic citizenship cost?
The cost of acquiring economic citizenship, also known as citizenship by investment, varies widely depending on the country and the specific requirements of their program. Each country sets its own criteria, including the minimum investment amount, government fees, and other associated costs.
What is the economic citizenship status of the United States?
The United States does not offer economic citizenship or Citizenship by Investment (CBI). However, it has programs like the EB-5 Immigrant Investor Program, which grants permanent residency (Green Card) to foreign investors who contribute a specified amount to the U.S. economy, typically through job-creating projects. Citizenship can be obtained after five years of permanent residency.
What is the fastest and cheapest citizenship?
In terms of the country providing the fastest and cheapest economic citizenship program, this would be Vanuatu. Vanuatu’s economic citizenship program starts at $130,000, and investors receive citizenship and second passports within 60 days.
How can economic citizenship enhance international business opportunities?
Economic citizenship can enhance international business opportunities by providing access to new markets, global mobility, and favorable tax regimes. It allows entrepreneurs to expand operations across borders with fewer restrictions, facilitates easier travel for business meetings, and provides access to international investment networks and resources. This can increase opportunities for growth and partnerships.
