Getting a second passport by investment means obtaining it through a Citizenship by Investment (CBI) program, where individuals can acquire citizenship in a country by making a financial investment. This usually involves contributing to government funds, investing in real estate, or supporting local businesses. In exchange for this investment, applicants receive citizenship, which includes a second passport, offering benefits like visa-free travel, tax advantages, and access to new business or personal opportunities.
In this guide, we’ll explore the benefits of a second passport, how to get an additional passport through investment, and the best countries to add to your citizenship. Here is what to expect:
What is a second passport by investment?
A second passport by investment allows individuals to acquire citizenship in another country through significant financial contributions, such as real estate purchases, government bonds, business investments, or donating to a national development fund.
Countries offering such programs aim to attract foreign capital and boost their economies. In return, they provide investors and their families with citizenship, which includes a passport.
This second passport grants the holder various benefits, such as the right to live, work, and study in the issuing country, visa-free or visa-on-arrival access to numerous countries, and potential tax advantages.
The process generally involves thorough background checks, financial scrutiny, and, in some cases, a residency requirement. Popular destinations for these passport-by-investment programs include Caribbean nations like St. Kitts and Nevis and Antigua and Barbuda, as well as European countries such as Portugal, Malta, and Cyprus.
These programs are particularly attractive to individuals seeking greater global mobility, economic opportunities, or a secure place to reside. They provide a legal and relatively quick pathway to citizenship, bypassing the longer traditional naturalization processes.
12 Best Countries for a Second Passport by Investment
The best passport to get is one that offers the most benefits, like dual or multiple citizenship. Caribbean passports like those from Vanuatu or Grenada, or a European Union passport like Malta’s, are popular options. Both give second citizenship, but one might have a better investment deal or offer a stronger passport than the other.
Here are 12 countries to consider when planning to get a second passport by investment:
1. Austria
Austria offers a unique and highly selective Austria citizenship by investment program, benefiting those who successfully attain European citizenship.
The investment program in Austria requires a substantial investment of €2 to 10 million in an Austrian business. This foreign direct investment must be directed towards companies that meet specific criteria, such as creating jobs for Austrian citizens, demonstrating growth potential, and maintaining a solid international reputation.
One of the most attractive aspects of this program is the opportunity to obtain a European passport from an EU country. The Austrian passport is notably the highest-ranking among countries offering investment schemes, providing its holders with visa-free travel and visa-on-arrival access to 174 countries worldwide.
Furthermore, Austria is recognized as one of the world’s safest countries, ranking fifth overall in the Global Peace Index, making it a desirable destination for those seeking stability and security alongside their new citizenship.
2. Antigua and Barbuda
Antigua and Barbuda stands out as a leading island nation offering one of the most appealing citizenship by investment programs in the Caribbean.
Known for having some of the most affordable options among CBI countries, Antigua and Barbuda allows investors to acquire a second passport by making a donation of $230,000 to the Antigua and Barbuda National Development Fund (NDF).
The Antigua and Barbuda citizenship by investment program offers several benefits, including visa-free travel to 150 countries worldwide. It also has the second-highest-ranking passport among Caribbean CBI programs.
Investors can choose from multiple investment options, including contributing to the University of the West Indies Fund. Additionally, the initial $230,000 donation covers a family of four, but for a family of five or more, the donation goes up to $245,000. Nonetheless, this is still an attractive program because of how family-friendly it is.
3. Dominica
Dominica, a Caribbean nation that often goes unnoticed in discussions about the global influence of Caribbean countries, offers one of the region’s most attractive citizenship by investment programs.
Like Antigua and Barbuda, Dominica’s citizenship by investment program has a low investment requirement: $200,000 to contribute to the country’s Economic Diversification Fund (EDF).
Additionally, there is an option to purchase government-approved real estate for a minimum of $200,000, typically involving high-end tourist accommodations.
The Dominica citizenship by investment program provides many advantages. In terms of property investment, Dominica presents the lowest qualifying investment in government-approved real estate among CBI countries, starting at just $200,000.
Moreover, there are no residency requirements, and applicants are not required to visit the country or attend interviews to obtain a secondary passport. Those who reside in Dominica and become tax residents can benefit from the country’s territorial tax, meaning individuals will not be taxed on worldwide assets.
4. Grenada
Thanks to several compelling factors, Grenada has quickly emerged as a top choice for obtaining a second passport in the Caribbean. Through its investment program, applicants can gain citizenship via its straightforward process. Grenada has strong political ties with the United States, which makes it an ideal economic citizenship option for Americans and foreign nationals alike.
Investors seeking Grenadian citizenship can contribute to the country’s economic development by donating $235,000 to the National Transformation Fund (NTF). Alternatively, they can choose to invest in government-approved real estate projects, with options including a $270,000 investment for shared ownership or $350,000 for sole ownership.
The Grenada citizenship by investment program offers several benefits. Notably, Grenada is the only Caribbean country that allows foreign investors the opportunity to settle in the United States through the US E2 Visa program. This program also permits the inclusion of immediate family members and a dependent parent or sibling through a single qualifying property investment.
Geographically, Grenada is situated outside the hurricane belt and has recorded only four hurricanes throughout its history, making it the least vulnerable to hurricanes among Caribbean nations offering citizenship by investment. Additionally, a Grenadian passport grants visa-free access to 147 countries, including China and Russia.
5. Jordan
As the sole Middle Eastern nation offering a citizenship-by-investment program, Jordan stands out as a unique and attractive option for those seeking economic citizenship.
This distinct characteristic positions Jordan as a prime destination for international investors who are not only looking for a valuable second passport but also aiming to take advantage of the country’s strategic location and rich Islamic culture. The minimum investment required for this program is a real estate purchase of $750,000.
The Jordan citizenship by investment program offers many benefits. The country offers lucrative investments encouraged by its Economic Modernization Vision, which aims to develop growth and innovation.
Additionally, Jordan enjoys one of the lowest levels of domestic, international, and organized conflict, ensuring a stable and secure environment for investors. The program offers the cheapest real estate per square meter among all countries with citizenship by investment programs, making it an economically attractive option for property investors.
6. Malta
Most EU countries grant citizenship solely through naturalization or descent. However, the Malta citizenship by investment, also known as the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment (CES) program, provides a faster and more accessible path to EU citizenship, allowing investors to secure citizenship in as little as 12 months.
This can be achieved through a non-refundable investment of €750,000, a real estate investment of €700,000 or a five-year lease agreement totaling €16,000 annually, and a charitable donation of €10,000.
The Maltese citizenship by investment program offers major benefits that make it stand out. It is the only citizenship by investment program available in Europe and the fastest option for becoming an EU citizen. Malta’s passport is highly ranked, placing in the top 30 countries on the Global Passport Index, and it offers visa-free and visa-on-arrival access to 172 countries worldwide.
According to ILGA-Europe, Malta is recognized as the best country for promoting LGBTQ rights in 2023, further enhancing its appeal. Finally, Maltese citizenship grants freedom of movement throughout the European Union, providing significant mobility and opportunities within the EU.
7. St Kitts and Nevis
Since its introduction in 1984, the St. Kitts and Nevis government’s economic citizenship program has improved and grown. The process for acquiring economic citizenship and a second passport has become well-refined over the years, contributing to its consistent and growing popularity among foreign investors.
The program offers several investment options, beginning with a $250,000 contribution to the country’s Sustainable Island State Contribution (SISC). Investors can purchase a single-family home worth $800,000.
The St. Kitts and Nevis citizenship by investment program has many second passport benefits. It is loved for its fast processing time of just 12 months and offers visa-free travel to 153 countries, including EU Schengen states, the UK, Singapore, Russia, and Hong Kong.
8. St Lucia
St. Lucia’s citizenship by investment program is highly regarded within the citizenship investment community. Known for its small yet stable political environment and economy, St. Lucia offers a seamless application process for those seeking to acquire citizenship. The program provides a range of investment options, including real estate, with the minimum investment starting at $240,000 through a donation to the St. Lucia National Economic Fund.
The St. Lucia citizenship by investment program offers several second passport benefits, such as visa-free travel to 153 countries and immense tax benefits. There is no residency or visitation requirement to apply.
The program also provides diverse investment options, including affordable real estate investments and refundable government bonds. The application process takes about 10 to 12 months. Additionally, when investing in government bonds, no additional investments or administrative fees are required to include immediate family members and other dependents.
9. Turkey
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 real estate investing, 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 include no requirement to invest in government-approved real estate projects for the real estate investment option. Turkey also has the lowest cost of living of all countries, offering an investment citizenship program
10. Vanuatu
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.
The Vanuatu citizenship by investment program is the fastest CBI program in the world. The country has a swift application process and grants citizenship within 60 days. There is zero personal income tax on local and worldwide earnings.
11. Portugal
The Portugal Golden Visa program is a five-year residency by investment opportunity for non-EU nationals. The intention is to attract foreign investment into the country.
With a Portuguese passport, you can access all 27 European Union nations and 174 countries worldwide, visa-free or visa-on-arrival, making it one of the world’s most powerful passports.
The minimum investment requirement for the Portugal Golden Visa is €250,000, and various investment options are available, such as investing in scientific research, donating to the arts, and creating jobs.
Through the Portugal Golden Visa, you first obtain a residence permit. You can apply for a permanent residence permit or citizenship and a Portuguese passport by holding your investment for at least five years.
12. Spain
Spain has one of the most sought-after European Golden Visa programs for expats, and for good reason. The abundance of benefits it offers its residents is almost limitless. The Spain Golden Visa program is a residency by investment scheme allowing foreigners to enjoy legal residence in Spain in exchange for a qualifying investment.
You can obtain the Spain Golden Visa from investment options such as €500,000 in real estate or €1 million in shares or stock of a Spanish company.
If you have enough money to support yourself and maintain residency for ten years, you may be eligible for naturalization and a golden passport. The Spanish passport ranks in the top 20 on the Global Passport Index, allowing visa-free and visa-on-arrival access to 174 countries worldwide.
Benefits of a Second Passport Through Investment
The main benefits of a second passport include better family safety, financial stability, and easier global travel. It provides security by giving your family a backup plan in a stable country. Many Caribbean and European countries offer Citizenship by Investment (CBI) programs, which give global mobility, security, and financial freedom through a second passport.
Here are some key benefits of holding a second passport:
Increased global mobility
Increased global mobilityA second passport can offer visa-free access to numerous countries, reducing the hassle and constraints of obtaining visas. This is particularly valuable for citizens from countries with less powerful passports.
Enhanced safety and security
Enhanced safety and securityIn times of political unrest, economic instability, or other crises in one’s home country, a second passport provides an option for safe haven. It acts as an insurance policy, allowing individuals and their families to relocate or travel freely without being tied to the circumstances of a single country.
Business opportunities
Business opportunitiesA second passport can open up new business opportunities, including access to favorable markets, investment options, and financial services that might not be available to citizens of other countries. It can also facilitate easier international banking and the establishment of businesses in foreign jurisdictions.
Tax optimization
Tax optimizationHolding a second passport can offer tax advantages depending on the countries involved. Some individuals may benefit from more favorable tax regimes or the ability to manage tax liabilities more efficiently through residency in a country with more advantageous tax laws.
Cultural and educational experiences
Cultural and educational experiencesA second citizenship often comes with the right to live, work, and study in another country, offering rich cultural experiences and access to world-class education and healthcare systems.
Family benefits
Family benefitsMany citizenship by investment or residency programs allow applicants to include family, ensuring that the benefits of a second passport extend to spouses, children, and sometimes even parents and siblings.
Estate planning and inheritance
Estate planning and inheritanceA second passport can simplify estate planning and inheritance matters, particularly in cases involving assets or properties in multiple countries. It can also provide heirs with broader opportunities and rights.
Personal freedom
Personal freedomBeyond tangible benefits, a second passport represents personal freedom. It offers the ability to choose where to live, work, and travel, independent of the limitations or obligations imposed by a single nationality.
Have a backup plan
Have a backup planA plan b passport gives you a solid backup plan and added security in times of instability. Even if you do not wish to relocate, you can choose a citizenship by investment program with a low physical residency requirement and high returns.
What citizenship is right for me?
Compare our Citizenship and Golden Visa Programs.
Common Types of Investments
Citizenship by investment programs provide a route to acquiring a second passport through various types of financial investments. Here are the common types of investments available when seeking second citizenship:
1. Real estate investment
1. Real estate investmentSeveral countries offer citizenship in exchange for purchasing real estate. The required investment amount can vary significantly, and often the property must be held for a specified period, usually around 3-5 years. Popular destinations for real estate investment include Spain, Greece and St. Kitts and Nevis.
2. Government bonds
2. Government bondsSome CBI programs allow investors to obtain citizenship by purchasing government bonds. These bonds must typically be held for a number of years without interest. Countries like Malta and St. Lucia have such options.
3. Business investment
3. Business investmentInvesting in local businesses or establishing a new business can also be a path to citizenship. This often involves creating jobs and contributing to the economic development of the country. Countries like Canada and Austria offer business investment routes to citizenship.
4. Donations to national development funds
4. Donations to national development fundsMany programs require a direct contribution to a national development fund or similar government entity. These non-refundable donations are used to fund public projects like education, healthcare, and infrastructure. Dominica and Antigua and Barbuda are known for such donation-based programs.
5. Investment funds
5. Investment fundsSome countries offer the option to invest in government-approved investment funds. These funds are typically used to support economic development projects within the country. Greece and Cyprus have such investment fund options. These programs are designed to attract foreign capital and expertise, providing investors with the benefits of a second passport, including enhanced travel freedom, security, and potential tax advantages. The investment requirements and benefits vary by country, allowing investors to choose the program that best suits their needs and goals.
How can I get a second passport through investment?
Here’s an overview of the 2nd passport by investment application process.
Step 1: Select a licensed agent:
As an investment migration firm, this is where we come in. We have the best legal experts to help guide you through the application process, ensure compliance with local laws, and help you choose the best options.
Step 2: Make the investment:
Choose the investment route that best suits your situation and ensure the investment meets the minimum requirements for the chosen country.
Step 3: Submit required documents:
- Valid passport, birth certificate, and any national ID cards.
- Bank statements, proof of income, and financial statements that verify your ability to make the required investment.
- Police clearance certificates or other documents verifying a clean criminal record.
- Sometimes, a health certificate may be required to confirm you’re free from contagious diseases.
- Documents showing your commitment to the investment (e.g., real estate contracts, proof of government fund contribution).
- Marriage or divorce certificates (if applicable) and proof of residency or address.
Step 4: Application review and processing
After submitting all documents and making the required investment, the government will review your application. This includes thorough due diligence checks, which can take several weeks to a few months, depending on the country.
Step 5: Receive citizenship and passport
Upon approval, you’ll receive a certificate of citizenship and can apply for your second passport. The passport will grant you visa-free or visa-on-arrival access to various countries, depending on the program chosen.
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 Second Citizenship By Investment
What is a secondary passport by investment?
A second or third passport by investment, also referred to as citizenship-by-investment, is a route to citizenship by which individuals can invest a specific amount of money in a country and in return, obtain citizenship.
What's the best Secondary passport by investment in Europe?
The best economic citizenship program in Europe is Portugal’s Golden Visa scheme.
The program provides a renewable residence permit that can lead to citizenship after five years and has one of the lower property investment options available.
What's the best second passport in the world by investment?
The best citizenship program by far is Dominica’s citizenship program.
Individuals are given dual citizenship in exchange for a qualifying investment worth at least $100,000 in four months.
The Dominica passport also offers visa-free travel advantages to over 120 destinations.
Why do people invest in a second citizenship?
Dual citizenship grants individuals freedom of mobility worldwide with visa-free access to over 100 nations.
It also increases their chances of a higher quality of life by providing them with benefits from two countries.
What is the easiest country to get a second passport?
Caribbean countries, such as Vanuatu, and Dominica, are the easiest countries to get a passport.
How can I invest in a second passport?
Many countries worldwide offer residency and citizenship programs to qualifying investors and their family members.
These programs provide individuals with renewable residency rights and citizenship in exchange for a significant investment in their respective nation’s economy.
Can you buy a second citizenship?
While you cannot “buy” a citizenship, you can invest in a nation to get one. Countries worldwide offer citizenship through investment programs that lead to a second citizenship.
Is it worth it investing in a second citizenship?
Yes, absolutely. If you have dual or multiple citizenships, you’ll have more freedom across the world.
How hard is it to get a second passport?
Obtaining a second passport can vary depending on factors like your current citizenship and the country you’re interested in.
It can involve proving ancestry, investing in a country, or meeting residency requirements.
While it’s not necessarily difficult, it often requires time, effort, and sometimes financial investment.
Where can I get a second passport?
You can get a second passport through Citizenship by Investment (CBI) programs in countries like St. Kitts and Nevis, Dominica, Turkey, and Malta. Other ways include citizenship by descent, where you inherit citizenship through your ancestry, citizenship by naturalization after living in a country for a certain period, or citizenship by marriage in some countries.
What is the minimum investment required to obtain a second passport?
The minimum investment required to obtain a second passport varies by country and program. Generally, it can range from $130,000 to $2 million, depending on the specific Citizenship by Investment (CBI) program and the type of investment, such as real estate, government funds, or business investments.
How long does it take to obtain a second passport through investment?
The processing time can range from a few months to over a year, depending on the country.
Caribbean countries can process applications within 3-4 months, whereas European countries may take longer, sometimes up to 12-24 months.
This duration includes due diligence checks and processing of the investment and application.
Are there any residency requirements for maintaining the second passport?
Residency requirements also vary by the program. Some countries, like Saint Lucia or Dominica, do not require you to reside in the country at all.
Others, like Portugal’s Golden Visa program, have minimal residency requirements, such as staying for a few weeks per year.
Some countries may require more substantial physical presence or even tax residency as part of maintaining your citizenship status.
Can family members also obtain passports through the investment program?
Yes, most citizenship by investment programs allows the main applicant to include family members in their application.
This typically includes spouses, dependent children, and sometimes dependent parents or grandparents.
Each family member included may require additional fees or a higher investment threshold, but this offers a pathway for entire families to obtain second passports together.
How much do I need to invest to qualify for a second passport?
To qualify for a second passport through Citizenship by Investment (CBI) programs, you typically need to invest between $130,000 and $2 million, depending on the country and specific program requirements.
How long does it take to obtain a second passport through investment?
The time it takes to obtain a second passport through investment varies by country but generally ranges from 3 to 12 months after the application is submitted, depending on the specific program and processing times.
Can my family members also get a second passport through my investment?
Yes, most programs allow you to add your family members to the application. When approved, they will have the same rights and benefits as the main applicant.
