St Kitts and Nevis pioneered the idea of economic citizenship in 1984 and since then as many as 15 countries officially in 2018 have active CIPs running.
In 18th century, a special citizenship-by-investment program prevailed in Scotland, a century before St Kitts started the idea, which continued long after the Union with England in the 18th century: an investment of GBP 83 in the Royal Bank of Scotland allowed a foreign citizen to become a citizen of Scotland and, by extension, the UK.
History of Citizenship by Investment
The economic citizenship programs existed in several countries before 2000, but after 9/11 these programs were shutdown
- Scotland 18th century – £83
- St Kitts 1984 for $150K
- Dominica 1993 for $50K
- Belize 1985-2001 $40K
- Ireland 1984-1994 for £1m, closed in 2002
- Grenada 1997-2001 for $50K reopened in 2015
- Montenegro 2008-2010 for €500K reopening in Oct 2018
- Nauru 1998-2002 for $50K
- Tonga 1982-1996 for $50K
- Vanuatu 1996-1997 for $50K
From just two CIPs in 1990’s, proliferated to 15 countries implementing it and the concept of citizenship by investment is being widely embraced globally, despite criticisms on due diligence.
It is estimated that CBI-citizenship by investment industry is $3 billion industry and by 2020, the industry is predicted to become $5 billion and more countries expected to offer citizenship through economic investment.
| Country | Inception | Minimum Investor | Requirements | Residency Requirements | Citizenship time | Visa free countries* | |
| 1 | St Kitts and Nevis | 1984 | $150,000 | Contribution/Real estate | – | 3-6 months | 141 |
| 2 | Commonwealth of Dominica | 1993 | $100,000 | Contribution/Real estate | – | 4-6 months | 127 |
| 3 | Cambodia | 1996 | $250,000 | Donation | – | 3-6 months | 49 |
| 4 | Bulgaria | 2009 | €1 m | Government bonds | 1 year | 15 months | 156 |
| 5 | Cyprus | 2011 | €2 m | Real estate/Bonds | 6 months | 8 months | 163 |
| 6 | Grenada | 2013 | $150,000 | Contribution/Real estate | – | 3-5 months | 131 |
| 7 | Antigua and Barbuda | 2014 | $100,000** | Contribution/Real estate | 5 days | 4-6 months | 140 |
| 8 | Malta | 2014 | €1 m | Contribution + Bonds | 1 year | 15 months | 173 |
| 9 | Saint Lucia | 2015 | $100,000 | Contribution/Real estate/Bonds/Business | – | 5-7 months | 132 |
| 10 | Samoa | 2016 | $1.5m | Business | 3 years | 3 months | 116 |
| 11 | Turkey | 2017 | $250,000 | Real estate/Bank deposit/ Bonds/ Securities | 3 months | 3 months | 110 |
| 12 | Vanuatu | 2017 | $150,000 | Contribution | – | 3-4 months | 116 |
| 13 | Jordan | 2018 | $1.5m | Bonds/Investment | 5 years | 3 months | 45 |
| 14 | Moldova | 2018 | €100,000 | Contribution | – | 3 months | 110 |
| 15 | Montenegro | 2018 | €350,000 | Real Estate | 3 weeks | 3 months | 112 |
* Henley Passport Index 2018 ** Bitcoin accepted for Antigua
In 2018, Egypt and Mauritius announced opening of economic citizenship program in the future.
- Egypt ($390,000)
- Mauritius ($500,000)
Top 5 Most popular CBI programs
- Moldova
- Dominica
- Antigua
- St Kitts and Nevis
- Grenada
Official Government Sources
- St Kitts & Nevis – http://www.ciu.gov.kn
- Antigua and Barbuda – http://www.cip.gov.ag
- Dominica – http://cbi.gov.dm
- St Lucia – https://www.cipsaintlucia.com/
- Grenada – http://www.cbi.gov.gd/
- Malta – http://iip.gov.mt
- Cyprus – http://cipregistry.mof.gov.cy
- Vanuatu – https://vancitizenship.gov.vu/index.php/news-and-updates
- Samoa – https://www.mcil.gov.ws/wp-content/uploads/2017/12/FINALinvestment.pdf
- Turkey – http://www.invest.gov.tr/en-US/infocenter/news/Pages/amendments-ease-access-to-turkish-citizenship-for-foreign-investors.aspx
- Cambodia – http://www.cambodiainvestment.gov.kh/wp-content/uploads/2012/09/LAW-96-Nationality-E.pdf
- Moldova – https://mei.gov.md/ro/content/chiril-gaburici-semnam-contractul-de-implementare-programului-de-dobandire-cetateniei-prin
- Montenegro – http://www.gov.me/en/News/189589/Press-release-from-87th-Cabinet-session.html
- Jordan – http://www.jordantimes.com/news/local/gov%E2%80%99t-sets-conditions-grant-nationality-permanent-residency-investors
- Bulgaria – http://www.loc.gov/law/help/investor-visas/bulgaria.php
