The concept of Citizenship by investment was first born in the twin island of federation of St Kitts and Nevis in the Caribbean in 1984.  It took thirty five years for the number of  citizenship by investment programs  to grow from just one to fourteen schemes in 2019. The demand for citizenship by investment and the need for second passports among HNW families grow by 25% every year.

There are subtle differences exist between Economic citizenship and Citizenship by investment and one should not be confused with another. Many also confuse golden visas with citizenship.

• Economic citizenship is not citizenship by investment
• Golden visas do not offer immediate passports or citizenship

The citizenship by investment industry is expected to hit $10 billion annually by 2025.

Economic citizenship	Citizenship by Investment	Economic residency
Economic citizenship can be obtained by foreigners for involving in economic activity and then naturalize for citizenship according to the existing citizenship laws of country. Citizenship may take several years requiring full integration, speaking language etc.	Citizenship by investment schemes offer immediate citizenship within few months to a year to foreign investors against pre-defined investment activities such as (contribution to sovereign fund, real estate, business). Separate Citizenship by Investment Acts are enacted by countries  in a transparent and structured way, and the CBI funds are used in socio-welfare and economic development projects.	Economic residence programs  offer permanent or temporary residency with full path to citizenship. Acceptable investment activities include real estate, government bonds or debts, business capital creating jobs. Golden visas are excellent example of such economic residence by investment (RBI) schemes
Citizenship acts may or may not allow dual citizenship.	Citizenship by Investment Laws fully allow dual citizenship	Citizenship is out of question. Residence schemes are best fit for investors who come from a country does not permit dual citizenship.

 

Launch date	CBI Revenues
St Kitts and Nevis – 1983 Dominica – 1993 Malta – 2014 Cyprus – 2013 Bulgaria – 2013 Antigua and Barbuda – 2013 Grenada – 2013 Saint Lucia  – 2015 Vanuatu – 2015 Samoa – 2016 Turkey – 2017 Moldova – 2018 Montenegro  – 2018 Bulgaria – 2009 Cambodia – 1996	St Kitts and Nevis – $1 billion Antigua and Barbuda –  $110 million Dominica – $350 million Grenada – $165 million St Lucia – $36 million Malta – €1 billion Cyprus – €6.6 billion Vanuatu – $42 million Moldova – €1.3 billion * Montenegro – €700 million* Total: $10 billion + Approximate figures based on IMF and other sources, real estate and business investment not included. * Projected

Moldova and Montenegro are the newly launched CIP’s towards the end of 2018 and both schemes are expected to yield over billion euros in investments to these countries.

Quick Overview of Citizenship by Investment

Her are some insights into latest pricing of CBI/CIP schemes.

CBI	Minimum Investment	Visit Required	Passport Time	Physical Residence	Oath of Allegiance Required	Quota Limits
Malta	EUR 900,000	Yes	1 year+	Yes	Yes	1800 cases
Cyprus	EUR 2.15 million	Yes	6 months	No	Yes	700 per year
Antigua and Barbuda	USD 100,000	No	3 months	5 days in 5 years	Yes	none
Dominica	USD 100,000	No	3 months	No	Yes	none
Grenada	USD 150,000	No	2 months	No	Yes	none
St Kitts	USD 150,000	No	3-4 months	No	No	none
Vanuatu	USD 130,000	No	1 months	No	Yes	none
St Lucia	USD 100,000	No	4 months	No	Yes	none
Moldova	EUR 100,000 (suspended)	No	2 months	No	Yes	5000 cases
Bulgaria	EUR 1 million	Yes	2 months	2 years	Yes	–
Montenegro	EUR 350,000	Yes	3 months	3 weeks	Yes	none
Turkey	USD 250,000	Yes	3 months	3-6 months	Yes	none
Samoa	USD 1.5 million	Yes	2 months	36 months	Yes	none

 

 

CBI	Processing time	Visa free	Passport time	Passport type	Passport validity (years)	E-2 visa with US
Moldova	3 months	122	3 months	Biometric/E-passport	7	E-2
Montenegro	3 months	123	3-4 months	Biometric/E-passport	10	E-1/E-2
Malta	3 months	182	12 months	Biometric/E-passport	10	No
Cyprus	2 months	173	6 months	Biometric/E-passport	10	No
St Kitts	3 months	151	2-3 months	Biometric/E-passport	10	No
Antigua	3 months	150	3 months	Biometric/E-passport	5	No
Grenada	3 months	142	3 months	Biometric/E-passport	5	E-2
Dominica	3 months	137	3 months	Machine Readable	10	No
St Lucia	2 months	145	2-3 months	Machine Readable	5	No
Vanuatu	1 months	129	1 months	Machine Readable	10	No
Turkey	3-4 months	111	3 months	Biometric/E-passport	10	E1/E2
Bulgaria	2 months	169	15 months	Biometric/E-passport	10	Yes

Key Differences with CBI

These are key differences among CBI/CIP passports

• Antigua and Dominica are the cheapest CBI programs.
• St Lucia ($500,000) is the only country offering CBI passports through Government bonds/treasury bills
• Antigua and St Lucia are the only countries that offer citizenship for business investment (excess of $1.5M)
• St Kitts is the only country that offers Accelerated Application Process (AAP) within 60 days for additional fee.
• Turkey is the newly launched citizenship by investment program slashing its prices by 75% only requiring $250,000 real estate investment for citizenship
• Cyprus citizenship by investment scheme is limited to 700 applications per year
• Montenegro economic citizenship scheme will be open from Jan 1, 2019 and the scheme will run for 3 years, capped to 2000 cases.
• Malta and Cyprus are the best european passports, offering full citizenship and residence rights in the EU.
• Grenada, Moldova, Montenegro and Bulgaria are the only countries that have E-2 investor visa with United States.
• Austria does not have official citizenship by investment program.
• Western Samoa and Bulgaria passports have visa free travel to Canada (ETA). All other CBI passports do not have visa free travel to Canada.
• Vanuatu is the only country that does not have real estate investment option for citizenship by investment (donation only)
• Antigua is the only country that accepts bitcoin and other crypto-currencies for payment but implementation is still pending. No other country accepts bitcoin for CBI passport. Some agents and property developers do accept Bitcoin
• Malta is the only country that has Visa Waiver Program (VWP) with United States.
• Moldova, Montenegro, Turkey, Bulgaria and Samoa are the only five countries that are not on the OECD list of CBI/RBI schemes.
• Cambodia is the only citizenship by investment program in Asia
• St Kitts is the only country that does not require oath for citizenship. All other countries require oath of allegiance
• Montenegro will open for first applications from Q4 2019 and will be fully operational by 2020
• Citizenship from EU countries, Turkey, Grenada can be passed to family descendants.
• Dominica, Antigua signed visa waivers with Russia in 2019 making their passports more valuable.
• Grenada, Malta, Bulgaria, Turkey and Cyprus citizenships gives full right to vote and take government office positions. All other citizenships do not offer this perk.

Second Passports

The Benefits of Second passports acquired through citizenship by investment schemes are enormous. Second passports aka Golden passports are considered to be the ultimate luxury status symbol of the 21st century among the rich and wealthy. Passports are also placed in investment portfolio alongs with stocks, bonds, property etc by HNW families. In a recent survey on second passports, two-third of HNW millionaires already have a second passport, while one-third are already considering one

• Global mobility comes with travel freedom
• Second Home in a stable neutral country
• Access to best education and healthcare
• High standards of living with excellent life quality
• Tax and financial planning
• Dual citizen status
• Citizenship offers full freedom to buy home investing in real estate
• CBI passport is a life saver for families and children during political unrest, civil war, terrorism and other situations

Pull Factors

HNW families must evaluate these push and pull factors before seeking a CBI/CIP passport

• Safety
• Education for children
• Political stability
• Stable currency
• Climate factors
• High standards of living
• Friendly people who welcome foreigners and expats
• No language barriers
• Tax residence
• Dual citizenship

Trends

• Over 90% of economic citizens who have received their CBI passports do not move to the new country to live making them a new form for diaspora population.
• Over 85% of applicants applying for CBI passports chose donation option. Less than 10% chose real estate option while less than 5% opt for business route for citizenship.
• Over 90% of applicants chose to rent a property for five years rather than buying a real estate to qualify for citizenship.

 

We have compiled below 14 official citizenship by investment schemes actively running worldwide with official references.

Let us take a quick look into Citizenship by investment passports (CIP) as of  2019

1. Grenada

 

Grenada is known as gold standard of citizenship by investment schemes. The Government has cut the prices of single applicant to $150,000 in 2018. Prices remain unchanged for families. Grenada passport is the only passport that has visa free travel to China, Russia and also has E-2 treaty investor signed with United States.

Grenada has a population of 108,000 known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies with its  wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Grenada is an island nation with an exotic topography, breathtaking beaches and year-round temperate climate.  Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices. Carriacou and Petite Martinique are dependent territories of Grenada.

The Citizenship by Investment Programme came into effect in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013 enabling foreign nationals acquire citizenship, passport and permanent residence card in Grenada through the legal act.

The Grenada Citizenship by Investment Committee (CBIC) is the Government body responsible for overseeing the processing of applications for citizenship by investment or by permanent residence. The CBIC assesses each application in accordance with the Grenada Citizenship by Investment Act, 2013. It then makes recommendations to the Minister, who has the final say on whether to approve, deny, or delay the granting of Grenadian citizenship.

• Gold standard CBI passport in the Caribbean
• No residence requirements. No requirement to visit Grenada
• CBI Passport has visa free travel to 144 countries in 2018 (China, Russia, UK, EU schengen states etc..)
• Apply for E2 investor visa to US as a Grenadian citizen
• Permanent resident card issued for buyers of real estate with permanent home address
• Grenada passport valid for five years, can be renewed at consulates
• Dependent children upto 30 years and grandparents below 55 years of age can be included in the citizenship application. Child born within 12 months of acquiring citizenship also receive citizenship
• No interview, education, or management experience required.
• No requirement to reside in Grenada before or after citizenship is granted.
• No foreign income, wealth, gift, inheritance, or capital gains tax. No restriction on the repatriation of profits and imported capital
• Corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance.
• Application process is confidential, with no disclosure or exchange of information with other governments or bodies (except in DD checks)
• Dual citizenship allowed

Grenada Citizenship Amendments 2019

• Permanent residence requirement removed
• No requirement for dependent children between the ages of 18 and 30 to be enrolled at an institution of higher learning
• Parents or grandparents over 55 years can be added to application  fully supported.
• Secondary purchasers of CBI real estate units in approved projects can acquire citizenship
• Real estate investment reduced to USD 220,000 provided jointly the investment adds to USD 440,000

Grenada is best for education in the Caribbean as the country is home to the best United States offshore university – St George’s University. It is one of the finest medical, veterinary, and arts and sciences schools, and graduates train in some of the top hospitals in the United States and the United Kingdom. It is internationally accredited and currently has 6,000 students for over 140 countries.

National Transformation Fund (NTF)	Real Estate
Single Applicant: USD 150,000 Family of 4 members: USD 200,000 Additional per dependent: USD 25,000 Additional fees are application fees ($1500), due diligence fee ($5000) and processing fee ($1500)	USD 200,000 for Single applicant or Families Government fee:  USD 50,000 Additional fees are application fees ($1500), due diligence fee ($5000) and processing fee ($1500)2. Montenegro

 

2. Montenegro

 Opening for applications in early 2019 or 2020

Montenegro citizenship by investment program officially came into force on Jan 1, 2018 through a government decision. Montenegro is a also a candidate country for EU membership and is expected to join EU and Schengen area in 2025. The CBI program is expected to create more jobs and investments will boost tourism and real estate sectors in Montenegro. Montenegro previously launched economic citizenship scheme in 2010 for €500,000 within a year citizenship scheme was closed.

The Special Citizenship by investment through admission program of Montenegro was officially announced on Oct 1, 2018 for foreign investors. The citizenship scheme is limited to only 2000 applicants (first come first serve) and will only run for three years until 2021. Montenegro is a picturesque beautiful country with over 1.6 million tourists visiting the country every year. Applications stage will commence by Q2 2018

Montenegro CIP will open for applications from late 2019 and fully operational by 2020 announced by government

• Newly launched citizenship by investment opportunity in Europe
• No donation option. Full investment goes into real estate
• Lifetime citizenship for family and children
• No language tests,  No business experience. No military service required.
• Permanent residence card issued within 3 weeks, followed by naturalization certificate.
• Montenegro has E1/E2 treaty trader and investor visa signed with United States
• Free movement in EU countries and Schengen area
• Dual citizenship allowed for foreigners
• Prospective applicants must apply through authorized agents appointed by Government
• Montenegro has 45th powerful passport in the world as of 2018
• Passport offers visa free travel to 123 countries including EU schengen states, Russia, Turkey, UAE, Brazil, South Korea

Real estate in Podgorica (capital)	Real estate outside Podgorica	Five  Star Hotel developments
EUR 450,000	EUR 250,000	EUR 5 million  to 10 million
The following additional fee apply for both options. Government fee: EUR 100,000 per application Application fee: EUR 15,000 euros for Single, EUR 10,000 euros for up to 4 family members, EUR 50,000 euros for each additional family member,		Requires creation of 50 or more jobs

3. Vanuatu

The Pacific country of Vanuatu launched its citizenship by investment program in 2015. Vanuatu offers citizenship under two programs, contribution program or development support program. Both programs require USD 160,000 plus additional fees for citizenship. Vanuatu does not offer citizenship based on real estate investment (property investments not attached to CBI program). The Government also made it clear it will not accept Bitcoin or cryptocurrency for the citizenship by investment.

Vanuatu has the fastest citizenship by investment program in the world. Applications processed within 3-4 weeks and passport issued within a month

Vanuatu signed a mutual visa waiver agreement with Schengen Area countries on 28 May 2015 and with Russia on 20 September 2016.  The Citizenship commission revoked 30 citizenships granted for individuals for illegal activities under the provisions of the Citizenship Act [Cap 112] and the national Constitution.

The Republic of Vanuatu was founded in 1980. Since independence, the country is a member of the United Nations, Commonwealth of Nations, Organisation internationale de la Francophonie and the Pacific Islands Forum. The country has a population of 270,000 and GDP of $72 million. Vanuatu is a Y-shaped archipelago consisting of about 82 relatively small, geologically newer islands of volcanic origin (65 of them inhabited). Vanuatu retains strong economic and cultural ties to Australia, the European Union (in particular France and UK) and New Zealand. Tourism brings in much-needed foreign exchange. Vanuatu is widely recognised as one of the premier vacation destinations for scuba divers wishing to explore coral reefs of the South Pacific region. Vanuatu receives foreign aid mainly from Australia and New Zealand.

• Second passport from a pacific commonwealth country
• Lifetime citizenship for family and children with one time contribution
• Vanuatu has 40th powerful passport in the world
• Visa free travel to 129 countries including  UK, Schengen states, Russia
• No income tax, no withholding tax, no capital gains tax, there are no inheritance taxes, and no exchange controls
• No interviews, no language tests, no business experience
• Dual citizenship allowed in Vanuatu
• No requirement to visit Vanuatu
• Easy and confidential application process

Vanuatu Citizenship Contribution Program (VCP).	Vanuatu  Development Support Program (DSP)
Single Applicant – USD 130,000 Couple – USD 165,000 Couple + 1 child – USD 180,000 Couple + 2 children – USD 195,000	USD 130,000* USD 165,000 USD 180,000 USD 195,000

Prices include all fees and expenses.

* DSP is the most popular program with more number of CIP approved agents

4. Dominica

The Commonwealth of Dominica has the oldest and most popular legally mandated caribbean citizenship by investment scheme running since 1993. population of 73,500 people, with 20,000 living in capital city, Roseau. Dominica is also known as the ‘Nature Island of the Caribbean’ due to its wide variety of flora and fauna and extensive natural park system, boasting a remarkably unspoiled natural beauty.  Dominica is also world’s happiest places in which to live, many of its citizens are over 100 years old. The Commonwealth of Dominica should not be confused with Dominican Republic when it comes to citizenship by investment.

After Hurricane Maria devastated Dominica last year, Dominica’s CBI Programme was responsible for funding housing and hotel developments worth, as well as tourism and agriculture projects that helped the island recover.  The construction of several hotels and resorts such as Kempinski, Hilton are also funded by CBI programme in Dominica.

Dominica is a member of Caribbean Community (CARICOM) and of the Commonwealth of Nations. The Commonwealth of Dominica should not be confused with the nearby country Dominican Republic

• Best citizenship by investment passport scheme in the Caribbean
• Cheapest second passport scheme in the Caribbean
• No residence requirements with full freedom to live abroad as an economic citizen
• Lifetime citizenship for family and children
• Opportunity to invest in real estate projects
• Visa free travel to 137 countries (UK, Ireland, EU schengen states, Russia)
• Dominica has 37th powerful passport in the world in 2018
• Permanent residence possible for those buying real estate.
• Dominica has no wealth, gift, inheritance, foreign income, or capital gains tax. There are no restriction on the repatriation of profits and imported capital
• Full residence status to live and work in Dominica
• Dual citizenship allowed
• Three months processing time
• CBI Passport valid for 10 years.

EDF Government fund

Real Estate

One time contribution of USD 100,000 to Government fund in exchange for citizenship. Additional fees Government fee: $1000 per application Due diligence:  Main applicant – USD 7,500 Spouse – USD 4,000 Dependant aged 16 years or above – USD 4,00 Passport fee:   Certificate of Naturalisation Fee – USD 250 per person Expedited Passport Issuance Fee – USD 1,200 per person

USD 200,000 investment in approved real estate projects Additional fee Government fee: USD 25,000 for a single applicant; USD 35,000 for a main applicant applying with his or her spouse; USD 35,000 for a family of up to four persons, including the main applicant and up to three dependants; USD 50,000 for a family of up to six persons, including the main applicant and up to five dependants; or USD 70,000 for a family of seven persons or more, including the main applicant and six or more dependants. Due diligence:  Main applicant – USD 7,500 Spouse – USD 4,000 Dependant aged 16 years or above – USD 4,00 Passport fee:   Certificate of Naturalisation Fee – USD 250 per person Expedited Passport Issuance Fee – USD 1,200 per person

5. Antigua and Barbuda

Antigua also offers one of the best CBI passports in the Caribbean. The Antigua Citizenship by Investment Program (CIP) was established following parliamentary assent to the Antigua and Barbuda Citizenship by Investment Regulations 2014.

The Government of Antigua currently offers 50% discount limited offer until 31, March 2019. Under this offer, foreigners can apply for NTF donation for just $100,000 and also can jointly apply for real estate for $200,000. The Government of Antigua also introduced the fourth new University of West Indies Fund  (UWI fund)  option after a cabinet decision is currently open for applications effective from Oct 12, 2018.

Antigua is known as the “heart of the Caribbean” for decades for that very reason – the ease with which you can connect with the rest for the world from Antigua.  Antigua has a population of 100,000 with GDP of $1.4 billion in 2017. The islands are famous for 365 beaches of clean turquoise waters, the lush tropical islands of Antigua and Barbuda are an inviting paradise and considered to be one of the most beautiful places in the world.  Antigua and Barbuda is a member of the United Nations, the British Commonwealth, CARICOM and the Organisation of American States (OAS) among many other international organisations.  Residents of Antigua and Barbuda benefit from no capital gains tax or estate taxes. Income taxes are progressive to 25% and for non-residents, they are at a flat rate of 25%. Antigua is famous for its many luxury resorts and tourism. Antigua and Barbuda also utilizes an economic citizenship program to spur investment into the country.

• Limited Time Offer with 50% discount until March 2019
• Best citizenship by investment passport in the Caribbean
• Caribbean second passport for family
• Personal visit required for 5 days required for renewal of passport
• Dual citizenship allowed
• Application process can be made from your country of residence
• Visa free travel to 150 countries in the world (eg UK, Ireland, EU schengen area etc..)
• Antigua has 27th best passport in the world.
• Lifetime citizenship for family.
• Permanent residence card possible with buying real estate for citizenship.
• Dependent children under 28 and dependent parents over 58 can be included within the application.
• Bitcoin payment option still in the pipeline, but accepted by some agents and property developers
• CBI passport valid for five years. Renewed passports valid for 10 years.
• Citizenship offers full residency rights to live and work in Antigua anytime.
• No interviews, no english language requirements
• Travel to Antigua & Barbuda to take oath or affirmation of allegiance

NDF Donation	Real Estate	Business Investment	UWI Fund Option
Until 31st October 2019, there is a Limited Time Offer (LTO); The threshold for the National Development Fund (NDF) option has been reduced by 50%; From US$200,000 to US$100,000 for a family of up to four persons, and from US$250,000 to US$125,000 for a family of five and over. ** Additional due diligence and processing fee apply for all options	An investment of at least US$400,000 into one of the approved real estate projects and to be held for a minimum period of 5 years. Until 31st October 2019, there is a Limited Time Offer (LTO); Two (2) applications from related parties can make a joint investment, with each applicant investing a minimum of US $200,000 in order to qualify.   Government fee: $50,000 for a family of up to 4 persons with incremental payments of $15,000 for each additional dependent.	An investment of a minimum of US$1,500,000 directly into an eligible business as a sole investor or a joint investment involving at least 2 persons in an eligible business totalling at least US$5,000,000 and each of those persons individually invests at least US$400,000.	One time contribution of $150,000 to University of West Indies fund. One member of the family  will be entitled to scholarship for 1 year (tuition only) at the University of the West Indies campus.

6. St Kitts and Nevis

Saint Kitts has a population of around 40,000, the majority of whom are mainly of African descent. The primary language is English, with a literacy rate of approximately 98%. Residents call themselves Kittitians.

St Kitts and Nevis is the birthplace of citizenship by investment and the oldest CIPs in the world running since 1983. The Government requires one time contribution $150,000 to Sustainable Growth fund (SGF) or $200,000 in real estate held for seven years. The Government reduced the real estate investment minimum from $400,000 to $200,000 (by 50%) to boost the real estate sector in the island. St Kitts Government has signed a number of mutual visa waiver agreements in 2018 with Moldova, Montenegro, Russia, Belarus increasing the value of SKN passport.

Up until 2017 foreigners were required to contribute $250,000 to Sugar Industry Diversification Fund (SIDF). In Oct 2017, after the Hurricane threats, St Kitts offered discounted CIP price of $150,000 under a new Hurricane relief fund (HRF) which ran for six months. Then after the expiry it was replaced by Sustainable growth fund.

The Accelerated Application Process (AAP) approved by the Government of St. Kitts and Nevis in October 2016 allows applications with the Citizenship by Investment Program to be accelerated to a 60 day processing period.

• CBI scheme offers stable and secure path to second citizenship in St. Kitts and Nevis
• Oldest and most popular citizenship by investment program
• St Kitts is often referred as platinum standard CBI scheme in the Caribbean
• Accelerated application process for additional fee
• CBI schemes provides option for real estate investment
• St Kitts has one of the best Caribbean passport ranking 26th best in the world.
• Permitted family dependents may be of any age. Main applicants must be 18 years or over
• SKN Passport offers visa free travel to 151 countries as of 2018
• No interview, language or residency requirements
• SKN passport issued under CBI scheme valid for 10 years
• Citizenship of a country with a low tax regime including no income, inheritance or gift tax.

Sustainable Growth Fund (SGF)	Real Estate
Single applicant: a non-refundable contribution of US$150,000 is required Main applicant with up to 3 dependents (for example, a spouse and two children): a non-refundable contribution of US$195,000 is required Additional dependents, regardless of Age: US$10,000	Investment in a pre-approved real estate project, which may include hotel shares, villas, and condominium units. The minimum real estate investment required by law is US$200,000 (re salable after 7 years) or US$400,000 (re salable after 5 years) for each main applicant. Two or more applicants can jointly buy real estate

The Accelerated Application Process (AAP) guarantees successful applicants citizenship (including the issuing of passports) in 60 days or under. Pricing for the Accelerated Application Process starts from $US25,000 for the main applicant and $US500 for dependents aged 16 or under.

As of 2018, St Kitts has issued over 16,000 passports under the citizenship by investment program. CBI revenues have contribute to 65% of St Kitts governments non-tax revenues.

7. Moldova

Note: Moldova Citizenship scheme is currently suspended as of Jun 2019

Moldova’s new citizenship by investment program opened for applications on Nov 3, 2018. Moldova is a landlocked country in eastern europe with a 4 million population, actively pursues future EU membership. The Republic of Moldova has a stable economy and a passport that offers diverse travel freedom. The country has established itself as a global leader in tech innovation. Moldova ranks highly in leading international business-climate rankings.

Moldova CBI program has been modeled with world’s strictest and most advanced due diligence and vetting system

• Newly launched citizenship by investment opportunity
• Cheapest second passport program in Europe
• Lifetime citizenship extended to future generations of family and children
• No residency requirements, language tests or business skills required
• Fast application processing times (3 months)
• Moldova has E-2 investor visa treaty with United States
• Moldova CBI passport offer visa free 122 destinations, including the countries in Europe’s Schengen Area as well as Turkey and Russia.
• Low tax rates on income of individuals and legal entities at 12%.
• Moldova offers global mobility, business opportunities, and greater lifestyle freedom.
• Certificate of naturalization issued within three months.
• Moldova has the 46th best passport in the world, as of 2018
• Dual citizenship allowed

Public Investment Fund (PIF)	Real Estate / Bonds Investment
EUR 100,000 one time contribution to Government fund EUR 100,000 for a single applicant. EUR 115,000 is required for a couple, EUR 145,000 for a family of four, and EUR 155,000 for a family of five or more. Additional service fees total EUR 35,000 per application, plus government fees and due diligence fee.	EUR 250,000 investment maintained for 5 years.

8. St Lucia

Saint Lucia’s Citizenship by Investment Program was launched in December 2015 following the passage of Act No. 14 of 2015, the Citizenship by Investment Act on 24th August 2015. Saint Lucia National Economic Fund is a special fund established under Section 33 of  the Citizenship by Investment Act No. 14 of 2015. The National Economic Fund is established for the sole purpose of receiving qualifying investments of donations under the Citizenship by Investment Programme. Funds collected via the National Economic Fund will be used for purposes which have been approved by Cabinet as part of the national development agenda. Anyone applying for citizenship by investment in Saint Lucia must do so through a licenced authorised agent.

Saint Lucia became an independent country/state on February 22, 1979. Currently the country has population of 183,000 with 40% of population living in Castries (capital). Saint Lucia is unique to “The Pitons”,  two volcanic mountains listed as World Heritage Site in St. Lucia, linked by a ridge called Piton Mitan. The two Piton Mountains are perhaps the most photographed feature on the island. The larger of these two mountains is called the Gros Piton and the other is called Petit Piton. Rodney Bay known for its internationally acclaimed restaurants, offering a variety of cuisines to the tranquil natural surroundings of Soufrierre which  caters more to the spontaneous excursionist and adventure seekers. Saint Lucia has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, which is Saint Lucia’s main source of revenue.

Saint Lucia has a quality of life that is rivaled by very few places in the world with low crime rate, access to modern facilities, services and infrastructure, world class restaurants and hotels and prime real estate.  Tourism accounts for approximately 65% of GDP and has been established as the highest foreign exchange earner. The second leading industry in Saint Lucia is agriculture.  Saint Lucia ranks 8th overall in Latin America and the Caribbean and  2nd in the Caribbean Region for ease of doing business.  Saint Lucia has the distinction of having the highest number of Nobel Laureates per capita in the world.

Changes to CBI Act 2019

• St Lucia simplifies CBI act making it easy for spouse and children to acquire citizenship within five years post granting citizenship
• Average Processing time reduced to 80 days

• Newly launched citizenship by investment program in the Caribbean
• No residency requirements. No interviews. No language tests.
• Cheapest caribbean second passport program
• No requirement to visit St Lucia.
• Very fast citizenship approval within 3 months processing time
• Citizenship through property investment in St Lucia real estate
• Citizenship against investment in Government bonds/securities
• No Capital duty, No Capital acquisitions tax, Real property tax – 0.25% is imposed on residential property. No Inheritance/estate tax,  No Net wealth/net worth tax
• Saint Lucia has the 31st best passport in the world
• Visa free travel to 131 countries including UK, Ireland, EU member states, Singapore etc.
• No interviews, No language tests, No military service, No business experience needed

Economic Fund	Real Estate	Government bonds	Enterprise Investment
One time contribution to Government fund   Applicant applying alone: US$100,000 Applicant applying with spouse: US$165,000 Applicant applying with spouse and up to two (2) other qualifying dependants: US$190,000 Each additional qualifying dependant, of any age: US$25,000   Processing fee: Principal applicant: US $2000 Each qualifying dependant: US $1000	Main Applicant: US$300,000 in High-end branded hotels and resorts High-end boutique properties Fairmont Hotel is an approved CIP development   Additional Fees: Principal applicant: US $50,000 Each qualifying dependant: US $35,000 (18 years of age and over) Each qualifying dependant: US $25,000 (under 18 years of age)	Purchase of non-interest-bearing Government bonds for five years   Applicant applying alone: US$500,000 Applicant applying with spouse: US$535,000 Applicant applying with spouse and up to two (2) other qualifying dependants: US$550,000 Each additional qualifying dependant: US$25,000   Additional fees Administration fee: $50,000	Sole investment A minimum investment of  US$3,500,000 Joint venture: More than one applicant. A minimum investment of US$ 6,000,000 with each applicant contributing no less than US$1,000,000 Specialty Restaurants  Cruise ports and marinas  Agro-processing plants  Pharmaceutical products  Ports, bridges, roads and highways  Research institutions and facilities  Offshore universities Additional Fees: Principal applicant: US $50,000 Each qualifying dependant: US $35,000 (18 years of age and over) Each qualifying dependant: US $25,000 (under 18 years of age)

Please note due diligence and processing fees apply for all options.

In 2017, Saint Lucia revoked six passports issued under the citizenship by investment program for bringing disrepute to the country.

 

9. Malta

Malta launched citizenship by investment program officially known as Individual investor program (IIP) in 2014. Malta’s Individual Investor Programme (IIP) offers applicants the opportunity to gain Maltese therefore European Union citizenship with full rights.  Legal Notice 47 of 2014 of Republic of Malta under “Individual investor program” grants individuals and families citizenship and passport who involve in technology, social and economic development in Malta.

When the citizenship scheme launched IIP was limited to 1800 applications. As of mid-2018, around 900 families have been granted citizenship through IIP.  In 2018, Malta Individual Investor Programme (MIIP) rated as world’s top-ranking citizenship-by-investment programme by H&P.

Malta IIP has a four-tier due diligence process, which is considered the most stringent, and of the highest standard, in the industry, of which around 20-25% of applicants are refused of citizenship.  Only highly qualified, wealthy and talented candidates with excellent references and clean background are admitted into the Maltese IIP program. Malta has full EU membership and also participates in the Schengen area.

• Malta is a $20 billion GDP country with a population of 475,000. Malta attracted €1 billion through IIP sales, recorded a surplus. During Q3 2018, Malta recorded the highest growth rates of GDP and employment among the EU28.
• Malta does not have a property tax. Its property market, especially around the harbour area, has been in constant boom, with the prices of apartments in some towns like St Julian’s, Sliema and Gzira skyrocketing
• Malta is a popular tourist destination with its warm climate, numerous recreational areas, and architectural and historical monuments.
• Malta is  a tech savvy island for blockchain and Artificial intelligence startups.
• Malta is one of the strongest and most stable economies of the European Union and the Eurozone.
• Malta had registered a fiscal surplus for two years in a row, and the debt to GDP ratio has fallen from above 70% to around 50% in five years.
• Malta repeatedly positions as one of the top relocation destinations in the world for expats, given its employment, business and lifestyle opportunities
• Malta provides universal free healthcare, classified by WHO as one of the best in the world, universal free childcare, one of the few countries in the world to provide it, and universal free education for all its citizens.  University students receive a stipend.

•  Gold standard citizenship by investment programme in Europe
• No military service. No maltese language tests. No citizenship tests.
• Citizenship/passport possible after 12 months of approval
•  No requirement to permanently live in the Country.
•  Application approval within 3 months.
• Permanent lifetime citizenship for family in the European Union.
• EU/EEA citizens are eligible to apply.
• Malta has the 7th powerful european passport in the world.
• Visa free travel to over 160 countries including USA, Canada, UK, Ireland etc…
•  Dual nationality is freely allowed.
• Live, work, study, settle in any EU member states (Germany, Switzerland, France, Denmark etc..)
• Malta publishes names of IIP citizens in Gazette every year.

Individual Investor Program (IIP) All 3 investment criteria must be satisfied
National Development Fund (NDF)	Property Investment	Government bonds/stocks
EUR 650,000 one time contribution	Buy a property for minimum EUR 350,000 or Rent a home in malta for EUR 16000 per year	EUR 150,000 Refunded after five years.

Additional fee apply

10. Cyprus

Cyprus citizenship by investment scheme first in the European union was launched in 2007 for EUR 25 million, as per the decision of council of ministers, for naturalization of investors by exception, and further amendments on 2013 the investment reduced to EUR 2 million.

On 13th of September 2016, the Ministry revised the “Scheme for Naturalization of non-Cypriot investors by exception” and, thus, established the new criteria and terms such as limiting the scheme for 700 families per year, tightening the background checks and establishing CIP registry of service providers. Foreigners buying a property for €2 million euros can qualify for citizenship through investment in Cyprus.

Cyprus CIP is the biggest citizenship scheme in the EU bringing over €6.5 billion euros giving the much needed boost to economy and real estate sector. A total of 3,336 foreigners mostly from Asia, Europe and Arab countries obtained cyprus citizenship/passport through investment scheme between 2014 to 2018. Prior to 2013, Cypriot citizenship was granted on a discretionary basis by ministers  required investors least €10 million for a passport. During cyprus financial  crisis, investors who held deposits prior to 15 March 2013  and lost over €3 million were given citizenship.

Cyprus is a major tourist destination in the Mediterranean, a high-income economy, a member of theCommonwealth since 1961, joined the European Union in 1 May 2004 and Eurozone on 1 January 2008. The country does not participate in the schengen area.  Cyprus has a population of 1.1 million with the GDP of $29 billion. Cyprus is part of a monetary union and of the EU single market.

• Best citizenship by investment passport in Europe for HNW/UHNW investors
• Permanent lifetime EU citizenship with one-time investment.
• Best education, healthcare and low cost of living in a EU member state.
• Pleasant climate with mild winters and dry summers.
• No physical residence requirements. No military service. No cypriot language tests.
• No restrictions on dual/multiple citizenship
• Cyprus provides excellent education and health care system in EU
• Cyprus has the 15th powerful passport in the world as of 2018.
• Cypriot citizenship/passport after satisfying six month residence requirements.
• Cypriot passport has visa free travel to 173 countries including UK, EU member states, Canada, Singapore etc.
• Invest in luxury real estate and residential properties in Ayia Napa, Larnaca and other sea side developments
• Live, work, study in any of 28-EU member states (Switzerland, Austria, France, Germany, UK, Sweden etc..)
• Future children automatically acquire EU citizenship.
• Political stability and a high standard of living.  Low crime rates.
• Easy application process
• Dependents, spouse and children under 28 can be included in one single citizenship application.
• Citizenship in Cyprus is not reported to other countries.
• No restrictions on applicants from any country.

2019 New Changes

The Cabinet of Minister announced new main changes, effective from 15 May 2019:

• All new applicants must hold a valid Schengen visa — a copy of which will need to be added to the applicant’s citizenship file.
• The investment period will increase from three to five years from the date of naturalization for all new applicants submitting after 15 May 2019. Currently, for existing applicants the period for retaining the investment is three years.
• Applicants must pay donation fee of EUR 150,000 (EUR 75,000 to the Research and Innovation Foundation and EUR 75,000 to the Cyprus Land Development Corporation)
• All new applicants submitting after 15 May 2019, who wish to invest in housing units that have already been used to acquire Cypriot citizenship via the Cyprus Investment Programme, will now need to invest at least EUR 2.5 million — up from the current rate of EUR 2 million.
• Enhanced due diligence checks for all applicants
• Investments in Government bonds and treasury securities removed for citizenship scheme.

Real Estate	Investment Funds	Business Capital Investment	Mix of Investments
€2.15 million in real estate property	€2m million for five years, refundable after	€2 million	€2 million

11. Turkey

Turkey first announce new citizenship by investment scheme in 2017 for $1 million. In 2018, to significantly boost FDI, the government cut prices by 75% to $250,000 in real estate. Foreigners qualify for Turkish citizenship and passport by investing in real estate, government bonds, enterprise investment and creating jobs. The citizenship law was published in the Official Gazette on September 18, 2018

Turkey has robust economy which tripled its GDP, reaching USD 851 billion in 2017, up from USD 231 billion in 2002. Turkey participates with EU Customs Union since 1996 and Free Trade Agreements (FTA) with 21 countries. Turkey has the world’s 13th largest GDP by PPP and is among the founding members of the OECD and the G-20  . Turkey offers reduced corporate income Tax reduced from 33 percent to 20 percent (22 percent for 2018, 2019 and 2020)

• Biggest economy connecting Eurasia with $2 trillion market.
• New Citizenship by investment program opened in 2018.
• Turkish identity card with citizenship and passport within 6 months
• Visa free travel to 111 countries including Japan, Singapore, Thailand, Malaysia, Brazil.  Note:Visa required to visit UK, EU schengen, Russia, Canada, US
• Turkey has 51st powerful passport in the world
• No residence requirements. No tests or interview
• Dual citizenship permitted in Turkey

2019 update: Turkey has simplified application process from now on you can apply for residency and citizenship together with Invest turkey offices

Capital investment	Real estate	Bank deposit	Government bonds	Job creation
A minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira.	A real estate worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years.	Deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition of not to withdraw for at least three years.	Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.	created jobs for at least 50 people.

12. Samoa

Samoa launched its citizenship by investment scheme in 2016 under Citizenship Investment Act 2016 and its Regulations 2016.  This scheme is administered by the Ministry of Commerce and Industry in Samoa. Applications must be submitted to the Citizenship Investment Committee.

Citizenship by Investment is the granting of citizenship status to an individual and immediate family members  upon a specified and quantifiable investment in Samoa.  This new CBI program will allow individuals and immediate family members an additional option to obtain Samoan Citizenship through investment.

Foreign investors and any family members are eligible to apply for Samoan Citizenship within three months before the expiry of the Permanent Resident Permit

Samoa is a member of commonwealth, has a population of 195,000 with a GDP of $1.1 billion. Samoa lies south of the equator, about halfway between Hawaii and New Zealand, in the Polynesian region of the Pacific Ocean. The country’s currency is the Samoan t?l?, issued and regulated by the Central Bank of Samoa. Tourism is an expanding sector which now accounts for 25% of GDP and more than 100,000 tourists visit every year. Samoa is well known for Rugby and is a national sport.

• Second citizenship and passport from a small, peaceful country
• Visa free travel to 129 countries including Canada, Europe, Russia, UK, Ireland
• Samoa has 40th best passport in the world as of 2018
• Family and children eligible for life time citizenship status
• Investors receive permanent residence, citizenship and passport.
• All investors must prove minimum net worth of SAT$2.5m ($1 million)
• Dual citizenship allowed
• Minimal requirement to live in the country 15 days a year.

Real estate	Agriculture	Tourism	Information Technology	Energy	Government fund
SAT $4m or USD 1.5 million in leasing and development of government lands	SAT$4m or US$4m in Fishery, Agriculture	SAT $4m or USD $1.5m	SAT $4m or USD 1.5 m	SAT $4m or USD 1.5 m in Solar power, electricity generation, bio-fuel	SAT$4m for national development

13. Bulgaria

The Bulgarian Immigrant investor programs, was introduced in 2009 by amendments to the Bulgarian Citizenship Act. The Amendments which entered into force on February 23, 2013, created a variety of options for qualified investors participating in the Immigrant Investor Program (IIP) . The IIP program allows high-net-worth individuals from non-European Union countries who have a combined net worth greater than €1 million  comprised of cash, real estate, business, government bonds or securities and their families to obtain Bulgarian permanent resident status and become eligible for Bulgarian citizenship within 18 months.

As of September 2018, almost 200 people applied to obtain Bulgarian citizenship on the basis of an investment.

Bulgaria joined the European Union in 2007 and is part of the European Single Market. Bulgaria GDP is $168 billion with a population of 7 million residents. Bulgaria has the lowest corporate income tax rates in the EU at a flat 10%. In Dec 2017, Bulgaria along with Romania received electronic visa waiver with Canada. Bulgaria has committed to adopt the euro once it fulfills the necessary conditions. Bulgaria is currently in the process of joining the Schengen area.

Update: Bulgaria Ministry of Justice announced new proposals to tighten citizenship requirements for investments. You have to maintain investments for atleast two years, if not citizenship will be stripped or revoked.

• Bulgaria offers Fast track EU citizenship by investment to foreigners
• Live, work, study and travel freely in all of the EU’s 28 member states.
• Bulgaria offers full EU citizenship rights of establishment for family.
• Fast track citizenship and passport after two years of maintaining the investment.
• Personal visit required to apply for permanent residence
• No language tests. No business experience. No education requirement
• Visa free travel to 169 countries including Canada, UK, Ireland, Europe, Brazil etc.
• Bulgaria has 18th powerful passport in the world.
• Dual citizenship permitted for bulgarian citizens
• Applicants and their family members are not required to be physically present in Bulgaria

Investors must hold permanent residence permit for 2 years before being eligible for citizenship.

Fast track citizenship	Golden visa
€1 million	€512,000
Government bonds or real estate or Bank deposit. Fast track citizenship in 18-24 months after receiving permanent residency.	Investments in business, real estate, bonds but citizenship granted after five years.

14. Cambodia

Cambodia has only citizenship by investment scheme in Asia.  Cambodia offers Khmer citizenship to foreign investors who donate or make an active investment in Cambodia. The Cambodian CBI program has been running for a number of years only relatively few investors  know about this as the scheme is not widely promoted.

Article 12 Cambodian Law of Nationality 1996  provides a path to obtain Khmer nationality (Cambodian) citizenship by investment by donating USD 250,000 cash to the economy of Cambodia.

In June 2018, the Government raised the minimum investment for investment projects from USD 350,000 to USD 1.5 million.

Foreigners qualify for fast track citizenship in Cambodia with the following investment conditions.

• Donation to Cambodia (USD 250,000 or 1 billion riel)
• Investment in Government approved project (USD 1.5 million or 6 billion riel)
• Business Investment (USD 350,000 but citizenship after 7 years of legally living through residency)

Well known celebrities and americans are dual citizens of Cambodia.

Cambodia allows dual citizenship or nationality. Some 1036 foreigners persons acquired Cambodian citizenship by investment as of 2018.

15. Romania

 

Romania does not have an official citizenship by investment program.

Romania offers economic citizenship for investments but it is a slow naturalizsation process. Foreigners must invest EUR 1 million  in business or real estate and to be legal residents in the country for 4 consecutive years to gain citizenship.

Romania is a full EU member states and all citizens of romania are also EU citizens. Romania along with Bulgaria last year received visa waiver with Canada.

Our Verdict

In our opinion, we have our verdicts on the best citizenship by investment passports (CIP)

Best EU passport	Cheapest CBI passport	Unique and discrete CBI passport	Best Caribbean Passport
Cyprus Malta Bulgaria	Antigua Dominica Moldova	Montenegro Bulgaria Turkey	Grenada St Kitts and Nevis Antigua
Best Real Estate Passport	Best Asian Passport	Fastest CBI passport	Low cost Family passports
Cyprus Montenegro Malta	Turkey Cambodia	1. Vanuatu 2. St Lucia 3. Grenada	1. Antigua 2. Vanuatu 3. Dominica

 

Economic and Social Indicators

Economic and social indicators of the CBI countries. These include safety, education, healthcare, how rich in terms of per capita income. These indicators will give you a good idea on how good a country is for living.

So, which is the best citizenship by investment?

We made a comparative study to pick which country has the best CBI program in the world taking into account 30 important metrics to evaluate the best citizenship by investment program.

A majority HNW investors when applying for a CBI passport want to know more about the country where they seek passport.  After all it is a big decision! They ask about these six fundamental questions and without doubt first comes safety.

• How safe is the country?
• Is my money safe in the country? Does it have strong currency and sound financial system?
• How many visa free countries i can travel to?
• How good is the education and healthcare for my children?
• What is the standard of living in these countries?
• What is the best CBI passport?

This report aims to address these fundamental questions and provides answers empirically on CBI passports.

1. CBI Pricing – Lower the price receive more points
2. Safety and security in terms of crime rate
3. Visa free countries in total
4. Visa waiver with EU schengen states
5. Visa waiver with UK/Ireland
6. Visa waiver with United States
7. Visa waiver with Canada
8. Visa waiver with Russia
9. Visa waiver with China
10. GDP output in billion
11. Which are Rich CBI countries in terms of GDP per capita?
12. Population in CBI countries – We believe population fosters economic growth
13. CBI Passport time (months)
14. Physical Residency conditions – No residence conditions receive more points
15. Does CBI has EU citizenship rights?
16. E-2 treaty with US
17. Access to Education
18. Access to Healthcare
19. Human development index HDI Rank which tells standards and quality of living
20. Dual citizenship rights
21. Privacy – Publish CBI names in Gazette
22. Government Debt
23. Personal Income Tax – Low taxes receive more points
24. Strong currency (USD index)
25. Due Diligence
26. Transparency of CBI scheme
27. CBI Passport Validity
28. Biometric or e-passport issued under CBI schemes
29. Lifetime Citizenship transferred to all family generations
30. Passport fee for renewals

The results are surprising

CBI	PBS Score (200 points)	Rank
Malta	134	1
Grenada	130	2
Cyprus	126	3
Bulgaria	125	4
Montenegro	118	5
Turkey	116	6
Moldova	114	7
St Kitts	113	8
Antigua	111	9
Dominica	101	10
St Lucia	100	11
Vanuatu	98	12
Cambodia	83	13
Samoa	82	14

Which is Cheapest citizenship by investment?

We made a CBI pricing comparison tool to discover the cheapest citizenship by investment program. This easy to use tool helps you to discover the cheapest CBI program.

Family members have a big impact on the pricing of citizenship by investment schemes.

• Dominica is the cheapest CBI for single applicants.
• Antigua is the cheapest CBI for families. Please note currently Antigua offers 50% discount.
• Real estate option also becomes cheaper than donation option for large families with over 5 dependants.
• Moldova and Montenegro have their pricing in Euros, so you have to convert to US dollars for effective comparison for cheap.
• Malta IIP scheme contributions significantly vary between 900K to 1.1M depending on the family members.

Our Verdict

So which is the cheapest CBI program for families through donation? The winners are

1. Donation Route

Single Person	Main Applicant + Spouse	Main Applicant + Spouse + 2 Children below 18
Dominica Antigua St Lucia St Kitts Grenada Vanuatu Moldova Turkey Montenegro	Antigua St Lucia Dominica Vanuatu St Kitts Moldova Grenada Turkey Montenegro	Antigua St Lucia St Kitts Dominica Grenada Moldova Vanuatu Turkey Montenegro

2. Real estate

Single Person	Main Applicant + Spouse	Main Applicant + Spouse + 3 children below 18
Dominica St Kitts Antigua Grenada Turkey St Lucia Montenegro Bulgaria Cyprus	Dominica Antigua St Kitts Grenada Turkey St Lucia Montenegro Bulgaria Cyprus	Dominica Antigua St Kitts Grenada Turkey St Lucia Montenegro Bulgaria Cyprus

 

Due diligence

All applicants have to undergo four tier enhanced due diligence and background checks by governments and third party due diligence firms. The checks take anywhere from 3-4 months.

Failing background checks, will lead to denial of CBI passports. Applications can be filed through authorized agents.

The list of authorized agents can be found in CIU websites.

Please note several providers collaborate and work with CIP authorized agents. Citizenship or passports acquired through CBI investment schemes can be revoked at later stages, if imprisoned, provided false information, concealment or misrepresentation.

Restricted countries: North Korea, Somalia, Iran, Afghanistan or countries under US sanctions. If you have a visa denial from EU/UK with visa waiver agreements with CBI countries, you will be denied citizenship.

Real Estate

Buying a real estate or property in exchange for citizenship has numerous advantages. You can invest for a limited share in a hotel or resort starting from $200,000 in CBI countries.

You can also buy a full deed title but costs could exceed $1 million or more. Buy a permanent home for citizenship entitles you permanent residence card + citizenship + passport. You can sell the property after three years and in some countries you are required to hold for over five years. Note that in the Caribbean there is an added Government fee for just real estate option which ranges from $35K to $50K.

The most important advantage of buying a home is it proves you have a genuine link and valid reason to have a passport. Your CBI passport can have address that ties to your home in the local country rather than foreign country where you currently live. For example if you have your home in St Kitts, you can have your passport address tied to your home in St Kitts. This perk is not available through donation option.

Real estate can be either rented or purchased to avail permanent resident card in CBI countries. Airbnb has made it easy to earn rental from property in places with big tourist demand.

Bitcoin and Cryptocurrencies

Bitcoin and other cryptocurrencies are accepted by agents for Vanuatu and Antigua.  No governments as of today accept Bitcoin or other crypto. Malta last year announced crypto currencies will not accepted for Individual investor program (IIP).

Please check with your CBI agent for crypto currency investments.

Taxes

Citizenship does not constitute automatic tax residency. Most countries levy territorial based taxation, that taxes are based on residence status living atleast 183 days a year.  CBI citizens mostly live in diaspora and rarely visit or live in CBI jurisdiction

Last year OECD has listed CBI/RBI schemes for CRS (common reporting standard) compliance and has directed banks to request for tax residence status from all countries they live. Banks automatically share and exchange data through CRS and there are 135 countries participating in the system.

Banks in all CBI jurisdictions except Moldova and Montenegro are CRS compliant and exchange tax information. These two countries may join the CRS in the future.

CBI citizens must seek legal advice for tax planning and dual citizenship and residency  matters.

How to start and apply?

This is what you need to do to apply for Citizenship and passport by investment schemes (CPBI)
Simple application process involved in CBI/CIP schemes

1. Pay a small initial deposit to start the process
2. Authorized CBI agent will issue you application forms and agent will do initial due diligence.
3. Pay the due diligence and Govt processing fees (agent will quote you) and launch the application with the Citizenship by investment unit (CIU)
4. Wait for 3-4 months to receive approval letter from Government. This will be received by your agent
5. Once your CBI application is approved, pay the full donation/contribution or real estate lump sum to escrow account of the Government.
6. After receipt of all fee, you will be issued citizenship certificate and passport to all family members. You can collect these from your agent or at the concerned embassy/consulate.

Dual Citizenship

Dual citizenship situation must be carefully assessed and should not be overlooked. Candidates from countries which prohibit dual citizenship must seek legal advice. Golden visa/ residence by investment are betted suited for  these individuals rather than a  second citizenship or passport.

Most advanced countries are open to dual citizenship. Europe, Americas, Oceania is the most liberal, while Asian countries are more restrictive.

• Not allowed: China, India, Russia, Singapore, Malaysia, GCC (UAE, Saudi Arabia, Bahrain, Qatar, Oman, Kuwait) etc.
• Allowed:  United States, United Kingdom, Canada, Australia and other countries
• Allowed but with prior permission: South Africa, Russia
• Allowed but only with certain countries: Pakistan

Many countries also have restriction on the use of dual passports. For example while entering US, citizens can only use US passport to enter and exit US.

Future Citizenship by Investment

In the future, there is a more possibility more countries may open citizenship by investment schemes. These countries could be Mauritius, Seychelles, Serbia etc.

Jordan and Egypt recently introduced citizenship for investment schemes but the disadvantage is millions of investment required, slow long process for citizenship and these passports are not powerful in terms of access to visa free countries.

Slovenia, Slovakia, Croatia, Cape Verde, Brazil, Singapore, Belize, Dominican Republic, Mexico have laws that offer discretionary naturalization or economic citizenships for investments.

 

 

We hope you have enjoyed this long article. Please contact us for free quote below. We work with authorized citizenship agents promoting citizenship by investment schemes.

 

CBI – Citizenship by investment
CIP – Citizenship by investment programs / Citizenship by investment passport
CBI/RBI – Citizenship by investment (CBI) and Residence by investment (RBI)
IIP – Immigrant investor programs
IIP – Individual Investor Program (IIP) of Malta
MCBI – Moldova Citizenship by Investment
GV – Golden visa / Gold visa
CRBI – Citizenship and residence by investment
IV – Investor visa
ERP – Economic Residence permit
ECP – Economic citizenship program
CIU – Citizenship by Investment Unit
CBIU – Citizenship by Investment Unit
MSCAP – Montenegro Special Citizenship by Admission Program
EB-5  – Employment based fifth preference
VDSP – Vanuatu development support program
VCP – Vanuatu citizenship contribution program
GP – Gold / Golden passports
ICS – Investor citizenship schemes

 

Official references

• St Kitts and Nevis – http://ciu.gov.kn
• Dominica – http://cbiu.gov.dm
• Antigua – https://cip.gov.ag
• St Lucia – http://cipsaintlucia.com
• Grenada – http://cbi.gov.gd
• Moldova – http://cbi.gov.md
• Montenegro – http://www.gov.me/en/News/193956/Cabinet-passes-Decision-on-economic-citizenship.html
• Malta – https://iip.gov.mt/agents-list/
• Cyprus – http://cipregistry.mof.gov.cy/en/
• Vanuatu – https://vancitizenship.gov.vu/
• Cambodia – https://www.refworld.org/docid/3ae6b5210.html
• Turkey – http://www.invest.gov.tr/en-US/infocenter/news/Pages/new-turkish-citizenship-rules-encourage-foreign-investment.aspx
• Western Samoa – https://www.mcil.gov.ws/wp-content/uploads/2017/12/FINALinvestment.pdf
• Bulgaria – https://investbg.government.bg/files/useruploads/files/legal_guide_2013_v2.pdf