Citizenship by investment (“CBI”) and Residence by investment programs (“golden visas”) have seen big growths in recent years. Jus pecuniae means acquiring citizenship against financial contribution. But citizenship for many immigrants, comes at a significant financial cost.

CBI/RBI Industry

The Investment immigration scheme industry is currently a $45 billion industry annually which consists of

• Citizenship by investment (CBI) – $15bn /yr
• Golden Visa Residence – $30 bn /yr

There are mainly two routes,  one is residency (Golden visas) and other is instant citizenship with a passport (CBI schemes).

The number of countries offering citizenship and residency schemes based on economic investment have ballooned due to globalisation, fueling global demand for passports and visas.

Globalisation

But what is causing an alarming growth in this industry?

The Rich and wealthy want a quick solution for the best country that guarantees safe haven, best education and healthcare and its passport that offer free movement to many countries with no visa restrictions.  Global uncertainties such as Brexit deal, Trump victory, Syrian crisis, Hong Kong protests, Turkey lira crisis, Demonetisation in India is fueling the growth pushing people to look for alternative citizenships elsewhere. These also serve as push factors for driving the wealthy to other safe haven countries

IMF report on revenues from citizenship by investment programs, says St Kitts & Nevis has achieved impressive 11% of GDP in 2015 and slashed its debt by 64%. Portugal golden visa ARI scheme reported 4.5 billion euros (90% invested in real estate) inflows in just 6 years of running the scheme.  Malta and Greece reported over 1 billion euro inflows since the inception of the citizenship scheme in the EU.

These countries have completed recovered from recession and the economy is steering towards positive growth, since the inception of economic citizenship and residency programs.

I will spot out the main difference between citizenship and residency programs and then will list about 35 countries offering investment programs to foreign investors. Both of these two routes will lead to citizenship.

Citizenship by Investment

Citizenship by investment programs (CBI/CIP) gets you fast track citizenship within months, waiving naturalisation requirements such as residency, military service, language requirement etc. This is one of the main reasons why citizenship by investment programs are so popular and also less time consuming.  The citizenship given is lifetime can be passed on to future family generations through children. Montenegro and Moldova opened new citizenship by investments in 2018.

Golden visas

RBI/Golden visa programs, grant ONLY residency, no immediate citizenship.  Citizenship is only optional, usually takes 5 years of uninterrupted living to naturalise for citizenship. Golden visas are usually permanent residency or residence permits issued with limited time validity (say one or two years). You have to extend the validity of residence permit (under golden visa) once every two for five years and to do this you must visit the country personally.

Differences	Golden visa	Golden passport
Type	Residence by investment	Citizenship by investment
Investment	Real estate/Business	Donation/Real estate/Business
Citizenship	Optional	Immediate
Physical residence	Days/Weeks	None / Yes (EU schemes)
Taxation	Residence based taxation	Citizenship based taxation
Permits	Permanent Residence permits	Passports / Naturalization certificate
Family	yes	yes
Right to vote	NO	Yes
Dual citizenship Laws	Not Applicable	Applicable
Visa free	Regional	Worldwide

Global pandemic

The Covid-19 pandemic has underpinned the importance of CBI and Golden visa schemes to rebuild the economy after collapse in tourism, travel and business sectors. The Global GDP is expected to shrink by 1% and economic growth is expected worldwide.

Popular Investment Routes

There are several quick investment routes to buy citizenship or residency through investment. The best, easiest, less expensive and fastest option is

• Real estate  (citizenship/residency)
• Donation payment to Government fund (citizenship only)
• Government bonds/stocks
• Business / capital transfer

Another interesting option is buying Government bonds ($300,000 onwards), you will get your full money refunded back after 5 years or can be financed as well, because the investment is risk-free  and guaranteed by Government with no interest. You keep your citizenship for life time. You will not lose your citizenship after getting back your money from bonds.

A handful of countries grant residency or even citizenship against capital investments in  Art & culture projects, Research and technology sector, Green energy sectors and foundations or organisations serving public interest..

The benefits of second citizenship are enticing such visa free travel to several countries to Europe/UK, education for children, freely do business, tax free status, and also benefits stateless persons .

Physical Residence

The biggest problem with programs in United States, United Kingdom, Canada, yes they give you permanent residence status but you are required to physically immigrate and live there permanently. You cannot be absent for more than 6 months in a year. Many investors dont want to move and live there away from home. Another problem is you are taxed on worldwide income, if you get permanent resident status. Golden visa schemes in Europe such as Portugal, Greece, Spain do not require you to live or move to these countries.

Citizenship by Investment (CBI) schemes have zero residency requirement before or after receiving passport.

Tax Planning

Tax planning offshore cannot be overlooked when acquiring a second citizenship. In most countries, you are taxed based on your residency (live 182 days/year), not citizenship for the income generate inside the country.

The United States and Eritrea are the only two countries in the world with the “Citizenship based tax regime”. The US taxes both citizens and non-citizens on their worldwide income. There are virtually no taxes in the Caribbean.

In Europe, Austria (55%), Netherlands(52%), Sweden (62%), Finland(56%-62%), Denmark (56%)  has the highest income tax rates.

Dual Citizenship

Dual citizenship also must be evaluated accordingly so that you wont automatically lose citizenship by taking up citizenship of foreign country.

If you come from a country where dual citizenship is prohibited, you are better off to apply for residence by investment schemes. For example Hong Kong nationals already have a best and powerful passport to travel, so they dont need a second passport. A Golden visa is desirable option.

For countries like India, China, Saudi Arabia etc. dual citizenship is prohibited. We ask you to seek legal advice before you apply for CBI schemes which comes with second passport perk.

RBI/Golden visa schemes will naturally be good choice if you dont want to face risks associated with dual citizenship.

You decide which country you like, be it a passport or residency.

Europe

Only Malta and Cyprus have the official citizenship programs. All other countries in Europe require residency first before citizenship. There are about 15 countries in Europe offering residency or citizenship to foreign investors against a qualifying investment.

These are two types

1.  Citizenship by Investment Programs
2. Golden Visas in Europe

1. United Kingdom

• GBP 50,000 (innovator visa) 
• Residency by investment in the UK (permanent)
• Qualifying investments (business enterprise)
• Citizenship after 5 years of living in the UK (PR status / ILR required)
• Attractive program post Brexit due to cheaper pound value.
• 2 months application processing time.
• Residency requirement: You must live 9 months per year in the UK.
• Innovator visa offers path to Indefinite leave to remain (ILR green card status)

2. Portugal

Portugal is the No.1 Golden visa scheme in Europe. It is officially knows a ARI program.

• EUR 250,000 (Cultural/Artistic donation) or EUR 500,000 (Investment fund)
• Residency by investment in Schengen country.
• Qualifying investments (real estate, business, research, capital transfer, Art)
• Minimal residency requirements – 7 days per year.
• Immediate permanent residency for property investors
• Most popular property investment program in Europe.
• EU Citizenship after 6 years (no strict residency conditions).
• No requirement to live in Portugal
• Processing time is 3 months
• Free movement in Schengen with residence permit (“TÍTULO DE RESIDÊNCIA”) issued by Portugal.

4. Greece

• EUR 250,000 (Greek golden visa residency program) Real estate (outside Athens)
• EUR 400,000 (bank deposit or government bonds)
• Direct Permanent residency by investment scheme
• Qualifying investments (real estate property ownership)
• Permanent residence permit issued valid for 5 years.
• No work allowed under this scheme.
• Greece Citizenship after 7 years of living (requires PR status)
• Free movement in 26 schengen states with residence permit issued by Greece
• No residence requirements.
• Cheapest property investment program in Europe
• No language tests, No education, No business experience required to apply.
• Processing time is 3 months.

4. Spain

• EUR 500,000 real estate investment or EUR 2 million in Government bonds
• Spanish golden visa program
• Residency by investment in Schengen country
• Qualifying investments (real estate, bonds, company shares)
• Spanish Citizenship after 10 years of living (non spanish speaking countries), quicker 3 years for those from spanish speaking countries. (no PR status required)
• No requirement to live in Spain after getting residency (must visit spain for few days every year).
• Free movement in Schengen states with residence permit(“PERMISO DE RESIDENCIA”) issued by spain.

5. Ireland

• EUR 100,000 Business visa (Passive investments not accepted)
• Residency by business in EU member state.
• Stamp 4 permanent resident status after 5 years.
• Qualifying investments (enterprise, donation, real estate, bonds)
• Irish Citizenship after 5 years of uninterrupted living (no PR status required)
• No requirement to live in Ireland
• Most popular program for UK nationals seeking Irish passport post Brexit
• Ireland is an excellent business investment destination with corporate friendly taxes.

6. Belgium

• EUR 200,000 business investor scheme
• Belgium business investor program (passive investments not accepted)
• Residency by investment in Schengen
• Qualifying investments (business investment and create jobs)
• Belgium Citizenship after 5 years of living in Belgium (PR status in 5 years)
• Most popular business immigration program in Europe .
• No requirement to live in Belgium after receiving residency.
• Free movement in Schengen states with residence permit (“VERBLIJFSTITEL”) issued by Belgium.
• Easy application process and no language tests or business experience required.

7. Malta

• EUR 750,000 (approx) in Malta direct citizenship for exceptional investments
• EUR 100,000 (Malta Golden visa offers direct permanent residency in schengen with no citizenship path )
• European passport for investor and family in 15 months
• Residency requirement: 1 year or 12 months by satisfying genuine link to Malta (e-residency must rent or buy a home in Malta).
• No language tests, No military service, No citizenship tests, No business experience required
• Live,work, study anywhere in 26 countries in Europe (Switzerland, Germany, France, Sweden).
• Malta citizenship after 12-15 months
• Malta IIP open to EU and EEA nationals.
• Maltese passport offers visa free travel to 160 countries in the world to USA, Canada, United Kingdom etc.
• No requirement to live in Malta after receiving citizenship.
• Maltese citizenship is not confidential as names of people are published in official gazette to public.

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8. Cyprus

• EUR 300,000 property investment (golden visa)
• English is official language.
• Easy application process with high approval rates.
• Citizenship after 5 years of living. and for family generations.
• Application process is confidential and citizenship not reported to other countries.

9. Netherlands

• EUR 1,250,000 (Dutch golden visa)
• Netherlands foreign investor scheme
• Residency by investment in Netherlands (passive investments not accepted)
• Qualifying investments (business capital, shares, bonds)
• No residency requirements (must visit Netherlands once a year for few days)
• Dutch Citizenship after 5 years of living (no PR status required)
• Permanent residency status after 5 years of uninterrupted living
• Free movement in schengen zone with dutch residence permit card (“VERBLIJFSKAART”).

10. Switzerland

• CHF 200,000 to CHF 1 million (swiss business investor visa)
• Swiss business investment programme (swiss golden visa)
•  Residency by investment (passive investments not accepted eg. real estate)
• Qualifying investments (capital investment in a swiss company and create jobs)
• Swiss citizenship after 12 years of uninterrupted living ( no PR status needed)
• Swiss permanent residence card after 10 years of uninterrupted living.
• Processing time is 3 months.
• Free movement in 26 EU schengen states with swiss permit.
• Buying a home or property in Switzerland is allowed.
• No requirement to live in Switzerland.

11. Latvia

• Latvia immigrant investor program (Latvia golden visa)
• EUR 100,000 business investment in Latvia or EUR 250,000 Government bonds or EUR 250,000 property investment or EUR 300,000 bank deposit
•  Residency by investment scheme in Europe.
• Permanent residence permits
• European real estate investment program
• Latvian Citizenship after 10 years of living (must have PR status)
• No residence requirements.
• Latvian residence permit (Uzturešanas atlauja”) allows free movement in 26 Schengen states.

12. Hungary

• Hungary Guest investors opening in March 2024   
• EUR 250,000 (Real estate fund) or EUR 500,000 (property)
• Government backed residency by investment scheme (Hungary golden visa)
• 10 year residence permit granted.
• No requirement to live in Hungary.
• Lifetime permanent residence status in Europe.
• No requirement to live in the country.
• Free movement in Schengen with hungarian residence permit (Tartózkodási engedély) issued under economic interest
• Family and children can apply for Hungarian residency
• Processing time is 4 months.
• Hungarian citizenship after 8 years of living (requires PR status)
• No language tests, no business experience, no health checks, No education required.
• Financing options available with agents.

13. Bulgaria

• EUR 512,000 (Bulgaria golden visa)
• Permanent residency by investment in Bulgaria
• No free movement in Schengen (Bulgaria is not in schengen)
• Qualifying investments (bonds, real estate, business)
• Citizenship after 5 years of living.
• Processing time 2 months.
• No residence requirements to live in Bulgaria.

15. Monaco

• EUR 1,000,000 (investor visa)
• Residency by investment (Monaco golden visa)
• Residency in richest and second smallest country in the world.
• Live in France or Monaco.
• Qualifying investments (bank deposit, property purchase)
• Citizenship after 10 years of living.
• Free movement in 26 schengen states
• No residency requirements.
• Investment in buying a home or property allowed under the scheme.
• Open to EU and non-EU nationals

16. Andorra

• EUR 400,000 (Andorra residency program)
• Residency by investment
• Qualifying investments: Property investment (real estate)
• Andorra citizenship after 20 years of living
• No free movement in Schengen states.
• Processing time is 2 months.

17. France

• EUR 300,000 (Talent passport scheme)
• Residency by investment (french investor visa)
• Qualifying investments: Startup in a french company with job creation
• French citizenship after 10 years of living.
• No requirement to live in France
• Processing time is 2 months.
• No language tests, No interviews, No education required.
• Free movement in schengen with carte de sejour

Although Turkey is not a part of Europe, i will list it here

18. Turkey

• USD 400,000 (Real estate property investment)
• Turkish Citizenship by investment (CIP) launched in 2018
• Qualifying investments: Real estate ($250,000), or Bonds/Bank deposit ($500K)
• No residence requirements
• Turkish citizenship for family and children
• No free movement in Schengen states (Turkey is not in schengen)
• Turkey offers competitive corporate tax rates in the OECD region
• Turkish passport ranked 51 best passport in the world with visa free access to 110 countries.
• Processing times average 6 months
• No requirement to live in Turkey after citizenship.

20. Italy

• Italian Golden Visa
• Residency by investment  (2017 Budget Law, were discussed and approved by the Italian Parliament on 7 December 2016 and made effective as of 1 January 2017)
• Qualifying investments: EUR 250,000 in business startups or EUR 2,000,000 in Government bonds, shares or EUR 1,000,000 in public interest projects (culture, education, immigration management, research and development, arts and heritage)
• Italian residence visa issued for 2 years and thereafter renewed (including family members)
• Free movement in Schengen countries with Italian residence permit.
• Italian citizenship after 10 years of living.

21. Germany

• EUR 100,000 (Business investment must have economic impact and create jobs. Passive investments not allowed.)
• Real estate investment possible in some cases
• Germany Residency Program 
• No minimum stay requirements
• Permanent settlement permit after 5 years
• Application approval time is 60 days.
• Free movement in Schengen with German residence permit .
• German passport rated as the most powerful passport in the World.
• German Citizenship after 8 years of living

22. Jersey

• High Value Residency Program in Jersey (Channel islands)
• Pay tax of GBP 125,000 to Jersey or GBP 2 million investor program (bonds, bank deposit).
• Jersey is a low tax jurisdiction with high standards of European living.
• International financial center.
• No taxes on capital, capital gains, inheritances, gifts, sales or turnover, estate duties
• Opportunity to invest in real estate starting from GBP 1.75 million.
• British ILR or Citizenship after 5 years of living.

Caribbean

Citizenship by Investment (CBI)

There are 5 countries in the Caribbean offering citizenship by investment (passport) to foreign investors.

1. St Lucia

• USD 100,000 (one-time donation) or USD 200,000 property investment or USD 250,000 in Refundable National Action Bonds (no interest paid)
• Economic Citizenship by investment programme (ECIP)
• Newly launched citizenship program in the Caribbean in 2017
• Permanent residence card with citizenship
• No requirement to visit the country for citizenship
• Qualifying investments (donation, real estate, business capital, bonds)
• eTA visa waiver with Canada.
• St Lucia citizenship certificate and passport in 3 months
•  No english tests, No business experience, No military service.
• Permanent lifetime citizenship for family and children.
• No residence requirements (naturalisation waived to expedite citizenship)
• No wealth, gift, inheritance, foreign income or capital gains tax
• Confidential and discrete application process.
• Citizenship not reported to other countries.

2. Dominica

• USD 100,000 (donation to Government) or USD 200,000 Real estate investment
• Economic Citizenship by investment program (CIP)
• Qualifying investments (donation, real estate)
• Dominica Citizenship in 4 months with passport
• Cheapest, easiest citizenship passport program
• Lifetime citizenship with one time payment
• Citizenship possible against $200,000 property investment
• No requirement to visit Dominica.
• Permanent residence card with citizenship.
• No interviews, No language tests, No business experience.
• Citizenship for family and children.
• Dominica passport issued valid for 10 years
• No residence requirements
• No wealth, gift, inheritance, foreign income or capital gains tax
• Confidential application process.
• Citizenship not reported to other countries.

3. Grenada

• USD 150,000 (donation one-time to government fund) or USD 220,000 Real estate investment
• Economic Citizenship by investment program (CIP)
• Qualifying investments (donation, real estate, business)
• Grenada passport in 2-3 months with citizenship certificate
• No interviews, No language tests, No business experience.
• Apply for E-2 business visa to USA with Grenada passport (must live for 3 years)
• Lifetime Citizenship for family and children.
• No requirement to live in Grenada.
• Permanent residence card issued with citizenship.
• Grenada passport issued valid for 5 years.
• Citizenship possible through $350,000 property investment in luxury hotels, villas, resorts or homes.
• No wealth, gift, inheritance, foreign income or capital gains tax
• Confidential application process.
• Citizenship not reported to other countries.

4. St Kitts & Nevis

• USD 250,000 (one-time donation to SISC Growth Fund) or USD $400,000 Property investment
• Economic Citizenship by investment program (CIP) – Oldest and most popular citizenship program since 1984
• Citizenship possible through $800,000 private family homes in St Kitts
• Citizenship granted in 3-4 months with passport
• No language tests, No business experience.
• St Kitts passport offers visa free travel to United Kingdom, Switzerland, Germany to 120 countries.
• Citizenship for family and children.
• No residence requirements and no requirement to visit or live in St Kitts
• No wealth, gift, inheritance, foreign income or capital gains tax
• Discrete and Confidential application process.
• Citizenship not reported to other countries.
• Lifetime citizenship for family and children
• St Kitts passport issued is valid for 10 years.

5. Antigua & Barbuda

• USD 100,000 (one-time donation to NDF government fund) or USD 150,000 contribution University of West Indies Fund or USD 200,000 Real estate investment.
• Economic Citizenship by investment program (CIP)
• Qualifying investments (donation, real estate, business capital)
• Antigua citizenship/passport in 3 months.
• Antigua passport valid for 5 years and must be present in the country for 5 years to renew the passport after expiry.
• Permanent residence card with citizenship.
• Citizenship through $400,000 real estate investment in approved Antigua property developments.
• No interviews, No language tests, No business experience.
• Antigua passport offers visa free travel to United Kingdom, Switzerland, Germany to 120 countries.
• Lifetime Citizenship for family and children against one time investment.
• No wealth, gift, inheritance, foreign income, capital gains taxes
• Confidential and discrete citizenship application process.
• Citizenship is confidential and not reported to other countries.
• Antigua allows dual citizenship allowed with other countries.

Americas

Investor migration programmes in the United States and Canada are very popular.

1. United States

• USD 800,000 or USD 1,200,000 (EB-5 investor)
• World’s most popular immigrant investor program
• Business investment with job create in major urban or rural US cities.
• Residency by investment (Green card permanent resident status)
• Qualifying investments (business venture, real estate projects, other investments that create jobs through regional centers)
• US Citizenship after 5 years of uninterrupted living
• Live anywhere in the US.
• Must live permanently in the US, not absent for more than 3 months.
• US imposes taxes on worldwide income to EB5 investors
• Processing time anywhere 15-18 months.
• Family and children qualify for green card.

2. Canada

• Quebec investor program QIIP 
• Minimum C$ 1.2 million
• Permanent residency by investment in Quebec, Canada
• Risk free investment as investment money refunded after 5 years.
• Must move and live in Canada permanently (cannot be absent for more than 3 months)
• Education, language skills, business experience, net assets are required to qualify
• Canadian citizenship after 3 years of living (requires PR status)
• Canadian taxes apply for holders of permanent resident status.
• Financing options available.

3. Fiji

• USD 125,000 (Fiji investment visa)
• Residency by investment
• Qualifying investments: real estate, property investment
• Fiji Citizenship after 5 years of living
• No requirement to permanently live in Fiji
• Family and children qualify for visa.

4. Bahamas

• USD 250,000  (Bahamas annual residency) or USD 750,000 real estate (Permanent residency)
• Residency by investment (permanent residency)
• Qualifying investments: Real estate property investment
• Bahamian citizenship after 10 years of living
• No personal visit required to apply
• No corporate income tax, value added tax, or wealth tax
• Purchase a property or home in Bahamas

5. Colombia

• USD 200,000 (Colombia investor program)
• Residency by investment
• Qualifying investments (real estate, business investment)
• Colombian Citizenship after 10 years of living (exceptions are  spanish, caribbean nationals can get in one or two years)
• No requirement to live in the country
• Family and children qualify for investor visa.

6. Panama

• USD 200,000 (Panama investor program)
• Residency by investment (permanent)
• Qualifying investments: Real estate investment
• Panama citizenship after 5 years of living in Panama.
• Tax haven for offshore company formations.
• Property investment in Panama real estate market.
• No exchange controls, No tax treaties with other countries.

7. Brazil

• Brazil golden visa scheme launched in 2018
• USD 140,000 ( VIPER program) or
• Brazil real estate USD 180,000
• Residency by investment (permanent)
• Qualifying investments: business, real estate property
• Citizenship after 4 years.
• Buy a real estate or invest in business in Brazil
• No requirement to live in the country.
• Brazil passport ranked 21st best passport in the world.

8. El Salvador

• Freedom Golden visa for Crypto investors
• USDT 1 million or 3 BTC equivalent. Donated to State.
• Limited 1000 visas annually
• Full Path to Citizenship.

Asia

There are three popular residency programs in Asia.

1. Hong Kong

• USD 800,000 (Hong Kong business investment visa)
• Residency by investment program
• Qualifying investments (business enterprise)
• Investment in biggest asian financial capital and trade center.
• Hong Kong Citizenship after 7 years of living ( acquiring chinese nationality, cant be dual citizen)
• Low tax jurisdiction on corporate and income taxes .
• Hong kong passport ranked 20th best passport in the world with visa free access to 154 countries.

2. Singapore

• SGD 2,500,000 (USD 1.75m) (Global investor program)
• Residency by investment (PR status) in the best asian city to live.
• Qualifying investments (business venture)
• Singapore Citizenship after 2 years of PR status.
• Best scheme for making substantial financial investment in Singapore.
• Spouse and unmarried children given permanent residence status along with investor
• Favourable tax regime benefiting foreign investors
• Singapore passport ranked top 5 best passports in the world.
• Singapore is single citizenship country (dual citizenship not allowed)

3. Seychelles

• USD 1,000,000 (business venture capital)
• Residency by investment (given PR status)
• Qualifying investments (business venture)
• Offshore tax haven with bank secrecy laws famous for company incorporations.
• Seychelles Citizenship after 11 years of living.
• Spouse and minor children can apply for PR.

4. Mauritius

• USD 500,000 (Mauritius investor program)
• Qualifying investments: Real estate property investment program
• Mauritius Citizenship after 2 years of living
• Biggest offshore financial center and low tax jurisdiction for trading and shipping companies.
• No requirement to live in the country.
• Investments in hotels, resorts or real estate developments.
• Family and children can qualify for immediate residency.

5. Cambodia

• Cambodian citizenship by investment program (Article 12 Law of Nationality 1996)
• USD 250,000 (1 billion riels) cash donation to rebuild economy of Cambodia or USD 1.5 million investment in Cambodia
• No residence requirements.
• Dual citizenship allowed along with Khmer nationality.
• Cambodian passport offers visa free travel to 48 countries.
• Citizenship for family.

6. Indonesia

• Newly launched Asian Golden Visa.
• USD 2.5 million invested in companies
• 10 year visa granted to Corporate investors
• Tax benefits

Oceania

Immigration to Australia and New Zealand through investor schemes are immensely popular.

1. Australia

• AUD 1,500,000 (SIV Significant investor stream visa)
• Residency by investment scheme most popular among HNW investors
• Qualifying investments (business investment activity)
• Australian Citizenship after 4 years of living
• Must spend 40 days every year in Australia.
• Australian residency offered to family and children.
• Fast application process with 2 months processing time.

2. New Zealand

• NZD 3,000,000 (NZ Investor 1 and 2 stream)
• Investor visa scheme suited for Ultra High-net worth investors
• Residency by investment
• Qualifying investments (mix of funds, bonds, assets)
• New Zealand Citizenship after 5 years

3. Vanuatu

• USD 130,000 one time contribution (fastest citizenship within 1.5 months and simple application process)
• Real estate $175,000
• Vanuatu Citizenship by Investment (DSP and VCP Contribution program)
• Qualifying investments: One time contribution
• Vanuatu citizenship in 1 month (fastest processing times)
• Tax haven with no corporate tax, personal income tax, capital gains or estate taxes
• Vanuatu passport offers visa free access to 126 countries including EU schengen states, UK, Russia.
• Freedom becoming a dual citizen.
• Additional costs apply for family application.

4. Samoa

• USD 1.65 million investment in real estate, tourism, agriculture, IT etc
• Samoa Citizenship by Investment Program
• Citizenship after 3 years of holding permanent residence card.
• Must hold net assets of US$ 1 million
• Dual citizenship allowed
• Samoa passport has visa free travel to Russia, Canada, United Kingdom, Schengen Area to 114 countries

Which one is the best citizenship by investment passport?

Here is our verdict:

• Cheapest citizenship/passport:  St Lucia (one person)
  
• Best European citizenship/passport: Malta
• Fastest Citizenship / Passport: Vanuatu (2 months)
• Most valuable citizenship/passport:  Malta
• Best European Golden visa: Portugal, Greece, Malta
  
• Best Caribbean citizenship/passport:  St Kitts and Nevis, St Lucia
• Best Property investment golden visa: Greece, Portugal

What about Dual Citizenship?

If you get a new citizenship in a foreign country, you have to think about dual citizenship laws. In countries such as China, India, Qatar, Saudi Arabia, dual citizenship is prohibited.

Quick Summary

Here are a quick summary of all the citizenship and residency programs currently available

1. Citizenship by Investment

Country	Started in	Minimum Investment **	Investment	Residency requirements	Time for Passport	Visa free
Malta	2013	€ 750,000	Donation	12 months	12 months	183
Dominica	1993	$100,000	Donation	none	2 months	145
St Kitts & Nevis	1984	$150,000	Donation	none	4 months	154
Antigua & Barbuda	2013	$100,000	Donation	5 days	3 months	149
Grenada	2014	$150,000	Donation	none	2 months	142
St Lucia	2015	$100,000	Donation	none	2 months	145
North Macedonia	2018	€ 200,000	Private fund	none	6 months	98
Vanuatu	2017	$130,000	Donation	none	1 month	99
Turkey	2018	$250,000	Real Estate	none	2 months	112
Jordan	2018	$1 million	business or bonds	none	3 months	55
Egypt	2019	$250,000	donation	none	3 months	60

2. Residency by Investment

Country	Started in	Minimum Investment **	Investment	Residency requirements	Time for citizenship
Portugal	2012	€ 250,000	Art/Culture	7 days/year	6 years
Spain	2012	€ 500,000	Real estate	none	10 years
United States	1993	$ 800,000	Employment	must live permanently in US	5 years
Canada	1990	C$ 1,200,000	Govt Bonds	Immediate PR but must live in Canada  for citizenship	3 years
Greece	2014	€ 250,000	Real estate	none	7 years
Hungary	2015	€ 250,000	Real Estate	none	8 years
Latvia	2010	€250,000	Business	none	10 years
Italy	2017	€500,000	Startups		10 years
Australia	2012	A$ 1,500,000	Business	40 days/year	4 years
Switzerland	2011	$ 1,000,000	Business	must live permanently	10 years
New Zealand		N$ 3,000,000	Business	146 days/year	5 years
Belgium	2012	€ 300,000	Business	none	5 years
Netherlands	2014	€ 1,250,000	Startups funds	none	5 years
Bulgaria	2009	€ 512,000	Real estate	none	4 years
Malta	2012	€ 105,000	Donation	must live permanently	5 years
Cyprus	2012	€ 300,000	Real Estate	must live permanently	8 years

 

Official Government References

Please note for all the programs, as per Government rules, you have to apply through authorised agents and service providers rather than approaching the Government directly. Please contact me and i will help you with a consulting agent.

• United Kingdom – https://www.gov.uk/tier-1-investor/overview
• Portugal – http://www.sef.pt/portal/v10/en/aspx/apoiocliente/detalheApoio.aspx?fromIndex=0&id_Linha=6269
• Spain – http://www.exteriores.gob.es/
• Ireland – http://www.inis.gov.ie/en/inis/pages/new%20programmes%20for%20investors%20and%20entrepreneurs
• Hungary – http://www.mfa.gov.hu/NR/rdonlyres/1A5BB49E-75C4-429D-A6E0-0D3E753838BC/0/program_overview_EN.pdf
• Greece – http://www.enterprisegreece.gov.gr/en/greece-today/living-in-greece-/visa-information
• Belgium – http://diplomatie.belgium.be/en
• Latvia – http://www.pmlp.gov.lv/en/
• Netherlands – https://ind.nl/en/other/Pages/Investing-in-the-Netherlands.aspx
• Malta – http://iip.gov.mt/
• Greece – http://www.mfa.gr/missionsabroad/images/stories/missions/uae/docs/permit_ependytes_en.pdf
• Cyprus – http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB
• Switzerland – https://www.efd.admin.ch/efd/en/home/themen/steuern/steuern-national/lump-sum-taxation.html
• Italy – https://investorvisa.mise.gov.it/index.php/en/
• Monaco – http://en.gouv.mc/
• Andorra – http://www.exteriors.ad/en/
• Bulgaria – http://www.investbg.government.bg/en/
• Turkey – http://www.mfa.gov.tr/guidance-for-foreigners.en.mfa
• Jersey – https://www.gov.je/Home/RentingBuying/HousingLaws/Pages/highvalueresidency.aspx

• Dominica – http://cbiu.gov.dm/
• St Kitts and Nevis – http://www.ciu.govt.kn/
• Antigua and Barbuda – http://www.cip.gov.ag/
• Grenada – http://www.cbi.gov.gd/
• Saint Lucia – https://www.cipsaintlucia.com/
• Montenegro – http://www.mia.gov.me
• Vanuatu – http://www.vancitizenship.gov.vu

• United States – https://www.uscis.gov/eb-5
• Canada – http://www.immigration-quebec.gouv.qc.ca/en/immigrate-settle/businesspeople/applying-business-immigrant/three-programs/investors/
• Fiji – http://www.immigration.gov.fj/seven-7-years-investor-permit
• Bahamas – http://www.bahamas.gov.bs/wps/portal/public/Permits
• Panama – http://www.mire.gob.pa/
• Brazil – http://cgwashington.itamaraty.gov.br/en-us/permanent_visa_(viper).xml
• Colombia – http://www.cancilleria.gov.co/en/content/resident-investor%E2%80%99s-visa
• Australia – https://www.border.gov.au/Trav/Visa-1/891-
• New Zealand – https://www.newzealandnow.govt.nz/move-to-nz/new-zealand-visa/visas-to-invest/investor-visa
• Vanuatu – https://gov.vu/acts-in-relation-to-ciip.html
• Hong Kong – http://www.immd.gov.hk/eng/services/visas/capital_investment_entrant_scheme.html
• Singapore – https://www.edb.gov.sg/content/edb/en/why-singapore/ready-to-invest/setting-up/entering-singapore.html
• Seychelles – http://www.ics.gov.sc/phocadownload/permanent_resident.pdf
• Mauritius – http://www.investmauritius.com/faqs/pr-permit.aspx
• Cambodia – http://www.cambodiainvestment.gov.kh/wp-content/uploads/2012/09/LAW-96-Nationality-E.pdf
• Samoa –http://www.mcil.gov.ws/images/2016/WebsitePDF/IDIP/CitizenshipInvestmentBrochure.pdf