Getting a Second Citizenship by Investment: 5 Best Places to Consider

Getting a Second Citizenship by Investment: 5 Best Places to Consider

Investment migration has been a trend among wealthy entrepreneurs and professionals in the past few years. Today, more and more people find this idea of alternative citizenship very attractive, especially during a crisis. And the most sought-after way of obtaining second citizenship is by investing.

Investment migration has been a trend among wealthy entrepreneurs and professionals in the past few years. Today, more and more people find this idea of alternative citizenship very attractive, especially during a crisis. And the most sought-after way of obtaining second citizenship is by investing.

Popularly known as citizenship by investment (CBI) programs, countries from around the world run their own versions of these, giving investors immediate nationality in exchange for considerable contributions to the economy, culture, or society. These countries want to increase their capital and bring their wealth across borders to prevent their economies from sinking and to pay for social programs.

On the other hand, investors prefer CBI programs because of the following benefits:

  • Friendly tax schemes
  • Visa-free travel
  • Personal safety
  • Increased global mobility

If you are interested in getting a second citizenship and want more concrete information, here are the five best places that offer CBI programs.

 

1. Antigua and Barbuda

Hundreds of beaches and year-round sunshine make Antigua and Barbuda one of the ideal holiday destinations. You can make a property purchase or a financial donation and gain life-long citizenship.

There are three routes to Antigua citizenship:

Make a donation to the government through the non-profit National Development Fund. An amount of US$100,000 should be made for a family of four members. But if you have a family of five or more, you need to contribute an amount of US$125,000.

Invest in a government-approved real estate property for at least US$200,000, which should be held for a minimum of five years.

Invest in a business pre-approved by the Cabinet of Antigua and Barbuda for a minimum amount of US$1.5 million as an individual. But if you are getting a joint purchase, each person should contribute at least US$400,000, totaling US$5 million or more.

Benefits of obtaining Antigua citizenship include:

  • Visa-free travel to over 140 countries, such as the UK and EU
  • Fast processing time, which is as little as three-four months
  • Investment is only required once the citizenship application gets approved
  • No tax on inheritance, wealth, or income
  • No physical residence is required. However, you should visit Antigua for at least five days within five years  

 

2. Dominica

Dominica is famous for its superb natural environment. It boasts acres of unspoiled tropical rainforests, lush green mountains, pristine sandy beaches, and some of the best hiking and diving spots in the Caribbean. It is also an economically and politically stable state, promoting the production of exotic fruits, coffee, and cut flowers.

There are two investment options if you wish to secure Dominican citizenship:

  • Make an economic contribution of at least US$100,000 to the government.
  • Invest in property valued at least US$200,000 in a government-approved development. The property must be maintained for at least three years. When it is held and sold after five years, the property can also qualify the next applicant for citizenship.

Benefits of having a Dominican passport include:

  • Visa-free travel to over 125 countries, including Ireland, UK, EU, and Singapore
  • No physical residency is required
  • No taxes for non-residents
  • No managerial experience or education required
  • Citizenship can be extended to dependents, including children, spouse, parents, and grandparents. The fees vary depending on the number of family members you want to include in your citizenship application.

 

3. Grenada

Grenada is in the southern part of the Caribbean, boasting a picturesque waterfront and idyllic climate. The country’s CBI program was introduced in 2013, approving citizenship applications in less than six months.

There are three routes to Grenadian citizenship:

  • A one-time donation of at least US$150,000 to the National Transformation Fund for a single applicant. A minimum of US$200,000 is required for a family of up to four members. An additional US$25,000 is required for every additional dependent.
  • A property investment from a government-approved development project amounting to at least US$220,000 as a co-owner.
  • A property purchase in a pre-approved real estate project valued at a minimum of US$350,000. The property must be maintained for at least four years.

Benefits of Grenadian citizenship include:

  • Visa-free travel to more than 130 countries, including the EU, UK, Russia, and China
  • Dual and lifetime citizenship
  • No travel required during or after the application
  • No estate or capital gain taxes
  • Access to US residency

 

4. St. Kitts and Nevis

St. Kitts and Nevis is a stunning two-island nation blessed with clear blue waters, a tropical climate, and a bustling tourism and trade economy. It is also well-connected with direct flights to and from the US and Europe, offering citizens and residents plenty of advantages.

There are two investment options for getting St. Kitts and Nevis citizenship:

  • A monetary contribution of at least US$150,000 to the government’s sustainable growth fund
  • Purchase a property amounting to at least US$200,000 in a government-approved development, which should be maintained for at least seven years. But if you want to keep the property for a minimum of five years, you need to buy one that is valued at a minimum of US$400,000 or buy shares with the same value in a real estate development.

Benefits of getting St. Kitts and Nevis citizenship include:

  • Visa-free travel to more than 130 countries
  • Fast-track 60-day processing
  • No travel requirement during application
  • Complete confidentiality
  • No requirement to visit once citizenship is granted
  • Growing high-end tourism properties

 

5. Vanuatu

Vanuatu represents the idea of paradise, boasting undiscovered tropical chains of islands in the South Pacific. It is vibrant, peaceful, and culturally diverse. Apart from its rugged landscapes, unique culture, and stunning deserted beaches, Vanuatu offers a warm welcome to all guests.

Vanuatu offers the fastest CBI program in the world. It is also the only CBI in the South Pacific that offers a commonwealth passport. It has strong relationships with powerful nations, with close economic and cultural ties to New Zealand, Australia, and the European Union.

The government’s legal requirements for obtaining Vanuatu citizenship are:

  • US$130,000 for a single applicant
  • US$150,000 for a married couple
  • US$165,000 for a family of four and an additional US$25,000 for every additional dependent

Benefits of Vanuatu citizenship include:

  • Fastest processing of any CBI program
  • Visa-free travel to over 130 countries, including Russia
  • No residence requirement, but a personal visit is necessary to receive the Vanuatu passport
  • Tax-free jurisdiction
  • Dual and lifetime citizenship

It is easy to understand the high demand for CBI programs. You can get a passport and citizenship in exchange for making a government donation or property purchase. You can also enjoy a myriad of perks, depending on the country you are applying for.

 

When choosing which CBI program to opt for, the return period or the amount of investment are not the only crucial factors. You also need to consider the country’s quality of life, application requirements, and the details of the residency. That is why working with a firm specializing in obtaining citizenship in the Caribbean and other regions is crucial to ensuring the approval of your application. Apart from having extensive knowledge about CBI programs, they also have a network of partners who can ensure a smooth and successful investment migration process.