The Best of the Most Affordable Second Passport Programs
Having dual citizenship allows you to become a citizen of two or more countries at the same time. While not all countries allow you to hold two (or more) passports at the same time such as India or China, most countries such as the USA, Canada, and the UK do. There are also those countries where this is a grey area, like Germany, Panama, and Singapore where it is generally not allowed in theory though often possible in practice. There are four main ways to acquire second citizenship:
1- Citizenship by Ancestry
Many countries permit you to acquire citizenship easily if you can prove that you have ancestral ties. Citizenship by descent is usually free, the process can be finished relatively quickly and is undoubtedly the best way to obtain second citizenship if you qualify.
2- Citizenship by Naturalization
Acquiring citizenship by naturalization usually involves living in a country for a specific number of years as a permanent resident before qualifying to apply for full citizenship. The requirements for acquiring full citizenship can vary considerably from country to country.
3- Citizenship by Marriage
Citizenship by marriage is another form of naturalization. Most countries in the world give you a second passport if you marry a citizen. However, if not real, this is not a very practical citizenship strategy. Fake marriage arrangements are risky. Not only can you get in trouble and get deported by the government.
4- Citizenship by Investment
If you cannot have a second passport by descent, naturalization, or real marriage, there are also other options. One of the most guaranteed ways is Citizenship by Investment (CBI) Program. Citizenship by investment programs enables the applicants to rapidly obtain citizenship with no required residence period, or only a short nominal period measured in days or weeks within a year. These are often known as “golden passports” or “cash-for-passport” programs, offering visa-free travel and possible tax advantages.
Once you meet the requirements, you can apply for citizenship by investment or fast-track naturalization programs by contributing a donation to the country’s government or investing in pre-approved projects.
Many countries offer citizenship by investment programs, however, they differ in the cost and conditions which may make you wonder which one is right for you.
In order to make a better choice first, you had better define the criteria that matter the most to you: The amount of money to be invested, time of the process, the access to other countries the program gives you, or the benefits that the dual citizenship bring to you.
Top Countries Offering Affordable CBI Programs
|Location||Country||Timeline||Minimum Investment||Visa-free countries|
|Asia/Europe||Turkey||6-9 months||From $ 250,000||111 countries|
|Oceania||Vanuatu||1-2 months||From $ 130,000||142 countries|
|Caribbean||Grenada||3-6 months||From $ 150 000||144 countries|
|Caribbean||Saint Kitts and Nevis||3-8 months||From $ 150,000||157 countries|
|Caribbean||Saint Lucia||3-4 months||From $ 100,000||146 countries|
|Caribbean||Dominica||3-6 months||From $ 100,000||144 countries|
|Caribbean||Antigua and Barbuda||3-4months||From $ 100,000||151 countries|
|Europe||Montenegro||3 months||From € 350,000||124 countries|
Define “The Most Affordable” Citizenship
Defining the cheapest second passport and citizenship program depends on a variety of factors. Asking these questions may clarify what you actually need and want:
- Is it the one that you pay less for or the one that makes more money for you?
- Do you mean the cheapest for a family of four or just a single person?
- Do you want the real estate investment or government donation options with the smallest investment?
Listing your answers in the following categories may help to make the right choice.
1-The most affordable Second Passport for Families
While Antigua and Barbuda is an attractive destination, it does not have the cheapest overall program for single applicants because, in addition to the $100,000 minimum donation, you also have to pay a $25,000 application fee.
However, the donation and fee cover spouses, dependent children with no age restrictions, and dependent parents over 58 years old. So, you can apply for yourself, your spouse, your three children, and your parents for just $125,000. Additionally, you will have to pay for professional and due diligence services. Despite this, Antigua and Barbuda Second Passport programs are the cheapest if you have a big family.
2- Cheapest Second Passport Real Estate Option
Technically, Dominica is also more cost-effective. However, government fees make it a bit more expensive than Grenada. The spice island grants citizenship to applicants that make a real estate investment of at least $220,000. Grenada has one of the most extensive programs. It allows spouses, dependent children with no age restrictions, siblings, parents, grandparents (of the applicant), and their spouses to be part of the application. In addition, Grenada is the only Caribbean CBI program with an E-2 treaty with the US. If you’re looking for a profitable investment that will get you a second passport? Grenada is your option.
3- The Most Profitable Second Passport Option
Turkey has perhaps the most profitable passport simply because there are no restrictions regarding your real estate investment. You can invest $250,000 in as many real estate projects as you want and wherever you want in Turkey. Most CBI real estate options only allow you to invest in government-approved programs. While this prevents fraud, it considerably limits your chances to make money with your investment. With the Turkish program, you can design an investment strategy that will earn you money, which will allow you to get back the investment you have made a plus profit.
4- The Best Overall Affordable Citizenship by Investment Programs
Both St Lucia and Dominica require the lowest investments by which you can receive a second passport. Therefore, they are the cheapest second passport to obtain. You only need to make a minimum $100,000 donation to the government.
For more detailed information on the requirements for obtaining Citizenship by Investment, please contact one of our advisers in the UAE, Denmark, or Canada, we will accompany you and your family until you obtain the second Citizenship.
If you have any questions or comments about Citizenship by Investment programs, you can share them with us in the comments section.