The investment immigration industry is susceptible to various political and economic changes. Affected by global or local events, national citizenship- and residence-by-investment programs change frequently. New opportunities appear and some old ones disappear. The programs change with time.
The demand for second passports and foreign residence permits is growing but so are the due diligence requirements. Security checks are strengthening and this is a global tendency. In any case, it is quite possible to become a citizen or a legal resident of a foreign country. None of the countries that administer citizenship-by-investment programs disallows dual citizenship so you can retain citizenship of your home country when obtaining a second passport.
Foreign citizenship by investment
Several countries of the world currently ‘sell’ their passports to foreign nationals. The largest number of citizenship-by-investment is found in the Caribbean: Dominica, Antigua and Barbuda, St Lucia, St Kitts and Nevis, and Grenada have such programs.
It does not make much difference which of the countries you choose. The matter is that by acquiring a passport of any of them you become a CARICOM citizen, which means that you can legally live and work in all CARICOM member states. Thus, we will simply quote the required donation amounts that can bring Caribbean citizenship to you. Please note that donation amounts were officially raised only a few days ago.
Caribbean citizenship
- Dominica – US$ 200,000;
- Antigua and Barbuda – US$ 230,000;
- Grenada – US$ 235,000;
- St Lucia – US$ 240,000;
- St Kitts and Nevis – US$ 250.
All the five countries accept investments into real estate in addition to donations but their amounts are a bit higher.
Citizenship acquisition timeframe: 6 months or more whichever country you choose.
Advantages: a second passport of a Caribbean country is a rather strong travel document and the region is paradise on earth.
Malta
Malta is currently the only EU country that offers citizenship-by-investment opportunities. However, passports of the country are expensive. You have to make a donation of 600,000 euros if you are prepared to wait for your passport for 3 years. If you donate 750,000 euros, you can get a Maltese passport in 1 year. In addition to that, you have to buy or rent residential accommodations in Malta.
Citizenship acquisition timeframe: 1 or 3 years.
Advantages: the Maltese passport is the most powerful travel document that you can buy for money. It gives visa-free access to more than 180 countries.
Vanuatu
Now when the Caribbean countries have raised their prices, Vanuatu offers the most affordable second citizenship. You need to donate US$ 145,000 to become a citizen of Vanuatu. The country currently does not allow making a returnable investment and getting a passport in exchange.
Citizenship acquisition timeframe: from 6 weeks.
Advantages: since citizens of Vanuatu have lost visa-free access to the EU and Great Britain, the natural beauty of the country remains its most serious advantage.
Jordan
Jordan’s citizenship-by-investment program is mostly aimed at citizens of other Muslim countries. It is not very popular, however.
Minimum investment amount: US$ 750,000 (an investment in a business venture that creates jobs in Jordan).
Citizenship acquisition timeframe: from 3 months.
Advantages: No need to live in the country to keep its citizenship. Family members can be added to the application for citizenship.
Turkey
Turkey does not accept donations. A foreigner can qualify for economic citizenship of the country if he/ she purchases property there or puts money in a venture or an investment fund. The foreigner cannot withdraw from the investment before 3 years pass.
Minimum investment amount: US$ 400,000 (real estate), US$ 500,000 (investment fund).
Citizenship acquisition timeframe: from 6 months.
Advantages: Turkey has a strategic geographical position: it is located at the border of Europe and Asia. Besides, the country’s economy is rather strong.
Egypt
Egypt launched a citizenship-by-investment program a comparatively short time ago. The minimum investment amount is US$ 300,000 (in real estate) and the citizenship acquisition timeframe is from 3 months. It is too early to assess the level of success of the Egyptian citizenship-by-investment program.
Legal residence in a foreign country by investment
Some countries choose to ‘sell’ residence permits to foreigners instead of passports. They are said to administer residence-by-investment programs. Normally, you can qualify for citizenship of the country whose residence permit you have ‘purchased’ if you live there for a few years.
Hungary
The Hungarian residence-by-investment program was officially launched on July 1, 2024. A foreign investor can qualify for a residence permit by making a contribution to the country’s economy. Investing in real property is one of the available options.
Minimum investment amount: 250,000 euros.
Residence acquisition timeframe: 21 business days.
Advantages: Hungary is an EU member state with all the advantages that the status brings. A foreign investor does not have to permanently reside in the country to keep the residence permit. Family members can acquire residence permits together with the main applicant. Real property can be rented out.
Spain
Spain launched its residence-by-investment program in 2013. Several financial routes to Spanish residence are available but the purchase of real property has been the most popular one.
Minimum investment amount: 500,000 euros.
Residence acquisition timeframe: 15-20 business days.
Advantages: visa-free travel throughout Europe; no permanent residence requirements; permits for all family members without any extra investments.
Cyprus
Foreign nationals can acquire permanent residence permits in Cyprus if they buy real estate in the country. Please note that most other countries administering residence-by-investment programs issue temporary residence cards.
Minimum investment amount: 200,000 euros от EUR 300 000 (VAT exclusive).
Residence acquisition timeframe: 2 months.
Advantages: the residence permit holder can become a tax resident of Cyprus if he/ she spends at least 60 days per year in the country. Permanent residence permits for all family members. A single visit to Cyprus is required to submit your biometrics while all other components of the procedure can be completed remotely.
Panama
Panama has several programs for foreign investors wishing to legalize their stay in the country. The ‘Friendly Nations’ visa program is probably the most attractive one. Panama is a popular place of residence among retirees from the United States.
Minimum investment amount: US$ 100,000.
Residence acquisition timeframe: from 30 days to 6 months depending on the visa program.
Advantages: Panama is a comfortable and comparatively inexpensive country to live in. The economy is strong and Panama City is a typical western megalopolis.
Serbia
Serbia offers a large number of routes to legal residence in the country. The most popular ones are purchase of real property and company registration. There are no set limits for the price of property. The only condition is that it has to be livable. Registering a company costs a couple hundred euros in Serbia even though company maintenance costs are much more substantial.
Residence acquisition timeframe: from 3 weeks.
Advantages: an opportunity to live and do business in a European country that has free trade agreements with both the EU and China, among a number of other countries. Similarly to Panama, living in Serbia is both comfortable and comparatively inexpensive.
To conclude, Montenegro, Austria, Switzerland, Uruguay, and some other countries also offer residence-by-investment opportunities.
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