Citizenship by Investment (CBI) programs allow individuals to obtain citizenship in a country by making a financial investment, such as purchasing real estate, contributing to government funds, or investing in local businesses. In exchange, applicants receive citizenship, including a passport, which grants them benefits like visa-free travel, tax advantages, and access to new business opportunities.
Investment programs have become increasingly popular, with several countries now offering streamlined application processes. These programs were created because governments need foreign direct investment to boost their country’s economy. However, each program has its own requirements, benefits, and potential pitfalls, and prospective applicants must conduct thorough research and carefully evaluate their options before making any commitments.
In this comprehensive citizenship by investment comparison guide, we will be looking at some of the leading investment schemes around the world. We will provide valuable insights and analysis to help individuals make informed decisions.
Here’s what we’ll cover below:
- What is citizenship by investment?
- The benefits of citizenship by investment
- Citizenship by investment countries
- How to choose the top citizenship by investment program
- Best European citizenship by investment programs
- Best Caribbean Citizenship by Investment Programs
- Requirements for citizenship by investment programs
- Investment options for citizenship by investment programs
- Citizenship by Investment versus Residency by Investment
- Golden Visa Program Comparison
- Key Factors When Comparing Citizenship Programs
- The Importance of Citizenship Planning
What is citizenship by investment?
Citizenship by Investment (CBI) programs let individuals gain citizenship by making a financial investment, such as buying real estate, contributing to government funds, or investing in local businesses.
These programs offer an easy and straightforward path to citizenship and a potential second passport, which comes with benefits like visa-free travel, tax perks, and new business opportunities.
Citizenship by investment programs were designed to attract foreign investment and drive economic growth in the host countries. Many countries, particularly smaller or resource-limited ones, use CBI programs to raise government revenue and promote long-term economic development.
However, not all passports are created equal. Each passport varies in strength and desirability, so it’s essential to compare their strengths and find which qualities appeal to you. The same goes for the citizenship program, as each also has specific criteria set by a government through which an individual can apply.
Therefore, considering that not all investment schemes are the same, this can lead to confusion. Some offer direct citizenship through investment, while others provide residency by investment first, requiring you to go through naturalization to obtain citizenship later. Comparing citizenship programs and all that they offer is crucial.
The Benefits of Citizenship by Investment
Citizenship by investment programs offer several benefits to individuals and families. Here are some of the key advantages:
Travel freedom
Travel freedomMany citizenship by investment programs provide visa-free or visa-on-arrival access to a large number of countries, which can be particularly valuable for individuals from countries with more restrictive passports.
Business opportunities
Business opportunitiesCitizenship in a different country can provide better business opportunities, including easier access to international markets and better business environments.
Tax benefits
Tax benefitsSome countries offer favorable tax regimes for new citizens who move to their country, which can be beneficial for personal and corporate tax planning.
Personal security
Personal securityAcquiring citizenship in a politically stable country can provide a safe haven in times of political unrest or instability in one’s home country.
Some individuals seek citizenship by investment to ensure personal and family safety, particularly in regions with high crime rates or social unrest.
Quality of life
Quality of lifeMany countries offering citizenship by investment have high standards of living, great healthcare, and top-tier educational institutions. These benefits can significantly enhance the quality of life for individuals and their families, providing access to better services and a cleaner, more organized living environment.
Global mobility
Global mobilityCitizenship by investment often comes with the right to reside not only in the new country but sometimes in neighboring countries or regions as well. For instance, EU citizenship allows residency in any EU member state. This can be particularly advantageous for those seeking flexibility in their living arrangements and the ability to relocate as needed.
Financial flexibility
Financial flexibilityWith citizenship in a new country, individuals gain easier access to international banking and diverse investment opportunities. This can lead to better management and growth of assets, taking advantage of favorable legal and financial jurisdictions. Additionally, it provides an effective strategy for asset protection by diversifying holdings across multiple countries.
Family inclusion
Family inclusionMost citizenship by investment programs permit the main applicant to include family members, such as spouses, children, and sometimes parents and siblings. This means the entire family can benefit from improved travel freedom, security, and quality of life, ensuring that loved ones are taken care of and have access to the same opportunities.
Citizenship by Investment Countries
Citizenship by Investment (CBI) programs allow individuals to obtain citizenship in a country by making a significant investment in that country. Here are some countries that offer CBI programs:
1. Caribbean Nations:
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- Antigua and Barbuda: Citizenship through a minimum investment in real estate, a contribution to the National Development Fund, or a business investment.
- Dominica: Citizenship through a donation to the Economic Diversification Fund or an investment in pre-approved real estate.
- Grenada: Citizenship through a contribution to the National Transformation Fund or an investment in real estate.
- Saint Kitts and Nevis: Citizenship through a contribution to the Sustainable Growth Fund or an investment in real estate.
- Saint Lucia: Citizenship through a donation to the National Economic Fund, an investment in real estate, or government bonds.
2. European Nations:
Malta: Citizenship through the Malta Individual Investor Programme, which involves a contribution to the National Development and Social Fund, an investment in government-approved financial instruments, and a property purchase or lease.- Turkey: Turkey is a transcontinental country, with a small part of its territory in southeastern Europe. The Turkish citizenship by investment program requires a real estate purchase, a bank deposit, an investment in government bonds, or a Turkish business. Applicants must hold their investments for at least three years to maintain eligibility.
- North Macedonia: The North Macedonia Citizenship by Investment Program involves a minimum investment in a government-approved private investment fund. This investment must contribute to the country’s economic development, and applicants can obtain citizenship after completing the required financial commitment.
Malta: Citizenship through the Malta Individual Investor Programme, which involves a contribution to the National Development and Social Fund, an investment in government-approved financial instruments, and a property purchase or lease.3. Vanuatu:
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- Citizenship through a donation to the Development Support Program.
These programs vary in their requirements, benefits, and processing times, and we’ll talk about them in more detail in the sections below.
How to Choose the Top Citizenship by Investment Program
Your choice of citizenship by investment program will depend entirely on your circumstances and objectives. However, some investment programs are more popular than others. We’ve compiled a comparison table for citizenship by investment broken down into relevant categories of some of the most successful programs for you to compare.
Investment options and cost
Country | Minimum Investment [Single Applicant] | Minimum Investment [Family of Four] | Type of Investment | Application Fees | Family Fees (Per Dependent) | Income/Savings Requirements |
 Antigua and Barbuda | $230,000 | $230,000 | Contribution to state fund, Real estate investment, Donation to University of the West Indies Fund, Business investment | Application Fee - $30,000 for a family of up to four. Due diligence fee - $2,000 to $7,500 per applicant | +$10,000 for each additional applicant | None |
 Austria | €2 million | Contribution to government fund, Investment in a joint venture, Venture capital investment, Invest in an innovative business or industry considered "first priority" | €800 | €800 | None | |
 Cambodia | $245,000 | Government contribution, Real estate investment | $85,000 | $5,000 | None | |
 Dominica | $200,000 | $250,000 | Government contribution, Real estate investment | Application Fee - $1,000 per application Due diligence fee - $4,000 to $7,500 per applicant | $4,000 due diligence fee for each family member aged 16 or over. | None |
 Egypt | $250,000 | Government contribution, Real estate investment, Bank deposit, Business investment | $10,000 | $10,000 | None | |
 Grenada | $235,000 | $235,000 | Government contribution, Real estate investment | Application Fee - $2,000 to $3,000 per application Due diligence fee - $5,000 per applicant | $5,000 due diligence fee for each family member aged 17 and over | None |
 Jordan | $750,000 | Real estate investment, Purchase treasury bonds, Bank deposit, Purchase company shares, Investment project with job creation | Not listed | Not listed | None | |
 Malta | €600,000 | Government contribution, donation, and real estate purchase or lease | €15,000 due diligence fees | €10,000 per dependent aged 13 or over | None | |
 Moldova | €100,000 | Government contribution | €46,000 | €41,000 to €46,000 | None | |
 North Macedonia | €200,000 | Investment in a private equity fund, Business investment with job creation | €20,000 | €10,000 to €20,000 | None | |
 St. Kitts and Nevis | $250,000 | $250,000 | Government contribution, Real estate investment, Investment in Public Benefit Projects | Application Fee - $500 per application Due diligence fee - $7,500 to $10,000 per applicant | $7,500 due diligence fee for each family member | None |
 St. Lucia | $240,000 | $240,000 | Government contribution, Real estate investment, Business Investment | Application Fee - $2,000 for a family of up to four - +$1,000 for each additional applicant Due diligence fee - $5,000 to $8,000 per applicant | Application fee: - +$1,000 for each additional applicant | None |
 Turkey | $400,000 | Government contribution, Real estate investment, Purchase government bonds, Capital investment, Business investment with job creation | $2,000 | $1,500 | None | |
 Vanuatu | $130,000 | $130,000 | Government contribution | $5,000 due diligence fee | $5,000 due diligence fee | $250,000 |
Required documentation and prerequisites
Country | Character Requirements | Mandatory Visit | Stay Requirement | Minimum Investment Period | Language Proficiency Requirement |
Antigua and Barbuda | Over 18, Good health, Clean criminal record, Provide bank statements and employer references, Not from a prohibited country | No | Five days within five years | Five years (not applicable for cheapest investment) | No |
Austria | Over 18, A non-EU national, Good health, Clean criminal record, Not from a prohibited country, Proof of business track record, Pass a citizenship test | Yes | Yes | Not listed | Yes |
Cambodia | Over 18, Good health, Clean criminal record, Not from a prohibited country, Pass a citizenship test | Yes | No | Five Years | No |
Dominica | Over 18, Good health, Clean criminal record, Not from a prohibited country | No | No | three years (not applicable for cheapest investment) | No |
Egypt | Over 18, Good health, Clean criminal record, Not from a prohibited country | Yes | No | Three years (Not applicable for cheapest investment) | No |
Grenada | Over 18, Good health, Clean criminal record, Not from a prohibited country | No | No | Five years (not applicable for cheapest investment) | No |
Jordan | Over 18, Good health, Clean criminal record, Proof of adequate funds | No | No | Three Years | No |
Malta | Over 18, A non-EU national, Good health, Clean criminal record, Proof of adequate funds, Not from a prohibited country | Yes | No | Five Years | No |
Moldova | Over 18, Good health, Clean criminal record, Not have been denied entry to a Moldova visa-free country | Yes | No | N/A | No |
North Macedonia | Over 18, Good health, Clean criminal record, Proof of adequate funds | Yes | No | N/A | No |
St. Kitts and Nevis | Over 18, Good health, Clean criminal record, Not from a prohibited country | No | No | Five years (not applicable for cheapest investment) | No |
St. Lucia | Over 18, Good health, Clean criminal record, Not from a prohibited country | No | No | Five years (not applicable for cheapest investment) | No |
Turkey | Over 18, Good health, Clean criminal record, Not from a prohibited country | No | No | Three Years | No |
Vanuatu | Over 18 and under 65, Good health, Clean criminal record, Not from a prohibited country | No | No | N/A | No |
Details and benefits
Country | Time until Citizenship | Taxes Advantages | Visa-free Access | GPI Ranking | Dual Citizenship |
Antigua and Barbuda | Six months | No capital gains, inheritance, wealth, or worldwide income taxes, Tax breaks on qualifying companies’ profits for up to 20 years | 150 countries | 59th | Yes |
Austria | 24 to 36 months | No inheritance or wealth tax | 174 countries | 19th | No |
Cambodia | Three to four months | No inheritance or wealth tax | 88 countries | 151st | Yes |
Dominica | Six to nine months | No capital gains, inheritance, wealth, or worldwide income taxes | 146 countries | 78th | Yes |
Egypt | Six to nine months | No inheritance or wealth tax | 82 countries | 142nd | Yes |
Grenada | Nine months | No capital gains, inheritance, wealth, or worldwide income taxes | 147 countries | 74th | Yes |
Jordan | Three to six months | No capital gains, inheritance, wealth, or worldwide income taxes | 81 countries | 145th | Yes |
Malta | 12 months | No capital gains, inheritance, or wealth taxes | 172 countries | 34th | Yes |
Moldova | Three to four months | N/A | 130 countries | 81st | Yes |
North Macedonia | Two to five months | A flat ten percent tax rate | 139 countries | 79th | Yes |
St. Kitts and Nevis | Four to six months | No capital gains, inheritance, wealth, or worldwide income taxes | 153 countries | 53rd | Yes |
St. Lucia | 10 to 12 months | No capital gains, inheritance, wealth, or worldwide income taxes, Annual fee tax regime for corporations | 148 countries | 75th | Yes |
Turkey | Three to four months | No worldwide income or wealth taxes | 129 countries | 94th | Yes |
Vanuatu | Two months | Zero taxes | 112 countries | 102nd | Yes |
Unique selling point
Country | USP |
Antigua and Barbuda | Cheapest CBI program for a family of four, with a total investment of $230,000 to $245,000 |
Austria | Safest CBI country, ranking fifth overall in the Global Peace Index |
Cambodia | Three to four months - No inheritance or wealth tax - 88 countries - 151st - Yes |
Dominica | Cheapest CBI program for a single applicant, with a total investment of $110,000 |
Egypt | The only African CBI program |
Grenada | Only Caribbean CBI country offering the change to settle in the USA through the US E-2 Visa Program |
Jordan | The cheapest real estate by square meter of all countries offering citizenship programs |
Malta | The cheapest and fastest EU citizenship program |
Moldova | The cheapest European citizenship program for a single applicant and family |
North Macedonia | The lowest income tax of any European country offering CBI, with a flat tax rate of ten percent |
St. Kitts and Nevis | The highest ranking CBI Caribbean passport of Caribbean countries on the Global Passport Index |
St. Lucia | Among the lowest minimum investment required in real estate at $200,000 with a cheap real estate market compared to other Caribbean CBI countries |
Turkey | No prerequisites for investing in pre-approved real estate, and lower cost of living than the rest of Europe |
Vanuatu | The fastest CBI program available with passports issued within 60 days, and no additional fees for fast-track processing |
Best European Citizenship by Investment Programs
Maltese Exceptional Investor Naturalisation (MEIN)
The Maltese Exceptional Investor Naturalisation (MEIN), often called Malta’s citizenship by investment program, allows non-EU nationals to gain a Maltese passport through naturalization.
Applicants must invest €600,000 or €750,000 in Malta’s economy, buy property worth at least €700,000 or lease for €16,000 annually for five years, and donate €10,000. They must also pass strict due diligence checks. Successful applicants gain EU citizenship, granting the right to live, work, and study across the EU.
Take a look at our Malta Citizenship Program Ultimate Guide
Best Caribbean Citizenship by Investment Programs
The Global Citizen Solutions and Caribbean Citizenship by Investment Comparison Guide compares top-rated Caribbean countries offering fast and affordable citizenship through investment.
Caribbean passports provide visa-free access to over 140 countries and significant tax advantages, such as no taxes on worldwide income, capital gains, or inheritance. Here are some of the most popular programs.
Dominica citizenship by investment
The Caribbean island of Dominica offers one of the cheapest and fastest routes to invest in the Caribbean and get a passport by investment. The Dominica citizenship by investment requires a minimum investment of $200,000. This allows you and your immediate family to obtain a second passport in six to nine months. Dominica’s passport ranking is 78th in the world, and the passport offers visa-free travel to over 140 destinations, with visa-free countries including those in Europe’s Schengen Area.
Take a look at our Dominica Citizenship Ultimate Guide by local experts
Antigua and Barbuda citizenship by investment
The Antigua and Barbuda citizenship by investment program offers a second passport with enhanced visa-free travel to qualifying investors of this Caribbean island. There are three investment options:
- Donating to the National Development Fund
- Buying property
- Investing in a business
As with other Caribbean CBI programs, processing and due diligence fees apply to any type of investment. Antigua and Barbuda is attractive because it ranks as the safest country in the Caribbean for relocation. It consists of three islands with crystal clear blue waters, stunning scenery, and a relaxed pace of life.
St. Kitts citizenship by investment
Launched in 1984, the St Kitts and Nevis Citizenship by Investment program is the longest-running of all Caribbean CBIs.
For an investment of $250,000, investors and their families can obtain a Caribbean passport in just four to six months. Fast, reliable, and relatively affordable, this immigration scheme has been a true success, greatly contributing to boosting the country’s economy.
Investment options for this program include:
- Donating to the Sustainable Island State Contribution (formally the Sustainable Growth Fund)
- Investing in an approved real estate project
- Contributing to an Approved Public Benefit Project
St. Lucia citizenship by investment
As a tropical Eastern Caribbean island with a high-earning population, exemplary safety records, and various landscapes to soak in, St. Lucia has everything, including the competitive St Lucia citizenship by investment program. The application process is straightforward and quick, and citizenship takes just 10 to 12 months.
The requirements of this Caribbean island include a clean health record, paying government fees, and satisfying one of the following investments:
- Donating to the St. Lucia National Economic Fund
- Purchasing government bonds
- Investing in real estate projects
- Investment in enterprises
Take a look at our St. Lucia Citizenship Ultimate Guide by local experts
Requirements for Citizenship by Investment Programs
Countries that offer citizenship through investing each have different requirements that foreign investors must fulfill to acquire citizenship. For example, some programs request medical exams, which require candidates to prove they are in good health; others do not.
The vast majority of countries do, however, demand the following:
- That you are over 18 years old
- That you have a clean criminal background
- That you have a good character
- That your investment funds come from a legal source
All the countries with citizenship by investment require passing the Due Diligence check.
Investment Options for Citizenship by Investment Programs
Citizenship by investment programs offer various types of investments that individuals can make to qualify for citizenship. The specific investment options vary depending on the country and its economic priorities.
Here are some common types of investments available in citizenship and residence programs around the world:
Transfer of funds or purchasing government bonds
One of the fastest ways to become a citizen through investing is through a transfer of funds, purchasing government bonds, or making a bank deposit. The benefit of government bonds and bank deposits is that if your application is unsuccessful, your money is refunded.
Real estate investment
Purchasing real estate can, in some cases, be more costly and involve more paperwork and bureaucracy. However, at the same time, depending on which country you choose to invest in, an investment in real estate can bring considerable returns.
Donation
You can acquire a second passport in exchange for a charitable qualifying donation to an economic development fund. This is the cheapest and fastest option to obtain new citizenship. However, the contributions are non-refundable and do not provide investment returns.
Establishing a business
Several citizenship by investment programs provide dual citizenship to investors who create new businesses or invest in existing companies in the country. This could entail investing a minimum amount into the business or creating jobs for citizens and residents.
Citizenship by Investment versus Residency by Investment
Residency by investment programs allow you to obtain a residence permit through investment, while citizenship by investment grants full citizenship, including a passport with no residency requirements as part of the criteria to receive citizenship.
In Europe, particularly, residence programs are known as Golden Visa programs. Therefore, golden visas are not the same as citizenship by investment. A golden visa is a residence permit that can eventually lead to citizenship through naturalization, provided that you fulfill the investment and residence requirements first.
Golden Visa Program Comparison
There are several Golden Visa programs available in Europe and countries worldwide. The primary differences between residence programs are the investment requirement, length of residency, processing time, and residency requirements.
Portugal Golden Visa
The Portugal Golden Visa investment amount starts at €250,000. Currently, the program’s investment options are:
- Invest a minimum of €250,000 in preserving Portugal’s historical sites.
- Invest at least €500,000 in qualifying Portuguese investment funds.
- Establish a business that creates at least 10 jobs for local residents.
- Set up a business that creates a minimum of 5 full-time jobs for Portuguese citizens.
Eligible family members include the applicant’s spouse or legal partner, unmarried children under 18 or in full-time education, and dependent parents of the applicant and spouse under 65. There is a residency requirement of seven days per year, and applicants can apply for permanent residency or citizenship after five years.
Greece Golden Visa
The Greece Golden Visa is a permanent visa investment program starting at €250,000 and offers several investment options, including:
- Minimum of €800,000 real estate investment for regions including the entire Administrative Region of Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100 people
- Minimum of €400,000 real estate investment for the rest of Greece
- Investment threshold of €250,000 for properties which have been converted from commercial to residential use
- Real estate investment threshold of €250,000 for properties of historical or cultural significance that the investor has fully restored or reconstructed
- Capital contribution to an investment fund (minimum of €800,000)
- Purchasing government bonds (minimum of €800,000)
Eligible family members include the applicant’s spouse or legal partner, unmarried children under 21, and dependent parents and grandparents of the applicant and spouse. There is no residency requirement. Applicants can remove conditional permanent residency after five years and apply for citizenship after seven years of residency.
Malta Permanent Residence Program
The Malta Residency by Investment, also known as the Malta Permanent Residence Program, is an investment program starting at €110,000. Other options include:
- A minimum investment of €300,000 (for properties in the south of Malta or Gozo) or €350,000 (for properties in other areas).
- A contribution of at least €150,000 in government bonds, held for at least 5 years.
- A €30,000 contribution to the National Development and Social Fund (NDSF).
- Applicants are required to make a financial investment in Malta, typically including the bond and real estate investments mentioned above.
Eligible family members include the applicant’s spouse or legal partner, children under 18 or over 18 if largely dependent, and dependent parents and grandparents of the applicant and spouse.
There is no residency requirement. Applicants can remove conditional permanent residency after five years and apply for citizenship after seven years of residency.
Spain Golden Visa
The Spain Golden Visa is an investment program starting at €500,000 and offers several investment options, including:
- A minimum investment of €2 million in Spanish public debt securities.
- At least €1 million in a Spanish business or company.
- A minimum deposit of €1 million in a Spanish bank.
Eligible family members include the applicant’s spouse or legal partner, unmarried children under 18 and over 18 if financially dependent, and dependent parents.
There is no residency requirement. Applicants can remove conditional permanent residency after five years and apply for citizenship after ten years of residency.
Italy Golden Visa
The Italy Golden Visa is an investment program starting at €250,000 and offers several investment options, including:
- A minimum donation of €1 million to a charity or project that benefits Italy.
- A minimum investment of €2 million in Italian government bonds.
- At least €500,000 in an Italian startup or business.
- A minimum of €500,000 is invested in a company based in Italy.
Eligible family members include the applicant’s spouse or legal partner, children under 18 and over 18 if financially dependent, and dependent parents.
There is no residency requirement. Applicants can remove conditional permanent residency after five years and apply for citizenship after ten years of residency.
Cyprus Permanent Residence Program
The Cyprus Permanent Residence Program is an investment program granting a permanent residence permit through a €300,000 investment. Applicants have the option to:
- A minimum of €300,000 in property investment.
- At least €300,000 in a Cyprus-approved investment fund.
- A minimum of €300,000 is invested in Cypriot company shares that employ at least five people.
Eligible family members include the applicant’s spouse or legal partner, unmarried children under 18 or between 18 and 25 if in full-time education and financially dependent, and dependent parents of the applicant and spouse.
There is no residency requirement. Applicants can remove conditional permanent residency after five years and apply for citizenship after seven years of residency.
Serbia’s residency by investment
Serbia’s residency by investment program offers residency in the country through real estate purchases with no investment requirement, but applicants can only buy certain types of real estate:
- Apartment
- residential building
- business premises and business buildings, if they perform business activities in.
The minimum stay requirement to maintain residency status in Serbia is 183 days per year, and the primary applicant may include family members.
Hungary golden visa
The Hungary golden visa allows non-EU and non-EEA citizens to obtain long-term residency in Hungary through a minimum investment of €250,000, including:
- Invest €250,000 in a state-approved real estate investment fund
- Invest €500,000 to purchase residential real estate. This investment option will only be available starting 1 January 2025. The
- Donate €1 million as a non-refundable amount to a higher education institution.
There are no minimum stay requirements, which allows investors to reside outside Hungary while holding the permit. Applicants can also include family members.
Latvia Golden Visa
The Latvia Golden Visa program is ideal for investors, entrepreneurs, and high-net-worth individuals with an investment starting at €50,000. Other options include:
- Minimum investment of €250,000 in property
- Invest €50,000 in a capital company with fewer than 50 employees and an annual budget under €10 million
- Deposit a minimum of €280,000 in a Latvian bank for at least five years
- Purchase government bonds for a minimum of €250,000.
Eligible applicants can include their spouse, children under 18, and dependents under 24 in education. Residency requires spending at least one day a year in Latvia, and after five years, applicants can apply for permanent residency or citizenship if further requirements are met.
UAE Golden Visa
The UAE Golden Visa is a long-term investment program starting at $545,000 for real estate investment. There is also the option of:
- Investing in a business
- Depositing funds in a national bank
- Paying taxes
Eligible candidates for the UAE Golden Visa include outstanding professionals in specific fields, such as medicine, innovation, engineering, and culture.
Applicants can include their spouse, children, parents, and domestic workers in their Golden Visa application. There is no residency requirement. UAE citizenship is typically granted through exceptional merit or 30 years of residency.
US EB-5 Visa Program
The US EB-5 Visa Program is an investment program leading to permanent residency (Green Card). Foreign nationals must invest at least $1.050 million in a business that creates ten full-time jobs or $800,000 if investing in a Targeted Employment Area (an area of high unemployment).
Eligible family members include the applicant’s spouse and children under 21. Applicants are not permitted to spend more than 12 months abroad. They can remove conditional Green Card status after two years and apply for citizenship after five years of residency.
Country | Residency Type | Minimum Investment | Processing Time | Residency Requirements | Mandatory Holding Period |
 Portugal | Temporary | €250,000 | 9 to 12 months | Seven days annually | Five years |
 Greece | Permanent | €250,000 | 6 to 8 weeks | No | Five years |
 Malta | Permanent | €110,000 | 4 to 6 months | No | Five years |
 Spain | Temporary | €500,000 | 30 days | No | Five years |
 Italy | Temporary | €250,000 | 3 to 4 months | No | Five years |
 Cyprus | Permanent | €300,000 | 2 months | Visit every two years | Five years |
 United Arab Emirates | Temporary | $545,000 | 30 days | No | Five to ten years |
 United States | Temporary | $800,000 | 3 to 6 months | No more than 12 months abroad | Five years |
 Serbia | Temporary | No investment requirements | 30 days | 183 days per year | Three years |
 Latvia | Temporary | €50,000 | 2 to 4 months | Once a year | Five years |
 Hungary | Temporary | €250,000 | 90 days | No | Five years |
What Golden Visa to Pick? Compare on our Ultimate Golden Visa Guide
Key Factors When Comparing Citizenship Programs
With various citizenship-by-investment options available, the most suitable program for you depends on your individual goals and how well they resonate with the particular features offered by each option. Here are some factors to consider when comparing citizenship by investment programs:
Investment options
Investment options outlined in the CBI Index Report significantly impact applicants’ financial decisions. Options like real estate, government bonds, or business ventures require higher capital and involve potential financial risks but may offer returns on investment. Non-refundable contributions, while cheaper and simpler, do not involve future financial obligations and are a direct route to second citizenship.
Applicants should align their choice with financial goals—low-risk options for security or higher-risk investments for greater returns.
Tax planning
Tax payments are critical for managing financial well-being and long-term wealth. Citizenship programs come with varying tax obligations, including income, capital gains, and inheritance taxes.
Understanding the target country’s tax rules and how they affect current residency ensures informed decisions to optimize tax burdens and protect wealth.
Enhanced mobility
Many travelers find it frustrating to need visas for numerous destinations. The Global Passport Index shows the visa-free access each passport offers. By evaluating these travel privileges, applicants can choose programs that align with their travel needs, whether for business or leisure. Understanding visa requirements and restrictions helps make decisions that suit personal travel preferences and lifestyles.
Citizenship insurance
Citizenship insurance, or dual citizenship, is a key consideration for many CBI applicants. It offers protection against political, economic, or social instability in one’s home country. With dual citizenship, individuals retain the right to live, work, and seek assistance in another country, providing an extra layer of security in uncertain times.
Family security
Acquiring second citizenship through investment often impacts the individual and their family, including spouses, children, and dependents. It’s important to consider how each program benefits the entire family, including access to education, healthcare, employment, and social security. These factors directly influence family members’ quality of life and future prospects.
The Importance of Citizenship Planning
Citizenship by investment requires planning and resources but offers major benefits like lower taxes, consular support, and security for your family. The right program provides safety, freedom, and financial opportunities. Planning carefully ensures you maximize these advantages.
There are some key questions to bear in mind before you even begin to consider which citizenship-by-investment program you should pursue are the following:
- What am I looking to get out of my investment?
- How much money do I want to invest in acquiring citizenship?
- Are financial dependents restricted to a spouse and children?
- Do I care more about obtaining a powerful passport, or am I okay with a reasonably average-ranking passport that provides other perks?
- Do I want to relocate to the country I invest in?
- How much time can I set aside to dedicate to the investment for a business application?
- Do I want to do this on my own or enlist the help of a qualified migration specialist?
These are just some of the questions you should ask yourself when comparing citizenship and residency programs. It is also worth thinking about the benefits to family members.
A residency by investment program may also be better suited to you, so research the residency by investment options available. An important piece of advice is to take your time. If you ever feel conceded, conflicted, or undecided, research all the possibilities and, if needed, ask a qualified industry expert.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions about Comparing Citizenship by Investment
Which is the best country for citizenship by investment?
The best country for citizenship by investment often depends on individual preferences and goals. However, countries like Malta, St. Kitts and Nevis, and Portugal are frequently highlighted due to their attractive investment options, strong passport benefits, and favorable living conditions. Each country offers unique advantages, so it’s essential to consider factors like travel freedom, tax implications, and lifestyle when choosing.
How long does it take to get citizenship by investment?
The length of the entire process for citizenship (CBI) programs depends on the country you apply to. The Vanuatu citizenship by investment program has an application processing time of 60 days, whereas the general timeframe for most CBI programs is three to six months, provided that you fulfill the foreign direct investment criteria and due diligence checks. The investment route you choose can also affect the length of the application process. Economic contributions to national developments are typically the fastest investments.
Which programs offer the highest investment returns?
Real estate purchases in countries in the European Union, such as Portugal and Greece, have offered high returns in the past, particularly on rental properties in popular vacation spots. Caribbean countries with low real estate prices, like Dominica and St. Lucia, present promising opportunities for substantial returns in the near future.
What is citizenship by investment?
Citizenship by investment is a process by which an individual obtains a second citizenship and a second passport by investing in the country’s economy. Depending on the country, there are usually specific requirements for the investments you can make and different benefits associated with the passport you acquire. Families can also benefit from the program, as an investor’s family can be included in the application.
Which countries offer citizenship by investment?
Countries that offer citizenship by investment include St. Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada, Malta, Portugal, Turkey, and Vanuatu. Each country has specific investment requirements, such as real estate purchases, government contributions, or business investments, providing pathways to citizenship for eligible applicants.
Do you need to relocate to get citizenship?
No, relocation is not always necessary to obtain citizenship through investment. Many citizenship by investment programs allow applicants to acquire citizenship by making financial contributions, such as real estate purchases or investments, without requiring them to live in the country. However, some programs may have residency requirements that must be fulfilled.
Do different citizenship by investment programs have language proficiency requirements?
Most CBI programs waive the necessity to demonstrate language proficiency or cultural integration. Austria’s program requires applicants pursuing citizenship by investing to be fluent in German and have knowledge of the country’s traditions and values. Caribbean nations offering CBI programs do not have language or cultural integration prerequisites.
What are the processing times for citizenship by investment?
Processing times for citizenship by investment programs vary by country. Typically, they range from 3 to 6 months. Factors such as the thoroughness of the application, due diligence, and government processing times influence the duration.
Does Portugal offer citizenship by investment?
Foreigners can obtain residency by investment in Portugal through the Golden Visa Program. The scheme allows non-EU nationals to get permanent residency status provided they make a significant investment in the country. After five years, they can apply for Portuguese citizenship.
What are the requirements for citizenship by investment programs?
Requirements for citizenship by investment programs include a minimum financial contribution (e.g., $100,000–$2 million) to a government fund, real estate, or business. Applicants must pass due diligence checks, provide proof of clean criminal records, and meet age and health criteria. Some programs may require residency or language skills.
What are the benefits of citizenship by investment programs in the Caribbean compared to European programs?
Caribbean citizenship by investment programs offer faster processing times (3–6 months) and lower costs ($100,000–$200,000). They provide visa-free access to over 140 countries and tax advantages. European programs, while more expensive (up to €2 million), grant access to the EU, enhanced global mobility, and robust residency rights.
Is citizenship by investment a good idea?
Citizenship by investment can be a good idea for those seeking global mobility, tax benefits, or a backup plan for political or economic instability. It provides visa-free travel, business opportunities, and enhanced lifestyle options. However, costs, due diligence, and individual goals should be carefully considered.
