Click here are all the visa free countries. Because of this residence requirement, it takes approximately 15 months to obtain citizenship by investment in the country, the longest timeline of any CBI program. Second Passport by Investment Programs â Comparison Table. What will tie me back to the US of A? You make a donation (and now, more recently, you can also invest in real estate) and theyâll give you a passport in just 2-3 short months. As for Israeli citizens buying second passports in order to facilitate entry in to Arab countries, bare in mind that it is a very bad idea as Israeli citizens who enter what are defined by Israeli law as enemy countries, no matter what other passports they hold, commit a very serious offense. Before 1984 when St. Kitts and Nevis introduced its citizenship by investment program, economic citizenship did not exist. There are other options that are easier, less expensive, and less bureaucratic than obtaining a second passport by investment. Here are the 10 best second passports for 2016. Citizenship-by-Investment programs offer you the opportunity to legally acquire a new nationality and an alternative or second passport quickly and simply, without major disruption to your life. The biggest challenge for Vanuatu is its ever-changing requirements and unclear policies on what is essentially an honorary citizenship. That requirement isnât exactly tough, as you could knock it out with a month-long vacation to celebrate your new passport, but it is a requirement nonetheless. Detailed information and comparison of ALL citizenship-by-investment programs in 2021. why think of an option at the expense of portugal passport. The main applicant has to pay USD 40,000, spouse USD 20,000 and minor children USD 10,000. Please see my post Russian Second Passport Program for more information. The problem with this list is that none of the countries are places where you might actually want to live. However, we would suggest that anyone getting an economic citizenship consider getting a ârealâ second passport as well, and that other passport might also offer those benefits, thus making Grenada redundant. All second passports now list your country of birth. Some passport holders may not be welcome in other countries and find it difficult to get a visa for a holiday let alone employment. Citizenship requires you to set up or invest in to an active business in the country. Expect it to cost around $1.85 million âall in.â. At a price of USD 45,000 for an individual or about USD 85000 for an entire family, Comorosâ citizenship-by-investment program is the world's most affordable. We wonât be giving you a ranking system that you can skim over and then pick the number one option merely because itâs at the top of the list. Because this is a new program, very few second passports have been granted. Plus, the real estate option involves extra government fees. A travel document from Dominica gets you visa-free travel to only 91 countries, making it the 41st most valuable travel document. Itâs also a good option if youâre interested in doing business in the UAE or Russia. Other Caribbean programs have copied it, and the program has enjoyed a lot of success up until now. What if I have all of my documents from, for example, St. Kitts? And thatâs not something to be scared of. You can learn more about how to create a passport portfolio here. In addition to the donation, you must also invest â¬150,000 in Maltese government bonds â or occasionally Maltese stocks â for a period of five years. Here at Nomad Capitalist, we approach second citizenships from the mindset of an investor: you should never keep all your eggs in one basket. All future applicants will be subject to new requirements.Â. Coming in at $100,000, Dominica now has competition at this price point for solo applicants, but unlike other CBI programs, it does have a longer track record of being in operation to show for itself. Which is last? Obtaining residency is relatively straightforward, but naturalization is extremely tough to come by. These, and many other, questions need to be fully taken into consideration to determine the best citizenship by investment program for you. This is a middle-of-the-road passport with decent travel privileges. Their programme is still running and there is a fast track to get citizenship in 2 years, recovering the investment in 4 years since starting the process. Pre-covid, your total outlay for a citizenship for six people wouldâve been $185,000. Learn more about Vanuatuâs citizenship by investment program here. I am willing to invest 150000 euro for Malta citizenship. I have six member in my family. for more information. As perhaps the only person who covers the second citizenship scene to have actually been through three CBI processes personally (St. Lucia, Dominica â which I aborted, and Comoros), Iâm uniquely qualified to speak on this subject. Am holding Nigeria passport.am looking for citizenship by investment. If you are interested you can send us your application and weâll see how we can help you. While there have been rumors of economic passport programs popping up in random Pacific islands over the years, there is currently only one offering passports by investment â Vanuatu. Group 3 gets you access to 172 countries and is a passport from Belgium and Netherlands. So, many countries that offer citizenship by investment have lowered their prices to try and lure investors in. Thanks. Of course, this was at the behest of the United States who was looking to enforce itâs FATCA system. Or at least to me they are not. Finally, there are three programs that offer a passport in exchange for investment. Â That’s about $1.2 million. â¢ A family of 4 can also invest just $250,000 for 7 years (price reduced from $550,000; duration increased by 2 years). Â It’s also possible to get residency in Panama for free if you combine it with an investment in teak. There are two countries tied for this title: Dominica and St. Lucia. It does reject applicants and it has proven that itâs capable of revoking citizenships (unlike Cyprus). They wanted visa-free access to several countries in Latin America. There has been immense competition among the Caribbean CBI programs this year, since the global COVID-19 epidemic grounded most of the worldâs planes and left the tourism-dependent islands stranded and yearning for cash. Montenegro had a short-lived CBI program in the early 2000s and the government deliberated a long time before they brought it back, but they finally put the program back on the map. Dominica started its program back in the 1990s and has earned itself the title of offering the best value passport out there. Itâs definitely worth considering, even though itâs no longer the only game in town. St. Kitts has a few perks: it offers a rush option to get approval within 45 days if you have a valid reason to request such a thing, and as of recently it offers visa-free travel to Russia. Here are the 10 best second passports for 2016. Remember what we said about individual needs and wants? Then hurricanes hit in 2017 and St. Kitts rolled out a controversial Hurricane Relief Fund which slashed the price to $150,000 for a single applicant. Citizenship by Investment Immigration by Investment and Tax Residency Incorporate your Company International Bank Account Options Strategic Internationalization Credit card payments are collected by Incorporations Payments LLC with address at 26031 72nd Av NW, Suite O167, Stanwood, WA 98292 Grenadaâs most interesting features are visa-free access to Russia and China, as well as being the only Caribbean CBI to be part of the United States E-2 treaty program. Union of Comoros Citizenship by Investment. So, its passport applicants can take advantage of the following prices: â¢ A solo applicant can invest $250,000 for 5 years (price reduced from $500,000). Kind regards. Expect it to drop a few notches in 2015. Surprisingly, from this mess came their current citizenship offer. Unfortunately, Paraguay has no expedited options for naturalization (citizenship) and its residency requirements alone stand at 3-years. The citizenship by investment fees as follows Itâs recently taken solid steps in straightening out the program and making it more understandable to foreign investors, so it might still appeal to certain investors. However, it is not good for travel to most of the Americas or even Australia in its own backyard. Schedule a 30-minute consultation with Christian Reeves on your international tax or business matter. Each country that offers citizenship by investment has a clearly outlined program that has been authorized by its government. Take your pick. For many western citizens, a second passport wonât even be necessary. Such a business is expected to employ a significant number of people and generate taxable income. Caribbean Citizenship by Investment Programs, While many Chinese, Arabs, Russians, and Indians may prefer an EU passport, westerners realize that âTier Bâ passports (with good, but not great, travel privileges). After that, it takes one year to issue your Malta passport. Group 1 passports are those issued by the US, UK and Germany. If you want an EU passport, you are taking a bet by choosing Montenegro over the programs that really are guaranteed, like Malta. When you buy a Grenadian passport, youâll definitely be paying a premium. For a program that is described as a flagship of citizenship by investment. If youâre a Tier B or Tier C passport holder, youâre losing opportunities every day. But once the idea was out there, other countries followed suit with Dominica and Belize creating programs in the early 1990s and â for a brief time in the late 90s â Grenada, Peru, and Ireland too. Lots of red tape. Simple as that. Remember that this opportunity is focused on bringing business and jobs into Russia rather than cash from the sale of passports, so it functions differently from the others described here. Until recently, the donation option started at $250,000 and went up from there. If you were born in the US, the bank will see this on your second passport and list you as an American until you provide them proof youâve renounced your citizenship. Quite frankly, we would prefer Montenegro never join the EU and remain an independent country. Comoros is an Island nation in the Indian Ocean northwest of Madagascar. Update September 2020: Maltaâs program is reaching its cap of 1800 applicants, at which time the program will be renewed but with more stringent (and expensive) requirements. The problem is that a lot of those countries donât let you go to Asia and the Comoros passport offers visa-free travel to Asia. The second component is to make two separate investments. Letâs start with Europe. I’m getting tired of having to get visas with the St Kitts but it’s been pretty good for allot of places. As a second passport holder you will receive the same rights and protections of any Cyprus citizen. The St. Kitts passport is ranked 24th in the world in 2016. The sole reason for refusing to open a normal bank account was that they apparently did not regard such people as proper/valid citizens even though they owned expensive property on St Kitts. â¢ A couple can invest $250,000 for 6 years (price reduced from $535,000; duration increased by 1 year). Montenegro is at the top of, of EU candidate countries. Can you please help us and let us know which would be the best option for investment. A second passport has many benefits, but it doesnât allow you to cut out Uncle Sam. Instead of lowering its already low price, it has reduced the prices of the government bonds investment option â a less risky investment in a risk-averse world. You can also buy $350,000 worth of approved real estate, of which there are actually a few interesting options that effectively serve as zero-coupon bonds. Also I cannot find ‘russia’ in their list? Vanuatuâs citizenship by investment program here. And youâll be lucky to find a single family home for around $500,000â¦ more likely $800,000 to $1 million. Itâs not the specifics of any one program that matter the most when determining whether itâs the best citizenship by investment program. To be clear, economic citizenship is for people with a pressing need to have another passport now, be it for tax reasons, business, or travel. Alternatives to Citizenship by Investment, Unless youâre a US citizen in need of a second passport to reduce your tax obligations (these people donât have any alternatives but to. I rate Bulgaria #1 as the best second passport available because itâs one of the two programs where the investor is likely to see her investmentÂ again. Vanuatuâs passport is one of several economic citizenships that offer visa-free travel to Russia. If anyone tells you different, or they claim to have a guy who can âhook you up,â run the other way.Â, A Word of Advice to US Citizens on Second Passports. To put it another way, a family of four can obtain economic citizenship and second passports from Dominica for less than the cost of a single passport from St. Kitts. VERDICT: If youâre looking to purchase real estate to use as a summer home, Montenegro could be a good alternative passport to pick up alongside your investment. â¢ Each additional dependent can be added for $15,000 (price reduced from $25,000). And itâs the most expensive second passport. Its relatively low minimum investment, as well as easy access to the USA and the UK, make it a decent addition to a passport portfolio (something we help people create). Antiguaâs investment options are pretty standard fare for Caribbean passports and range from a $100,000 donation to the government (including a University Fund), a $400,000 real estate investment, or a $400,000 business investment (if made with a group of other applicants investing at least $5 million collectively.). That is, as long as youâre willing to pay a bit of a premium to buy the government-approved real estate and toss in a donation. Not all three are worth it. Uncle Sam and the IRS are way ahead of you. Currently, the fate of the scheme is set to be decided in September of 2020 and Moldova will not accept any new applications until September 2021, if they accept them at all. It reissued them with the holderâs place of birth and any other names by which he or she had been known. Dominica is the least expensive of the Caribbean passports. You donât know how long it will be available for the taking. And what I have learned from obtaining multiple citizenships by investment â for both myself and hundreds of clients â is that what is best for me will not necessarily be the best choice for someone else. There are also business investment options. A passport from Malta is the 8th most valuable travel document. Itâs recently taken solid steps in straightening out the program and making it more understandable to foreign investors, so it might still appeal to certain investors. In many cases, weâll often tell our client to get a cheaper economic citizenship and pair it with a European Golden Visa. “However, I would suggest that anyone getting an economic citizenship consider getting a ârealâ second passport as well, and that other passport might also offer those benefits, make Grenada redundant.”, Their programme is still running and there is a fast track to get citizenship in 2 years, recovering the investment in 4 years since starting the process. Due to the reckless sale of diplomatic passports to some shady characters, as of the 26th of June, 2017, citizens of Antigua and Barbuda need a visa to visit Canada. In more official terms, citizenship by investment is a process whereby wealthy individuals can obtain a second citizenship in a matter of months in exchange for an investment in or donation made to the country in question. please explain. Real estate in St. Kitts is overvalued. Antigua is the only Caribbean CBI to offer visa-free travel to South Africa, but thatâs about it. VERDICT: Now that St. Lucia has reduced its donation to a mere $100,000 (and has launched special 2020 pricing for government bonds), itâs a worthy competitor to Dominica for value-conscious westerners who want a passport further off the radar for its economic citizenship program. Malta has a great passport and gives you a lot of privileges, but that also means there are more strings attached. VERDICT: We like Vanuatu and see potential for tax-free residency seekers, but the passport program is overpriced and too confusing. Hereâs everything you [â¦] We personally understand your âwhy.â. Grenada offers visa-free access to China and is one of the best citizenships for E-2 investor visa access to the United States. For a bespoke plan, Each country that offers citizenship by investment has a clearly outlined program that has been, European Citizenship by Investment Programs, Unlike Maltaâs straightforward residence options (especially the. So long as youâre an American citizen, you must pay tax on your worldwide income. Citizenship-by-Investment Options. I did St Kitts as an interim while I worked the long road to a top 1 or 2 rated passport. The wealthy in these and other countries can afford the cost in exchange for the greatly increased travel benefits. Unfortunately, in November of 2014, Canada announced it would no longer allow St. Kitts citizens to enter without a visa. The cost of a Maltese passport is $1.57 million dollars plus fees. The requisites for each citizenship by investment program vary widely â you can spend $1 million or you can spend $100,000. 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