Imagine you have the freedom to travel visa-free to more than a hundred countries. And you don’t have to worry if you lose your current job in your homeland because you can easily start the application process to work in the country where your second citizenship has an origin. There are several reasons to get dual citizenship, from increased global mobility to personal safety up to corporate and personal tax optimization. Worldwide, a total of 30 countries offer programs such as citizenship by investment where you can become a citizen via a direct route of investment. In the following, we will share the top 5 countries where you can get such citizenship. Let’s check them out!
Grenada citizenship by investment program is one of the most prosperous programs for obtaining a dual passport. It’ was launched in 2013 and offers visa-free traveling to more than 153 countries which include Singapore, Russia, China, the UK and Europe’s Schengen Area. Grenada offers access to the E2 treaty investor visa for US citizens. There are two options for investing in the country – donate $150K, or purchase real estate worth $220K while maintaining the property for five years. The processing time usually takes three to four months.
Antigua and Barbuda
Antigua and Barbuda citizenship by investment program is one of the most competitive programs in the Caribbean and you can travel visa-free to 151 destinations. Citizens of Antigua and Barbuda can conduct international business, optimize taxes, open accounts with international banks, and register property. However, participants in the citizenship by investment program need to stay in the country for 5 days during the first 5 years. While this might not be convenient for many clients, it’s a rewarding experience that will help you understand the residents easier and discuss matters with officials. The minimum threshold of investment is around $100K up to $150K and the entire process might take two to six months in total. You can choose to invest in real estate or make a non-refundable contribution to the state fund. Additional administrative expenses can include due diligence fees which can take $5K up to $7K for each family member and $25K to $50K for the main applicant.
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St. Lucia has had a citizenship by investment program since 2016. Although the country is pretty new in this field, they have a straightforward process where an applicant needs to select one option to make an investment. The first option includes investment in an approved enterprise project with the creation of no less than three permanent jobs. This might require an investment of $3 million or if you are applying via a joint investment, the sum would be $6 million, $1 million for each individual. The second option includes investment in real estate with a minimum value of $300K. And this sum will be held for five years in the country.
The third option includes a non-refundable investment of $100K to NEF. As the main applicant, you can participate in several cases. You can pay the amount by yourself, participate with a spouse and invest $140K, participate with a spouse and two qualifying dependents and pay $150K where each qualifying dependent will pay $25K. In case there are additional qualifying dependents besides the main applicant, the spouse, and the two dependents, they will be required to pay $15K each. The fourth option is to be an added qualifying dependent to an already approved citizen and pay a donation of $35K. Let’s not forget the government processing fees which might take 1,000 USD.
St. Kitts and Nevis
St. Kitts and Nevis have one of the oldest citizenship by investment programs since it was established in 1984 and has been operating successfully ever since. If you decide to become a citizen in this country, you must be at least 18 years of age and you will be allowed to select between two investing options. You can either purchase a real estate with a minimum value of $200K – $400K or make a non-refundable contribution to the Sustainable Growth Fund of $150K. An additional amount of $20K will apply for each sibling and $10K on each additional qualifying dependent. There’s no minimum stay in the country and you can travel visa-free in 157 countries. There is also an option to obtain citizenship by descent for your future generations, grandkids, and great-grandkids.
The cost for one applicant in Vanuatu starts from $130K and it’s under the Vanuatu Development Support Program. The Vanuatu passport can be obtained most cheaply and simply in this country. Vanuatu has one of the most favorable tax systems and tax rates are the same for non-residents and residents. There is no tax on inheritance, income, wealth, export, or capital gains.