Your Passport to the World: Investing in Second Citizenship

This year could be the time you expand your horizons with a second passport through investment. Picture yourself with the freedom to travel, live, and work in a sun-kissed Caribbean island or amidst the rich cultures of Europe. The choice is yours, and the possibilities are endless. Let’s explore the globe together and unlock the door to your future!

Investing for citizenship and global access

Citizenship by investment means you can acquire a new passport abroad, which is possible if you invest money in a particular country’s economy.

Western nations that have such programs give out special passports fast and keep the matter private. These passports are popular with business people and elite travelers who don’t want to wait for visas.

Beyond travel, citizenship abroad breaks through home nation limitations, broadening your business, educational, and career prospects. It makes banking and investing easier, plus helps protect your wealth and keep your family safe.

You will get your second passport in a matter of just one and a half months if you agree to spend a reasonable amount on it. Say, you can start with as little as USD 100,000 for a passport from a Caribbean nation. These deals are getting better because of competition. But if you want a passport from an EU state, it will cost more because of a higher status. Price isn’t the only thing that’s different, though.

As countries keep amending their CIPs, making them cheaper and faster and adding extra visa-free destinations for CBI holders, the choice is getting more complicated by the hour. 

Against this background, your dream of becoming a global citizen is closer than you think! At International Wealth, we keep up with all the newest ways for you to become a citizen of an EU country or a tropical Caribbean nation. Don’t worry about the multiple choices as we’ll guide you to the best one. 

The truth behind CBI: opportunities and obstacles

It is high time we discuss the programs that let you invest in a country to become a citizen. First, be careful: selling passports is big business nowadays, and where there’s money, there are often scams. So, watch out for those.

Also, even if you’re careful and don’t get scammed, you might still pick the wrong way to get your cherished CBI. Take Bulgaria, for example. They, and some other jurisdictions in Europe, will permit you to live there if you invest. But remember, simply residing in a particular state doesn’t mean you’re a full citizen.

When considering a particular CIP, make sure it gives you full citizenship rights. Here’s what a worthy program should boast:

1. First, getting your new citizenship needs to be fast, usually 3 to 6 months. Malta is different, though: here, it might take a year or more.
2. Second, the program should be open to anyone who has the money and no criminal past. Don’t get fooled by offers that fail to deliver what they promise, like the ones that claim you can get Austrian citizenship by investment. Actually, Austria only gives citizenship for outstanding achievements, which really depends on how well it gets along with your home state.
3. Third, everything about the program should be clear and legal. There must be laws in place that explain how it works, and getting citizenship should be as transparent as making a business deal. Stay away from any scheme that doesn’t stipulate directly how you can get citizenship.

Citizenship for sale? A closer look at the world’s premier CIPs

Keeping these points in mind, let’s look at some popular CIPs out there.

1. Grenada’s CIP was stopped in the 2000s, but it came back 10 years later with great options. It’s a quick and affordable way to become a citizen of the nation, known for its shiny reputation and benefits like no-visa trips to China, and a chance at the US E-2 visa (though not for everyone). Thereunder, you can either make a non-returnable donation of at least USD 150,000 or put your money into property starting at USD 220,000. As for the real estate in question, you are free to sell it in 5 years but will still keep your Grenadian passport. The US praised Grenada’s CIP as the top program in the Caribbean in 2021 for its thorough checks and state-of-the-art management.
2. St Kitts and Nevis launched its first citizenship-by-investment initiative in 1984, and other Caribbean countries have followed suit with small changes. The big selling point of this scheme is how quickly you can become a citizen. You have the option to either donate USD 250,000 to the government without getting it back or buy real estate worth at least USD 400,000. The real estate option could make you money if you sell or rent it out later on. The initiative’s perks include getting your passport in just 45 to 50 days, being able to visit the Schengen area and the UK without a visa, and not paying income tax if you live in St Kitts and Nevis for more than half a year. 
3. Vanuatu’s CBI is unique because you have the right to invest with digital money like Bitcoin. The only way to join is by donating USD 145,000 that you can’t get back to the corresponding government fund. It takes around 2 months to obtain your citizenship in Vanuatu, and you may pay in different kinds of money. With a Vanuatu passport, you will enjoy the right to travel without a visa or get one when you arrive in different destinations worldwide, and you don’t have to pay PIT on the money you earn. Right now, if you’re from Vanuatu, you need a visa to enter the Schengen area, but they’re hoping to change that by February 2025.

You are also welcome to consider CBI opportunities offered by Dominica, St Lucia, Antigua and Barbuda, Malta, Turkey, and Jordan.

With dual citizenship, the world is full of multiple chances and opportunities. You can travel using your second passport, buy property abroad, open accounts in overseas banks, and live in the jurisdiction whose passport you’ve obtained.

International Wealth is here to guide you in picking the best citizenship option globally. Just request a consultation, and we’ll get back to you right away!