5 Best Countries for Securing Second Citizenship by Investment

Second citizenship is increasingly becoming popular. More and more countries are now offering a second passport by investment, including those in Europe and the Caribbean.

Passports are essential for international travels. They also provide proof of a person’s identity and nationality. Today, many people consider getting second passports because these allow them to live, invest, and do business in parts of the world you would not otherwise be able to.

Other reasons for getting second citizenship include:

• Ease of travel
• Tax efficiency
• High standard of living
• Greater economic and political stability and security
• Access to new career and investment opportunities
• Great options for children’s education
• Physical and personal security

Here are the five countries to choose from if you want to enjoy the perks of having a second passport:

1. Antigua and Barbuda

Antigua and Barbuda are among the Caribbean countries that offer a plethora of benefits to second-passport holders. These include access to its 365 beaches and visa-free trips to more than 130 countries. 

Moreover, Antigua and Barbuda levy no inheritance or capital gains taxes, and there’s no tax on any income you generate outside the country.

Investment options

Here are the three routes to citizenship in this country:

• Government donation

Applicants can make a monetary contribution to the National Development Fund. The cost may range from US$100,000 to US$125,000, depending on the number of applicants. The main applicant can include all qualified dependents, including a spouse. Still, government and due diligence are relevant for every person included.

• Business investment

Applicants may invest in an approved business. This option allows investors to establish sustainable agriculture and renewable energy businesses along with hotel and resort developments. It offers a healthy ROI, making it one of the best investment options for international entrepreneurs.

• Property investment

Applicants may invest in approved properties valued at a minimum of US$400,000. Take note though that processing fees, taxes, and property registration may be paid besides the property purchase.

Among the most rewarding properties to consider are high-end villas because they are somewhat resilient to market fluctuations. But the key is to choose properties built by developers with proven expertise in the Caribbean – from construction quality to skilled development and operations teams.

2. Grenada

Grenada is another Caribbean country that offers citizenship by investment programs. It is also known as the “Spice Island” because it is the biggest exporter of mace, nutmeg, and other spices in the world. Its tropical rain forests, dramatic scenery, golden beaches, waterfalls, and mountains appeal to travelers worldwide.

A Grenada passport allows visa-on-arrival or visa-free access to more than 130 countries, including China and Russia. It can also be a bridge to an American E-2 investor visa.

Investment options

Grenada grants citizenship in just three months of filing. The main applicant can include their spouse, parents, siblings, and grandparents. Investment options include:

• Government donation

The application can make a donation amounting to a minimum of US$200,000 to Grenada’s National Transformation Fund.

• Real estate investment

This investment program offers two options – invest with a co-owner or alone in a local real estate project. Investors can resell the property as well as earn rental income in between.

3. St. Kitts & Nevis

Located in the Eastern Caribbean, St. Kitts & Nevis boast colorful beachside villages, lush rainforests, a national park, and UNESCO-protected colonial forts. It also has a current development that includes two new world-class championship golf courses, private beach clubs, restaurants, exclusive hotels and resort communities, and a 300-berth mega yacht marina.

Investment options

The citizenship by investment program in this country was launched in 1984, making it the oldest program. Applicants are not required to go to the country during application or even after the citizenship is granted. Investment options include:

• Government donation

The applicant may donate an amount of at least US$150,000 into a Sustainable Growth Fund.

• Real estate investment

Applicants can buy an approved real estate property amounting to a minimum of US$200,000 for seven years or US$400,000 for five years, giving them full citizenship after the payment has been made.

4. Dominica

Dominica is famous for its tourism and agriculture, making it one of the best countries for a second citizenship. It is known as the “Nature Isle of the Caribbean” for its superb natural resources. The government encourages diversification in the agricultural sector by upholding the production of aloe vera, coffee, cut flowers, patchouli, and exotic fruits like papaya, guava, and mango.

A Dominican passport allows for visa-free travel to more than 95 countries, including Singapore, the UK, Ireland, Hong Kong, and the European Schengen states.

Investment options

The country’s citizenship by investment program was created in 1993. Today, it boasts a diverse blend of African, Carib, French, and English peoples and cultures. Investment options include:

• Government donation

Applicants can make a monetary donation of a minimum of US$100,000 to the country under their investor visa program.

• Real estate investment

Investors can buy properties in Dominica amounting to at least US$200,000 to gain their second citizenship. The country previously imposed some country restrictions but has recently modified its policy and now considers applicants from any country.

5. Vanuatu

Vanuatu is in the South Pacific Ocean, which gained its independence from France and Spain in 1980. When offshore legislation was launched in 1971, the country developed into one of the most preferred offshore banking jurisdictions. It also has no capital gains, estate, or income taxes, except 15% VAT and several import duties.

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But unlike the Caribbean countries, Vanuatu only offers one investment option – and that is through a government donation. Monetary contributions can be as little as US$130,000 for a single applicant, US$150,000 for a married couple, or US$165,000 for a family of four.

Different countries have various policies in terms of citizenship. So if you want to apply for citizenship, consider the requirements and guidelines of the country of your choice. Moreover, look for a speedy application and the benefits that come with it.

Most importantly, work with an experienced international team that can represent different citizenship investment programs around the world. A licensed agent for the program you want to apply for can help you throughout the application process and ensure that you’ll get your second passport at the soonest possible time.