The citizenship by investment industry is constantly growing and changing. It’s important to have all the tools available to make the right choice. You’ll want a programme that best fits your budget, family, and business needs. In this post, we’ll explore the seven best citizenship by investment countries of 2023.
Citizenship by investment (CBI) programmes offer the opportunity for reputable individuals to legally obtain a new citizenship in return for an investment in the economy of the host country. The main goal of these programmes is to find a win-win solution for both investors and the countries offering the citizenship by investment programme.
This process aims to be relatively smooth provided that an investor delivers all the necessary documentation, passes all necessary due diligence checks, and makes the qualifying investment. The investment made by that individual is often put towards improving the quality of life for those inhabiting the host country.
Being a dual citizen offers more benefits than you might think. From family reunification to enhanced security and increased economic opportunities, there are so many reasons to get a second nationality.
As such, it’s no surprise that more and more people are interested in citizenship by investment programmes, which allow individuals to obtain second citizenship in exchange for an investment — typically in the form of real estate or a government fund. Dual citizenship offers many advantages, but we have broken them down into three, namely:
But in which countries can you get citizenship by investment? Allow us to take you through some of the best around.
Here are the most popular citizenship by investment programmes currently available worldwide, along with their requirements and benefits. It is worth noting that the Caribbean still offers the most affordable and recommended options in the industry. Five of our top seven are Caribbeans; Antiqua and Barbuda, Dominica, Grenada, St Kitts and Nevis and Saint Lucia which are then completed by Malta and Turkey.
Antigua and Barbuda is a Caribbean country consisting of two namesake islands and multiple smaller ones. It is renowned for its reef-lined beaches (including one pink beach), rainforests and resorts, and welcomed over 180,000 tourists the year before the pandemic. Antigua and Barbuda is also economically and politically stable, with low crime rates. You can make this popular holiday location the home of your dreams by applying to the Antigua and Barbuda Citizenship by Investment Programme.
The programme has been going since 2013 and requires minimum investment amount of US$ 100,000. Applications take around 180 days to be processed, and you must reside there for at least five days in order to receive citizenship. There is a travel requirement to take the oath of allegiance, which is usually completed at the same time as the five days residence requirement.
Note: Since 1 February 2020, the five-day stay requirement has been temporarily suspended in response to the travel restrictions created by the COVID-19 pandemic.The CIU has announced the extension of the the suspension of the five-day stay requirement until 30 June 2023.
You must also pay due diligence, processing, and registration certificate fees. There is no language requirement, mandatory interview, or knowledge-based test.
To gain Antigua and Barbuda citizenship through the programme, there are four options:
The non-profit National Development Fund finances government projects, public-private partnerships, and other charitable investments in the country. The investment for single applicant is US$ 100,000.
Going down the real estate route involves a minimum investment of US$ 200,000, with applicants also having to commit to holding the property for at least five years.
To invest in a business, you must put down at least US$ 1,500,000 as an individual investor or US$ 5,000,000 with a partner, with the business needing to have been pre-approved by The Cabinet of Antigua and Barbuda.
This fund finances the institution’s fourth landed campus in Antigua and Barbuda and is available to families of at least six. It has a minimum investment amount of US$ 150,000.
Nicknamed “The Nature Isle of the Caribbean”, Dominica’s moniker tells you all you need to know about this beautiful country. From waterfalls and volcanoes to beaches and rainforests, Dominica truly has it all nature-wise. The country also has an affordable cost of living, free healthcare and a rapidly growing economy.
Dominica’s Citizenship by Investment programme has been running since 1993 and has a minimum investment of US$ 100,000 which must be made as a direct contribution to the Government. Commonly known as the Economic Diversification Fund option, this makes Dominica the industry’s most affordable citizenship by investment programme for single applicants.
During the three-month process from application to approval in principle, robust due diligence checks are carried out. There are no travel or residence requirements, no language requirements, and no interview or knowledge-based assessments. The applicant must be of good character and be aged 18 or over. The Dominica CBI Programme has been ranked the best CBI programme on offer to applicants for the past four consecutive years by the CBI Index, a publication by the Financial Times’ PWM Magazine.
Dominica’s CBI programme has two investment options:
This involves a minimum investment of US$ 100,000 in a fund that goes towards socio-economic initiatives in Dominica.
Applicants are required to purchase a government-approved real estate property for a minimum of US$ 200,000 and must hold it for at least three years.
Grenada is a small island-nation in the Caribbean comprising one main island and several smaller ones. It is known as the “Spice Isle” thanks to its long history as an exporter of spices including nutmeg, turmeric, and ginger. Grenada also boasts beautiful beaches, vibrant coastal towns and attractions like Fort George and Fort Frederick.
To obtain citizenship by investment in Grenada as a single applicant, you must make a minimum contribution of US$ 150,000 to the country’s National Transformation Fund. The process takes around 90 days from submission of an application to approval, and it is during this period that due diligence checks are performed. There are neither travel or residence requirements, nor a language requirement, mandated interview, or knowledge-based test. To apply, you must be of good character, and successful applicants will gain global mobility.
Applicants have two investment options when obtaining Grenadian citizenship:
The National Transformation Fund (NTF) has a minimum investment of US$ 150,000, with funds going towards transforming the country’s economy.
This route has a minimum independent investment amount of US$ 350,000, and applicants need to hold the property for at least five years after receiving citizenship.
The next country on our list is St Kitts and Nevis, another Caribbean island-nation. Situated between Anguilla and Montserrat, it features pristine beaches, wondrous volcanoes, and beguiling rainforests. St Kitts and Nevis has a population of over 52,000, with an economy reliant on tourism, export-oriented manufacturing, and offshore banking.
The St Kitts and Nevis Citizenship by Investment Programme is the world’s longest-running CBI programme (launched in 1984) and one of the most trusted, being the first of its kind.
Single applicants can make a minimum contribution of US$ 125,000 to the Sustainable Growth Fund (SGF) under the limited time offer available until 30 June 2023.
The process to obtain citizenship of St Kitts and Nevis takes approximately 90 days from submission to approval in principle on the normal route. However, this can be fast-tracked to 60 days or less under the nation’s Accelerated CBI Application for an additional fee.
There are no obligatory travel or residency requirements for this programme and no interview or language requirements.
St Kitts and Nevis’s citizenship by investment programme has four investment options:
Limited Time Offer:
From 1 January to 30 June 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$ 125,000 to the Fund and receive approval in principle within 60 days of submission of application.
From 1 July 2023 onwards, applicants investing through the Sustainable Growth Fund are required to make a minimum investment of US$ 150,000 and can expect approval in principle within 90 days of submission of application. The funds raised by the SGF go towards supporting sustainable growth initiatives in the country.
This route involves investing in government-approved real estate, with independent investors needing to make a contribution of at least US$ 200,000 and hold the property for a minimum of seven years.
The Private Home Sale Investment Option will be retained as a permanent investment option under the CBI Programme, where the minimum investment per application is US$ 400,000 in a private single-family dwelling house designated as an Approved Private Home.
Public Benefit Option requires minimum investment per application US$ 175,000 in an Approved Public Benefit Investment, payable to an Approved Public Benefit Investor.
Saint Lucia is an Eastern Caribbean island-nation famous for its Piton mountains. Aside from hiking opportunities, you’ll also find cocoa plantations, historical forts and pristine white beaches there, with the country welcoming just under 220,000 tourists the year before the pandemic. In addition, Saint Lucia boasts a diverse economy and stable democracy.
And for the final Caribbean CBI programme, Saint Lucia launched its programme in 2016. A decision is usually made concerning your application within three months of submission, stating if it has been approved or denied. Applicants must pledge the oath of allegiance to Saint Lucia and be of good character. There is no need to travel to or reside in Saint Lucia, nor are there any language requirement or interview requirements.
The programme’s four investment options are:
The National Economic Fund (NEF) was established to receive qualifying investments to fund Government-sponsored projects on the island. Applicants can obtain citizenship by making a minimum investment of US$ 100,000 to the NEF.
Applicants may obtain citizenship by purchasing Government-approved property valued at a minimum of US$ 200,000.
The next option is a minimum US$ 3,500,000 investment in a pre-approved enterprise project that creates at least three permanent jobs.
Applicants may decide to invest in government bonds to obtain citizenship and they must contribute at least US$ 300,000 as a sole applicant in National Action Bond (NAB).
Apart from Caribbean citizenship by investment programmes, there two more countries offering CBI, listed for the last few years within the top 10 of CBI Index rankings: Malta and Turkey.
Situated in the centre of the wonderful Mediterranean Sea, Malta is an ideal country to be called a second home. Not only because of the beauty and climatic conditions but also due to the latest programmes that let an individual flourish in the business world. Moreover, it is a member of the European Union and enjoys a stable political climate, a growing economy, and home to some of the world’s soundest banks.
The previous CBI programme was officially closed after it reached the cap of 1,800 applications. Thereafter, the new programme was introduced, which offers a secure EU relocation route with a fast and straightforward residency acquisition. This new programme, Malta Citizenship by Naturalization for Exceptional Services, grants you and your family citizenship by a Certificate of Naturalization by contributing to the country’s economic development.
There is a minimum amount of investment that you must make to be eligible for the programme, and you have to prove your 12 or 36 months of residency in the country. According to the new regulations, this citizenship programme will be limited to providing citizenship to a maximum of 400 successful applicants per year. Furthermore, it will be capped after 1,500 applicants have been granted citizenship.
Applicants must first apply to the Community Malta Agency (through an authorised agent) for residency in Malta. Residency status is initially issued for 36 months, and applicants aged 18 and over must hold residency status in Malta for at least 12 months to submit an application for citizenship.
At the Citizenship Stage, the applicant must make the relevant investment, the total cost of which differs according to how long the applicant resided in Malta under the residency stage.
The main applicant must fulfil all the following requirements:
Main applicant must contribute € 590,000 after 36 or more months of residency or € 740,000 after 12 months of residency.
Purchase an immovable residential property in Malta having a minimum value of € 700,000 or take on lease a residential immovable property in Malta for a minimum annual rent of € 16,000.
Donation to a registered philanthropic, cultural, sport, scientific, animal welfare or artistic non-governmental organisation or society, in the amount of € 10,000.
Turkey is a transcontinental country straddling Europe and Asia known for its bustling cities, fascinating history, jaw-dropping landscapes and coastal delight. It’s therefore no surprise it’s among the world’s most visited countries. Turkey’s economy is also within the world’s top 25, with its main industries including manufacturing, tourism and agriculture.
The country’s citizenship by investment programme was launched in 2017 and has a minimum investment amount of US$ 400,000.
Applications take between three to six months to complete, with no requirement to reside in Turkey. However, you must travel to Turkey to supply biometrics.
Turkey’s programme has five investment options, which are:
Applicants need to buy property that’s recognised by the Ministry of Environment and Urbanisation and is worth at least US$ 400,000. They must also hold it for at least three years.
The next option involves making a minimum US$ 500,000 investment in a Turkish bank that is recognised by the Council of Bank Audit and Regulation and holding the deposit for at least three years.
Those wanting Turkish citizenship can buy government bonds worth at least US$ 500,000. These must be recognised by the Ministry of Treasury and Finance and need to be held for three years or more.
The fourth option involves investing US$ 500,000 in fixed capital that’s acknowledged by the Ministry of Industry and Technology.
Applicants can get Turkish citizenship by creating 50 jobs in Turkey, which must be acknowledged by the Ministry of Family, Labour, and Social Security.
These are our top picks for the best citizenship by investment programmes of 2023 from around the world.
We understand investment in a second citizenship is a major step for you and your family, so if you have any questions about any of these programmes or want to learn more to help you make a choice, CS Global Partners is at your service.
Please do not hesitate to contact us with your inquiries and one of our experts will address your concerns.
