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Obtaining a second citizenship and passport through investment in a country’s economy is referred to as citizenship by investment. Typically, it takes 6 to 12 months to process an application. One of the benefits of this program is that it does not require any particular skills, language proficiency, or residency from the applicant. Essentially, citizenship is granted solely on the basis of a clean record and substantial investment.
Citizenship by Investment: CBI is a widely used short form or acronym for “Citizenship By Investment”. CBI schemes legally allow foreign investors to obtain a new fast-track nationality with a passport purely on investment alone. Many countries run their own versions of these programs, granting investors instant nationality in exchange for significant contributions to society, culture, or the economy. Generally, you can apply for direct CBI schemes, which grant citizenship within a couple of months, or you can apply for residency by investment, upon which a passport is provided after a set number of years.
Benefits of Economic Citizenship
- Mobility and visa-free travel freedom (visa waiver)
- A Plan B option for Asset protection offshore
- Safety, privacy, and protection from war, political problems
- Dual citizen status
- A world-class education for children at the best universities abroad.
- Opportunity to invest in international real estate markets.
- Tax-free planning on worldwide income
- Ease of doing business
A second passport provides greater mobility along with visa-free travel freedom.
Best Citizenship by Investment (CBI) for 2023
| RANK | COUNTRY | MINIMUM INVESTMENT | PROCESSING TIME | MORE INFO |
|---|---|---|---|---|
| 1 | Antigua and Barbuda | US$100,000 | 3-4 months | Antigua and Barbuda Office |
| 2 | Dominica | US$ 100,000 | 90 DAYS | Dominica Office |
| 3 | Grenada | $150,000 | 90 DAYS | Grenada Office |
| 4 | Malta | €690,000 | AT LEAST 12 MONTHS | Malta Office |
| 5 | Saint Lucia | $100,000 | 90 DAYS | Saint Lucia Office |
| 6 | Saint Kitts & Nevis | $125,000 | 60 DAYS | St. Kitts & Nevis Office |
| 7 | Turkey | US$400,000 | 3-6 MONTHS | Turkey Office |
| 8 | Bulgaria | US$257,000 | 18-24 MONTHS | Invest in Bulgaria |
Best Residence by Investment Programs for 2023
| COUNTRY | MINIMUM INVESTMENT | TIME TO RESIDENCY | KEY ADVANTAGE | |
|---|---|---|---|---|
| 1 | Greece | € 250,000 | 1-6 MONTHS | Immediate permanent residence, subject to renewal every 5 years |
| 2 | Italy | €250,000 | 3-4 months | Residence valid for an initial two years, renewable for consecutive three-year periods |
| 3 | Latvia | €50,000 | 1-3 MONTHS | Residence valid for a five-year period, Ability to apply for permanent residence after five years |
| 4 | Monaco | €500,000 | 2-4 MONTHS | Temporary residence, renewable for three one-year periods, followed by ordinary residence, renewable for two three-year periods |
| 5 | Portugal | € 350,000 | 3-6 MONTH | PERMANENT RESIDENCE: AFTER 5 YEARS. Eligibility for citizenship after 6 years of residence |
| 6 | Singapore | SGD 2.5 MILLION | 3 MONTHS | The permit is valid for an initial five years; the Re-Entry Permit must be renewed for either three or five years. Residents above 21 years old can also apply for citizenship after two years of permanent residence in Singapore. |
| 7 | Spain | €500,000 | 1 MONTH | Residence valid for an initial two years, renewable for consecutive five-year periods. Ability to apply for permanent residence after five years of ‘legal and continuous’ residence. Ability to apply for citizenship after 10 years of residence in Spain. |
| 8 | Switzerland | CHF 250,000 | 3-6 MONTHS | The B permit is valid for one year and can be renewed on an annual basis. Eligible to apply for permanent residency (C permit) after 10 years. C permit holders may apply for Swiss citizenship. |