We often get requests from people looking to get the quickest second citizenship and passport possible. What they’re looking for is the world’s fast-track option to a second passport: citizenship by investment.
We have written before about whether or not citizenship by investment is the right choice. If you believe that pursuing citizenship by investment program is a fitting solution in your situation, this article will cover the fastest programs out there.
Realize that most citizenship by investment programs can offer you two of the three things most people are looking for in a second passport: a fast timeline, a low price, and a powerful travel document. We’ll start by looking at the passports that provide a fast and affordable pathway toward citizenship.
At Nomad Capitalist, we don’t offer one-size-fits-all solutions, and nothing can substitute our bespoke strategies tailored to your needs. If you are seriously considering obtaining a second passport, contact the Nomad Capitalist team.
Fast And Affordable Citizenship By Investment Programs
Dominica’s citizenship by investment program offers both reputability and quality of the passport you would get out of the deal. Dominica’s passport is ranked 65th in the world, with visa-free access to 134 countries, including Europe’s Schengen Area.
Taking advantage of this added benefit, Dominica decided to increase the price for citizenship from $100,000 for a single applicant to $175,000. However, once other Caribbean countries also joined the citizenship by investment club in around 2016, Dominica lowered the price back to the original $100,000.
This is an opportune time to obtain Dominica citizenship by investment. Unlike its neighbors’ programs, Dominica does not provide government bond investments. However, it offers attractive options for making a general donation or purchasing real estate.
If you are interested in Dominica, start now before any further price increases. The timeline for citizenship in this Caribbean nation is just three to six months.
Way back in 1997, Grenada established and implemented its CBI program, enabling non-citizens to acquire a Grenadian passport through investment in the country. However, in 2001, the program was halted, to be revamped and reintroduced in 2013.
You can be approved within four months with a one-time donation of $150,000 for a single applicant or $200,000. Plus, there is no requirement to travel to Grenada to qualify.
While your investment into the national fund is a non-refundable contribution, you can also be granted citizenship by investing at least $220,000 or $350,000 in approved real estate with a reasonable possibility of making a return on your investment.
You would not be able to sell your property within five years (if you do, you would lose your citizenship). Including government fees, your total investment would come to around $410,000.
The Grenada passport is a step up from the passport of Dominica, ranking 62nd in the world with visa-free access to 145 countries.
Grenada’s E-2 visa agreement with the United States is an attractive feature of their CBI program. This visa is highly sought after, and Grenada is the only country in the Caribbean CBI program to offer it. Presents an incredible opportunity for individuals looking for the perfect Plan B. However, it is important to note that a “substantial” investment is required.
Antigua and Barbuda
Antigua and Barbuda offers a similarly priced citizenship by investment with a shorter timeline. For a donation of $130,000 to the country’s National Development Fund, you can submit your citizenship application and be approved in an average of just three to four months.
Like in Grenada, if you’re willing to invest substantially more, you can purchase real estate, invest in a local business, or donate to the University of the West Indies.
An investment of at least $400,000 in an approved real estate project or a joint business investment (totaling $5,000,000) in which each individual invests at least $400,000 can also qualify you for a second passport.
The passport of Antigua and Barbuda is ranked 56th in the world, permitting visa-free access to 150 countries, including Europe, much of the Americas, and other developed countries. Under each option, there are several fees, including government processing fees of around $50,000.
St. Kitts and Nevis
Just slightly more expensive than the Antigua and Bermuda or Grenada programs, St. Kitts and Nevis will exchange a one-time contribution of $250,000 to the Sugar Industry Diversification Fund for citizenship.
As the original citizenship by investment program, now running for nearly 40 years, St. Kitts is regarded as having a well-run model with an average processing time of four to six months.
The real estate option is almost identical to the other Caribbean programs mentioned, with a $400,000 price tag stipulating that your property cannot be resold until five years after purchasing.
While reasonably priced, the St. Kitts and Nevis CBI program is not the most affordable option among Caribbean programs, and real estate prices are somewhat inflated. Even so, the St. Kitts and Nevis passport is ranked 49th, allowing visa-free access to 154 countries.
Fast And Powerful Citizenship By Investment Programs
If you have more money to invest, you can get a second citizenship in a European country at record speed.
You can get a powerful passport for a relatively small price tag but a longer timeline in a Mediterranean EU country. The requirements for citizenship by investment in Malta include a contribution of €750,000 if the applicant has resided for 12 months in Malta.
The real estate option is €700,000 and to maintain ownership for at least five years. Alternatively, you could rent a property at an annual rental value of at least €16,000. Applicants must also make a donation of €10,000 to any group approved by the Community Malta Agency.
Following a year of residency, you can apply for citizenship, after which the process takes approximately six months. In all, you should plan on a total timeline of up to 36 months to acquire your Maltese citizenship. Malta is in a prime location, with quick flights to continental Europe and Northern Africa, making it a virtual stepping-stone from continent to continent and placing business opportunities within short reach.
Even better, Malta’s passport is among the top passports in the world, ranked 12th, with a total of 187 visa-free destinations available to Maltese citizens — including the almighty fortresses that are the US and the UK.
Instant Citizenship For Wealthy Investors
If you are contemplating investing considerably more in a country, there is a good chance you will be granted citizenship in any number of countries.
Here’s the reality: If you want to invest a million dollars, many countries will find a way to open their doors to you. Take, for example, Austria’s “program,” which, yes, may have the 25th most powerful passport in the world with visa-free access to 191 countries, but it’s far from the best option for your money, and it’s definitely NOT fast, and a program with a very limited scope.
The difference between a place like Malta and Austria is that the likes of Malta have formal programs. The truth is, a country like Austria doesn’t need anybody.
The ultimate question is, what are you trying to accomplish? If you are trying to figure out the best program for you, there might be other options out there that will work for you that don’t require mega-dollar investments.
Instead of looking for the fastest passport, start with the best.
If you are looking for a second citizenship but can’t bring yourself to donate to a Caribbean country to get a second passport in months, you might consider taking advantage of the opportunities to live in one of the countries that offer citizenship relatively quickly.
These options may be ideal for someone who wants to build their passport portfolio or if you’re just starting out and you dont have the money to make a substantial donation to a Caribbean country.
There are now great permanent residence programs in interesting off-the-radar countries and attractive emerging markets.
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