Choosing the best economic citizenship (CBI) program is an important decision. It should be based on your personal aspirations, financial objectives, and family needs.
Citizenship-by-investment (CBI) programs have become a booming industry and generate substantial revenue for many countries. The CBI market is growing in popularity due to its benefits and ease of application.
1. Canada
Canada is one of the most popular destinations for those looking to acquire a second citizenship through investment. The country offers numerous benefits to its citizens, including visa-free travel to 119 countries and territories, excellent healthcare and education systems, and a high standard of living.
There are a number of different immigration programs that can lead to Canadian citizenship through investment, both at the federal and provincial level. The Quebec Investor Program (QIIP), which has been suspended until 2023, is one of the most attractive options for high net worth individuals. It requires a minimum investment of CAD 1.2 million for a period of five years.
In addition to financial investments, Canada also requires that its citizens meet certain residency requirements, usually by holding permanent resident status for a period of 1,095 days during the five-year period prior to their application for citizenship. Furthermore, applicants must pass a language test and an exam regarding Canada’s history, values, institutions, and rights. The process can take between 4-6 months from start to finish.
2. St. Kitts and Nevis
This Caribbean nation is one of the top Caribbean CBI programs for investors looking to travel visa-free and enjoy tax benefits. St Kitts and Nevis citizenship by investment offers a cost-friendly option with a minimum contribution of $170,000 for a family of four, which is significantly lower than other comparable options.
Investors can secure their citizenship by investing in approved real estate projects, or by contributing to the Sustainable Growth Fund. Once the investments are completed and due diligence checks are passed, passports can be issued to all applicants and their families.
The country’s economic citizenship program was ranked the best in 2021 by the Citizenship-by-Investment Index, with high marks in the Mandatory Travel and Residence, Ease of Processing and Due Diligence Pillars. It was also given the highest score in the Caribbean for the shortest application process. With this passport, you will gain access to more than 160 countries and territories, including the European Union member states, United Kingdom, Ireland, and most Commonwealth nations. It also grants visa-free travel to the US.
3. Malta
Malta’s citizenship by investment program offers a unique European lifestyle, with the power to live anywhere in the EU. It is one of the best programs available for entrepreneurs, investors and families who want to gain a prestigious passport, European privileges and rights, and a central Mediterranean epicenter of luxury in only a year.
The Malta Exceptional Investor Naturalization (MEIN) program is the most attractive option among high-net-worth individuals seeking greater global mobility and fewer travel obstacles. The country enjoys a highly respected EU status, a growing economy, stable political climate and top-tier banking institutions. It also provides a fast and efficient process with an extensive due diligence and vetting system to ensure only persons of impeccable character are admitted.
Those who invest in real estate or government bonds can gain Maltese citizenship in a few years. Alternatively, a one-time contribution to the national fund – which is similar to donation investments in other countries – is another way to qualify for the program. This is a risk free investment that pays back the full amount without interest.
4. Portugal
Portugal’s residency and citizenship by investment program, formerly known as the Golden Visa Program, lets investors and their families benefit from one of Europe’s best economies. The program offers a route to dual citizenship, providing an attractive tax incentive and the freedom to travel around the world without the need for a visa.
Launched in 2012, Portugal’s golden visa can lead to citizenship after 5 years. The program also offers the chance to apply for Portuguese citizenship after ten years of residency, with passport holders enjoying full EU benefits including Schengen borderless travel and a US visa waiver.
Applicants can choose from several investment options, such as investing in a fund, buying real estate, preserving cultural heritage or scientific research, or establishing an incorporated business. The minimum investment required is EUR500,000, which excludes any related costs.
Investors can also use their investment to buy government bonds, which are guaranteed by the Portuguese Treasury. The program also has no minimum residency requirements, except for the first year, when investors need to spend seven days in the country.
5. Antigua & Barbuda
With its 365 sun-kissed beaches and hub of elite yachting, Antigua & Barbuda is a Caribbean destination with world-class attractions. Its CBI program is a great way for high net worth individuals and families to invest in the country while enjoying the benefits of a second citizenship.
The program has a number of options, ranging from donation programmes to real estate and business investment opportunities. Applicants must pass rigorous due diligence checks, including background, criminal and financial checks, and submit documents related to their chosen investment option. These processes are crucial to maintaining the integrity of the program and protecting its reputation amongst investors.
There is also a special UWI fund option that offers one family member a tuition-only scholarship at the University of the West Indies. With a minimum contribution of $150,000, this is one of the most cost-effective Caribbean Citizenship by Investment programs available. Interested parties should work with a licensed Antigua and Barbuda citizenship by investment agent to ensure that they are making the most of this excellent programme.
6. Dominica
The Dominica Citizenship by Investment Program naturalizes more than a thousand investors a year through a minimum contribution of USD 100,000. This is the lowest investment requirement for any citizenship by investment program worldwide, making it one of the most affordable programs available. It also offers visa-free travel to more than 140 countries and US E-2 treaty eligibility. Additionally, Dominica’s CIP accommodates large families with siblings included in the application.
Dominica is also known for its efficient and transparent processing of economic citizenship applications. This is largely due to the country’s long-running and established citizenship by investment program, which is enshrined in Sections 101 and 88 of its constitution as well as the Citizenship Act.
Applicants seeking Dominica citizenship can choose to invest either in qualifying real estate or submit a non-refundable contribution to the government’s Economic Diversification Fund. The funds are used to support socio-economic initiatives and boost the economy. Dominica’s CBI program has a favourable tax environment with no income, capital gains or inheritance taxes and double taxation agreements with the United States and CARICOM.
7. Vanuatu
The pristine South Pacific archipelago of Vanuatu offers a unique opportunity to gain second citizenship through an affordable investment and a hassle-free application process. Launched in 2017, the nation’s Development Support Programme (DSP) is the only one of its kind in the Asia-Pacific region, and it has quickly become one of the world’s fastest citizenship by investment programs.
In fact, applicants can obtain their passports within a month of making their investments. And since they don’t have to live in the country before or after they’re granted citizenship, it’s not uncommon for families to apply together.
As the holder of a Vanuatu passport, investors have visa-free access to over 100 countries and territories and enjoy the island nation’s favourable tax environment. As of 2018, the DSP has contributed more than 30% to government revenue, eclipsing VAT receipts. The nation also has strict due diligence procedures to ensure that the program’s citizens don’t bring criminal or security risks with them. As such, Vanuatu’s CBI is an ideal option for high-net-worth individuals looking to escape from global political and economic uncertainty.
8. Dominican Republic
As one of the Caribbean’s untouched island nations, Dominica’s natural hot springs, coastal views and vibrant rainforest make it an ideal destination for nature lovers. The country’s reputable economic citizenship program, established in 1993 and one of the oldest programs of its kind, offers investors and their families visa-free travel to more than 112 countries and territories.
Dominica’s program is competitively priced, with investment options starting at $100,000 USD. This makes it a top choice for applicants looking to invest in a Caribbean passport.
Like other Caribbean programs, Dominica’s ECI allows for a limited number of family members to gain citizenship with the investor. This includes children over the age of 18, parents, and grandparents, providing more flexibility for applicants with larger families. The program also allows for additional family members through a donation to the government fund. The funds raised through this route are used to support various projects and endeavours within the public and private sectors of Dominica, including constructing schools, renovating hospitals, establishing a national sports stadium and aiding ventures in tourism and information technology industries.
