In this article, we will take a look at 13 Countries with the Best Citizenship by Investment Program in the World. You can skip our detailed analysis and go directly to the 5 Countries with the Best Citizenship by Investment Program in the World.
The growing trend of increased international mobility has fueled the desire to expand not only one’s cultural experiences but also financial ones. With the evolving dynamics of dual citizenship, the appeal for acquiring a second citizenship has intensified, prompting individuals to explore viable options. This is particularly true for investors and high-net-worth individuals. Citizenship-by-investment programs offer one such method, creating a win-win situation for all parties involved. By investing in the host country’s economy, investors can secure a second citizenship and passport, while the host country benefits from the influx of foreign direct investment, thereby strengthening its economy.
Citizenship By Investment Programs: Host Country Advantages
In 2022, approximately 1,375 applications were submitted for citizenship through investment programs in the three most sought-after Caribbean Islands—Antigua & Barbuda, Saint Lucia, and Grenada. While the 2019 pandemic initially dampened the upward trend, its reversal led to a subsequent revival. However, even in the face of the pandemic, revenues from the investment programs in 2019 exceeded those of 2018 for most countries. Notably, Turkey’s citizenship-by-investment program generated US $1,343 million in 2019, compared to $106 million in 2018, and the country issued the highest number of passports in citizenship-by-investment programs—9,962. Similarly, revenues for other countries, such as Vanuatu ($105 million), Antigua and Barbuda ($99 million), and Grenada ($61 million), also surpassed their 2018 figures in 2019.
Citizenship By Investment Programs: Financial Allure for Investors
In contemporary times, acquiring second citizenship offers numerous benefits. One key advantage is the enhanced sense of security that comes with being a national of two or more states. Additionally, the concept of visa-free global mobility has taken on new significance, proving to be particularly advantageous for investors. Beyond that, individuals can enjoy various tax benefits and increased opportunities for business advancement, as well as personal development through an improved quality of life, encompassing education and healthcare.
It is, therefore, unsurprising that a growing number of millionaires are seizing this opportunity. According to Henley & Partner, the number of millionaires relocating to another country reached 128,000 by 2024, a substantial increase from 51,000 in 2013. Notably, 6,705 Americans renounced their citizenship in 2020 to move to other countries, with tax avoidance emerging as a primary motivation for some of these millionaires.
Given this need for better finances, it is not surprising that companies like Intuit Inc. (NASDAQ:INTU) and Broadridge Financial Solutions, Inc. (NYSE:BR) have gained significance for entrepreneurs. Intuit Inc. (NASDAQ:INTU) is a multinational business software company that provides top-notch financial software services. Here’s what Baron Fintech Fund had to say about Intuit Inc. (NASDAQ:INTU) in their fourth quarter 2023 investor letter:
“Intuit Inc. (NASDAQ:INTU) is the leading provider of accounting software for small businesses and tax preparation software for individuals and tax professionals. Shares increased after the company reported quarterly financial results that exceeded Street expectations, with 15% revenue growth and 49% EPS growth. Intuit is benefiting from the sale of higher-value services and is well positioned to capitalize on increasing adoption of artificial intelligence (AI) given its vast data sets. The company recently launched Intuit Assist, a generative AI-powered digital assistant that improves productivity and unlocks valuable insights for customers. We continue to own the stock due to Intuit’s strong competitive position and numerous growth opportunities.”
Broadridge Financial Solutions, Inc. (NYSE:BR) is a leading provider of investor communication and helps financial services firms by providing technology-driven solutions, including tax reporting services. Continuously upgrading their solutions, Broadridge Financial Solutions, Inc. (NYSE:BR) has recently introduced NYFIX Fill Matching platform, aimed at helping high asset managers with high volumes.
Methodology
In order to compile our list for 13 Countries with the Best Citizenship by Investment Program in the World, we start off by scouring through various sources to extract citizenship by investment programs being offered around the world. We then used our article 10 Cheapest Residency or Citizenship by Investment Programs in Europe, as well as other sources, to find and rank these countries according to the minimum required investment and the time to citizenship. We then further check their political stability and absence of violence/terrorism percentile rank from The World Bank databank, 2022 and rank our selected countries according to those scores. We also use Human Development Index Ranking, 2022. To present a consolidated final ranking, we average the ranks for the four metrics on the weighted-average concept, with cost awarded the highest rank (0.5), followed by time (0.3) and then equal values for the other two metrics (0.1 each). We also talk about The Henley Citizenship Program Index, 2024 scores and rankings for these countries.
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Now that we have made a thorough analysis, we present to you 13 Countries with the Best Citizenship by Investment Program in the World.
13. Austria
Minimum Investment Rank: 13
Time to Citizenship Rank: 6
Political Stability Rank: 6
Human Development Index Rank: 2
Insider Monkey Weighted-Average Ranking: 9.4
Austria’s citizenship-by-investment program stands out as one of the initiatives requiring a significant investment in either joint ventures or direct business investments, with the goal of creating jobs and fostering new export sales. The selected businesses are expected to possess an international reputation and demonstrate growth potential. Under this citizenship program, the minimum required investment is €2 million, with the possibility to invest up to €10 million. The application process typically takes 24 to 36 months.
While the investment required is indeed substantial, the benefits of obtaining Austrian citizenship are manifold. Austria, being a politically stable, safe, and developed nation, offers a high quality of life to its citizens. Austrian passport holders enjoy the privilege of visa-free travel to approximately 190 countries and the freedom to reside anywhere within the European Union and Switzerland. Notably, Austria holds the 2nd position on the Henley and Partner Citizenship Program Index for 2024, achieving top scores in attributes such as quality of life, visa-free travel, residence requirements, and relocation flexibility. It’s essential to note, however, that except for certain specific cases, acquiring Austrian citizenship entails renouncing one’s previous nationality.
12. Jordan
Minimum Investment Rank: 12
Time to Citizenship Rank: 4
Political Stability Rank: 3
Human Development Index Rank: 9
Insider Monkey Weighted-Average Ranking: 8.4
As a Middle-Eastern nation offering citizenship through investment, Jordan presents a unique opportunity for investors seeking to establish strong ties with the country and capitalize on lucrative economic prospects. Geographically situated between Asia, Africa, and Europe, Jordan provides a secure, politically stable, and business-friendly environment for potential investors. The minimum investment required is US $750,000, directed towards a productive economic sector project located outside of Amman, which should generate at least 10 jobs for Jordanians. Citizenship is typically granted within a span of 3 to 6 months, with a higher likelihood of approval within the shorter timeframe. The program extends to the individual investor and their immediate family members, encompassing children under 18, widowed or divorced daughters, as well as parents.
11. Malta
Minimum Investment Rank: 11
Time to Citizenship Rank: 7
Political Stability Rank: 8
Human Development Index Rank: 1
Insider Monkey Weighted-Average Ranking: 8.2
10. Cambodia
Minimum Investment Rank: 9
Time to Citizenship Rank: 3
Political Stability Rank: 9
Human Development Index Rank: 5
Insider Monkey Weighted-Average Ranking: 7.1
As one of the rapid citizenship programs, Cambodia offers investors the opportunity to acquire citizenship by making a minimum donation of approximately US $320,000, including fees, to the Royal Government. The country boasts beautiful scenery, rich heritage, and friendly people. Citizenship can be obtained in a relatively short period, typically within 3-4 months. While passport holders from Cambodia enjoy visa-free travel to 53 countries, the nation maintains a politically stable environment. Notably, Cambodia secures the 9th position in the Henley & Partner Citizenship Index, earning high scores for residence and physical visit requirements. It also makes to the 10th position in our list of countries with the best citizenship by investment program in the world.
9. Turkey
Minimum Investment Rank: 10
Time to Citizenship Rank: 4
Political Stability Rank: 1
Human Development Index Rank: 3
Insider Monkey Weighted-Average Ranking: 6.6
This citizenship offers numerous benefits, including visa-free travel to over 110 countries and access to a financially sound, stable, and safe country with a high quality of life. The investors can also become eligible for E-2 Investor Visa for the US after being domiciled in Turkey for three years. Turkey holds the 5th position on the Henley & Partner Citizenship Index, boasting high scores in physical visit and residence requirement rules.
8. Saint Kitts and Nevis
Minimum Investment Rank: 7
Time to Citizenship Rank: 4
Political Stability Rank: 9
Human Development Index Rank: 6
Insider Monkey Weighted-Average Ranking: 6.2
As the world’s first formal citizenship-through-investment program, Saint Kitts and Nevis has welcomed numerous investors since its establishment in 1984, offering them the opportunity to become residents of one of the most beautiful Caribbean Islands. The program remains a top choice for many investors, naturalizing over 1,000 investors and their families annually. Among its two investment options, the minimum-cost route involves a US $250,000 investment in a Sustainable Island State Contribution. Citizenship can be attained in approximately 3-6 months.
Citizenship in Saint Kitts and Nevis offers a multitude of benefits, including visa-free travel to approximately 157 destinations, the inclusion of family members such as parents and dependents, and the option of citizenship by descent for future generations. The country holds the 4th position in the Henley & Partner Index, earning high scores in the physical visit and residence requirement categories.
7. Egypt
Minimum Investment Rank: 7
Time to Citizenship Rank: 5
Political Stability Rank: 1
Human Development Index Rank: 8
Insider Monkey Weighted-Average Ranking: 5.9
Considered one of the world’s newest citizenship-through-investment programs, Egypt offers investors five different options. The option with the minimum investment involves making a non-refundable contribution to the CIU account in the central bank of the country, totaling US $250,000. The process for obtaining citizenship typically takes 6-9 months.
Ranking high on the political stability index, Egypt offers a rich cultural experience within the Middle East. Residents can enjoy visa-free travel to 51 destinations. The country secures the 6th place in the Henley & Partner Index, scoring notably high on various attributes, including travel destinations, compliance, process time, and physical visit, as well as residence requirements. It is thus, no surprise that Egypt is one of the countries with the best citizenship by investment program in the world.
6. Grenada
Minimum Investment Rank: 5
Time to Citizenship Rank: 4
Political Stability Rank: 12
Human Development Index Rank: 4
Insider Monkey Weighted-Average Ranking: 5.3
Grenada has emerged as a popular choice among investors seeking citizenship through investment programs. With a stable economy and political environment, the country offers lucrative options for investors. The minimum investment entails a donation of US $150,000 to the National Transformation Fund for a single applicant, with citizenship available in 3-6 months.
This investment option in Grenada comes with various benefits. Investors have the opportunity for an E2 visa for the US, thanks to the country being a signatory to the United States E2 Treaty. Grenadian citizens can also enjoy visa-free travel to over 140 countries, transfer their citizenship to future generations, and include family members such as parents and grandparents. The program’s appeal is reflected in Grenada’s 3rd position on the Henley & Partner Index, where it scored high on various attributes.
Click to continue reading and see our 5 Countries with the Best Citizenship by Investment Program in the World.
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Disclosure: None. 13 Countries with the Best Citizenship by Investment Program in the World is originally published on Insider Monkey.