In this article, we take a look at the 5 Cheapest Countries to Get Second Citizenship. If you would like to see the detailed list and read our detailed discussion of the migration industry, go to 15 Cheapest Countries to Get Second Citizenship.
5. Vanuatu
Citizenship Cost: $135,000
Citizenship for Vanuatu requires an investment of $130,000 in an investment fund; the price increased to $180,000 for a family of four. However, the investment does not include the processing and due diligence fee. With a passport from Vanuatu, you can travel to 53 countries with a free visa, and it is ranked 51 on the passport index. Vanuatu is a lower-income country, and the economy heavily depends on agriculture, which makes up 40% of the economy.
4. Montenegro
Citizenship Cost: €100,000
Montenegro’s citizenship can be acquired through a payment of €200,000 to the government and an investment in a pre-approved real estate project valued at €250,000 in the northern region or €450,000 in the southern region. According to Montenegrin National Law, citizenship can be acquired after ten years. For citizenship, applicants must pay €100,000 to the government. However, Montenegro does not allow citizens to hold foreign citizenship besides their Montenegrin one. Overall, Montenegro has a passport index of 36, and it can travel to 81 countries without a visa. The average cost of livng for a single person in Montenegro is $654 without rent.
3. Saint Lucia
Citizenship Cost: $100,000
Saint Lucia requires a minimum of $100,000 for citizenship. You may also need to pay a processing fee and due diligence costs. St Lucia is known for its gorgeous mountains, volcanoes, and sulfur springs, and the primary industries here are tourism and banana production. Here, the cost of living for a single person can range anywhere between $1500 to $2500 per month.
In terms of passport strength, St Lucia’s passport ranks 29th on the Passport Index with a mobility score of 137, meaning you can travel to 208 countries with this passport. According to the CIA, the naturalization process for the country requires eight years.
2. Antigua and Barbuda
Citizenship Cost: $100,000
The National Fund is the least expensive investment option in Antigua and Barbuda, requiring a minimum of $100,000. However, the application and processing fees are more expensive, up to $30,000 or more, than in St. Lucia. Also, the average cost of living for a single person in the country is about $1100 without rent. With a passport from Antigua and Barbuda, you can travel to 103 countries without a visa, and it is ranked 24th on the passport index. Antigua and Barbuda is historically rich in the Caribbean. The top exports include fuels and mining products, and the primary source of income is mining products.
1. Dominica
Citizenship Cost: $100,000
Dominican citizenship can be acquired by investing $100,000 into the country’s state fund. Their passport ranks 33 and allows them to travel to 94 countries visa-free. Dominica is known to be a peaceful place to live due to its tropical climate and a growing tourism sector. However, it is one of the poorest countries in the Caribbean region, and the average cost for living for a single person is $650+ without rent. According to the CIA, the naturalization period for Dominica is five years.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 18 Hardest Countries to Get Citizenship in 2023 and 15 Hardest Countries to Get Citizenship in Europe.
