No, our list of 7 cheapest countries that sell citizenship isn’t a joke. There are actually some countries that give an opportunity to foreign individuals to purchase their citizenship.
As you may have guessed, there is no such thing as a shop for citizenships. You can’t walk in, browse through citizenships and pick the one that suits you the most. But, you can invest in some countries, and in return, they will gladly give you their citizenship and the passport on a plate. Although it is called “citizenship by investment”, we know that it is basically a pure selling/buying transaction. In some countries, you don’t even have to set foot in the country, and they will give you citizenship. Just bring the cash, and get your picture for the passport. Depending on the country the investment cost differentiates whether you are applying for yourself, for yourself and your spouse or your entire family. You can choose the package that suits you the most and get a discount. There are some countries that let you choose between an investment and donation to the country’s fund. Since this is such a lucrative business, you won’t find these countries on the lists like 10 easiest countries to immigrate to.
Now, some of you may ask, why would one want to buy a citizenship? Well, because you can get many benefits that your native citizenship maybe can’t offer. You will get the ability to travel more freely with these citizenships, avoid high taxes, etc. This, however, shouldn’t be confused with golden visas that some countries, even The United States offer. With golden visas, you only get the residency, but with these investments, you get full citizenship that can be inherited.
Citizenship by Investment is particularly popular among the wealthy individuals whose native countries are hit by some sanctions or don’t rank high in passport rank. It is important to notice that these arrangements are often made as a second citizenship, and they don’t need the applicant to renounce its native one. Each country that sells citizenship like this does an extensive background check and requires you to have a clean criminal record.
To find out the 7 cheapest countries that sell citizenship, we looked into the graphic made by WE Forum. There are 6 countries that offer immediate citizenship, and others offer residency benefits but require 5 to 8 years for a person to be qualified for full citizenship. With some additional research, we discovered one more country that offers an opportunity for buying an immediate citizenship. After that, we ranked them in order of minimal cost required. Prepare your money and let’s have a look at your new countries.
7. Cyprus
Citizenship Cost: $2.7 million
Cyprus is a beautiful, advanced and highly developed country. It is located in the Mediterranean Sea, being close to Europe, Asia, and Africa. The only thing that spoils the idyllic image of the country that ranks 7th in our list of cheapest countries that sell citizenship is the fact that it’s divided into two parts. The more developed and desirable south part is a member of the European Union while the northern part belongs to The Turkish Republic of Northern Cyprus that isn’t recognized as a country. The point is, the southern part is one that should interest you. If you want to get Cyprus citizenship, you better prepare for heavy spending. There are various ways you can obtain citizenship of Cyprus by investment. They all include investing €2 million in stock, bonds, properties or business located on the territory of Cyprus as well as purchasing €500,000 worth residential property. This sums up closely to $2.7 million. Previously, the investment amount was €5 million, but after the revision on October 13th, 2016, the amount was lowered. The benefits of holding a citizenship of Cyprus include the ability to work, travel and study in the EU countries as well as visa-free traveling to 159 countries. You don’t have to live in Cyprus, but visiting once in 7 years is a must.
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6. Malta
Citizenship Cost: $1.25 million
Located in the Mediterranean Sea, this island that ranks 6th in our list of cheapest countries that sell citizenship is one of the smallest yet densely populated countries in the world. If you want to be a citizen of a country with beautiful beaches and warm climate, this is the country for you. Of course, deep pockets are a must. When started, Individual Investor Programme Malta that offers citizenship in return for investment was capped at 1,800 applicants. While there are already 1,100 percipients in the program, there are no plans to make the cap higher when it’s reached. The benefits of having Malta citizenship, besides safe and steady political climate, include being able to travel visa free in 160+ countries that include USA and Canada. You will also obtain EU citizenship that gives you the possibility to work, study and travel freely in all countries of the EU. The citizenship of Malta comes at a cost of €1.15 million or $1.25 million for a single person. This includes non-refundable €650,000 payment as a contribution to National Development and Social Fund, buying a property worth at least €350,000 and keeping the property for at least 5 years and finally €150,000 investment in bonds or stock while keeping the investment for 5 years. The whole process takes 12 months, after which you get the passport. Your family can also obtain citizenship for €25,000 to €50,000 contribution per family member.
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5. Saint Kits and Nevis
Citizenship Cost: $250,000
Let’s say you don’t want to be near Europe and you are a more of Caribbean person. Then you should consider Saint Kits and Nevis, a country that ranks 5th in our list of cheapest countries that sell citizenship and consists of two islands and makes a great vacation spot. The islands are covered in tropical forests, and the most of the population lives close to the beaches. Saint Kits and Nevis citizenship by investment program started in 1984 and is the longest running of this kind. There are two options that can grant you country’s citizenship. The first one is a non-refundable $250,000 donation to the Sugar Industry Diversification Foundation. The second one is $400,000 real estate investment. Of course, donation and investment include various other processing costs. If you want citizenship for your family members, it will cost you $50,000 per person. The best thing is that you don’t even have to visit Saint Kits and Nevis to sort this all out. With Saint Kits and Nevis passport, you will be able to travel visa – free to 132+ countries including members of EU Schengen space as well as the UK, Ireland, and Switzerland, but not the United States and Canada.
4. Antigua and Barbuda
Citizenship Cost: $200,000
Another Caribbean country on our list of 7 cheapest countries that sell citizenship, Antigua and Barbuda also consists of two major islands alongside numerous other smaller ones. It offers almost the same tropical benefits like its close neighbor, Saint Kits and Nevis, but for a smaller cost. The first option is committing to non-refundable $200,000 investment to the National Development Fund. The second is making a $400,000 investment in one of preapproved real estate projects and holding the investments for 5 years. The third one is the most expensive one and includes $1.5 million investment into a selected business. After obtaining citizenship, you have to spend at least 5 days in the country during 5 years to maintain it. The Antigua and Barbuda passport give you a benefit of traveling visa – free to 134 countries including the EU Schengen Area, the UK, and Canada.
3. Saint Lucia
Citizenship Cost: $200,000
Saint Lucia ranks 3rd in our list of cheapest countries that sell citizenship. It holds the similar look and feels like all other Caribbean islands that are featured on our list. Seeing that its fellow island countries generate substantial revenue due to citizenship by investment programs, Saint Lucia launched the similar program in 2015. The difference between these and Saint Lucia’s programs is that it requires a minimum of $3 million net worth for the applicants. The single applicant is required to make a non-refundable contribution of $200,000 to the National Economic Fund or purchase a property worth $300,000 and hold the ownership for 5 years. To be eligible, the applicant can also invest $3.5 million in a government approved project while creating 3 or more jobs. A single applicant may donate $235,000 for their spouse to get citizenship or $250,000 for their spouse and two children. The benefits include traveling visa free to 120+ countries including members of EU Schengen space.
2. Grenada
Citizenship Cost: $200,000
If you want to be closer to Latin America, but still have the feel of Caribbean Sea islands, then Grenada, the next one in our list of cheapest countries that sell citizenship is your pick. The country consists of main island Grenada and 6 smaller islands. Launched in 2013, Grenada’s citizenship by investment program was recognized as the ‘Best International Citizenship Programme’ in 2016. Let’s check why that is so. You can obtain citizenship of Granada by donating non–refundable $200,000 to the National Transformation Fund. The amount of the donation is almost the same for the single applicant as well as an applicant with spouse and two children under 12 years. Like in all other countries with similar programs, there are application fees that amount to this. There is also a possibility to make $350,000 the government approved investment, but in that case, the “family pack” will cost you $50,000 extra plus all the application fees. The benefits of holding Grenada’s passport include traveling visa free to 135 countries and having almost no taxes. Like Saint Kits and Nevis, you don’t even have to visit the country to get citizenship.
1. Dominica
Citizenship Cost: $100,000
We came to the end of our list of 7 cheapest countries that sell citizenship with, you’ve guessed it, one more Caribbean island. Dominica is located between Guadeloupe and Martinique, offering true tropical island experience for a small price. To get the citizenship of Dominica, you either need to make a donation of $100,000 to Government Fund or invest $200,000 in government designated real estate property. If you have a spouse, the donation will be $175,000 while the family package costs $200,000. For real estate investment, the applicant will have to pay a fee of $50,000 for himself, $25,000 for a spouse and $20,000 for each child younger than 18. With Dominica’s citizenship, you will get a passport that will ensure you can travel visa free to 115 countries including EU Schengen, the UK, and Hong Kong.
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