Have you always liked the idea of a second passport but thought it was too far out of your reach? Good news! More and more countries are allowing individuals to BUY citizenship through a citizenship investment programme.
While some countries ask excessive amounts – such as Austria which asks for an investment up to million – other countries provide a far more affordable, fast-tracked route to a second passport.
Below is a list of the seven cheapest countries where citizenship is for sale,made by Yahoo! Finance.
Dominica
As the least expensive of the Caribbean countries, you can become a citizen of Dominica by local minimum investment of XCD0,000 (A,256) – or XCD0,000 for a family of four.
Alternatively, you can opt to make a real estate investment for a minimum of XCD0,000.
There is no residency requirement and the country allows dual citizenship.
St. Kitts and Nevis
For a non-refundable contribution of XCD0,000 to the local sugar industry, or a minimum investment of XCD0,000 on a property is all it takes to become a citizen of this Caribbean island.
You never need to even visit the country or take a citizenship test – after paying the money or for a property, you’re a new passport holder and are good to go.
The St. Kitts passport will get you visa-free travel to 132 countries. However, in November of 2014, Canada announced it would no longer allow St. Kitts citizens to enter without a visa.
Antigua and Barbuda
Antigua and Barbuda announced its citizenship investment programme in 2013, with similar parameters to the St. Kitts and Nevis model – a XCD0,000 property investment or XCD0,000 charity donation.
As of April 14, 2015, a second passport from Antigua gives you visa-free travel to Canada, where a passport from St. Kitts does not.
Grenada
Grenada reopened its citizenship by investment in 2014, having closed it from 2001 through 2013.
The current version requires an investment of XCD0,000 in an approved real estate project.
A second passport from Grenada allows access to 110 countries, including the United Kingdom, Hong Kong, South Korea, Singapore, Panama, and most British Commonwealth nations – it does not give visa-free travel to Canada or the US.
Bulgaria
For those with a spare €511,292 (A8,890) – or €1,022,584 for the accelerated two-year procedure -Bulgaria is a viable option for a second citizenship.
Applicants have to deposit the funds into a Governmental Bond Portfolio for an investment period of five years with no further payment required. At the end of the five-year period, the full amount will be returned to the investor without any accrued interest.
Alternatively, for a fast-track option, investors to apply for citizenship in just two years by doubling their investment.
Since Bulgarian rights equate to EU rights , this passport is a ticket to live and work freely anywhere in the EU. It could be used as an interim passport to eventually get a British or German citizenship.
Malta
This European country also offers a fast track passport, for a €650,000 sum.
Like Bulgaria, Maltese citizenship gives you the right to live and work anywhere in the European Union and to travel visa-free to the United States. Malta and the US have a Visa Waiver program, which operates a bit differently from other systems.
A Malta passport also gives you access to Switzerland and visa-free travel to 166 countries. However, the program is capped at 1,800 passports and there’s a requirement to “reside” in Malta for a reasonable amount of time over the year.
Cyprus
Cyprus is the third smallest nation in the European Union and made it on to the world stage by seizing wealthy foreigners cash to bail out their banks during their 2013 recession.
In order to bring back international deposits, and ensure these investors wouldn’t face a similar fate, Cyprus offers passports and citizenship with investments of €2 million in real estate, in return giving out citizenship within just six months.
A second passport holder will receive the same rights and protections of any Cyprus citizen.