High-net-worth individuals in developing countries who want to diversify their investment portfolio with a second passport are drawn to citizenship-by-investment programs.
A second passport gives you more freedom and visa-free travel options. The market for CBI passports has grown to be worth $5 billion annually, and the market for Golden visas is worth another $25 billion.
As of 2023, the market for investor residence and citizenship was valued at $30 billion and is expected to keep expanding.
The phrase “jus pecuniae” was first used by Joachim Stern in 2011 to refer to obtaining citizenship through financial donations and to characterize the administrative costs associated with citizenship applications.
In 1984, St. Kitts launched the first citizenship-by-investment program. Dominica followed in 1993, and it wasn’t until 2014 that a large number of additional nations joined the CIP club and the market for investment citizenship gathered steam, resulting in the creation of a $2 billion business.
Along with Malta and Cyprus in Europe, St. Lucia and Vanuatu recently entered the market for citizenship by investment.
Offering citizenship in exchange for investment has reportedly proven successful for certain small Caribbean republics, according to an IMF article.
These programs’ significant cash infusions have boosted GDP and employment. Inflows into St. Kitts and Nevis’s public sector alone increased to around 25% of GDP in 2013.
Citizenship by investment is a developing phenomenon, according to a different IMF article.
A significant rise in wealthy people interested in greater global mobility and fewer travel obstacles caused by visa restrictions, which became more onerous after the terrorist attacks of September 11, 2001, has been brought on by the rapid growth of private wealth, particularly in emerging market economies.
As a result, initiatives known as “citizenship-by-investment” or “economic citizenship” have recently proliferated, enabling high-net-worth individuals from underdeveloped or rising economies to lawfully get passports that facilitate international travel to Europe and the Schengen Area.
As Henley and Partners Chairman Christian Kalin puts it, “A second citizenship is like an insurance policy for the twenty-first century.”
The advantages of having a second passport include safety and security in another nation.
• Freedom to move around and travel without a visa (visa waiver) • Ideal present for your family passing citizenship down through the generations.
• A backup plan for offshore asset protection
• Essential for family offices, bankers, and hedge fund managers in an investment portfolio
• Protection against conflict and political issues, as well as safety and privacy.
• Safeguard your wealth abroad in a nation with a strong currency.
Read also about Cheapest Citizenship To Buy 2022 or about Citizenship By Investment Meaning
• Dual citizenship, gaining global citizenship and extending freedom on a global scale.
• Children receive top-notch instruction at the best universities overseas.
• Possibility to set up a second house by investing in foreign real estate markets.
• Tax-free income planning for your global income
• Ease of conducting business • Passport is a contemporary insurance coverage for the twenty-first century
The primary reason why these “citizen by investment” programs have become so well-liked recently is that citizenships are granted quickly—within two to three months—without a trip to the country and with no residency requirements. Malta and Cyprus are the exceptions, requiring one year of residency prior.
Countries Offering Residency Or Citizenship By Investment
| Country | Price USD/EUR | Citizenship / residency | Investment | Time (months) | Visa free |
| Antigua and Barbuda | $100,000 | Citizenship | Donation / Real estate ($200k) | 3 | 150 |
| St Kitts and Nevis | $150,000 | Citizenship | Donation / Real estate ($200k) | 3 | 157 |
| Vanuatu | $130,000 | Citizenship | Donation / Real estate ($200k) | 2 | 135 |
| Grenada | $150,000 | Citizenship | Donation / Real estate (200k) | 3 | 144 |
| St Lucia | $100,000 | Citizenship | Donation / Real estate ($300k) / Bonds ($250k) | 3 | 146 |
| Montenegro | €250,000 | Citizenship | Donation + Property | 3 | 123 |
| North Macedonia | €200,000 | Citizenship | Private investment | 3 | 125 |
| Moldova | €100,000 closed | Citizenship | Donation / RE | 3 | 120 |
| Cyprus | €2,000,000 closed | Citizenship | RE/ Bonds | 4 | 150+ |
| Dominica | $100,000 | Citizenship | Donation / Real estate (200k) | 3 | 144 |
| Portugal | €280,000 | Residency | Real Estate | 6 | 187 |
| Greece | €250,000 | Residency / Golden visa | Real Estate | 6 | 185 |
| Cambodia | $200,000 | Citizenship | Business | 4-6 | 53 |
| Samoa | $1,100,000 | Citizenship | Business | 20 | 130 |
| Egypt | $250,000 | Citizenship | Real estate | 3 | 52 |
| Jordan | $1.5m | Citizenship | Capital | 12 | 52 |
| United Kingdom | £2m (closed) | Residency | Share Capital | 1 | 186 |
| Spain | €500,000 | Residency | Real Estate | 3 | 189 |
| Italy | €250,000 | Residency | Startups | 3 | 189 |
| Latvia | €250,000 | Residency / Golden visa | Bonds / Property | 3 | 181 |