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What are the Top Countries for Second Citizenship?

Passport Legacy > General  > What are the Top Countries for Second Citizenship?

What are the Top Countries for Second Citizenship?

Second, Citizenship in certain countries can be gained through investing money in the local economy, such as through the purchase of real estate or stocks, the establishment of a business, or the creation of jobs. This type of citizenship is referred to as Citizenship-by-Investment.

Under the Citizenship-by-Investment, sometimes you get to travel visa-free without even needing to know the country’s language or even having to stay in the country. For some countries, second passports are easier and faster to obtain than the others.

Benefits of a Second Citizenship:

TRAVEL VISA-FREE

A secondary passport from a Caribbean or a European country enables you to travel visa-free to more than 135 countries across the globe.

DO BUSINESS GLOBALLY

By obtaining a secondary citizenship by investment, you will be able to travel visa-free on short notice and make use of the global business opportunities.

GET DUAL CITIZEN STATUS

When you are legally recognized as a citizen of two or more countries, you get to stay away from political issues and wars and gain better safety as well as privacy.

SECURE YOUR CAREER

Acquiring second citizenship in European countries enables you and your immediate family members to study, work, or live anywhere in Europe.

THE PLAN-B

Dual citizenship enables you to ensure the safety and security of your family by offering you an opportunity to migrate to another country once citizenship is granted.

LIVE THE HIGH LIFE

Give yourself and your family the luxuries of life and upgrade your lifestyle too. Get access to world-class healthcare and education for your family.

PAVE THE WAY FOR FUTURE GENERATIONS

Your investment can grant ample benefits to your future generations as many secondary citizenship programs offer citizenship through descent.

AVAIL TAX BENEFITS

You can benefit from favourable tax structures such as zero capital gains tax, inheritance tax, and net worth tax by making a smart investment choice,

Here are the Top Countries for Second Citizenship:

(1) St. Kitts and Nevis

The Citizenship-by-Investment Program in St. Kitts and Nevis is one of the world’s oldest programs. This passport is widely recognised and allows its holder visa-free travel to 154 countries across the world, including the European Union, the United Kingdom, Russia, and almost all of South America.

Currently, there are two investment categories:

  • Make a $150,000 US donation to a Sustainable Growth Fund for a single applicant or a family of up to four people.
  • Purchase a $200,000 U.S. property for seven years or a $400,000 U.S. property for five years, which will provide full citizenship to the applicant and any family members after payment of processing costs.

Citizenship Approval: 90 days

Legal Aid: Even if the current policy changes, granted citizenship cannot be readily withdrawn.

Residency Requirement: Not required

(2) Antigua and Barbuda

Dual citizenship is recognized in Antigua and Barbuda, which can be beneficial for business expansion and tax reduction. Dual nationality is permitted, and there is no requirement to stay for an extended period. The passport of Antigua and Barbuda allows visa-free travel to over 151 countries, including the Schengen zone, the United Kingdom, South Africa, Hong Kong, Singapore, and others.

Currently, there are two investment categories:

  • Make a donation of $100,000 to the National Development Fund plus a $30,000 processing fee. An additional $15,000 per application for families of more than 4 members is applicable.
  • Acquire property in a pre-approved real estate development area for a minimum of US$200,000.

Citizenship Approval: 90 days

Legal Aid: Granted citizenship cannot be revoked even if the government or current policy changes.

Residency Requirement: Spend just 5 days after becoming a citizen at any point in the next 5 years.

(3) Dominica

Dominican citizens get the same Commonwealth benefits as British nationals, including instant travel to 136 countries. There is no tax, no restrictions on profit repatriation or capital imports, and dual nationality is permitted.

The most cost-effective ways to become a Dominican citizen are:

  • You must contribute to the EDF. The government fund starts at $100,000 for a single application plus a $7,500 due diligence charge per person, or $200,000 for a family of four.
  • Make a $200,000 investment in a pre-approved real estate project. For a period of five years, the property cannot be sold. The registration and processing fees must be paid by the applicants.

Citizenship Approval: 90 days

Legal Aid: Granted citizenship is not revoked.

Residency Requirement: No need to reside

(4) Grenada

A Grenada passport entitles holders to visa-free or visa-on-arrival entry to 143 countries, including China, Hong Kong, Singapore, Russia, and the United Kingdom, as well as the Schengen Area of Europe. Grenada citizenship opens the door to obtaining a US E-2 visa and offers a favorable tax environment.

There are two categories where you can invest:

  • Contribute at least $150,000 to Grenada’s National Transformation Fund. A contribution of $200,000 for a family of four would be a good investment.
  • Spend $220,000 in a local real estate project as a co-owner for five years, which is comparatively better to what other countries need in exchange for citizenship.

Citizenship Approval: 60-91 days

Legal Aid: Law tailored to enable persons of all nationalities to obtain permanent residence.

Residency Requirement: No personal visit or residency required.

(5) Malta

Having dual citizenship in Malta comes with several advantages, including visa-free travel or on-arrival-access to 184 countries offers you the benefit of living in the pleasant climate of a predominantly English country and get the benefit of amazing business opportunities with a friendly tax environment.

The most cost-effective ways to become a Maltese citizen are:

  1. Make a donation of 650,000 euros to a government national development fund or invest 150,000 euros in stocks or bonds from the government.
  2. Purchase a minimum of 350,000 euros worth of real estate for five years, or go for a five-year rental lease of property with rent of at least 16,000 euros per year.
  3. Acquisition of governmental bonds or those listed on the Malta stock exchange for at least 150,000 euros.

Citizenship Approval: 182 days

Legal Aid: Its due diligence is the toughest in the world and you can travel freely within the whole of EU and Schengen Area

Residency Requirement: Applicants do not need to move or stay in Malta for a full year to satisfy the one-year residency requirement.

Bonus Tip:

Before applying for a residence visa, consider taking a vacation or staying at your preferred on a short-term visa. It is critical to gain a sense of a nation and its ex-pat community before making a major move.

If you want further assistance on second citizenship about the above-mentioned countries, contact Passport Legacy today!