List Of Cheapest Countries To Get A Second Passport

Investing in a number of countries can lead to citizenship, which is also known as a “Golden Visa.”

Citizenship programs work by letting you buy property in a foreign country or put a certain amount of money in a recognized investment fund. Sometimes, you can get a second passport in as little as three months in return.

However, most citizenship investment programs are very expensive. To draw new investors, some countries offer programs that are less expensive.

Cheapest Second Passport

The countries listed below offer one of the cheapest second passport programs worldwide:

• The Caribbean countries
• Vanuatu
• Turkey
• Malta

The Caribbean Countries

You can find the second cheapest passport in the world in the following Caribbean countries:

• St. Lucia. Among the other Caribbean countries with Golden Visas, St. Lucia offers one of the cheapest investment options for the total cost— including the fees. The minimum investment for St. Lucia is USD 100,000, but if you have enough financial resources, you also have the option to invest USD 3.5 million for an enterprise project.
• Antigua and Barbuda. Antigua and Barbuda’s cheapest investment option is the National Fund, with a minimum of USD 100,000. But, in comparison to St. Lucia, the processing and application fees are costly, up to USD 30,000 or more.
• St. Kitts and Nevis. St. Kitts provides a citizenship program by investment slightly more costly than St. Lucia’s at a minimum of USD 150,000 in an investment fund.
• Grenada. With the same amount of the minimum investment as St. Lucia— at USD 150,000— Grenada’s citizenship gets more expensive with the number of applicants you add. Not to mention the high cost of processing fees at a minimum of USD 50,000.

Vanuatu

• To get Vanuatu’s low-cost second passport, you must deposit a minimum of USD 130,000 in an investment fund. The donation price rises to USD 180,000 for a family of four. However, keep in mind that the investment amount excludes processing and due diligence fees.

Turkey

• If you can buy real estate in Turkey for USD 250,000, you are eligible for the country’s citizenship by investment program. While Turkey’s prior investment was USD 1 million, it is now one of the most affordable second passport options in Europe. Once your investment is complete, you will obtain your new passport in less than a year. Following that, you will carry a second European passport.

Malta

• Malta’s second passport is more expensive, however it is still quite inexpensive in comparison to other European countries, costing USD 750,000. You can alternatively choose a cheaper option, which requires an investment of USD 600,000, but this option permits you to become a citizen of Malta after three years, whereas the first option offers you citizenship in one year. Remember that you must make both investments in a national fund.

How Can I Get Citizenship Via Investment?

To obtain citizenship through investment, you must first have the financial resources to make and maintain your contribution for several years. Then you can check into the application process, which varies by country.

Most Caribbean countries need you to employ a recognized professional agency and a legal representative to apply on your behalf and act as a liaison between you and the Citizenship by Investment Unit.

Other countries may let you apply on your own. In this instance, you must compile the necessary paperwork, submit your investment application, and visit the country to get your citizenship–if your application is approved.

Benefits of a Second Passport

One of the most incredible benefits of having a second passport is the option of traveling visa-free to more countries than you would with only one passport. But, other benefits also include the following:

• The option to gain citizenship in a foreign country within months.
• Access to the EU.
• Low to no tax costs.
• The option to bring your family with you.
• The benefits of having dual citizenship.

What Countries Allow Dual Citizenship?

The following countries allow dual citizenship:

• Albania
• Iceland
• Romania
• Angola
• Iraq
• Russia
• Armenia
• Ireland
• Rwanda
• Australia
• Israel
• Sao Tome and Principe
• Belarus
• Italy
• Senegal
• Belgium
• Kenya
• Serbia
• Burundi
• Kosovo
• Sierra Leone
• Cabo Verde
• Latvia
• Slovakia
• Comoros
• Lebanon
• Spain (only Iberoamerican states)
• Ivory Coast
• Luxembourg
• Sri Lanka
• Cyprus
• Mali
• Sudan
• Denmark
• Malta
• Sweden
• Djibouti
• Moldova
• Switzerland
• Fiji
• Morocco
• Syria
• Finland
• Mozambique
• Czechia
• France
• New Zealand
• Tonga
• Gabon
• Niger
• Tunisia
• Gambia
• Nigeria
• Uganda
• Germany
• North Macedonia
• United Kingdom
• Ghana
• Norway
• Vanuatu
• Greece
• Philippines
• Zambia
• Hungary
• Portugal

Most countries with citizenship programs do not prohibit dual citizenship. Still, your home country may require you to give up your nationality; check with your country of citizenship to see if dual citizenship is permitted.

Other countries may permit dual citizenship only under certain conditions, such as citizenship by descent, barring citizenship by investment programs.