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April 14, 2021

5 Countries Offering the Fastest and Most Affordable Second Citizenship Programmes

Cost-effective Second Citizenship Programmes
rihab saad

Author:

Rihab Saad

General Manager

Next Generation Equity

Citizenship-by-investment (CBI) has proven to be a valuable asset to individuals and families who want to have a Plan B and secure their future, as well as enhance the business, travel and lifestyle opportunities available to them.

If you are looking for CBI programmes with the shortest processing times and the lowest investment requirements, then these are the top 5 programmes you should consider:

Here are some of the most sought-after citizenship-by-investment programmes in the world today:

1. Dominica

With a processing time of only 3 to 4 months, the Dominican CBI programme is one of the fastest routes to gaining a second citizenship. In addition, the programme allows dual citizenship, so applicants are not required to renounce their original nationality.

Dominica’s CBI programme offers two investment options: Economic Diversification Fund (EDF) contribution and real estate investment.

Under the EDF option, the main applicant can gain Dominican citizenship with a minimum non-refundable contribution of only USD 100,000. For the main applicant and spouse, the required contribution is USD 150,000, while applications covering the main applicant, spouse and 2 qualifying dependents (excluding siblings) require a contribution of USD 175,000.

Investors can also make a minimum investment of USD 200,000 into an approved real estate project to secure Dominican citizenship.

Dominican passport holders can travel visa-free to over 130 countries, including Schengen states, the United Kingdom and most British Commonwealth member countries.

Investors also enjoy corporate tax incentives, full exemption from import duties, export allowance and tax relief benefits.

2. Saint Kitts and Nevis

Launched in 1984, the Saint Kitts and Nevis CBI programme is the first second citizenship programme in the world. Today, it is one of the fastest ways to obtain a second passport, with an average 4-month processing time.

The Saint Kitts and Nevis CBI programme is also renowned as one of the most suitable options for families, as it only requires a minimum investment of USD 150,000 for a family of up to 4. Qualified dependents can be added to the application for an additional contribution of USD 10,000 each.

Applicants who want to invest in real estate can make the following investments into pre-approved real estate projects:

  • USD 200,000 with a 7-year holding period
  • USD 400,000 with a 5-year holding period

Saint Kitts and Nevis citizens enjoy visa-free travel to more than 150 countries, including Schengen states. They are also exempted from taxes on income, capital gains, gifts and inheritance.

Furthermore, entrepreneurs who hold Saint Kitts and Nevis passports can maximise tax-free trade with Canada, as well as duty-free trading across the Caribbean region.

3. Saint Lucia

Saint Lucia’s CBI programme grants second citizenship in 4 to 6 months. Additionally, an applicant can receive their permanent residency card even without visiting or residing on the island.

Applicants can obtain Saint Lucian citizenship with a non-refundable contribution of USD 100,000 to Saint Lucia’s National Economic Fund. The key advantage of the Saint Lucian second citizenship programme is that the application can be extended to the main applicant’s spouse, children, parents and siblings.

The total contribution required for a family of up to 4 is only USD 150,000. For each additional dependent, a further investment of USD 25,000 can be made.

Real estate investment is also an option. Investors can invest a minimum of USD 300,000 in an approved real estate project to qualify for Saint Lucia’s CBI programme.

Saint Lucian citizens can travel visa-free to over 130 countries, including the UK, all Schengen states and British Commonwealth member countries. They also benefit from an attractive tax regime: 0% tax on capital gains, foreign income, gifts, inheritance, personal income and wealth.

4. Antigua and Barbuda

Successful applicants can obtain their Antiguan and Barbudan passports in only 4 to 6 months, without the need to visit or reside in the Caribbean nation. However, a minimum residency requirement of just 5 days during the first 5 years of citizenship must be met.

Antigua and Barbuda’s CBI programme is also an ideal option for families. Their National Development Fund requires only USD 100,000 for a family of up to 4 and USD 125,000 for a family with 5 or more dependents.

Antigua and Barbudan citizens have the freedom to travel visa-free to over 140 countries, as well as enjoy tax benefits such as 0% tax on foreign income, estate and capital gains.

For businesspeople, they can explore business opportunities and duty-free trading in the Caribbean, as well as benefit from the country’s fixed USD currency.

5. Grenada

Grenadian citizenship can be granted within 4 to 6 months with a minimum USD 150,000 contribution to the country’s National Transformation Fund.

For a family of up to 4, which includes the spouse and children only, the mandatory contribution is USD 200,000. Other dependents, such as the main applicant’s parent, grandparent and sibling, can be added to the application.

Another option is to invest in Grenada’s profitable real estate market. Applicants can choose to invest a minimum of USD 220,000 in an approved real estate project to qualify for the Grenadian CBI programme.

In addition to visa-free travel to over 140 countries, Grenadian passport holders can easily apply for the United States E-2 non-immigrant visa, which grants the right to live and work in the US.

Additionally, the children of Grenadian citizens get a 90% reduction in tuition fees at Saint George’s University, a world-renowned university for medical programmes.

If you are interested in any of these citizenship-by-investment programmes, our Citizenship Experts can guide you in choosing the most suitable programme for you and your family.

Next Generation Equity is one of the leading, trusted and government-approved facilitators of second citizenship applications across Europe and the Caribbean. 

We specialise in delivering proven solutions, sound advice and practical support for clients from around the world, guiding them into investing in the right second citizenship or alternative residency.

To learn more about the suitable citizenship-by-investment programmes for you and your family, book a free consultation with our experts by filling out the form below.  

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