If you’re not familiar with the term ‘citizenship by investment’ (CBI) you might be surprised to learn that several countries offer these CBI programmes. These programmes work by allowing individuals to invest in the country in exchange for second citizenship in that country. Each programme is different and whilst some can be quite costly, there are a host of countries with extremely attractive and affordable offers on the table. Let’s look at the cheapest countries to get citizenship in 2023.
Also Read: Benefits of dual citizenship
How exactly does it work?
Citizenship by investment (CBI) programmes offer the opportunity for reputable individuals to legally obtain a new citizenship in return for an investment in the economy of the host country.
Although each programme has its own requirements, here are some of the most common ones for applicants to meet:
- Aged 18 or above
- Clean criminal record
- Invest in a government-approved option, for example a government bond, a government fund or a real estate option.
- Ability to show the legal source of the funds invested
Only once all the requirements are met will the citizenship application be approved by the host government. Various due diligence checks are also in place to ensure the credibility of the applicants.
Also Read: Due diligence tops the list in maintaining CBI integrity
Who can apply?
Anyone aged 18 or above, with a clean criminal record and the ability to invest in one of the country’s government-approved investment options.
It’s also important to take into account the applicant’s country of origin and its laws around dual citizenship. If you’re not sure how dual citizenships work or you’d like to see which countries offer CBI programmes, then you might want to give this post a read: How many citizenships can you have?
Which second citizenship is best?
When deciding on a CBI programme, you’ll want a programme that best fits your budget, family, and business needs.
The most popular CBI programmes currently available worldwide include Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, Saint Lucia, Malta, and Turkey.
Cheapest countries to get citizenship in 2023
For the cheapest CBI programmes worldwide, see the countries listed below:
- Saint Lucia
- Dominica
- Grenada
- St. Kitts and Nevis
- Antigua and Barbuda
Saint Lucia
Saint Lucia fast becoming the ideal CBI location. An idyllic spot for nature seekers, history buffs, and relaxation-seekers, Saint Lucia offers citizens all of the tropical benefits of the Caribbean.
Minimum investment: US$100,000
Also Read: Saint Lucia Citizenship by Investment
Dominica
For those who meet Dominica’s citizenship requirements, the idyllic Caribbean Island offers one of the best standards of living in the region. Dominica is politically and economically stable, with a low crime rate and rich investment opportunities.
Minimum investment: US$100,000
Also Read: Dominica Citizenship by Investment
Grenada
Grenada is renowned for its immaculate shorelines, luxuriant tropical forests, and clear waters. It also has a thriving cultural scene, fascinating history, exciting music, and mouthwatering cuisine. Due to these factors, Grenada is a well-liked destination for those seeking a tropical paradise to call home.
Minimum investment: US$150,000
Also Read: Grenada Citizenship by Investment Programme
St. Kitts and Nevis
Home to cloud-shrouded mountains and pristine white beaches, this beautiful twin-island Federation lies in the middle of the Atlantic Ocean and the Caribbean Sea. In fact, St Kitts and Nevis has one of the most sought-after citizenship programmes in the world and offers high-net-worth-individuals a plethora of benefits.
Minimum investment: US$125,000
Also Read: St Kitts and Nevis Citizenship by Investment
Antigua and Barbuda
This country in the Caribbean region has been providing citizenship by investment since 2013. In fact, it’s considered one of the newest, yet one of the most efficient CBI programmes in the Caribbean. HNWIs from around the world who invest in this CBI programme can enjoy lifetime benefits.
Minimum investment: US$100,000
Also Read: Antigua and Barbuda Citizenship by Investment
A major benefit of these Caribbean CBI programmes is that there are generally no minimum number of days that you need to live there or residency requirements. In fact, you do not even need to visit the country beforehand, it can all be done online, the citizenship lasts for life and can be passed down for future generations.
Caribbean country citizenships are generally the simplest and most affordable to obtain and investors get to live in some of the most picturesque destinations in the world.
Also Read: Five most luxurious places to get dual citizenship
