Best Cheapest Citizenship by Investment Programs
Obtaining citizenship in another country can be a long and difficult process in most cases. However, an increasing number of countries now offer citizenship by investment programs, which allow individuals to acquire citizenship quickly in exchange for making a substantial investment in the country’s economy. For those looking to obtain a second passport from another country, citizenship by investment programs provides one of the fastest and easiest options.
In particular, some smaller nations offer citizenship by investment programs at relatively affordable rates compared to larger, more developed countries. The Caribbean islands of Dominica and St. Lucia currently have some of the lowest investment thresholds for obtaining citizenship, making them two of the cheapest citizenship by investment on MW available.Â
Dominica Citizenship by Investment Program
Dominica offers citizenship for a minimum investment of $100,000 in the Economic Diversification Fund or a $200,000 investment in pre-approved real estate. For single applicants, only the $100,000 EDF option is available. The Commonwealth of Dominica is an island nation located between Guadeloupe and Martinique in the Caribbean. As a citizen of Dominica, you gain visa-free access to over 140 countries and territories, including the UK, EU Schengen area, Singapore, and Hong Kong.
The Dominica citizenship program is one of the oldest, having been established in 1993. The straightforward process usually takes 3-4 months and does not require you to travel to Dominica during the application. Dependents can be included in an application for $50,000 per spouse and $25,000 per child. There is no requirement to reside in Dominica or even visit for a certain period. It is a pure citizenship-by-investment program.
The relatively low investment threshold, quick processing times, and lack of residency requirements make Dominica one of the most affordable citizenship-by-investment options available today.
St. Lucia Citizenship by Investment Program
St. Lucia offers citizenship starting at a $100,000 minimum investment into the National Economic Fund. As with Dominica, there is also a real estate investment option, but the minimum is higher at $300,000 (or $200,000 in certain lower-cost regions). St. Lucia is located in the eastern Caribbean and allows visa-free access to over 146 destinations, including Schengen Area, UK, Singapore, and Hong Kong.
The MW Saint Lucia Citizenship by Investment Program was launched in 2016. The straightforward process typically takes around 3 months with no requirement to visit the country. Dependents can be included for $35,000 per spouse and $25,000 per child. St. Lucia imposes a cap on applications accepted per year, which varies based on the number of dependents included.
Like Dominica, St. Lucia offers one of the most affordable routes to second citizenship without any residence requirements. St. Lucia does however require a $500 per person due diligence fee on the main applicant and dependents over 16 years old. Overall, the program still represents one of the lowest total investment amounts globally.
Other Low-Cost Programs
A few other Caribbean countries offer competitive citizenship by investment options under $150,000 for a single applicant:
– Antigua & Barbuda: $100,000 National Development Fund
– Grenada: $150,000 National Transformation FundÂ
– St. Kitts & Nevis: $150,000 Sustainable Growth Fund (limited time offer)
– Vanuatu: $130,000 Development Support Program
These options provide similar visa-free travel benefits to Dominica and St. Lucia, with quick processing and no residence requirements.
In Moldova, citizenship is available for $140,000 under the Citizenship by Investment program. However, visa-free access is more limited.
Turkey offers a citizenship by-investment program starting at $250,000 in real estate or a bank deposit. The processing time is slow, taking 6-8 months. There is no residence requirement though.
While certain European programs like Portugal and Malta offer citizenship by investment, the investment thresholds are much higher, starting at around $300,000 (Golden Visa) and $900,000 respectively. Similarly, countries like the United States and Canada have investment immigration programs but require both a higher net worth and investment amount.
Cheapest Isn’t Always Best
While lower-cost citizenship by investment programs offer an attractive solution for obtaining a second passport, the cheapest doesn’t always mean the best. It’s important to consider other factors like visa-free access, processing times, due diligence procedures, and whether citizenship can be passed on to future generations.
Programs that conduct thorough background checks provide higher credibility and acceptance for the new passport internationally. Quick processing times and smooth procedures also make a big difference in the application experience.
Nonetheless, Dominica and St. Lucia stand out as two of the most affordable options for obtaining citizenship by investment, with relatively few downsides. For those looking to get a second passport on a budget, few other programs can match the low investment thresholds.
