How To Find The Best Citizenship-By-Investment Option

For You And Your Family

Obtaining a second passport could be one of the best investments you’ll ever make. And citizenship-by-investment is an excellent shortcut that will help you get
one quickly. This graphic will give you an overview of available options. And since everyone’s situation and preferences are different, consider this a tool to assist you
make a selection that’s best for you. To learn more about citizenship by investment and how to decide whether it’s right for you, please read our in-depth article on
this second passport option.

CITIZENSHIP-BY-INVESTMENT PROGRAM COMPARISON

This table gives you an overview of the available citizenship-by-investment options and their cost.
Use it to compare the programs and get a better idea of which ones are most suitable for your situation and preferences.

SM SM POTENTIAL COST FOR COST FOR COST FOR

VISA-FREE ACCESS TO ACCESS TAXATION OF
PASSPORT COUNTRY PASSPORT PASSPORT INVESTMENT OPTION RETURN OF SINGLE FAMILY FAMILY
COUNTRIES SCHENGEN TO THE US INDIVIDUALS
GRADE RANK INVESTMENT7 PERSON1 OF 41,2 OF 61,2
CARIBBEAN
Donation 7 $109,500 $167,500 $199,500

3 $339,500 $372,500 $384,500

Real Estate10 $129,500 $162,500 $174,500
Saint
Lucia
B- 82 123 3 7 Residence Based5
$287,500 $292,500 $307,500
COVID-19 Bonds 9, 10 3 $37,500 $42,500 $57,500

3 $509,500 $567,500 $619,500

Govt. Bonds10 $9,500 $17,500 $19,500

Antigua &
Donation 7 $137,500 $145,000 $165,000
Barbuda
B 76 129 3 7 No Income Tax6
$237,500 $245,000 $275,000
Real Estate10 3 $97,500 $105,000 $135,000

St. Kitts
Donation 7 $157,500 $206,500 $226,500
& Nevis
B 71 131 3 7 No Income Tax6
$242,550 $282,700 $302,800
Real Estate10 3 $102,550 $142,700 $162,800

Donation 7 $158,000 $220,000 $274,000

Grenada B 61 122 3 7 Residence Based5
$278,000 $290,000 $340,000
Real Estate10 3 $124,000 $136,000 $186,000

Donation 7 $108,500 $212,500 $262,500

Dominica B 79 118 3 7 Residence Based 5
$233,500 $247,500 $262,500
Real Estate10 3 $93,500 $107,500 $122,500

EUROPE
Combination (with $964,674 $1,051,630 $1,105,978
Partial10
property rental) $801,630 $888,587 $942,935
Malta A 24 158 3 3 Residence Based5
Combination (with Partial10 $1,258,152 $1,345,109 $1,399,457
property purchase) $752,717 $839,674 $894,022

Residential $2,352,522 $2,352,522 $2,352,522

Partial10
real estate8 $885,130 $885,130 $885,130

Cyprus Commercial $2,896,000 $2,896,000 $2,896,000

B+ 46 152 3 7 Residence Based5
real estate8 Partial10 $939,478 $939,478 $939,478

Various Partial $2,896,000 $2,896,000 $2,896,000

businesses8
$1,110,870 $1,110,870 $1,110,870
Government Bonds 3 $1,600 $1,600 $1,600
Bulgaria B+ 48 150 3 7 Residence Based5
$1,110,870 $1,110,870 $1,110,870
Business Bonds 3 $1,600 $1,600 $1,600

Real Estate $396,739 $429,348 $494,565

(Underdeveloped Partial10 $152,174 $184,783 $250,000
areas)
Montenegro B- 83 111 3 7 Residence Based 5

Real Estate Partial10 $614,130 $646,739 $711,957

(prime areas) $173,913 $206,522 $271,739

OTHER
Vanuatu B- 86 117 3 7 No Income Tax6 Donation 7 $130,000 $180,000 $205,000
$254,200 $254,200 $254,200
Real Estate 3 $2,200 $2,200 $2,200

Turkey C 97 112 7 7 Residence Based5 Bank deposit /

Investment in $517,000 $517,000 $517,000
various investment 3 $15,000 $15,000 $15,000
funds or govt bonds

Bank deposit /
Investment in
public securities/ 3 $1,500,000 $1,500,000 $1,500,000
Jordan 11 D 136 50 7 7 Residence Based 5 govt bonds
Investment in Local
Businesses 3 $1,000,000 $1,000,000 $1,000,000

None of the prices above incude the professional fee to the agent submitting your citizenship application, and/or realtor fees.

FOOTNOTES:
(1) Using currency exchange rates of $1USD=0.91 euros; $1USD=1.77 Bulgarian Lev
(2) For all-in cost calculations, a “Family Of 4” is defined as two adults with two children ages 12-15
(3) Combination of Donation, Real Estate and Government-approved Financial Instruments
(4) Combination of Real Estate, Business Project and Business Bonds
(5) Residence based taxation does NOT mean you will automatically have to pay taxes in your new homeland. Only after you become a tax resident there you will need to pay taxes on income both from within and outside of the country
(6) Countries with no income tax will not tax any of your income (domestic or foreign) even if you become a tax resient there
(7) In most European countries, the various investment options include a one-time donation to the government which is non-recuperable
(8) In Cyprus, you will be required to pay VAT on any purchase, meaning that your total investment amount could be substantially higher than the amount you see in the table
(9) This option is interest-free and available until Dec 31, 2020
(10) Smaller font stands for the total cost once the initial investment amount is returned to the applicant after the minimum holding period is over (between 3 and 7 years). For bonds, we assume that the entire investment amount is returned to the applicant. In case of RE
purchases in the Caribbean countries, we assume return of 70% of the initial investment amount, due to the overpriced nature of the approved RE projects. For RE purchases elsewhere, we assume a return of 90% of the initial investment amount.
(11) For Jordan, cost after return of investment is not presented due to insufficient public information about the program.

Visa-Free Access Comparison Of The

Citizenship-By-Investment Passports
This section shows you which countries you can visit with each passport without needing to apply for a visa. Some passports offer more visa-free countries than others,
but those additional countries may not be important to you. Use the tables in this section to find out which passport has the best global coverage for you.

VISA-FREE COUNTRIES FOR ALL PASSPORTS

The Turkey and Jordan passport is significantly worse than all other passports presented here and we don’t
FREE recommend that option. That’s why we’ve excluded it from these tables.

EUROPE AMERICAS ASIA OCEANIA AFRICA CARIBBEAN MIDDLE EAST

Andorra Liechtenstein Bolivia Cambodia Micronesia Benin Cuba Armenia
Austria Lithuania Ecuador Laos Palau Cape Verde Dominica Iran
Belgium Luxembourg Nicaragua Macau Samoa Comoros Grenada Palestine
Bosnia and Herzegovina Malta Panama Maldives Timor-Leste Guinea-Bissau Haiti
Bulgaria Monaco Peru Nepal Tuvalu Madagascar Jamaica
Croatia Montenegro Malawi Saint Kitts and Nevis
Cyprus Netherlands Mauritania St. Vincent and the Grenadines
Czech Republic Norway Mauritius
Denmark Poland Mozambique
Estonia Portugal Rwanda
Finland Romania Seychelles
France San Marino Somalia
Germany Slovakia Tanzania
Greece Slovenia Togo
Hungary Spain Uganda
Iceland Sweden Zambia
Italy Switzerland
Latvia

DIFFERENCES BETWEEN PASSPORTS

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
EUROPE
Albania 7 3 3 7 7 3 3 3 3 7
Belarus 7 3 3 7 3 3 3 3 3 3
Georgia 7 3 7 7 7 3 3 3 3 7
Ireland 3 3 3 3 3 3 3 3 7 3
Kosovo 3 3 3 3 3 3 3 3 3 3
North Macedonia 7 3 3 7 7 3 3 3 3 7
Russia 7 3 3 3 3 7 7 7 3 3
Serbia 7 3 3 3 3 3 3 3 3 7
Ukraine 7 3 3 7 7 3 3 3 3 7
United Kingdom 3 3 3 3 3 3 3 3 7 3

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
AMERICAS
Argentina 3 7 3 3 7 3 3 3 3 7
Belize 3 3 3 3 3 3 3 3 7 7
Brazil 7 3 3 3 3 3 3 3 3 7
Canada 7 7 7 7 7 3 3 3 7 7
Chile 3 3 3 3 7 3 3 3 3 7
Colombia 3 3 3 3 3 3 3 3 3 7
Costa Rica 3 3 3 3 3 3 3 3 3 3
Dominican Republic 3 3 3 3 3 3 3 3 7 3
El Salvador 3 3 3 7 7 3 3 3 7 3
Guatemala 3 3 3 7 7 3 3 3 7 3
Guyana 3 3 3 3 3 7 7 7 7 7
Honduras 3 3 3 7 7 3 3 3 7 3
Mexico 7 7 7 7 7 3 3 3 7 7
Paraguay 7 7 7 7 7 3 3 3 7 7
Suriname 3 3 3 3 3 3 7 7 7 7
United States 7 7 7 7 7 3 7 7 7 7
Uruguay 7 7 3 3 3 3 3 3 3 7
Venezuela 3 3 3 3 3 3 3 3 7 7

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
ASIA
Azerbaijan 7 7 7 7 7 7 7 7 7 7
Bangladesh 3 3 3 3 3 3 3 3 3 7
Brunei 7 7 7 7 7 3 3 3 7 7
China 7 7 7 3 7 7 7 7 7 7
Hong Kong 3 3 3 3 3 3 3 3 3 3
Indonesia 3 3 3 3 3 3 3 3 7 3
Japan 7 7 7 7 7 3 3 3 7 7
Kazakhstan 7 7 7 7 7 3 3 3 7 7
Kyrgyzstan 7 7 7 7 7 3 3 3 3 7
Malaysia 3 3 3 3 3 3 3 3 7 3
Mongolia 7 7 7 7 7 3 3 7 7 7
Pakistan 3 7 3 7 7 3 7 7 7 7
Philippines 3 3 3 3 3 3 3 3 7 3
Singapore 3 3 3 3 3 3 3 3 3 3
South Korea 3 3 3 3 3 3 3 3 3 7
Sri Lanka 7 7 7 7 7 3 3 3 3 3
Taiwan 3 7 3 7 7 3 3 3 7 7
Tajikistan 7 7 7 7 7 3 7 7 7 7
Thailand 7 7 7 7 7 3 3 3 7 3
Uzbekistan 7 7 7 7 7 3 3 3 3 7

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
OCEANIA
Australia 7 7 7 7 7 3 3 3 7 7
Fiji 3 3 3 3 3 3 3 3 7 3
Kiribati 3 3 3 3 7 3 3 3 7 3
Marshall Islands 7 7 7 7 7 3 3 3 7 3
Nauru 7 7 7 7 7 7 7 7 7 3
New Zealand 7 7 7 7 7 3 3 3 7 7
Papua New Guinea 7 7 7 7 7 3 3 3 7 3
Solomon Islands 3 3 3 3 3 3 3 3 7 3
Tonga 3 7 3 7 3 3 3 3 7 3
Vanuatu 3 3 3 3 3 3 3 3 7 3

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
AFRICA
Botswana 3 3 3 3 3 3 3 3 7 3
Burkina Faso 7 7 7 7 7 3 7 7 7 7
Djibouti 7 3 7 7 7 7 7 7 7 7
Egypt 3 3 3 3 3 3 3 3 3 3
Eswatini 3 3 7 3 3 3 3 7 3 3
Gabon 7 7 7 7 7 3 3 3 7 7
Gambia 3 3 3 3 3 3 3 3 3 3
Kenya 3 7 3 3 3 3 3 3 3 3
Lesotho 3 3 3 3 3 3 3 7 7 3
Morocco 7 7 7 7 7 3 3 3 7 7
Namibia 7 7 7 7 7 7 7 3 7 7
Sao Tome and 7 7 7 7 7 3 3 3 7 7
Principe
Senegal 3 3 3 3 3 3 3 3 7 3
Sierra Leone 3 3 3 3 3 3 3 3 7 3
South Africa 7 3 7 7 7 3 3 7 7 7
Tunisia 3 3 3 7 7 3 7 3 3 7
Zimbabwe 3 3 3 3 7 3 3 3 7 3

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
CARIBBEAN
Antigua and Barbuda 3 3 3 3 3 3 3 3 7 3
Bahamas 3 3 3 3 3 3 3 3 7 3
Barbados 3 3 3 3 3 3 3 3 7 3
Saint Lucia 3 3 3 3 3 3 3 3 3 3
Trinidad and Tobago 3 3 3 3 3 3 3 3 3 3

ANTIGUA & ST. KITTS AND

COUNTRY ST. LUCIA GRENADA DOMINICA MALTA CYPRUS BULGARIA MONTENEGERO VANUATU
BARBUDA NEVIS
MIDDLE EAST
Bahrain 7 7 7 7 7 3 3 3 7 7
Israel 3 7 3 3 3 3 3 3 3 3
Jordan 3 3 3 3 3 3 3 3 3 3
Kuwait 7 7 7 7 7 3 3 3 7 7
Lebanon 7 3 3 7 7 3 3 3 3 7
Qatar 7 3 7 7 7 3 3 3 3 7
Saudi Arabia 7 7 7 7 7 3 3 3 3 7
Turkey 3 3 3 3 3 3 3 3 3 7
United Arab Emirates 7 7 7 3 7 3 3 3 3 7

LAST UPDATED JULY 30TH, 2020