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Caribbean, Europe, News feed Date: 25 September, 2023

How to Get Second Citizenship Under $500,000 in 2024

How to Get Second Citizenship Under $500,000 in 2024

A second citizenship is more affordable than you think. It is not only for the wealthy elite and can be a reasonably-priced investment. In this article, we share the Citizenship-by-Investment programmes available in 2024 for less than half a million US dollars.

Antigua and Barbuda Citizenship by Investment is a second citizenship that costs less than $500,000.

$100,000 Antigua and Barbuda Citizenship by Investment

The first of five Caribbean Citizenship-by-Investment programmes dates back to 2013. There are four different routes to an Antigua and Barbuda passport. The most expensive option is to invest $1.5 million in a local business.

There are cheaper paths to Antigua and Barbuda Citizenship by Investment.

Donate $150,000 to the University of West Islands and, as well as second citizenship, you will secure a one-year, tuition-only scholarship for a dependant. Or invest $200,000 in designated, government-approved property developments.

The most reasonable route to citizenship by investment in Antigua and Barbuda is to contribute $100,000 to the National Development Fund. This helped to rebuild Barbuda after Hurricane Irma left her mark in 2017. The government draws on this nonprofit fund for essential island projects.

Antigua and Barbuda Citizenship by Investment is the best value for families. As you will only pay a $30,000 processing fee for a family of up to four persons. This is the cheapest-priced option available for families in the Caribbean.

Other benefits include visa-free access to 150 countries across the world, including the EU Schengen Area and Singapore.

You do not have to relocate to Antigua and Barbuda when you receive a passport and can remain a citizen from afar. Your application will take between five and seven months to process.

A second citizenship in Dominica costs less than $500,000.

$100,000 Dominica Citizenship by Investment

The second Caribbean Citizenship-by-Investment programme buys you a permanent base in Nature Island. In Dominica, there is a river for every day of the year. The island is also home to more than 170 bird species and one of the last surviving indigenous tribes, the Kalinago.

One way to claim Dominica Citizenship by Investment is to invest in a property worth no less than $200,000 in a government-approved real estate development.

You must remain the owner of this property for at least three years. After five years, you can sell the real estate but retain your Dominica citizenship.

An option that is 50% cheaper is to donate $100,000 to the Economic Diversification Fund. This half-price citizenship contributes to key local projects. Currently, the island is constructing a new international airport.

Another development in the pipeline is the world’s longest cable car ride. This will take you from the capital Roseau to Planet Earth’s second-largest Boiling Lake via a tropical rainforest.

Dominica tightened due diligence in 2023 and there is now a mandatory interview. Citizens can apply for a Can+ Visa. This cuts down the time you need to wait to secure a visa to visit Canada.

A further advantage of a second citizenship in Dominica is visa-free travel to 140+ countries. These include Hong Kong and Ireland.

You do not have to move to Dominica after receiving your passport. This means you can avoid paying taxes on foreign income if you spend less than 183 days on the island. You will have to wait between four and five months for your new citizenship.

A second citizenship in St Lucia costs less than $500,000.

$100,000 St Lucia Citizenship by Investment

Although it is not the lowest-priced investment option, St Lucia’s National Action Bond is one of a kind.

The NAB is the only refundable investment across Caribbean Citizenship-by-Investment programmes. Pledge $300,000, hold the bond for five years, and then the St Lucia Government will repay the original outlay.

Or you could commit $200,000 to luxury tourist developments. You must pay a $30,000 admin fee as a solo St Lucia Citizenship by Investment applicant. This rises to $45,000 if applying with a spouse.

You will receive your St Lucia citizenship four to five months after your initial application. Dependants can include children up to the age of 30 and parents and grandparents over the age of 55. A St Lucia passport allows you to travel to over 140 countries without a visa.

St Lucia citizens do not have to reside on the island. There are no language tests to take. You can apply for St Lucia CBI if you are a national of any country, other than Belarus, Iran, or Russia.

In June 2023, Canada’s Honourable Sean Fraser made an important announcement. The Minister of Immigration, Refugees and Citizenship updated on electronic travel authorization. He revealed that St Lucia citizens could now enjoy visa-free air travel to Canada.

Vanuatu second citizenship retails at $130,000.

$130,000 Vanuatu Citizenship by Investment

The global mobility of the Vanuatu passport is restricted to just under 100 visa-free countries. This is less than CBI competitors. However, applying for Vanuatu Citizenship by Investment can take as little as between two and three months to process.

Vanuatu is a group of islands in the Pacific Ocean. This is the only CBI programme available in Oceania. If you choose to relocate to the country of your new citizenship, you will enjoy an unspoiled land that has a growing expat population.

Citizenship by Investment became available in Vanuatu in 2017. It provides the government with around a third of its domestic revenue. While the official language is Bislama, many people also speak English and French.

Donate $130,000 to the Development Support Program (DSP) as a single applicant. If applying as a family of four, the cost rises to $180,000. You must pay an extra $5,000 for a Financial Intelligence Unit check and a further $2,000 administrative fee per person.

While you do not have to reside in Vanuatu to qualify as a citizen, the only taxes in the country are indirect VAT and import duty. So, there are tax benefits to relocating there. Spend enough time there and you will reduce your tax liabilities.

Second citizenship in Grenada begins at $150,000.

$150,000 Grenada Citizenship by Investment

Grenada is the second most expensive Caribbean Citizenship-by-Investment programme. Yet it is a one-off payment that is still well below half a million dollars. You also qualify for a E-2 nonimmigrant classification in the US. But you need to live on the island for three years first.

There are two ways to obtain Grenada Citizenship by Investment. A real estate option offers an entry route. Purchase a $220,000 share in a government-approved property development.

You can also invest $350,000 in such a project. Five years is the minimum amount of time you have to maintain ownership for.

A more reasonable Citizenship-by-Investment package is a $150,000 donation. This boosts the National Transformation Fund (NTF). The figure increases to $200,000 for you and your spouse. Add two extra dependants and the price remains the same.

While the NFT contribution sees short-term savings, it is not so cheap in the long term. That is because the $150,000 is non-refundable. Investing in Grenada citizenship via property could see you better off. You might make a profit should you choose to sell the qualifying real estate at a later date.

Economic citizenship in Grenada is a gateway to a new passport. This will allow you to visit more than 140 countries without a visa. They include Portugal and Singapore.

A second citizenship in St Kitts and Nevis will cost less than $500,000.

$250,000 St Kitts and Nevis Citizenship by Investment

The Limited Time Offer that reduced the price of St Kitts and Nevis Citizenship by Investment to $125,000 stopped on June 27th, 2023 . On that date, the price doubled. The lowest CBI option increased to $250,000.

Like the majority of Caribbean Citizenship programmes, there are two main investment options.

The more expensive route is via a minimum $400,000 outlay for property. You must continue to own this real estate for at least seven years. The property only be resold once, to someone joining the CBI programme.

Contributing at least $250,000 to the country’s Sustainable Island State Contribution (SISC) is your other way in. This increases to $300,000 for you and your spouse. A family of four will incur a cost of $350,000.

On September 19, 1983 Saint Kitts and Nevis ceased to be a British colony. It joined the Commonwealth and a year later launched the first-ever Citizenship-by-Investment programme. This quality offering has stood the test of time and profits continue to fund COVID relief.

The Limited Time Offer fast-tracked SGF applications. You will no longer receive your St Kitts and Nevis passport within 60 days. But it still entitles you to a Caribbean Community (CARICOM) nationality.

The cheapest second citizenship costs $400,000 in Türkiye.

$400,000 Türkiye Citizenship by Investment

In 2022, the minimum investment amount for Turkish Citizenship by Investment increased from $250,000 to $400,000. You have to maintain ownership of the property for at least three years. The President of the Republic of Türkiye grants Turkish citizenship on these grounds.

The Turkish economy is the region’s strongest. It grew four percent in Q1 of 2023. This exceeded expectations amongst expert economists and saw Türkiye continue to outperform neighboring countries.

Türkiye is an increasingly popular investment destination. It drew $2.3 billion of foreign direct investment (FDI) during the first quarter of 2023, a 23-percent year-on-year rise. The total FDI over the past year adds up to $13.5 billion.

You can receive Turkish citizenship within four to five months of your initial application. A Turkish passport guarantees visa-free travel to 110+ countries.

To qualify for Turkish citizenship, you need to be over 18 years of age and to be able to prove the legality of your income. You must have a clean criminal record and not suffer from any serious illnesses. Dependants can include a spouse and children under the age of 18.

Broaden Your Search

If a lower price is not a factor, we have a wider range of Citizenship by Investment programmes to choose from. But if cost is an issue, it is best to act quickly as programmes tend to go up in price rather than down. So, don’t delay and contact us today!


How to Get Second Citizenship Under $500,000 in 2024

Date: 25 September, 2023

Posted in: Caribbean, Europe, News feed