Where to Get the Best Second Passport for US Citizens in 2024

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We live in tumultuous times. If you haven’t got a Plan B, what happens if Plan A goes awry? In this article, we’ll show you where to get the best second passport for US citizens in 2024.

The Investment Migration Routes to a Second Passport

There are three paths to a second passport that investors can take. The first, Citizenship by Descent, is the trickiest. This requires rooting about in your family tree to see if you have any connection with a country through your ancestors.

The second is more straightforward but is a lengthier passage to another passport. This is Residency by Investment. You can become a citizen after a period of naturalization.

By far the quickest way to get your hands on a second passport is to do so via Citizenship by Investment. In return for investing in the country, you become a national. This allows you to then apply for the country’s passport.

The Best Second Passports for Americans with European Ancestry

Ireland

Our Executive Chairman Eric Major champions the Irish passport. “If you can tolerate rain like out of Seattle and are lucky enough to have Emerald Isle ancestry,” he advises, “there’s no finer Citizenship by Descent (CBD) to get. It’s the Holy Grail in our business.” Why?

“For one thing, the Irish passport offers visa-free access to 190+ countries. But most importantly, it gives the holder the right of settlement, meaning the right to live, work, set up a business, study, and retire in all 27 EU Member States, as well as the UK. Basically it’s the only citizenship that gives you settlement rights in 28 countries, including Ireland of course”.

Irish Citizenship by Descent allows you to go back to an Irish great-grandparent. But this avenue is only open if one of your parents qualified for Irish CBD before your birth. If you claim via a grandparent, they must have been an Irish citizen when your relevant parent was born.

Italy

“Life is beautiful in Italy,” insists our resident Italian-American, Audra DeFalco. In doing so, the Relationship Manager paraphrases the popular Italian expression, “La Bella Vita”.

“Italy is familiar to those with roots in the boot,” maintains DeFalco. “We grew up with Italian family traditions and cherished recipes, so relocating to our ancestral homeland is as reassuring as comfort food.”

The Italian passport is another strong travel document. It allows you to enter over 190 countries without a visa, including the Schengen Zone which Italy is a part of. Italian Citizenship by Descent is a right of blood, jure sanguinis, and you’re eligible with one qualifying ancestor, no matter how many generations ago they left Italy.

The Best Second Passports for Americans via Residency and Citizenship by Investment

Antigua and Barbuda

“Due to the new layer of extra diligence,” explains Latitude Caribbean Managing Partner Christopher Willis, “Antigua and Barbuda has become a safer country to invest in a citizenship.” “Yet the minimum investment remains a $100,000 donation to the National Development Fund.”

“There are advantages of spending more than the requisite five days in five years on Antigua,” reveals Willis. “You’ll be able to fully explore the Land of 365 Beaches, one for every day of a non-leap year.”

You’ll receive Antigua and Barbuda Citizenship by Investment and the subsequent passport within five to seven months. Then you’ll benefit from being able to visit 150+ countries without the need to apply for a visa.

What’s more, you can bring your spouse and dependent children, parents, and grandparents with you. In fact, you can even add siblings who are not married. Antigua and Barbuda represents the most cost-effective option for families.

Malta

“I’m Maltese but even if I wasn’t, I’d still say that Malta offers the best second passport for Americans,” reveals Latitude Malta Managing Partner Ryan Darmanin. “It’s not me being biased when I point out that Malta is the only country to offer both Residency and Citizenship by Investment.”

“Neither is it part of my patriotic duty to celebrate Maltese Exceptional Investment Naturalization. I recommend MEIN as part of my professional responsibility.” “The same goes for the Malta Permanent Residence Programme (MPRP).”

Maltese Exceptional Investment Naturalization requires a minimum contribution  of $600,000 and you can take advantage of qualifying for a passport of the strength of Ireland and Italy within 16-18 months.

The necessary MPRP outlay is at least $150,000. You can gain Maltese citizenship after naturalization in a country where one of the two official languages is English.  This is a major benefit as the other European RCBI Programmes require a test in their native non-English language and you will soon feel at home in a country whose crime-free streets you’ll feel safe enough to walk home at night.

Portugal

“The Portuguese Golden Visa is still golden,” claims our Portuguese Residency by Investment specialist Jon Green. “That’s despite the removal of the popular real estate option.”

“You can qualify for a Portuguese passport after five years of residency.” “The actual physical residence requirement is minimal, a mere seven days a year in the country but we do recommend spending more time as you approach Year 5 to help demonstrate genuine ties to the country.”

The Portuguese Golden Visa is the second lowest-priced European Residency by Investment, after Malta. You need to donate at least €200,000. However, this must support either artistic production or national heritage maintenance in a less densely-populated area, and the €500,000 Portuguese investment or venture capital fund option is more viable.

Spain

“Spanish people are as warm and welcoming as the climate,” remarks David Regueiro, our Spanish Residency by Investment expert. “In terms of quality of life, family-friendly Spain is hard to beat.”

“A Spanish passport is yours after 10 years of legal residence in the country and only 2 years if you hold any Ibero-American nationality.” “As a highly livable country with a captivating capital city and other magical metropolises, you won’t be counting down the clock in Spain.” 

The Spanish Golden Visa maintains its value. That’s because the most regular choice of investment is tied to a €500,000 property purchase. You can recoup this cost by selling at a later date and many options like guaranteed buyback and advanced rental are available. Furthermore, Spanish real estate is one of the hottest markets in Europe so capital appreciation is likely. 

St Lucia

“The Caribbean is well known as a vacation destination,” points out Christopher Willis. “If you’re looking for a laidback lifestyle, this is the region to head to.”

“St Lucia’s Hewanorra International Airport connects the island with the likes of Canada, the UK, and the US.” “The Citizenship by Investment Unit has diversified its investment range in 2024, with four main options now available.”

As well as enhanced global mobility thanks to its passport, St Lucia Citizenship by Investment is the most reasonable Caribbean Citizenship by Investment for single applicants.

You can include unmarried siblings under the age of 18 in your application. There are no physical residency stipulations and no language tests to take unlike in European countries such as Portugal and Spain.

Which Is the Best Second Passport for US Citizens in 2024?

Generally speaking, Citizenship by Descent and Caribbean Citizenship by Investment are the cheaper alternatives. However, if your family tree doesn’t have European roots, the European Residency and Citizenship by Investment Programmes offer stronger passports.

To find out which is the ideal solution for you and your family, don’t delay and contact Latitude Group today.