It is becoming more popular every year among affluent individuals to gain multiple citizenship. There are plenty of lucrative reasons to look into the matter but there is also the added benefit of being able to start stacking passports. If you haven’t yet looked into it, there are many things to take into consideration; the current geopolitical climate and countries passing more restrictive travel and immigration laws are just two aspects of the decision. It might be time to consider the benefits dual or multiple citizenship could have for you and even more importantly, how you could be negatively impacted by putting it off. Whether you’re trying to secure your ability to travel freely or diversify investments…
here are some of the best countries to consider for CIP or citizenship by investment
- The easiest recommendation to make on this list is going to be Bulgaria for a couple of reasons. First, there is very little inherent risk with the investment options required and secondly, you can get your passport in two years without residency requirements. The drawback is it’s going to require locking up around $1.2 million in zero interest government bonds for five years, so the risk is mainly opportunity cost associated with not having access to the funds for the duration of the bonds.
- It is getting a little harder to gain Canadian citizenship via investment but it’s still manageable. You and your family are required to pass medical and background checks and have a substantial net worth and recent business experience. After meeting those qualifications comes the five year $800,000 investment into The Quebec Immigrant Investor Program and residency period.
- Citizenship to Malta isn’t cheap but that doesn’t seem to be hurting the demand. Expect a total cost just shy of $2 million and a more involved process than the others but a Maltese passport does give you access to both the United States and Switzerland without a visa. It is most likely worthwhile for anyone looking to frequent the United States without citizenship. Residency is officially part of the requirements but there are no official details for how much time you must actually spend in the country.
- United Kingdom
- One of the coveted Teir 1 passports that are most sought after for noteworthy travelers, this one is certainly not for anyone light on funds or patience. It requires investing a £2 million minimum into qualifying bonds or companies and spending six years in the country. After that, it is just a matter of staying on top of your paperwork.
- On the high end, Australian citizenship is going to require a residency period and substantial investment. You will have to prove a net worth of over $2 million AU prior to applying and be willing to invest $1.5 million into the country’s economy while completing the residency program.