This is the Million Dollar Question. You want to settle someplace centrally to make life more pleasant and secure, with plenty of opportunities for the family to enjoy and prosper, therefore you must choose which country provides free or cheapest citizenship.
Citizenship by investment is an excellent option to obtain a second passport. By investing in a second citizenship, you ensure that you have additional possibilities for living, travelling, conducting business, investing, and potentially even lowering your tax bill.
While it does provide numerous advantages, you should carefully decide which citizenship to purchase. One factor to consider is the cost of this venture. Many people believe that getting a second passport is just for individuals with a lot of money. This, however, is not always the case.
While most nations need a significant financial commitment, there are few that grant citizenship at a modest cost. The best part is that it is legal, safe, simple, and quick.
The top five nations presently offering the cheapest second passport are as follows:
St. Lucia
Following the devastation caused by the 2017 hurricane season, numerous Caribbean governments are now selling citizenship by investment. One of these nations is Saint Lucia.
St. Lucia has the world’s cheapest second citizenship by investment programme for single applicants. The cheapest way to obtain second citizenship in St. Lucia is to make a gift to their National Economic Fund. To obtain citizenship in St. Lucia, you must spend at least $109’600 as a single candidate.
You will get visa-free entry to 123 countries, including the Schengen Area and the United Kingdom if you become a citizen of this nation.
Dominica
Dominica’s second citizenship by investment scheme is cheap. However, it has lately been reported that it has welcomed clients with a poor reputation that other nations refuse to cooperate with. This is something to think about when applying for a Dominican passport.
A single candidate just has to donate $110,000 to get second citizenship in Dominica. Alternatively, a family of four would contribute $200’000 and pay an extra $18’300 in fees.
Obtaining a Dominican passport through their real estate citizenship by investment option requires you to spend at least $200,000 on property. However, government, processing, and due diligence expenses will raise the total cost per application to $233’500. This would cost $247’500 for a family of four.
A Dominican second passport allows you to travel visa-free to 122 countries, including the Schengen region, the United Kingdom, and Brazil.
Grenada
Grenada’s citizenship by investment programme began in 2013. It has grown in popularity since then for a variety of reasons. To obtain the best deal on a passport, you might make a gift to the National Transformation Fund (NTF) or buy real estate.
To get Granada’s passport, a single applicant would need to provide $150’000 plus $8’000 in costs. An option would be to invest $350,000 in real estate and pay $70,000 in fees. A payment of $200,000 plus costs of $24,000 would provide second citizenship for a family of four.
By becoming a Granada citizen, you would have visa-free entry to 131 countries, including the Schengen region, the United Kingdom, Brazil, and even China. Furthermore, under the E-2 investor visa agreements, you would be entitled to work and live in the United States.
Nevis and St. Kitts
St. Kitts’ programme has a high reputation after 35 years in the field of economic citizenship. It presently provides three ways to obtain citizenship. One way is to donate to the Sugar Industry Diversification Fund. The other two methods are real estate and donations to the Sustainable Growth Fund.
Citizenship in St. Kitts and Nevis can be obtained for a gift of $157’850. A family of four would need to contribute $207,700. These prices include all costs.
If you opt to invest in real estate to obtain citizenship in St. Kitts and Nevis, you must invest at least $242’800 as a single candidate. This would cost $287’900 for a family of four.
By obtaining a second passport in St. Kitts and Nevis, you will be able to travel to 131 countries without a visa.
Barbuda and Antigua
Payment to the National Development Fund is the cheapest way to get a second passport in Antigua and Barbuda. You may obtain citizenship in Antigua and Barbuda by contributing $100,000 and paying extra costs of $32’800 for individuals or $41’200 for a family of four.
The passport of Antigua and Barbuda permits you to travel visa-free to 140 countries, including the European Union, Schengen Area, the United Kingdom, and Brazil.
Another way to obtain a second passport in this nation is through real estate and local business investments. A minimum investment of $200’000 is required for the real estate option, as well as an extra $66’200 in fees. If you decide to invest in a company, you will need $1.5 million before costs.
Summary
Saint Lucia, Dominica, Grenada, St. Kitts and Nevis, and Antigua and Barbuda are the top five nations giving the cheapest second passport right now. You may obtain second citizenship in Saint Lucia for as little as $109’600.
Other Caribbean countries also provide a second passport for a modest fee. This is one method that which these countries may aid their local economies.
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