Citizenship by investment countries and programs in 2025

Citizenship-by-investment programs are a legal and quick way to obtain a second passport. The conditions are simple: invest legally earned money in one of the proposed areas and pay government fees.

CBI programs are popular among individuals seeking to obtain a second citizenship quickly and easily to expand their travel, work, and business freedoms, protect their assets, and reduce their tax burden. For many, a second passport serves as a “backup runway,” providing the ability to quickly leave if necessary. Second citizenship provides freedom in terms of immigration. With it, you can apply for a residence permit in European countries. Currently, 12 countries offer citizenship-by-investment programs. There are different ways to invest money: you can buy a house, increase a company’s authorized capital, or make a donation to one of the state funds. The required investment amount varies: sometimes USD 130,000 is enough, and sometimes even USD 1,000,000 is not enough.

When choosing a program, consider the country’s reputation, the benefits you will receive after investing, whether you can return the investment in the future, and whether your relatives can obtain the citizenship status with you. Investors who want to be sure they’re making the right decisions often turn to immigration lawyers.

What is citizenship by investment?

Today, it is one of the legal ways to become a citizen of another country. Typically, money must be invested in real estate or a special fund. Investors are granted citizenship in a simplified manner since they do not need to apply for a temporary or permanent residence permit, learn the language, or live in a particular country for many years.

Note that many countries offer programs that only provide a residence permit in exchange for investment. The main difference is that, in this case, your rights will be limited. For example, you will not be able to:

• Travel without a visa to countries available to citizens;
• Travel abroad for an extended period of time, otherwise your resident status will be canceled;
• Apply for scholarships at universities;
• Apply for certain benefits and subsidies.

The lower investment threshold depends on the laws of a particular country. For example, you can become a citizen of the Pacific island nation of Vanuatu for only USD 130,000. In one of the most stable and safe countries in the Middle East, Jordan, you will need to invest at least one million USD. The processing time for a second passport also varies: in some places, citizenship applications are processed in two months, whereas in others, it can take up to six months.

Countries where you can get citizenship by investment

In general, there are more than 25 official programs around the world under which foreigners can be granted resident or citizen status:

12 citizenship by investment programs that actually work in 2025

Currently, only 12 countries offer citizenship by investment. They are geographically located in Asia, the Caribbean, Africa, Oceania, the Middle East, and the Balkans. Each country has its own eligibility requirements. Let’s take a closer look at them.

Vanuatu citizenship by investment

Participants in the Vanuatu program receive a passport in about 60 days. One advantage is that you don’t need to fly anywhere because the entire process takes place remotely. As a result, the passport is mailed to you. You don’t have to move to Vanuatu right away — your status will be preserved even if you never visit.

In Vanuatu, you can invest money:

• Under the Capital Investment Immigration Plan (CIIP) program. Investments of at least USD 115,000 are required, as well as an additional USD 50,000 in an industrial sector approved by the authorities. Money invested in production can be returned with interest. The total investment amount does not change if you apply with a family of up to four people (for example, yourself, your spouse, and two children).
• Under the Development Support Program. Those who want to obtain a second citizenship in exchange for supporting the country’s economy and infrastructure must invest USD 130,000. If your relatives plan to receive passports in addition to you, the contribution amount increases. For example, married couples must contribute USD 150,000, and families of four must contribute USD 180,000.

Investing in a Vanuatu passport opens the door to 96 countries, allowing you to travel visa-free to the Bahamas, the Philippines, and Singapore. If you’ve always wanted to visit the United States, you can safely apply for a tourist visa (B1/B2) after receiving citizenship — locals are rarely denied, and the visa is valid for 5 years. There is also good news for businesspeople: Vanuatu imposes no taxes on profits or capital gains.

iWorld specialists provide comprehensive support to help you obtain Vanuatu citizenship. We select an investment program, prepare the necessary documents, submit the application, and track the delivery of your passport.

Caribbean citizenship for investment

You can obtain this type of citizenship in one of five Caribbean countries.

Dominica is an island nation discovered by Christopher Columbus. You can obtain a second citizenship through investment here if you invest at least USD 200,000. These funds can be invested in the Economic Diversification Fund or used to purchase a property on the Atlantic or Caribbean coast. If you purchase real estate, an additional fee of USD 75,000 is required. You will receive citizenship within 3-6 months. Relatives can also apply for passports, but the total investment amount increases.

Antigua and Barbuda is an exotic country in the Lesser Antilles. Citizenship is granted through investment when purchasing a home on the Caribbean coast valued at least 300 thousand US dollars. Alternatively, you can donate USD 230,000 to a development fund or invest USD 1.5 million in a local company. If your family has at least six members, you can invest USD 260,000 in the University of the West Indies Fund.

Your relatives can also obtain Antiguan and Barbudan citizenship. In this case, the main investment amount remains the same, but additional payments increase. Applications are reviewed within 2-3 months. To maintain your citizenship status, you must spend at least one day a year on the island for five years.

Grenada, the southernmost island state in the region, is only 34 km long and 19 km wide. The government allows you to obtain citizenship by investing in the National Fund (USD 235,000) or in real estate (USD 270,000). Citizenship is also granted to the investor’s relatives, subject to additional payments. Applications for Grenadian citizenship are processed within 60 days.

Saint Kitts and Nevis, a former British colony that gained independence in 1983, now offers a golden passport within 4 to 6 months. The minimum investment is USD 250,000 in an economic growth or sustainable development project. You can also obtain a passport by purchasing real estate: an apartment or property from an approved developer for USD 325,000, or a house for USD 600,000. If you pay extra, your loved ones will also receive citizenship.

Saint Lucia, a volcanic island, closes the list of Caribbean countries offering passports in exchange for investment. The minimum investment is set at USD 240,000, which is put into an economic fund. Citizenship in Saint Lucia will also be granted to anyone who invests USD 300,000 in real estate or government bonds. Increasing the authorized capital of a local company by USD 3.5 million will also grant you citizenship. After making additional payments, a gold passport will be issued to your relatives as well. On average, it takes up to 3 months for an application to be approved.

Turkish citizenship by investment

You can obtain Turkish citizenship by investing USD 500,000 in local enterprises, government bonds, or a government fund. Depositing the same amount in a local bank is also sufficient to obtain citizenship.

Foreigners can also obtain a Turkish passport by investing in real estate — the property must cost at least USD 400,000. For example, you can buy a 124 m² house in Istanbul at this price.

All investments must be maintained for at least a three-year period. For instance, you cannot sell your house during this time if you wish to keep your Turkish citizenship. The president personally assigns the status. Although the exact timeframe for granting Turkish citizenship through investment is not specified by law, the entire process, from investment to receiving the decision, typically takes between six months and a year.

With smaller contributions, you can obtain a Turkish residence permit through investment. To qualify, you must purchase real estate valued at no less than USD 200,000. Learn more at a free consultation with P4 specialists.

Egyptian citizenship by investment

Egypt’s citizenship by investment program has been in effect since 2020. The minimum investment is 250,000 USD, which must be placed in a non-refundable deposit in the General Treasury. Another option is to create your own investment project in Egypt, for which you must invest at least USD 350,000.

You can also purchase real estate to obtain citizenship. The minimum cost is USD 300,000. However, if you sell the property within five years of purchase, you must pay an additional USD 250,000 to the treasury to avoid having your citizenship canceled.

You can obtain Egyptian citizenship through investment by placing a USD 500,000 deposit in the country’s Central Bank for 36 months. The money will be returned to you in Egyptian pounds and will not earn interest.

It takes 6-12 months to approve your application. Your children can receive golden Egyptian passports with you if they are under 21 and financially dependent on you. Initially, a spouse cannot be included in the application — a partner can obtain second citizenship after 2 years.

Jordanian citizenship by investment

The Jordanian investment program is reviewed every six months. Applications are processed in 3 months on average.

You can open a 3-year deposit of USD 1 million in the Central Bank or purchase treasury bonds for USD 1 million over 6 years. Those who invest in local companies can also obtain a golden Jordanian passport — you need to invest at least 1.5 million US dollars, which you can only return after 3 years.

Another option is to obtain a temporary Jordanian passport for three years by creating your own investment project. The requirements and deposit amount depend on the location:

If the investor is only a partner in an existing project located outside the capital, the required investment amount is reduced to USD 500,000.

The investor’s spouse, unmarried adult daughters (including widows or divorcees), minor children, and parents can receive Jordanian citizenship. Investors’ sons over the age of 30 and their wives with children can apply for a passport only if the investment amount exceeds USD 3 million.

Citizenship of North Macedonia by investment

There is no direct investment program for obtaining a North Macedonian passport. However, according to the Law on Citizenship, citizenship can be granted to individuals of special economic interest. This implies that a foreigner must invest in securities, shares of local companies, start-ups, or scientific research, or make donations.

The government has not yet announced the minimum investment amount since the program is still in development. According to preliminary information, the initial investment in the investment fund will be EUR 200,000. It is likely that the government of North Macedonia will announce the exact requirements in the near future.

Cambodian citizenship by investment

This exotic Asian country offers a golden passport in exchange for investing at least USD 312,000 in its economy. This amount has not changed since 1996, but the government is now considering raising the limit.

To obtain a golden passport, however, you must do more than invest funds. You also need to:

• Register your place of residence in Cambodia;
• Learn the Khmer language and the history of Cambodia, and prove your knowledge by passing an exam;
• Obtain a certificate proving you have no criminal record and are in good health.

Citizenship in Cambodia can also be granted to your loved ones, including minor children and a spouse. The government has not set a deadline for processing applications, although passports are typically issued within four months.

Nauru citizenship by investment

Nauru, located near Australia, is the smallest independent republic in the world. To obtain a passport through investment, you must make a non-refundable payment of at least USD 105,000 to the treasury fund. You can include your family in the application: spouse and children under 18. Relatives who are financially dependent on you are also eligible to receive a passport. This includes:

• Unmarried children aged 18–30;
• Parents and grandparents over 55 years old;
• Brothers and sisters (including their spouses) who have never been married are also eligible.

If you include relatives in your application, you will need to invest more money. For example, citizenship for a family of 5 in Nauru will cost USD 115,000. You will need to wait 3-4 months for a response regarding the issuance of a golden passport.

Which programs are fully or partially closing in 2025?

Previously, it was possible to obtain EU citizenship through investment. Today, all such initiatives are closed, primarily due to pressure from the EU government. The European Commission believes that this method of obtaining citizenship undermines the prestige of the EU passport and threatens the national security of each member state.

Note that golden passports were not issued in all EU countries. Such initiatives were never issued in Spain, Portugal, Italy, Hungary, Austria, Ireland, or Greece. Currently, some of these countries offer residence permits through investment programs, but obtaining a passport requires a lengthy naturalization process.

Cyprus’s passport program by investment closed in 2020 after the Al Jazeera investigation “Cyprus Papers” was published. The investigation revealed that some applicants had invested money earned illegally and that other applicants had criminal records. In order to preserve the country’s reputation, the Cypriot government had to abandon the initiative. About 220 people have already been stripped of their Cypriot passports, and this number may grow in the future. Previously, the program allowed investment in local businesses, real estate, or funds. Depending on the investment, the minimum amount was EUR 75,000 or 2 million.

Maltese citizenship. In 2025, the Maltese government was forced by the EU Court to stop issuing passports in exchange for investments. The European Commission believes that this initiative violated the principle of mutual trust between EU member states. Investors could receive Maltese citizenship within 12 months or 3 years by investing at least EUR 690,000 in the state economy. This sum covered direct investment, the purchase or rental of housing, and a charitable contribution.

Currently, investors can obtain Maltese citizenship through naturalization. They can do so by applying for permanent residence through investment (after renting or buying real estate and paying certain fees).

In 2022, at the initiative of the European Commission, Bulgaria also closed the program for issuing golden passports. This was one of the conditions for the country’s accession to the Schengen area. It should be noted that the program did not generate the expected revenue for the Bulgarian budget. Previously, investors who invested approximately 512 thousand euros in shares or stocks of funds received a passport. Now, they can apply for an investment residence permit and then citizenship by naturalization.

Montenegro temporarily issued citizenship in exchange for investments, but on December 31, 2022, it closed the program. To obtain a passport, it was necessary to invest at least 200 thousand euros in a state fund, as well as USD 250,000–450,000 in real estate, depending on its location.

A change in leadership in Moldova led to the closure of the golden passport program in 2019. Previously, any foreigner who invested EUR 100,000 in the Long-Term Development Fund or EUR 250,000 in a business could become a citizen.

Until 2017, the Comoros Islands issued passports to investors who donated USD 45,000 to the country’s economy. However, the initiative was shut down amid a scandal involving Bedouins from the Persian Gulf and corruption among local officials.

Which investments are the most suitable for obtaining a passport?

Countries offer investors several options for obtaining a passport in exchange for investment:

• Purchase of real estate. The investor must purchase an apartment or house; commercial properties are rarely permitted. In most cases, the property must be approved by the state, so it is often impossible to buy just any property. Also, a minimum ownership period is often established during which the investor is prohibited from selling the property.
• Donation. The investor is asked to contribute to a government-approved fund or another organization. Typically, this money cannot be returned.
• Into business. Typically, the money is used to increase the company’s authorized capital or finance new jobs. Typically, these funds can be returned, but not immediately — you must wait several years.

Vanuatu citizenship by investment:

• Additional residence jurisdiction;
• Tax-free zone;
• Investment return of at least 5% per year;
• Simplified visa processing for the USA and Canada.

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7 advantages of a second citizenship

After obtaining a second passport, you can enjoy many benefits, including:

1. Visa-free travel. You will be able to travel to countries where you previously needed a visa without one.
2. Citizenship for children. Typically, minor children of investors automatically receive citizenship alongside their parents. This status can also be passed on by inheritance, providing a better future for all your children.
3. Tax optimization. Having citizenship allows you to easily change your tax residency. With a favorable tax system, you can reduce your expenses. For example, Vanuatu does not have income or capital gains taxes. Additionally, most countries have signed agreements to avoid double taxation, giving you the opportunity to choose a country with a lower tax burden.
4. Asset protection. You can keep money in foreign accounts to minimize the risk of it being blocked due to political or economic sanctions. Similarly, you can protect your business or real estate.
5. Backup airfield. In the event of a crisis, natural disaster, or political pressure, you will know exactly where you can quickly and easily relocate. You won’t need to apply for a visa, a residence permit, or asylum because a second passport is a direct ticket.
6. Global business opportunities. With a second passport, you can do business with foreign partners all over the world. You won’t face restrictions on currency transfers or cooperation.
7. Access to medicine and education. A second passport allows you to freely choose where to receive treatment or pursue your education. If the laws of the country allow it, the healthcare and education sectors may be completely free for you and your family.

In which cases is a passport for investment not issued?

Even if you have the required investment funds, you may be denied citizenship. Each country’s authorities conduct thorough checks on all investors. You will not receive citizenship if you cannot prove the legal origin of the funds, if you are on the international wanted list, if you have a criminal record, or if you are a citizen of a “high-risk” country. Errors in documents and applications also lead to refusal.

Therefore, if you decide to obtain citizenship through investment, it is best to consult migration specialists. They will select the optimal program for you, prepare your documents according to current requirements, and accompany you until you receive your second passport.