Citizenship-by-investment programs offer a legal means to obtain a second passport by investing in a country’s economy. Between 2024 and 2025, more countries began issuing passports to investors: Sao Tome and Principe, as well as Sierra Leone, launched such programs. Many have become interested in this opportunity because both countries offer second citizenship at some of the most affordable prices on the market, with no residency requirement.
As conditions tighten and prices rise for «golden passports» in the Caribbean, wealthy foreigners are considering African initiatives as an alternative. In this article, we compare São Tomé and Príncipe’s and Sierra Leone’s citizenship-by-investment programs to help you choose the right option.
São Tomé and Príncipe citizenship by investment
The former Portuguese colony and independent African state launched its citizenship-by-investment (CBI) program in 2025. The government aims to attract funding for economic and infrastructure development.
The country offers a second passport for an investment of at least USD 90,000 in the National Transformation Fund, which is currently the lowest threshold among similar programs worldwide. Other costs are minimal: USD 5,000 for the application and due diligence.
The minimum investment for a family of up to 4 people is USD 95,000. An additional USD 5,000 is added for each additional family member. Investors can apply for citizenship for their spouse, children under 30, and parents over 55. For instance, if a couple with two children and two parents participate in the program, the overall cost will be lower than in other countries with similar programs.
Program participants do not need to learn Portuguese or integrate into society. Living in São Tomé and Príncipe before or after receiving citizenship is also not required. However, applicants for a second passport must:
- Have no criminal record resulting in imprisonment for at least 3 years.
- Be over 18 years old (children can be included in their parents’ application).
- Have a legal source of income.
- Not be associated with terrorism.
- Be free of dangerous infectious diseases (a doctor’s note is required).
A São Tomé and Príncipe citizenship application by investment is processed within 1.5–2 months of submitting the necessary documents. There is no need to visit the country—everything is processed remotely through a . Once approved, investors only need to take an oath of allegiance at the São Tomé and Príncipe embassy or consulate to receive a second passport.
Although the São Tomé and Príncipe passport is not the most powerful in the world (it allows visa-free travel to only 71 countries), it offers its holder several advantages:
- Receive immigration benefits to Brazil, Portugal, and other countries in the Community of Portuguese-Speaking Countries (CPLP).
- Obtain Schengen visas, temporary and permanent residence permits in EU countries, and participate in EU investment programs without restrictions.
- Receive tax breaks when starting a business in tourism, sustainable development, energy, or agriculture.
- Optimize taxes, as the country imposes no taxes on dividends, inheritance, or capital gains.
- Open accounts freely with local banks, such as Energy Bank São Tomé, Banco Africano de Investimentos, and Banco Internacional de São Tomé e Príncipe, as well as international banks in Europe, the US, and Canada. These accounts allow you to send international currency transfers and use Visa/MasterCard cards.
A key advantage is that the São Tomé and Príncipe program is open to everyone. Authorities have only restricted North Korean citizens. The entire process is strictly confidential. Information about participation in the program is not shared with government agencies in the applicant’s home country.
One downside is that investments cannot be returned, even partially. All funds from the National Transformation Fund are used to stimulate the country’s economy.
Obtaining citizenship of São Tomé and Príncipe in 1–2 months
- Citizenship for the whole family
- Possibility of dual citizenship
- Minimum requirements for staying in the country
- The most affordable investment program
Leave an application and get a consultation specialist
Sierra Leone citizenship by investment
In 2024, the former British colony launched the «Go for Gold» CBI program to attract funding for economic development. Under this program, investors can obtain a second passport in 2-3 months.
The minimum contribution to the government fund varies depending on the applicant’s origin:
- USD 100,000 for persons of African descent (a DNA test is required);
- USD 140,000 for other foreigners.
Sierra Leone’s CBI program is appealing because, for a relatively small additional fee, investors can obtain a second passport for relatives, as well as one business partner (not necessarily a relative):
- USD 10,000 for a spouse, each minor child, parent, and grandparent;
- USD 20,000 for each child over 18, sibling under 30, spouse, and minor children of siblings;
- USD 30,000 for one business partner (co-investor).
All applicants for a second passport must undergo a due diligence check, which is an additional cost. USD 5,000 for 5 people, USD 10,000 for 6–10 people, and USD 900 for each additional applicant.
Physical presence in Sierra Leone before or after receiving citizenship is not required. Neither a language test nor an interview is required (English is the country’s official language). Applications are submitted online, and the naturalization certificate and passport are mailed to the specified address.
To obtain Sierra Leonean citizenship through investment, you must:
- Prepare the following documents: passport, photo, birth certificate, and marriage certificate.
- Submit an application (this can be done through a iWorld agent).
- Pay the due diligence fee.
- Wait for the due diligence check to be completed and for initial approval to be granted.
- Make the main investment.
A Sierra Leonean passport allows visa-free entry to 67 countries, primarily in Africa. While this isn’t the best indicator, it’s offset by the fact that citizens can live, study, and work freely in any of the 15 Economic Community of West African States (ECOWAS) countries, similar to Europeans in the EU. This opens up additional opportunities for career advancement and business. Investors automatically become members of the «GO-FOR-GOLD» club, entitling them to purchase up to 20 kg of gold bars at a discounted price over 5 years.
One downside is that the investment is non-refundable because the contribution to the government fund is charitable. Additionally, the CBI conditions may be revised since the program is relatively new.
A comparison of São Tomé and Príncipe and Sierra Leone citizenship programs
Both are relatively new African citizenship-by-investment programs that issue a second passport in exchange for a non-refundable contribution. However, there are key differences between the two programs regarding minimum investment, family allowances, and benefits. We’ve created a visual comparison of the São Tomé and Príncipe and Sierra Leone citizenship programs:
| Criteria | São Tomé and Príncipe | Sierra Leone |
|---|---|---|
| Minimum Investment, $ | 90,000 | 140,000 |
| Refundable investment option | No | No |
| Family inclusion | Spouse, children up to 30 years old, parents over 55 | Spouse, children of any age, parents, siblings, and their spouses and children |
| Additional family fee, $ | 5,000 per person beyond a family of 4 | 10,000–30,000 |
| Due Diligence fee, в $ | 5,000 | From 5,000 |
| Passport processing fee (months) | 1,5–2 | 2–3 |
| Residency requirement (before/after citizenship) | No | No |
| Language/integration test | No | No |
| Application process | Remote | Remote |
| Visa-free/ Visa-on-arrival access | 71 | 67 |
| Citizenship by descent | Yes | Yes |
| Official language | Portuguese / Creole | English |
| Taxation | No tax on worldwide income, dividends, capital gains, or inheritance | No tax on foreign-sourced income |
We will collect and prepare a package of documents as required by the government agencies of the selected jurisdiction
Which program should an investor choose?
When deciding which African citizenship-by-investment program to participate in (São Tomé or Sierra Leone), it’s important to prioritize the following:
- Minimum budget and speed. The São Tomé and Príncipe program is cheaper. The minimum contribution is USD 90,000, and including 4 relatives in the application increases the minimum contribution to USD 95,000. A passport is issued in 1.5–2 months, which is faster than in Sierra Leone.
- Family immigration. Sierra Leone wins in this regard because, in addition to spouses, children, and parents, siblings and their spouses with children can be included in the application. Furthermore, for an additional fee, a business partner (co-investor) can receive a passport as well—an option not currently offered by any other CBI program.
- Global opportunities. Both countries offer significant advantages. A São Tomé and Príncipe passport simplifies the process of obtaining a residence permit in Portugal, Brazil, or another CPLP country. With Sierra Leonean citizenship, you can live, study, and work in any ECOWAS country. Investors should decide what is more important to them: freedom on the African continent or integration into the EU/Latin America.
- Language of communication. This is important for those who plan to obtain a second passport, not just as a backup but because they truly want to relocate. English is one of the most widely spoken languages in the world, and it is spoken in Sierra Leone. However, investors who know Portuguese will easily adapt to São Tomé and Príncipe.
Applicants with African roots can choose Sierra Leone because the investment amount is reduced to USD 100,000, and the processing time is reduced to 60 days. This makes the program almost as inexpensive and fast as São Tomé and Príncipe’s CBI program. However, it is important to note that a DNA test is required in this case.
Conclusion
The São Tomé and Sierra Leone CBI programs are new African investment programs that offer second passports at a relatively low cost. There is no one-size-fits-all answer as to which country to choose. Each program is tailored to the investor’s individual goals, budget, preferences, and plans.
São Tomé and Principe is attractive due to its low threshold, fast passport issuance, basic visa-free access, and simplified residency processing through the CPLP. Compared to São Tomé, Sierra Leone requires a higher budget to obtain citizenship. However, this is offset by expanded privileges, such as work and business integration into ECOWAS (15 West African countries), inclusion of most relatives (including siblings) in the application, and an English-speaking environment.
Since both CBI programs are new and their terms may change at any time, it’s worth consulting iWorld lawyers. The specialists will explain all the requirements, details, and how citizenship in São Tomé and Príncipe or Sierra Leone will work for you. They also provide support throughout the entire process, from document preparation to obtaining a second passport.
Since both CBI programs are new and their terms may change at any time, it’s worth . The specialists will explain all the requirements, details, and how citizenship in São Tomé and Príncipe or Sierra Leone will work for you. They also provide support throughout the entire process, from document preparation to obtaining a second passport.
