Due to the increasing financial uncertainty and to the rise in regulations that took place during the last decade, more and more individuals are looking for the best citizenship by investment program to acquire a second passport. In only the past three years, the CBI programs have gained popularity and grown to be a 5-billion-dollar industry.
At Mundo, we offer most of the available programs worldwide and in this article, we want to analyze the best citizenship by investment programs of 2020, with a hope that this can give us a good perspective into the new year 2021. There are many factors why a citizenship by investment program can be the best or ranked as one of the best. These factors include pricing, visa-free travel, safety, benefits, costs, and lifestyle.
With the pandemic and the new world order of ever-increasing regulations and restrictions, the nominative or “honorary citizenship” is losing its appeal. Before, businesspeople used to look for programs that would give them flexible stay requirements so that they could continue with their lives abroad and maintain their second passport without traveling.
However, after 2020 the situation has changed. The tendency now among passport applicants is to find those places or countries that can offer a safe haven during an economical or financial crisis. The favorite jurisdictions are the small islands with stable politic environment, peaceful population, clean water, and good food supply. In this regard, the favorite jurisdiction is Vanuatu.
Next, we will analyze the 5 best citizenship programs of the past 2 years, for this we take into consideration the following factors:
- Pricing.
- Real estate (whether the country has a real estate investment option or not).
- Safety.
- Visa free travel options.
- EU citizenship.
- Minimum stay requirements.
- E-2 visa option.
- GDP.
- Human development rank.
Best citizenship by investment in 2019 and 2020
#5-Turkey: Turkey is ranked 64 in the human development ranking. From all the CBI countries, it is the country with the largest population. Turkey made it to the top 5 list because it offers an E-2 visa treaty with the US and has a very strong GDP of $2.3 trillion. However, it does not offer a Schengen visa, nor it allows for a free-visa entry to the UK and Ireland. One of our favorite things from Turkey is that an investor can choose whatever real estate property he wishes (as long as it meets the minimum investment requirement). In other words, applicants are not only limited to the government-approved developments.
#4-Malta: The best citizenship by investment in 2019 and 2020 was almost awarded to Malta. The country has reached its application quota; therefore, citizenship is no longer available, but applicants can choose a permanent residency option. Malta is one of the richest countries in Europe with a GDP per capita of $48,246 (2019). It offers full European Union rights because it is one of the member countries.
Regarding traveling options, Malta is also an excellent choice because it offers access to the Schengen area and is the only country in Europe which does not need a visa to enter the United States. The country has not made it to the first position in the “residency by investment in 2019” and “best citizenship by investment” lists because it has no real estate investment option and the processing is one of the slowest. The processing period can be longer than one year. It is also one of the most expensive programs.
#3-Montenegro: Montenegro also offers a real estate option to acquire a second passport. The country is not a member of the EU, but it is planned to join the Union by 2025. It does not have minimum stay requirements. Regarding accessibility, Montenegro has the advantage to offer free visa access to Russia, the largest country in the world and one of the main business and intellectual powers.
On the other hand, Montenegro does not offer free visa access to the UK and Ireland. The country also has an E-2 agreement with the United States, which can be a very good gateway to doing business in America. Thanks to its good accessibility and to the fact that it does not have a minimum stay requirement stipulated, Montenegro ranks among the best 5 passports for 2019 and 2020.
#2-Cyprus: Cyprus CBI is currently not available, but it has been a great option during the past 2 years. It was the most expensive program, but it offered a real estate option. Due to the fact that this is a European Union country and one of the richest countries in the continent, and thanks to its business incentives and convenient tax regime (corporate tax is only 12.5%), Cyprus reached the second position in the best citizenship by investment ranking. In Cyprus, the residency program by investment is still available, and you can read about it in this article.
#1-Grenada: We put Grenada in the first place for the best citizenship by investment in 2019 and 2020, and things are looking good for 2021. Grenada is able to combine different factors that make it the best program. It is one of the cheapest CBI available and it offers a real state option, which most investors prefer over the government donation option. Moreover, there are currently very interesting developing projects that qualify for citizenship, you are welcome to find more information on these projects here.
Grenada has great accessibility. It offers visa free to two of the most important economic powers: Russia and China, and it is also an E-2 visa country. Hence, the Grenada citizenship opens the possibility of business in the USA, Russia, and China. The country´s safety has improved significantly in the past years, making it even a better place where to live, however, Grenada has no minimum stay requirements.
To sum up, Grenada has it all: excellent real estate options to acquire citizenship, great accessibility and visa waivers, low cost, safety, and no minimum stay requirements. Grenada is the best option to build your financially-free future.
At Mundo, we have partners offering these programs as well as others. We recommend asking for a consultation in order to choose the best citizenship by investment program for you and your family. Apply now for a second passport and protect your assets for the generations to come.
