A second passport can cost you a few hundred or thousand dollars in legal fees. That is, of course, if you acquire citizenship by marriage, descent, or by naturalization. This is the cheapest second citizenship you can acquire.
But what if you don’t have this opportunity? Then, you have citizenship by investment or fast-track naturalization programs. Through this, you can acquire citizenship making an investment or donation to a country’s government or at least obtain naturalization after a reduced period.
So, what is the cheapest second passport to buy? The answer is none. At Mundo we don´t sell passports and neither do the governments that offer these programs. The countries that offer citizenship by investment programs offer the possibility to acquire a second passport in exchange of a donation or an investment that will benefit both the country´s economy and the applicant.
Moreover, all applicants must go through the due diligence process in order to protect the nation´s reputation. The cheapest second passport and the cheapest second citizenship depends on a variety of factors. What do you mean by cheapest? Is it the one that you pay the less for or the one that makes more money for you? Do you mean the cheapest for a family of four or just you? Do you want the cheapest real estate investment or government donation? There’s not a single answer.
Yet, let’s answer the question from different perspective
Cheapest citizenship by investment overall: Saint Lucia and Dominica
These Caribbean islands demand the lowest investments by which you can receive a second passport. Thus, they are the cheapest second passport to acquire out there. They require a minimum $100,000 donation to the government. What is the best? It depends on many factors. Saint Lucia is a tourist hub, while Dominica has visa free access to Russia, for example. So, it’s mostly about what you’re exactly looking for.
Cheapest 2nd passport for a family: Antigua and Barbuda
Antigua and Barbuda is not the cheapest overall only because aside from the $100,000 minimum donation, it also requires a $25,000 application fee. However, the donation and fee covers spouse, dependent children with no age restrictions and dependent parents over 58 years old. Thus, for example, you can apply for you, your spouse, your three children, and your parents for just $125,000 plus due diligence and professional fees. This makes it the cheapest 2nd passport if you have a big family and want to apply with them.
Cheapest real estate option: Grenada
Technically, Dominica is also cheaper. However, government fees make it a bit more expensive than Grenada. The spice island grants citizenship to applicants that make a real estate investment of at least $220,000. Further, Grenada has one of the most extensive programs, allowing spouse, dependent children with no age restrictions, siblings, parents and grandparents of the main applicant and their spouse to be included in the application. Plus, Grenada is the only Caribbean CBI program with an E-2 treaty with the US.
Are you looking for a profitable investment that will get you a second passport? Please check this article on an excellent development in Grenada.
Most profitable passport: Turkey
Why is Turkey the most profitable passport? For a simple reason: You don’t have restrictions regarding your real estate investment. You can invest $250,000 in as many real estate projects you want and wherever you want in Turkey. Most CBI real estate options only allow you to invest in “government-approved programs”. On the one hand, this prevents scams, but on the other, it severely limits your chances to make money with your investment. Most of these investments will be overpriced and not very profitable.
That’s not the case with Turkey. You can design an investment strategy that will earn you money and will allow you to recover the investment you made.
Want to know more about these excellent CBI options? Contact us right now and we’ll put you in touch with our experts!
