Second Passports

Cheapest Citizenship by Investment Programs Right Now

  • Author Written by Brandon Rowe
  • Reviewed by Mark Nestmann
  • Calendar Updated: February 27, 2024
As Featured on

Contents

Note: all costs in this article are expressed in US dollars.

Getting a second citizenship by investment was not nearly as popular when we first joined the business in 2007. However, since then, it’s become an ever more important wealth protection planning tool for clients around the world.

In our case, we work with US clients. To them, a second passport offers many benefits, as you’ll read in this article.

But how much does it cost to get those advantages? And what is the cheapest way to do it?

We’ll talk about that in this piece. And we provide a list of the cheapest citizenship by investment programs on the market today. With detailed price breakdowns.

What is Citizenship by Investment

If you’re new to all this, the idea of getting a second citizenship can be confusing. So, allow me to give you a bit of context.

Citizenship means “to belong” to a country. As a citizen, you have the most rights (and responsibilities) under that country’s laws. For most of our clients, the most valuable right is to a passport.

A second citizenship means “belonging” to a second country. There are a number of reasons people do so:

  • The right to live in another country (or group of countries).
  • Access to investment opportunities that non-citizens don’t have.
  • Avoid being targeted if you carry a passport not well received in certain parts of the world.
  • Ability to leave your home country if your home country passport is revoked.
  • Access to embassy services of your second country as needed.

There are different ways to get a second citizenship. In this article, we’re talking about Citizenship by Investment (CBI) programs. The programs are very different but share one thing. They all require you to put money into a country’s economy.

For obvious reasons, most people would like to do so at the lowest price possible.

To do so, first you need to understand how the numbers are put together in the first place.

Overview of the Cheapest Citizenships to Buy

Let’s talk about the cheapest citizenship to buy. The price varies by country. The highest cost is the “base cost”. Some programs cut costs by trimming extra fees.

Here are some types of fees you may encounter:

  1. Investment Criteria or Government Contribution
  2. Due Diligence Fees
  3. Legal and Professional Fees
  4. Government Processing Fees
  5. Other Fees

Let’s go through each one in turn…

1) Investment Criteria / Government Contribution

Different programs have different requirements. But, most fall into one of these categories:

  • Donation to some sort of economic development fund.
  • Real estate investment.
  • Investment into a company.
  • Government bonds.

Most programs offer a choice.

2) Due Diligence Fees

This is what the program charges you to do their homework on you. They will need to verify a number of details, do a background check, and ensure that the funds you’re using to purchase the citizenship come from legal sources.

Generally, anyone over the age of 16 has to go through a due diligence process. For some programs, any dependent older than 12 is subject to due diligence.

3) Legal and Professional Fees

We’re not aware of any program that will interact with an applicant directly. Instead, you will work with a representative. They will submit your application (or work with a licensed person) on your behalf.

There is a fee to do this, which will vary from firm to firm. A single applicant can expect to pay at least $15,000 in professional fees to that representative. An applicant with dependents can anticipate professional fees of $20,000 or more.

4) Government Processing Fees

Some programs have their own “government processing fees.” These can range from a few thousand to tens of thousands of dollars.

5) “Other” Fees

Then there’s a class of “other” fees as well. Different programs have different “other” fees. Some of the most common include courier charges, passport issuance fees, and optional expedited fees if you’re in a rush.

The Cheapest Programs

Here is a list of the cheapest citizenship by investment programs on the market. It starts with the lowest cost.

Antigua and Barbuda

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of Antigua and Barbuda (AI Art)
Watercolor Art of Antigua and Barbuda (AI Art)

These two tropical islands are located in the eastern Caribbean, about 70 miles from St. Kitts, with Antigua by far the most populous island. Most of Barbuda consists of a nature sanctuary, although the island was devastated by a Category 5 hurricane in 2017.

The islands achieved independence from the UK in 1981. The islands’ citizenship by investment program was launched in 2013.

An Antigua and Barbuda passport offers visa-free entry or entry with minimal visa requirements to more than 150 countries, including all member states of the EU.

Travel to the US and Canada requires a visa.

Citizenship from Antigua and Barbuda also provides a substantially expanded ability to live or work in countries that are also full members of the Organization of Eastern Caribbean States (OECS): the Commonwealth of Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines.

The options to acquire citizenship under the program are:

  • National Development Fund. A $230,000 non-refundable contribution plus a $10,000 processing fee. The main applicant may include up to three qualified dependents without making a larger contribution or paying additional processing fees. For a family of four or less, a $20,000 processing fee applies. For a family of five or more, there’s a $20,000 processing fee plus $10,000 for each additional dependent.

  • University of the West Indies (UWI) Fund. A $260,000 non-refundable donation gives a family of six or more members citizenship. This option entitles one family member to a one-year scholarship at the UWI. No processing fees are payable except for families of seven or more, in which case a fee of $10,000 applies for each additional qualified dependent.

  • Qualifying real estate. A purchase with a minimum value of $300,000 plus a processing fee of $10,000 covers a family of up to three persons. For a family of four, the processing fee increases to $20,000. For larger families, there’s a $20,000 processing fee plus an additional $10,000 for each additional qualified dependent. The real estate cannot be re-sold until five years after the purchase, unless purchasing an alternate officially approved real estate property in Antigua and Barbuda.

  • Business investment. Make an investment of $400,000 or more in an approved joint investment with at least one other person with a total value of $5 million or more. Or invest $1.5 million or more on your own in an approved local business. This investment plus a processing fee of $10,000 covers a single applicant. For a primary applicant with up to three dependents, the processing fee increases to $20,000. For larger families, there’s a $20,000 processing fee plus an additional $10,000 for each additional qualified dependent.

For all options, qualified dependents include:

  • An opposite-sex spouse of the main applicant;

  • A child of the main applicant or his or her spouse who is under 30 years of age and is financially dependent on the principal applicant;

  • A child of the main applicant or of his/her spouse who is 18 years or older, but who is physically or mentally handicapped and who is living with and is fully supported by the main applicant;

  • A parent or grandparent of the main applicant, or his or her spouse, who is 55 years of age or older and who is financially dependent on the principal applicant;

  • A sibling of the main applicant, or of his or her spouse, if unmarried;

  • A future spouse of the main applicant. (A fee of $50,000 is payable upon application);

  • A future spouse of dependent children where the dependent child is financially dependent on the main applicant; and

  • A future child of a dependent child. (A fee of $10,000 is to be payable for children under six years of age and $20,000 for children 6-17 years of age).

For all options, due diligence fees apply. They are $8,500 for the main applicant, $5,000 for the main applicant’s spouse, $2,000 for qualified dependents 12-17 years old, and $4,000 for qualified dependents 18 years old or older. If the main applicant’s application is funded by a benefactor, that person must pay a $5,000 due diligence fee.

You can also anticipate paying professional fees of $15,000 or more to have your application processed.

Table Summary

Investment Option Single Applicant Applicant and Spouse Family of 4 Additional Dependents
National Development Fund
  • $230,000 contribution
  • $10,000 processing fee
  • $8,500 due diligence fee
  • professional fee
  • $230,000 contribution
  • $20,000 processing fee
  • $13,500 due diligence fee
  • professional fee
  • $230,000 contribution
  • $20,000 processing fee
  • $8,500 minimum due diligence fee
  • professional fee
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
  • $10,000 per dependent.
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
University of the West Indies (UWI) Fund
  • Not available
  • Not available
  • Not available
  • For families of six or more, a $260,000 donation
  • $8,500 minimum due diligence fee
  • professional fee.
  • For families of seven or more, a processing fee of $10,000 applies for each additional dependent.
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
Qualifying Real Estate
  • $300,000 minimum investment
  • $10,000 processing fee
  • $8,500 due diligence fee
  • professional fee
  • $300,000 minimum investment
  • $20,000 processing fee
  • $13,500 due diligence fee
  • professional fee
  • $300,000 minimum investment
  • $20,000 processing fee
  • $8,500 minimum due diligence fee
  • professional fee
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
  • $10,000 per dependent.
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
Approved Joint Investment
  • A $1.5 million solo investment or a $400,000 minimum investment in a joint investment with a total value of $5 million
  • $10,000 processing fee
  • $8,500 due diligence fee
  • professional fee
  • A $1.5 million solo investment or a $400,000 minimum investment in a joint investment with a total value of $5 million
  • $20,000 processing fee
  • $13,500 due diligence fee
  • professional fee
  • A $1.5 million solo investment or a $400,000 minimum investment in a joint investment with a total value of $5 million
  • $20,000 processing fee
  • $8,500 due diligence fee
  • professional fee
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.
  • $10,000 per dependent.
  • Dependents 12-17 subject to a $2,000 due diligence fee.
  • Dependents 18+ subject to a $4,000 due diligence fee.

Click here to view a larger version.

Is it Worth it?

Antigua and Barbuda is popular simply because  it offers one of the lowest-cost options for citizenship for large families. But for smaller families, once you include the processing fees, there are often better options available. 

Commonwealth of Dominica

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of Dominica (AI Art)
Watercolor Art of Dominica (AI Art)

Dominica (formally the “Commonwealth of Dominica” to distinguish it from the Dominican Republic) is a 300-square-mile tropical island. It is located about 1,400 miles southeast of Miami.

Once a colony of France and later Great Britain, Dominica achieved independence in 1978.
The official language is English, but many islanders, especially the older ones, speak a local French dialect.

Dominica has become a fixture on the ecotourism circuit for its mountain scenery, volcanically heated hot springs, and many waterfalls. It has one of the only two boiling lakes on the planet. It’s also the second oldest CBI program in existence, continuously operating since 1993.

A Dominica passport gives you visa-free entry or permits obtaining a visa upon arrival to more than 140 countries, including all EU members (other than Ireland), Switzerland, Singapore, and Hong Kong.

Visas are required for entry to the US, UK, and Canada.

Citizenship from Dominica also provides a substantially expanded ability to live or work in countries that are full OECS members.

There are two options:

  • Economic Diversification Fund. The minimum non-refundable contribution is $200,000. This qualifies a single applicant for citizenship. A donation of $250,000 qualifies you and up to three qualified dependents for citizenship. An additional donation of $25,000 is required for any additional qualified dependents under the age of 18 and $40,000 for each one over the age of 18.
  • Qualified Real Estate. Alternatively, you may purchase real estate in an approved project with a minimum value of $200,000. Real estate must be held for either three years from the date citizenship is granted or, if the future purchaser is also a Citizenship by Investment applicant, five years from the date citizenship is granted. Processing fees are: $75,000 for a single applicant, $100,000 for an applicant and up to three qualified dependents, $25,000 for each additional qualified dependent under the age of 18, and $50,000 for each additional qualified dependent over 18.

Qualified dependents include:

  •  The opposite-sex spouse of the main applicant.
  • A child under 18 years of age of the main applicant or the spouse of the main applicant.
  • A child of the main applicant or the spouse of the main applicant between 18 and 30 years who attends a recognized institution of higher learning and fully supported by the main applicant or the spouse of the main applicant.
  • An unmarried daughter of the main applicant or the spouse of the main applicant who is under 25 years of age and is living with and fully supported by the main applicant or the spouse of the main applicant.
  • A child of the main applicant or the spouse of the main applicant who is 18 of age or older and physically or mentally challenged and who is fully supported by the main applicant or the spouse of the main applicant.
  • Parents or grandparents of the main applicant or the spouse of the main applicant above the age of 65 years who are substantially supported by the main applicant or the spouse of the main applicant.

For all applications, an application fee of $1,000 applies, along with due diligence fees of $7,500 for the main applicant; $4,000 for the main applicant’s spouse; and $4,000 for each dependent over the age of 15, as well as a $1,000 interview fee. You can also expect to pay legal fees of $15,000 or more. Applicants aged 16 or older must attend a virtual interview and are subject to an interview fee of $1,000.

Table Summary

Investment Option Single Applicant Applicant and Spouse Family of 4 Additional Dependents
Economic Diversification Fund
  • $200,000
  • $1,000 application fee
  • $7,500 due diligence fee
  • $1,000 interview fee
  • $500 naturalization fee
  • $250,000
  • $1,000 application fee
  • $11,500 due diligence fee
  • $2,000 interview fee
  • $1,000 naturalization fee
  • $250,000
  • $1,000 application fee
  • 7,500 due diligence fee
  • $1,000 interview fee for main applicant.
  • Dependents over 15 are subject to a $4,000 due diligence fee a $1,000 interview fee.
  • Each applicant subject to $500 naturalization fee.
  • $25,000 for each additional dependent under 18 and $40,000 for each one over of 18
  • applicable due diligence, interview, and naturalization fees.
Qualified Real Estate
  • $200,000
  • $7,500 due diligence fee
  • $75,000 government fee upon approval
  • $1,000 interview fee
  • $500 naturalization fee
  • closing fees
  • $200,000
  • $11,500 due diligence fee
  • $100,000 government fee upon approval
  • $2,000 interview fee
  • $1,000 naturalization fee
  • closing fees
  • $200,000
  • $7,500 due diligence fee
  • $75,000 government fee upon approval
  • $1,000 interview fee
  • closing fees for main applicant
  • $100,000 government fee upon approval.
  • Dependents over 15 are subject to a $4,000 due diligence fee + a $1,000 interview fee.
  • Each applicant subject to $500 naturalization fee.
  • $25,000 for each additional dependent under 18 and $40,000 for each one over of 18
  • applicable due diligence, interview, and naturalization fees.

Click here to view a larger version.

Is it Worth it?

Dominica’s citizenship by investment program is well-established and cost-effective, with a clear process to a second passport.

It is especially attractive for single applicants.

DISCLAIMER: We represent clients looking to achieve citizenship by investment through this program.

I worked with The Nestmann Group on getting a second citizenship. Brandon and Mark, and the whole organization, did a great job for me. They were expert and prompt. I especially appreciated the fact that they so clearly put my interests first. I would highly recommend The Nestmann Group. 

T. Bohmann*, Houston, Texas

*Name changed to protect client’s privacy.

I have been a client of the Nestmann Group for many years. They helped me obtain a Dominica passport. Their service was professional, competent, and trustworthy.

John*, Michigan

*Name changed to protect client’s privacy.

I felt having a second passport from Dominica would give me additional freedom in an uncertain world. I wanted to be sure there was always an option for me to live free of government abuse.

I chose to work with The Nestmann Group because I have been following them for years and had developed a comfort level that made me able to trust them with this important transaction.

In particular, I appreciated the quick turnaround time. I rarely had to wait long for an answer. When you’re making this kind of an investment, you want someone who is attentive to your needs and they were.

Thomas M, Florida

Saint Lucia

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of Saint Lucia (AI Art)
Watercolor Art of St. Lucia (AI Art)

This Caribbean Island nation is located about 200 miles north of Venezuela. Formerly a British dependent territory, St. Lucia achieved independence in 1979.

The country’s CBI program came into existence in 2015.

A St. Lucia passport gives you visa-free entry or permits obtaining a visa upon arrival to nearly 150 countries, including all EU members, Switzerland, Singapore, and Hong Kong.

Visas are required for entry to the US and Canada.

Citizenship from St. Lucia also provides a substantially expanded ability to live or work in countries that are full OECS members.

The country’s CBI program came into existence in 2015. To obtain citizenship, you must make an investment in one of four areas:

  1. National Economic Fund. The minimum non-refundable contribution is $240,000. This qualifies a main applicant with up to three dependents for citizenship. Each additional qualified dependent under the age of 18 costs $10,000; each dependent over 18 costs $20,000.  Qualified dependents of a citizen other than a spouse or child cost $25,000.

  2. Qualified Real Estate. A $300,000 investment in high-end boutique properties or branded hotels qualifies a main applicant and any number of dependents for citizenship. This option requires payment of an administrative fee of $30,000 for the main applicant, $45,000 for an applicant and spouse, plus $5,000 for each qualified dependent under the age of 18 and $10,000 for each dependent over 18. The investment must be held for at least five years.

  3. National Action Bond. A $300,000 investment in non-interest-bearing government bonds that is refundable after five years plus a non-refundable $50,000 administrative fee per application qualifies a main applicant and any number of qualified dependents for citizenship.

  4. Enterprise Project. A $250,000 minimum investment in an approved enterprise plus a $50,000 non-refundable administrative fee qualifies a main applicant and up to three qualified dependents for citizenship. There are also higher investment tiers available for those interested in setting up their own enterprise project or investing in a joint venture. Administrative fees of $15,000 apply for a single applicant; $20,000 for an applicant and spouse; $30,000 for an applicant with up to three qualified dependents; and $10,000 for each additional dependent.

A qualified dependent is:

  1. An opposite-sex spouse of the main applicant. In the case of legal polygamy, “spouse” shall mean the first husband or wife.

  2. A child of the main applicant or of his or her spouse who is 21 years of age or below.

  3. A child of the main applicant or of his or her spouse who is no more than 30 years of age and who is fully supported by the principal applicant.

  4. A child of the main applicant or his or her spouse, of any age, who is physically or mentally challenged and fully supported by the main applicant.

  5. A parent of the main applicant or of his or her spouse who is above 55 years of age and who is fully supported by the main applicant.

  6. A parent of any age, of the main applicant or his or her spouse, who is physically or mentally challenged and fully supported by the main applicant.

  7. An unmarried sister or brother of the main applicant who is below 18 years of age and who has received the consent of his or her parent or guardian to make an application for citizenship by investment.

For all options, you’ll need to pay a processing fee of $2,000 plus $1,000 per qualified  dependent and a due diligence fee of $7,500 for the main applicant and $5,000 for each dependent over 15.

Table Summary

Investment Option Single Applicant Applicant and Spouse Family of 4 Additional Dependents
National Economic Fund
  • $240,000
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee
  • $240,000
  • $12,500 due diligence fee
  • $3,000 application fee
  • professional fee
  • $240,000
  • $7,500 due diligence fee
  • $2,000 application fee for main applicant
  • $1,000 application fee per dependent
  • $5,000 due diligence fee per dependent over 15.
  • $10,000 each (under 18); $20,000 (over 18); $25,000 (dependent other spouse or child)
  • $1,000 application fee per dependent
  • $5,000 due diligence fee per dependent over 15.
Qualified Real Estate
  • $300,000
  • $30,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee
  • closing fees
  • $300,000
  • $45,000 administrative fee
  • $12,500 due diligence fee
  • $3,000 application fee
  • professional fee
  • closing fees
  • $300,000
  • $30,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee
  • closing fees for main applicant
  • $15,000 administrative fee (spouse) or $5,000 per additional dependent
  • $1,000 application fee per dependent
  • $5,000 due diligence fee per dependent over 15.
  • $10,000 each (under 18); $20,000 (over 18); $25,000 (dependent other spouse or child)
  • $5,000 administrative fee
  • $1,000 application fee
  • $5,000 due diligence fee per dependent over 15.
National Action Bond
  • $300,000
  • $50,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee
  • $300,000
  • $50,000 administrative fee
  • $12,500 due diligence fee
  • $3,000 application fee
  • professional fee
  • $300,000
  • $50,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee for main applicant
  • $1,000 application fee per dependent and $5,000 due diligence fee for each dependent over 15.
  • $1,000 application fee per dependent and $5,000 due diligence fee for each dependent over 15.
Enterprise Project
  • $250,000
  • $50,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee
  • $250,000
  • $50,000 administrative fee
  • $12,500 due diligence fee
  • $3,000 application fee
  • professional fee
  • $250,000
  • $50,000 administrative fee
  • $7,500 due diligence fee
  • $2,000 application fee
  • professional fee for main applicant
  • $1,000 application fee per dependent and $5,000 due diligence fee for each dependent over 15.
  • $1,000 application fee per dependent and $5,000 due diligence fee for each dependent over 15.

Click here to view a larger version.

Is it Worth it?

The bond option is attractive since you can make (in theory) a 100% refundable investment. Keep in mind, though, there are risks to this strategy, namely in the government’s creditworthiness. But for now, the government’s credit rating is BBB+ (adequate) and the outlook is stable. Of course, that could change anytime.

You also lose the ability to use that money for more profitable investments.

And lastly, St. Lucia’s program is still relatively young. We’d like to see a longer track record before recommending it to clients.

Grenada

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of Grenada (AI Art)
Watercolor Art of Grenada (AI Art)

This tropical main island and six smaller islands are located in the eastern Caribbean, about 100 miles north of Trinidad and Tobago and Venezuela. Grenada is famous for its spices and is known as the “Isle of Spice.”

A former British colony, Grenada gained independence in 1974.

The government initiated its first citizenship by investment program in 1997.

About 1,000 persons were granted citizenship and a Grenadian passport after making a $40,000 contribution.

Shortly after the terrorist attacks of September 11, 2001, Grenada suspended the program. After the suspension, Grenada refused to renew at least some of the passports it had issued, resulting in an effective loss of citizenship.

In 2013, a second citizenship by investment program came into effect. The details below are for that program.

A Grenada passport gives you visa-free entry or permits obtaining a visa upon arrival to nearly 150 countries, including all EU members, Switzerland, Singapore, and Hong Kong.

Visas are required for entry to the US and Canada.

Citizenship from Grenada also provides a substantially expanded ability to live or work in countries that are full OECS members.

There are two options:

  • National Transformation Fund (NTF). The required donation is $235,000 for a family with up to four members. Families with more than four members may add a qualified dependent under 18 for $25,000 each; $50,000 for dependents over 18, or $75,000 for siblings of the main applicant or the main applicant’s spouse.  Parents or grandparents of the main applicant or the main applicant’s spouse over the age of 55 may be added as dependents for $25,000 each.

  • Qualified Real Estate. There are two options:

    1. Make an investment of $270,000 or more in shares of a government approved real estate project.

    2. Make an investment of $350,000 or more in a single unit of a government approved real estate project.

A registration fee of $50,000 applies for the main applicant and $25,000 for each dependent beyond three dependents. You must hold this property for a minimum of five years before you sell it.

A qualified dependent is considered someone who is financially dependent on the main applicant. This includes a spouse, children, parents, grandparents, and siblings of the main applicant or the main applicant’s spouse.

For both options, there is an application fee of $1,500 per person, due diligence fees of $7,500 for each applicant 17 or older, and a processing fee of $1,500 per person; $500 for applicants under the age of 18. Applicants aged 17 or over are also subject to an interview fee of $1,000.

Until 2023, we suggested Grenada to US applicants:

  • who were 100% certain they would renounce US citizenship after getting a second citizenship, AND

  • wanted to be able to visit the US without needing a sometimes hard-to-obtain visitor’s visa, AND

  • were unable to qualify for citizenship by naturalization from a country that already offers visa-free travel to the United States.

In this situation, we suggested Grenada because it has an investor visa treaty with Uncle Sam. This route offers an easier way to re-enter the country than a visitor’s visa, which can be difficult for an expatriated US citizen to obtain.

However, a new federal law that took effect in 2023 makes it much more difficult to qualify for a US investor visa from a country with a citizenship by investment program in effect. In that situation, you must demonstrate that you have been “domiciled” in that country for at least three years.

The term “domicile” refers to a person’s permanent home. To prove you are domiciled in Grenada, you need to demonstrate deeper ties to that country than any other country. Even living in Grenada for three years or longer wouldn’t necessarily make you domiciled there. Instead, you would need to demonstrate, in effect, Grenada is your permanent home and the center of your vital interests.

Table Summary

Investment Option Single Applicant Applicant and Spouse Family of 4 Additional Dependents
National Transformation Fund (NTF)
  • $235,000
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee
  • $235,000
  • $15,000 due diligence fee
  • $3,000 application fee
  • $3,000 processing fee
  • professional fee
  • $235,000
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee for main applicant + $1,500 application fee and $1,500 processing fee per dependent
  • $5,000 due diligence fee per dependent over 16.
  • $25,000 each (under 18); $50,000 (over 18); $25,000 (parents and grandparents over 55)
  • $1,500 application fee and $1,500 processing fee per dependent
  • $5,000 due diligence fee per dependent over 15.
Qualified Real Estate (shares)
  • $270,000
  • $50,000 registration fee
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee
  • closing fees
  • $270,000
  • $75,000 registration fee
  • $15,000 due diligence fee
  • $3,000 application fee
  • $3,000 processing fee
  • professional fee
  • closing fees
  • $270,000
  • $50,000 registration fee
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee
  • closing fees for main applicant
  • $25,000 registration fee, $1,500 application fee and $1,500 processing fee per dependent
  • $7,500 due diligence fee per dependent over 16.
  • $25,000 each (under 18); $50,000 (over 18); $25,000 (parents and grandparents over 55)
  • $1,500 application fee and $1,500 processing fee per dependent
  • $5,000 due diligence fee per dependent over 15.
Qualified Real Estate (single unit)
  • $350,000
  • $50,000 registration fee
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee
  • closing fees
  • $350,000
  • $75,000 registration fee
  • $15,000 due diligence fee
  • $3,000 application fee
  • $3,000 processing fee
  • professional fee
  • closing fees
  • $350,000
  • $50,000 registration fee
  • $7,500 due diligence fee
  • $1,500 application fee
  • $1,500 processing fee
  • professional fee
  • closing fees for main applicant
  • $25,000 registration fee, $1,500 application fee and $1,500 processing fee per dependent
  • $7,500 due diligence fee per dependent over 16.
  • $25,000 each (under 18); $50,000 (over 18); $25,000 (parents and grandparents over 55)
  • $1,500 application fee and $1,500 processing fee per dependent
  • $5,000 due diligence fee per dependent over 16.

Click here to view a larger version.

Is it Worth it?

Until 2023, this program might have been the right fit for US clients under the narrow set of circumstances we described above. Now that this opportunity has effectively ended, we believe there are better options available.

Saint Kitts and Nevis

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of St. Kitts & Nevis (AI Art)
Watercolor Art of St. Kitts & Nevis (AI Art)

St. Kitts and Nevis (officially named the Federation of St. Christopher and Nevis) is a country comprised of two tropical islands in the West Indies. St. Kitts is larger and more populous. Nevis is smaller and more rural.

The country has the world’s oldest continuously operational CBI program. It came into existence in 1984, shortly after St. Kitts and Nevis achieved full independence from the UK.

St. Kitts and Nevis passport holders can travel without a visa or obtain a visa upon entry to more than 150 countries, including all EU members, Hong Kong, and Singapore.

Travel to the US and Canada requires a visa.

This program therefore offers the highest-quality passport among Caribbean citizenship by investment programs, albeit at a slightly higher price point than its local competitors.

Citizenship from St. Kitts and Nevis also provides a substantially expanded ability to live or work in countries that are full OECS members.

There are four options available:

  1. Sustainable Island State Contribution (SISC). A non-refundable donation of $250,000 qualifies a family of up to four members to citizenship. Each additional dependent up to age 18 requires an additional $25,000 donation. Each additional dependent over 18 costs an additional $50,000.

  2. Public Benefit Option. This option is intended for investors who would like to develop a project bringing substantial public good to the people of St. Kitts and Nevis. The required donation is a minimum of $250,000 which qualifies a family of any number of members to citizenship. Upon approval, dependents of the main applicant are subject to an administrative fee: $15,000 for the spouse of the main applicant, $10,000 for each qualified dependent under 18, and $15,000 for each qualified dependent over 18.

  3. Developer’s Real Estate Investment Option. A purchase with a minimum value of $325,000 at an approved development. You may sell this investment after seven years. Upon approval, all applicants are subject to an administrative fee: $25,000 for the main applicant; $15,000 for the spouse of the main applicant, $10,000 for each qualified dependent under 18, and $15,000 for each qualified dependent over 18.

  4. Private Real Estate Sale Option. A purchase with a minimum value of $325,000 in a condominium unit or a $600,000 investment in a single-family home designated as an Approved Private Home. You may sell this investment after seven years. However, this option will not qualify for purchase in a subsequent CBI application, unless the Federal Cabinet is satisfied that substantial further investment was injected into the real estate unit by way of further construction, renovation or otherwise. Upon approval, all applicants are subject to an administrative fee: $25,000 for the main applicant; $15,000 for the spouse of the main applicant, $10,000 for each qualified dependent under 18, and $15,000 for each qualified dependent over 18.

Qualified dependents are:

  • The opposite-sex spouse of the main applicant.
  • A child of the main applicant or the main applicant’s spouse under 18.
  • A child of the main applicant or the main applicant’s spouse between 18-25 who is in full time attendance at a recognized university and fully supported by the main applicant.
  • A child of the main applicant or the main applicant’s spouse over 18 who is physically or mentally challenged.
  • A parent of the main applicant or the main applicant’s spouse aged 65 years or older living with and fully supported by the main applicant.

All options require the payment of due diligence fees of $10,000 for the main applicant and $7,500 for each dependent 16 years old or older. The main applicant must also submit to a mandatory interview and pay a $1,000 interview fee. There is also a $250 application fee and $255 passport fee, both of which apply per applicant.

Table Summary

Investment Option Single Applicant Applicant and Spouse Family of 4 Additional Dependents
Sustainable Island State Contribution (SISC)
  • $250,000
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • $250,000
  • $17,500 due diligence fee
  • $500 application fee
  • $1,000 interview fee
  • $510 passport fee
  • professional fee
  • $250,000
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee for main applicant
  • $250 application fee, $255 passport fee per dependent
  • $7,500 due diligence fee per dependent over 16.
  • $25,000 each (under 18); $50,000 (over 18)
  • $250 application fee, $255 passport fee per dependent
  • $7,500 due diligence fee per dependent over 16.
Public Benefit Option
  • $250,000
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • $250,000
  • $17,500 due diligence fee
  • $15,000 administrative fee
  • $500 application fee
  • $1,000 interview fee
  • $510 passport fee
  • professional fee
  • $250,000
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee for main applicant
  • $15,000 registration fee for spouse of main applicant; $10,000 for each qualified dependent under 18, and $15,000 for each qualified dependent over 18
  • $250 application fee and $255 passport fee per dependent
  • $7,500 due diligence fee per dependent over 15.
  • $15,000 registration fee for spouse of main applicant; $10,000 for each qualified dependent under 18, and $15,000 for each qualified dependent over 18
  • $250 application fee and $255 passport fee per dependent
  • $7,500 due diligence fee per dependent over 15.
Developer’s Real Estate Investment (condo option)
  • $325,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • $325,000
  • $40,000 administrative fee
  • $17,500 due diligence fee
  • $15,000 administrative fee
  • $500 application fee
  • $1,000 interview fee
  • $510 passport fee
  • professional fee
  • $325,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee for main applicant
  • $5,000 due diligence fee per dependent over 15
  • $15,000 registration fee for spouse; $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent
  • $5,000 due diligence fee per dependent over 15
  • $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent
Developer’s Real Estate Investment (single unit option)
  • $400,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • closing fees
  • $400,000
  • $40,000 administrative fee
  • $17,500 due diligence fee
  • $15,000 administrative fee
  • $500 application fee
  • $1,000 interview fee
  • $510 passport fee
  • professional fee
  • closing fees
  • $400,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • closing fees for main applicant
  • $5,000 due diligence fee per dependent over 15
  • $15,000 registration fee for spouse; $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent
  • $5,000 due diligence fee per dependent over 15
  • $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent
Private Real Estate Sale Option
  • $600,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • closing fees
  • $600,000
  • $40,000 administrative fee
  • $17,500 due diligence fee
  • $15,000 administrative fee
  • $500 application fee
  • $1,000 interview fee
  • $510 passport fee
  • professional fee
  • closing fees
  • $600,000
  • $25,000 administrative fee
  • $10,000 due diligence fee
  • $250 application fee
  • $1,000 interview fee
  • $255 passport fee
  • professional fee
  • closing fees for main applicant
  • $5,000 due diligence fee per dependent over 15
  • $15,000 registration fee for spouse; $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent
  • $6,000 due diligence fee per dependent over 15
  • $10,000 for dependents under 18; $15,000 for dependents over 18
  • $250 application fee
  • $255 passport fee per dependent

Click here to view a larger version.

Is it Worth it?

This is the oldest and best-established citizenship by investment program in the world. Although the fees are substantially higher than for comparable Caribbean options, St. Kitts and Nevis is worth serious consideration to those who require the assurance of continued visa-free access to the EU.

DISCLAIMER: We represent clients looking to achieve citizenship by investment through this program.

I signed up for a second citizenship program because I needed a Plan B.

I chose the Nestmann Group because they have a good track record with such programs and strong customer service. Gabi, in particular, always got back to us quickly when we had questions. Needless to say, I’m very happy to recommend them to my friends, families or anyone who wants to work with an experienced and professional team.

Dale S, Florida

I wanted a second passport because of its usefulness in an emergency. I chose the Nestmann Group because of their communication. I received a high level of professional service that got the job done — a St Kitts and Nevis citizenship for me and my wife.

Eric, South Africa

Vanuatu

Concept art of an article about the cheapest Citizenship by Investment: watercolor painting of Vanuatu (AI Art)
Watercolor Art of Vanuatu (AI Art)

Vanuatu (formerly known as the New Hebrides) is a group of 83 volcanic islands in the South Pacific, 68 of which are populated. It has a land area of around 4,700 square miles widely spread over an ocean region of 325,000 square miles – about the size of Arizona and California combined. The climate is tropical and most of the population of about 280,000 works in agriculture.

In 2014, the government authorized at least two and possibly three separate CBI options with different price points and no central administrative authority. In 2019, the government issued two sets of regulations to resolve ambiguities and price points for the program.

The last information we’ve been able to retrieve about the program shows a total of four options:

  1. Citizenship through the Capital Investment Immigration Plan
  2. Honorary Citizenship under Vanuatu Development Support Program
  3. Citizenship under Vanuatu Contribution Program
  4. Citizenship under Real Estate Option Program

Unfortunately, official guidance on how much each option costs isn’t easy to come by. On a web page published by the government’s Citizenship Office and Commission, the government mandated fees for the Capital Investment Immigration Plan are as follows:

  • Single applicant – $130,000
  • Married couple – $150,000
  • Married couple with one child – $165,000
  • Married couple with two children – $180,000.
  • Additional dependents – $10,000 each.

But on the exact same page is an announcement that the actual price is $260,000, which covers only a main applicant, their spouse, and one child under the age of 18. Additional dependents under 18 require an additional $19,250 payment. Additional dependents aged 18-21 cost an extra $44,250 per person.

Given a program this disorganized, it came as little surprise that in 2022, the EU warned Vanuatu that it could lose visa-free access to this bloc of nations if it did not reform its CBI program. When the country failed to do so, in early 2023, visa-free access to the EU was suspended for Vanuatu citizens whose passports were issued after May 25, 2015.

Currently, the Vanuatu passport offers visa-free access, or access with minimal visa formalities, to nearly 100 countries, but not the EU, the US, or Canada.

Our View

We don’t recommend this program because it’s so difficult to find accurate information about it. Caribbean passports offer much higher value.

What are the Cheapest Citizenship by Investment Programs?

Cheapest Passport for a Single Applicant

At this time, the cheapest passport for a single applicant is Dominica through the Economic Diversification Fund, requiring a donation of $200,000. The Dominica program is well-established, and its passport offers good visa-free travel options, although it’s not as powerful as a US passport.

Cheapest Passport for Families

The winner here is Grenada, which offers citizenship for a main applicant and up to three dependents for $235,000. The runners-up are Antigua & Barbuda and St. Lucia, which both offer citizenship for a main applicant and up to three dependents for $240,000.

For larger families, St. Kitts & Nevis Public Benefit Option offers citizenship for an unlimited number of family members for $250,000.

“Why Would I Invest in a Cheap Second Passport?”

There are many reasons to get a second citizenship. But in a word, it’s about freedom.

Your passport is the property of the government that issued it. If your government decides it doesn’t want you to travel internationally, it can simply revoke your passport.

That’s not just for criminals either. The State Department can legally take your passport if it wants. This power is often abused, with many native-born Americans stripped of their passports.

Here are the reasons our clients say they got a second citizenship…

1) Being Able to Travel to More Places Without Needing a Visa

One of the most compelling reasons for obtaining a second citizenship is the potential for easier travel.

Many passports, especially those from countries within the European Union, offer visa-free or visa-on-arrival access to a significant number of countries. This can simplify travel plans, reduce waiting times for visa approvals, and eliminate the need for extensive paperwork.

For US citizens who travel frequently for leisure or business, a second passport can open up a world of hassle-free travel opportunities. In particular, visits to the Middle East, China, and Russia are often much simpler to arrange with a second passport.

2) An Insurance Policy Just in Case

In an increasingly unpredictable world, having a second citizenship serves as a form of insurance. Political instability, economic downturns, or natural disasters can happen unexpectedly.

Having the option to reside in another country provides a safety net, allowing individuals and their families to relocate if the situation in their home country becomes untenable. This Plan B can offer peace of mind in turbulent times.

3) Business Opportunities

A second citizenship can also unlock new business opportunities. Some countries offer tax advantages, access to new markets, or more favorable business regulations.

Entrepreneurs and business owners may find that holding citizenship in another country simplifies the process of setting up and operating businesses there.

Additionally, being a citizen of the country where you’re doing business can foster trust and goodwill with local partners and customers.

4) No Longer a Target

US citizens traveling or living abroad can sometimes be targets for crime or political hostility due to the perception of wealth or political affiliations.

Holding a second passport and the ability to present oneself primarily as a citizen of a less conspicuous nation can reduce this risk.

This is particularly relevant in regions where anti-American sentiment is prevalent or in situations where being inconspicuous can ensure personal safety.

5) Education and Healthcare

Access to high-quality education and healthcare are significant motivators for seeking a second citizenship.

Many countries offer excellent, subsidized or even free education and healthcare benefits to their citizens. For families, the prospect of providing their children with access to good universities without the burden of high tuition fees is appealing.

Similarly, the availability of high-quality, affordable healthcare can be a strong incentive, especially for those facing the high costs of medical care in the US.

6) Giving Up US Citizenship

Finally, some individuals consider a second citizenship as a step towards renouncing their US citizenship.

Many people (including the folks in Washington) seem to think American expats give up their citizenship to avoid taxes. And, for some, that can play a part.

But, at least so far as our clients are concerned, it’s rarely the main motivator. In fact, we’ve had more than a few clients move to countries where taxes are actually higher.

They do it because the US government does not make it easy for expats to live abroad as Americans. Beyond the expensive accounting and asset reporting headaches, the long arm of US law simply makes day-to-day life more challenging in their adopted homelands.

At a certain point, they just give up and let go of their US citizenship.

Comparison of the Cheapest Citizenship by Investment

Advantages and Disadvantages

Country Single Applicant Cost Family Cost Advantages Disadvantages Cheapest for Single Applicant Cheapest for Families
Dominica
  • $200,000
  • $250,000 for family of 4
  • $25,000/$40,000 (child/adult) per additional dependent
  • Well-established program, cost-effective for singles, visa-free access to 140+ countries
  • Requires visa for US, UK, Canada.
  • Yes
  • No
Antigua and Barbuda
  • $230,000
  • $10,000 processing fee
  • $230,000 for family of 4
  • $10,000 processing fee
  • $20,000 processing fee plus $10,000 per additional dependent
  • Visa-free access to 150+ countries. Lowest cost for families.
  • Requires visa for US and Canada.
  • No
  • No
St. Lucia
  • $240,000
  • $240,000 for family of 4
  • $10,000/$20,000 (child/adult) per additional dependent; $25,000 other than spouse or child.
  • Visa-free access to 140+ countries, option for full refund of investment.
  • Young program with less track record, requires visa for US and Canada.
  • No
  • No
Grenada
  • $235,000
  • $235,000 for family of 4
  • $25,000/$50,000 (child/adult) per additional dependent; $25,000 for parents and grandparents over 55
  • Visa-free access to 140+ countries.
  • Requires visa for US and Canada
  • No
  • Yes
St. Kitts and Nevis
  • $250,000
  • $250,000 for family of 4
  • $25,000/$50,000 (child/adult) per additional dependent
  • Best established program with visa-free access to 150+ countries.
  • Requires visa for US and Canada
  • No
  • No
Vanuatu
  • $130,000 or $260,000
  • $260,000 for a family of 3
  • Visa-free access to nearly 100 countries.
  • Disorganized program, lost EU visa-free access.
  • Unclear
  • Unclear

Click here to view a larger version.

FAQs

Which passport is the most affordable for a single person?

Dominica and Grenada offer the lowest cost.

What is a cost-effective citizenship for a big family of six?

Antigua & Barbuda is suitable for large families. The UWI program caters to families of six or more.

Are there affordable options outside the Caribbean or Vanuatu?

Not really. Egypt, Jordan, Malta, and Turkey all have CBI programs, but they are all more expensive than the Caribbean programs. And all these countries with the exception of Malta offer inferior visa-free travel options in comparison to the Caribbean programs.

Which Citizenship by Investment Program is right for you?

At the end of the day, the best citizenship by investment program is not necessarily the cheapest; it’s the one that will help you reach your goals.

That may include visa-free access to a certain country. Or maybe you’re looking to move to the Caribbean and want to be treated as a local. Or perhaps you’re looking for a second citizenship that can open the door to new investment opportunities.

Whatever that goal is, be sure that the second passport you get will help you do that. We can help of course. Just schedule a free, no-obligation consultation with one of our associates to learn more.

About The Author

Brandon Rowe joined The Nestmann Group in 2013 with a background in the investment side of things. Since then, he has played a big part in helping our clients protect their wealth. Perhaps we can help you too? Learn more about our wealth protection planning.

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