Acquiring a second passport can give you lifelong benefits in living, travelling, doing business, investing, and even paying your taxes. That being said, it could be one of the best decisions you’ll ever make in your life! And, obtaining a second passport through a legitimate citizenship by investment program is one of the best ways to go.
In this blog, we will discuss the best passports to acquire in 2019. The citizenship by investment industry is always changing and as an investor, you should know the latest updates.
Here are the best second passport investments:
1. Bulgaria
A Bulgarian passport offers the holder a visa-free travel to over 153 countries, except the USA. As a partial member of the Schengen Region, a passport from Bulgaria gives you access to all of Western Europe (Switzerland and West Germany). The holder may work in the UK as well.
Furthermore, the main applicant and his/her family members will be granted with residence after passing the background check.
To obtain this citizenship by investment program, you will be required to make an investment of BGN 1 million (€511,292) in a Governmental Bond Portfolio for a period of five years. You will be required to visit the country twice too.
It will take two years to get your passport.
2. St. Lucia
St. Lucia passport provides visa-free travel to 121 countries, as well as visa-free travel to Switzerland or a 180-day access in the Schengen area.
Considering that you’ll pay half the cost of a Bulgarian passport, acquiring a St. Lucia passport is considered ‘best value’
3. Malta
A Maltese citizenship is third on their list because it gives you an opportunity to live and work anywhere in the European Union. In fact, this country’s passport is the 8th most valuable passport in the world. It offers visa-free travel to 166 countries including the United States (unlike the Bulgarian passport). The holder is also granted access to Switzerland too.
4. Cyprus
Despite being the third smallest nation in the EU, a Cyprus citizenship by investment is one of the best options for entrepreneurs. The country boasts a strong financial services sector. It is a ‘business hub’ because of their low corporate tax rate. As a second passport holder, you will receive the same rights and protection like other Cyprus citizens too.
5. Austria
Dubbed as the ‘golden passport’, the Austrian citizenship is for people who don’t mind the costs (a.k.a. the super rich). It is the most expensive and the fourth most valuable passport for sale. This document offers visa-free travel to 171 countries. Also, a full Austrian citizenship and passport are granted immediately even without residency when you donate €2 to €4 million to the Austrian economy or when you invest about US$10 million in an approved business.
Apart from these major expenses, you should prepare almost half a million US dollars for government fees plus application and due diligence costs.
6. Russia
A Russian citizenship is one of the most cost-effective options as of today. The Russian passport offers visa-free access to 71 countries and territories, making it the 38th most powerful travel document in the world. As a citizen of this superpower country, you can also apply e-visa to enter 23 countries and fill out 20 visas on arrival.
To acquire their country’s citizenship, you must invest in a business or set up your own venture that will employ a number of people and generate tax revenues to the country. Some people even qualified for a Russian passport after investing US $165,000.
7. Dominica
Of all the Caribbean territories, the Dominica passport is the least expensive. A family with four members can obtain their citizenship and their second passports for less than the cost of a single passport from St. Kitts (filing, registration, and professional fees included).
However, a travel document from Dominica gets you visa-free travel to only 91 countries. It’s the 41st most valuable passport all over the world.
8. Antigua and Barbuda
Ranked as the 24th most powerful travel document in the world, an Antigua and Barbuda passport will let you enter in 132 countries visa-free… including the U.K, Schengen area, Singapore, Hong Kong, and Australia.
It is also one of the fastest document processing. After undergoing the Antigua & Barbuda citizenship by investment program, you and your family will obtain your passports in as short as three months.
According to the investment advisory firm Terranova Global, most people who buy a second citizenship in this country are either business people who have families. The program enables them to obtain a second passport for their kids (under 26) and elderly family members (above 65).
9. St. Kitts and Nevis
This is one of the oldest (and most availed) citizenship by investment programs in the world. It’s straight forward. You don’t need to visit or stay in St. Kitts nor pass a citizenship test. All you need to do is invest US $200,000 in a real estate or make a donation of US $150,000 to their government.
If you’re not planning to stay in St. Kitts, Terranova Global recommends the donating to the government. For one, real estate is expensive (some people paid more than US $500,000 for a family home in 2016). Plus, you don’t have to pay taxes and maintenance costs that come with any property.
10. Grenada
The last country on our list has a passport that lets you access 110 countries, including the United Kingdom, Hong Kong, South Korea, Singapore, Panama, and most British Commonwealth nations. Unfortunately, it does not give you visa-free travel to Canada and the US.
To obtain this citizenship, you can invest in real estate or make a donation their government (like other Caribbean Islands).
We hope you’ve found this post helpful. For more information on second passports and citizenship by investment programs, reach out to a legit and legal investment advisory firms.
Isla