In this review, we present a summary of countries where citizenship can be acquired through investment without the standard naturalization requirements — the most significant of which is usually several years of actual residence in the country. Other common requirements for ordinary naturalization include knowledge of the official language and the renunciation of previous citizenship (typical in countries that restrict or discourage dual nationality).
All these conditions are normally waived under official citizenship-by-investment programs. However, this does not mean that passports are “for sale.” Each citizenship-by-investment scheme includes a due diligence process designed to exclude individuals with criminal records or other security or reputation concerns.
Official citizenship-by-investment programs have existed for more than 40 years. In addition to those currently active, several former schemes have since been closed; we mention them at the end of this overview.
Citizenship by Investment in the Caribbean
There are five active economic citizenship programs in the Caribbean: Saint Kitts & Nevis, Dominica, Antigua & Barbuda, Grenada, and Saint Lucia. The minimum investment required to obtain one of these passports starts at USD 200,000. Each program typically offers two options:
- A refundable investment in slightly overpriced real estate plus higher government fees, or
- A non-refundable contribution to a government fund with a lower total cost and no large application fees.
Türkiye Citizenship
To obtain a Turkish passport, it is sufficient to purchase real estate worth at least USD 400,000. The purchase must be made in Turkish lira, and the property must be held for a minimum of three years.
Egypt Citizenship
To qualify for Egyptian citizenship, an investor must either:
- Purchase real estate worth at least USD 300,000 and maintain the investment for five years, or
- Deposit USD 500,000 in an Egyptian bank for three years in local currency (non-interest-bearing).
Jordan Citizenship
Citizenship by investment in Jordan requires an investment of between USD 750,000 and 1.5 million in the national economy. Despite the high threshold, the Jordanian passport offers limited travel benefits — visa-free access to only 51 countries.
Sierra Leone Citizenship
This is a relatively new program, launched in January 2025. The passport provides visa-free access to 66 countries, primarily in Africa and Asia. Given the current global sanctions environment, Sierra Leonean citizenship is expected to attract demand from nationals of restricted countries — such as Russia and Iran — who are no longer eligible for Caribbean programs, as well as from individuals seeking confidentiality in international banking. Additional advantages include the possibility to officially change one’s name, obtain a tax residency certificate, and other practical benefits. The citizenship costs USD 140,000, and processing takes approximately three to four months.
Vanuatu Citizenship
Vanuatu citizenship can be obtained through a non-refundable contribution of at least USD 130,000. Although Vanuatu citizens no longer enjoy visa-free access to the Schengen Area or the United Kingdom, the passport still allows visa-free or visa-on-arrival travel to 91 countries, including Russia.
El Salvador Citizenship by Cryptocurrency Contribution
Launched in late 2023, El Salvador’s Freedom Passport is the world’s only direct cryptocurrency-based citizenship program. A non-refundable contribution of USD 1,000,000, payable in Bitcoin or USDT, qualifies an applicant and their immediate family (spouse and children under 18). The entire family is included within the same contribution amount. The Salvadoran passport offers visa-free access to 135 countries and territories, including the Schengen Area and Russia.
Terminated Citizenship-by-Investment Programs
Several programs that were once official have since been discontinued for political or regulatory reasons. These include Belize, Bulgaria, Cyprus, Comoros, Malta, Moldova, and Montenegro.
Professional Services
Elma Capital assists clients in acquiring citizenship by investment in most of the countries listed above. If you have any questions or require professional guidance regarding second citizenship, please contact us today.