How to “buy” a second passport

Whether you’re a full-time traveler looking to avoid visitor visa length restrictions or a retiree looking to settle in another country, getting a second citizenship can be difficult. Each country has different rules about how you can acquire citizenship, and some countries actually allow you to “buy” a second citizenship through real estate investment or other programs. We spoke to Mehdi Malla, the company’s director of private clients Henley & Partnersworld leader in residency and citizenship by investment to get expert insight into how these programs work and what Americans should know about the process.

What you need to know about citizenship by investment

“Citizenship by Investment (CBI) is a program where people can obtain a second citizenship or passport by making a significant financial investment in another country,” Malla explains. This is an attractive option for high net worth individuals and the country itself, as these individuals can contribute to economic growth.

The sector in which the applicant will invest depends on the program, but may include business, government bonds or real estate.

Advantages of obtaining a second foreign passport

The benefits of getting a second passport are endless. Malla says, “This option is popular with high net worth individuals (HNWI) and ultra high net worth individuals (UHNWI) who want enhanced global mobility, better access to healthcare and education, and greater security for themselves and their families.”

It also allows people to diversify their assets, which is a big advantage for these individuals. It can also be useful for tax purposes. Depending on the country you came from, a second passport can lift travel restrictions, provide safe havens amid political instability, or give children access to better educational opportunities.

Countries that offer citizenship by investment — and how much it costs

There are several countries that offer residency and citizenship through investment, but the minimum investment varies significantly. “Some of the most popular (countries) are St. Kitts and Nevis, Antigua and Barbuda, Malta and Portugal,” Malla says. “Investment amounts typically range from $100,000 to over $1 million.”

Countries with citizenship under investment programs

• Antigua and Barbuda: $230,000
• Austria: “Significant contribution”
• Cambodia: $245,000
• Dominica: $200,000
• Egypt: $250,000
• Grenada: $235,000
• Jordan: $750,000
• Malta: €600,000
• North Macedonia: EUR 200,000
• St. Kitts and Nevis: $250,000
• Saint Lucia: $240,000
• Turkey: $400,000
• Vanuatu: $130,000

This set of options will put you all over the map and give you a foothold in the Caribbean, Europe or Asia.

Other countries, such as Portugal, offer accommodation for investment. In the case of Portugal, you can invest a minimum of €250,000 to obtain a five-year residence permit; after that you are eligible to apply for citizenship.

If you need a second passport, this process can take much longer. However, the visa achieves many of the same goals — the ability to live in the destination, access to high-quality healthcare, and more. Note that not all residence-by-investment programs offer a pathway to citizenship.

Countries of residence under investment programs

• Costa Rica: $150,000
• Cyprus: €300,000
• Greece: 250,000 euros
• Hong Kong: ~$3,860,000
• Hungary: EUR 250,000
• Italy: 250,000 euros
• Jersey: ~$2,270,000 and $325,000 in annual taxes
• Latvia: EUR 60,000
• Luxembourg: €500,000
• Malaysia: $212,000
• Malta: €175,000
• Mauritius: $375,000
• Montenegro: Purchase of real estate and registration of a legal entity
• New Zealand: ~$3,000,000
• Panama: $100,000
• Portugal: €250,000
• Singapore: ~$7,570,000
• Spain: €500,000
• Switzerland: ~$289,000
• Thailand: $1,500 to $25,000
• United Arab Emirates: $550,000
• Great Britain: innovative, scalable business

Obviously, residency by investment includes many other options, but still requires a significant investment.

The procedure for obtaining a second passport

While each country will have specific requirements, you can generally expect the same basic process. This usually involves choosing the country and program you wish to pursue, making the necessary investments and submitting an application. “This includes providing documents such as proof of income, clean criminal records and health certificates,” Malla says. “Once an application is submitted, the government conducts due diligence before granting citizenship and issuing a passport.”

Before you begin, you should contact an agency that has experience going through this process so they can help you with your case. The time it takes from the time you contact the agency to receive your passport will depend on the country and program you are applying for.

“Some Caribbean countries like St. Kitts and Nevis can complete the process in as little as three to six months,” Malla says. “European countries such as Malta or Portugal may take longer – 12 to 24 months – due to more rigorous checks and higher levels of investment.”

Risks and challenges

As you would expect, obtaining citizenship in another country will not be easy, so using a firm that specializes in helping US citizens go through this process will make it much easier to navigate.

“Some programs have strict due diligence and applicants may be turned away if there are any legal or financial issues,” Malla says. “Geopolitical changes may also affect the future strength of the passport in terms of travel flexibility.”

Fortunately, you don’t have to give up your US citizenship to participate in most of these programs. Since dual citizenship is allowed in the US, you can hold two passports at the same time without any problems.

One of the biggest challenges is getting so much money that it is almost impossible for the average person. You’ll also need to understand your responsibilities as a citizen of the new country — there may be “challenging legal, tax or even military service requirements,” explains Henley & Partners.

In general, citizenship or residency by investment can be a viable option if you can afford it, and with some programs you could have your new passport in 2025. Whichever option you choose, make sure you fully understand what you’re getting into. before starting