Five Countries Where Money Can Buy You a Secondary Passport

Citizenship by investment is a process where individuals gain citizenship in exchange for one-time payments or real estate investment. The first program was introduced by St. Kitts and Nevis back in 1984, followed by a number of the Caribbean and European countries. The program's popularity grew in the following years, and by the end of 2014, it had attracted a lot of people. These programs have proven very beneficial, and the Dominica and St Lucia passport are especially attractive. The inflow of capital into the economy boosts several sectors, and holders enjoy several perks from having a second passport.

St Kitts and Nevis

Citizenship by investment in St. Kitts and Nevis is the oldest CIB program currently running. The rules are very friendly and there are no residency requirements for potential applicants to meet. The program boasts a quick 60-day application period for those who prize speed, and the passport is valid for a couple of years. Holders of a St. Kitts and Nevis passport can travel to 151 countries without a Visa.

Dominica

The Dominica Citizenship by investment program was introduced in 1993, and it is one of the more popular secondary passport locations in the Caribbean. The whole process takes very little time. Ideally, it should not take more than six months for your application to be processed. There are no residency requirements for the applicants, and the passport is valid for ten years. Holders can travel to 137 countries worldwide visa-free.

Saint Lucia

After the country's residency laws were amended, the one-time payment required was reduced significantly to attract more people. The laws are foreigner-friendly as applicants are not required to have lived in the country before or after applying for the passport. The best part of this is that the application takes a few months to be finalized. But you should note that the passport will be valid for a couple of years. Holders can travel to 145 countries without necessarily acquiring a Visa.

Grenada

After paying the one-time fee or making a significant investment in Grenada, you can get a Grenadian passport. There is no residency or visiting requirements for applicants. Just like in St Lucia, the application process takes less time, and the passport is valid for a couple of years. Holders can travel to 143 countries Visa-free, including China. If you want to travel to the United States, there is a cheaper alternative in the E-2 treaty visa.

Vanuatu

Vanuatu also offers a rather attractive package to those seeking a second passport in their portfolio. Applicants have to make a one-off application payment. The pay differs with the number of people who want the passport. The passport is valid for a couple of years. However, validity can be extended. There are no restrictions on residency, though applicants have to pick the passports personally once they are issued. Get the Vanuatu passport and travel Visa-free to over 150 countries, including Russia.