The super-rich are no longer just spending their money on private jets, yachts, and hotels — they're also splashing out on second passports. The Second Citizenship Survey 2017 from CS Global Partners found that 89% of people would like to own a second passport, and over 34% said they had looked into investing in a second citizenship.
Even more striking were the 80.68% who said they would be willing to invest or donate 5% of their annual salary for a second citizenship — more than they spend on monthly rent. Luckily, according to Associated Press, at least two dozen countries offer a new home to people willing to invest in a business, real estate or government bonds. Some of these countries offer Citizenship by Investment (CIP) programs where money can actually buy a second passport, usually starting at around $200,000 (£154,392).
Grenada — Citizenship from $200,000 (£154,226)
There are two ways to get citizenship through investment in Grenada:
-A $200,000 (£154,226) donation to the Grenada National Transformation Fund, or
-Real estate investment of at least $350,000 (£269,874).
Latvia — Residency from €64,600 (£56,652)
For residency in Latvia, here's what's required:
-A minimum of €286,000 (£250,964) over a period of five years in a credit institution, or
-To invest in equity capital, the foreign national must invest a minimum of €36,000 (£31,590) and must pay a minimum of €28,600 (£25,096) in the next year.
You can apply for citizenship after five years through process of naturalization (i.e. language test, history test). "The true catch here is when they want to get citizenship, they have to take a language test, and Latvian is an impossible language to learn as an adult," Katz said. "No one can, and they know it, and as such they know no one will ever become a citizen."
Saint Lucia — Citizenship from $100,000 (£77,113)
There are three ways to get citizenship in Saint Lucia, according to Katz.
-A donation of at least $100,000 (£77,113) to the Saint Lucia National Economic Fund (depending on number of dependents), or
-Investment of at least $300,000 (£231,517) in an approved real estate development, or
-Investment of $3.5 million (£2.7 million) in an approved enterprise project.
Dominica — Citizenship from $100,000 (£77,113)
Dominica is appealing due to its visa-free access to more than 110 countries, according to Arabian Business. Katz said there are two options:
-A donation to the National Transformation Fund of $100,000 (£77,113) for a single applicant, or $200,000 (£154,226) for a family of four, or
-A real estate investment of $200,000 (£154,226).
Antigua and Barbuda — Citizenship from $250,000 (£192,782)
There are three ways to get citizenship through investment in Antigua and Barbuda:
-Real estate investment of a least $400,000 (£308,452).
-A donation to the National Development Fund of $250,000 (£192,782).
-A $1.5 million (£1.2 million) investment in an existing but newly-created business venture.
Source: BBC WORLD