A few thousand people spend more than two billion dollars every year to gain the second citizenship. St. Kitts and Nevis is one of the countries with the longest history of giving away their citizenship through the investments. This particular law is active there since 1984.
Currently, a lot of countries are offering the same thing for a specific amount of money which is previously determined by a government. Purchasing a citizenship is in a huge expansion and here are the best five countries to consider:
1. Saint Kitts and Nevis
It is a small Caribbean nation that offers two options for those who are interested. The first one is a direct investment of at least $290.000 in the fund for diversification of the sugar industry. Another option is investing not less than $400.000 in development projects approved by the Government.
The original program is named ‘cash for citizenship,’ and it was launched in 1984. The program is open for all countries except for Iran. Their passport allows traveling to 125 countries.
2. Dominica
Here is another small island state which should not be confused with the Dominican Republic. It is much cheaper than Saint Kitts and Nevis. A single deposit of $90.000 in The National Bank is enough to ensure the citizenship. However, if there is a family of four, then the deposit is doubled.
You are allowed to travel to 85 countries with their passport. The potential candidate must have remarkable personality traits as well as some basic English proficiency.
3. Antigua and Barbuda
It is one of the most beautiful Caribbean countries. Their government has recently allowed the program of gaining the citizenship by investment. It has the same regulations like in Saint Kitts and Nevis.
One of the best advantages for the potential candidate is the ability to travel to any of 120 countries on the list, including the most popular ones, such as United Kingdom, Canada, France, and much more.
4. Hong Kong
When it comes to the Asian continent, the best-rated one is Hong Kong. Gaining the status of resident here is much easier than getting the citizenship. However, to become a legal resident, you will have to invest about one million dollars either in the stock market, railways, or insurance companies.
Having a residence in Hong Kong brings many advantages such as low income tax, the excellent and cheap system of medical care, and a lot more. One of the best proofs of the attractiveness of this country is the fact that about 100.000 foreign people have already obtained the status of the permanent resident.
5. Australia
The last one on this list is Australia which launched the program for gaining the citizenship through investment in 2012. According to their law regulations, a potential candidate will have to invest around three million dollars. Once this condition is met, their government will issue the investment visa to the investor. Four years after, it is possible to apply for the permanent resident.
Until now, they have massive inquiries and more than one billion dollars of potential investments. Australian passport has a pretty much excellent reputation. The country is expensive for a living, but there is a high-quality life standard. One of the weakest aspects of living in Australia is a high-income tax, which is around 45%.
Gaining the second citizenship has many benefits and advantages for both investors and any average person who can afford switching to another country. The truth is that there are a lot of expensive citizenships as well as those that are hard to obtain due to other circumstances. However, according to the list, you do not necessarily need to be extremely wealthy to get your second citizenship.