In a world marked by global uncertainty, more people than ever are investing in a second passport. From entrepreneurs seeking tax advantages to families chasing greater freedom and security, second citizenship is no longer a luxury—it’s a strategic move. But just how much does a second citizenship cost in 2025? And what value does that investment deliver?
Whether you’re eyeing a Caribbean passport, a European Golden Visa, or a fast-track path to American or Canadian residency, the answer depends on your goals—and your budget. We break down the current costs and benefits of the world’s leading Citizenship by Investment (CBI) and Residency by Investment (RBI) programs to help you evaluate your return on investment.
CBI vs RBI
What is CBI?
Citizenship by Investment programs offer direct citizenship—often in exchange for a government donation, real estate purchase, or business investment. Processing times are fast (often 3–6 months), with minimal or no residency requirements.
Key Benefit: Immediate access to a second passport.
What is RBI?
Residency by Investment programs grant long-term residency, with the option to apply for citizenship after several years. These typically involve real estate or business investments, and require more time and presence in the country.
Key Benefit: Long-term relocation option with a pathway to citizenship.
2025 Cost Breakdown: Popular Programs at a Glance
| Country | Min. Investment (USD) | Type | Processing Time | Citizenship Eligibility | Notes |
|---|---|---|---|---|---|
| St. Lucia | $240,000 (donation) | CBI | 4–6 months | Immediate | Visa-free to 140+ countries |
| Dominica | $200,000 (donation) | CBI | 4–6 months | Immediate | Low tax, UK visa-free revoked |
| Grenada | $235,000 (donation) | CBI | 4–6 months | Immediate | Unique access to US E-2 Visa |
| Turkey | $400,000 (real estate) | CBI | 3–4 months | Immediate | Gateway to US E-2 Visa, rental income |
| Malta | $850,000–$1M+ | CBI | 12–36 months | Fast-track EU passport | Full EU rights, high due diligence |
| Portugal | $540,000 (funds) | RBI → Citz. | 6–8 months (res.) | 5 years | Schengen access, EU citizenship path |
| Greece | $432,000–$864,000 | RBI → Citz. | 2–4 months (res.) | 7 years (with residency) | Strong EU base, recent price hikes |
| USA (EB-5) | $800,000 (business) | RBI → Citz. | 2–3 years | 5+ years | Green card & access to top education |
| Canada (Quebec) | $750,000 + $150,000 | RBI → Citz. | 12–18 months | ~5–6 years | Passive option, now with language rules |
What’s New in 2025?
The investment migration space has seen significant shifts in recent years:
- Caribbean price hikes: Programs in Dominica, St. Lucia, Antigua & Barbuda, and Grenada increased their minimum donations in 2024—most now start at $200,000–$250,000, up from $100,000 just two years ago.
- Portugal shuts property route: The once-popular $320,000 real estate option is gone. Investors now use a $570,000 venture fund route.
- Greece hikes real estate minimums: Athens and Santorini now require investments upwards of $910,000—a huge jump from $285,000.
- Malta remains premium: For those who can afford it, Malta offers full EU citizenship within 12–36 months for a contribution of $683,000–$853,000, plus real estate and fees.
- New low-cost entrant: Nauru launched a CBI program in late 2023 at $105,000, positioning itself as the most affordable option—with visa-free access to the UK.
How Do These Programs Compare on Value?
Donation-Based CBI: Fast, But No ROI
Donation-based programs like St. Lucia or Dominica offer speed and simplicity, but the money is gone. These are ideal for those who need a passport urgently for visa-free travel, asset protection, or personal security.
Pro tip: Grenada remains a top pick—it’s the only Caribbean country with a US E-2 visa treaty, giving access to the American market without applying for an EB-5 green card.
Real Estate-Based CBI: Potential for Capital Recovery
Turkey’s real estate route (min. $400,000) offers direct citizenship and the chance to rent or resell your property after three years. In strong markets, this can mean partial or full recovery of your initial outlay.
Turkish citizenship doesn’t offer EU travel freedom, but it’s attractive for those seeking Middle East access or a secondary base with business benefits.
European Golden Visas: Longer Path, Bigger Rewards
Residency programs like Portugal and Greece demand patience, but often result in full EU citizenship with smart investment planning. Portugal’s fund investment route is particularly popular, offering the chance to earn returns while you wait.
Many families see this as a 5-year plan: gain EU residency, enjoy freedom of movement, and unlock a world-class passport in the long run.
Considerations Beyond Cost
1. Mobility: A Maltese or Portuguese passport grants visa-free access to 180+ countries, while Caribbean options offer access to around 140–150.
2. Taxes: Many CBI countries (like the Caribbean) have no tax on global income, while others (like the US) impose tax obligations on all citizens, regardless of residence.
3. Family Inclusion: Most programs let you include spouses and children. Malta, for example, also allows dependent parents and adult children up to 26.
4. Lifestyle & Relocation: If you plan to live abroad full-time, EU programs and the US EB-5 offer a more integrated path with access to healthcare, education, and business opportunities.
What’s the Best Value?
There’s no one-size-fits-all answer. For mobility alone, a donation-based Caribbean passport remains quick and relatively affordable. For long-term wealth and lifestyle goals, investing in Portugal, Malta, or even Turkey may provide greater value over time.
If your goal is…
- Fast mobility and backup citizenship: Choose a CBI like St. Lucia, Dominica, or Grenada.
- Full EU rights and family relocation: Malta or Portugal offer elite benefits.
- Real estate-based passport with resale value: Consider Turkey or Greece.
- Access to the US market: Explore Grenada (E-2 visa) or the EB-5 green card.
Ready to Explore Your Second Citizenship?
At Next Generation Equity, we specialize in helping clients like you navigate the world of citizenship and residency by investment. Whether you’re looking to secure your family’s future, unlock new business opportunities, or simply enjoy greater global freedom, we’ll guide you every step of the way.
Talk to our team today at nextgenerationequity.com and let us help you invest in your future.
