Rankings

Overall

In 2021, the Dominica and St Kitts and Nevis Citizenship by Investment (CBI) Programme received the same overall score, ranking first in the CBI Index.

Dominica

Single applicant minimum outlay: US$100,000
No travel or residence requirements
No interview requirement; no language or culture test
Fast processing
Spotlight: the Dominica Citizenship by Investment Unit is highly competent and adheres to strict due diligence procedures

St Kitts and Nevis

Single applicant minimum outlay: US$150,000
No travel or residence requirements
No interview requirement; no language or culture test
Fast processing, with an Accelerated Application Process
Spotlight: the world’s oldest citizenship by investment programme, commonly referred to as the ‘Platinum Standard’

III.

Grenada

Single applicant minimum outlay: US$150,000
No travel or residence requirements
No interview requirement; no language or culture test
Fast processing
Spotlight: citizens of Grenada can apply for an E-2 Visa to the United States and travel without a visa for up to 30 days to China

IV.

St Lucia

Single applicant minimum outlay: US$100,000
No travel or residence requirements
No interview requirement; no language or culture test
Fast processing
Spotlight: the country has inaugurated a limited-time, Covid-19 government bonds option due to expire on 31 December 2021

Antigua and Barbuda

Single applicant minimum outlay: US$130,000 (including a US$30,000 Government Fee)
Adult applicants must normally make one trip to take the oath of allegiance and show five days of residence within five years of citizenship, but this requirement has been temporarily suspended as a result of Covid-19 travel restrictions. Ordinarily, the travel and residence requirements can be fulfilled contemporaneously, and can be completed by minors after they turn 18
No interview requirement; no language or culture test
Fairly quick processing
Spotlight: is the only country allowing families to qualify by making a donation to a university fund

VI.

Vanuatu

Single applicant minimum outlay: US$130,000
Applicants must normally travel to take the oath of allegiance, although this requirement has been temporarily suspended as a result of Covid-19 travel restrictions
No interview requirement; no culture test; no language test enforced in practice
Fast processing
Spotlight: there is an increased focus on improving due diligence, with the country now mandating an international specialist firm to vet applicants under its Development Support Programme

VII.

Malta

Single applicant minimum outlay: €705,000 (including a €600,000 exceptional direct investment, €80,000 for five years of real estate rental, a €10,000 donation, and a €15,000 Due Diligence Fee)
Applicants must show at least 12 months of Maltese residence, and travel to apply for a residence card, give biometrics, and take the oath of allegiance
No interview requirement; no language or culture test
Processing can take no less than 13 months
Spotlight: Malta’s offering is capped at 1,500 main applicants in total and 400 per annum

VIII.

Montenegro

Single applicant minimum outlay: €365,000 (including a €250,000 investment, a €100,000 contribution, and a €15,000 Processing Fee)
One trip is required to receive the final decision on citizenship and supply biometrics
No interview requirement; no language or culture test
Fast processing
Spotlight: Montenegro’s CBI Programme will not be extended past its expiration date on 31 December 2021

IX.

Turkey

Single applicant minimum outlay: US$250,000
No residence requirement, but the applicant must travel to Turkey to obtain an investor residence card and provide biometrics
No interview requirement; no language or culture test
Fairly quick processing
Spotlight: to be valid, all investments must first be recognised by the relevant Government ministry

Egypt

Single applicant minimum outlay: US$250,000
No residence requirement, but the applicant must make one visit to Egypt to obtain a National ID Card before the grant of citizenship
No interview requirement; no language or culture test
Processing expected to be fairly quick
Spotlight: main applicants can include any official spouse and unmarried children under 21 in an application, but spouses can only receive citizenship two years after the main applicant

XI.

Bulgaria

Single applicant minimum outlay: €257,000
Minimum physical presence is not required, but multiple trips must be made to apply for and register permanent residence
No interview requirement; no language or culture test
Citizenship takes between 18 and 24 months under the fast-track option (application for citizenship after 12 months of residence)
Spotlight: eligible family members are unable to apply with the main applicant and can only receive citizenship after the main applicant has naturalised

XII.

Austria

Single applicant minimum outlay: actual or expected outstanding achievement of an economic nature
Applicants must make one trip to Austria to take the oath of allegiance
• Interview requirement; no language or culture test; must show a proven track record of achievement
Processing takes around two years
Spotlight: lack of clarity as to requirements and likelihood of success has generated reluctance towards applying for Austrian economic citizenship

XIII.

Jordan

Single applicant minimum outlay: US$750,000
No travel or residence requirements
No interview requirement; no language or culture test
Fast processing
Spotlight: naturalised Jordanians face bars to pursuing political or diplomatic positions

XIV.

Cambodia

Single applicant minimum outlay: KHR 1 billion
No residence requirement for applicants for the donation route; nominal residence requirement for the approved investment route. Travel is required to obtain certificates and take the citizenship oath
No interview requirement; Khmer language and history test
Fairly quick processing
Spotlight: it is unclear when or if applicable laws will be amended to increase the minimum outlay

Learn more about the CBI Index by downloading the report below

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