Passports to invest in without migrating

Many people dream of owning a second passport that lets them travel anywhere in the world without a visa. But obtaining a new citizenship can be a long and tedious process.

And those who look to settle in countries like the United States, Canada, Australia and the United Kingdom are bogged down by a plethora of paperwork, and they’re often required to live in the country and wait for several years before they can get their hands on a new passport.

However, if you have a lot of money, you don’t need to go through such great lengths. There are a few countries in the world that are more than willing to issue a citizenship and the applicant doesn’t even need to abandon the current home address. And what’s more, these countries process the citizenship within two to six months.

A caveat, though, is that applicants are required to either invest in the host country or contribute a certain amount of money to the local economy in exchange for the second nationality.

“Countries which grant you a second citizenship without immigration, therefore without moving to another country to obtain the citizenship, require some form of investment or contribution to the country’s economy,” said Veronica Cotdemiey, CEO of Citizenship Invest.

“The requirements could be investing in real estate or a government-approved project, in government bonds, opening up a company with a minimum number of employees or making a financial contribution to the country’s economy in the form of donation.”

Here’s a quick look at which countries offer a second passport without the need for applicants to immigrate.

Cyprus

One of the most highly recommended destinations, Cyprus can issue a European passport in only six months without requiring applicants to relocate. A Cypriot passport allows citizens to visit more than 100 countries visa-free and offers them a chance to live and work anywhere in the European Union.

Cost: Investment of 2 million euros in luxury real estate, which can be sold after three years.

Number of countries with visa-free access: 145

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