2023 was a massive year for citizenship by investment. Investors from all around the world have come to realize the considerable benefits of gaining a second citizenship and passport, and as a result, citizenship by investment programs have emerged as one of the world’s most prominent investment ventures. As the world gears up for another new year, citizenship by investment programs are streamlining their operations to cope with the growing demand. Here, we will highlight the top five citizenship by investment programs (in no particular order) for 2024 that you should consider when looking for a second citizenship.
Antigua & Barbuda
The Caribbean nation of Antigua & Barbuda is home to one of the world’s most popular citizenship by investment programs, and it is set to maintain its position among the best in 2024. Annual applications for Antigua & Barbuda’s program have continued to increase in number, and interest in the program has spiked in the past few years. Between 2020 and 2022, Antigua & Barbuda registered a growth rate in annual applications of 31%, and we expect that number to grow further in 2024. Antigua & Barbuda has a similar citizenship by investment program structure to the rest of its Caribbean counterparts; however, it boasts the University Of West Indies Fund (UWF), an investment category that is optimal for families that boast a large composition. The UWF requires a donation of just US$ 260,000, making it one of the affordable routes for large families to obtain citizenship. The donation amount per capita can be extremely economical, which is why you should expect Antigua & Barbuda’s citizenship by investment program to maintain colossal levels of demand throughout 2024. The affordable investment, coupled with Antigua & Barbuda’s powerful passport and the nation’s friendly tax regime, create the perfect solution for investors looking to elevate their global mobility through a simple and economical program.
St. Lucia
St Lucia is home to another highly popular Caribbean citizenship by investment program. The program really took off in the past few years, registering a massive 202% growth in annual applications between 2020 and 2022. St Lucia started out 2023 with a price reduction for its program, and though it hasn’t issued updated statistics yet, it is expected that 2023 was a record year for the popular citizenship by investment program. That popularity should seamlessly translate to 2024, as the program is highly affordable, beautifully simple, and greatly beneficial for investors seeking a robust second citizenship. St Lucia is also the only Caribbean country that has a government bond investment option within its citizenship by investment program. After the success of its COVID Relief Bonds option that came as a response to the economic crisis of the pandemic, St Lucia decided to cement a bond investment category by introducing the National Action Bond (NAB) in 2023 and setting the investment amount to an affordable US$ 300,000. St Lucia’s simple program and strong passport, coupled with four different investment options and the only bond category in the Caribbean, put it on the path to having a strong 2024.
Grenada
Grenada shattered all of its citizenship by investment program records in 2023. The Caribbean nation’s citizenship by investment program received 1,698 applications in 2023, more than four times of the number it received in 2020. Grenada boasts a simplified application procedure and exciting real estate investments, making it an excellent choice for investors looking to obtain a second citizenship. Grenada’s passport is a strong one, and like its other Caribbean counterparts, the country does not levy global income, wealth, capital gains, or inheritance tax. This makes Grenada an excellent destination for investors who want to obtain second citizenship in a tax-friendly nation with a robust financial sector that allows them to set up a solid and profitable wealth management framework to bolster their individual and financial sovereignty. Judging by the massive Compound Average Growth Rate (CAGR) of 54% during its last decade of operations, the Grenada citizenship by investment program is set to grow further and maintain its place among the world’s most popular citizenship by investment programs in 2024.
Türkiye
To say that Turkey’s citizenship by investment program outperformed is an understatement. The program shattered records since its introduction in 2017 and subsequent price slash in 2018. Turkey’s citizenship by investment program has naturalized over 19,000 people in six years, a massive number for any program in the investment migration realm. The country’s highly developed infrastructure, massive touristic appeal, strong passport, and dynamic housing market all contributed to making the Turkish citizenship by investment program one of the world’s most popular programs. The Turkish government’s reversal to traditional economic measures to halt inflation has begun to stabilize a wildly growing housing market and lower property prices through increasing interest rates, which makes 2024 the perfect time for global investors to obtain a second citizenship while getting the best value for their money through astute property investments in Turkey. The high demand, coupled with the potential for impressive ROI, set Turkey’s citizenship by investment program high on the list of 2024’s top expected performers. Considering that it is only one of two programs still open to Russian applicants, Turkey’s citizenship by investment program already has partial dominion over one of the world’s largest outbound citizenship by investment markets; expect it to capitalize on that.
Vanuatu
The Pacific nation of Vanuatu didn’t have the best years in terms of application volume in 2022 and 2023 but expect that to drastically change in 2024. Vanuatu’s program remains one of the most affordable and fastest programs in the world, while the introduction of a new investment stream that requires a US$ 130,000 investment for a family of four into the Coconut Oil Future Fund (CNO) should attract various investors from around the globe. Vanuatu’s swift processing time of two months and its openness to receive Russian applicants mean that it should have an outstanding 2024 in terms of application numbers.
No best programs, just the best for You
Writing this list, we focused on which programs would perform the best in 2024 in terms of application volume because deciding on a “best program” in terms of benefits is a futile practice. Every investor has their own objectives, needs, limitations, budget, requirements, and situation, and for each investor, there is a program that will best address those issues. Every citizenship by investment program has its suite of benefits and requirements, and while those may interesect within different programs, the finer details can sway one program in your favor instead of the other. Other country-related issues, such as taxation, economic outlook, political framework, infrastructure, healthcare systems, and education opportunities, all play a part in shaping your extended experience, so it is essential to consider them when you are deciding on what citizenship by investment program you want to apply to. While there is no one top program, there is always the best program for you. At NTL Trust, we listen to you and analyze your case before presenting you with the program that best suits your needs. All you need to do to find out what that program is is to contact us today to book a comprehensive consultation with one of our citizenship by investment experts.
