Home Immigration How to Get The Best Deal on a Second Citizenship? (What are the True Costs Involved?)

How to Get The Best Deal on a Second Citizenship? (What are the True Costs Involved?)

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How to Get The Best Deal on a Second Citizenship? (What are the True Costs Involved?)

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So you’re thinking about getting a second passport, but you want to make sure you get the best possible deal and invest your money wisely.
There are many Citizenship by Investment Programs to choose from, some are more expensive than others.
In some cases, you need to donate your money to the government and you will never get it back, while in some other cases, like in Turkey, for example, you buy real estate of a certain value and you get a passport.

Some people don’t like the idea of donating money, while others don’t have a problem with that.

However, there will always be a tradeoff in any case. What do I mean by this? You will either need to tradeoff your: Time, Money, or Opportunity cost.

In the case of a donation, you will have to give away a certain amount of money (way less in the Caribbean, and quite a bit more in Malta) but you will get citizenship fairly fast. This is how most Citizenship by Investment Programs work. You trade your money in order to get a second passport quickly.

On the other hand, you might decide to take the slower route, and apply for a Golden Visa in Portugal and wait for 5 years to get your citizenship. You didn’t lose any money, as all of your capital was tied to the real estate that you own.
If you’re willing to live somewhere for an extended period of time you will be able to get the passport, but you have to tradeoff years of your time.

And of course, there are the programs that are in between such as Turkey. Like I’ve already mentioned in Turkey it’s enough to just invest $250 000 in property and you will be granted a Turkish passport. It’s fast, cheap, and convenient option for many.

Bulgarian Citizenship by Investment is also somewhere in between. You will tie your capital for a certain period of time, but in the end, you will get an EU passport, and your money back.

All that being said, it is up to you to choose which option is going to work best for your life. Some people choose multiple because they want speed and at the same time they want a good quality passport in the long run.

Which passport is the best deal, will totally depend on your circumstances in life and what are you trying to achieve.

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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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