Where to obtain a second passport in 2024: investment programs experts listed the best options for Israelis
Immigrant Invest experts named a top-5 of the best second citizenship programs. They estimated the required sums of investment, obtaining period and individual benefits each country provides.
As a result, the list included:
- Malta,
- Grenada,
- St Kitts and Nevis,
- Dominica,
- Antigua and Barbuda.
Below, you will find detailed information on the chosen countries and citizenship by investment programs they offer.
#5. Antigua and Barbuda citizenship for $100,000+
Antigua and Barbuda is a country in the heart of the Caribbean. It consists of two main islands, Antigua and Barbuda, and several smaller ones. The country offers Israeli citizens a tropical climate, English as the official language, and a stable economic environment bolstered by tourism.
The Antigua and Barbuda citizenship program was launched in 2013. Three primary investment options include:
- a non-refundable contribution to a state fund — $100,000+;
- real estate purchase — $200,000+;
- business investments — $400,000+.
Antigua and Barbuda is the only country listed offering a specific investment option for big families of 6 or more. Under the option, the investor contributes $150,000+ to the University of the West Indies Fund, and one of the children gets a right to study at this university for a year free of charge.
Obtaining an Antigua and Barbuda passport is entirely remote and lasts 3—6 months.
Antigua and Barbuda citizens can visit over 150 countries without visas, including Schengen and the UK.
Antigua is famously known for having "a beach for every day of the year," boasting 365 beaches that offer a mix of white sand, turquoise waters, and scenic views.
#4. Dominica citizenship for $100,000+
Dominica, positioned in the Lesser Antilles of the Caribbean, offers Israelis a tropical environment and a growing economy centred on tourism and agriculture. Its location, serving as a bridge between the Caribbean's northern and southern islands, provides strategic access to regional markets.
Dominica's citizenship by investment program has been functioning since 1993. It has one of the fastest application procedures: it can last as little as 3 months.
The country has two investment options:
- a non-refundable contribution to a state fund — $100,000+;
- a real estate purchase — $200,000+.
The money invested in real estate can be returned 3 years after obtaining a passport. Other programs in the list require investors to keep a property for at least 5 years.
Dominica citizens can visit over 140 countries without visas, including Schengen and China.
#3. St Kitts and Nevis citizenship for $250,000+
St Kitts and Nevis, situated in the West Indies, attract Israeli investors with their stable economy and serene landscapes. These twin islands lie at the crossroads of the Caribbean and Atlantic and offer unique trade and business opportunities. It is also the only country on the list that doesn’t impose taxes on income gained inside the country.
St Kitts and Nevis citizenship by investment program is the oldest and the most reputable in the world. It was launched in 1984. Investors participating in it can:
- make a non-refundable contribution to a state fund — $250,000+;
- purchase real estate — $400,000+.
The process of obtaining a St Kitts and Nevis passport takes 6+ months.
St Kitts and Nevis citizens can visit over 150 countries without visas, including Schengen and the UK.
#2. Grenada citizenship for $150,000+
Positioned at the southern end of the Grenadines, Grenada provides a gateway to both the Caribbean and South America. It also offers Israelis a tropical setting, growing economic prospects, and an English-speaking populace. Coupled with a renowned spice industry and serene beaches, it becomes an enticing blend of business and leisure opportunities.
A Grenada passport is a good investment for those who plan to work in the US, as Grenada citizens can obtain an E-2 business visa. Other Caribbean countries on the list don't offer such a benefit. Another rare benefit of Grenada citizenship is visa-free access to China.
Under the Grenada citizenship by investment program, you can choose one of the two options:
- a non-refundable contribution to a state fund — $150,000+;
- real estate purchase — $220,000+.
The process of obtaining a Grenada passport takes 3—6 months.
Grenada citizens can visit over 140 countries without visas, including Schengen, the UK and China.
St George is the capital of Grenada. With its horseshoe-shaped harbor, red rooftops, and Georgian architecture, it is often regarded as one of the Caribbean's most charming towns
#1. Malta citizenship for €690,000+
Malta, an island nation in the central Mediterranean, lures Israeli citizens with its strategic European location, robust economy, and English-speaking populace. It serves as a pivotal link between Europe and Africa.
Malta's historical ties, combined with a familial Mediterranean climate and lifestyle, make it an appealing destination for Israelis seeking a blend of tradition and modernity.
In Malta, investors obtain citizenship by naturalisation for exceptional services by direct investment. Getting a Maltese passport requires 1 or 3 years of holding a residence permit.
Here are the key investment requirements:
- Contribution to the state. Applicants willing to reside in Malta for 36 months pay €600,000+, and those who choose a residency period of 12 months invest at least €750,000.
- Property purchase or lease. Applicants must either purchase property in Malta with a minimum value of €700,000 or lease a property for a minimum annual rent of €16,000. This commitment must be maintained for at least five years.
- Donation. There's a mandatory donation of €10,000 to a Maltese philanthropic organisation.
“To acquire Malta citizenship, investors cannot choose one of the investment options. They must fulfil all the requirements completely”, points out Elena Ruda, founder of Immigrant Invest, lawyer.
Among the most essential benefits of Maltese citizenship are:
- visa-free access to over 180 countries, including the USA, the UK and Schengen;
- an opportunity to move to the EU anytime;
- a chance to get an education in any EU country.
Benefits of Second Citizenship for Israelis
Israel's dynamic economy and unique geopolitical and cultural position make it a significant global player. However, there are numerous advantages to Israelis obtaining a second citizenship.
- Business opportunities. Opening up to a broader range of markets can provide diverse business and investment opportunities. For Israeli entrepreneurs or investors, this can mean accessing industries, markets, or resources unavailable or limited in Israel.
- Security and stability. In uncertain geopolitical times or due to regional tensions, having second citizenship can offer a haven and peace of mind. It can serve as a backup plan, providing a sense of security for oneself and one's family.
- Tax optimization. For example, The Caribbean countries offer more favourable tax regimes or financial incentives for foreign investors. Israelis with second citizenship can leverage these for tax planning, wealth preservation, and asset diversification.
- Educational opportunities. Access to global educational institutions can be easier with a second passport. Israelis can take advantage of educational systems in other countries. For example, Israelis with Maltese passports can study in any EU country on preferential terms.
- Real estate and rental Income. Israelis can tap into the real estate markets of the second country, which might offer lucrative rental or resale opportunities, especially in countries with thriving tourism industries.
- Retirement options. A second citizenship opens up alternative retirement destinations. Some might prefer the climate, lifestyle, or cost of living in another country, making it an attractive place to spend one's golden years.
- Cultural enrichment. Living or spending time in another country brings the richness of experiencing a new culture, traditions, and lifestyles. It can be a fulfilling experience and lead to personal growth.
Immigrant Invest is a licensed agent of European and Caribbean citizenship by investment programs. We have been helping people from all over the world obtain residency and citizenship statuses by investment. We know how to reduce refusal risk to the minimum and make the whole process fast and easy.