Unlocking the benefits of a second passport in Europe

(Last Updated On: May 3, 2023)

If you are looking to obtain a second passport in Europe, there are a number of countries that offer citizenship by investment programs. These programs allow you to obtain citizenship in exchange for making a significant investment in the country’s economy, which can provide you with greater visa-free travel and residency options. Here are some of the top second passport options in Europe:

Malta

Malta’s citizenship by investment program offers one of the fastest routes to EU citizenship, with a minimum investment of €900,000. Applicants must also make a non-refundable contribution of €650,000 to the National Development and Social Fund. Successful applicants of the Malta golden visa program can expect to receive citizenship within a year, and can enjoy visa-free travel to over 180 countries, including the US and Canada.

Cyprus

Cyprus offers a citizenship by investment program that requires a minimum investment of €2 million in real estate, government bonds, or a local business. Applicants must also hold a permanent residency permit for six months prior to citizenship application. Successful applicants can expect to receive citizenship within six months, and can enjoy visa-free travel to over 170 countries, including the EU and the UK.

Greece

Greece offers a Golden Visa program that requires a minimum investment of €250,000 in real estate. After seven years of residency, investors can apply for citizenship, which requires passing a Greek language test and demonstrating ties to the country. Successful applicants can enjoy visa-free travel to over 183 countries, including the EU and the UK.

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Portugal

Portugal’s Golden Visa program offers a fast track to residency, with a minimum investment of €280,000 in real estate. After five years of residency, investors can apply for citizenship, which requires passing a Portuguese language test and demonstrating ties to the country.

Successful applicants can enjoy visa-free travel to over 185 countries, including the EU and the UK. Portugal is another country that offers a popular citizenship by investment program, known as the Golden Visa program.

The Golden Visa program has become increasingly popular in recent years, as Portugal is known for its stable political and economic climate, as well as its high standard of living and attractive lifestyle. Successful applicants can enjoy visa-free travel to over 185 countries, including the EU and the UK.

Another benefit of obtaining a second passport in Portugal is the ability to access the country’s healthcare system, which is widely regarded as one of the best in the world. Portugal also offers a favorable tax regime for foreign investors, which can provide significant savings for those looking to establish residency or do business in the country.

Spain

Spain’s Golden Visa program requires a minimum investment of €500,000 in real estate. After five years of residency, investors can apply for citizenship, which requires passing a Spanish language test and demonstrating ties to the country. Successful applicants can enjoy visa-free travel to over 188 countries, including the EU and the UK.

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Austria

Austria offers a citizenship by investment program that requires a minimum investment of €10 million in the country. Applicants must also make a significant contribution to the economy or culture of Austria. Successful applicants can enjoy visa-free travel to over 187 countries, including the EU and the UK.

Bulgaria

Bulgaria’s citizenship by investment program requires a minimum investment of €1 million in government bonds, local business, or real estate. Successful applicants can expect to receive citizenship within two years, and can enjoy visa-free travel to over 169 countries, including the EU and the UK.

Hungary

Hungary offers a residency bond program that requires a minimum investment of €300,000 in government bonds. After five years of residency, investors can apply for citizenship, which requires demonstrating ties to the country. Successful applicants can enjoy visa-free travel to over 183 countries, including the EU and the UK.

Ireland

Ireland offers an immigrant investor program that requires a minimum investment of €1 million in an approved investment fund. After five years of residency, investors can apply for citizenship, which requires demonstrating ties to the country. Successful applicants can enjoy visa-free travel to over 186 countries, including the EU and the UK.

When considering a second passport in Europe, there are many factors to take into account, such as the minimum investment required, the length of residency required, and the visa-free travel benefits offered by each country’s passport. It is also important to consider the political and economic stability of the country, as well as its reputation for upholding the rule of law and protecting investor rights.

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Turkey

The Turkish Golden Visa program is another popular option for investors looking to obtain residency in Turkey and in Europe. While Turkey is not currently part of the European Union, it is a candidate country with strong potentials to become a member in the future.

This makes investing in a Turkish Golden Visa particularly attractive, as it could lead to increased mobility within the EU in the years to come. Additionally, the Turkish Golden Visa program offers a host of benefits, including access to quality healthcare and education, a favorable tax regime, and the ability to live and work in Turkey. If you’re looking to invest in a second residency or citizenship, the Turkish Golden Visa program is definitely worth considering that will eventually become one of the few countries with access to Europe.

Final thoughts

Obtaining a second passport in Europe can provide many benefits, including greater visa-free travel and residency options, as well as access to top-notch healthcare systems and favorable tax regimes.

Each country’s citizenship by investment program has its own unique requirements and benefits, so it is important to carefully consider your options before making a decision. Working with a reputable citizenship by investment provider can help ensure that you are following all legal and regulatory requirements, and can help you navigate the complex process of obtaining a second passport in Europe.

Each of these programs has its own unique requirements and benefits, so it is important to carefully consider your options before making a decision. It is also important to work with a reputable citizenship by investment provider to ensure that you are following all legal and regulatory requirements.