Citizenship by investment programs can provide a second passport in under a year through a donation or investment, often without the applicant needing to relocate. For 2025, the cheapest donation-based options start in West Africa and the South Pacific, followed by several Caribbean programs.
This comparison focuses on the lowest cash-outlay citizenship by investment routes. It does not include programs such as Turkey, Egypt, or Jordan, where applicants usually make real estate investments that may later be sold. The focus is on donation-style programs where the money is paid to the country in exchange for citizenship.
Sierra Leone
Sierra Leone is described as the cheapest citizenship by investment option discussed.
The program is in West Africa and is described as niche. It may not be the strongest “Plan B” or “Plan C” passport for most people, but it is the lowest-cost option listed.
The pricing is:
- $100,000 for applicants with ancestral connections to West Africa;
- $140,000 all-in for other applicants.
The $140,000 figure is described as including the donation, due diligence, passport, and other government-side costs. The applicant would still need to pay whoever assists with the application on top of that.
The structure is presented as unusually transparent because many citizenship programs advertise only the headline donation amount, while additional due diligence, passport, bank, application, and professional fees are added later.
The potential value of Sierra Leone citizenship is that it gives the holder an African passport from a country outside the Western system. For some people, having residence or citizenship in Africa may provide useful diversification. However, the transcript suggests that this passport is probably not the best fit for most applicants.
Nauru
Nauru, a South Pacific island nation, is listed as the second-cheapest option.
For a single applicant, the total cost is stated as $141,700.
The breakdown is:
- $105,000 contribution to a climate resilience program;
- $25,000 application fee;
- $10,000 due diligence fee;
- $1,200 bank due diligence and transaction charge;
- $500 passport fee.
The transcript says Nauru is expected to conduct strong due diligence and KYC checks, but may process applications faster than some Caribbean programs. The timeline may be well under a year from start to finish.
Nauru is described as a better passport for travel than Sierra Leone, despite costing only $1,700 more for a single applicant.
The program may also be attractive for families. A principal applicant with up to three dependents can reportedly use a $110,000 donation instead of the $105,000 single-applicant contribution, with higher application, due diligence, bank, and passport fees added. The difference between a single applicant and a family of four may therefore be relatively modest.
Nauru is also described as neutral and different, which may matter for people seeking a second passport that does not closely resemble their original nationality.
Dominica
Dominica is listed as the cheapest Caribbean citizenship by investment option in the comparison.
The donation route is stated as $210,000 when the donation and basic fees are combined. Additional professional and application-related costs may still apply, and applicants must use an authorized agent rather than filing directly.
Dominica also offers a real estate route. The investment amount mentioned is $200,000 in approved real estate, with a holding period of three to five years.
However, the real estate route also carries additional government fees, described as around $50,000 to $75,000 depending on the application size, plus basic fees. This means the real estate route is not simply a recoverable $200,000 investment.
The transcript raises several concerns about minimum-priced CBI real estate:
- approved real estate may not always be available at the minimum price;
- many projects function more like timeshare-style resort investments;
- developers or intermediaries may receive large commissions;
- high commissions can affect resale value;
- future changes to minimum investment thresholds can affect the buyer pool;
- resale may be difficult if many similar units are available.
For some applicants making a larger real estate purchase, the real estate route may make sense. But for someone only trying to meet the bare minimum, the donation route may be simpler.
Dominica is also part of the Eastern Caribbean citizenship framework, which provides broader regional mobility.
Antigua and Barbuda
Antigua and Barbuda is listed at $248,500.
Its main advantage is family pricing. The program is described as attractive for families because up to a family of four can be included for broadly the same base price, with additional fees for each added person.
Extra family members may generally add under $10,000 per person in additional fees, according to the transcript.
For single applicants, the advantage is less significant. For a family, Antigua and Barbuda may be more competitive because the cost does not rise as sharply as in some other programs.
St. Lucia
St. Lucia is listed at $250,000 for a single applicant, including basic fees.
Like Antigua and Barbuda, St. Lucia is described as becoming more attractive for families, with a family of four possible for additional fees.
St. Lucia also has a bond option. The bond route is described as:
- $300,000 in bonds;
- no interest;
- $50,000 in fees;
- additional basic and professional fees.
The bond option may be preferable to some real estate routes because there may be less conflict of interest and no need to find a buyer for a resort property later. However, applicants still need to consider due diligence on the bonds and the opportunity cost of tying up capital without interest.
For someone with enough liquidity, the St. Lucia bond route may be more attractive than buying minimum-priced citizenship real estate.
Caribbean Regional Benefits
Dominica, Antigua and Barbuda, and St. Lucia are part of the Eastern Caribbean citizenship by investment landscape.
Holding one of these passports can provide the ability to live in the six Eastern Caribbean states and may provide additional privileges in the wider Caribbean Community region, including places such as Belize and Jamaica.
This can matter if one country changes taxes or becomes less attractive. A citizen of one Eastern Caribbean state may have more regional flexibility than someone relying only on their original citizenship.
For example, a person who currently has the right to live in one country may gain the practical ability to live in several additional Eastern Caribbean countries.
Cheapest Donation-Based CBI Options Listed
The programs are ranked as:
- Sierra Leone — $140,000 all-in for most applicants, or $100,000 with West African ancestral connections.
- Nauru — $141,700 for a single applicant.
- Dominica — $210,000 donation plus basic fees included in that figure, with other costs still possible.
- Antigua and Barbuda — $248,500, potentially strong for families of up to four.
- St. Lucia — $250,000, with a separate bond route involving $300,000 in bonds and $50,000 in fees.
Other Citizenship Routes
Citizenship by investment is not the only way to obtain another passport.
Other routes can include:
- citizenship by descent;
- naturalization after residence;
- starting or saving a business;
- major investment into a country;
- special fast-track naturalization programs;
- discretionary citizenship grants.
Austria is mentioned as an example where, in some cases, citizenship may be possible through major investment or business contribution, usually involving multi-million-level commitments and official support through a local or national process.
Other examples are described as much more expensive, including cases where a country may grant citizenship after extremely large investments, such as €100 million. The UAE is also mentioned as a country where some billionaires and prominent individuals have received citizenship.
Some countries may also offer citizenship through real estate or other legal investment routes, but these are not always guaranteed. Unlike standard CBI programs, special fast-track routes may depend more on discretion, local law, officials, and the specific facts of the case.
The transcript distinguishes legal fast-track routes from informal or corrupt arrangements. The focus is on routes that exist under written law or official legal mechanisms.
Main Caveats
The cheapest passport is not always the best passport.
Important factors include:
- travel access;
- neutrality;
- due diligence standards;
- family pricing;
- resale risk for real estate routes;
- processing time;
- total fees, not only headline donation amounts;
- professional fees;
- whether the passport fits the applicant’s wider tax, residence, and asset protection plan.
A program with a slightly higher cost may be better if it offers stronger mobility, better family inclusion, easier processing, or fewer long-term complications.
The main lesson is that citizenship by investment should not be judged only by headline donation price. The real comparison should include total cost, family structure, passport utility, legal certainty, exit risk on investments, and how the citizenship fits into the applicant’s broader international plan.
