Open Citizen

Video Briefing

Nomad Capitalist: The Three-Step Passport Plan to Replace Your Citizenship

Aug 30, 2021Video Briefing14:24Watch on YouTube

A growing number of citizens from the United States, Canada, Australia, New Zealand and other “Tier‑A” countries are looking for ways to preserve travel freedom and protect assets in case their home‑country environment becomes less favorable. One practical approach is to build a portfolio of second passports and residency permits that together restore or even expand visa‑free access while keeping the option to return home.

1. Caribbean citizenship by investment – the first pillar

Why it matters
Caribbean citizenship‑by‑investment (CBI) programs are among the most affordable and quickest routes to a second passport. They provide solid visa‑free coverage across the Caribbean, South America, Central America and parts of Southeast Asia, while still allowing entry to the United Kingdom and Ireland.

Key programs and coverage

Country (CBI) Approx. investment* Main travel benefits
Antigua & Barbuda US $100 k (donation) Full Schengen access, UK & Ireland visa‑free, good coverage in Caribbean & South America
Grenada US $150 k (donation) Adds visa‑free travel to China, Russia and many African states; strong for business travelers
St. Kitts & Nevis US $150 k (donation) Similar to Antigua; strong Caribbean network
Dominica US $100 k (donation) Cheapest option, decent EU coverage
St. Lucia US $100 k (donation) Comparable to Dominica, with a few extra visa‑free destinations

*Exact amounts vary by family size and whether the contribution is a donation or a real‑estate purchase.

Typical gaps

  • Limited visa‑free access to Japan, South Korea, and most of the EU (except for Schengen visa‑free travel).
  • No direct entry to the United States, Canada, Australia or New Zealand.

2. Turkish citizenship by investment – filling the gaps

Why it matters
Turkey’s CBI program is relatively inexpensive compared with many European options and adds visa‑free or e‑visa access to several regions that Caribbean passports miss.

Cost and requirements

  • Real‑estate purchase of US $250 k–$300 k (or a bank deposit of similar size).
  • Processing fees and due‑diligence costs apply.

Travel advantages

  • E‑visa for Mexico (no visa required for many Caribbean passports).
  • Visa‑free or e‑visa entry to several Central and South American countries (e.g., Paraguay, El Salvador).
  • Access to a broader set of Southeast Asian nations (Thailand, Brunei, Japan).
  • E‑visa or visa‑on‑arrival for many African and Middle‑Eastern states (Morocco, Albania, North Macedonia, Serbia).

Limitations

  • No visa‑free travel to the United States, Canada, Australia, New Zealand, the United Kingdom or Ireland.
  • Schengen visa still required (Turkey is not yet a full Schengen partner).

3. European residency → citizenship – the final layer

Goal
Obtain a European Union passport that restores full Schengen access and adds visa‑free entry to the United States, Canada, Australia, New Zealand and the UK (via the EU‑UK travel arrangements).

Main pathways

Program Approx. cost* Residency requirement Typical timeline to citizenship
Portugal Golden Visa €280 k–€500 k (real‑estate or capital transfer) Minimum 7 days stay per year (or 14 days in a 2‑year period) 5 years residency, then 6 months language test → citizenship
Malta Individual Investor Programme (IIP) €1 M+ (donation + property) Immediate residency 12–36 months to citizenship (fastest EU route)
Bulgaria Investor Visa €512 k (government bond) 5 years residency 5 years → permanent residency, then citizenship after additional 5 years
Other Golden Visa options (Greece, Spain, Cyprus) €250 k–€500 k Varying stay requirements 5–10 years to citizenship

*Costs include investment, processing fees and any required donations. Real‑estate purchases can be rented out to offset expenses.

Why Portugal is often recommended

  • Lower overall cost than Malta’s IIP.
  • Flexible residency (no continuous physical presence required).
  • After five years, applicants can apply for citizenship with a modest language exam.
  • Provides full EU passport, covering all remaining travel gaps.

Alternative: citizenship by descent
If you have ancestral ties to Italy, Poland, Hungary or other EU states, you may qualify for citizenship without investment. Timelines vary from a few months to several years, depending on documentation and bureaucracy.

Putting the three steps together

  1. Obtain a Caribbean passport (≈ US $100 k–$150 k).
  2. Add Turkish citizenship (≈ US $250 k–$300 k in real estate).
  3. Secure European residency (≈ €300 k–€500 k in Portugal) and work toward citizenship (5 + years).

Resulting coverage

  • Full Schengen visa‑free travel (via EU passport).
  • Visa‑free entry to the UK, Ireland, UAE and many African/Middle‑Eastern states (via Caribbean and Turkish passports).
  • E‑visa or visa‑free access to Mexico, Central America, parts of Asia and South America (via Turkish passport).
  • Option to pass citizenship to children (EU passport allows automatic transmission in most cases; Caribbean passports also permit it, while Turkish citizenship may require an additional fee).

Remaining gaps
Only the United States, Canada, Australia and New Zealand remain unavailable visa‑free; however, the EU passport provides the strongest negotiating position for obtaining long‑term visas or residency in those countries if needed.

Practical considerations and risks

  • Total financial outlay: Roughly US $600 k–$800 k (including donations, real‑estate purchases, processing fees and ancillary costs).
  • Timeline: Caribbean and Turkish passports can be issued within 3–6 months; Portuguese residency takes 2–3 months to approve, with citizenship after 5 years.
  • Political risk: Investment‑based citizenship programs can be altered by governments; stay informed about policy changes.
  • Due‑diligence: Verify the legitimacy of agents and the legal structure of each investment (e.g., property titles, bank deposit safety).
  • Tax implications: Holding multiple citizenships does not automatically change tax residency; you must still manage tax obligations in your home country and any new jurisdictions.
  • Previous visa denials: Individuals who have been refused entry to the United States or other major markets may need additional legal planning before applying for visas, even with a new passport.

Decision checklist

  • Do you need immediate travel freedom? If yes, start with the Caribbean CBI.
  • Are you comfortable investing in real estate abroad? Required for both Turkish and Portuguese routes.
  • Is a full EU passport essential? If you need unrestricted Schengen access and the ability to live/work anywhere in the EU, the Portuguese Golden Visa (or Malta IIP) is the logical next step.
  • Do you have ancestral claims? Pursue citizenship by descent first, as it can dramatically reduce costs.
  • What is your budget? Adjust the mix of programs (e.g., choose a lower‑cost Caribbean option and a more affordable European residency) to stay within financial limits.

By layering these three passports—Caribbean, Turkish, and European—you can construct a robust “passport portfolio” that preserves travel freedom, offers residency options across multiple continents, and provides a safety net should you ever need to relocate permanently.

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