What is the Cheapest Passport to Buy?
With globalization on the rise, more people than ever before find themselves living, working and traveling outside their country of birth. According to United Nations estimates, approximately 244 million people currently reside abroad – that represents 3.5 percent of world’s population. Many move for economic opportunities abroad or due to family relations in another nation residing abroad while some move simply out of political conviction; no matter their motivations though having multiple passports provides many advantages – diversifying investments across jurisdictions while decreasing dependence.
Passports can often be expensive to acquire; however, there are exceptions. Dominica, Grenada, St Kitts and Nevis and Antigua and Barbuda offer some of the cheapest second citizenship programs starting at around $109’600 in the Caribbean and Montenegro currently offers one at an attractive cost point of $100k; its Citizenship by Investment Program will close by 2022 however.
Russia offers investors who are ready to go the extra step a citizenship program that allows them to pay enough in taxes over a number of years to become citizens, with rights to work and live within Russia. This option can be invaluable for entrepreneurs like Jim Rogers looking for investment opportunities within Russian companies and secure foothold in the region. In addition, Comoros also provides its citizens with an inexpensive passport option.