8 countries to obtain citizenship by investment as a Nigerian
Obtaining a second citizenship is a great way to gain more freedom and business opportunities for Nigerians. People with a second passport can travel visa-free to more countries and have the option to choose the state to pay taxes in. It is important, however, to pick a country for second citizenship wisely, so that the status provides the most benefits.
Immigrant Invest lawyers help high-net
worth individuals obtain residency and citizenship in countries all over the world. The company is a licensed agent for government programs in the European Union and the Caribbean. The specialists researched all the available citizenship-by-investment options and picked those most beneficial for Nigerians.
Is dual citizenship allowed in Nigeria?
Unlike a lot of countries, Nigeria does allow multiple citizenships. This means that when a national obtains a passport of another country, they won’t have to give up their Nigerian one.
It is important to make sure that the country where you obtain your second citizenship allows multiple nationalities as well. Otherwise, you won’t be able to keep your passport of origin. For instance, the Netherlands, Norway, and some other EU states do not allow dual citizenship.
Benefits of second citizenship for Nigerians
A second passport provides its holder with a number of benefits. Depending on the country, its nationals can enjoy visa-free travel to most of the world’s countries, expanded business opportunities, financial security, or a beneficial taxation system.
Visa-free travels. The strength of a country’s passport is defined by the number of countries its holder is allowed to enter visa-free. For instance, a Nigerian passport will get you free entry to only 26 countries, while citizens of EU states can travel without visas to up to 190 countries.
Business opportunities. Dual citizenship allows individuals to explore and conduct business in countries where their original citizenship might pose legal or bureaucratic obstacles.
Some countries have investment or entrepreneur visa programs that can lead to citizenship. This option could be especially appealing to affluent Nigerians who are seeking to extend their business ventures by investing in other countries.
Financial stability. Acquiring second citizenship provides a sense of financial stability as it can grant access to more favourable personal and corporate tax systems and better financial infrastructure.
Participating in a citizenship by investment program, specifically in real estate, can be a lucrative opportunity for individuals. Investment properties can generate profit through various means such as owning shares in resorts and tourist accommodations, renting out residences, or selling the property for a profit when its value appreciates.
Political and social benefits. A person with multiple citizenships can choose to reside in a country with better education, healthcare, and social infrastructure. Besides, in many states citizenship is inherited, so when obtaining a second citizenship one secures a better future for their children as well.
So, what countries are the best to obtain a second citizenship as a Nigerian? Let’s explore.
Malta citizenship by naturalisation for exceptional services for Nigerians
The process of obtaining Malta nationality takes 1 or 3 years, depending on the path you choose. First, you will be granted a residence permit, after which you will be able to apply for citizenship.
Investors can become citizens of Malta in 1 or 3 years. This is possible if a person chooses to obtain citizenship by naturalisation for exceptional services by direct investment. The process implies first acquiring a residence permit, and then applying for citizenship.
A contribution to the National Development and Social Fund of Malta. By investing €600,000 to the fund, the applicant will be able to obtain citizenship in 3 years. To get the status in 1 year, one needs to invest €750,000.
A charitable donation of at least €10,000 to a non-governmental organisation approved by the Community Malta Agency.
Purchase or rent of residential real estate in Malta. In case of rent, an investor has to pay for the property at least €16,000 a year. In case of purchase, the price of property has to be at least €700,000. The investor is required to keep the rented or owned property for at least 5 years.
Aside from the investments, applicants also pay fees for the Eligibility Test, issuance of the residence card, and administrative work. In total, providing a family of four with Malta citizenship this way will require €933,000, including all the investments and fees.
Investors cannot apply for Malta citizenship for exceptional services by direct investment by themselves. They can do it only with the help of a licensed agent that will submit their application and be responsible for the process. One of such agents is Immigrant Invest. Its lawyers accompany each step of the process until they obtain their Maltese passports.
Family members that can be included in the application under the same investment:
spouse or a registered partner of any gender;
children up to 29 years old; children over 18 should be principally dependent on the main applicant;
parents and grandparents over 55 if they’re principally dependent on the investor.
Malta citizenship by naturalisation for exceptional services by direct investment implies a strict Eligibility Test. The main applicant and their family members will be subjected to a thorough four-level check of their history.
Like Nigeria, Malta allows multiple citizenship — this means that the investor will be able to keep their first passport. With a Maltese passport, the investor will have the right to enter and leave the state at any time, stay there for as long as they need, work and do business.
Other benefits of a Maltese passport include:
visa-free travel to 180+countries, including all states of the Schengen Area, the UK, the USA, and Canada;
opportunity to take advantage of a beneficial taxation system — investors don’t get special benefits, but the system itself is pretty favourable: the income tax and VAT are lower than in many EU countries, and there is no inheritance or wealth tax, as well as tax on global income;
access to social benefits, such as high-quality public healthcare and education of Malta and other states of the European Union.
Investing in Turkey citizenship as a Nigerian
The process of obtaining Turkey citizenship takes 6—8 months and can be done completely remotely.
The rules allow including close family members to the application — this applies to the investor’s spouse and children under 18. They can get citizenship as well. Moreover, financially dependent parents of the applicant and their adult children can obtain residence permits.
Investment conditions. To join the citizenship by investment program, the applicant can choose one of the investment options:
Purchase real estate of at least $400,000;
Start a new business in Turkey with an investment of at least $500,000;
Open a deposit with at least $500,000 in a Turkish bank account;
Acquire at least $500,000 in government bonds;
Invest at least $500,000 in real estate investment fund shares.
When adding family members to the application, the investor pays an additional $574 government fee for each member.
Pros of Turkey citizenship include an opportunity to reside and work in a country with a beneficial taxation system, good education, and universal healthcare. Besides, Turkey recognises multiple citizenship, so the investor won’t have to give up their Nigerian passport.
A Turkish passport allows travelling to 110+ states, as well as obtaining a C—2 Schengen visa and a long-term B—1/B—2 US visa.
Citizenship in Antigua and Barbuda by investment for Nigerians
Antigua and Barbuda citizenship-by investment program allows obtaining a second passport at a relatively low contribution in 3—6 months. Moreover, the investment amount does not increase when adding family members to the
Investment options for Antigua and Barbuda CBI program:
A non-refundable contribution to the National Development Fund — $100,000.
A donation to the UNiversity of West Indies Fund — $150,000.
Purchase of real estate — at least $200,000.
Business investment — at least $1.5 million.
Aside from the investment itself, participants also pay Due Diligence and state fees for each person in the application. For a family of four, total expenses will be $150,000 with the minimal investment option.
The list of relatives that can be added to the application includes the spouse of the applicant, dependent children under 30, dependent parents over 55, and unmarried siblings.
The main advantages of Antigua and Barbuda citizenship are the ability to travel visa-free to 150+ countries, including the Schengen countries and the UK, the opportunity to obtain a long-term visa to the USA, as well as the favourable taxation system.
Antigua and Barbuda citizens pay 0 taxes for wealth, inheritance or personal income tax. Aside from that, Antigua nationals can enter the CARICOM market with their business on preferential terms.
Investing in Dominica citizenship as a Nigerian
Another Caribbean country that offers a great CBI program is Dominica. In this state, Nigerians can obtain citizenship by investment in around 2—6 months.
There are three investment options applicants can choose from:
Non-refundable donation to the Dominica Economy Diversification Fund — $100.000.
Purchase of real estate — at least $200,000.
Business investment — at least $1.5 million.
With the lowest investment option, estimated expenses for a family of four, will be at least $194,700.
The list of family members that can be added to the application includes the investor’s spouse, dependent children under 30, and dependent parents over 65.
Advantages of Dominica citizenship include the ability to travel without visas to 145 countries, including the Schengen States, the UK, and China, and the eligibility for a 10-year visa to the USA.
Investors with Dominica citizenship have a great opportunity to optimise their individual and corporate taxes because the state does not charge taxes on dividends, interest, or royalties from abroad. The same applies to income from capital gains and inheritance.
Citizenship in St Lucia for Nigerian investors
St Lucia CBI program offers investors the fastest and the most affordable passport obtainment in the world. It is possible to become a national of St Lucia in up to 3 months.
Non-refundable donation to the National Economic Fund of St Lucia — $100,000.
Real estate purchase — at least $200,000.
Acquisition of government bonds — at least $300,000.
Business investment — at least $1,000,000.
Aside from the investment itself, applicants also pay a number of fees. For a family of four, one will have to pay at least $174,550 total.
Relatives that can be added to the application are the investor’s spouse, dependent children under 30, dependent parents over 55, and siblings under 18.
Perks of St Lucia passport include the ability to travel visa-free to 140+ states, such as the Schengen countries, Singapore, and Hong Kong. Besides, St Lucia nationals can obtain a long-term 10-year visa to the USA for tourism and business purposes.
The taxation system in St Lucia is a benefit as well. Citizens of the country don’t pay taxes on income, wealth, inheritance, or capital gains.
Citizenship of St Kitts and Nevis for Nigerian investors
St Kitts and Nevis citizenship by investment program is the oldest in the world. Foreign investors, including Nigerians, can obtain a passport of the country in 2—6 months and fully remotely.
Non-refundable donation to the Sustainable Growth Fund — $150,000.
Contribution to the Public Benefit Projects — $175,000.
Real estate purchase — $200,000.
Estimated costs for providing a family of four with St Kitts citizenship start at $185,750.
Relatives that can apply with the investor are their spouse, principally dependent children under 30, dependent parents over 55, and siblings under 30, if they are not married and don’t have children.
Advantages of St Kitts citizenship:
visa-free travel to 150+ countries, including the Schengen states and the UK;
an opportunity to apply for a 10-year visa to the USA;
favourable taxation system with no taxes on income, wealth, inheritance, dividends, wages, or royalties.
Benefits of St Kitts and Nevis citizenship include visa-free travel to over 150 countries, the Schengen Area, the UK, Singapore and Hong Kong. You will be able to apply for a B-1/B-2 US visa as well.
Obtaining Grenada citizenship as a Nigerian investor
Grenada has a citizenship-by-investment program that allows in up to 6 months with the minimum investment of $150,000.
Non-refundable donation to the National Transformation Fund— $150,000 for a single applicant, and $200,000 for an application with two or more people.
Real estate purchase — at least $200,000.
Providing a family of four with citizenship of Grenada will cost an investor at least $227,080, including all fees.
Family members that can apply with an investor:
dependent children under 30;
siblings under 30, if they don’t have children and are not married.
Advantages of Grenada citizenship include visa-free entry to 140+ states, including the Schengen countries, the UK, and China. Grenada nationals can also apply for the E—2 visa to the US. It permits residing and working in the country.
Grenada does not charge taxes for wealth, inheritance, or gifts.
Vanuatu passport by investment for Nigerian nationals
Vanuatu allows investors to obtain citizenship in just one month, the minimal investment is $130,000.
To join the program, an investor needs to donate at least $130,000 to the National Development Fund. Aside from that, they have to prove that they have at least $250,000 of available funds on their account.
Family members that can be added to the application are the investor’s spouse, dependent children under 25, and parents over 50.
Advantages of Vanuatu passport:
visa-free access to 96 countries such as the UK, Hong Kong, and Singapore;
an opportunity to obtain a 5-year B-1/B-2 US visa;
a 20-year beneficial taxation regime with no taxes on corporate and personal income, capital gains, gifts or inheritance.
Key takeaways: how to obtain a second citizenship as a Nigerian
Holding multiple citizenship is permitted in Nigeria: if you obtain a passport of another country, you won’t have to renounce your Nigerian one, unless the rules of the state of your new citizenship dictate otherwise.
The help of a professional lawyer makes the process a lot easier for investors. In most cases, it is neccessary to apply via a licensed agent, such as Immigrant Invest. The company’s lawyers walk applicants through each step of the process and help eliminate the risk of rejection.
Depending on the country, a second citizenship can provide investors from Nigeria with great benefits: freedom of travel, financial stability, an opportunity to reduce the tax burden, and an option to choose a country with higher quality of life.
Some countries, like Antigua and Barbuda and Dominica, offer citizenship by investment programs for a contribution of $100,000.
In some states, like Vanuatu, citizenship can be obtained as fast as in one month. More often, though, the process takes up to 6 months.
It is best to obtain citizenship by investment with the help of professionals. Lawyers from Immigrant Invest will help you increase your chances of submitting a successful application and obtaining a second passport with no complications.
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