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Ever imagined trading your current passport for one that opens doors to exciting new adventures? While it might sound like a far-fetched dream, several countries offer citizenship programs that could make it a reality.
Although obtaining a citizenship or residency is not cheap, if it is a priority, the investment is worth it. But before that, let's establish the difference between citizenship and residency.
Citizenship guarantees you all the rights a person born in that country would enjoy, for instance - having a passport and the right to vote. However, residency differs in a few ways. While it gives you the freedom to travel freely across the country, work and get paid there, it does not offer all the rights it would a citizen.
Moreover, temporary residency lasts for a set period of time while permanent residency does not have a cap on time.
Golden visas are offered by some countries and are a way to obtain residency - but not citizenship. These visas are usually given in exchange for an investment in a country's economy. People donate to government-sponsored programs or invest in properties to take advantage of this.
Portugal, Spain and Greece are some of the popular destinations offering golden visas. Spain had issued around 800 golden visas during 2024.
Apart from golden visas, there are Citizenship by Investment Programs (CIP) that can get you a passport if you invest heavily or pay a fee for that country.
In addition to the above, there is an interesting visa which allows folks to live and work in the country while still paying taxes to their country of origin, called digital nomad visa. Estonia, Germany and Norway are countries that provide such visas.
Caribbean nations like Antigua and Barbuda, St. Kitts and Nevis, St. Lucia, Grenada, and Dominica offer CIP programs with various options for investment. Cambodia, Singapore and Australia offer CIP programs too, with Cambodia being among the cheaper options, with investments starting at $245,000.
Singapore's program requires a $7 million investment for a two year residency program and Australia offers the program only to highly skilled individuals with a net worth exceeding $1 million. Countries like Turkey, Greece, Hungary and Brazil also offer golden visa programs.
Obtaining residency or citizenship in a foreign country can be a complex and costly process. However, with the right investment and guidance, it can also offer a world of opportunities and adventures. Whether you're looking for a golden visa, CIP, or digital nomad visa, there are several countries that offer relatively easy and affordable options.