What is Citizenship by Investment (CBI)? Definition & Guide
A program that grants full citizenship and a passport in exchange for a qualifying economic contribution to the host country.
Citizenship by investment (CBI) programs grant applicants full citizenship, including a passport, in exchange for a significant economic contribution to the host country. This contribution is typically a non-refundable donation to a government fund or an investment in approved real estate.
CBI differs from Golden Visa programs in one important way: CBI provides citizenship and a passport, while Golden Visas provide residency permits that may or may not lead to citizenship over time.
Active CBI programs include those in St. Kitts and Nevis (established 1984, the oldest program), Dominica, Grenada, Antigua and Barbuda, St. Lucia, and Turkey. Each program has different investment thresholds, processing times and due diligence requirements.
The passport obtained through CBI carries the same legal weight as a passport obtained through birth or naturalization. It grants the holder visa-free or visa-on-arrival access to other countries according to that nation's passport agreements.
CBI programs have faced increased regulatory scrutiny in recent years. The EU pressured Malta, Cyprus and Bulgaria to modify or close their programs. The Caribbean programs now operate under the Joint Regional Communications Centre (JRCC) for enhanced due diligence coordination.
Why It Matters for Golden Visa Applicants
CBI programs provide a direct path to a second passport without multi-year residency requirements. For applicants who need immediate travel freedom, a political contingency plan or access to healthcare systems in a specific country, CBI can deliver results in three to six months. However, the cost is typically higher than Golden Visa programs, and the donation component is non-recoverable. Applicants should compare CBI against Golden Visa pathways that lead to citizenship over five to ten years at lower total cost.
Example
"The family obtained Grenada citizenship by investment through a $235,000 contribution to the National Transformation Fund, which also made them eligible for the US E-2 treaty investor visa."