Best countries for Indian residents to buy property and secure a second passport

Investing in property to secure a second passport has become a popular choice for Indian residents looking for global mobility and financial diversification. With several countries offering citizenship by investment programs, the opportunity to acquire a second passport is more accessible than ever. 

Abhay Jaiswal, Investment Programs Expert at Immigrant Invest, explores the best countries with citizenship by investment programs for Indian residents to purchase property and obtain a second passport.

Countries for Indian residents to buy property

Several countries offer citizenship by investment for Indians by property purchase, with varying minimum amounts and requirements. 

Top real estate investment destinations include Antigua and Barbuda, Grenada, Dominica, St Lucia, St Kitts and Nevis, Malta, Turkey, and Egypt. Each of these countries offers unique benefits to investors, ranging from tax advantages to visa-free travel.

Antigua and Barbuda. Citizenship by property investment in Antigua and Barbuda starts with a minimum property purchase of $300,000. This option allows investors to access a range of benefits, including visa-free travel to many countries. 

Additionally, the process can be completed within a few months, making it one of the faster citizenship programs available. For Indian residents seeking a quick route to a second passport, Antigua and Barbuda is an ideal option.

Grenada offers citizenship with a property investment of at least $270,000. One of the unique advantages of Grenada’s passport is access to the US E-2 visa, which allows business investors to reside in the United States. 

This makes Grenada particularly attractive to Indian business owners or entrepreneurs looking to expand into the US market. 

Dominica is known for its affordable citizenship options, with property investments starting at $200,000. The Dominica Citizenship by Investment program provides visa-free access to many countries and territories, including the Schengen Area. 

Dominica’s program is popular due to its cost-effectiveness and relatively simple application process. Indian residents who want to maximise their investment will find Dominica a solid choice.

St Lucia offers a citizenship-by-investment program with a real estate investment of $300,000. St Lucia’s government has streamlined the process to ensure a fast and efficient path to a second passport. 

Additionally, St Lucia’s growing economy makes it an attractive destination for property investors seeking both citizenship and returns on investment.

St Kitts and Nevis. The St Kitts and Nevis program is one of the oldest in the Caribbean, with a minimum real estate investment of $325,000. St Kitts and Nevis provides visa-free travel to many countries and a tax-friendly environment, which appeals to Indian residents seeking financial benefits alongside citizenship. 

This country’s program is well-established and trusted, offering one of the quickest routes to second citizenship in the world.

Malta citizenship by naturalisation for exceptional services by direct investment offers citizenship for investors, including real estate options. A property investment of at least €700,000 is required to secure citizenship. To qualify successfully, applicants also must: 

1. Contribute to Malta’s National Development and Social Fund — €600,000+. 
2. Make a donation to a Maltese non-governmental organisation — €10,000. 

Malta’s passport provides visa-free access to over 160 countries, including the United States, Canada, and the European Union.

Turkey. Turkey’s citizenship-by-investment program is available for property investments starting at $400,000. Turkey offers visa-free or visa-on-arrival access to 126 countries, including Japan and Singapore. 

For Indian residents, Turkey’s growing economy and strategic location between Europe and Asia make it a favourable option for acquiring a second passport. Turkey’s real estate market has seen significant growth, offering good potential for returns on investment.

Egypt offers a relatively new citizenship-by-investment program, with a minimum property investment of $300,000. Egypt’s passport provides access to a range of Middle Eastern and African nations, which may appeal to Indian residents with regional business interests. 

Although Egypt’s second citizenship for Indian investors is relatively new, it offers promising opportunities for foreigners looking to diversify their portfolio and secure a second passport.

Can Indian citizens have dual citizenship?

India does not allow dual citizenship under its current legal framework. However, Indian citizens can hold an Overseas Citizen of India (OCI) card, which provides many benefits, including multiple-entry, long-term visas and the right to live and work in India. 

Indian residents acquiring a second passport would need to weigh the pros and cons of renouncing their Indian citizenship to obtain citizenship in another country. It’s important to consult with legal experts to fully understand the implications of making property investment for dual citizenship while maintaining ties to India.

How to Apply for Second Citizenship by Investment

The process of applying for second citizenship by property investment generally follows a similar structure in each country:

1. Choose a country. Identify the best country that aligns with your investment goals and citizenship needs.
2. Submit the application. Complete the citizenship application process, which includes background checks and documentation.
3. Make the investment. Purchase property or make other required investments to qualify for citizenship.
4. Receive your passport. Upon approval, receive your new passport and begin enjoying the benefits of dual citizenship.

Each country’s requirements may vary slightly, but all offer the potential for increased global mobility, financial opportunities, and personal security through a second passport. The entire process usually takes several months, depending on the specific program, and it is essential to work with authorised agents to ensure compliance with all legal requirements.

Conclusion

Securing a second passport by property investment offers Indian residents a gateway to global mobility and financial stability. Countries like Antigua and Barbuda, Grenada, Dominica, St Lucia, St Kitts and Nevis, Malta, Turkey, and Egypt provide various investment thresholds and benefits, making it possible for investors to find the right fit for their goals. By carefully selecting a country that aligns with personal and financial objectives, Indian residents can enjoy the many advantages of a second passport.