The Most Critical Changes to Citizenship By Investment Programs in 2023

Sovereign Confidential


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The beginning of 2023 has brought multiple changes to the Citizenship By Investment (CBI) world. 

Some of them are good.

For example, the Caribbean nation of Saint Kitts and Nevis now offers a substantial discount on their popular Sustainable Growth Fund (donation) program. This offer will expire in July 2023. 

And their neighbor, Saint Lucia, introduced a permanent new bond offering, with conditions almost as beneficial as the reduced-cost program it replaces (COVID relief bonds).

However, not all of the latest CBI developments were positive.

Over the past few months, two European CBI programs – Bulgaria and Montenegro – succumbed to pressure from Brussels and were consequently shuttered.

And Vanuatu lost its visa-free access to the Schengen Area, effectively making the program unsellable. (Its visa-free access to the UK and EU was a huge selling point, and we’re glad to say that we always recommended staying away from this program.) 

In addition, Turkey introduced a flurry of new restrictions that you need to know about if you plan to participate in their program.

And Uncle Sam made life much more difficult for those who planned to use a CBI passport as a springboard to move to the United States.

We delve into all of these changes (and more) in this concise report.

As we mentioned many times, we consider second citizenship (and, to a lesser extent, foreign residency) to be one of the best ways to protect your freedom, and give yourself more options.  With a second passport in hand, you will never be dependent on the whims of any single government. And you will always have…

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