Want a Second Passport? Here Are 3 Countries You Can Buy Your Way Into the EU
Quality of life, health care and the freedom to spend unlimited time in Europe are a few reasons why people are looking into citizenship programs in Malta, Cyprus and Portugal.
One's wealth serves as a safety net for professionals and their families. However, the current geopolitical and economic landscape might mean that wealth alone, without a larger plan, may not be enough.
When it comes to travel freedom, the passport that wealthy individuals hold can hamper their ability to respond to threats or new opportunities to access the global travel, business opportunities and lifestyle options that they find most appealing. For this reason, the financial planning model for high- and ultra-high-net-worth individuals (HNWIs) is evolving to include citizenship planning, with many law firms, family offices and wealth advisers expanding their investment offerings to satisfy their clients' increasing needs.
Safety, Security and Stability in Europe
Given the incomparable level of protection and comfort that the region offers, Europe has become the first choice for many individuals looking to acquire alternative residence or citizenship. According to experts in this field, European passports are also among the strongest in the world in terms of the travel freedom they afford their holders.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
While U.S. passports have traditionally offered visa-free access to EU countries, passport holders have still been restricted from working and living in the countries and could only stay there for a maximum period of three months at a time. Beginning in July 2021, further barriers will be in place for U.S. citizens traveling to Europe. The European Travel Information and Authorization System will be conducting an additional security check on all non-EU travelers headed to Europe's Schengen Area, which is made up of 26 countries, including France, Germany and Spain. The new rules affecting U.S. citizens will require a separate application, cost and border control approval, both upon leaving the USA and upon arrival in Europe.
Individuals with a second EU passport or residence card can eliminate the restrictions to their travel freedom, whether now or in the future, move seamlessly through airports, and access the immeasurable business potential of the European market and the region's world-renowned educational and health care facilities.
How can U.S. citizens make that happen, and which countries might they consider pursuing a second EU passport? Here are some ideas:
Gaining Citizenship Through Malta or Cyprus
The small yet highly advanced islands of Malta and Cyprus offer two of the most highly regarded citizenship-by-investment options in the EU. Malta's high standard of living, along with its central location in the Mediterranean, makes it an attractive second home for wealthy families. It has experienced above-average economic growth in recent years, as investors and travelers alike tap into the island nation's enormous potential.
Considered the investment migration industry's gold standard, the Malta Individual Investor Program (MIIP) offers a gateway to the world's eighth- strongest passport, according to the Henley Passport Index, which ranks all the world’s passports according to the number of destinations their holders can access without a prior visa. A Malta passport offers visa-free or visa-on-arrival access to 182 destinations. The minimum contribution for the MIIP is approximately 1 million euros, and the Maltese passport can be obtained within roughly 12 months.
Cyprus, a fellow Mediterranean marvel, features an accessible business environment, state-of-the-art communication infrastructure, and a skilled labor force. A minimum investment of 2 million euros in real estate is required for the Cyprus Investment Program, and successful applicants gain visa-free or visa-on-arrival access to 173 destinations worldwide within approximately six months.
Inclusive and Peaceful Residence in Portugal
The Portugal Golden Residence Permit Program is an excellent option for HNWIs seeking residence that leads to citizenship in the EU, particularly for entrepreneurs with the capacity to create jobs. With a minimum investment of 250,000 euros, this highly popular program grants five-year residence permits to successful applicants and residence in one of the world's most multicultural nations.
Citizenship Planning
We want to thank Henley & Partners, a global industry leader in residence and citizenship planning, for the data provided for this report. Each year, hundreds of wealthy individuals and their advisers rely on their expertise and experience in this area. Their highly qualified professionals work in over 30 offices worldwide.
-
Stocks Extend Losing Streak After Fed Minutes: Stock Market TodayThe Santa Claus Rally is officially at risk after the S&P 500's third straight loss.
-
What Bilt Cardholders Need to Know as Wells Fargo Exits the ProgramA major shake-up in the Bilt Rewards program could affect your credit card, rent rewards and points strategy heading into 2026.
-
3 Major Changes to the Charitable Deduction in 2026Tax Breaks About 144 million Americans might qualify for the 2026 universal charity deduction, while high earners face new IRS limits. Here's what to know.
-
I'm a Financial Pro: You Really Can Make New Year's Money Resolutions That Stick (and Just Smile as Quitter's Day Goes By)The secret to keeping your New Year's financial resolutions? Just make your savings and retirement contributions 100% automatic.
-
Domestic vs Offshore Asset Protection Trusts: A Basic Guide From an AttorneyLearn the difference between domestic asset protection trusts and foreign or offshore asset protection trusts to help you decide what might work best for you.
-
As We Age, Embracing Our Own Self-Doubt Can Be a Gift: A Cautionary Tale About Elder Financial AbuseAn aging couple hired a company that illegally required large deposits, and then they decided to stick with the company even after an employee stole from them.
-
Now That You've Built Your Estate Planning Playbook, It's Time to Put It to WorkYou need to share details with your family (including passwords and document locations) and stay focused on keeping your plan up to date.
-
I'm a Wealth Adviser: These 10 Strategies Can Help Women Prepare for Their Impending Financial PowerAs women gain wealth and influence, being proactive about financial planning is essential to address longevity and close gaps in confidence and caregiving.
-
I'm a Financial Planning Pro: This Is How You Can Stop These 5 Risks From Wrecking Your RetirementYour retirement could be jeopardized if you ignore the risks you'll face later in life. From inflation to market volatility, here's what to prepare for.
-
Are You Hesitating to Spend Money You've Spent Years Saving? Here's How to Get Over It, From a Financial AdviserEven when your financial plan says you're ready for a big move, it's normal to hesitate — but haven't you earned the right to trust your plan (and yourself)?
-
Time to Close the Books on 2025: Don't Start the New Year Without First Making These Money MovesAs 2025 draws to a close, take time to review your finances, maximize tax efficiency and align your goals for 2026 with the changing financial landscape.
