What if you could buy citizenship in a country with zero income tax, zero capital gains tax, and have a passport in hand in 60 days? You can. But there’s a catch. The EU just revoked that country’s visa-free access. And it’s not the only program with strings attached.
Right now, 7 countries will sell you a passport through official government programs. I’m going to break down all 7, what they cost, who they’re for, and the one that just disappeared for good.
Why Would You Even Want One?
Canada’s passport ranks 7th in the world right now. Access to 182 countries, visa-free. So why would anyone with a top-10 passport https://dailyhive.com/canada/canada-passport-ranking-march-2026 want a second one?
Here’s what most people overlook. Visa-free access means you can visit. It doesn’t mean you can live there. A Canadian passport lets you travel to 27 EU countries. It doesn’t let you rent an apartment in Lisbon and stay. A second citizenship gives you the actual right to live, work, and settle in that country, and in some cases, across entire regions.
Then there’s the Plan B factor. A growing number of Canadians are thinking about optionality for tax planning, retirement, or relocation down the road.
So let’s get into it. Starting with a G20 country most people don’t associate with selling passports.
The G20 Surprise
Turkey. 85 million people. A $1 trillion economy. NATO member. Istanbul alone is one of the most visited cities in the world.
Turkey will grant you full citizenship for a $400,000 USD real estate investment with a three-year holding period. No residency requirement. No language test. You can also go the bank deposit or government bond route at $500K, but real estate is what most people choose.
The threshold went up from $250K to $400K in 2022. Processing time is typically three to six months in straightforward cases, though it can run longer.
Now the passport itself isn’t elite. Ranked about 51st, access to roughly 110 to 115 destinations. But Turkey isn’t on this list for passport power. It’s here because of what $400K actually buys you. Full citizenship in a G20 economy with a tax treaty with Canada. That matters if you’re thinking about splitting time or eventually relocating.
And here’s something else. Turkish citizens are eligible for the US E-2 Treaty Investor Visa. That means if you start or buy a business in the US, you can live and work there. For Canadians who want American access without the EB-5 price tag, that’s a serious perk.
Here’s a bonus. Istanbul costs about a third less than Calgary. A single person can live in Istanbul for about $1,000 to $1,500 USD a month. Try that in any major Canadian city.
And look, Turkey’s political situation is not simple. Inflation has been a challenge, the lira has been volatile, and the democratic landscape is worth understanding before you commit capital. Go in with your eyes open.
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The One I Wouldn’t Recommend
Jordan. This one technically qualifies, but I wouldn’t touch it.
Jordan overhauled its program in July 2025. All the old passive routes are gone. Every pathway now requires active business investment with mandatory job creation. The cheapest new-project route runs about $700K and you need to create 10 jobs.
The passport is ranked around 84th with access to about 51 countries. It does have a tax treaty with Canada. But for $700K and a requirement to build a business, you could get citizenship elsewhere on this list for $235K with a passport that opens nearly three times the doors. Without employing anyone.
The math just doesn’t work. Moving on.
The Country That Started It All
St. Kitts. Two islands in the eastern Caribbean. About 47,000 people. Smaller than Brampton. And the birthplace of a multi-billion dollar global industry.
St. Kitts launched the world’s first citizenship-by-investment program in 1984. The sugar industry was dying, so this tiny nation invented an entirely new economic model out of pure necessity. That’s genuinely remarkable.
The current program, after 2024 reforms: $250,000 donation for a single applicant or family up to four. Developer real estate starts at $325K with a seven-year hold. Private home purchase is $600K, also seven-year hold.
They’ve tightened things significantly. Mandatory interviews. Biometric data collection starting April 2026. And in a huge credibility win, the US Treasury’s FinCEN formally lifted its advisory on the program in February 2026. That advisory had been hanging over the program since 2014.
The passport? Ranked roughly 25th, access to over 150 destinations. Strongest Caribbean passport. No tax treaty with Canada. Processing time about six months, sometimes longer.
And heads up. St. Kitts has signalled it’s introducing genuine-link requirements later in 2026. That means physical presence, real economic engagement, structured ties to the country. The donation-only model is being phased out. If you’re considering this one, sooner is better than later.
The Best Value on the List
Grenada. Spice island of the Caribbean. About 125,000 people. Nutmeg, cocoa, and a laid-back pace that makes the rest of the world feel like it’s trying too hard.
This is the one that punches way above its weight.
$235,000 National Transformation Fund donation for a single applicant or family up to four. Real estate route is $270K minimum in an approved project with a five-year hold, plus a $50K government fee.
Passport ranked roughly 25th to 27th, around 145 destinations. Schengen access. UK. Singapore. Hong Kong.
And here’s something most people don’t know. Grenada is one of the only CBI passports that gets you into China visa-free. Up to 30 days. That’s a genuine differentiator.
Like Turkey, Grenadian citizens are also eligible for the US E-2 Treaty Investor Visa. In fact, Grenada is the only Caribbean CBI program with an E-2 treaty. So if access to the US matters to you, this is the one.
Compare that to St. Kitts at $250K for a stronger passport, or Turkey at $400K for a weaker one. Grenada sits in a sweet spot that’s hard to beat on pure value.
No tax treaty with Canada. Processing time roughly four to nine months.
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The Tax Play
Now here’s one most Canadians have never heard of. And it’s not on this list for the passport.
Vanuatu is a Pacific island nation that runs the Development Support Program. Minimum investment: $130,000 USD for a single applicant. $150K for a couple. $180K for a family of four. Non-refundable donation. And it’s the fastest CBI program in the world. Roughly 45 to 60 days from application to passport in hand.
Here’s why people look at this one. No personal income tax. No capital gains tax. No inheritance tax. None. For someone whose primary goal is establishing tax residency in a zero-tax jurisdiction rather than travel access, that changes the math entirely. But you’d actually need to move there and sever your Canadian tax ties for that to matter. The passport alone doesn’t change your tax situation. More on that in a minute.
Now the trade-off is real. The EU permanently revoked Vanuatu’s visa-free access in December 2024 after serious security concerns. The UK requires a visa too. So the passport gets you about 91 destinations. Singapore, Hong Kong, Malaysia, most of the Caribbean and Pacific. But not London. Not Paris. Not Rome.
No tax treaty with Canada. Dual citizenship allowed. No residency requirement.
If you’re optimizing for travel access, this isn’t the one. But if you’re building around a tax strategy… $130K and 60 days is hard to ignore.
The Rolls-Royce of Passports
Now the complete opposite end of the spectrum. Austria.
Vienna. Mozart, Freud, and arguably the highest quality of life of any city in Europe. And a passport most people don’t even know you can buy.
This isn’t a standard CBI program. It’s a constitutional provision under Section 10(6) of the Austrian Citizenship Act for “extraordinary achievements” or contributions to Austria’s national interest.
No published price. No standard application. The Council of Ministers must approve each case individually. Reported range: €3 to €10 million or more. And the investments must be active. Creating jobs, generating exports, fostering innovation. Passive investments don’t qualify.
Roughly 10 to 50 approvals per year. Processing takes one to three years.
Here’s what makes it special. No residency requirement. This pathway waives it entirely. And Austrian citizenship means EU citizenship. Live and work in any of 27 member states. Passport ranked 4th globally, about 185 destinations.
Austria generally prohibits dual citizenship, but Section 10(6) grants are an exception. The government may permit you to keep your Canadian passport. And yes, tax treaty with Canada.
If Turkey is the Honda Civic of second passports, Austria is the Rolls-Royce. Bespoke, invitation-only, and there’s a waiting list.
The Best Deal That No Longer Exists
And finally. Remember at the top I mentioned one country that had the best program on earth… until a court killed it?
Malta. Tiny Mediterranean island. Half a million people. One of the most powerful passports on earth.
Malta ran its citizenship by investment program, formally the Exceptional Investor Naturalization scheme. A direct path to EU citizenship. Not residency. Citizenship. Passport ranked 6th globally, 183 destinations.
The program cost roughly €1 million all-in. €600K to €750K government contribution depending on the residency track, plus real estate, plus a charitable donation.
Then on April 29, 2025, the European Court of Justice ruled the program violated EU law. Malta formally abolished it on July 24, 2025. Existing citizenships remain valid. But the door is closed.
Before You Start Googling
Now before you start filling out applications, one thing you need to understand. A second passport does not change your Canadian tax situation. A lot of people assume it does. It doesn’t. Under the Income Tax Act, tax residency is based on residential ties. Your home, your spouse, your dependants. Not how many passports you carry. If you’re a Canadian tax resident, you’re filing and paying tax on worldwide income. Full stop.
And if you’re actually planning to leave Canada, the passport is just step one. There’s a departure tax, residency tie rules, and the order you do things in matters enormously. Getting this wrong can cost you.
Conclusion
Whether it’s $130,000 to a Pacific island or a multi-million euro commitment to an Austrian one, more Canadians are deciding that a Plan B is just smart planning. And as Malta proved, the best time to look into it is before the door closes.
If you’re thinking about what a second passport really means for your taxes and your long-term plan, it’s worth getting clarity before making any decisions.
That’s exactly what we help Canadians do at Blueprint Financial — turning complex cross-border questions into clear, actionable plans.
If you’d like to explore how we can help, check out our financial planning services.
You can also download our free guide, 7 Biggest CRA Tax Traps When Leaving Canada. And for more practical insights on taxes, residency, and living abroad, join our free financial newsletter. The right strategy now can save you from costly surprises later.
