From Caribbean island passports in a matter of months to Portugal’s fund-based Golden Visa with a clear 5-year path to EU citizenship, this guide walks through the seven fastest routes to a second passport or long-term citizenship plan in 2025.
By Explorer Investments • Updated 1 December 2025
Fastest CBI
~2–6 mo
Typical approval window
PT Golden Visa
5 yrs*
Path to EU citizenship
PT Investment
€500k
CMVM-regulated funds
Mobility
Global+
Visa-free travel boost
“For many families, a second passport is no longer a luxury – it’s a core part of wealth, risk and mobility planning. Caribbean CBI can be fast, but for EU-quality governance and regulated product standards, Portugal’s CMVM-supervised funds are the reference.”
Citizenship by investment (CBI) and Golden Visa programs give investors the ability to secure a second passport or a long-term path to citizenship by making a qualifying investment. In 2025, the landscape spans from quick Caribbean approvals to structured EU residency routes such as the Portugal Golden Visa via CMVM-regulated funds.
We’ll look at what CBI is, the benefits of a second passport, the main investment structures, and then highlight 7 standout programs – including Portugal, which is technically residency by investment, but with one of the clearest citizenship outcomes in the EU.
Citizenship by investment programs allow qualified investors to acquire a second citizenship and passport by making a pre-defined investment in a host country and passing due diligence checks. The concept was pioneered by St. Kitts & Nevis in 1984 and has since been adopted by other countries, particularly in the Caribbean and parts of Europe, the Middle East and Oceania.
Golden Visa programs are closely related but usually grant residency first, with citizenship coming later under normal naturalisation timelines. Portugal is a classic example: investors subscribe at least €500,000 into a CMVM-regulated fund, obtain residency, and after around five years may be eligible to apply for citizenship.
Dual citizenship is a powerful form of diversification – not only for capital, but for lifestyle, mobility and security.
While each program has its nuances, most CBI and Golden Visa routes use a combination of the following:
From pure CBI to residency-first models, these seven routes stand out in 2025 for speed, clarity and demand. Investment thresholds are indicative and may change, so always confirm details before committing.
Minimum donation: from $200,000 · Real estate: from $200,000 · Timeline: ~6–9 months
Dominica remains one of the most popular and cost-effective CBI programs. Investors can choose between a donation or government-approved real estate. Benefits include relatively quick processing, the possibility of including family members and a straightforward due diligence process.
Minimum donation: from $240,000 · Real estate: from $300,000 · Timeline: ~12–15 months
St. Lucia combines several options – donation to the National Economic Fund, real estate, or qualifying business investments. The passport offers strong visa-free access and allows dual citizenship, giving families flexibility in structuring their Plan B.
Donation: from $250,000 · Real estate: from $325,000 · Timeline: ~4–6 months
St. Kitts & Nevis was the first modern CBI program and still offers one of the fastest routes to a second passport. With a favourable tax environment and strong global mobility, it is often seen as a “flagship” Caribbean option.
Donation: from $235,000 · Real estate: from $350,000 · Timeline: ~9–12 months
Grenada’s key differentiator is its eligibility for the US E-2 Investor Visa, allowing approved nationals to live and run a business in the United States on a non-immigrant basis. For entrepreneurs wanting a US/Caribbean combination, this can be compelling.
Donation: from $230,000 · Real estate: from $300,000 · Timeline: ~6–9 months
Antigua & Barbuda offers donation, real estate and business investment options. Through certain fund structures, there can be education-related benefits, making it interesting for families focused on schooling and university pathways.
Donation: from $130,000 · Real estate: from $200,000 · Timeline: ~1–2 months
Vanuatu is one of the fastest programs in the world, with approvals often measured in weeks rather than years. It offers visa-free access to a solid list of countries and allows dual citizenship, but investors should accept that long-term EU access is more limited than with an EU passport.
Investment: from €500,000 in eligible regulated funds · Timeline: 8–12 months to residency, ~5 years to citizenship (subject to law and language)
Portugal is not a classic “instant” CBI program, but it is one of the most strategic options for investors seeking EU citizenship with strong governance. By investing at least €500,000 in a CMVM-regulated fund, investors can obtain residency with a low physical presence requirement (about 7 days per year) and, after around five years and an A2 language test, may apply for citizenship.
Explorer focuses on private equity and sector funds supervised by CMVM, aligning Golden Visa eligibility with institutional-grade risk management and audited structures. For families who want EU mobility but prefer regulated financial products over property or pure donations, Portugal stands out.
“Caribbean CBI may deliver a passport quickly; Portugal delivers a regulated, EU-based structure with a 5-year citizenship thesis. Increasingly, sophisticated investors combine both – fast mobility now, EU depth via CMVM funds over time.”
No country offers instant citizenship to foreign investors for free. “Free” routes usually refer to citizenship by birth, descent, marriage or long-term residence, not investment.
CBI can offer a faster, more predictable route to a second passport than traditional immigration, with clear investment thresholds and timelines for well-prepared applicants.
Typically, adults with a clean criminal record, a legitimate source of funds and the ability to pass due diligence and meet the required investment thresholds.
Rankings change, but several European countries – such as Germany, France, Spain, Italy, Ireland, the Netherlands and also Portugal – routinely appear at the top of global passport indexes for visa-free access.
Residency-by-investment programs – such as the Portugal Golden Visa, Greece and Italy investor visas – provide a more conservative, EU-aligned route where investors gain residency first and then follow standard naturalisation rules for citizenship.
The “fastest” citizenship is not always the “best” one. Caribbean CBI can provide speed and mobility; Portugal’s Golden Visa via CMVM-regulated funds offers EU depth, legal robustness and a clear 5-year citizenship thesis – provided you are willing to take a medium-term view.
If you want to understand how a Caribbean passport and a Portugal Golden Visa fund allocation might fit together as part of your global plan, Explorer can help you evaluate both routes in the context of your broader private equity, liquidity and family objectives.
Whether you are exploring the Portugal Golden Visa for EU residency or you simply want to allocate capital to private equity funds in Portugal, our Investor Relations team can help. We will walk you through CMVM-regulated fund options, clarify how they work for residency and for pure investment, and coordinate with trusted immigration and tax advisers. Schedule your confidential, no-obligation strategy call today.
André Bandeira
ab@explorerinvestments.com
Maria Campos Silva
mcs@explorerinvestments.com
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Get your complete, free guide to the Portuguese Golden Visa. Learn how to invest with confidence through Explorer Investments, the country's largest private equity fund.
André Bandeira
ab@explorerinvestments.comMaria Campos Silva
mcs@explorerinvestments.comCopyright © 2025 Explorer Investments
It is recommended to consult Chapter V of Decree-Law nº 162/2014, of October 31st, published in the Official Gazette, as well as its revision by Law nº 2/2020, of March 31st. The information included here is of a general nature, and therefore each potential investor should seek independent advice (e.g., legal, financial, tax, etc.)