There are eleven active citizenship by investment programmes in 2026, ranging from $90,000 to over $1 million and from as little as 45 days to two years. Comparing them properly means comparing complete costs, real timelines and like-for-like visa counts, none of which most agent websites do.
This is our attempt at a fair table. We are Vanuatu’s Master Agent and we have not hidden that, but the figures below are drawn from independent sources and we have listed Vanuatu’s weaknesses alongside everyone else’s.
All-in cost is for a single applicant including government fees, due diligence and typical agent fees, per CitizenX’s published pricing (July 2026), except Vanuatu, where the figure is the complete government cost with no agent fee. Visa-free counts are CitizenX’s. Timelines are CitizenX’s real-world estimates.
| Programme | All-in cost (single) | Minimum contribution | Refundable? | Time to passport | Visa-free | Schengen | UK | Interview |
|---|---|---|---|---|---|---|---|---|
| São Tomé and Príncipe | ~$105,000 | $90,000 donation | No | ~5 months | 61 | No | No | No |
| Nauru (Naoero) | ~$128,000 (discount to Dec 2026) | $90,000 donation ($115,000 standard) | No | ~9 months | 87 | No | Yes | Yes |
| Sierra Leone | ~$121,000 | $100,000 donation | No | ~6 months | 64 | No | No | No |
| Vanuatu | $135,000 (DSP) / $165,000 (CIIP) | $130,000 donation / $110,000 + $50,000 redeemable | CIIP: $50,000 returned after 4 yrs | As little as 45 days | 90 (100+ incl. e-visa) | No | No | No |
| Dominica | ~$243,000 | $200,000 donation | No | ~9 months | 143 | Yes | No | Yes |
| Antigua and Barbuda | ~$274,000 | $230,000 donation | No | ~18 months | 153 | Yes | Yes | Yes (5-day visit) |
| St Lucia | ~$276,000 | $240,000 donation | No | ~2 years | 146 | Yes | Yes | Yes |
| Grenada | ~$280,000 | $235,000 donation | No | ~6 months | 147 | Yes | Yes | Yes |
| St Kitts and Nevis | ~$288,000 | $250,000 donation | No | ~6 months | 154 | Yes | Yes | Yes |
| Türkiye | ~$448,000 | $400,000 real estate | Yes (property, after 3 yrs) | ~9 months | 112 | No | No | No |
| El Salvador | ~$1,021,000 | $1,000,000 in BTC/USDT | No | ~10 weeks | 134 | No | No | No |
Malta’s programme, at over €1 million with a residence requirement, is omitted as a different category. Egypt and Jordan run programmes with limited uptake and are omitted for space.
On price, the market has three tiers. Under $130,000: São Tomé, Nauru, Sierra Leone. $130,000–170,000: Vanuatu. $240,000–290,000: the Caribbean five. Above that: Türkiye and El Salvador, which are different propositions.
On refundability, only two programmes return capital. Vanuatu’s CIIP returns $50,000 after four years through the Impact Fund. Türkiye’s real estate can be sold after three years, subject to the market. Everything else is a donation.
On speed, Vanuatu and El Salvador are the outliers at under three months. The Caribbean has slowed materially since 2023, with St Lucia and Antigua now well over a year in practice.
On mobility, the Caribbean five are in a different league because they retain Schengen access. Vanuatu, Nauru and Türkiye sit in the 87–112 band. São Tomé and Sierra Leone are weak passports.
On process, every Caribbean programme now requires an interview, as does Nauru. Vanuatu, São Tomé, Sierra Leone, Türkiye and El Salvador do not.
São Tomé and Nauru at $90,000 are the cheapest routes to a passport. What you give up is passport strength (61 and 87 destinations), speed (five and nine months), track record (both launched in 2025), banking acceptance (unproven) and, in Nauru’s case, a biometric passport. They are reasonable as a pure backup for someone who already holds a strong passport. Read Vanuatu vs Nauru and Vanuatu vs São Tomé
St Kitts, Antigua, Grenada and St Lucia give you Schengen and UK access for $275,000–290,000 and six months to two years. If European mobility is the objective, one of them is the answer and Vanuatu is not. Read Vanuatu vs St Kitts
Vanuatu is the only established programme under $170,000, the only one that completes in weeks, the only contribution programme that returns capital, and one of the few with no interview. It is also the only established programme to have lost Schengen and UK access, which is the honest reason it costs half what the Caribbean does. For applicants whose travel runs through Asia, the Pacific, the Gulf and the Americas, and who value speed, cost and a redeemable option, it is hard to beat. For applicants who need Europe, it is the wrong choice.
The table is for a single applicant. For families, three programmes stand out. Vanuatu’s CIIP includes a family of four at $165,000 with $50,000 returned. Nauru’s flat contribution covers a family and its dependant definition is the most generous in the market, including siblings. São Tomé’s family of four is $95,000. The Caribbean programmes add $25,000–75,000 or more per dependant, widening their cost gap with Vanuatu considerably.
Decide what you are buying before you look at price. If it is Schengen access, look at the Caribbean. If it is EU residence rights, look at Malta. If it is speed, cost and a Plan B with a real jurisdiction behind it, look at Vanuatu. If it is the cheapest possible backup and nothing else, look at São Tomé or Nauru. Then verify the agent, check the complete cost, and read the fine print on refundability.
What is the cheapest citizenship by investment?
São Tomé and Príncipe and Nauru at $90,000 minimum contribution; around $105,000–128,000 all-in.
What is the fastest?
Vanuatu, at as little as 45 days from application to passport.
Which has the strongest passport?
St Kitts and Nevis, around 154 destinations including Schengen and the UK.
Which programmes refund the investment?
Vanuatu’s CIIP ($50,000 after four years) and Türkiye’s real estate route (sale after three years).
How often do prices change?
Frequently. Nauru’s discount ends December 2026; the Caribbean raised prices in 2024. Check before deciding.
Use the cost calculator for a Vanuatu figure for your family, or book a consultation to talk through the whole market. If another programme suits you better, we will say so.
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