The world's most elite travelers enlist in citizenship by investment programs, where investing in a country's economy can grant easy access to more powerful passports
CIPs range from $100,000 in the island of Dominica to a minimum of $2.15 million in Cyprus -- and the best passports, in terms of mobility, tend to be the most expensive.
Other popular passports include Portugal, where the country's Golden Visa Program provides a two-year residency permit and a fast-track to citizenship, extending the courtesy to immediate family.Meanwhile, countries such as Antigua and Barbuda, in the Caribbean, are cheaper -- with just a $100,000 contribution into its National Development Fund required.If you're already scoping property in Cyprus or Portugal, a CIP is like a two-in-one deal.There are professional benefits as well.
Americans can hold multiple passports, but if they want to avoid US taxes -- or double-taxation, for those living abroad -- they must renounce their citizenship. Or they might consider the investment a sort of security blanket -- a back-up plan in case of sanctions, war, or natural disasters. "Billionaires usually will have taken care of these issues when they are still 'simple' millionaires," said Katz.
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