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The Disappearing Golden Passport
Opportunities to buy citizenship are vanishing fast
Hate to be the guy who starts talking about fall when it’s still summer, but it’s time to start looking for new digs before it gets cold 🥶
Stay tuned as we find the best deals for this coming fall and break down the latest nomad news.
This Week in Nomad Deals
Lima, Peru: Why this foodie destination is a bargain.
September Flight Deals: One-way overseas flights for under $250 in the U.S. ✈️
Golden Passports: The few remaining countries that allow you to buy citizenship…for now.
The Deal With Lima
Occasionally, negative news headlines can create fantastic travel bargains. Take Lima, Peru. Eight months after political protests rocked the country and briefly shut down Machu Picchu, the city remains a relative bargain.
Airbnb prices in Lima remain below the same period last year, according to AirDNA. The $53 average nightly price is below Medellin, Colombia’s $57 a night.
The U.S. Dollar is down only 3% against the Sol this year, compared with -18% vs. the Colombian Peso.
One-way flights are available from nearly 40 major U.S. cities for under $250 this September.
Flights to Peru from the U.S. remain relatively inexpensive
Best Flight Deals for September
Nobody looks forward to the end of summer. Except, maybe, digital nomads.
The start of fall means falling airfare prices. The chart below shows where you can find one-way overseas flights from the U.S. for under $250 next month. Hit up Skyscanner to find a deal near you.
The Vanishing Golden Passport
The new rich person flex isn’t a Lambo — it’s a second passport.
Many countries, including the U.S., provide pathways for the wealthy to invest in exchange for residence. Others such as Austria occasionally bestow citizenship on “extraordinary” individuals (whatever that means). But very few nations allow you to buy citizenship outright, like you would buy a TV at Walmart…and these “golden passports” are vanishing quickly.
Ireland, Cyprus, Moldova, and Montenegro have all abolished their golden passports in recent years. The tiny nation of Malta is the last remaining passport-for-sale program in Europe, and the EU is currently suing them to end it.
Meanwhile, the Caribbean island nation of St. Kitts and Nevis just raised its minimum “donation” from $150,000 to $250,000. Other Caribbean countries with investor passports are expected to jack up prices soon as well. So if you got the cash in your piggy bank, this might be your last chance.
Benefits of a Second Passport
As Russian oligarchs discovered, another passport comes in handy if you need to flee the country or evade sanctions during a war (probably why the EU wants to end it). Even for an ordinary Joe, a second passport carries significant travel benefits, especially if you come from a country with a ‘weak’ passport.
Maltese citizenship, for example, entitles you to live and work anywhere within the EU. According to the Henley Index, it is one of the most powerful passports in the world, with visa-free travel to 187 countries. The St. Kitts passport is also coveted for visa-free access to 155 countries, particularly in Europe.
Where and How to Buy Citizenship
For the Caribbean countries, purchasing citizenship is pretty straightforward. All you need to do is make a “donation” to the government, and real estate options are often available as well.
North Macedonia merely requires that you invest in a private fund, while Turkey asks that you buy $400K of real estate. Jordan allows you to purchase a passport outright for $1 million; alternatively, you can invest $750K into a real estate project.
Malta’s golden passport is more complex. The fastest option requires you to lease an apartment, make a donation to the government, and then purchase real estate.