People are always surprised when you tell them that it is possible to get a second passport from Europe for a surprisingly low cost. This of course depends entirely on what country you want a second passport from. For example, through the Montenegro citizenship by investment option.

Every jurisdiction in Europe has different citizenship by investment program in which you donate money and you get a second passport in return after a certain period of time. Here are some of the most cost efficient citizenship by investment programs offered in Europe.


The least popular option in this list, but in my opinion shouldn’t be, is the one offered by the small country of Montenegro. Not many people know a lot about Montenegro, but I dare you to visit the country and not fall in love with its breathtaking beaches and gorgeous architectural landscapes.

Montenegro offers only one option when it comes to obtaining a second passport through investment. You must invest €250,000 into a business or by purchasing real estate and donate €100,000 to a pre approved government program. From application to residency it takes about 3 months. It takes about five years for you to become a full citizen of Montenegro.

montenegro residency


By far the most popular residency by investment option offered by a European country is the Golden Visa Program sponsored by the Portuguese government. Even though it’s not a direct path to citizenship, it can lead you there.

With different investment routes, from real estate to investment funds, it’s actually one of the cheapest, if not the cheapest after the recent Portugal golden visa changes made during the beginning of 2022 and the recent update about residency by investment not being an option from 2024 onwards. You can get a second passport and invite your family to come with you after staying (temporarily) in the country for some days each year.

What separates this program from others is how easy it is to navigate the immigration system in Portugal. They welcome foreign investment with open hands, so as long as you have the money and don’t have any financial black spots on your record you immediately qualify.


You will find one of the cheapest citizenship by investment programs offered in Europe in the Eastern European country of Romania. There are two investment options that lead to citizenship; buying commercial real estate or donating to medical business projects that have been pre approved by the government of Romania.

Best part about this is that, compared to other countries, there is no specific amount necessary to qualify for the citizenship by investment program. In most cases, a purchase or a donation of €30,000 is enough to cover the amount.


Bulgaria offers the fastest path to citizenship in all of Europe. By qualifying for the fast track citizenship program you and your family can obtain a second passport from Bulgaria in as little as 3 years.

The cost of the fast track program is currently at €1,024,000 with €512,000 for the normal route. This might be a little more expensive than most programs, but you have to consider the time of citizenship and how inexpensive it is to live in Bulgaria full time.


Serbia offers three routes for obtaining citizenship by investment, which is another reason why people are willing to move to Serbia:

A non-reimbursable contribution of at least €250,000. Acquisition of property worth at least €250,00 or a business investment of at least €500,000 and the employment of at least four Serbian workers.


Hungary offers a citizenship by investment program where you only have to step into the country once if you read that correctly. With an investment of €300,000 you can automatically qualify to become a citizen of Hungary after being a resident for 5 years.

After the five years are completed and you get your second passport you get all of your investment back. Hungary is an incredible country and I highly recommend you take a look at their incredible citizenship by investment program.


Spain is renowned for its rich cultural heritage, stunning landscapes, and vibrant lifestyle. It also offers an attractive Golden Visa program, which is an excellent opportunity for non-EU nationals to gain residency in Spain through investment.

The Spanish Golden Visa program primarily focuses on real estate investments, but it also includes options for financial asset investments or business projects. The minimum investment amount usually starts from €500,000 in real estate, which can lead to residency rights for you and your family. This investment threshold can be higher depending on the nature of the investment.

One of the key advantages of the Spanish Golden Visa is the relatively straightforward path it offers to permanent residency and potential citizenship. Moreover, it requires only a minimal physical presence in Spain, making it a flexible option for investors.


Poland’s investment program is a little different than all the others in the group, but it is still quite efficient. You have to create a business in the country and that business must have a couple of employees born in Poland and generate at least €15,000. Poland is a fantastic option that often gets overlooked by other major jurisdictions.