We have compiled the most important differences between three citizenship by investment schemes in Europe. Based on this you can decide which citizenship scheme is better for you.

From our point of view, Cyprus is far better scheme than Montenegro and Malta, no doubt it is the best CBI scheme for investors but it way too expensive. Montenegro is a cheap european scheme, considering Montenegro will join EU in 2025, it will be a great future investment.

Take a look below..

Citizenship by Investment (CBI) Montenegro Malta Cyprus
 CBI Launch 2018 2014 2013
Scheme Special Citizenship by Admission Direct Citizenship by Exception Cyprus Investment Program (CIP) is closed
Total Pricing €350,000 €750K €2.15M
Real Estate €250,000 na €2.5M
Quota / Limits of CBI scheme 2000 (total) 1500 (total) 700 (per year)
Qualifying investments Real estate
Fisheries / Wood industry
Donation Real Estate
Business Capital
Bonds / Shares
Safety Score 59.52 66.47 70.69
Visa free countries 123 183 173
Personal visit required Yes Yes Yes
EU schengen visa free yes yes yes
Visa free to United Kingdom no yes yes
Visa free to United States no yes no
Visa free to Canada no yes yes
Visa free to Russia yes no no
Visa free to China no no no
Eurozone yes yes yes
EU membership candidate yes yes
GDP billion 12 20 35.9
How Rich – GDP per capita $ 19120 44587 41572
Population 629K 432K 1.1M
CBI Passport time (months) 3 12 6
Residency conditions 3 weeks 12 months 6 months
Dual citizenship yes yes yes
Oath ceremony yes yes yes
EU citizenship / passport no yes yes
E-2 treaty with US yes no no
Education Rank 74 48 19
Healthcare Rank 99 5 24
Human Development Rank 50 29 32
Publish citizens names in Official Gazette no yes no
Government Debt 0.713 0.527 1.045
Personal Income Tax 15% 35% 35%
Corporate taxes 9% 35% 12.5%
Currency EUR EUR EUR
VAT 19% 18% 19%
Property prices (sq.m) on average €1,400 €4,576 € 1,678
Tourist arrivals 2.2 million 2.6 million 3.9 million
Due Diligence Strict
Enhanced Due Diligence (EDD)
Very strict
CBI Transparency NA Very Good Average
Passport Validity (years) 10 10 10
Biometric Passport yes yes yes
Right to Vote / Government Office yes yes yes
European Parliament elections / Local and municipal elections / Stand as candidate no yes yes
Honorary Citizenship no no no
Third Generations Citizenship yes yes yes
Passport renewal fee USD 30 570 80