Microstates are smallest countries in the world with small land mass (less than 1000 km2) and small population (less than 500K).  It is important to understand that overseas territories, and SARs are not considered as microstates.

Microstates should not be confused with micronations, which are not recognized as sovereign states. Micronation citizenships that have no value. Many micronations issue fantasy passports which are not valid, sought by passport collectors.

Microstates often rely on other countries in order to survive, as they have a small military capacity and a lack of resources. In Europe, Andorra, Liechtenstein, Monaco, San Marino and the Vatican City as examples of such microstates.

There are 7 microstates that have already installed active citizenship by investment programs. Any future citizenship by Investment programs have high chances of being established in microstates to support their economic revival from devastating effects of Covid and natural disasters.

Microstates have their own citizenship legislation and they issue their own passports to its citizens. These passports are internationally recognized everywhere facilitating visa free travel to most parts of globe.

St Kitts is the first sovereign microstate to start a citizenship by investment program in the Caribbean in 1984. Since then many other states followed. Citizenship sales is the biggest revenue earner for these small nations raising billions in revenues that helped to reduce their public debts, social and economic development, welfare projects and insurance against hurricanes that strike every year.

Below are the top microstates in terms of land area and local population.

RankCountryArea (km2 or sqmi)Population
1Vatican City0.44 km2 (0.17 sq mi)1,000
2 Monaco2.02 km2 (0.78 sq mi)37,308
3 Nauru21 km2 (8 sq mi)9,488
4 Tuvalu26 km2 (10 sq mi)10,782
5 San Marino61 km2 (24 sq mi)32,742
6 Liechtenstein160 km2 (62 sq mi)37,313
7Marshall Islands181 km2 (70 sq mi)70,983
8Saint Kitts and Nevis*261 km2 (101 sq mi)51,538
9Maldives298 km2 (115 sq mi)393,595
10Malta*316 km2 (122 sq mi)412,655
11Grenada*344 km2 (133 sq mi)110,152
12Saint Vincent and the Grenadines389 km2 (150 sq mi)102,918
13Barbados430 km2 (166 sq mi)289,680
14 Antigua and Barbuda*443 km2 (171 sq mi)91,295
15 Seychelles455 km2 (176 sq mi)91,650
16 Palau459 km2 (177 sq mi)21,186
17 Andorra468 km2 (181 sq mi)85,458
18 Saint Lucia*616 km2 (238 sq mi)163,362
19 Federated States of Micronesia702 km2 (271 sq mi)105,681
20 Singapore714 km2 (276 sq mi)5,888,926
21 Tonga747 km2 (288 sq mi)106,440
22 Dominica*751 km2 (290 sq mi)73,449
23 Bahrain765 km2 (295 sq mi)1,140,942
24 Kiribati811 km2 (313 sq mi)104,488
25 São Tomé and Príncipe964 km2 (372 sq mi)190,428
26 Samoa*2,831 km2 (1,093 sq mi)196,628
27 Brunei5,765 km2 (2,226 sq mi)422,675
28 Vanuatu*12,189 km2 (4,706 sq mi)266,937
29 Bahamas13,880 km2 (5,359 sq mi)321,834
30 Belize22,966 km2 (8,867 sq mi)340,844
31 Iceland103,000 km2 (39,769 sq mi)317,351

*Active CBI schemes

Source: Wikipedia