Only a very few countries offer a passport for buying government debt in the form of treasury bills, bonds, securities and certificates.  Turkey and St Lucia offer citizenship in exchange for investment  treasury bonds for USD 250,000 (Limited offer)

Governments issue public debt in the form of bonds issued to citizens, international investors and companies.

A T-Bill is a short term debt instrument valid for less than a year, while T-Bonds are long term debt instruments valid over 5 years to 10 years. A government security is a bond issued by a government with a promise of repayment at maturity. These come with fixed interest rates payable at maturity.

Direct fast track citizenship and passport is possible for buyers of Government debt in the form of bonds without interest with 5 year holding period.

Citizenship by Investment

These countries offer citizenship for treasury bonds.  Passport and citizenship approved within 3-4 months.

Citizenship by Investment Government bonds/securities
Cyprus No (€2 million – Govt bonds removed from 15th May 2019)
St Kitts and Nevis No
Dominica No
Grenada No
St Lucia USD 250,000 Covid Govt bonds interest free Covid-19 bonds (fully refundable)
Vanuatu No
Turkey Yes (USD 500,000 Govt bonds or treasury securities)
North Macedonia EUR 400,000 (securities and bonds)
Bulgaria EUR 1 million (Govt Bonds/securities removed from March 2021)
Jordan USD 1.5 million (Treasury securities)

T-Bill – Treasury bill
T-Bond – Treasury Bond

Golden visa

These countries offer instant residence rights or golden visa in exchange for investment in government securities, bonds and bills. Residence visa approved within 3-4 months.

RBI/Golden visa Govt bonds
Spain €2m
Portugal €1m
Italy €2m
Luxembourg €500,000 (Bonds)
Bermuda USD 2.5 million (Govt bonds)
Canada $1.2m Quebec IIP
United Kingdom £2m closed from May 29, 2019. Only private/corporate bonds possible.
Ireland €1m
Greece €400,000
Bulgaria €512,000
Latvia 250,000 (interest free)
Malta €250,000 interest free – removed from Mar 29, 2021
Australia AU$ 1.5m
New Zealand NZ$ 3m