Without the land there is no nation.
Sero Khanzadyan
Island countries offering passports
There are many island countries in the world where one can get second citizenship from. Most of these countries offer citizenship by investment, which has stirred a lot of controversy in recent years. The following states are well known for providing preferential citizenship procedures:
- St. Kitts and Nevis
- Dominica
- Antigua and Barbuda
- St. Lucia
- Vanuatu
All of the above are magnificent countries with sunny climate and beautiful nature, located in the most exotic corners of the world. But there are even two island countries in the EU, where citizenship can be obtained, albeit much more difficult than in Bulgaria:
- Cyprus
- Malta
Looking at the list above, what is the first thing that springs to mind? Obviously, all of these otherwise beautiful countries are tiny island nations, located in the warm seas. The combined population of all of the above 8 countries amounts to less than one third of the population of Bulgaria.
From export of fruits to selling passports
In the old days, small island economies were counting mostly on tourism and fruit export. Selling olives, bananas, etc. was the main revenue for these countries to meet their budget needs. More recently, some of these countries started offering offshore financial services and wealth management arrangements to onshore clients. The latest trend was the investment citizenship programs, mostly provided against a non-refundable (significant) contribution to the state. Recently however, the investment citizenship programs were practically banned by the USA and the EU. This was done by means of legislative changes in the EU and by introducing visa regime to the non-EU countries, who maintained fast-track citizenship programs.
Not surprisingly, the initiatives of the island nations have never been to the liking of their older brothers – the onshore states. Globalisation virtually put an end to the lucrative fruit export. The fight against tax evasion closed virtually all offshore centres. Cyprus was forced to implement a haircut on its clients’ bank deposits during its financial crisis in 2012-2013. This was previously unseen in the civilised world.
Bulgaria – an onshore heaven for citizenship in the EU
As of 2024, Bulgaria is one of the only few EU onshore countries where one can obtain citizenship, relatively easy. So why is it better to get hold of a passport from a “real” landlocked state with real economy rather than an island paradise good for sun tanning and windsurfing? The main advantage is the security that the “real” country offers – political and influential in first place. But there is also a subjective point of view as well. For instance, how do you see yourself presenting your passport of Vanuatu, waiting at the Frankfurt airport? The German officer will have to first verify that such a country even exists. And then, if you don’t really look as “local from Vanuatu”, you will be subject to enhanced security measures.
Having an EU passport from a non-island country is the ultimate citizenship arrangement that anyone can dream of. And the citizenship of Bulgaria proves to be the most cost effective and sustainable one.