At The Frugal Expat, money and mobility are not opposing goals. 

Weekly guidance on saving, investing, credit cards and frugal travel, shows readers that financial independence doesn’t mean giving up adventure. As remote work and global mobility expand, more budget‑conscious investors are asking whether a second passport could be part of their strategy.

A growing group of professionals uses Citizenship by Investment (CBI) to obtain an additional nationality in exchange for a qualifying investment. 

While “golden passports” often conjure images of ultra‑wealthy elites, some programs are surprisingly accessible, especially when compared to the cost of living in major cities or the expenses of maintaining a nomadic lifestyle. 

This guide examines how CBI works, compares costs and benefits across programs, and contrasts CBI with digital nomad visas using data‑driven insights.

To get the latest on every existent program and ever changing rules, it’s a bit overwhelming. But some dedicated firms do that work on a timely basis, for example, visit this always updated page from Global Citizen Solutions.

What Is Citizenship by Investment?

CBI programs allow individuals to secure citizenship through a substantial contribution—usually a donation, real‑estate purchase, venture‑capital investment or business creation. In return, investors and their families receive a second passport, visa‑free travel and access to healthcare and education systems. 

New generations of CBI programmes emphasise strategic sectors like technology and innovation. Countries such as Canada, Australia and Singapore use these schemes to attract entrepreneurs and foster startups.

From a frugal viewpoint, second passports can provide a Plan B in times of economic or political turbulence, reduce tax burdens and unlock cheaper travel across regions. However, entry thresholds and living costs vary widely. Choosing the right program requires looking beyond the headline investment to the everyday expenses and long‑term regulatory environment.

Comparing Program Costs and Living Expenses

The Caribbean is a hotspot for budget‑friendly CBI schemes. Many islands offer comparatively low investment thresholds and affordable living. Research indicates that a single person can live in Grenada, the Dominican Republic or St Lucia for around $650 per month (excluding rent). 

Even in Antigua & Barbuda, monthly expenses average about $577. The table below compares minimum investment requirements with estimated monthly living costs for popular CBI destinations.

Country	Minimum CBI Investment*	Estimated Monthly Living Cost (excl. rent)**	Unique Advantage
Antigua & Barbuda	$100,000 donation or $200–400K real estate	≈ $577	Family‑friendly: includes multiple dependants
Dominica	$200,000 donation or property	≈ $508	Low cost; no residency or language tests
Grenada	$235,000 donation or $270K real estate + $50K	≈ $533	E‑2 visa treaty with U.S.; visa‑free to China
St Kitts & Nevis	$250K donation or $400K property	≈ $702	Long‑standing program; speedy processing
Malta	€690K (mixed donation, real estate & fees)	Higher	EU residency; access to 188 countries

* Investment figures are minimums for principal applicants; additional fees apply.
** Living costs approximate 2025 expenses for one person, excluding rent.

Takeaway: 

For frugal investors, the Caribbean offers strong value. Grenada and Dominica let residents live on under $650 per month, while even St Kitts & Nevis remains far cheaper than cities like New York or London. When the investment is compared to property prices in those same nations (often under $300,000), the value proposition becomes clear.

The Digital Nomad Boom: A Numbers Game

Not everyone needs or wants a second passport. Digital nomad visas offer temporary residence in exchange for proof of remote income. These schemes have exploded as remote work becomes mainstream: a travel data agency estimates there are 40 million digital nomads worldwide, including 18 million Americans. Countries introduced these visas to attract skilled workers and boost tourism.

Who are digital nomads? Data from 2025 shows that 49 % of digital nomads are aged 30–39 and 61 % are American. Nearly one‑quarter travel with children. They are highly educated—52 % hold bachelor’s degrees and 35 % have master’s degrees. 

This cohort earns well; average annual income ranges from €58,000 to €128,000. Job satisfaction is high: 84 % report high satisfaction and 67 % say their quality of life improved.

Digital Nomad Visa Requirements and Costs

Digital nomad visas typically require proof of external income, health insurance and accommodation in the host country. Income thresholds vary: for Portugal, remote workers must earn €3,480 per month—far less than the €250,000 investment needed for a Golden Visa. 

The entry costs for digital nomad visas are modest compared with CBI programs. Average living expenses also differ significantly: living in Budapest costs about $3,263 per month, roughly half of the $6,100 needed in Houston.

Top Destinations and Emerging Players

Popular digital nomad hubs in 2025 include Portugal, Mexico, Germany, Brazil, and Thailand. The landscape is evolving: South Korea introduced a remote work visa in 2024, Brazil simplified its program and Italy digitalised applications. 

These changes highlight the growing competition among countries to attract mobile professionals.

CBI vs Digital Nomad Visas: Which Is Right for You?

Both options offer geographical freedom, but they differ in commitment, cost and permanence. The following table summarises key differences.

Aspect	Citizenship by Investment	Digital Nomad Visa
Purpose	Permanent citizenship and passport	Temporary residence (6–12 months, renewable)
Entry cost	Donation or investment (e.g., $100K–$250K)	Proof of monthly income (e.g., €3,480 for Portugal)
Benefits	Visa‑free travel, political security, tax optimisation, inheritance rights	Flexibility, low cost, ability to test locations, minimal commitment
Regulatory risks	Subject to global scrutiny and possible visa‑waiver suspensions	Changing rules but generally less controversial
Long‑term impact	Can pass citizenship to children; potential tax advantages	Does not grant permanent rights; no inheritance benefits

Regulatory environment: 

In mid‑2025 the European Union approved rules allowing visa‑free travel to be suspended for countries that operate passport‑by‑investment schemes without residency requirements. 

The U.S. State Department flagged several Caribbean nations for potential visa suspensions and urged reforms. These developments underscore the need for due diligence when selecting a program and may make digital nomad visas a safer interim option.

Innovation‑Focused CBI: Canada’s Start‑Up Visa and Beyond

CBI is evolving beyond passive capital. Programs like Canada’s Start‑Up Visa (SUV) require applicants to launch an innovative business and secure support from a designated organization. In 2024–2025 the SUV was updated to grant a three‑year open work permit, allowing entrepreneurs and their spouses to work anywhere while building their venture. 

The program now limits each designated organization to ten applications per year and prioritises technology‑focused businesses. Canada’s federal business immigration target has been reduced from 5,000 in 2024 to 2,000 in 2025, signalling a focus on quality. Applicants typically need about $200,000 in settlement funds and face a processing time of about 37 months with a success rate of 77.2 %.

These innovation‑oriented programmes echo trends in Australia and Singapore, where tech founders can access residency or citizenship by committing to high‑value industries. 

For frugal entrepreneurs, this means that building a business—not just donating capital—can lead to permanent residency.

Case Study: A Frugal Investor’s Plan B

Maria is a 35‑year‑old digital marketing consultant based in Lisbon. She follows The Frugal Expat to learn how to save and travel inexpensively. Recognising the high rents in Portugal, she spends a year in Medellín on a digital nomad visa. Her monthly costs drop from roughly €2,000 to about $1,000, enabling her to save aggressively. 

As global tax rules tighten and golden passport programs face scrutiny, Maria seeks a more permanent solution. She chooses St Kitts & Nevis and donates $250,000 to the Sustainable Island State Contribution fund. After two years of disciplined saving, she receives her second passport. Maria now enjoys visa‑free access to over 150 countries, pays no personal income tax, and continues to live part‑time in low‑cost destinations.

Checklist: Should You Consider Citizenship by Investment?

CBI isn’t for everyone. Use this checklist to gauge whether it makes sense for your frugal journey:

• Investment vs liquidity: Can you commit $100,000–$250,000 without jeopardising your emergency fund or retirement savings?
  
• Living costs: Does the host country’s cost of living allow you to rebuild savings quickly after the investment?
  
• Regulatory stability: Are the programs you’re considering subject to EU or U.S. sanctions? How strong is their due‑diligence process?
  
• Lifestyle fit: Do language, culture, climate and professional opportunities align with your goals?
  
• Plan B vs Plan A: Could a digital nomad visa provide the flexibility you need without the large upfront cost?
  

Combining Frugality and Global Mobility

For budget‑savvy investors, the road to financial independence can include both travel and strategic investments. Citizenship by Investment programs offer a permanent solution with long‑term benefits but come with higher upfront costs and regulatory risks. Digital nomad visas provide flexibility and affordability but lack permanence. 

By understanding the numbers—whether it’s $508 monthly costs in Dominica or €3,480 income requirements for Portugal’s nomad visa—investors can craft a mobility strategy that aligns with their budgets and values.