How long does Citizenship by Investment take 2024

The Caribbean’s citizenship by investment (CBI) programmes offer some of the quickest routes to acquiring a second passport. While processing times can vary due to several factors, La Vida has explored a decade of our own unique data insights to provide prospective investors with a clearer understanding of what to expect. One of the reasons for the CBI price increases earlier this year was to manage the surge in demand for these programmes. Leading up to this adjustment, applications skyrocketed as many rushed to secure their second citizenship before costs rose, resulting in temporary backlogs. However, with the new pricing structures, demand has begun to stabilize, making these programs more exclusive and eventually, less clogged with applicants. La Vida’s recent analysis indicates an improvement in processing timelines, and we anticipate further enhancements in 2025 as Citizenship Investment Units (CIUs) clear their backlogs and expedite processing for new applicants. It’s worth noting that CIUs are continuously modernising their operations. Both Grenada and St Lucia are now fully digital, streamlining the application process and reducing the need for physical documentation. Below we have used our own data to breakdown each step and the average time-frames to expect.

Step One: Preparing Your Application 

Before submitting an application to the selected country’s citizenship by investment programme, applicants need to gather all required documents, with some items requiring certification and notarisation. La Vida’s experienced team provides comprehensive support at every step, guiding applicants through the process to ensure a thorough, accurate submission. To enhance this experience, La Vida offers a secure client portal where applicants can conveniently upload all their documents in one place. The timing of this stage largely depends on the applicant’s preparedness. For single applicants with all documents readily available, this phase may take only a few days or weeks. However, if certain documents need to be sourced or renewed, it could extend the timeline. On average, applicants typically take around 4-6 weeks to complete this stage.

Step Two: Submission to Approval Time-frame

After La Vida’s specialists assist in compiling your application and completing the required forms, we conduct an internal review to confirm all elements are in place. Once verified, we submit the application to the relevant Citizenship by Investment Unit (CIU). Occasionally, the CIU may request additional documents to support the application, which could add time to the process. For 2024, average timelines from submission to approval are as follows:

Quickest Submission to approval:

We have seen impressively swift processing times for clients who have all documents readily available. This often begins with highly organised applicants who may have experienced  a similar application process before. In the past 12 months, the quickest processing times we’ve encountered include:

Step 3: approval to Passport Delivery Time-frame

At this stage, some delays can occur. While the approval of the citizenship by investment application marks a major milestone, the final investment and passport issuance steps are still pending. International banking clearance can occasionally take time due to the banks AML policies, with transfer times varying based on the country of origin. La Vida and our local partners maintain close connections with local banks to facilitate this stage, but ultimately, this part of the process is very much in the hands of the banks. Once the funds have been cleared the final passport application can take between 2 – 6 weeks, depending on the country. Currently Dominica, Grenada and St Kitts are processing passports as quickly as 1-2 weeks.

Citizenship Timeline from Start to Finish

In summary, 2024 processing times for citizenship by investment applications have been variable, impacted by factors such as the application’s complexity, the applicant’s country of origin, and the promptness in providing documents. La Vida’s data highlights that, with efficient responses at each stage, applicants can generally expect the entire process to take between 7-12 months. If you take the data from steps two and three, the overall average time-frames for citizenship by investment in each country are as follows:

Although this may seem higher than several years ago, in today’s market, this is still considered a very competitive timeframe. Some of the European residency by investment programmes take just as long, or longer, so in comparison, these CBI programmes remain an attractive option for investors seeking expedited access to second citizenship, especially when considering the potential benefits of enhanced global mobility and security. Each application is unique, and La Vida is here to navigate these intricacies, ensuring a seamless journey to citizenship.

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