A new contender has entered the ring for the cheapest citizenship by investment program on the planet, and today, we’re diving into all the details—how it compares to others, and whether it’s actually worth it. A few months ago, I was in Egypt, talking about the rise of new citizenship options, including the recently launched program in the South Pacific nation of Nauru. This post isn’t about Nauru specifically, but it is where the story begins.
Back then, Nauru had just launched its program with a headline price of $15,000. But once you included all the fees, the true cost was about $140,500—still the most affordable option out there at the time. But now, there’s a new record-holder, and it beats Nauru’s price by just $500. Yes, there’s a new cheapest option on the market, and it comes from a surprising place: Sierra Leone.
What Is Citizenship by Investment?
If you’re not familiar, citizenship by investment (CBI) is exactly what it sounds like—you make an investment (or a donation) to a country in exchange for a second passport. Some countries offer real estate investment programs (like Egypt and Turkey), others go with government bonds (like Jordan), but the most common—and often simplest—form is a donation to a government development fund. These are the programs that get you a passport in as little as 3 to 12 months.
These second passports can help you reduce your tax burden, open up new travel options, and offer a stronger global profile. For example, if you’re American and want to travel without being identified as such, a second passport offers flexibility and peace of mind—without moving, learning a new language, or waiting years.
Nauru: The (Former) Cheapest Option
Let’s go back to Nauru. When they launched their program in late 2024, they came out swinging with a price tag of $15,000. But once all fees were added, the true all-in cost was $140,500.
That was still cheaper than anything in the Caribbean. The five Eastern Caribbean nations—St. Lucia, Grenada, St. Kitts and Nevis, Antigua and Barbuda, and Dominica—have long dominated the CBI scene. Recently, they all agreed to set a new minimum investment of $200,000, plus fees. That means the actual cost often pushes past $240,000.
Unlike many firms that hide the full cost behind “starting from” prices, Nomad Capitalist offers complete transparency. We break down every fee, every form, and every document required. No surprises—just real numbers.
Sierra Leone: The New Budget Leader
Enter Sierra Leone, the new player on the scene. Their fast-track passport program comes in at $140,000 all-in—exactly $500 cheaper than Nauru. While it’s not officially labeled a “citizenship by investment” program, the structure is the same: pay the price, get the passport.
Just like Nauru, the $140,000 covers due diligence, passport fees, and all paperwork. But here’s the kicker—what do you get for your money?
Comparing Travel Power: Sierra Leone vs Nauru
Here’s where Sierra Leone starts to fall behind. The visa-free access is extremely limited. You’re basically looking at:
- West African countries
- A few Caribbean nations
- Ecuador
- India (with an e-visa)
- Malaysia (which has generous visa policies)
- Singapore and a few Southeast Asian countries
The problem is, even if a place like Ecuador says you’re welcome, getting there is another story. You’ll likely have to transit through European airports, which could require a visa just for passing through if you’re holding a Sierra Leonean passport.
So really, your visa-free travel is limited to West Africa, Malaysia, and a handful of scattered countries. Not ideal if you’re looking to expand your global mobility.
What About Nauru?
Nauru doesn’t offer visa-free travel to West Africa—but it does give you access to:
- Parts of Southeast Asia
- Russia
- Eastern European countries
- Some Caribbean nations
- The UAE (visa-free)
It’s still not a powerful passport, but it’s more globally practical than Sierra Leone’s. If you’re someone doing business across Africa, Sierra Leone might make sense. But for the average investor looking for a second passport to enhance mobility, Nauru wins.
What’s the Real Value?
Let’s be honest—$140,000 for limited travel rights isn’t the value it used to be. When I got my St. Lucia citizenship years ago, it cost me $100,000, and that passport gets me into:
- Europe’s Schengen zone
- The UK and Ireland
- Most of Latin America
- Much of Southeast Asia
Yes, there are a few countries an American or German can visit that a St. Lucian passport can’t, but that’s why I have multiple passports—they complement each other. The value for money was clear.
Sierra Leone, by comparison, offers far fewer destinations and costs more than what I paid for St. Lucia. And while there’s a niche case for African entrepreneurs, most people aren’t served by that.
What About Egypt?
Now here’s where it gets interesting again. Egypt’s program may not offer a much better passport than Sierra Leone’s, but at least people have heard of it. There’s a different perception, and you get something tangible: real estate.
For $300,000 in property and about $10,000 in government fees, you could potentially get your money back—or even profit—if you buy in the right neighborhood. That’s where we at Nomad Capitalist can help. We’re actively helping clients navigate the Egyptian market, vet properties, and avoid scams.
So when you compare Sierra Leone’s $140,000 donation to a potentially recoverable $300,000 investment in Egypt, the scales start to tip.
Where Is It All Heading?
When Caribbean CBIs were $100,000 and Turkey’s real estate option was $400,000, the decision was simple. But prices are rising fast. That $100,000 entry point is disappearing, and we’re entering a world where even the lowest-tier passports cost $140,000+.
Years ago, I remember the Comoros Islands offered citizenship for $45,000. Now that’s the kind of price point that made sense for an “extreme Plan C.” Sierra Leone is three times that amount, with limited mobility and a poor international reputation. (Just look at how people reacted to our Sierra Leone residence permit video.)
If you’re going to spend this kind of money, why not go for a passport with real international utility?
Final Thoughts
Yes, Sierra Leone now offers the cheapest citizenship by investment program on the planet—$140,000 all-in. But when you stack that against the value of what you’re getting, it becomes clear: cheap doesn’t always mean good.
If you want something solid, that opens real doors, you’ll probably need to spend more. But if you’re looking for something ultra-niche, for Africa-specific business, or just want to have that rare “Plan D” in your back pocket—Sierra Leone might be for you.
But don’t wait too long. Prices are rising. And like I said when I got St. Lucia’s passport—get in early, or you’ll pay the price later.
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