Nauru, a small Pacific island nation facing rising sea levels, has launched a citizenship-by-investment programme that allows foreigners to obtain a passport in exchange for a financial contribution, with proceeds aimed at funding climate adaptation projects.
The scheme, known as the “golden passport” programme, was introduced early last year as the country seeks funding for a major relocation plan that involves moving 90 percent of families and infrastructure to higher ground.
The programme adds to a growing global citizenship-by-investment market that has attracted wealthy individuals seeking second citizenship for business, travel and investment purposes.
Applicants from African countries, including Nigeria, Egypt, Kenya and South Africa, have explored such options as they seek easier access to international markets and business opportunities.
The trend is also visible in the Caribbean, where several countries operate citizenship-by-investment programmes that attract applicants from around the world.
