Buying a Passport Online: Inside the CBI Market

Ever seen a website where you can browse passports like ETFs? CitizenX is a venture-backed platform that lets high net worth individuals purchase citizenship-by-investment (CBI) from countries like Dominica, Malta, and St. Kitts — with prices listed in fiat and crypto. In this episode, we explore the $25 billion global CBI market: who's buying (Chinese tech entrepreneurs, Russian oligarchs, Middle Eastern investors), why they're buying (geopolitical insurance, tax optimization, visa-free travel), and where the due diligence falls apart. We break down the difference between citizenship-by-investment and golden visas, trace the origin story back to St. Kitts in 1984, and grapple with the philosophical question: what does it mean when belonging has a price tag?