Botswana is weighing a “golden passport” program that would grant citizenship to foreigners making a one-off investment of up to about $100,000, as the country searches for fresh revenue streams, the Financial Times reported.

The proposed scheme would place Botswana among a growing roster of jurisdictions offering citizenship-for-cash, alongside countries such as St Lucia, Malta and Grenada, the FT said. The report also noted that US President Donald Trump announced a $5 million “gold card” in 2025 that would offer residency.

Botswana’s push comes as the government confronts the fiscal and economic strain created by a slump in the natural-diamond market. 

The country, home to De Beers’ flagship mine, has used diamond production to transform itself from one of the world’s poorest nations into one of Africa’s richest, the FT reported. Diamonds account for about a third of Botswana’s GDP and nearly all foreign export earnings, the news outlet said.

But the contraction in diamond demand has forced officials to look for alternatives. The FT cited the International Monetary Fund as expecting the slowdown to contribute to a 1% economic contraction in 2025, increasing pressure on state finances.

Legislation authorizing the “golden passport” still needs parliamentary approval, with a vote expected in early 2026, the FT reported.

The plan revives long-running concerns about the dark side of “golden passport” programs. Critics argue they can create pathways for corruption, tax evasion and money laundering. 

In May 2025, the European Court of Justice struck down Malta’s citizenship-by-investment program, saying it had turned nationality into “a mere commercial transaction,” the Financial Times said. 

Armand Arton, chief executive of Arton Capital, told the news outlet that he had warned officials that Botswana’s capacity to verify passport data would be inadequate to prevent abuse, and recommended two UK-based firms to assist with due diligence. 

Read more at the Financial Times

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