The Allure, and High Cost, of the 'Golden Visa': A Passport That Gets You (Almost) Anywhere

Citizenship or residency by investment, sometimes called a “golden visa,” is a program that exists in dozens of countries (including Canada, the US, Italy, Portugal, Malta, and many more). A golden visa is the ideal option for people who want to live in a different country, as well as for those who want to travel more freely. That was the case for Egyptian YouTuber Ammar from the channel Yes Theory, who in 2021 spent $150,000 to get citizenship from the Caribbean nation of St. Kits and Nevis. While St. Kits and Nevis passport holders can travel visa-free to 157 countries, Egyptian passport holders can only travel to 52 countries without the need to apply for a visa.

The investment can be in something tangible, like a business or property, or in something intangible, like investing in a country through government bonds. Although, the primary condition for a golden visa is how much dough you have and are ready to part with, the process of securing citizenship or residency by investment isn’t as easy as writing a check. Even if you’re rolling in cash, you need to go through an application process and meet some criteria. That’s where proper legal help from a government-recognized company like Immigrant Invest helps for acquiring a second passport or residency.

Immigrant Invest, which touts an impressive 99 percent golden visa success rate, can assist you in securing citizenship by investment in 12 different countries, and residency by investment in 29 countries, with each nation necessitating various requirements from applicants. The cost varies widely based on the country, complexity, and family size. Some can be acquired by an investment in the tens of thousands of dollars. Others call for millions.

Countries Immigrant Invest can help you get citizenship by investment:

• Malta
• St. Kitts & Nevis
• Grenada
• St. Lucia
• Antigua and Barbuda
• Dominica
• Vanuatu
• Turkey
• Egypt
• Paraguay
• North Macedonia
• Jordan

Countries Immigrant Invest can help you get residency by investment:

To understand the concept of citizenship or residency by investment and the opportunities available, I spoke with Elena Ruda, a shareholder and business development director at Immigrant Invest.

This interview has been edited for length and clarity.

Matador: What does investor immigration mean?

Elena Ruda: Investor immigration involves securing citizenship or residency by making significant economic contributions to a host country. This could be through investments in real estate, business ventures, or government bonds. Our role is to facilitate this process, ensuring all investments comply with the legal standards and due diligence required to protect both the client and the host country from financial improprieties.

What are the top three countries your clients look to gain residency or citizenship in?

Malta, Portugal, and Cyprus are frequently chosen by our clients because of their favorable investment climates, which include robust legal protections, strategic geographic locations, and advantageous tax policies. These countries also offer lifestyles considered highly desirable by international investors, which adds to their appeal.

What is the cheapest country for obtaining residency or citizenship via investment? What about the most expensive?

Vanuatu offers one of the most cost-effective citizenship programs. The reason: it is a small, wonderful country, which needs investments in the economy, as well as highly qualified new citizens who can invest in the local economy and strategic social projects of the government.

One of the most expensive is Malta. This country is also considering investments in the local economy via the respective residence by investment program, which could lead eligible investors to gain citizenship. The process is not easy and requires full commitment, transparency, and successful business, which resulted in a clear source of funds, which could be further invested within the program.

Which country has the most complicated process? What about the simplest?

Among the countries we work with, Malta presents the most complex process for fulfilling the requirements, involving stringent due diligence checks and comprehensive documentation requirements.

Conversely, Caribbean nations and Vanuatu offer more streamlined processes, typically requiring less bureaucratic involvement and facilitating quicker outcomes for investors. These differences reflect the varying legal frameworks and government policies related to investment migration.

Some countries are listed as unavailable. Do these programs change often?

Some of the citizenship by investment programs listed as “unavailable” on our website, such as those of Cyprus, Montenegro, and Bulgaria, have been discontinued. These programs were halted due to various reasons including changes in national policy and shifts in the geopolitical climate. We continuously monitor and update our offerings to reflect the current status of global investment migration programs, ensuring that we provide our clients with accurate and actionable information.

Can anyone with the appropriate funds apply or are there specific requirements for each country?

Financial capability is crucial, but other factors such as a clean criminal record, health checks, and sometimes language proficiency or cultural knowledge tests are also required, depending on the destination country’s immigration policies.

Why do the countries that offer investment programs gain?

Countries engage in citizenship-by-investment programs to attract foreign direct investment that boosts economic growth, supports public projects, and enhances local development. These initiatives are beneficial for both the host countries and the investors, providing substantial mutual economic and social benefits.