How many passports do you have? Today, it’s not only international men and women of mystery who can boast a healthy selection.
Instead, more people are signing up for programmes that, in some cases, can lead to citizenship and a brand new passport.
How about becoming a citizen of Antigua or St Lucia? Closer to home, why not get residency in Malta, Greece or Portugal?
Over 100 countries worldwide offer some version of residency or citizenship say Henley & Partners, experts in the field.
An apartment in Sliema, Malta, is for sale for €890,000 through Frank Salt
Frank Salt
Some programmes are dependent on a financial investment, some require a property purchase, and the potential benefits are wide-ranging: improved quality of life, greater global access, access to better education and a more favourable tax regime.
“In investment migration, citizenship and residency are often mixed up,” says Julian Walker, managing director of real estate agency Spot Blue.
“Each represents different concepts with distinct outcomes, timelines and strategic implications.
“Citizenship by Investment (CBI) means making an economic contribution, a donation or property investment, to obtain full citizenship directly.
“This is permanent and can be passed down, Residency by Investment (RBI), referred to as Golden Visas, permit applicants to live, work and study in a country through a resident permit. This might eventually lead to citizenship but not directly.”
Walker says that typically, CBI programmes are processed in three to nine months whereas the journey from RBI to naturalisation – and therefore a passport — takes five to 12 years, sometimes longer.
“The first CBI programme was launched in the Caribbean island of St Kitts in 1984 where, today, if you donate US$250,000 or buy an approved property for at least US$325,000, you get visa-free access to over 150 countries worldwide,” he adds.
“The Caribbean island of St Lucia, Grenada, Dominica and Antigua & Barbuda also operate their own investment programmes.”
International property consultancy Astons says online searches for these programmes grew by up to 378 per cent in 2025, with a notable increase leading up to November’s Budget.
Savills
The biggest year-on-year increase was for Italy’s programme, requiring an investment in Italian government bonds, a start-up or a company of at least €250,000 and excluding property purchases, but overall, it was Greece that got most hits.
“The minimum investment required for a Greek Golden Visa starts at €250,000 so long as it is invested in commercial real estate that is then converted to residential, making it one of the most accessible RBI routes in Europe,” says Suzanna Uzakova, senior consultant for residency and citizenship programmes at Astons.
“Additionally, Greece’s Non-Dom regime offers major tax advantages. Instead of being subject to standard progressive income tax rates of up to 45 per cent, eligible individuals can opt to pay a flat annual tax of just £100,000, regardless of the source of their global income.”
More affordable golden visas
While that might be on the radar of only the wealthiest relocators, there are more affordable routes.
In São Tomé and Príncipe off the coast of West Africa, costs start from US$90,000 and there’s no requirement to visit to acquire citizenship.
In the Caribbean, Dominica asks for a minimum contribution of US$200,000 to its Economic Diversification Fund but in return offers visa-free travel to a wider number of countries, 137 compared with 93 for São Tomé and Príncipe.
Some programmes have faced heavy criticism, accused of effectively selling passports to the wealthy, and for pricing local residents out of the property market.
Inside a home at Elmsbridge Antigua where beachfront homes start at US$300,000
Elmsbridge
Spain issued over 22,000 Golden Visas between 2013 and early 2025, giving residency and the right to live, work and study there for a property purchase of €500,000, before pressure from the public and the EU led them to close the scheme in April 2025.
Portugal eliminated the property element from their schemes in 2023 while Ireland, Malta and Montenegro have all closed their programmes in the past five years, these three under pressure from the EU.
Cyprus’ CBI programme was abolished after the island was shown to have given passports to known international criminals, but still operates an RBI programme with an eventual route to citizenship, granting residency to non-EU passport holders for a minimum €300,000 investment in property.
Immigration advisory company Global Citizen Solutions (GCS) analyses programmes across 35 countries, ranking them against lengthy criteria including tax optimisation, quality of life, minimum investment required, security, costs and average processing time.
The five Caribbean nations topped its most recent CBI list, headed by Antigua and Barbuda, while the first five in the RBI list were Greece, followed in turn by Malta, Switzerland, Luxembourg and Portugal.
This confirms GCS data showing most CBI programmes are concentrated in small island economies while RBI programmes are most common in higher-income jurisdictions.
“We see a mixture of ages interested in these programmes with Portugal, Cyprus the UAE and Turkey all of interest,” says Walker.
“Whereas in the past clients were mainly interested in holiday homes, today there is a significant number who are still working and looking to relocate.”
Kaline and Brian Dobbin from Dorset applied for citizenship by investment in Antigua
Supplied
Antigua’s highly rated Citizenship by Investment is available for an investment of US$230,000 or more in an approved government programme, or for a property purchase of at least US$300,000.
Kaline Dobbin from Dorset and her husband Brian applied for citizenship by investment in Antigua looking for flexibility and longer-term resilience in how and where they lived.
“For us, citizenship wasn’t about escaping somewhere, but about creating options and stability for the longer term,” says Kaline, 48.
“What truly convinced us though was the lifestyle. Antigua offers a rare mix of natural beauty, community and day-to-day ease. It’s a place where you can work hard and stay internationally connected while still enjoying a more balanced, family-focused way of living.”
The couple now develop high-quality residential villas on the island through their company Elmsbridge, with the flexibility of Antigua’s CBI programme’s attracting over 90 per cent of their buyers to apply.
“The citizenship process itself is structures and transparent, with proper due diligence throughout,” says Kal.
“As the programme continues to evolve, I expect residency expectations to increase and entry thresholds to rise, reflecting both demand and Antigua’s growing confidence in what it offers.”
Villas for sale in Akyol near Bodrum have private pools and access to a nearby private beach
Spot Blue
Turkey’s CBI programme is available with a property purchase of at least US$400,000.
Applicants do not need to spend time in Turkey but must hold the property for at least three years.
A house on Gozo in Malta for sale for €438,000 through Frank Salt
Frank Salt
Malta’s Permanent Residence Programme gives residency by a number of routes including a property purchase of at least €375,000 or an annual lease of at least €10,000 for five years.
Meanwhile a House of Character (the Maltese term for an older property) with beautiful stone walls, in Kerćem on the island of Gozo, with three bedrooms and newly fitted kitchen and bathrooms, is for sale fully furnished for €438,000.
A new development of studios and apartments in Athens is due to be completed later this year
Savills
Greece’s Golden Visa is available for an investment of €250,000 for development and renovation property projects and from €400,000 to €800,000 (depending on location) for residential homes.
There is no requirement to reside in Greece and holders can apply for citizenship after seven years of residency.
Discussion about this post