Understand the critical differences between residency and citizenship programs to make an informed decision about your global mobility strategy.
A Golden Visa grants you residency rights (the legal right to live and work in a country) in exchange for investment, typically with a pathway to citizenship after 5-10 years. Citizenship by Investment (CBI) grants you immediate citizenship and a passport without requiring prior residency. Golden Visas generally require investment amounts ranging from €250K-€800K depending on the country and location, while CBI programs cost $200K-$400K+ and deliver a second passport in 3-6 months.
Understanding the fundamental differences between the two pathways
Residency by Investment
Immediate Passport Acquisition
How Golden Visa and CBI programs differ across key criteria
| Feature | Golden Visa | Citizenship by Investment |
|---|---|---|
| What You Get | Residency permit (renewable) | Citizenship & passport (permanent) |
| Timeline to Result | 3-12 months for residency approval | 3-6 months for passport |
| Investment Amount | €250K - €800K (varies by country & location) | $200K - $400K+ (varies by program) |
| Physical Presence Required | Minimal to maintain visa (0-7 days/year); significant presence required for citizenship | None |
| Pathway to Citizenship | Yes, after 5-10 years residency | Immediate (you are a citizen) |
| Right to Live & Work | ✓ In host country | ✓ In host country |
| Visa-Free Travel | Limited (regional access like Schengen) | Full passport benefits (100+ countries) |
| Voting Rights | ✗ Not until citizenship | ✓ Immediate |
| Must Maintain Investment | Yes, typically 5-7 years | Yes, typically 3-5 years |
| Renewal Required | Yes, every 1-5 years | ✗ Citizenship is permanent |
| Family Inclusion | ✓ Spouse, children, sometimes parents | ✓ Spouse, children, sometimes parents |
| Tax Implications | Only if become tax resident (183+ days) | Varies by country (many have no tax on foreign income) |
| Language Requirements | None initially, may need for citizenship | None |
| Due Diligence Process | Standard background checks | More rigorous (higher scrutiny) |
| Best For | EU access, long-term planning, lower cost | Immediate mobility, tax optimization, speed |
Leading residency by investment programs worldwide
Explore all Golden Visa programs or use our Sovereign Simulator to find your best match.
Direct citizenship pathways through economic investment
Compare all residency and citizenship programs or learn about passport stacking strategies.
Choose based on your specific goals and circumstances
You want to live in a specific country (especially EU), prefer lower upfront investment, are planning for eventual citizenship, or want access to education/healthcare systems while maintaining flexibility.
You need immediate global mobility, want a second passport quickly, prioritize travel freedom over residency, or are focused on tax optimization and asset protection without relocation plans.
You want comprehensive global mobility. Many high-net-worth individuals pursue a "passport stacking" strategy: CBI for immediate mobility + Golden Visa for EU access and eventual EU citizenship.
Important factors beyond just cost and timeline
If you need mobility solutions immediately (within 3-6 months), CBI is your only option. Golden Visas take 3-12 months for initial residency approval, then 5-10 additional years for citizenship. However, if you have time to plan, the Golden Visa pathway often leads to more powerful passports (EU citizenship vs Caribbean CBI passports).
Golden Visas typically require investments ranging from €250K-€800K depending on the country and location, with options including investment funds and, in some countries, real estate. Note that Portugal's popular real estate route was eliminated in October 2023, with investment funds now the primary pathway. CBI programs start at $200K for Caribbean nations (raised from $100K following a 2024 agreement), often involving non-refundable donations, while Turkey requires $400K in property. Consider your investment horizon and whether you want your capital working for you or simply view it as the cost of mobility. Read our analysis of real estate vs fund investments.
If your goal is EU access, Golden Visa programs from Portugal (funds-based), Greece, or Malta are superior to CBI options. For Caribbean/Americas access or tax optimization, CBI programs from St. Kitts or Grenada may be better. For Middle East business hubs, consider the UAE Golden Visa.
Golden Visas don't automatically trigger tax residency (most require 0-7 days/year presence to maintain the visa), allowing you to maintain tax residency elsewhere. CBI programs vary—some offer territorial tax systems, others have no income tax. If tax optimization is your primary driver, consult our tax residency comparison and work with tax advisors to structure your residency properly.
Both programs typically include spouse and dependent children. However, Golden Visas often have more generous dependent age limits (up to 26) and may include parents/grandparents. Consider education access—EU Golden Visas grant access to European universities at local rates, while CBI passports may not provide the same educational benefits without actual residency.
If eventual citizenship is your goal, evaluate the final passport's power. EU passports (via Golden Visa → citizenship) rank among the world's strongest, while Caribbean CBI passports offer 140-156 visa-free countries but lack EU work rights. Portugal citizenship offers visa-free access to 187 countries vs St. Kitts at 156 countries. Check our Portugal citizenship updates.
CBI programs face increased scrutiny from international regulators. Some Caribbean programs have been flagged by the EU and may face travel restrictions. Golden Visa programs from established EU countries carry less reputational risk. However, they also come with more stringent ongoing compliance requirements. Consider how each program's reputation aligns with your professional and personal brand.
Several Golden Visa programs have closed or changed dramatically (UK, Ireland, Portugal real estate). CBI programs also face pressure—Caribbean nations agreed in 2024 to raise minimum investment thresholds, and some have tightened requirements further. Diversification across multiple programs may be prudent. Monitor our Intelligence Hub for regulatory updates and program changes.
Our advisors can analyze your specific situation and recommend the optimal strategy—whether Golden Visa, CBI, or a combination approach.