Citizenship by Investment and Golden Visa

What Does CBI Mean?

Under Citizenship by Investment (CBI), qualifying foreign applicants may obtain nationality after meeting the financial requirement set by the relevant jurisdiction.

Depending on the country, it might take the form of a state payment, qualifying property, fund participation, or another option permitted under local law.

CBI works differently from ordinary naturalization. Foreign applicants use a procedure set by the country’s own law and have to satisfy the conditions that apply to that case. Authorities normally review identity, background, details, and the origin of funds before making a decision.

The needed step also has to be completed in the prescribed form. Rules aren’t identical from one state to another, and approval remains a matter for the competent public body.

CBI vs Golden Visa

Choice between citizenship by investment and a Golden Visa depends on the applicant’s objective – nationality, residence, relocation, family mobility, or eventual naturalization.

Türkiye and several Caribbean CBI jurisdictions continue granting a second passport by investment. Those seeking residence can instead look at Cyprus, Portugal, Greece, Hungary, the UAE, New Zealand, or the US.

An investment migration plan should take into account legal status, overall cost, residence conditions, family eligibility, and due diligence.

Popular Citizenship by Investment Destinations

Direct citizenship routes remain open to applicants in Türkiye and the Caribbean.

Caribbean Citizenship by Investment

These programs operate in Dominica, Grenada, Antigua and Barbuda, and St. Kitts and Nevis. These jurisdictions are often chosen by families seeking a second passport, dependant inclusion, and limited stay commitments.
See our guides to Antigua and Barbuda and Grenada.

Turkey Citizenship by Investment

Türkiye remains one of the main non-Caribbean citizenship investment programs. Real estate from USD 400,000 might be considered as qualified, with resale generally restricted for three years.
Other options may involve bank deposits, securities, funds, or qualifying business-assets.
For applicants interested in citizenship by investment real estate, Türkiye offers citizenship directly.

Residence by Investment and Golden Visa in Europe

Across Europe, mostly, investor schemes are granting residence first rather than citizenship.

Portugal Golden Visa

Portugal still operates its ARI scheme.
Accepted options include certain funds, scientific research, cultural support, job creation, and qualifying corporate structures.
Property purchases no longer qualify as per ARI.

Greece Golden Visa

Greece remains a major European residence destination. Golden Visa gives residence rather than Greek citizenship from the outset.

Cyprus Permanent Residence

Direct citizenship by investment isn’t now available there. Regulation 6(2) instead provides an expedited permanent residence route. Cyprus is therefore a residence-by-investment jurisdiction, not a country currently offering a passport in return for capital placement.

Best Citizenship by Investment Programs

There is no universal best citizenship by investment program. The best citizenship by investment countries depend on several factors:

• budget;
• family composition;
• applicant’s citizenship;
• preferred pathway;
• conditions for staying;
• due diligence background;
• business and mobility goals.

Entrepreneurs and Families

Under citizenship by investment for families, main applicant can often add a spouse, children, and, where permitted, other dependents.

For citizenship by investment for entrepreneurs, any application may be part of wider planning covering residence, cross-border tax, banking, business, and personal mobility.

Some jurisdictions permit citizenship by investment without residency, although interviews, visits, or some case-specific conditions may still apply.

Citizenship status and tax residency schemes are separate matters and should be reviewed independently.

Other European Investor Residence Routes

Hungary Guest Investor Program

Hungary offers several qualifying routes under its Guest Investor Program. They provide residence, but not direct second citizenship by investment.

Spain Golden Visa

Spain ended its investor residence regime on 3 April 2025. As a result, the jurisdiction no longer has an active Golden Visa scheme in 2026.

Golden Visa Programs Outside Europe

Outside Europe, investors can find a range of routes.

UAE Golden Visa is aimed at long-term residence, while US EB-5 route leads to permanent residence.

New Zealand’s Active Investor Plus Visa is another option for investors looking for residence.

Cheapest and Fastest Citizenship by Investment

Cheapest citizenship by investment cannot be judged by the advertised amount alone. Administrative charges, dependent fees, due diligence, and professional costs may considerably change the final figure.

There is also no fixed fastest citizenship by investment option. Timing depends on the jurisdiction, official review, and the applicant’s circumstances, so published estimates are not guarantees.

How Eternity Law International Helps

Eternity Law International provides citizenship by investment services for families, entrepreneurs, and individuals looking for international mobility solutions.

Our work may include:

• reviewing countries offering citizenship by investment;
• comparing CBI, Golden Visa, and residence routes;
• checking eligibility and available pathways;
• preparing source-of-funds and due diligence files;
• structuring family cases;
• coordinating property, fund, documentation, and local-agent matters;
• assistance with a citizenship application by investment.

Citizenship by investment consultant is helping to compare available jurisdictions, while a citizenship by investment lawyer handles legal structuring, documents, and regulatory compliance.

For nationality-related matters, see our Citizenship in Ukraine service.

How to Get Citizenship by Investment

Anyone researching this option first needs to get a detailed look at the available schemes and check eligibility before committing money.
The usual stages are:

• reviewing available CBI and Golden Visa alternatives;
• confirming qualification, choosing the appropriate pathway, and gathering proof of source of funds (if needed);
• assembling and legalizing the required documents;
• lodging the application with the relevant authority;
• completing the government due diligence review;
• receiving approval;
• completing the needed financial commitment;
• receiving citizenship (if applicable); passport applied for.

Citizenship by investment donation means making a non-refundable government payment, while property and some asset-based routes might need a set holding time.

Citizenship by Investment Cost and Rules

The total payable varies by jurisdiction, chosen route, and family composition.

Citizenship by investment minimum investment might take the form of:

• a public-sector contribution;
• eligible real estate;
• participation in an approved fund;
• funds placed with a bank or eligible securities;
• capital allocated to an approved business.

Typical citizenship by investment requirements cover a clear criminal history, lawful sources of funds/wealth, valid ID and civil-status documents, and background checks.
Investment alone isn’t enough.

FAQ

How does citizenship by investment work?

With this we mean that someone who meets the criteria might acquire nationality if they complete the approved financial requirement and comply with the applicable rules.

Which CBI options are worth considering in 2026?

The best citizenship by investment programs in 2026 may be different depending on budget, family circumstances, mobility goals, citizenship held and preferred form of participation.

What costs should an applicant expect?

There is no standard total. The final amount could depend on the capital commitment needed, state fees, processing costs, due diligence and professional costs as well.

Which option has the lowest overall cost?

The advertised minimum doesn’t always reflect the full cost. Cheapest citizenship by investment will depend on family make-up and additional charges applied to the chosen route.

How quickly can the process be completed?

No time frame is guaranteed. Even the fastest option may take longer if official screening, background review or case-specific checks need more time.

Can property qualify for citizenship?

Yes. Türkiye and some Caribbean countries allow eligible real estate to be bases for application.

Is relocation always needed?

No. There are options without residency in some jurisdictions but visits, interviews or other conditions may still apply.

Which documents are usually requested?

Common documentation is passports, police records, civil-status certificates, financial evidence and proof of the lawful origin of funds.

How does CBI differ from a Golden Visa?

CBI leads to citizenship once the conditions are met. Golden Visa usually provides residence first and naturalization later (if at all).