Residency-by-investment programs offer far more than a second address. They offer flexibility, security, and perhaps the ultimate luxury: choice.
A luxury property portfolio might span continents, a yacht can change ports with the seasons, and a private jet crosses borders in a matter of hours. For many internationally minded families, geography has long been a form of diversification – but increasingly, residency is becoming part of that portfolio, too.
Residency-by-investment programs that grant the right to live in a country in exchange for a qualifying financial commitment, or so-called ‘golden visas’, have become one of the most talked-about corners of global mobility. They offer access to some of the world’s most desirable destinations, from the Mediterranean coastline to the heart of Asia‘s financial capitals. And despite increasing political scrutiny, demand remains remarkably resilient.
See also: Where to Buy Luxury Real Estate in 2026
What are golden visas?
At their simplest, golden visas allow applicants to secure residency rights through investment rather than employment, family sponsorship, or entrepreneurship.
Requirements vary considerably. Some programs require investments into government-approved funds, others focus on business investment, while a handful remain linked to real estate. In return, successful applicants receive residency rights and, in some cases, a pathway toward citizenship.
They should not be confused with so-called golden passports, which provide citizenship directly or through an accelerated route. Residency and citizenship are very different propositions; one grants the right to live in a country, the other confers nationality itself.
Why are they popular?
Motivations for golden visas are as varied as the destinations on offer. For some, residency is simply about flexibility. For others, it is access to education, healthcare, lifestyle, or favorable tax regimes.
«Some individuals from politically unstable jurisdictions want a second citizenship and a passport that will allow them to travel in case of any political issues with the current regime in their countries,» says Matt Ingham, partner at Payne Hicks Beach who specializes in immigration law. «It is essentially viewed as an insurance product and a ‘Plan B.’»
Demand has shifted noticeably over the past five years. Ingham points to continued interest in Portugal, Italy, and Greece, particularly among applicants relocating from the Gulf region, while Monaco increasingly attracts younger entrepreneurs and families alongside its traditional old-money residents.
What countries have golden visas, and which are the most expensive?
Singapore
When it comes to investment thresholds, Singapore sits firmly at the top of the market. The country’s Global Investor Programme requires either a minimum investment of S$10m (approx. $7.8m) into a new or existing business, or an investment of S$25m (approx. $19.6m) in one of the GIP-approved funds.
It is one of the most expensive residency-by-investment routes currently available, but the attraction, however, extends well beyond the numbers. Political stability, world-class infrastructure, a sophisticated financial ecosystem, and its position as Asia’s business gateway continue to make Singapore one of the most coveted addresses in the region.
New Zealand
In February 2026, New Zealand relaxed its golden visa policies, lowering the eligibility threshold and offering new investment categories for its Active Investor Plus Visa. That said, the new criteria are still among the most expensive in the world, offering a Growth Category: NZ$5m (approx. $2.9m) over three years in high-risk investments; or the Balanced Category of NZ$10m (approx. $5.8m) over five years, allowing a mix of property, bonds, and shares.
Monaco
While the Principality does not operate a formal golden visa program, residency remains among the most exclusive options available. Applicants are typically expected to demonstrate substantial assets, including depositing a minimum of €500,000 (approx. $580,460) in a Monaco bank account, and have secured accommodation within the Principality, where property prices are among the highest in the world.
When asked which would be his golden visa of choice, «if cost were no object,» says Ingham, «Monaco – for the tax, the location, the weather, security, discreetness, and an efficient application process.»
Switzerland
Like Monaco, Switzerland‘s appeal is rooted less in a formal visa scheme and more in a carefully structured residency framework. For non-EU nationals, residency can be obtained through lump-sum taxation arrangements, which can amount to hundreds of thousands of dollars annually.
There is also the Swiss entrepreneurial investor scheme, where an individual agrees to a predetermined annual tax, usually starting at around CHF 200,000 (approx. $252,300), but can escalate to CHF 600,000 (approx. $756,800) per year, depending on the canton – although this arrangement prohibits employment; or the Swiss Entrepreneurial Investor Scheme, where individuals are obliged to establish a new company, or to inject capital into an existing Swiss business. With this route, the annual minimum business investment requirement is typically a minimum of CHF 1m (approx. $1.3m).
Mauritius
In May 2026, the Indian Ocean island nation announced it would offer 100 golden visas annually for applicants who invest at least $1m in industries such as financial technology, global treasury, artificial intelligence, biotechnology, and renewable energy.
See more: Mauritius Wants Millionaires: What To Know Before Moving
Which golden visas are the most accessible?
Among European Union options, Portugal and Italy continue to dominate conversations. Portugal’s Golden Visa now requires a minimum €500,000 (approx. $580,400) investment into qualifying funds following the removal of the property route, while Italy’s Investor Visa ranges from €250,000 (approx. $290,170) invested into innovative startups to €2m (approx. $2.3m) in government bonds.
Neither is exactly inexpensive, but both offer something increasingly valuable: access to Europe and the Schengen Area alongside attractive lifestyles, strong infrastructure, and established legal frameworks.
At the more attainable end of the spectrum sits Greece, whose residency-by-investment program remains one of Europe’s most popular entry points. Investment thresholds begin at €250,000 (approx. $290,170) for certain redevelopment and commercial-to-residential conversion projects, rising to €400,000 (approx. $464,300) across much of the country and €800,000 (approx. $928,500) in sought-after destinations such as Athens, Mykonos, and Santorini.
Elsewhere, Caribbean citizenship-by-investment programs continue to attract attention by offering passports rather than residency permits. In Dominica, citizenship can be obtained through a government contribution starting at around $200,000 for a single applicant, while Antigua and Barbuda, Grenada, and St Kitts and Nevis offer similar routes at comparable thresholds.
But, as ever, headline figures only tell part of the story. «One potential hidden cost is the tax implications of residence in multiple countries,» says Ingham. Banking requirements, compliance checks, legal fees, and accommodation obligations can significantly increase the true cost of an application.
What are the risks of golden visas?
The investment migration landscape is constantly evolving. This year alone has seen Portugal remove the real-estate element of its program, while Malta’s citizenship-by-investment scheme was struck down following legal challenges from the European Union.
Other jurisdictions, including Italy, continue to face political pressure as governments reassess the role such programs play in their economies.
Tax remains the area most frequently misunderstood. «My advice would be for UHNW clients to obtain very good advice on the tax implications first, and then to consider obtaining a golden visa – not the other way round,» says Ingham. Because while investment thresholds are easy to compare, the long-term implications of residency are often far more complex.
Ultimately, the appeal of golden visas extends beyond residency rights alone; instead, they offer what wealth and power have always sought: choice.
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