In recent years, the "Golden Passport" program has become increasingly popular among the global 1% of the wealthy. Also known as the "Investment Passport Program" or "Investment Citizenship Program," some countries allow foreign nationals to obtain their citizenship through investment methods, including purchasing real estate, investing in businesses, or in some cases, making direct donations to the government.
Data shows that the number of British and American people seeking citizenship through investment has significantly increased. Between 2019 and 2024, the U.S. customer base grew by 1000%. Last year, the number of British people seeking overseas citizenship increased by 57%.
Facing unprecedented instability and uncertainty, investors and wealthy families are adopting geopolitical arbitrage strategies to gain additional citizenship options, to hedge judicial risks and to take advantage of differences in legal, economic, political, and social conditions across countries.
Relevant institutions rank countries with Golden Passport programs based on various factors including reputation, quality of life, and investment, residence, and entry requirements, with the rankings as follows (out of a total of 100 points):
14. Cambodia
Cambodia scored 53 points in the Henley & Partners Global Citizenship Index. Foreigners who invest approximately $310,000 and meet legal conditions, or make special contributions such as donations of over $300,000, can qualify for Cambodian citizenship.
13. Vanuatu
Vanuatu scored 60 points in the Henley & Partners Global Citizenship Index. The Vanuatu Donation Program raises funds and attracts high-quality immigrants to promote economic development, with donations starting at $80,000 and passports obtainable in as little as 2 months.
12. North Macedonia
North Macedonia scored 63 points in the Henley & Partners Global Citizenship Index. Third-country nationals who donate €200,000 to a government-designated fund are granted North Macedonian citizenship.
11. Jordan
Jordan scored 63 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by depositing $1 million in the Central Bank of Jordan, purchasing at least $1 million in Jordanian treasury bonds, or buying at least $1.5 million in shares of Jordanian companies.
10. Egypt
Egypt scored 63 points in the Henley & Partners Global Citizenship Index. Investors who donate $250,000 to the Egyptian state public finances can apply for citizenship.
9. Turkey
Turkey scored 64 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by purchasing one or more properties totaling over $400,000, or by purchasing $500,000 in Turkish funds. As the only major country in the investment citizenship project, it has always attracted many immigrants.
8. Dominica
Dominica scored 65 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by donating at least $200,000 to the Dominica Economic Diversification Fund.
7. Saint Kitts
Saint Kitts and Nevis scored 66 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by donating at least $250,000 to the Saint Kitts National Economic Fund. Known as the "passport pioneer" in the investment citizenship field, it has always been favored by high-net-worth individuals.
6. Saint Lucia
Saint Lucia scored 66 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by donating at least $240,000 to the Saint Lucia National Economic Fund.
5. Nauru
Nauru scored 66 points in the Henley & Partners Global Citizenship Index. Under the Nauru Economic and Climate Resilience Citizenship Program, investors who donate $105,000 to the Nauru Treasury can apply for citizenship.
4. Antigua
Antigua and Barbuda scored 67 points in the Henley & Partners Global Citizenship Index. Investors can apply for citizenship by donating at least $230,000 to the Antigua and Barbuda National Economic Fund.
3. Grenada
Grenada scored 69 points in the Henley & Partners Global Citizenship Index. Grenada citizenship applicants need to donate $235,000 to the National Transformation Fund (NTF) or invest $270,000 in a government-approved real estate project. Grenada attracts a large number of investment citizenship applicants with its high-quality investment targets and valuable passports.
2. Austria
Austria scored 75 points in the Henley & Partners Global Citizenship Index. Austrian investment citizenship applicants need to make a large donation to a government fund (€2 million), partner with a local business to establish a joint venture, or directly invest in projects that create jobs or promote exports.
1. Malta
Malta scored 76 points in the Henley & Partners Global Citizenship Index. Applicants need to donate €600,000 to the Malta National Development Fund, with an investment requirement of €750,000 to shorten the residence time. They must also donate at least €10,000 to a registered non-governmental organization; simultaneously purchase a residential property valued at least €700,000, to be held for a minimum of five years; or lease a residential property for a 5-year period with an annual rent of at least €16,000.
The Maltese passport, known as the "Hermès" of Golden Passports, is highly valued, but its high investment threshold and strict background checks deter many investors.
