Popular Investment Migration: Programs Grabbing Investors’ Attention

We are looking at 2024’s popular investment migration programs grabbing investors’ attention as new changes announced last year come into play.

Every year, price changes, law updates, geopolitical events, global economic situations, and new programs play a role in affecting the performance of any given investment migration program.

In this piece, we will predict the potential best-performing citizenship and residency by investment programs of 2024. It is important to note that our predictions take into account one single factor – the number of applications.

This prediction is not based on program performance in any other aspect, nor is it a ranking of the best programs; it is only a list of programs we predict will have either high application volume or significant application volume growth.

Popular Investment Migration Programs By Turkey

Turkey’s citizenship by investment program has shattered all kinds of records since its introduction in 2017. After a price slash in 2018, the program went on to naturalise over 19,000 people in less than five years.

Last year, though, the government decided to raise the real estate minimum investment amount from $250,000 to $400,000. This increase in the investment threshold will undoubtedly affect the number of applications as the pool of potential applicants decreases and some investors become priced out.

However, while the price increase may make a minor dent in the number of applications, the overall number is expected to continue growing for two main reasons.

How Turkey’s Citizenship by Investment Program Cost Affects Applications

First Reason

The first is that the minimum investment amount no longer aligns with Istanbul’s housing market (the most popular real estate investment destination in Turkey). If $250,000 got a good property five years ago, that isn’t the case today, so the program still makes absolute financial sense.

Second Reason

The second issue is the acceptance of Russian and Belarusian applicants, who are now suspended from applying to Caribbean citizenship by investment programs and most of the EU’s Golden Visas. As Russians and Belarusians need global mobility solutions now more than ever, it seems that Turkey is primed to attract the majority of their interest, offering the program a massive boost and potentially giving it a semi-monopoly on the Russian outbound market.

Malta Citizenship by Investment Program

Malta’s citizenship by investment program, the Maltese Exceptional Investor Naturalization program (MEIN), is unique. It is the only EU citizenship by investment program and the fastest route to obtain a passport from an EU country.

The MEIN has no direct competitor. While Portugal’s Golden Visa can lead to naturalization through minimal investment, it is, in essence, a residency by investment program. The MEIN, on the other hand, is all about citizenship and provides a faster route to naturalization. Depending on the donation amount, investors can obtain Maltese citizenship for themselves and their family within one or three years, making it the fastest route to becoming an EU citizen.

There are three facets to the MEIN’s investment amount, with real estate being one of them, and for an investor to qualify, they must invest as follows:

• Contribution:
  • One year till naturalization: €750,000, OR
  • Three years till naturalization: €600,000
• Real estate:
  • Purchasing real estate for the amount of €700,000, OR
  • Renting real estate for the annual amount of €16,000
• Donation of €10,000 to a predetermined, approved NGO

If an investor chooses the lower contribution amount of €600,000, then the total investment would be around €690,000 with a holding period of 5 years, not much higher than the minimum €500,000 required under the Portuguese Golden Visa, but it does provide a much faster route to citizenship.

But Malta’s MEIN isn’t the only contender for top spot, as the country also boasts the Maltese Permanent Residency Program (MPRP).

The MPRP has a very affordable price tag that is also broken down into different facets as follows:

• Investment options
  • Real estate investment:
    • An investment in real estate in the amount of €300,000 in the South of Malta/Gozo or €350,000 in the rest of Malta; OR
    • Renting a property for a minimum of €10,000 annually in the South of Malta/Gozo or €12,000 in the rest of Malta
  • A government contribution of €28,000 if purchasing a property or €58,000 if leasing a property
  • An administrative fee of €40,000
  • A donation of €2,000 to an NGO

As the MPRP provides applicants with a permanent residency, it is already a step ahead of the other Golden Visas on the list that award successful applicants with temporary residency permits. The minimum initial outlay of €110,000 is also much lower than any Golden Visa, making the MPRP the best option for those looking to obtain an EU permanent residence permit for minimal investment.

Overall, Malta’s passport, which provides visa-free access to over 185 destinations worldwide, including the US, UK, Canada, EU, and many more, is one of the best in the world.

The benefits of becoming an EU citizen are also significant, meaning that demand for the MEIN will continue to grow, and since the program has no direct competition in the EU, expect it to perform admirably.

Spain's Golden Visa: Investing in Prime European Real Estate

Spain’s Golden Visa offers an alternative for the Portuguese Golden Visa as it does have a real estate option set with a minimum investment amount of €500,000.The higher price tag than Greece does put Spain in a lower affordability bracket, but for those already considering spending half a million in Athens, then Spain’s option may prove feasible as well.

Spain’s price point, which used to be higher, is now more in line with what you’ll find elsewhere. Some places used to offer lower investment options for real estate(Portugal went as low as €280,000,) but those deals are off the table now. Spain matches up well in terms of cost and investment choices, but the ten-year wait for naturalization is definitely a downside.

Most Popular Caribbean Citizenship by Investment Programs

The Caribbean Five – Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and St Lucia – run some of the world’s most popular citizenship by investment programs.

The programs are quite similar in terms of structure, passport strength, and investment thresholds.

What is the Main Difference Between 5 Caribbean Citizenship by Investment Programs

There are differences, of course, especially in terms of qualifying dependents, processing times, and unique investment assets.

Antigua & Barbuda’s program continues to do all it can to protect and enhance its offerings while simultaneously continuously working on expanding its political alliance network.

One thing that may nudge Antigua’s program ahead of the pack is its University of West Indies Fund (UWF), which offers larger families with an economic route to obtaining citizenship. A family of six only requires a donation of $150,000, making the UWF one of the most affordable options for larger families.

As Antigua has a similar price point to Dominica and just a bit lower than Grenada, the differences will come down to subtle variables.

Greece’s Golden Visa: One of the Best Residency by Investment Programs

Greece’s Golden Visa has been one of the most popular citizenship by investment programs in the world since its introduction in 2013. We expect that to remain the case as it enters its 11th year of operations.

There are two factors that will lead to a top-tier performance in Greece. The recent update about the government announcing a price hike in certain areas to €800,000 from €500,000

Last year, the Hellenic government decided to increase the property investment amount from €250,000 to €500,000 in Thessaloniki, Mykonos, Santorini, Varo, and the majority of Athens.

The country is also expected to raise the amount in the remainder of the country’s areas to match the €500,000 valuation, and this possible outcome is driving demand.

The second reason is foreign. Portugal’s government decided to remove any real estate and property-adjacent investment assets from its Golden Visa. This new change may shift some investors who are adamant about investing in real estate to Greece’s option, growing the application volume further.

Dark Horse: Egypt Citizenship by Investment Program

Every year, investment migration gets a surprise package, and if there is a dark horse to keep an eye on this year, it may be Egypt’s citizenship by investment program.

Starting at a donation of $250,000 or a real estate investment of $300,000, Egypt’s program is averagely priced in comparison with the rest of the world’s citizenship by investment programs.

The Egyptian government introduced a slew of changes, including allowing investors to qualify through purchasing any property on an open-market policy, making the program much more interesting from an investment perspective.

There are two reasons that make Egypt’s program a dark horse with great potential.

• The first is the Russian market. Much like Turkey, Egypt’s program is open to Russian applicants, and since Egypt has a lower price point and has been a popular tourist destination for Russians throughout the years, Russian investors may opt for Egypt as their destination of choice.
• Secondly, Egypt falls outside of the Western-skewing citizenship by investment program conglomeration.

It offers an option leaning a bit more Eastern, which many may find attractive for various reasons, especially those who want to set up a robust contingency plan by obtaining citizenship or residency from countries on different ends of the global geopolitical spectrum.

In this sense, Egypt is an excellent option. As more awareness regarding investment migration, flag theory, and geopolitical polarisation grows, the higher the chance that Egypt can become home to one of the world’s best-performing citizenship by investment programs. We will have to wait and see.

Best Performing vs Best For You

It is important to note that even if an investment migration program dominates application volume, that doesn’t necessarily mean it is the best option for you. Each program has its benefits and requirements, and finding the best fit for you and your family requires the assistance of experts in the field such as Savory & Partners.

In Closing

As we round up the potential best performing investment migration programs of this year, we note that digital nomads are increasing in numbers with over 35 million spread across the world. Find out what it takes to plan this lifestyle and the most important factors to consider when applyring for a Digital Nomad Visa.

At Savory & Partners, we listen to your case, identify your needs, and provide you with the option that best suits your objectives and budget. All you need to do is contact us today to book a comprehensive consultation with one of our experts.