The Key Difference Between Golden Visas & Citizenship by Investment
Your Plan B Options: Residency or Citizenship?
Global investors today aren’t just looking for returns – they’re looking for freedom, security, and future-proofing. That’s where Golden Visa and Citizenship by Investment (CBI) programs come in. Both open doors to international living, tax optimisation and global mobility, yet they do serve very different purposes. Golden Visas focus on residency rights, while Citizenship by Investment grants full citizenship and a second passport. This guide breaks down the key differences to helps investors align their choices with personal and financial goals.
What Is a Golden Visa?
Essentially, the phrase “Golden Visa” is a broad term that’s come to represent a wide range of both citizenship and residency by investment programs. When Portugal and Spain first launched their versions in 2012/2013, the name quickly caught on – and over the years, many countries with similar offerings adopted the phrase, even if unofficially. However, most of these programs have formal legal names. For instance, Portugal’s Golden Visa is officially known as the Residence Permit for Investment Activity (ARI).
What is Residency by Investment?
Typically the term ”Golden Visas” tends to be more commonly used when referring to residency by investment programs. Many countries across the world offer this category of visa and there are a range of highly popular programs in Europe that are ideal for investors looking for greater global mobility, tax advantages, or a long-term pathway to citizenship.
Key Features:
- Grants temporary or permanent residency
- Typically involves real estate, fund investment, or capital transfer
- Often leads to citizenship after 5 – 10 years (via naturalisation)
- Minimal stay requirements (e.g., 7 days/year in Portugal)
Golden Visa Residency Examples:
- Portugal Golden Visa (ARI): Residency from €500,000 private equity investment
- Greece Golden Visa: Residency from €250,000 property investment
- Malta Permanent Residency Program (MPRP): Permanent residency via government contribution and property lease
Golden Visas in Other Regions:
- UAE Golden Visa: 2 -10 year residency options available from $50,000 +
- USA Gold Card: Residency (Green Card) from $5M, with a pathway to Citizenship after five years +
What Is Citizenship by Investment (CBI)?
CBI programs effectively skip the residency stage and grant full citizenship and a passport – often within a matter of months – without any residency requirement. They’re a fast-track solution for global mobility, generational security, and visa-free access worldwide.
Key Features:
- Immediate citizenship and passport
- No physical presence needed in most cases
- Options include donations or real estate
- Visa-free access to 100 – 180+ countries, depending on the country
Citizenship by Investment Examples:
- St. Kitts & Nevis Citizenship by Investment: Citizenship within six month from $250,000 +
- Grenada Citizenship by Investment: From $235,000 with China + Schengen access
- Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment: EU citizenship in 1–2 years from €690,000 +
When acquired through naturalisation, Citizenship typically grants individuals full political rights, including the ability to vote in national elections, run for public office, and access government protections. However, those who acquire citizenship through Citizenship by Investment (CBI) programs are often excluded from voting or political participation, depending on the country’s laws. Unlike residents, citizens enjoy strong legal protections – they generally cannot be deported, even in the event of legal trouble. If a citizen faces difficulty abroad, they can seek assistance from their country’s embassy or consulate, which may offer help such as legal support, emergency evacuation, or coordination with local authorities.
Golden Visa Vs Citizenship by Investment Difference Summary
| Feature | Golden Visa | Citizenship by Investment (CBI) |
|---|---|---|
| Status Granted | Residency | Full citizenship & passport |
| Investment Range | From €100,000 + (e.g., Latvia) | From $105,000 + (e.g., Nauru) |
| Time to Approval | 3 –12 months | 3 – 24 months |
| Path to Citizenship | 5 - 10 years (via naturalisation) | Instant on approval |
| Visa-Free Travel | Limited to country/region | 100 –180+ countries globally |
| Tax Residency Perks | Yes (e.g., Portugal’s NHR) | Depends on program/country |
| Residency Requirements | 1 - 183 days per year | None in most cases |
| Political Rights | No voting rights | Some political rights - but CBI often doesn't grant voting rights. |
Trends, Transparency, and Regulatory Shifts
Both pathways are under greater scrutiny in 2025. Golden Visa rules are evolving across the EU, while leading CBI countries now require enhanced due diligence and interviews (e.g., St. Kitts). The OECD has increased compliance requirements globally – making trusted guidance more important than ever. If you are unsure whether a residency card or second citizenship will work better for you, please do not hesitate to consult with La Vida’s experts.
