Have you ever imagined trading your current passport for a passport that opens the door to exciting new adventures? Although this may seem like a distant dream, many countries offer citizenship programs that can make it a reality.
Although obtaining citizenship or residency is not cheap, if it is a priority, the investment is worth it. But before that, let’s establish the difference between citizenship and residence.
Citizenship guarantees you all the rights that a person born in that country would enjoy, for example – a passport and the right to vote. However, residence differs in some ways. Although it gives you the freedom to travel freely across the country, work and get paid, it does not provide all the rights a citizen gets.
Furthermore, temporary residence lasts for a specified period whereas there is no limit of time for permanent residence.
The Golden Visa is offered by some countries and is a way to obtain residency – but not citizenship. These visas are usually granted in exchange for investment in a country’s economy. People donate to government sponsored programs or invest in properties to take advantage of this.
Portugal, Spain and Greece are some of the popular destinations offering Golden Visa. Spain had issued approximately 800 golden visas during 2024.
Apart from the Golden Visa, there are also Citizenship by Investment programs (CIP) that can get you a passport if you make a heavy investment or pay a fee for that country.
Apart from the above, there is an interesting visa that allows people to live and work in the country while still paying taxes in their country of origin, called the Digital Nomad Visa. Estonia, Germany and Norway are the countries that offer such visas.
Caribbean countries like Antigua and Barbuda, St. Kitts and Nevis, St. Lucia, Grenada and Dominica offer SIP programs with various options for investment. Cambodia, Singapore and Australia also offer SIP programs, with Cambodia being one of the cheaper options, with investments starting at $245,000.
Singapore’s program requires an investment of $7 million for a two-year residency program and Australia only offers the program to highly skilled individuals with a net worth of more than $1 million. Countries like Türkiye, Greece, Hungary, and Brazil also offer the Golden Visa program.
Obtaining residency or citizenship in a foreign country can be a complex and expensive process. However, with the right investment and guidance, it can also offer a world of opportunities and adventure. Whether you’re looking for a Golden Visa, CIP, or Digital Nomad Visa, there are many countries that offer relatively easy and affordable options.
