Global Residency and Citizenship by Investment Report

Introduction
In a time marked by geopolitical instability, economic uncertainty, and shifting regulatory environments, the Global RCBI Report 2025 emerges as an essential tool for understanding and navigating the complex world of Residence and Citizenship by Investment (RCBI) programs. As nations compete to attract global capital, skilled individuals, and international families, investment migration has transformed from a niche legal practice into a mainstream strategic instrument for wealth planning, mobility enhancement, and global risk mitigation. With 36 active programs across 35 countries, the RCBI landscape has matured into a dynamic ecosystem. Yet one that remains difficult to compare due to its diversity in legal frameworks, investment thresholds, and long-term outcomes.
This report presents the most comprehensive, data-driven assessment of global RCBI options to date. It ranks both Citizenship by Investment (CBI) and Residence by Investment (RBI) programs through a robust methodology that goes beyond just passport power or minimal investment thresholds. Instead, it applies a multi-dimensional evaluation model grounded in 18 performance indicators, distributed across five key thematic dimensions: Procedure, Mobility, Tax Optimization, Quality of Life, and Investment Environment. These dimensions reflect the real concerns of investors, entrepreneurs, and global families seeking both access and stability.
Each country’s program is evaluated using a combination of standardized quantitative data and calibrated qualitative insights. This ensures that cross-country comparisons are both rigorous and fair. The resulting index structure allows for dual rankings (one focused on CBI programs and the other on RBI schemes) giving readers the ability to differentiate between jurisdictions that offer immediate nationality and those that offer long-term residence pathways. Crucially, the indexes don’t just measure what each program offers, but how well it aligns with the motivations and needs of international investors in 2025.
The Global RCBI Report highlights the evolving dynamics of investment migration, showcasing how both Citizenship by Investment (CBI) and Residence by Investment (RBI) programs are adapting to global trends. Caribbean nations such as Antigua and Barbuda, St. Kitts and Nevis, and Grenada continue to lead in the CBI space, leveraging efficient application processes, favorable tax regimes, and extensive global mobility to attract international investors. Their success underscores the potential for smaller states to assert a strong presence on the global stage through well-structured and strategically positioned programs. On the RBI front, countries like Greece, Malta, Portugal and Switzerland maintain their appeal with robust legal systems and high-quality residency rights, while emerging players such as Latvia, Luxembourg, Singapore and the UAE are reshaping the landscape by aligning residence programs with innovation-driven, sustainable economic growth. The report’s comparative analysis of these diverse models offers critical insights into the future direction and competitive dynamics of the RCBI sector.
Beyond the rankings themselves, the report delves into emerging trends shaping the future of investment migration. These include the evolution of CBI schemes in the Caribbean amidst international regulatory scrutiny, the rise of hybrid talent-investment pathways in Asia and the Middle East, and the increasing convergence of RCBI programs with broader state-building objectives, such as climate resilience, tech innovation, and regional development. In sum, the Global RCBI Report 2025 is more than a ranking, it is a strategic guide for investors, policymakers, and advisors navigating a world in flux.
Methodology
Read MoreThe Global RCBI Report 2025 offers the most comprehensive, data-driven assessment of the global Residence and Citizenship by Investment (RCBI) landscape to date. Analyzing 36 programs across 35 countries, the report ranks both Citizenship by Investment (CBI) and Residence by Investment (RBI) schemes using a rigorous methodology built on 18 targeted indicators, grouped into five thematic sub-indexes or dimensions: Procedure Index, Mobility Index, Tax Optimization Index, Quality of Life Index, and Investment Environment Index.
Each program is scored using a mix of quantitative and qualitative data, standardized and normalized for cross-country comparability. The result is a dual index (one for CBI and one for RBI) that reflects not only the legal and administrative structure of each program, but also its broader appeal to global investors, entrepreneurs, and relocating families.
Constructing the rankings for the five dimensions for the Global RCBI Report required a rigorous multi-step methodology that combines normalization techniques, comparative policy analysis, and expert calibration. Each sub-index – Procedure, Mobility, Tax Optimization, Quality of Life, and Investment Environment – is weighted and rated on a standardized scale from 0 to 10. These scores are derived from a synthesis of multiple quantitative indicators and qualitative variables, carefully selected to reflect both investor priorities and policy design dimensions.
Full Report
Read Full ReportInvestment migration serves as an umbrella term encompassing a range of programs that enable individuals to acquire residence or citizenship rights through economic contributions. It includes Residence by Investment (RBI) schemes (commonly known as Golden Visas) which offer legal residency in exchange for qualifying investments, as well as Entrepreneurial Visas that require active business engagement, job creation, and immediate relocation. On the other hand, Citizenship by Investment (CBI) programs, often referred to as Golden Passports, grant citizenship directly through capital contributions without the need for prior residence. Together, these pathways reflect the diversity of state strategies in leveraging migration channels to attract foreign capital, talent, and entrepreneurship, while maintaining differentiated levels of integration and mobility rights.
The Global RCBI Report provides insights into the shifting landscape of investment migration, highlighting the adaptive strategies employed by Citizenship by Investment (CBI) and Residence by Investment (RBI) programs amid evolving global trends. Caribbean countries such as Antigua and Barbuda, St. Kitts and Nevis, and Grenada continue to dominate the CBI market by offering streamlined application processes, advantageous tax structures, and extensive global mobility benefits, positioning themselves effectively to attract international investors. Their success illustrates how smaller nations can significantly enhance their global presence through carefully structured, strategically targeted programs.
In the realm of RBI programs, established destinations like Greece, Malta, Portugal, and Switzerland retain their attractiveness due to reliable legal frameworks and superior residency benefits. Concurrently, newer participants including Latvia, Luxembourg, Singapore, and the UAE are transforming the RBI landscape by aligning their residency schemes with innovative and sustainable economic growth initiatives. Through its comparative analysis of these varied approaches, the report sheds essential light on emerging trends and competitive dynamics shaping the future of the RCBI sector.
CBI Rankings
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Antigua and Barbuda
|
94.3 | Learn More |
2
nd
|
St. Kitts and Nevis
|
93.6 | Learn More |
3
rd
|
Grenada
|
93.2 | Learn More |
4
th
|
Dominica
|
90.5 | Learn More |
5
th
|
St. Lucia
|
89.8 | Learn More |
6
th
|
Malta
|
88.0 | Learn More |
7
th
|
Nauru
|
87.4 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
8
th
|
Austria
|
85.9 | Learn More |
9
th
|
North Macedonia
|
84.8 | Learn More |
10
th
|
Vanuatu
|
84.4 | Learn More |
11
th
|
Türkiye
|
83.9 | Learn More |
12
th
|
Jordan
|
83.6 | Learn More |
13
th
|
Egypt
|
80.9 | Learn More |
14
th
|
Cambodia
|
80.6 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Antigua and Barbuda
|
95.7 | Learn More |
2
nd
|
St. Kitts and Nevis
|
95.0 | Learn More |
3
rd
|
Grenada
|
91.6 | Learn More |
4
th
|
Dominica
|
90.8 | Learn More |
5
th
|
St. Lucia
|
88.5 | Learn More |
6
th
|
North Macedonia
|
87.7 | Learn More |
7
th
|
Nauru
|
87.6 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
8
th
|
Malta
|
86.6 | Learn More |
9
th
|
Austria
|
85.3 | Learn More |
10
th
|
Türkiye
|
84.9 | Learn More |
11
th
|
Cambodia
|
83.8 | Learn More |
12
th
|
Egypt
|
83.4 | Learn More |
13
th
|
Jordan
|
83.3 | Learn More |
14
th
|
Vanuatu
|
82.8 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Austria
|
100.0 | Learn More |
2
nd
|
Malta
|
96.5 | Learn More |
3
rd
|
North Macedonia
|
83.9 | Learn More |
4
th
|
St. Lucia
|
79.2 | Learn More |
5
th
|
St. Kitts and Nevis
|
78.6 | Learn More |
6
th
|
Dominica
|
74.8 | Learn More |
7
th
|
Antigua and Barbuda
|
73.7 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
8
th
|
Türkiye
|
73.2 | Learn More |
9
th
|
Grenada
|
72.7 | Learn More |
10
th
|
Nauru
|
61.4 | Learn More |
11
th
|
Egypt
|
55.7 | Learn More |
12
th
|
Vanuatu
|
50.7 | Learn More |
13
th
|
Jordan
|
50.5 | Learn More |
14
th
|
Cambodia
|
50.0 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Grenada
|
100.0 | Learn More |
1
st
|
St. Kitts and Nevis
|
100.0 | Learn More |
2
nd
|
Dominica
|
93.8 | Learn More |
2
nd
|
St. Lucia
|
93.8 | Learn More |
2
nd
|
Nauru
|
93.8 | Learn More |
3
rd
|
Antigua and Barbuda
|
87.5 | Learn More |
3
rd
|
Malta
|
87.5 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
3
rd
|
Vanuatu
|
87.5 | Learn More |
3
rd
|
Cambodia
|
87.5 | Learn More |
3
rd
|
Egypt
|
87.5 | Learn More |
4
th
|
North Macedonia
|
81.3 | Learn More |
4
th
|
Jordan
|
81.3 | Learn More |
5
th
|
Austria
|
75.0 | Learn More |
5
th
|
Türkiye
|
75.0 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Austria
|
96.5 | Learn More |
2
nd
|
Malta
|
91.4 | Learn More |
3
rd
|
St. Kitts and Nevis
|
86.3 | Learn More |
4
th
|
Grenada
|
84.8 | Learn More |
5
th
|
Antigua and Barbuda
|
83.7 | Learn More |
6
th
|
Türkiye
|
82.0 | Learn More |
7
th
|
Dominica
|
77.3 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
8
th
|
North Macedonia
|
75.3 | Learn More |
9
th
|
St. Lucia
|
74.7 | Learn More |
10
th
|
Nauru
|
72.8 | Learn More |
11
th
|
Jordan
|
70.5 | Learn More |
12
th
|
Egypt
|
64.9 | Learn More |
13
th
|
Vanuatu
|
63.0 | Learn More |
14
th
|
Cambodia
|
57.8 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
St. Kitts and Nevis
|
94.42 | Learn More |
2
nd
|
Austria
|
92.87 | Learn More |
3
rd
|
Antigua and Barbuda
|
91.66 | Learn More |
4
th
|
Malta
|
91.39 | Learn More |
5
th
|
North Macedonia
|
78.92 | Learn More |
6
th
|
St. Lucia
|
73.37 | Learn More |
7
th
|
Grenada
|
70.72 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
8
th
|
Nauru
|
70.37 | Learn More |
9
th
|
Türkiye
|
70.09 | Learn More |
10
th
|
Dominica
|
69.23 | Learn More |
11
th
|
Vanuatu
|
68.87 | Learn More |
12
th
|
Jordan
|
63.51 | Learn More |
13
th
|
Cambodia
|
58.32 | Learn More |
14
th
|
Egypt
|
54.96 | Learn More |
RBI Rankings
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Greece
|
91.47 | Learn More |
2
nd
|
Malta
|
89.97 | Learn More |
3
rd
|
Switzerland
|
89.94 | Learn More |
4
th
|
Luxembourg
|
89.26 | Learn More |
5
th
|
Portugal
|
89.20 | Learn More |
6
th
|
Italy
|
89.10 | Learn More |
7
th
|
United Arab Emirates
|
88.84 | Learn More |
8
th
|
Cyprus
|
88.79 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
9
th
|
Costa Rica
|
88.37 | Learn More |
10
th
|
New Zealand
|
88.03 | Learn More |
11
th
|
Jersey
|
87.93 | Learn More |
12
th
|
Canada
|
85.91 | Learn More |
13
th
|
Hungary
|
84.78 | Learn More |
14
th
|
Mauritius
|
84.77 | Learn More |
15
th
|
Monaco
|
84.59 | Learn More |
16
th
|
Montenegro
|
84.32 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
17
th
|
Singapore
|
84.15 | Learn More |
18
th
|
United States
|
83.38 | Learn More |
19
th
|
Hong Kong
|
83.15 | Learn More |
20
th
|
Latvia
|
82.94 | Learn More |
21
st
|
Panama
|
81.58 | Learn More |
22
nd
|
Thailand
|
79.38 | Learn More |
23
rd
|
Malaysia
|
78.76 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Greece
|
91.86 | Learn More |
2
nd
|
Cyprus
|
88.49 | Learn More |
3
rd
|
Italy
|
87.64 | Learn More |
4
th
|
Jersey
|
86.50 | Learn More |
5
th
|
Luxembourg
|
85.78 | Learn More |
6
th
|
United Arab Emirates
|
85.65 | Learn More |
7
th
|
Portugal
|
85.53 | Learn More |
8
th
|
Switzerland
|
85.20 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
9
th
|
Malta
|
85.16 | Learn More |
10
th
|
Thailand
|
84.94 | Learn More |
11
th
|
United States
|
84.80 | Learn More |
12
th
|
Panama
|
84.79 | Learn More |
13
th
|
Hungary
|
84.69 | Learn More |
14
th
|
Latvia
|
83.98 | Learn More |
15
th
|
Costa Rica
|
83.90 | Learn More |
16
th
|
Montenegro
|
82.51 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
17
th
|
Hong Kong
|
82.11 | Learn More |
18
th
|
New Zealand
|
81.55 | Learn More |
19
th
|
Mauritius
|
80.80 | Learn More |
20
th
|
Monaco
|
80.41 | Learn More |
21
st
|
Canada
|
78.04 | Learn More |
22
nd
|
Malaysia
|
77.82 | Learn More |
23
rd
|
Singapore
|
75.01 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Italy
|
96.77 | Learn More |
2
nd
|
Greece
|
91.94 | Learn More |
3
rd
|
Hungary
|
90.32 | Learn More |
4
th
|
Luxembourg
|
88.71 | Learn More |
5
th
|
Portugal
|
87.10 | Learn More |
6
th
|
Switzerland
|
85.48 | Learn More |
7
th
|
United Arab Emirates
|
83.87 | Learn More |
8
th
|
Singapore
|
82.26 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
9
th
|
New Zealand
|
79.03 | Learn More |
10
th
|
Malaysia
|
75.81 | Learn More |
11
th
|
Canada
|
74.19 | Learn More |
12
th
|
United States
|
70.97 | Learn More |
13
th
|
Cyprus
|
69.35 | Learn More |
14
th
|
Malta
|
67.74 | Learn More |
15
th
|
Latvia
|
66.13 | Learn More |
16
th
|
Monaco
|
64.52 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
17
th
|
Hong Kong
|
62.90 | Learn More |
18
th
|
Jersey
|
61.29 | Learn More |
19
th
|
Montenegro
|
59.68 | Learn More |
20
th
|
Costa Rica
|
58.06 | Learn More |
21
st
|
Mauritius
|
56.45 | Learn More |
22
nd
|
Panama
|
54.84 | Learn More |
23
rd
|
Thailand
|
51.61 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
United Arab Emirates
|
100.0 | Learn More |
2
nd
|
Costa Rica
|
91.67 | Learn More |
2
nd
|
Panama
|
91.67 | Learn More |
2
nd
|
Singapore
|
91.67 | Learn More |
3
rd
|
Portugal
|
89.58 | Learn More |
3
rd
|
Switzerland
|
89.58 | Learn More |
4
th
|
Jersey
|
85.42 | Learn More |
4
th
|
New Zealand
|
85.42 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
5
th
|
Hong Kong
|
83.33 | Learn More |
5
th
|
Malaysia
|
83.33 | Learn More |
5
th
|
Thailand
|
83.33 | Learn More |
6
th
|
Cyprus
|
77.08 | Learn More |
6
th
|
Hungary
|
77.08 | Learn More |
6
th
|
Latvia
|
77.08 | Learn More |
6
th
|
Malta
|
77.08 | Learn More |
6
th
|
Monaco
|
77.08 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
6
th
|
Montenegro
|
77.08 | Learn More |
6
th
|
Luxembourg
|
77.08 | Learn More |
6
th
|
Mauritius
|
77.08 | Learn More |
7
th
|
Greece
|
68.75 | Learn More |
7
th
|
Italy
|
68.75 | Learn More |
7
th
|
Canada
|
68.75 | Learn More |
8
th
|
United States
|
58.33 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
Canada
|
96.64 | Learn More |
2
nd
|
New Zealand
|
93.76 | Learn More |
3
rd
|
Switzerland
|
93.12 | Learn More |
4
th
|
Singapore
|
90.80 | Learn More |
5
th
|
Portugal
|
90.17 | Learn More |
6
th
|
Luxembourg
|
89.34 | Learn More |
7
th
|
Jersey
|
87.63 | Learn More |
8
th
|
Malta
|
86.70 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
9
th
|
Monaco
|
86.24 | Learn More |
10
th
|
Italy
|
86.22 | Learn More |
11
th
|
United Arab Emirates
|
83.88 | Learn More |
12
th
|
Hong Kong
|
82.34 | Learn More |
13
th
|
Costa Rica
|
80.43 | Learn More |
14
th
|
Mauritius
|
80.07 | Learn More |
15
th
|
Cyprus
|
79.73 | Learn More |
16
th
|
Greece
|
79.40 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
17
th
|
United States
|
78.70 | Learn More |
18
th
|
Hungary
|
78.62 | Learn More |
19
th
|
Latvia
|
78.34 | Learn More |
20
th
|
Malaysia
|
77.67 | Learn More |
21
st
|
Montenegro
|
73.90 | Learn More |
22
nd
|
Panama
|
73.81 | Learn More |
23
rd
|
Thailand
|
70.97 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Ranking | Country | Score | Full Detail |
---|---|---|---|
1
st
|
New Zealand
|
80.31 | Learn More |
2
nd
|
Singapore
|
79.96 | Learn More |
3
rd
|
Hong Kong
|
79.24 | Learn More |
4
th
|
United States
|
78.14 | Learn More |
5
th
|
Mauritius
|
76.39 | Learn More |
6
th
|
Monaco
|
76.30 | Learn More |
7
th
|
Malaysia
|
76.26 | Learn More |
8
th
|
United Arab Emirates
|
75.90 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
9
th
|
Thailand
|
75.14 | Learn More |
10
th
|
Canada
|
75.01 | Learn More |
11
th
|
Switzerland
|
72.95 | Learn More |
12
th
|
Portugal
|
72.67 | Learn More |
13
th
|
Malta
|
71.88 | Learn More |
14
th
|
Italy
|
70.57 | Learn More |
14
th
|
Greece
|
70.57 | Learn More |
15
th
|
Jersey
|
68.56 | Learn More |
Ranking | Country | Score | Full Detail |
---|---|---|---|
16
th
|
Costa Rica
|
67.31 | Learn More |
17
th
|
Luxembourg
|
66.39 | Learn More |
18
th
|
Panama
|
65.36 | Learn More |
19
th
|
Hungary
|
61.87 | Learn More |
20
th
|
Cyprus
|
60.23 | Learn More |
21
st
|
Latvia
|
55.67 | Learn More |
22
nd
|
Montenegro
|
50.66 | Learn More |
Ranking | Country | Score | Full Detail |
---|
Insights

The Rise of Dual Citizenship: Between Statecraft and Insurance Policy
Over the past three decades, d ual citizenship has transformed from a rare legal anomaly into a mainstream global practice. For most of the 19th and 20th centuries, dual citizens were objects of suspicion, derided for what was often called “political bigamy.” Nowadays, the majority of countries in Europe and the Americas, as well as many in Asia, allow their citizens to hold more than one nationality.({Harpaz, Yossi. 2019. Citizenship 2.0: Dual Nationality as a Global Asset. Princeton, NJ: Princeton University Press.}) This shift reflects a broader transformation in the way citizenship is understood and used by states as well as individuals. On both sides, the acceptance of dual citizenship is creating new options for strategic and flexible behavior. States increasingly view citizenship as a policy tool for pursuing economic, demographic, and geopolitical objectives. Meanwhile, individuals—especially those outside the West—approach citizenship as a strategic asset: a means of securing mobility, opportunity, and protection in an uncertain world.
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Investment Migration, Global Development, and the Economic Potential of New Generations
After three to four decades of globalization that brought about new wealth creation, global mobility and a few crises, things are changing and now the world faces the risks of continued armed confrontations, trade wars, political polarization in big countries and policy unpredictability. All these factors are leading to an increase in the insurance value of investment migration that attracts High-Net-Worth Individuals (HNWI)({A wealthy person or HNWI is often defined as individuals with investable (liquid) wealth over U$ 1 million (some use a higher threshold of investable wealth of over U$ 3 million), see Solimano (2024).}), professionals, entrepreneurs, and other talented people. Global solutions for this pool of internationally mobile people are, certainly, needed. In addition, new topics are emerging such as the growing portance of the youth as a very relevant actor in the process of wealth accumulation and international mobility, but challenges also exist in this area.
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From Economic Necessity to Global Leadership: Caribbean Citizenship by Investment (CBI) Programs
Citizenship by Investment (CBI) programs in the Caribbean have emerged as a strategic economic tool for small island nations navigating the post-independence landscape. In the wake of British colonial rule, many of these countries faced limited natural resources and economic dependence in on vulnerable sectors such as agriculture and tourism. To address these challenges and attract much-needed foreign capital, several Caribbean states introduced CBI programs—offering citizenship in exchange for substantial investments in areas such as real estate or government funds. More than just a financial mechanism, CBI programs have become a cornerstone of economic diversification and resilience across the region.
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