Manuel Garrido
In early 2025, Global Citizen Solutions saw a sharp rise in interest from US clients – up 250% compared to previous months. This trend is not new. A 2023 Gallup poll found that 15% of American adults would move permanently if they could. That’s nearly 39 million people seriously considering life outside of the US, driven by the pursuit of safety, a better quality of life, and financial security, among other factors.
Among the people thinking of relocating, a significant portion of them are high-net-worth investors. And with the number of millionaires at an all-time high, the number one question on high-net-worth individuals’ minds is: How to protect my wealth and my family against insecurity?
João Pacheco Gonçalves has answers. As the Head of Institutional Client Relations at Global Citizen Solutions operating from Switzerland, one of the world leading hubs for private wealth planning, João shares what it takes to build a modern wealth mobility plan and why it matters more than ever in today’s volatile world.
Golden Visas as solutions for protecting wealth and legacy
Golden Visa programs began in the early 2000s and gained momentum in Europe around 2012–2013 to attract foreign investment during the Eurozone crisis. Portugal launched its program in 2012, Greece followed in 2013, and countries like Malta, Cyprus, and Italy joined later. These programs offered residency in exchange for real estate purchases, capital transfers, job creation, or investment funds.
The main purpose of these programs has always been to attract overseas capital to help grow the economy. In Portugal, for instance, investors have contributed over €7.3 billion since 2012. While Greece had investments that contributed to more than 14% of Foreign Direct Investment (FDI) from 2013 to 2019.
In the same way that Golden Visa programs have strengthened several national economies, they also provide several advantages to investors. Securing residency through investment is not just about relocating. It is about gaining the privilege of having options. As Pacheco, whose career and academic path has taken him from Portugal to Russia, China, Mozambique, and now Switzerland, explained in an interview, modern investors are increasingly using Golden Visas as tools for flexibility and long-term planning.
When asked where he sees wealth management heading, Pacheco noted that high-net-worth individuals are shifting their focus.
“While mobility is a huge benefit of investment migration, the typical client is not just focused on where the Golden Visa can take them,” he explained.
“They are more interested in investing in mobility with purpose. Sometimes it is not even about moving. For example, American clients are increasingly looking for solutions, not necessarily because they plan to leave the U.S., but because they want a Plan B if things go in the wrong direction.”
This shift indicates a broader trend that wealth protection today involves anticipating change and securing stability.
An additional step towards gaining stability is protecting wealth for future generations. Pacheco emphasized that many clients are driven by family priorities and personal convenience.
“We had a case of a British woman whose children were split between France and Canada. She decided to get a Caribbean passport,” he said. “She vacations there a few months a year and the rest of the time she moves between the UK, France and Canada. What she really wanted was a passport that gave her increased mobility but also the opportunity to benefit from a more attractive tax regime.” That is what a lot of people are looking for now. Something that makes their life easier and gives them added freedom.”
The need to adapt with family as life pulls in different directions falls into the need for generational planning. This involves preparing your wealth and assets to support not only your own needs but also those of your children and future descendants.
Thinking ahead is one of the reasons the Caribbean Island of Grenada stands out to many investors. It offers citizenship by investment that can be passed down generationally. Grenada along with other Caribbean countries top the rankings on Global Citizenship Solutions’, Global Residency and Citizenship by Investment Report.
“Citizenship is also inherited. So, for example, if you do it, then your kids are covered. And if your kids one day have kids, they will also be eligible,” Pacheco explained.
“Grenada has been using the inheritance as on the main selling points. That is because inheritance has become one of the top priorities for these clients. They want to future-proof their legacy.”
Why European Golden Visas?
As Pacheco puts it, one of the strongest driving forces behind Golden Visas being sought after by investors is sovereign risk. In other words, the risk that a country’s political or economic instability could negatively impact an individual’s assets, freedoms, or quality of life.
“People are tackling that risk by diversifying their passport portfolios,” he said. For today’s investors, Golden Visas are more than a relocation tool. They are a strategy for security, global access, and protecting what matters most.
Golden Visas in Europe reflect this approach especially well. These programs offer an opportunity to protect wealth, secure a future for the next generation, and grow both tangible and intangible assets.
Pacheco pointed out that, investing in Europe can offer the best of both worlds. “You have countries like Malta, where applicants can either rent or buy a property as part of a three-part investment,” he said. “Then there is Greece, which has divided its real estate options into different tiers to allow people to invest in anything from restoring historic buildings to purchasing luxury properties. On top of that, you get a much more tax-friendly environment in countries that provide a very high quality of living.”
In fact, it has become more evident over the years that one of the major attractions to Europe for investors are the tax incentives that come with becoming a tax resident in some of these European countries. “Italy is a good example,” added Pacheco. The country allows high-net-worth individuals who become tax residents in Italy to apply to pay a flat annual tax of €200,000 on foreign income, regardless of how much they earn, with an added benefits of extending it to family members.
The Golden Visa combo: It's more than meets the eye
During the interview, we presented Pacheco with a scenario involving a 54-year-old American man with a wife and two children, looking to diversify his real estate portfolio. In response, Pacheco explained how a Golden Visa could be the right solution.
“It would be like hitting two birds with one stone. You buy a property, for example, in Greece, which is obviously a beautiful country with great weather and lifestyle. At the same time, you gain residency in a European Union and Schengen area country. That adds another layer of security and value to your investment.”
Experts are also noticing a new trend, where people are starting to combine solutions. “Nowadays, people are mixing and matching different solutions, depending on their needs. It’s perfectly possible to get a St Kitts and Nevis Passport and pair it with a Portuguese Golden Visa. It’s “about enhancing one’s opportunity – across all areas of their lives,” continued Pacheco.
Changes, misconceptions, but Golden Visas continue to expand
Regardless of the political discourse around Golden Visas. these programs have gained popularity over the years and benefited all economies. Portugal is one such example.
In the first quarter of 2025, inquiries and investments in Golden Visa funds increased by 43% compared to the same period last year. One of the many reasons behind this surge is that investing in funds is hassle-free. Investors don’t need to worry about property management, as their investments are handled by experienced teams. This means passive involvement but active, professional results.
Despite the success of Golden Visas, there are still a few misconceptions about them. One of the most common, according to Pacheco’s experience, is the belief that these visas are difficult to obtain.
“In reality, it can be simple with the right partner,” Pacheco explains. “Companies like Global Citizen Solutions make the process straightforward. It’s really about having someone guide you step by step, holding your hand through it. That changes everything.”
He notes that much of the hesitation comes from a lack of familiarity. “A lot of individuals and even their advisors are just not aware of how the industry works. Because of that, there is fear or uncertainty. I have had conversations with wealth managers who were asking questions that demonstrated their uncertainty about what these programs actually involve,” he emphasized.
To move the conversation forward and help more investors take advantage of these opportunities, Pacheco made a point on the importance of education.
“We need to educate people so they understand this is a real and accessible option,” he says. “Most people do not realize how many different programs exist or how varied they are. While the end goal is often the same, residency or citizenship, the paths to get there can be very different.”
However, as more people learn about these residencies by investment programs, changes are also inevitable in the investment migration industry. In 2023, Portugal removed its real estate investment option, and Spain eventually closed its Golden Visa program in early April 2025. Malta’s MEIN (Malta Exceptional Investor Naturalisation) program also came under scrutiny. The European Court of Justice ruled against it, stating that the program undermines the mutual trust between EU member states by granting citizenship without a genuine link to the country.
In the background of these changes, some countries are also expanding their investment options while other programs, like the Portugal Golden Visa continue to thrive. Greece, for example, is developing a start-up route to encourage and attract more innovative investors. So, where is the future of Golden Visas headed?
According to Pacheco, the industry will continue to expand and adapt. “The more the industry grows, the more people will start to see the value in these options. I was saying recently. if you told someone in the Portugal ten years ago that one day, they might face travel issues when visiting the US, it would have sounded impossible – but now, it doesn’t sound that absurd anymore. Or if you told someone in Europe, twenty years ago that the UK would leave the EU, they would have said that’s unthinkable. But it happened. The world is changing fast and as globalization seems to be retracting, most of these individuals will keep exploring opportunities to maintain their global lifestyles and mindset”” added Pacheco.
Speaking towards the public scrutiny of both citizenship and residency programs, Pacheco explained, “although these programs are often scrutinized, people are gradually becoming more used to them. Some countries are closing programs while others are opening new ones. What started in the 1980s with the Caribbeans has steadily grown over the years. So even as Spain shuts down its program, countries like Argentina are launching new ones. It’s becoming slowly more accepted.”
Make plans today, for tomorrow
It is evident that Golden Visas are no longer a luxury. They have become a strategic tool for protecting and growing global wealth. The goals are different and unique to the individual. For instance, a high-net-worth family might be more focused on relocating for lifestyle, while a businessperson might be focused more on tax optimization or asset protection. Ultimately, there are various programs that provide tailored solutions to meet those needs.
As the world changes, people adapt, which means early planning is essential. Expert guidance from trusted wealth advisors helps ensure each step is aligned with long-term goals. Make plans today, for tomorrow.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
