The Top Five Citizenship by Investment Programs in 2024

To guide international investors through the process of making the best decisions for their businesses and families, Henley & Partners recently published the 2024 edition of the Global Citizenship Program Index, a comprehensive and interactive analytical tool that ranks the world’s most important citizenship by investment programs on an array of criteria including quality of life, visa-free travel, investment requirements, compliance, physical presence conditions, relocation flexibility, transparency, and reputation.

In 1st place is Malta, followed by Austria, while Antigua and Barbuda, Grenada, and St. Lucia share the 3rd ranking.

Malta is the world’s leading alternative citizenship solution

Malta has been at the top of the leaderboard of the Henley Citizenship Program Index over recent years, cementing its position as one of the most coveted alternative citizenship destinations. To bolster the country’s development, the Maltese government has put in place a robust and transparent regulated citizenship process. Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment grants foreign investors and their eligible dependents a certificate of naturalization following a 36-month (or, by exception, 12-month) residence period and a minimum investment of EUR 738,000. The total investment includes real estate acquisition or rental and a donation to a non-governmental organization to support the local community.

Some of the overarching advantages of Maltese citizenship include access to a reputable financial center and a prime jurisdiction for international business, a high quality of life, and, perhaps most importantly, the global mobility that Maltese passport holders enjoy. Ranked in the Top 5 on the Henley Passport Index, Maltese citizens can travel visa-free or with a visa on arrival to approximately 190 destinations. This is an incalculable benefit for international businessowners and investors as it grants them the opportunity to expand their network, access new markets, and promote their business ventures globally.

Austrian citizenship by investment offers a gateway to Europe

This year, Austrian Citizenship by Investment is ranked 2nd on the Henley Citizenship Program Index. Under the Austrian provisions, applicants are required to make a substantial contribution to the Austrian economy, be it through joint ventures or direct investments in businesses that create jobs and drive economic growth. The application process can take between 24 and 36 months and it is entirely discretionary in nature.

Located in the heart of Europe, Austria offers affluent families a high standard of living and access to top-tier education for their children as well as coveted EU citizenship. The country is one of the continent’s most architecturally beautiful yet modern hubs and is successfully luring a growing number of high-net-worth individuals who are drawn to its thriving tech and business environment, with its capital city Vienna a worldclass destination.

Antigua and Barbuda provides a strategic avenue to international mobility

Ranked 3rd on the Henley Citizenship Program Index, the Antigua and Barbuda Citizenship by Investment Program currently has an accessible investment requirement of USD 100,000* for the donation route. Notably, another attractive feature of this program is that successful applicants are only required to visit the islands for five days during the first five years of obtaining citizenship.

The dual-island nation also offers a favorable tax environment with no taxes applied to capital gains, wealth, or inheritance. In addition, Antigua and Barbuda unlocks a plethora of international mobility benefits for global businesspeople as its passport holders can travel freely to over 150 destinations around the world. Investors from countries with a lower passport ranking can therefore leverage Antigua and Barbuda’s citizenship program to gain visa-free access to a larger proportion of the world’s business hubs.

Grenadian citizenship as a robust safeguard against global risks

As global financial risks and instability pose an ominous threat, wealthy individuals and entrepreneurs are taking advantage of the global business opportunities that Grenadian citizenship opens doors to. Successful applicants and their families can travel to China, Singapore, the UK, Europe’s Schengen Area, and many more in three to four months — without needing a visa in advance.

Sharing the 3rd place on the Henley Citizenship Program Index, the Grenada Citizenship by Investment Program currently allows investments of at least USD 150,000* to the National Transformation Fund, or USD 220,000 in an approved real estate investment in exchange for full citizenship rights.

The entrepreneurial lure of St. Lucia’s citizenship program

St. Lucia’s program, also ranked 3rd on the Henley Citizenship Program Index, emerges among the Caribbean’s alternative citizenship programs as a compelling choice for discerning investors. The island nation attracts foreign business and investment, especially in its international banking and tourism industries. Furthermore, the Headquarters Act is a fiscal incentive that offers personal and corporate income tax exemptions for those who relocate their head offices to St. Lucia.

The program has multiple options ranging from the low investment threshold of USD 100,000 for a contribution to the National Economic Fund to USD 200,000 for a real estate purchase, to government bonds worth USD 300,000, to a minimum of USD 3.5 million for an enterprise that creates at least three permanent jobs.

The Global Citizenship Program Index 2024 is indispensable for all those considering citizenship by investment, enabling investors to select the factors that matter most to them and their families. Other citizenship by investment programs that are analyzed and ranked on the index include Eastern Caribbean island Dominica and transcontinental Türkiye in 5th place, Northeast African nation Egypt and Middle Eastern Jordan sharing 6th place, Southeast European country North Macedonia taking the 7th spot, South-Pacific island Vanuatu in 8th place, and Southeast Asian kingdom Cambodia sitting in the 9th position.

* The governments of Antigua and Barbuda and Grenada have recently signed a landmark memorandum of understanding to strengthen and enhance the integrity of their citizenship by investment programs. As part of the agreement, the Caribbean nations (including Dominica and St. Kitts and Nevis) have also committed to increasing and aligning the minimum investment threshold of their programs to at least USD 200,000 by no later than 30 June 2024, making now the perfect time to apply under the current investment thresholds.

Henley & Partners is the global leader in residence and citizenship by investment and is readily available to support those building a diversified portfolio that delivers expanded global mobility, improved security, and ultimately a higher quality of life and a lasting legacy.