 "HNI, high net worth individuals, rich, billionaires, millionaires, investors, investment, stocks, valuations, brokers, earnings")
Malta, Austria, Antigua and Barbudam, and Grenada have emerged as the world's top citizenship by investment programmes of 2024, according to the Henley & Partners' Citizenship Program Index. The report features the Global Citizenship Program Index and the Global Residence Program Index, giving a systematic analysis and comprehensive benchmarking of the world’s most prized residence and citizenship by investment programs, providing the gold standard in the sector.
Malta holds first place in the 2024 Global Citizenship Program Index as it has done for nine consecutive years. It has the world’s strictest due diligence standards and offers an attractive place to live or own a second home.
The index assesses programs across 10 key factors, including reputation, quality of life, visa-free travel access, processing times, compliance procedures, and investment requirements. It aims to provide a comprehensive overview for anyone seeking new opportunities through citizenship by investment.
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For the 2024 Residence Programme Index, the factors that are analyzed in the index are as follows:
Global Citizenship Program Index
Reputation
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Quality of Life
Visa-free or Visa-on-arrival Access
Processing Time and Quality of Processing
Compliance
Investment Requirements
Tax
Total Costs
Time to Citizenship
Citizenship Requirements
The Henley Index emphasizes that the "best" program is highly individual, depending on specific needs and priorities.
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The Portugal Golden Residence Permit Program retains the top spot on the Global Residence Program Index. It enables visa-free access to Europe’s Schengen Area and the right to live, work, and study in Portugal with international quality healthcare and education.
The Greece Golden Visa Program : The Mediterranean’s rising star, the Greece Golden Visa Program, is placed 2nd on the Global Residence Program Index. Under the program a minimum real estate investment of EUR 250,000 grants a residence permit, which is acquired within 120 days.
The Antigua and Barbuda Citizenship by Investment Program comes in third on the Global Citizenship Program Index offering one of the most competitive programs in the Caribbean. Options start from $100,000.
Several emerging markets are also gaining traction, with countries like Cambodia, Vanuatu, and North Macedonia making significant strides in the rankings. These programs often offer faster processing times and lower investment thresholds, appealing to a wider range of individuals.
Millionaire migration to boom this year
In the lead-up to 2020, wealth migration had been steadily accelerating, with approximately 108,000 high-net-worth individuals migrating in 2018 compared to 95,000 in 2017, 82,000 in 2016, and 64,000 in 2015, shows data analysed by Henlay & Partners. However, the outbreak of the Covid-19 pandemic in late 2019 and the associated lockdown and travel restrictions that characterised 2020 and 2021 significantly impeded global mobility for all. "The 2022 and 2023 figures reveal a rapid recovery, and 2024 is projected to be a record-breaking year, with the biggest millionaire migration in history, at 128,000," noted the report.
Millionaire migration since 2013
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Why are they migrating?
"Many of the world’s leading financial centers are in countries that host investment migration programs and actively encourage foreign direct investment in return for residence rights, such as the USA, Hong Kong (SAR China), Singapore, Switzerland, Luxembourg, and the UAE. The programs provide high-net-worth individuals with the option of physically relocating, if they wish, as well as the right to live, study, receive quality healthcare, and conduct business in their new country of residence," said Henley & Partners. These countries offer excellent options for private residence, business opportunities, premium educational institutions, top private healthcare facilities, and a high quality of life.
The multiple yields of real estate-linked programs
Residence and citizenship by investment programs in sought-after countries such as Cyprus, Greece, Malta, Mauritius, Spain, and the UAE and in the Caribbean offer real estate options. "Real estate-linked investment migration provides a unique opportunity to acquire two desirable assets — access to multiple jurisdictions and international real estate — in just one transaction. Investing in real estate to gain residence rights or citizenship of another country affords investors the benefits of owning real estate, and more since they are more than likely to break even and could turn a profit after just five years. Furthermore, owners can live in their properties, use them as vacation homes, or rent them out to create an additional income stream," said Dr. Juerg Steffen, FIMC, is the Chief Executive Officer of Henley & Partners.
