The lure of a 'golden visa,' offering residency (and sometimes even citizenship) in exchange for significant investment, has long captivated high-net-worth individuals. These programs, officially known as Residency by Investment (RBI) and Citizenship by Investment (CBI), provide access to new markets, improved lifestyles, and enhanced mobility. However, in recent years, these programs have faced increased scrutiny and reform, leading many to wonder: **where can you still secure a golden visa in 2025-2026?

This article dives into the current landscape of golden visa programs, highlighting countries that are likely to continue offering them and exploring the trends shaping their future.

The Allure and the Controversy:

Golden visas offer numerous benefits to investors, including:

Increased Mobility: Visa-free travel to various countries.
Improved Quality of Life: Access to superior education, healthcare, and a stable political environment.
Business Opportunities: Access to new markets and business networks.
Tax Advantages: Depending on the country, potentially advantageous tax regimes.
Contingency Plan: A secure alternative residency or citizenship in times of political or economic instability in their home country.

However, golden visa programs have also been criticized for:

Security Risks:Concerns about money laundering, tax evasion, and the potential facilitation of criminal activity.
Inflation and Housing Market Impact: Driving up property prices and potentially displacing local communities.
Ethical Concerns: Concerns that citizenship should not be bought and sold.

These criticisms have led to increased pressure from international organizations and governments, resulting in tighter regulations and even the suspension of programs in some countries.

Which Countries are Likely to Offer Golden Visas in 2025-2026 ?

Despite the challenges, several countries are expected to continue offering golden visa programs in 2025-2026, albeit possibly with revised terms and conditions. Here's a look at some key players:

European Union:

Greece: A popular choice due to its relatively affordable real estate investment option. The program requires a minimum investment in property, and despite increases in certain regions, it remains attractive.
Portugal: Once a highly sought-after program, Portugal has undergone significant changes. While the real estate investment option is largely phased out, investment in qualifying funds and other investment options remain. The program is expected to continue, albeit with stricter scrutiny.
Spain: Similar to Greece, Spain offers a residency permit for non-EU citizens who invest in real estate. The future of the program is under review, but it is currently still available.
Malta: Offers both residence and citizenship by investment programs. The citizenship program is particularly strict, with rigorous due diligence and substantial investment requirements. The residence program remains a viable option.
Italy: The Italian Investor Visa program requires investment in Italian companies, government bonds, or innovative startups. It remains an attractive option for those looking to contribute to the Italian economy.

Caribbean:

St. Kitts and Nevis: One of the oldest CBI programs, offering several investment options, including a contribution to the Sustainable Growth Fund or real estate investment.
Dominica: Known for its affordability and efficiency, Dominica's CBI program offers similar investment options as St. Kitts and Nevis.
Grenada: A key benefit of Grenada's CBI program is visa-free access to China, along with other investment options.
Antigua and Barbuda: Offers investment options including a contribution to the National Development Fund or real estate purchases.
St. Lucia: The newest of the Caribbean programs, offering various investment routes, including a donation to the National Economic Fund or investment in real estate.

Other Regions:

Turkey: Offers citizenship for investment in real estate or capital investment. Its strategic location and growing economy make it an attractive option.
Montenegro: Although the program is officially closed to new applicants, there is the possibility of revival in the future due to economic pressures.

Important Considerations and Trends:

Enhanced Due Diligence: Countries are implementing stricter due diligence procedures to vet applicants and ensure the integrity of their programs. Expect more rigorous checks and greater transparency.
Investment in Growth Sectors: Programs are increasingly prioritizing investments that contribute to the country's economic development, such as renewable energy, technology, and job creation.
Increased Minimum Investment Amounts: Many countries are raising the minimum investment required to qualify for a golden visa.
Pressure from International Organizations: The EU and other international organizations are pushing for increased regulation and harmonization of golden visa programs.
Shift Away from Real Estate: There's a noticeable trend away from relying solely on real estate investment and towards diversifying investment options, such as government bonds, funds, and business ventures.

The Future of Golden Visas:

While the future of golden visa programs remains uncertain, it's likely that they will continue to exist in some form. However, they are evolving, becoming more sophisticated, more transparent, and more closely aligned with national economic goals.

Before investing in a golden visa program, it is crucial to:

Conduct thorough research: Understand the program's requirements, benefits, and risks.
Seek professional advice: Consult with immigration lawyers, financial advisors, and tax experts to ensure you are making an informed decision.
Consider your long-term goals: Determine if the program aligns with your personal and professional aspirations.

The landscape of golden visas is constantly changing. Staying informed and seeking expert guidance are essential for navigating this complex and potentially rewarding world. In 2025-2026, those who approach these programs with due diligence and a clear understanding of the evolving rules will be best positioned to benefit from the opportunities they offer.