Golden Visa, Residence or Citizenship by Investment: What Each Route Gives You
A golden visa is a residence permit, while citizenship by investment is a passport. A plain guide to the differences, with the Portugal example and the questions to ask.โฆ
Photo: Marina Leonova / Pexels
As of 6 November 2026.
The short answer. A golden visa or residence by investment gives a person the right to live in a country, usually on conditions. Citizenship by investment gives a passport. The two are separate legal processes with different requirements, rights and timelines, and a change to one does not automatically change the other.
The three routes compared
| Golden visa or residence by investment | Citizenship by investment | |
|---|---|---|
| What it gives | A residence permit to live in the country | Nationality and a passport of that country |
| Conditions | Often tied to keeping the qualifying investment and meeting stay requirements | Set by each programme; the person becomes a national |
| Path to citizenship | Usually only after a statutory period of legal residence | Granted through the programme itself |
| Where it is offered | Several European and Gulf countries, among others | A small number of countries, including five in the Caribbean |
This table describes the general structure of the two route types. Each country sets its own rules, which differ by nationality and change often.
Residence is not the same as citizenship
Portugal shows why the difference matters. According to The Portugal News, the country's revised Nationality Law was signed by the President in May 2026, and most applicants from outside the EU and the Portuguese-speaking countries now need ten years of legal residence before they can apply for citizenship, up from five. The same reporting says the rules for permanent residence are unchanged: holders of qualifying visas, including golden visas, can still apply after five years, provided they meet the standard conditions. A change to citizenship timing therefore did not remove the residence route. How the change applies to people who have already applied should be confirmed with the Portuguese authorities.
Who is applying
Henley & Partners says that in the first five months of 2026 it received applications from 86 nationalities across 47 investment migration programmes, and that more than 28% of applicants live outside their country of nationality. Henley says applications from US nationals doubled in 2025 compared with 2024. Our guide to the Henley report sets out how it scores each country.
What programmes tend to ask for
The conditions below are the kinds of requirement that the programmes of different countries set, which investors should check on each government's official site:
- A qualifying investment, which can be property, a fund, a business or a government contribution, depending on the country.
- Due diligence on the applicant and the source of funds.
- Minimum stay requirements, which can range from very short visits to extended residence.
- Rules on which family members can be included.
- Rules on exiting the investment, which can restrict when capital can be withdrawn.
Frequently asked questions
Is a golden visa the same as citizenship?
No. A golden visa is a residence permit. Citizenship is nationality. Getting one does not automatically give the other, and the timelines and requirements differ.
Can a golden visa lead to a passport?
In many countries, a person who holds residence for a statutory period can apply for citizenship, subject to that country's rules. Portugal, for example, now asks most applicants from outside the EU and the Portuguese-speaking countries for ten years of legal residence, according to The Portugal News.
Which Caribbean countries offer citizenship by investment?
Five: St Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada and St Lucia. Each runs its own programme under its own government's rules.
Do investors need to live in the country?
It depends on the programme. Residence routes often set minimum stay requirements, and citizenship routes set their own conditions. Check the programme's official government site.
Before you decide
- Check each country's official immigration site for the current rules.
- Ask who is paid, and by whom, for recommending a particular programme.
- Remember that rules can change while an application is in progress.
- See how the end of the UK non-dom regime has changed the options for some families in our UK explainer.
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Sources: The Portugal News; Henley & Partners press release, 16 June 2026.
This article is general information and does not constitute legal, financial or tax advice.
Written by
TPC Editorial Desk
The Platinum Capital editorial desk
Articles on The Platinum Capital are produced by the TPC editorial desk with the assistance of AI tools, and edited before publication. Profiles are based on information provided by the subject and checked against public sources. Reach out at info@theplatinumcapital.com.
