Residency vs citizenship by investment: the real differences

Investment migration programs fall into two families. Knowing which one you need saves money and avoids disappointment.

Residency by investment

You receive a residence permit. You keep your current nationality and you get the right to live in the country, within the conditions of the permit. Examples today: Greece, Portugal, Italy and Malta (permanent residence).

• Conditions apply: keeping the investment, sometimes a minimum stay, and renewals.
• Citizenship is not included. It is a separate, later step with its own residence period and tests, if it is available at all.
• Rights such as working depend on the program (Greece’s permit, for example, does not give the right to work).

Citizenship by investment

You become a citizen and receive a passport. Grenada is the program in our list that works this way today. These programs tend to be more expensive, are politically sensitive and are changing: the EU Court of Justice ruled against Malta’s scheme in April 2025, and Grenada is under an independent review announced in September 2026.

• A second passport may not be allowed by your home country; check this first.
• A Caribbean passport does not give the right to live in the EU.

Questions to ask yourself

1. Do I need to live somewhere, or to travel more easily?
2. Is my family included, and for how long?
3. Can I hold a second nationality?
4. Am I comfortable with real estate, a fund or a business investment for several years?
5. How will I be taxed once I have the permit or passport?

There is no universal best answer. Our advisors will tell you which option fits, and when none does.

Sources

1. Court of Justice of the EU: press release on Commission v Malta (C-181/23)
2. IMA Grenada: notices
3. Greece: Law 5100/2024, Article 64

Last verified against the sources below on 11 October 2026. Programs change; always confirm the current rules before investing. This article is general information, not legal or tax advice.

Want to know which option fits your situation? Request a free call and an advisor will give you a straight answer, including when you should not invest.