Which Investment Migration Programs Involve Pure Spending?

Today, we wrap up our discussion on the final category of investment migration. Previously, we covered real estate-based, deposit-based, and financial product-based programs. For this final category, I want to summarize the programs that involve pure spending—what you might call unrecoverable expenditure where funds are directly spent rather than invested.

The conclusion regarding this category is quite fascinating. When I recently compiled a list to see how many such programs actually exist, I counted only 13—a number that surprised me and ran counter to my general impression. After working in this industry for 27 years, I had somehow never realized this. I used to assume that a large portion of the immigration industry consisted of programs where you simply hand over money to acquire a status.

However, out of roughly 170 programs that Globevisa Group handles, if we exclude the aforementioned categories—deposits where clients do not actually spend their money, real estate acquisitions, and financial products—and various other pathways such as entrepreneurship, academic qualifications, high salaries, retirement pensions, professional talent, or securing employment with a salary like the US EB-3 program—the math changes significantly.

I realized that only about 8% of our programs—fewer than 13 in total—truly involve pure spending. For the remaining 92%, if you meet the specific qualifications, you are not simply paying a non-refundable fee. This realization was quite an eye-opener for me, as I had not consciously noticed it before.

1. Nine Citizenship-by-Investment Programs

Let me briefly touch upon these programs, which are simpler than one might expect. Those involving outright spending are primarily citizenship-by-investment (CBI) programs.

Among them are the five Caribbean nations: Saint Lucia, Dominica, St. Kitts and Nevis, Antigua and Barbuda, and Grenada. While Grenada offers eligibility for the US E-2 visa, and Antigua is notably scenic, these countries share similar characteristics with minor variations. They have relatively small populations and compact land areas.

Beyond the Caribbean, there are four additional citizenship programs:

● São Tomé and Príncipe (Africa): Requires a $90,000 investment.

● Nauru (Pacific Ocean): Approximately $90,000.

● Vanuatu: Around $80,000.

● El Salvador: Requires $1,000,000, which is exceptionally high and suited for ultra-high-net-worth individuals.

These roughly nine programs grant citizenship in exchange for non-refundable contributions or investments. Aside from these, there are only a few other pure-spending programs.

2. Portugal’s €200,000 Donation Option

Let’s start with a well-known European destination. While Portugal is widely recognized for its €500,000 fund investment option, it also offers a €200,000 cultural donation pathway.

Though structured as a cultural contribution rather than a simple write-off, the capital is entirely spent. Interestingly, while the €500,000 fund remains popular, roughly one-third of our clients actually choose the €200,000 donation option instead, preferring a lower upfront expenditure over an investment fund.

3. Malta: A Frequently Overlooked Jurisdiction

Another notable option is Malta. Through various government administrative fees and contributions totaling around €100,000 in non-refundable costs, applicants can secure permanent residency in Malta.

In the European context, two jurisdictions are frequently overlooked by applicants: Cyprus (which I discussed in a previous article on real estate migration pitfalls) and Malta. Why are they so often missed? Primarily because most applicants have never visited them. In reality, both nations are predominantly English-speaking, maintain affordable living costs, and offer high standards of infrastructure.

Malta is remarkably compact, covering just over 200 square kilometers. In such a small country, you become familiar with your surroundings very quickly. Furthermore, it is both a Schengen Area member and an EU member state. If you are seeking a permanent residence for long-term living, children's education, or a lifestyle change, both Cyprus and Malta are well worth visiting and evaluating.

(An interesting aside: When traveling from Cyprus to Turkey due to a lack of direct flights, I initially routed through Greece before discovering a regional connection via Northern Cyprus. Geopolitically, Greece and Turkey have historical rivalries, yet practically, economic ties are strong. For instance, Turkey represents a major market for Greek golden visas, alongside strong international demand.)

Malta also offers favorable tax structures. Many international enterprises establish their European headquarters in Malta due to its tax efficiency, making it a jurisdiction worth exploring closely.

4. Vanuatu Permanent Residency

Another unique option is the Vanuatu permanent residency program, which requires a modest fee and can be issued rapidly. While some clients utilize it for specific administrative documentation updates during transitional periods, it serves as a legally recognized residency framework for those seeking an accessible secondary status.

5. Thailand Elite Residence Program

Finally, there is the Thailand Elite Residence program. Briefly put, it offers a 5-year residency status for a fee starting around THB 600,000 (roughly equivalent to about $18,000–$20,000 USD), with tiered options extending up to 15 years for higher contributions.

However, one important distinction is that this status grants long-term stay and access to airport concierge services, but it does not grant work authorization in Thailand.

When I first encountered this program, I wondered who would purchase a long-term visitor visa when Thailand is already accessible for tourism. Over time, market demand proved me wrong. Thousands of applicants from Europe, North America, and globally choose this program because they find living long-term in Thailand or Southeast Asia aligns perfectly with their lifestyle preferences.

A Shift in Perspective

Visiting destinations like Thailand, Bali, and Indonesia frequently has broadened my perspective. I used to wonder why so many Western expatriates chose to base themselves long-term in Southeast Asia.

After expanding my international circle and speaking with English-speaking friends living abroad, I began to understand. For them, regions like Thailand and Bali offer world-class infrastructure, exceptional hospitality, favorable climates, and high-end fitness and wellness facilities at a fraction of the cost of living in their home countries. Many note that the cost of living for a single year at home can comfortably sustain them in Southeast Asia for five to ten years while maintaining a high quality of life. This economic and lifestyle alignment explains the steady global demand for programs like the Thailand Elite visa.

Overall, pure-spending programs represent a distinct and specialized category within investment migration. I hope these insights help clarify the full landscape of global residency and citizenship options.

Thank you for reading. If you are interested in compliant investment migration strategies tailored to your goals, please feel free to leave a message.