The global migration landscape is evolving rapidly, particularly for affluent Indians seeking second citizenship or residency abroad. The recent closure of Malta’s Golden Passport scheme has prompted a significant shift in interest towards other alternatives. As access to one of the EU’s most appealing citizenship-by-investment (CBI) programs comes to an end, high-net-worth individuals (HNWIs) from India are broadening their search and exploring options across Europe, the Americas, and the Caribbean.
Malta’s Individual Investor Programme (IIP), commonly known as the Golden Passport scheme, allowed foreign investors to acquire Maltese citizenship in exchange for a significant financial contribution. It provided access to the European Union, including visa-free travel across the Schengen zone, and a host of lifestyle and business benefits. However, the program came under intense scrutiny from the European Commission, citing concerns over due diligence and security loopholes. As a result, Malta ceased accepting new applications under the scheme, leaving many Indian investors searching for equally advantageous pathways.
In the wake of Malta’s closure, European alternatives are gaining traction among Indian investors. Among the most prominent are the Greek Golden Visa and the Portugal Golden Visa.
Greece’s residency-by-investment program is renowned for its low entry threshold—a real estate investment of just €250,000, one of the most affordable in Europe. This visa grants residency for the entire family, including dependent children and parents, with visa-free access to the Schengen area. Although it does not offer immediate citizenship, it provides a secure foothold in Europe and a potential pathway to naturalization after seven years.
Portugal’s program has long been a favorite for Indians seeking a balance between lifestyle, flexibility, and investment opportunity. While recent reforms have limited property investments in urban hotspots like Lisbon and Porto, alternative routes such as fund investments and supporting cultural heritage projects are still available. The Portugal Golden Visa allows for permanent residency and eventual citizenship, with only minimal stay requirements.
For Indian families seeking long-term stability, education opportunities, and access to the world’s largest economy, the US EB-5 Immigrant Investor Program remains a compelling choice. By investing a minimum of $800,000 in a Targeted Employment Area (TEA) through a regional center, investors can obtain a green card for themselves and their immediate family members.
With the United States continuing to be a top destination for Indian students and entrepreneurs, the EB-5 program is especially attractive for those seeking permanent residence and eventual citizenship. Recent reforms under the EB-5 Reform and Integrity Act have further strengthened the program’s transparency and investor protections.
In parallel, Caribbean citizenship-by-investment programs have emerged as fast-track solutions for global mobility and tax efficiency. Grenada and Dominica are particularly popular among Indian investors due to their cost-effectiveness, favorable tax regimes, and quick processing times.
Grenada
Grenada is unique in offering visa-free access to over 145 countries, including China and the UK. What sets Grenada apart is its E-2 visa treaty with the US, which allows citizens to apply for a non-immigrant visa to live and work in the US by starting a business. This indirect access to the US makes Grenada a strategic choice for Indian entrepreneurs.
Dominica
Dominica offers one of the most affordable CBI programs, with contributions starting at $100,000. It also boasts visa-free travel to 140+ countries, no wealth, gift, or inheritance taxes, and a streamlined application process that can lead to citizenship within 3–6 months. Dominica’s political stability and neutral stance make it a solid option for global citizens.
Several factors contribute to the growing interest in alternative residency and citizenship programs:
As the doors close on Malta’s Golden Passport scheme, a new era of global mobility is unfolding for wealthy Indians. With a growing number of high-value options—from European residencies to Caribbean citizenships and Middle Eastern long-term visas—the landscape is brimming with opportunity. The choice of destination now depends on personal goals: whether it’s global mobility, tax optimization, lifestyle upgrade, or securing the future of one’s family.
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