Malta Retains Top Spot in 2025 Global Citizenship Program Index

Highlighting the dominance of European residence and citizenship by investment programs, Malta has retained top spot in the 2025 Global Citizenship Program Index for the 10^th consecutive year, while Greece reaches the top of the 2025 Global Residence Program Index for the first time, according to Henley & Partners’ annual rankings of the most important investment migration programs in the world.

The firm on-boarded clients from 94 different nationalities in 2024 and received enquiries from over 180 countries. US nationals accounted for 23% of all applications processed by Henley & Partners last year, totalling nearly as many as the next four client nationality groups — Indians, Turkish, Filipinos, and Brits — combined.

Comparing 2024 US-American client numbers to five years ago (2019), there has been a staggering increase of over 1,000%. Last year was also record-breaking for the UK, with a 57% increase in the number of applications submitted by British citizens in 2024 versus 2023.

The two indexes, featured in the 2025 edition of the annual Investment Migration Programs report, offer a systematic analysis and comprehensive benchmarking of the world’s most attractive residence and citizenship by investment offerings, providing the gold standard in the sector.

Dr Christian H. Kaelin, international immigration and citizenship law expert and Chairman of Henley & Partners, said that the Investment Migration Programs 2025 is essential for all those interested in keeping up to date with developments in the sector or considering residence or citizenship by investment as a diversification and risk mitigation strategy.

The Global Citizenship Program Index ranked 14 programs, with Malta scoring 76 out of 100 and taking top honours for the 10^th consecutive year. Malta’s Granting of Citizenship for Exceptional Services by Direct Investment Regulations allow for the granting of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the country’s economic development.

Retaining 2^nd place with a score of 75 was Austria’s premium citizenship by investment offering, which requires applicants to make a substantial contribution to the country’s economy. The next two ranks are occupied by Caribbean island nations: Grenada 3^rd with a score of 69, and Antigua and Barbuda 4^th with 67.

Three other Small Island Developing States (SIDS) share the 5th spot, each scoring 66. Nauru, the newcomer to the index, along with St. Kitts and Nevis and St. Lucia. Nauru’s citizenship program offers significant advantages in global mobility, granting an alternative and safe passport to travel on, with visa-free access to some of the world’s key wealth hubs.

Dominica, another Caribbean island nation, has been ranked 6^th with a score of 65, followed by Turkiye in 7^th place, providing investors with easy access to Asian, European, and Middle Eastern markets and offering multiple routes to citizenship, including a real estate option.

Across the Mediterranean, Egypt, Africa’s only citizenship program option, ranks 8^th, a position it shares with Jordan and North Macedonia, all scoring 63. The last two ranks are occupied by 9^th-placed Vanuatu with a score of 60, and Cambodia 10^th with 53.

Residence Programmes

In the 2025 Global Residence Program Index, Greece’s increasingly popular golden visa program secures top spot with a score of 73 out of 100, toppling Portugal, which has held or shared first place for the past nine years.

Portugal now ranks joint 3^rd with Italy and the UK, all scoring 70, while Switzerland, which has an option developed by Henley & Partners that combines private residence with Swiss forfait tax provisions, was placed 2^nd with a score of 72.

Australia, which recently launched its National Innovation Visa (NIV) Program to attract high-level tech skills, Canada, which introduced changes to its Start-Up Visa Program to enhance its appeal and flexibility for entrepreneurs, and Spain (due to close in early 2025) are all joint 4^th, each scoring 69, and the UAE, which strategically expanded its golden visa program last year to attract top talent and drive growth and innovation, rounds up the Top 5 with a score of 68.