The landscape of citizenship‑by‑investment (CBI) programs is shifting rapidly. Of the 14 countries that have publicly discussed new CBI schemes in the past six years, only a handful are moving toward implementation, while many remain stalled or have been quietly abandoned. Below is a concise overview of each nation’s current status, key figures, and the political or regulatory factors that could affect prospective investors.
Confirmed or Near‑Term Launches
Saint Vincent and the Grenadines – Launch scheduled for 2026
- Announcement by Prime Minister Godwin Friday (Dec 2025) frames the program as a “critical economic pillar” for a nation carrying roughly $1 billion in public debt.
- Public support appears strong (62 % in a 2025 survey).
- Oversight will follow the Caribbean model (Granada and ECCIR reforms) with multi‑layer vetting and government‑controlled processes.
- No investment minimums have been disclosed yet.
Argentina – Program formalized, awaiting final design
- Decree 524/2025 (July 2025) created a dedicated agency within the Ministry of Economy to run the CBI scheme.
- A 4‑year consulting contract was tendered in Dec 2025; six proposals were submitted by Jan 2026.
- Early, non‑binding reports suggest an investment threshold between US$350,000 – US$500,000.
- Government targets: up to 5,000 favorable recommendation reports in the first contract period, with a performance clause of at least 200 approvals by month 24.
- Benefits touted include visa‑free access to the Shenzhen visa‑free zone and fast‑track residency rights in nine South American countries.
Programs in Legislative or Planning Stages
Nigeria – House of Representatives passed CBI bill (Apr 2025); Senate pending
- If enacted, the program would be the first of its kind in Africa’s largest economy.
- Current demand is high: over 1,000 Nigerians in 2025 inquired about foreign citizenship through Henium Partners.
- The domestic passport offers limited travel freedom, so the CBI’s appeal would likely rely on ancillary benefits (e.g., investment opportunities, tax incentives).
Tonga – Proposed re‑launch, no firm date
- Historical context: 7,000 passports sold in the 1980s–90s raised US$26 million before the scheme collapsed.
- A leaked 2025 proposal (Henley & Partners) outlines contributions of US$190,000 for single applicants and US$220,000 for families of 2‑4 members, non‑refundable.
- The proposal emphasizes multi‑layer vetting and government‑controlled funds, but political sensitivity remains high.
Programs Blocked by External Pressure
Albania – Infrastructure ready but EU opposition stalls launch
- Prime Minister Eddie Rama announced intent in 2019; a drafting agency and PPP were set up by 2022.
- The European Commission repeatedly warns that a CBI scheme conflicts with Albania’s EU accession goals, labeling it “incompatible with European values.”
- As long as Albania pursues EU membership, the program remains frozen.
Initiatives That Pivoted to Residency
Armenia – Citizenship proposal abandoned; fast‑track investor residency introduced
- 2022 draft set a $150,000 investment threshold for citizenship, but political opposition halted the plan.
- In Nov 2025, a 5‑year investor residency track was announced, slated to start late 2026.
Uzbekistan – Citizenship bill shelved; donation‑based golden visa launched
- 2022 bill proposed a $1 million citizenship investment, but dual‑citizenship restrictions and high cost deterred progress.
- June 2025 saw the introduction of a US$250,000 donation‑based golden visa instead.
Announced but Effectively Abandoned
| Country | Last Public Action | Notable Details |
|---|---|---|
| Solomon Islands | Draft CBI bill (Sept 2024) → reversal (May 2025) | Drafted a program with $500k‑$1 million tiers; passport offers visa‑free access to 132 destinations, including Shenzhen, Canada, and the UK. |
| Kenya | CBI floated (2019) – “moving quickly” (2021) | Targeted investment around US$200,000; no further progress reported. |
| Rwanda | Cabinet approved draft bill (Oct 2020) | No standalone CBI program materialized. |
| Suriname | President mentioned CBI (Sept 2022) | No subsequent developments. |
| Laos | Decree for honorary citizenship (Oct 2022) – price US$1.5 million | Honorary status and high cost raised skepticism; no updates since. |
| Papua New Guinea | Investor pathways explored (source: IMI) | No official program announced. |
| Maitius (African nation) | Proposed CBI at $1 million and $500 k (2018‑19) | No launch; one of two African countries with Shenzhen visa‑free access. |
Key Risks and Considerations
- Political volatility – Programs can be halted or reversed by changes in government, as seen in Tonga, Albania, and the Solomon Islands.
- International pressure – The United States has suspended visa privileges for Antigua and Barbuda and Dominica over CBI concerns; the EU is urging Caribbean programs toward discontinuation. Such pressure may affect future approvals or the attractiveness of existing schemes.
- Regulatory uncertainty – Many proposals lack published investment minimums, timelines, or clear vetting procedures, increasing the risk of mis‑aligned expectations.
- Reputation and due diligence – Past scandals (e.g., Tonga’s 1980s‑90s passport sales) highlight the importance of robust, government‑controlled oversight to avoid fraud or misuse.
Practical Advice for Prospective Investors
- Monitor official gazettes – The most reliable source for program status is the government’s official publication.
- Assess geopolitical risk – Consider how US or EU actions might impact travel freedom or the longevity of a CBI scheme.
- Verify investment thresholds – Until thresholds are officially published, treat any figures as provisional.
- Prioritize programs with clear oversight – Multi‑layer vetting and transparent fund management (e.g., Saint Vincent’s model) reduce the likelihood of corruption.
- Consider residency alternatives – Where citizenship is uncertain, fast‑track investor residency (as in Armenia and Uzbekistan) may provide a viable pathway to long‑term stay and eventual naturalization.
The CBI market remains fluid. While Saint Vincent and the Grenadines and Argentina appear poised to launch soon, many other jurisdictions are still navigating political, regulatory, or reputational hurdles. Investors should stay vigilant, conduct thorough due diligence, and be prepared for possible delays or cancellations.
