The Reduced History of Migration by Investment

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Migration by investment, or investment migration as it’s more commonly known, has a long and storied history. This article offers a concise summary of this field’s fascinating background. Dip in to receive an overview of migration by investment’s surprising heritage.

Defining Migration by Investment

Essentially, migration by investment, aka investment migration, is a quid pro quo arrangement. In return for an investment, typically a donation or purchase of property within a government-approved development, a country allows you to join its migration programme.

The two main types of programme are Residency by Investment (RBI) and Citizenship by Investment (CBI), collectively referred to as RCBI.

However, where there’s always investment, there’s not always migration. Some investors don’t want to move to a new country.

Third-country nationals (TCNs), i.e non-EU citizens, might want a European Residency by Investment so they can access the Schengen Area for business and leisure travel. Or they favour a Citizenship by Investment that enables them to apply for a stronger passport to boost their global mobility. They do so via the increased number of visa-free countries visitable with their new travel document.

The History of Citizenship by Investment

Citizenship by Investment dates back to Ancient Rome and its Days of Empire. We know this thanks to Acts 22, the 22nd chapter of the Acts of the Apostles in the New Testament. It chronicles a conversation between a Roman tribune and St Paul where the tribune reveals that “it cost me a large sum of money to get my citizenship.”

In contemporary times, the oldest CBI is St Kitts and Nevis Citizenship by Investment. While the programme launched in 1984, it accelerated in importance in the mid-Noughties. 

This followed St Kitts and Nevis closing down its sugar-producing industry and encouraging investors to contribute $250,000 to the Sugar Industry Diversification Foundation (SIDF) which has evolved into the Sustainable Island State Contribution (SISC).

St Kitts and Nevis’ forays into migration by investment inspired fellow Eastern Caribbean countries such as Antigua and Barbuda, Dominica, Grenada, and St Lucia to start their own investment migration initiatives.

The Caribbean remains the main CBI region although you can now invest in citizenship in Europe (Malta), Oceania (Vanuatu), and in Türkiye too.

Residency by Investment’s Back Story

Canada is considered the birthplace of Residency by Investment. This is due to its innovative Immigrant Investor Program, paving the way for imitators after becoming available in 1986. These days, its most prominent RBI is the Canada Start-Up Visa.

One of the countries to launch a copycat programme was the US who debuted with the EB-5 Investor Visa in 1990. The UK entered the market four years later with its Tier 1 Visa. This has since been rebranded as the Innovator Founder Visa.

The New Millennium brought a number of fresh new European Residency by Investments known as golden visas. Indeed, the Greek, Portuguese, and Spanish Golden Visas have become more popular after Brexit which saw the UK depart the EU and Brits lose visa-free access to the 27 countries of the Schengen Zone. 

In the Caribbean, Latitude helped devise and set up Anguilla Residency by Investment. There are also RBI programmes in the Cayman Islands, Malta (the one true RCBI nation), and the UAE.

How to Secure Migration by Investment

If you’re interested in investment migration, take a first step and talk to a Residency and Citizenship by Investment specialist such as Latitude. Our experienced advisors have helped over 6,500 clients acquire a new citizenship or second residency. So, don’t delay and contact us today.