Report on Investment Migration and its Alignment with Sustainable Development Goals
A comprehensive analysis of current trends in Citizenship-by-Investment (CBI) and Residency-by-Investment (RBI) programs reveals a significant increase in applications from citizens of the United States and the United Kingdom. This migration is driven by a confluence of political, social, and economic factors, with affluent individuals seeking to mitigate risk and enhance global mobility. These investment migration programs, when properly governed, can serve as a mechanism for advancing several of the United Nations’ Sustainable Development Goals (SDGs), particularly in host nations.
Analysis of Current Investment Migration Trends
Immigration specialists report a notable surge in interest for CBI and RBI schemes, particularly from Western nations. This trend is largely a response to domestic instability, including high taxation, recessionary pressures, and political uncertainty.
Key Drivers and Motivations
The primary motivations for seeking alternative citizenship or residency are multifaceted and align with broader goals of economic and social stability.
- Economic Stability (SDG 8): Applicants are seeking to escape unfavourable tax regimes and economic volatility, aiming to secure wealth and ensure decent work and economic growth on a personal level.
- Risk Mitigation and Security (SDG 16): A desire for a “plan B” in response to political polarisation and social unrest reflects a search for peace, justice, and security.
- Access to Opportunity (SDG 4 & SDG 10): For many, particularly those from developing nations, these programs provide access to superior educational institutions for their children and reduce inequalities in global mobility.
Applicant Demographics
Data from advisory firms indicates a clear demographic shift in the applicant pool for investment migration programs.
- United States
- Turkey
- India
- China
- United Kingdom
Henley & Partners recorded a 60 per cent growth in applications from US citizens in 2024, with 2025 numbers already surpassing the previous year’s total by 55 per cent. This coincides with a decline in the power of the US passport, which has fallen out of the top 10 for the first time in two decades.
Contribution of Investment Migration to Sustainable Development
CBI and RBI programs channel significant foreign direct investment into host countries, which can be strategically utilized to support national development priorities in line with the SDGs.
SDG 8: Decent Work and Economic Growth
The majority of countries offering CBI programs are small island nations that benefit significantly from the influx of capital. These funds are often directed into national development funds, which support economic diversification, job creation, and sustainable growth, directly contributing to the targets of SDG 8.
SDG 11: Sustainable Cities and Communities
Investment options frequently include real estate purchases. This capital can be used to develop sustainable infrastructure and improve housing, making cities and human settlements more inclusive, safe, resilient, and sustainable.
SDG 10: Reduced Inequalities
While applicants seek to overcome personal mobility inequalities, the revenue generated for host nations can be used to fund social programs, improve public services, and build infrastructure that benefits all citizens, thereby helping to reduce inequalities within and among countries.
Regulatory Frameworks and Alignment with SDG 16
Growing international scrutiny has prompted a significant enhancement of due diligence and governance standards within the investment migration industry, aligning with SDG 16 (Peace, Justice and Strong Institutions).
Enhanced Governance and International Cooperation (SDG 17)
In response to concerns from the European Union and the United States regarding security, money laundering, and tax evasion, host countries are strengthening their regulatory frameworks.
- Caribbean Agreement: In March 2024, five Caribbean nations signed a memorandum to standardise their programs, increasing the minimum investment threshold to $200,000 to ensure program integrity and foster regional partnership (SDG 17).
- US and EU Directives: The US has mandated that 36 countries meet stringent vetting standards or face visa bans. The EU has successfully pressured Malta and Cyprus to end their traditional CBI schemes.
Market Recalibration
This regulatory tightening has led to a recalibration of the market. While demand has dipped for some Caribbean and European programs due to price increases and closures (e.g., Spain’s golden visa), it has also reinforced the importance of robust and transparent institutions.
The Evolving Landscape of Global Mobility
Client preferences are shifting from immediate citizenship towards more flexible residency pathways that offer long-term mobility and settlement options.
Popular Destinations and Program Types
- Caribbean: Grenada, Saint Kitts & Nevis, and Saint Lucia remain cornerstones of the CBI market.
- Europe: Portugal and Greece dominate the RBI segment, offering EU mobility.
- Middle East: The UAE has become a major hub for residency pathways, including its Golden Visa and virtual work programs.
- Emerging Programs: Newer options in Costa Rica, New Zealand, and El Salvador (Bitcoin-linked residency) are gaining traction.
Future Outlook
A hybrid strategy is becoming more common, wherein individuals secure residency as an initial step while planning for eventual citizenship. The rise of digital nomad and freelancer visas is also reshaping the landscape, offering mobility alternatives that cater to a modern, flexible workforce.
Procedural and Financial Overview
The process for obtaining alternative residency or citizenship involves significant financial investment and rigorous documentation, underscoring the due diligence process critical to SDG 16.
Investment Costs
Costs vary based on the program and family size.
- Donation Route: A single application via a government fund donation is approximately $230,000, including fees.
- Real Estate/Business Investment: This option typically exceeds $300,000 per application.
Documentation and Verification Requirements
Applicants must undergo a thorough review process, submitting comprehensive documentation to prove their identity, source of funds, and good character.
- Proof of Identity: Passports, birth certificates, and national IDs.
- Proof of Residency: Utility bills and property deeds or rental contracts.
- Source of Funds: Business documentation for owners; employment letters and bank statements for employees.
- Proof of Good Conduct: Police clearance certificates from the country of birth and residence.
- Proof of Health: Medical examinations and health certificates.
Analysis of Sustainable Development Goals in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
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SDG 8: Decent Work and Economic Growth
The article discusses Citizenship-by-Investment (CBI) and Residency-by-Investment (RBI) programs as lucrative schemes that contribute to the economies of host countries, particularly small island nations. These investments in real estate, government bonds, and national development funds represent a significant source of foreign capital, aligning with the goal of promoting sustained, inclusive, and sustainable economic growth.
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SDG 10: Reduced Inequalities
The article focuses on the migration and mobility of high-net-worth individuals, which is a facet of global inequality. It touches upon Target 10.7, which deals with facilitating orderly and well-managed migration. While these programs are a form of managed migration, they are accessible only to the affluent, highlighting the economic disparities that influence mobility rights. The article also notes that citizens from developing regions seek these programs for “global mobility, family security and educational access,” pointing to the inequalities between nations that drive migration.
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SDG 16: Peace, Justice and Strong Institutions
This SDG is highly relevant due to the article’s discussion of the risks associated with CBI/RBI programs. The European Union’s concerns about “money laundering, tax evasion and corruption” directly connect to the goal of building effective, accountable, and transparent institutions. The article highlights measures to strengthen these institutions, such as increased due diligence, “stringent vetting and information-sharing standards,” and the requirement for applicants to provide proof of funds and police clearance certificates.
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SDG 17: Partnerships for the Goals
The article illustrates international cooperation and the need for policy coherence. The agreement signed by five Caribbean governments to standardize their investment thresholds is an example of a regional partnership. Furthermore, the pressure exerted by the US and the EU on countries with CBI programs to improve their standards demonstrates international efforts to create policy coherence for financial and security matters. These programs also represent a form of foreign direct investment, which is a key component of mobilizing financial resources for development.
2. What specific targets under those SDGs can be identified based on the article’s content?
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Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries.
The article states that “the majority of countries offering CBIs are small, isolated islands, whose economies benefit from these lucrative schemes.” The financial inflows from these investment programs directly contribute to the GDP and economic growth of these host nations.
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Target 10.7: Facilitate orderly, safe, regular and responsible migration and mobility of people, including through the implementation of planned and well-managed migration policies.
CBI and RBI programs are described as structured, policy-driven pathways for migration. The article details the application process, costs, and documentation, showing they are a form of “planned and well-managed migration policies,” albeit for a specific economic class.
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Target 16.4: By 2030, significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organized crime.
This target is addressed through the concerns raised by the EU regarding “risks of money laundering, tax evasion and corruption.” The implementation of “stringent vetting” and enhanced due diligence processes, as mentioned in the article, are direct actions aimed at reducing illicit financial flows through these programs.
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Target 17.3: Mobilize additional financial resources for developing countries from multiple sources.
The article explains that CBI/RBI programs require applicants to make “specific financial investments in immovable property, government bonds, or national development funds.” This is a direct mechanism for mobilizing financial resources from foreign individuals for host countries, many of which are developing nations.
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Target 17.14: Enhance policy coherence for sustainable development.
The article provides examples of efforts to enhance policy coherence. The agreement between five Caribbean nations to standardize the minimum investment threshold to “$200,000” is a move towards regional policy coherence. Similarly, the US memorandum demanding “stringent vetting and information-sharing standards” from 36 countries is an attempt to enforce international policy coherence on security and financial transparency.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
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Indicator for Target 8.1 (Implied): Volume of foreign direct investment (FDI) inflows.
The article provides specific monetary values that can be seen as indicators of financial inflows. It mentions the minimum investment threshold for Caribbean programs being raised to “$200,000” and notes that real estate investments are often “above $300,000 per application.” These figures represent direct financial contributions to the host economies.
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Indicator for Target 10.7 (Implied): Number of people granted residency or citizenship under managed migration policies.
The article provides quantitative data on the use of these programs. It states that applications from US citizens “grew by 60 per cent in 2024 and have already exceeded last year’s total by 55 per cent year to date.” This data can be used to measure the scale and trends of this specific form of migration.
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Indicator for Target 16.4 (Implied): Implementation of due diligence and transparency measures.
The article implies progress can be measured by the adoption of stronger vetting processes. It mentions requirements for “proof of identity,” “proof of funds,” “proof of good conduct” via a “police clearance certificate,” and the establishment of “information-sharing standards” as concrete measures being implemented to combat illicit activities.
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Indicator for Target 17.14 (Implied): Number of countries participating in international agreements on investment migration.
Progress towards policy coherence can be measured by the establishment of formal agreements. The article explicitly mentions the “agreement in March 2024” signed by “Five governments in the Caribbean” and the “memorandum” signed by the US Secretary of State targeting 36 countries, which serve as concrete indicators of international policy coordination.
4. Table of SDGs, Targets, and Indicators
| SDGs | Targets | Indicators Identified in the Article |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | 8.1: Sustain per capita economic growth. | Implied: Volume of foreign investment inflows, evidenced by minimum investment thresholds of “$200,000” and real estate investments “above $300,000.” |
| SDG 10: Reduced Inequalities | 10.7: Facilitate orderly, safe, regular and responsible migration and mobility of people. | Implied: Number and growth rate of applications for CBI/RBI programs, such as the “60 per cent” growth in applications from US citizens in 2024. |
| SDG 16: Peace, Justice and Strong Institutions | 16.4: Significantly reduce illicit financial flows. | Implied: Implementation of enhanced due diligence measures, including requirements for “proof of funds,” “police clearance certificate,” and adherence to “information-sharing standards.” |
| SDG 17: Partnerships for the Goals | 17.14: Enhance policy coherence for sustainable development. | Implied: Number of international or regional agreements on investment migration, such as the “agreement in March 2024” among five Caribbean governments and the US memorandum targeting 36 countries. |
Source: thenationalnews.com
