Launching The 2026 Index

Gizane Campos 0:03

Hello, welcome to today's special live session on the launch of the 2026 Best Citizenship Programs Index. I'm your host, Gizane Campos, and today we will be exploring the global landscape of citizenship by investment, where it's heading, where it's being disrupted, and what it now means to acquire a second passport in 2026. We are delighted to have an exceptional panel of experts with us today. First of all, Albert Morgenstern, professor of international tax planning at ESAD, and a leading specialist in cross-border tax structuring. We also have Patricia Casaburi, CEO at Global Citizen Solutions. We also have Joan Pacheco Gonçalves, head of institution and client relations, also at Global Citizen Solutions, Joe Rice, head of citizenship programs, and Laura Madrid, lead researcher at the Global Intelligence Unit, the former two are also from Global Citizen Solutions. So today we're launching something we are really excited about. It is the 2026 Best Citizenship Programs Index from Global Citizen Solutions Intelligence Unit. And it is the most thorough and detailed look at citizenship by investment programs anywhere on the market. And I'll tell you why. The index takes 15 of the world's active citizenship programs and puts them through a detailed assessment across five areas: procedure, mobility, tax optimization, quality of life, and credibility and compliance. This will give investors a clear picture of where the strongest opportunities really are today. So let me start with some key takeaways from the report. The Caribbean dominates the global five, the global top five, with the Eastern Caribbean OECS block setting the standards the rest of the market is measured against. Tax optimization is now a two-tier market with Pacific and Caribbean countries leading the world on zero or territorial taxation, while others apply worldwide tax systems that fundamentally alter the post-citizenship economic equation. The era of merit-based and exceptional achievement programs has been redefined. Malta's citizenship by exceptional merit program and Austria's merit route remain the gold standard for premium exclusive citizenship. Just three more takeaways. Mobility outcomes vary sharply by continent. And the strongest passports are no longer the most accessible. Citizenship itself is also evolving from a single national identity to a portfolio asset. And last but not least, high net worth individuals are increasingly treating investment migration as structured protection and optimization strategy across multiple jurisdictions. Wow, that was a lot of information. But to unpack all of this, let's go straight to the research behind the index. Patricia, let's start with the big picture. What does citizenship actually mean today? Because it's become so much more than where you are from or where you belong. For a lot of people, it's become a practical tool, a way to protect themselves against political uncertainty, currency risk, and the kind of global disruptions that are increasingly hard to predict. From your perspective, leading global citizen solutions, how is this redefining and reshaping the conversations you have with clients? And how should families and individuals approach citizenship today?

Citizenship As Family Resilience

Patrícia Casaburi 4:30

Thank you, Gizane. It is quite a lot to unpack. But you actually have put your finger on the biggest shift we've seen in the industry. Ten years ago, conversations, you know, clients they tend to be around a destination. I want an EU passport or I want to live in Portugal. Today they start with a question. You know, how do I make my family resilient? And that's a fundamentally different starting point. And it changes everything that follows. Citizenship is no longer being acquired as an end in itself. It's one component of a much broader risk management architecture that sits alongside tax planning, asset structuring, and relocation options. So our clients are thinking in terms of optionality, the right to live somewhere, to bank somewhere, to travel freely, to be taxed in a particular way, and these are being unbundled and reassembled deliberately, jurisdiction by jurisdiction. And the reason is quite simple. Wealthy families have learned sometimes in a painful way, that the assumption that the you know jurisdiction and stability is itself a risk. Whether it's currency controls appearing overnight, political shifts in countries once considered stable, or you know, regulatory landscape that can change just like this. Citizenship is not uh, you know, citizenship is supposed to be one of the most durable hedges against these types of risks. So my advice you know to families and individuals today is consistent. Start with a strategy, not the project. Met what are you actually you know trying to protect, be uh deliberate and intentional, and then you work backwards to the jurisdictions that can actually address it. Um think in portfolios, not in singles. You know, many of our high network clients now hold a primary citizenship, a backup citizenship, and one or two strategic residencies. And also, it is really important to take credibility and compliance very seriously. It's my opinion that the programs that will still be standing and in solid ground in 10 years from now are the ones that are very rigorous with their due diligence, and and and that will ensure that they have you know strong international standing. And that's exactly what we've weighted uh on the report. Credibility and compliance so heavily in this year's index. So citizenship in 2026 is no longer a passport, it's an infrastructure for a globally mobile life.

Gizane Campos 7:37

Wow, that is such a powerful reframing. Citizenship is a layered architecture to protect rights and assets. So thank you very much, Patricia. And I'm also very happy because it sets up perfectly the next question, which is about how that architecture actually gets built in practice for most for the most of the sophisticated investors.

How Advisors Build Mobility Portfolios

Gizane Campos 8:05

So, Jean, over to you. Um, I have a question for you, Jean, as head of institutional client relations at Global Citizen Solutions. I see that you work closely with wealth planners, family officers, and institutional advisors who are increasingly integrating investment migration into broader wealth protection and succession strategies. So, how are these advisors framing citizenship and residency programs with their clients' overall planning? And in practical terms, how can a high net worth individual today build a genuine mobility portfolio to maximize flexibility, optimize stack exposure, and build long-term resilience?

João Ferreira 8:59

Thank you, Gizane. Those are very good questions, actually, and that there's a lot to speak about. But uh what we're seeing from the institutional side is that residency and citizenship planning is increasingly being integrated into wealth planning, and it's definitely something new if you compare it to five years ago, ten years ago, for example. There are numerous factors to this, but uh outside in summary, the demand is client-led. So it isn't it isn't the advisors that are taking this topic to the clients, the clients are taking this topic to the advisors, which means advisors are starting to adapt uh to this demand. And the driver from the client side, you know, uh a high network individual or high network family, um they're becoming more and more cross-border. And sometimes or or multiple times, the first generation might not be cross-border, but the second or third will almost certainly be. And we see this pattern frequently. I mean, for example, a couple that uh build entire life in business in the US, for example, or Brazil or Middle East, even though they might be perfectly happy where they are right now, their kids can also be in London, uh, living in Milan, for example, in Singapore. So uh this the family legal and tax structure needs to reflect this mobile reality or this desire for mobility. And uh so these programs end up serving both the parents and their their children in parallel, sometimes for the same purpose, sometimes for different uh goals. And and why are people more cross-border? It all comes about you know what Patricia was mentioning. So, risk management, geopolitical risk management is a very big topic, lifestyle as well, tax optimization. I mean, the list goes on. And I think one note I like to mention, which which um is quite important as well, is advisors that touch on this matter early on usually have the opportunity to advise the clients throughout the entire process. Um, because again, it's something from our perspective, it's becoming more and more prevalent in in today's world.

Gizane Campos 11:24

Thanks, Joao. And I think that's exactly the integrated picture our audience has been waiting to hear. How citizenship sits not in isolation but alongside financial structures as part of um of a good financial strategy. So now, Patricia and Jean, they have given us the strategic and operational view of how and why investors are approaching citizenship today. But to understand which programs actually deliver on that promise, we need to turn to the

Inside The Index Methodology

Gizane Campos 12:00

research. And for that, I will bring in Laura Madrid. Hi, Laura. Hello, hello. So the 2026 Best Citizenship Programs Index evaluates 15 programs across five weighted pillars, like we mentioned um earlier, but I will repeat the procedure, mobility, tax optimization, quality of life, investment, and credibility and compliance. Laura, it's enough talking for me. Can you walk us through how the global intelligence unit selected and weighted these pillars and what methodological refinements were introduced in this edition?

Laura Madrid 12:42

Sure, sure. Let's talk a little bit about methodology, but because it's uh aligned with what Patricia and uh Joan have said. In 2026, we developed and updated uh the methodology for the CP index. And the framework Patricia has just described is precisely what this uh index is designed to measure. Uh, we we kind of developed this technical answer to the natural payoff to Patricia's strategic frame about um uh global mobile uh individuals and global mobile families. Uh we believe the index uh uh needs to capture every single layer of this infrastructure of a global mobile investor and their families. And that's why we focus on those uh five uh pillars that you mentioned. We have procedure and we analyze minimal investment thresholds in the programs, investment options, processing times, residency requirements, family inclusion. Then the second one is mobility, and we use our proprietary data on the Global Passport Index to um weight countries on their mobility, uh their passports. Uh then we have tax optimization pillar, and we analyze tax systems and tax rates on income, corporate capital gains, wealth, and inheritance. Then, of course, we have quality of life as an indicator. If we see the most recent service with um expats and global mobile people, quality of life is one of the most important drivers for people when deciding uh on a destination. So it's also relevant. As Joanne just mentioned, uh, sometimes the family will not relocate immediately, but the future generations can have it as an asset to relocate in the future, and then quality of life is a very important uh driver. Then we have investment environments, and we use ease of doing business and economic stability uh indicators to measure countries and and jurisdictions on this uh topic. We also have the cross-cutting um indicator, as we we mentioned in the in the beginning, that is credibility and compliance. And credibility is an indicator that we put together with uh our experts' analysis and also the reputation programs um um uh uh demonstrate uh from the operators, and compliance is uh is an indicator that is related to how countries apply guidelines on anti-money, anti-laundry money uh guidelines and know my client uh framework. So the bottom line of the index is that we kind of put together all the indicators that can offer to investors, private clients, and um investors in general, and the most reliable and transparent programs for for investors to invest when it comes on uh citizenship programs. We understand that it's important for investors um to build an infrastructure, uh, to have this uh mobile life. And our index is one uh piece of of the the puzzle this uh investors need to put together when thinking about um investing in uh in citizenship uh rights elsewhere.

Gizane Campos 16:22

Thank you, Laura, and well done for coordinating this with your team. And I think that rigor is what gives the index its weight with the methodology established. I'd like now to turn to the supply side of the market, which is where Joe comes in. Hi, Joe.

Joe Rice 16:48

Hi, Gizane and thanks for having me.

Caribbean Reforms Raising Standards

Gizane Campos 16:51

You're welcome. So, Joe, um the Caribbean continues to anchor the global CBI market, but the region has undergone significant reform in recent years, particularly around accountability and transparency. What improvements have been most consequential for clients and uh for the long-term credibility of the region?

Joe Rice 17:18

Yeah, so obviously it's a great question. Um, I'd point to sort of three game changers. Um, first, the ECC IRA, um, which is the new regional regulatory authority which launched last year. Um, for the first time, all five Caribbean programs will be operating under unified standards with a single oversight body headquartered in Grenada. So that's pretty transformational. Uh, the second would be the $200,000 minimum investment floor. So these countries stopped competing on price and and competing on started competing on quality. Um, that sent a clear signal to the US and the EU, you know, say we're serious about integrity over you know quick revenue. And then the third, um, and this is what clients really, really notice is mandatory biometrics and interviews for everybody. Um, and yes, you know, it adds a step, but it also means that the programs can defend themselves credibly when Washington or Brussels um come knocking, you know. Um, and that protects what clients really, you know, invested for or bought, you know, visa-free access to you know 140 plus countries. Um, so from basically where I sit, you know, the trade-off is absolutely worth it. I mean, applications might take a little bit longer now, you know, doc uh documentation requirements might be slightly tighter, but you know, the clients are getting the real credibility instead of just a fast process. Um, and then you know, the Caribbean went from five countries doing their own thing, um, so sometimes undercutting each other to a coordinated, transparent system uh with public annual uh reporting and generating accountability. And so that's not just reform, that's a complete industry um maturation. And you know, frankly, it's working. Um, despite the stricter requirements, we're seeing strong client confidence because you know people recognize these programs are now built to last.

Gizane Campos 19:26

Thank you very much, Joe. Um, so let's be dynamic here. And now I'm gonna bring back Joao. Um Joao, Joe has just walked us through how the Caribbean has reformed and where new programs are emerging. But before any of these programs reach an end client, they often have to pass through the institutional gatekeepers. By that I mean the family officers, the wealth managers, and the private banks that advise them on where to place their capital and citizenship.

How Banks Vet Program Credibility

Gizane Campos 20:04

So, Jean, from your experience, how do these institutions actually assess a um citizenship program before recommending it? And what do they look at in terms of program requirements, investment options, and credibility?

João Ferreira 20:25

Uh thank you, Gizane. That's uh that's an interesting question, actually. Um filter is quite rigorous, uh, actually. I think uh typically private banks or wealth managers ask three main things. Uh, the first one is is the jurisdiction of our program credible? Uh the second would be are the investment routes suitable for our client, for my client? And then finally, and logically, uh, is the firm they will work with in the in this industry credible? And this logically applies to us or any other company. In terms of jurisdiction or program credibility, I think that they like to see that the government is actually vetting applicants, not just collecting fees, you know, because in the end, a program that's too soft uh in screening, it can create uh easily uh reputational damage or exposure for everyone involved. So that's also something they they tend to look at uh very often. Um and and coming back to the second part of your question, you know, I think it should be emphasized that sometimes a program in isolation might be excellent, uh, but can still be the wrong recommendation. You know, it's where things can get a bit tricky sometimes because you know a great program might sometimes conflict you know with an existing structure, for example, or complicates uh succession uh plan uh mid execution, for Example. So when we advise the client, we also advise their advisors sometimes on this. I think there's this coordination function or coordination aspect, which is crucial to serve well the client. And in terms of investment options, it uh the motivation drives everything, uh, I would say. You know, for European clients, for example, tax efficiency, uh, tax efficiency is usually the central pillar, um, treaty access or exit from high tax jurisdictions. For US clients, uh, it is different. Since they have citizenship-based taxation, uh, the conversation shifts more towards access, optionality, again, uh risk management, as we previously mentioned. And uh it's more of an insurance and less of a fiscal tool, let's say. But for South American, Asian, uh it's it's always a mix of all the above. Uh, and for Middle Eastern, typically the focus solely on the mobility and geopolitical risk part of it. So it really varies from geography to geography, and uh and that's it, yeah, actually.

Gizane Campos 23:12

But Joao, that institutional lens is really valuable and it reinforces something that's been a thread throughout this conversation: that credibility, governance, and due diligence are no longer optional features of a program. Now, with that institutional perspective in mind, let's turn to taxes because we runs through every one of these recommendations.

Worldwide Territorial And Zero Tax

Gizane Campos 23:43

So I'd like to invite Albert Morgenstern. Albert, you've spent years watching how tax rules around citizenship and residency have changed. Today, there are so many different approaches. Some countries charge nothing, others only tax local income, and some tax you wherever you go. Can you break down how these systems actually work and how moving to a different country can legitimately help someone manage their tax bill?

Albert Morgenstern 24:19

So, uh yeah, absolutely. And uh to understand how investment migration functions, we need to first understand the three primary models that are applied. So, first, we can talk about the worldwide taxation. This is the most common model used almost in any country around the world right now. This uh this model signifies that any income you generate, regardless of where, will be taxed all in the same country. So your worldwide income is going to be taxed in your country of residence. Since this is a very broad reach, this system is also the one that presents the highest risk of double taxation. Now, moving to territorial taxation, so under this system, you're only taxed on the income that you're generating within the borders of your country of residence. This means that any foreign source income is exempt from these taxes. However, they can still be subject to taxes in the country of origin, oftentimes as a withholding tax. Then finally, we can talk about the zero tax regime. This system does not tax certain incomes, so regardless of their origin. While this can be incredibly enticing, it is also very important to see the cost of entry and what other taxes are there levied on the individuals or corporations. For example, if we look at the case of Antigua and Barbuda, they have a serial tax for personal income, but they have a 25% corporate tax rate. So depending on how you generate your income, you might be interested to go into Antigua and Barbuda or maybe to some other jurisdiction. Taking all these frameworks into account, so both individuals and corporations can strategically align the residency depending on how they generate their revenue. For example, if you're a consultant looking to expand your customer portfolio into a new market, it might make sense to seek out a territorial tax system. So if you're, for example, in Asia, you can go to Singapore, or if you're in looking for the Americas, you can go to Dominica or Granada. Um conversely, if your wealth is generated predominantly through capital gains, maybe acquiring a residency in a zero tax jurisdiction that doesn't tax these gains could be the best way for you.

Gizane Campos 26:42

Thank you very much. I think that distinction between territorial, worldwide, and zero tax models is something every investor needs to internalize before they look at a single program. So I'm gonna go back to Joe now, based on everything we shared here today, um, with a forward-looking

Purpose Driven Citizenship Takes Over

Gizane Campos 27:07

question. So, Joe, what do you think is next for what's next for citizenship programs? Do you think we are heading toward a world where they are built around big themes like climate or innovation? And and how do you how will growing global scrutiny change the way they are designed?

Joe Rice 27:30

So absolutely. Um we're already seeing it happen. I mean, the next generation won't be sort of Invest X and get a passport. It'll be purpose-driven with measurable outcomes. Uh, we need to get away from the citizenship by investment terminology. Think climate resilience funds that are a nation's facing existential threats, um, innovation hubs attracting tech entrepreneurs, uh, impact investing, where you can you know track actual development results. So countries are moving from you know, we want your capital to we want your contribution. Um, and I also think you know we'll see tiered models, so entry level with genuine residency requirements, premium pathways for strategic investments, uh, maybe even conditional citizenship that converts after hitting specific milestones. Um, and compliance isn't the obstacle, it's the foundation. So the ECC IRA in the Caribbean is the template. You'll see more regional coordination, more national oversight, because no country can withstand international pressure alone anymore. Um, and the programs that thrive in 10 years will answer not just how much, but to what end. Purpose-driven, compliance embedded, impact measurable. I mean, that's the future architecture.

Gizane Campos 28:53

Wow, I really love that idea of purpose-driven citizenship. The shift from simply offering a passport to actually funding a national mission, it really reframes the whole conversation and I really like it. Albert, we've spoken about how investment migration can be used as a tool for tax optimization.

OECD BEPS Exit Taxes And Planning

Gizane Campos 29:15

But of course, the international tax environment is itself evolving rapidly. The OECD's BEPS uh framework, I'd like to give the um so BEPS mean base erosion and profit. For those who are not aware of the term, base erosion and profit shifting. There you go, thank you. So um the global minimum tax under pillar two and the increasing um of use of exit taxes are all reshaping the landscape. So, right, given you, uh given all this information, how are these developments changing the calculus of investment migration for high net worth individuals? What should investors and their advisors be paying close attention to? And uh, sorry, another question, why not? And where do you see the uh regulatory um environment heading over in the next five years?

Albert Morgenstern 30:25

Yes, so there is a critical tension in the market right now. The OECD's VEPS, which by the way includes now almost 150 jurisdictions, I think they're at 148 right now, it has severely restricted historical loopholes and this aggressive transfer pricing strategy that companies were using. At the same time, we're seeing a sharp rise in exit taxes designed to penalize wealth flight, as we can see currently in Spain, France, or in Germany, each at different levels. However, at the same time, we cannot forget that countries still fiercely compete to attract foreign capital and talent. This is creating this fascinating conflict of interest in the global tax landscape. On one hand, you have these multi regular frameworks on exit taxes tightening the net, while on the other, you have these individual countries that are also part of this multilateral framework, but they are designing highly targeted international regulations to drive this investment by minimizing the tax impact. So for high net wealth individuals and their advisors, the calculus has shifted from simply historically seeking out the lowest overall tax rate to now finding the smart and this compliant domestic incentives. Um, things as the ease and cost of entry, the actual tax rate, the tax system, the capital, the ease of moving capital, uh, the withholding taxes that might apply, and also the international treaties that the countries have, as well as obviously personal and political preferences, they all need to be taken into account and valued against each other to find what the optimal option for each individual is. So, to your final question, looking ahead over the next five or maybe 10 years, we can see that the regulatory environment is becoming more and more specialized and it's forcing a more in-depth ponderation of all these concepts I just mentioned. While at the same time, you have these general tax havens that are still continuing to face immense international pressure, limiting their use more and more, while other countries will keep creating these boutique tax incentives. So, overall, it's going to be a very interesting and challenging evolution.

Gizane Campos 32:44

Thanks, Albert. It seems that the new game is one of careful, well documented, um, properly timed planning. That's great. And that brings us to the bigger picture of where the entire industry is heading.

The Next Decade Of Investment Migration

Gizane Campos 33:01

So now I'd like to ask Patricia a question. Um, Patricia, you've led global citizens. Hello there. Hello. Hi. So, Patricia, you've led Global Citizen Solutions through one of the most transformative periods in the history of investment migration, a global pandemic. Um, also the rise of digital borders and a fundamental shift in how mobility is valued. So I'd like now uh to do this exercise with you, where you look back at the last five years and um and I'd like to see what have been the most defining changes in the industry. And then later, I want you to look 10 years ahead, and I want you to tell us how do you see the sector evolving in terms of client profiles, program structures, uh uh regulatory frameworks, and the broader uh geopolitical context.

Patrícia Casaburi 34:07

Okay, well, that's a um healthy and interesting exercise to do. I guess the last um five years kind of have compressed uh two decades of change into a very short window. Um, like you mentioned, the pandemic exposed um the limits of you know holding a single citizenship. Um overnight we could see that you know premium passport holders couldn't get home or couldn't actually go anywhere else. And that kind of changed the psychology of mobility permanently. Um digital borders have redefined also what mobility even means. It's not just about visas anymore, it's like what we've been talking about is banking access, it's tax residency, data governance, which is a huge thing, and also credibility, and it's all kind of have been rebalanced. And then if we try to look 10 years ahead, um I think there's kind of maybe four big shifts that we can try to kind of predict or which will be and it's something that we are already starting to see. So the client profiles are definitely kind of you know broaden um from high or ultra-high network families for you know um median income types of families, the programs, they will specialize even more, something that I think Joe touched upon um earlier. So it will be more tailored towards innovation, talent, sustainability, which is really exciting. I think the regulations will keep you know tightening both on the tax landscape and mobility itself. But what we see that the programs that will thrive um will have transparency as a main feature. Once you see that, you know, not as a burden, I think we'll be very successful, and then geopolitics that will keep pushing demand upwards. Bottom line is the industry is moving from the margins of wealth planning to the center of it, and the world is becoming more uncertain, no less. And our job is just to help people navigate with intelligence and foresight.

Gizane Campos 36:45

Thank you, Patricia, um, and thank you for sticking to all the questions, all um answered very thoroughly, and um, and yeah, so thank you very much. I know I made it quite um broad at the beginning. Well done. So now, um, Patricia, thank you. I'd like to invite Laura to close out our conversation. Let's bring it back to the data.

Top Programs And Key Takeaways

Gizane Campos 37:16

Laura, can you finally take us through the top 10 um positions in the 2026 Best Citizenship Programs Index? And also what you consider the most relevant takeaways of this year's report. Oh, one last question. So what are the headline findings that you think every investor, advisor, or policymaker should take away from this edition?

Laura Madrid 37:44

Okay, yes. Um, so before I start um naming the countries that did the top positions, um, I would say that it's it's it's interesting that we've been chatting for this uh whole hour about you know investment migration, citizenship programs, and we almost didn't uh mention the war visa because as we said in the beginning, mobility is now one aspect of investment migration and citizenship planning. We have other aspects, and that's why our index is uh built um around five indexes that of course will address mobility, but also include tax, investment, quality of life, and programs, quality uh and compliance and credibility. So as Patricia said, this this is uh I think the most uh relevant evolution of this uh the environment of investment migration, that now we have mobility as one of uh of indicators that we use to assess programs, but we have other other relevant indicators that we gather in the composite to score uh programs uh in our index. So this is this is relevant because it aligns with um building uh a mobility, global mobility portfolio for for investors and their their families to have this global mobile life that most uh high net worth individuals are are seeking now. So then again, as we said in the beginning of this this conversation, uh the Caribbean region is uh anchoring uh uh the ranking we have in the first position, send kids and new with uh an overall score of 93.8. It's the oldest uh citizenship program uh in 2024. It was its 40 years anniversary, and it's it's um it's strong across uh the whole indicators board. It does does well in procedure, it's uh one of the leading uh Caribbean passports with over 140 visa-free uh countries, it has a zero personal income tax, and the its compliance score is also um high. It uh ranks third globally. Then in the second position, we have Antigua and Barbuda, and there are two standout features of this program. It's the broader, the broadest family inclusion policy of any citizenship program. So we can include in the main applicant um application uh spouses, children, parents, and even uh unmarried siblings. And it's it scores really well in the investment uh sub-index as well. Then we have Granada that has uh scores really high in mobility, uh its passport, then Dominica with the lowest entry threshold, the lowest uh investment, minimum investment threshold, and then in the fifth position, uh St. Lucia. We are talking about citizenship programs that still offer um um the possibility to invest uh in the country uh economically, and then we turn to Europe. In the European region, we have two citizenship by merit or citizenship by contribution programs. Malta is in the sixth position, and it's a program that offers the possibility to acquire uh the citizenship uh by merit. Uh, it has one of the highest compliance scores and the second highest mobility score because it's a passport that is really strong and it gives access to the Schengen area, of course. And then we have the Austria. Uh it's an exclusive pathway and it's the most um that requires the highest investment in our data set, I would say. But then again, it's the top in the top position in the mobility sub-index because it's the strongest uh uh passport in terms of access uh in our in our ranking. It's it's a very good option for ultra-high net worth individuals that want to have access to the Schengen area, for instance. Then we have um following close Nauru, North Macedonia, and Turkey in the 10th position. Turkey is a program that still accepts uh investment in in real estate as an investment option in this program. So what we have uh in 2026, when we see this um constellation of programs of uh citizenship around the world is the Caribbean region is the one that is setting uh uh standards on the investment migration industry. In Europe, we have um a transition to citizenship by merit programs, where you, of course, you give your contribution, but contribution will be linked to some specific uh qualitative uh contributions. And then outside Europe, we have um in the Middle East um um uh Jordan uh citizenship program, for instance, in Egypt to have a citizenship program. Uh the Turkish citizenship program is also uh a relevant um uh program where you can still invest in real estate, and in Oceania you have uh Vanuatu and Nauru uh citizenship programs. We also see some uh countries um analyzing the possibility of um implementing their own citizenship programs. We've been seeing this in St. Vincent and Granadines, and even countries in Latin America are uh starting this broader conversation about receiving contribution uh and granting citizenship rights in return. So, we what we see now, I think, is an evolution of the industry. Uh we see some um restrictions uh on on the basis of um uh territory access and some um more restrictive um compliance guidelines but I think investors should see this as a stamp of quality of the programs that uh align and follow closely these guidelines and not um uh as um some obstacle for in the landscape of investment migration in general thank you Laura this was a remarkable snapshot of

Final Summary And Where To Read

Laura Madrid 44:40

where the global market stands today and um and the perfect note on which to close um this has been a very good conversation um amazing insights and so much depth and expertise was brought to this conversation thanks to Albert Patricia Joan Joe and Laura it is really clear that uh the best programs are the ones built with vision with transparency and the real needs of global citizens in mind for everyone watching make sure you explore the 2026 best citizenship programs index and report from Global Citizen Solutions.

Gizane Campos 45:29

It is the most comprehensive look at the world's leading programs, their tax environments and what smart global mobility really looks like today. Thank you very much and until next time