Golden Visa and Citizenship by Investment: What Works in 2026

A golden visa and citizenship by investment are different things: a golden visa grants residency (or an immigrant visa), while citizenship by investment grants a passport. In 2026, the U.S. EB-5 requires from US$ 800,000.00, Spain ended its program on April 3, 2025, and the Caribbean charges from US$ 200,000.00. None of them changes your tax residency in Brazil.

This guide works as a starting point on the topic. Each amount below comes from the official page of the government that runs the program, with the date the page was checked. For European programs, which change often, the detail is in their own articles: Portugal golden visa, comparison of golden visas in Europe and Turkish citizenship through real estate.

Golden visa or citizenship by investment: what is the difference?

A golden visa is a residency program. You invest, receive a visa or a residence permit and, in general, keep Brazilian nationality as your only one. Residency may require a minimum presence in the country and must be renewed.

Citizenship by investment (CBI) grants the country's nationality and, with it, the right to a passport. It is almost always a non-refundable contribution or a real estate investment, with no requirement to live there.

Two points separate them in daily life:

• •Reversibility: residency is reviewed at renewal; citizenship, once granted, has its own cancellation rules.
• •Effect in Brazil: neither one, by itself, turns you into a non-resident for tax purposes. That topic appears further below.

Which programs exist in 2026 and how much do they cost?

The amounts below were checked on the official pages on October 3, 2026. The Caribbean programs' pages do not state an effective date: treat the number as the one in force when checked and confirm before signing any contract.

Due diligence, processing and certificate fees are added to the contribution. See the detail for each below.

Is the U.S. EB-5 still worth it?

The EB-5 is an immigrant visa for people who invest in a business in the United States. The USCIS page (last revised November 18, 2025) gives the minimum amount by petition filing date:

• •Before March 15, 2022: US$ 1,000,000.00, or US$ 500,000.00 in a targeted employment area.
• •From March 15, 2022: US$ 1,050,000.00, or US$ 800,000.00 in a targeted employment area (including infrastructure projects).

USCIS states that the amounts will be adjusted by the consumer price index every five years, with the first adjustment for petitions filed from January 1, 2027. Each fiscal year reserves visas for rural areas (20%), high-unemployment areas (10%) and infrastructure projects (2%).

Two practical cautions. First, the capital must have a documented origin and cannot be a loan with a guaranteed return or a contractual right of repayment. Second, the EB-5 leads to permanent residency in the United States, and anyone who becomes a U.S. resident enters that country's worldwide income tax system. This changes the whole calculation. See the article on international succession planning for high net worth individuals before deciding.

Has Spain's golden visa ended?

Yes. Organic Law 1/2025 (Ley Orgánica 1/2025), published in the BOE on January 3, 2025, left articles 63 to 67 of Law 14/2013 (Ley 14/2013) without content; they provided for the investor visa and residence authorization. The rule took effect on April 3, 2025.

The law itself protects those already in the system: anyone who applied for the visa before that date can receive it under the earlier rule, and valid investor visas obtained through real estate purchases keep their validity for the period for which they were issued. Any offer of a new "Spanish golden visa" today deserves suspicion.

For the programs that remain open in Europe, the comparative analysis is in the article on golden visas in Europe in 2026, and the Portuguese case is in Portugal golden visa 2026.

How much does Caribbean citizenship cost?

The three official pages checked show similar starting contributions, with extra fees that change the total.

Dominica (Economic Diversification Fund, EDF). A non-refundable contribution of US$ 200,000.00 for the main applicant, or US$ 250,000.00 for the main applicant with up to three qualifying dependents. Each additional dependent costs US$ 25,000.00 (under 18) or US$ 40,000.00 (18 or older). Added to this are processing of US$ 1,000.00 per application, due diligence of US$ 7,500.00 for the main applicant and US$ 4,000.00 per dependent aged 16 or older, and a naturalization certificate of US$ 500.00 per person.

Antigua and Barbuda (National Development Fund, NDF). A single contribution of US$ 230,000.00 per application. A spouse, dependent children and dependent parents over 55 are included with no additional contribution, but pay fees. Processing is US$ 10,000.00 for one person and US$ 20,000.00 for a family of up to four, with an additional US$ 10,000.00 per dependent from the fifth on. Due diligence is charged separately.

Saint Kitts and Nevis (Sustainable Island State Contribution, SISC). US$ 250,000.00 for the main applicant or a family of up to four people, plus US$ 25,000.00 per dependent under 18 and US$ 50,000.00 per older dependent. Due diligence costs US$ 10,000.00 for the main applicant and US$ 7,500.00 per dependent aged 16 or older.

What about Vanuatu citizenship?

The official fee page of the Vanuatu Citizenship Commission lists, for the capital investment immigration plan (Form D), a citizenship fee of US$ 260,000.00, covering the main applicant, the spouse and one child under 18. An additional minor child costs US$ 19,250.00, and a dependent aged 18 to 21, US$ 44,250.00. The application fee is US$ 250.00 per application.

Vanuatu also keeps other paths, such as the Development Support Program and the real estate option, listed on the citizenship types page. Always use the government website and an authorized agent, and be wary of any offer promising a diplomatic passport for a fixed price.

Does a new passport change my tax residency in Brazil?

No. Tax residency depends on where you live and on what you report to the Receita Federal, not on which passport you hold.

The rule is in Normative Instruction SRF No. 208/2002 (IN SRF 208/2002). Under art. 11-A, anyone leaving the national territory files the Notice of Permanent Departure from Brazil (CSDP) from the date of departure, or from the date they become a non-resident, until the last day of February of the following calendar year. Under art. 3, anyone leaving temporarily is considered a non-resident from the day after completing 12 consecutive months of absence. Without the notice, art. 2, V, keeps you a resident during the first 12 months of absence. The service page on gov.br confirms this deadline.

Whoever reports their departure also files the Permanent Departure Tax Return (DSDP), which the Receita Federal describes as the return of someone who leaves the country with the intention of staying away permanently or who qualifies as a non-resident. It does not remove the obligation to file pending returns from prior years. And you become a resident again if you return with the intention of living in Brazil or if you stay more than 183 days, consecutive or not, in 12 months.

While you are a Brazilian tax resident, Law No. 14,754/2023 (Lei 14.754/2023) continues to apply. Art. 2 requires you to declare, separately, income from financial investments abroad and profits of controlled entities, at a 15% rate on the annual adjustment. Art. 3 defines what financial investments abroad are. An investment made to obtain residency or citizenship does not escape these rules: if the money earns income abroad, the income is yours for tax purposes.

To structure the move calmly, see the tax planning service.

Does having another citizenship make you lose Brazilian nationality?

Not by acquiring another citizenship. Constitutional Amendment 131/2023 rewrote art. 12, § 4, of the Constitution: loss of Brazilian nationality occurs, among other cases, when the person makes an express request for loss before the competent Brazilian authority, except in situations that would result in statelessness. The earlier wording, which provided for loss through voluntary naturalization, was replaced.

In practice, a Brazilian who obtains another citizenship remains Brazilian unless they request the loss. But confirm with the chosen country: some require renouncing other nationalities or subject the citizen to their own rules.

Do I have to report money and assets abroad?

Yes, in the cases provided. The Brazilian Capital Abroad Census (CBE) is mandatory when, on December 31, total assets and amounts abroad are equal to or greater than US$ 1 million or the equivalent in other currencies. The official page also provides for quarterly declarations (March 31, June 30 and September 30) for those with US$ 100 million or more. Real estate, shares and the bank account opened for the program count toward the assets and amounts you hold abroad. See also the compliance service.

How do you choose between the programs?

Answer four questions, in this order:

1. •Do you want to live there or just have the option? If you want to live there, look for residency. If you want mobility and a plan B, compare the citizenships.
2. •Is the program open, with a stable rule? Spain shows the risk: a program can end by law, and only those who had already applied are protected.
3. •What is the total cost? Add up the contribution, due diligence, processing, certificate and the authorized agent's fees.
4. •What is the tax effect? Ask first whether the investment creates a reporting obligation in Brazil or tax in the destination country.

To protect your assets as a whole, and not just have a second passport, see the article on offshore asset protection and what the law allows. If you want to talk about your case, book a strategy session.