Updated
GL-R-01
Glossary · Citizenship and residency programs
RBI - Residence by Investment
Programs under which a foreigner receives residence in exchange for an investment. Unlike CBI, it grants the right of residence (without a passport for now), which can lead to citizenship in 5-10 years.
01 / In 30 seconds
The short answer
- What it is
- A residence permit in exchange for an investment — real estate, a fund, a deposit or a business
- Where it applies
- Greece, Portugal, the UAE, Malta and other countries
- Cost
- From €150,000 (Malta permanent residence) and €250,000 (Greece) to €500,000+ (funds)
- Duration
- Processing from a few weeks to 2-3 months
- Can you prepare
- Yes: choose a country for your goal and assemble a source-of-funds file
02 / In plain words
What RBI means
RBI (residence by investment) means obtaining a residence permit in exchange for an investment. You put money into a country’s real estate, a fund or a business and receive the right to live there legally. A passport is not given straight away: RBI opens the door to the country, and citizenship comes later, through naturalisation.
The main difference from CBI: there you are a citizen at once, here you are a resident for now. Residence usually leads to a passport after 5-10 years of permanent residence and passing exams. In return, RBI is often cheaper than the entry ticket to citizenship and opens what for many matters more than a passport right now — the right to live, receive medical care and educate children in the chosen country, and in the EU to travel freely in the Schengen area as well.
There are many formats: European Golden Visas (Greece, Portugal), UAE residence, programmes in South-East Asia. Entry thresholds vary — from real estate investments to deposits and government bond purchases. Processing is usually shorter than for citizenship: weeks or a couple of months.
A case from practice
An investor buys a flat in Greece for €250,000 and receives a Golden Visa — a five-year renewable residence permit. They are not obliged to live in Greece permanently, and they travel freely in the Schengen area. After seven years of actual residence, if they wish, they can apply for Greek citizenship by naturalisation.
Why people choose RBI
- The right to live, receive medical care and educate children in the country
- Free travel in the Schengen area (EU)
- A second home and a “plan B” for the family
- Tax optimisation (the UAE has no income tax)
- A first step to citizenship by naturalisation
- Rental income from property
03 / What it covers
What RBI gives
Who receives it
- Principal applicant
- Spouse and children
- Sometimes parents
Types of investment
- Real estate
- Investment funds
- Deposit or government bonds
What it gives
- The right to live in the country
- Schengen (in the EU)
- Minimal presence
Outlook
- Path to permanent residence
- Path to citizenship
- Tax planning
04 / How it works
How to obtain RBI
Choosing the country and option
Due diligence check
Investment
Filing the application
Receiving the residence card
05 / Cost and timelines
What RBI costs: thresholds by programme
01Malta (MPRP)
from €150,000
Permanent residence through renting or buying property plus a government contribution. Schengen, but not citizenship.
02Greece (Golden Visa)
from €250,000
Real estate. The threshold is higher in Athens, Thessaloniki and the popular islands.
03Portugal
from €500,000
Investment funds. The property purchase option has been closed since 2023.
04UAE (Golden Visa)
from AED 2,000,000
About $545,000 in real estate — a 10-year visa. No personal income tax.
Thresholds depend on the country and the type of investment. On top come government fees, legal support and property taxes. We calculate the exact budget for the chosen programme and family composition.
Timelines
- Processing time
- From a few weeks to 2-3 months
- Who issues it
- The country’s migration service
- Residence to keep the permit
- Usually minimal (a few days a year)
- Residence for citizenship
- Actual, 5-10 years for naturalisation
06 / Key facts
What you need to know
01RBI gives residence, not a passport
citizenship comes later, through naturalisation
02
Minimal presence is usually enough to keep the residence permit
03
Future citizenship requires years of actual residence
04
The property usually has to be held for the whole term of the status
05Conditions and thresholds change
programmes are sometimes closed (Spain in 2025)
Common mistakes
- Confusing RBI with citizenship and expecting a passport “straight away”
- Buying property without checking the title and eligibility for the programme
- Expecting to work in another EU country on this permit — Schengen gives travel only
- Not counting the actual residence requirement if the goal is a future passport
- Delaying the application: thresholds rise and programmes close
07 / Expert advice
How to prepare in advance
Before filing, decide on your real goal: do you need status in a particular country right now or a passport for the future? The choice of country and option depends on that. Then gather documents on the origin of funds (source of funds), check the property and build government fees and taxes into the budget. If a passport is the long-term aim, count the actual residence requirement from the start.
What we do for you. We help you choose between RBI and citizenship according to your real goal: some need status in a particular country right now, others a passport for the future. We will select the programme, calculate the full cost including the family, and take you through the investment and filing without surprises.
Anna KovalevskayaLead lawyer for EU citizenship and residency, 12 years of practice
08 / Questions
Frequently asked questions
CBI gives a passport straight away; RBI first gives a residence permit, and citizenship follows years of residence. RBI is about living in the country; CBI is about the passport as such.
Usually yes, but not automatically. You need to actually live in the country for the required period (most often 5-10 years), pass a language test and apply for naturalisation. Each country has its own rules.
To keep the residence permit itself, minimal presence or one visit a year is usually enough. Future citizenship, however, will require permanent residence.
Yes. Golden Visa is the popular name for European and Middle Eastern RBI programmes. The mechanics are the same: a residence permit for an investment in real estate, a fund or a deposit.
Among the well-known programmes: Malta permanent residence (MPRP) from €150,000 and the Greek Golden Visa from €250,000. But the programmes differ in conditions and rights, so compare them on more than price.
In the country that issued the permit — as a rule, yes. But in the Schengen area it gives travel only: the status does not allow you to work in other EU countries.
While the programme status is in force, the property usually has to be held — it is the basis of the status. We check the conditions of each programme in advance.
Related terms
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