Amid US uncertainty, HNIs choose Caribbean, Gulf, EU residency programmes

The UAE remains an attractive proposition for investors looking at non-US golden visa programmes

Overseas immigration and residency experts say that high net-worth Indian families, which often choose an overseas destination for residency needs for business, retirement, or for educating their children, are increasingly looking away from the United States, which has the popular EB-5 "visa-by-investment" programme. Instead, they are looking at similar programmes in Europe, as well as in the Gulf and Caribbean states such as Grenada, Antigua and Barbuda, and others.

"Indian clients are gradually shifting away from US-centric migration. Interest in European programmes — Italy, France, and Hungary in particular (slightly lower investment threshold) — is rising. The Caribbean is also drawing attention, mostly due to online content or word-of-mouth," said Andri Boiko, Founder and CEO of Garant.in, a residency and citizenship consultancy.

Uncertainty in the US

According to a report from KPMG, the Trump administration's announcement of the "Gold Card" programme, and subsequent statements by administration officials about suspending the EB-5 programme through executive orders has created uncertainty in the minds of investors.

However, the report also noted that ending a programme of the size and importance of EB-5, which also has a mandatory job creation requirement, may require the approval of the US Congress. Between October 2023 to September 2024, investors pumped in more than $3 billion into the US economy thanks to EB-5.

Recently, some Indian investors sued the US Citizenship and Immigration Services (USCIS), the US government's nodal agency to process permanent residency applications through the EB-5 programme. They alleged that the USCIS "illegally" denied their applications, even after they had invested hundreds of thousands of Dollars.

The investment required for the existing EB-5 programme ranges between $800,000 to $1.05 million, in exchange of which the US provides permanent residency ("green cards") to the investors, their spouses, and unmarried children under 21 years of age. The investments often include purchase of income-generating real estate, such as condominiums and multi-family homes, hotels, resorts, offices, and retail facilities.

Non-US programmes

Most overseas residency or citizenship programmes require the purchase of realty, with the UAE requiring a real estate investment of around 2 million Dirhams (about Rs 4.5 crore) for its golden visa programme.

Italy, which has no real estate-investment-led golden visa, is an exception. But it requires investment in either Italian government bonds, start-ups, legacy companies, or even charitable trusts.

Other countries in the European Union, such as Bulgaria, offer immediate residency through realty and other investments, as well as citizenship after a naturalisation period. This is attractive for investors as it includes the prospect of a Schengen area-visa, and subsequently an EU passport, guaranteeing visa-free travel to most major countries.

The UAE programme, real estate consultants added, has become a clincher for developers and investors alike, with developers there offering flexible payment options to keep within regulations such as the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI), by which an individual may transfer $250,000 overseas  per year.

In a region that's currently fraught with instability and wars, UAE's geopolitical stability has attracted more investors in recent months, say local brokers. Between January-June '25 alone, property sales in the UAE reached a record-breaking $89 billion, according to local market sources.

Indian real estate developers have also continued to make a beeline for projects in the UAE, with the diversity of nationalities and concentration of high net-worth individuals (HNIs), often fleeing troubled countries, ensuring steady sales.

Bengaluru-based Sobha plans to increase its market share in Dubai, in both apartments and villas, while Mumbai-based Sunteck Realty plans to launch its first project there in 2026.

"The shortage of quality real estate and steady demand ensures strong sales for developers. Besides, in the recent wars between India and Pakistan, as well as the ongoing tensions between Israel and Iran, many HNIs from these countries left for Dubai or Abu Dhabi. This is in addition to the continuous influx of Russian and Ukrainian HNIs trying to protect their wealth from the prevailing uncertainty in that region," said a leading Dubai-based real estate broker.

The Caribbean option

Boiko said that Grenada is also emerging as an attractive option for investors, with the country offering citizenship for an investment of around $350,000 in government-approved real estate projects, or a larger donation to the National Transformation Fund.

"Grenada has one of the strictest due diligence procedures in the region. We mirror that by pre-vetting every client thoroughly before filing. As a result, we’ve had zero rejections. The process can take longer — but the outcome is what matters. Grenada is not on any US or European travel ban list, thanks to its strong relationships with the US, UK, and EU," Boiko added.