Citizenship-by-descent programs are drawing to a close: investment migration in the news this week (expert roundup)

This week’s investment migration headlines were dominated by one recurring theme: citizenship-by-descent schemes are running into growing barriers. Experts from consulting and law firms point to tighter documentation requirements, longer processing times, and shifting priorities for applicants who want more predictable outcomes for themselves—and for future generations.

The roundup includes:

• Elena Ruda (Immigrant Invest)
• Judi Galst, Christian Kaelin, Dominic Volek (Henley & Partners)
• David Lincoln (Lincoln Global Partners)
• Jean‑François Harvey (Harvey Law Group)
• Eric Major (Latitude Group / Latitude World)
• Nuri Katz (Apex Capital Partners)
• David Lesperance (Lesperance & Associates)
• Christopher Mason (American Lending Center)
• Micha Emmett (CS Global Partners)

Maison Global — “Goodbye, second citizenship”: why the era of citizenship-by-descent may be ending

Elena Ruda, co-founder and managing partner at the visa consultancy Immigrant Invest (Malta), said the “golden years” of citizenship-by-descent programs are coming to an end.

In her view, worldwide this pathway is gradually turning into a bureaucratic maze: language requirements are becoming stricter, document checks are effectively stretching out across generations, and processing times are extending to 5–6 years.

At the same time, as Judi Galst notes—managing director for private clients at Henley & Partners (New York)—even amid new restrictions, citizenship-by-descent remains one of the most “established” and economically attractive routes to an EU passport through investment channels.

She adds that many family-based options do not require direct financial outlays or buying property; the key factor is a documented family connection.

David Lincoln, managing director at Lincoln Partners (Dubai), meanwhile said that as certain programs tighten, interest among some U.S. applicants is shifting toward Eastern Europe.

“The cheap, fast, and ‘no real estate’ version is, in many ways, already dead,” he said.

The Washington Post — the EU tells Caribbean countries to stop selling citizenship

The Washington Post reports on the EU’s position: countries in the Caribbean region that continue selling citizenship may face tougher visa requirements.

As Jean‑François Harvey, an attorney and business immigration specialist, points out, investment citizenship programs have long carried a negative reputation.

At the same time, according to the expert, Harvey Law Group handles more than 100 clients per year considering Caribbean citizenship. “Some applicants want to live in the country, but most — in Harvey’s assessment — pursue a second citizenship mainly for estate and tax planning, as well as for ‘security’.”

Forbes — U.S. tops freedom rankings at #10, while alternatives offer more

Against a broader shift in priorities for freedom of movement, experts say interest in “second” and “third” passports is rising. According to Forbes, the United States replaced China as the largest market for clients seeking alternative citizenship or residency options.

Eric Major, CEO and chairman of Latitude World, said that more than 60% of Americans earning over $200,000 are considering relocating within the next five years. These findings are linked to research prepared by Apex Capital Partners.

A similar logic is expressed by Dr. Christian Kaelin, chairman of Henley & Partners and creator of the Henley Passport Index: “We’re seeing a shift in how families think about the future. Real wealth isn’t only financial capital—it’s the freedom to choose where to live, work, study, invest, and ‘belong’ for future generations.”

Fortune — “the wealthy” are looking for an exit: Argentina aims to become a serious player in the migration economy

Fortune discusses how different jurisdictions compete for the attention of affluent investors. Nuri Katz lists the factors that make Argentina attractive: the country has major hydrocarbon reserves, including the Vaca Muerta formation, along with potential in extraction and related sectors—from minerals to agriculture.

Another supporting point is Argentina’s trade volume with the EU, estimated at roughly $22 billion per year.

Dominic Volek, a residency and citizenship consultant for ultra‑high‑net‑worth families at Henley & Partners, believes Argentina could become a “serious competitor” in wealth migration and investment migration.

“For our business—and for the investment migration industry as a whole—this could be a noticeable ‘game changer,’” Volek says.

At the same time, Katz highlights an important nuance: “There is no ‘golden visa.’ These are temporary statuses that can disappear. Only citizenship provides the confidence that a person can remain in the country indefinitely.”

David Lesperance (an international tax and immigration consultant with more than 30 years of experience) advises clients to treat citizenship and residency as insurance against an ‘unexpected fire’: from natural disasters and political violence to antisemitism, mass persecution, and stricter tax regimes.

“If you view alternative residencies and citizenship as an ‘insurance plan,’ people might not leave if nothing truly catastrophic happens. But I understand it’s possible—and I have the tools to protect the family,” Lesperance explains.

Times of India — draft rules narrow bridge financing flexibility for EB‑5

Times of India covers a proposed regulatory change that could limit the previous practice of bridge finance in EB‑5 projects.

Christopher Mason, chief communications officer and attorney at American Lending Center (operator of an EB‑5 regional center), reminded readers: previously, USCIS accepted this structure when the bridge financing was temporary and part of the original financing plan. That allowed projects to move forward without delays, and EB‑5 investors to receive credit for jobs created during the construction stage.

However, Mason says the proposed change reduces that flexibility: if the rules are adopted as written, EB‑5 investors would not be able to claim credit for job creation when EB‑5 capital is used to repay the bridge loan. At the same time, employment counting would begin only after EB‑5 capital is actually injected into the project, which could occur later in the development lifecycle.

Daily Post — investment citizenship is entering the “strongest period,” experts say

Daily Post offers a more optimistic take: what some see as the “end of the industry” may actually be a phase of strengthening and fine-tuning the approach.

Micha Emmett, CEO of CS Global Partners, says: “Investment migration isn’t shrinking—it’s evolving.”

“We believe the next few years will be the strongest period in the industry’s history,” he adds.

Bottom line: amid tightening in specific routes (including citizenship-by-descent), the investment migration market continues to redistribute demand. Applicants and advisors are increasingly discussing not only processing speed, but also the durability of status, the predictability of rules, and long-term plans for the family.

If you’re considering investment migration as a more predictable alternative to citizenship-by-descent, it’s crucial to base your decision on up-to-date requirements and a clear strategy. This week’s expert coverage highlights the same trend: rules are tightening, timelines are stretching, and applicants are shifting priorities toward programs with more defined criteria. At Digital Nomad, we help you navigate investment residency/citizenship options and prepare your application package for today’s standards.

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