2023 Golden Visa Prices & Trends: How OpenAI and Google CEOs Secure Second Citizenship

This year, OpenAI co-founder and CEO Sam Altman made headlines as the first individual to obtain Indonesia's newly launched golden visa, joining a growing list of affluent American tech moguls investing in second citizenships and residency programs globally.

Citizenship-by-investment schemes offer ultra-wealthy individuals the chance to acquire passports or long-term visas by contributing financially to a host country's economy, unlocking benefits such as visa-free travel, preferential treatment at borders, and expanded business opportunities.

Key Insights

• Sam Altman became the inaugural recipient of Indonesia's golden visa in 2023.
• Investment-based immigration programs provide wealthy individuals with enhanced global mobility and lifestyle flexibility.
• While controversial, these programs often stimulate significant foreign investments in host countries.

Understanding Golden Passports and Visas

Golden passports and visas are immigration pathways granted in exchange for substantial investments in a nation's economy. Indonesia introduced its golden visa program on September 2, 2023, offering five- and ten-year residence permits aimed at bolstering economic growth. Visa holders benefit from expedited airport processing, extended stays, and simplified entry and exit procedures.

Europe: The Prime Destination for American Investors Seeking Second Citizenship

Indonesia is among several countries providing lucrative immigration incentives. Officials highlight the success of programs in Denmark and the United Arab Emirates as models. However, Europe remains the most sought-after region for Americans pursuing second residencies, with 90% favoring European countries according to recent surveys.

In the European Union, Portugal and Malta stand out for their investment-based citizenship offerings. Malta grants citizenship after a minimum one-year residency and a real estate purchase exceeding €700,000 (approximately $750,000), with total investments starting at €690,000 (around $739,000). Portugal offers residence permits leading to citizenship for investments above €1.5 million ($1.6 million) or real estate acquisitions, requiring only short stays during the first year.

Why Wealthy Individuals Pursue Additional Citizenship

Ezzedeen Soleiman, managing partner at Latitude Consultancy, explains that clients view second citizenships as contingency plans or insurance policies against future travel restrictions or lifestyle changes, lessons learned from the COVID-19 pandemic. Many American clients prioritize EU citizenship due to the freedom of movement it provides across member states, with Portugal and Malta being particularly popular choices.

Tech Industry Leaders Embracing the Golden Visa Trend

Sam Altman

Altman’s acquisition of Indonesia’s 10-year golden visa, valued at $5 million for foreign investors establishing companies, aims to foster development in Indonesia’s artificial intelligence sector. This visa facilitates seamless travel and business operations within Southeast Asia.

Eric Schmidt

The former Google CEO reportedly obtained Cypriot citizenship through the island’s now-suspended golden passport program. Cyprus halted new applications in late 2020 following EU criticism over the program’s lack of genuine ties to the country and concerns about corruption. Despite controversies, several investors have since had their citizenship revoked.

Peter Thiel

Paypal co-founder Peter Thiel gained New Zealand citizenship in 2011 under exceptional circumstances despite limited residency. In 2022, he pursued Malta's investment citizenship program, which requires a minimum investment of $670,000. Malta’s program, like Cyprus’s, faces scrutiny but remains operational.

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