The Global Mobility Brief · May 2026 · GSC International × Second Passport
GSC International × Second Passport
Monthly Report Vol. 01 · May 2026
The Global Mobility Brief

The Quiet Year
Of Reordering.

Why the most searched program of the year may be the least useful, and what serious investors are doing while everyone else is reading headlines.

Mr. Murat Bozfakioglu
Murat Bozfakioglu Head of Citizenship & Residency
GSC International · Dubai

A first word, before
the headlines.

This is the first issue of a monthly brief written for the kind of people who quietly think about the world the way our clients do. Not as a fixed map, but as a set of options waiting to be chosen well.

A great deal has shifted in citizenship and residency over the past twelve months. Malta's investment route, which defined our industry for over a decade, is no longer accepting applications. A new American program has dominated global search interest while producing a single approval to date. Caribbean prices have held. European thresholds have moved up. The UAE has done what it has done quietly for fifteen years now, which is to keep widening the door.

In every issue, you will find what changed in the market, the regulatory updates worth your attention, a closer look at one program our clients are asking about most this month, and a short story from a recent file that may sound familiar.

I hope it gives you a clearer view of where the doors are still open, and which ones are quietly closing.

Murat Bozfakioglu
Head of Citizenship & Residency · GSC International
Section 01 · The Search Pulse

What the world is asking about
this month.

A snapshot of where the global conversation around investment migration is sitting in May 2026. Three programs draw most of the attention. Only one of them is yours to act on today.

Trump Gold Card
82K
Global monthly searches
UAE Golden Visa
41K
Global monthly searches
Portugal Golden Visa
25K
Global monthly searches
Section 02

Market Update.

Investment migration is moving through its deepest transition in four decades. Three forces are shaping the year ahead, and each one is showing up in what people are searching for.

01

The most searched program is the least available.

The Trump Gold Card has generated more search traffic than any other investment migration program in the world this year, peaking at over one hundred thousand monthly searches in December and still pulling roughly forty-five thousand in May. As of late April, the program has issued one approval. One hundred and sixty-five applicants have paid the fifteen thousand dollar processing fee. The contribution dropped from five million to one million dollars, and a court filing now suggests gold card applicants will not receive faster visas than under the existing EB-5 route. Curiosity has not translated into a usable program. For investors with the United States in mind, EB-5 remains the only proven path on the desk today.

02

The UAE is quietly building the most flexible long-term residency in the region.

Through 2025 and into 2026, the UAE has added five new categories to the Golden Visa: nurses with fifteen years of service, teachers, content creators, e-sports professionals, and Waqf donors contributing to humanitarian causes. The fifty percent down payment requirement on property investments was removed in February 2026. Mortgaged property now qualifies, provided the total title deed value reaches two million dirhams. For our clients already living in the UAE, the practical effect is significant. The Golden Visa now bends to where you are, rather than asking you to bend toward it.

03

Greece has shifted, and the market has noticed.

Following the September 2024 overhaul, Greece moved to a zone-based pricing system with eight hundred thousand euros for prime areas and four hundred thousand for the rest of the country. Short-term rentals on Golden Visa properties were banned with a fifty thousand euro fine for violations. The result, according to industry data, is a drop of more than eighty percent in non-EU buyer interest in the first quarter of 2026 compared with the same period a year earlier. The Greek Golden Visa is still open and still valuable, but it now rewards a different kind of buyer than it once did. The price-conscious diversifier has been replaced by the lifestyle and legacy buyer.

Section 03

News & Regulations.

United States Trump Gold Card
Formally launched in December 2025 at a one million dollar contribution plus fifteen thousand dollar processing fee. By late April 2026, one applicant had been approved and one hundred sixty-five had paid the processing fee. The administration's claim of one point three billion in early sales has not been substantiated. A five million dollar Platinum Card with two hundred seventy days of US tax exemption on non-US income remains on a waitlist. Legal challenges are pending.
United Arab Emirates Golden Visa Expansion
February 2026 reforms removed the fifty percent down payment requirement on property investments. Mortgaged property now qualifies. New eligibility categories added in 2025 and 2026 include Waqf donors, content creators, educators, nurses, and e-sports professionals. Over two hundred fifty thousand long-term permits have been issued under the program since 2019.
Greece Golden Visa
Zone-based pricing is now fully in effect with no transitional exceptions. Non-EU buyer interest dropped over eighty percent in early 2026 according to property consultancy data. Short-term rentals are banned on Golden Visa properties with a fifty thousand euro fine and permit revocation. New legislation proposed in January 2026 aims to streamline the backlog of forty-two thousand pending applications.
Caribbean Five Programs
The standardised two hundred thousand dollar minimum across Antigua and Barbuda, Dominica, Grenada, and St. Kitts and Nevis holds into its second year. American applications to Antigua and Barbuda have risen sharply, now representing more than half of all 2026 applications to date. Due diligence requirements continue to tighten across all five programs.
Türkiye Citizenship by Investment
Thresholds remain steady at four hundred thousand dollars for real estate or five hundred thousand dollars for bank deposit. Processing continues in the three to five month window. The program remains one of the few global routes that delivers full citizenship rather than residency, and it retains its valuable E-2 Investor Visa eligibility for the United States after three years of Turkish residency.
European Union ETIAS Launch
The European Travel Information and Authorisation System is set to launch in late 2026 and becomes mandatory in October 2027. Industry observers expect the system to function as a soft re-screening layer for citizens of visa-free countries entering the Schengen Area, with particular implications for holders of Caribbean and Pacific passports.
Section 04

Program Spotlight.

Full Citizenship Three to Five Months

Türkiye Citizenship
by Investment.

In a year where most European routes deliver only residency, and where the most discussed American program has produced almost no approvals, Türkiye remains one of the few global routes that grants full citizenship in a defined timeframe. Here is why it has quietly become the most considered file across our Dubai and Istanbul offices this quarter.

The Essence

The Turkish Citizenship by Investment program grants full citizenship for the main applicant, spouse, dependent children under eighteen, and children of any age living with disabilities. The Turkish passport offers visa-free or visa-on-arrival access to over one hundred ten destinations including Japan, Hong Kong, Singapore, and Brazil. Most importantly for clients with North American plans, Turkish citizenship opens eligibility for the United States E-2 Investor Visa after three years of Turkish residency, renewable every five years.

Investment Route 01
USD 400,000
Real estate acquisition · Capital can be sold after three years
Investment Route 02
USD 500,000
Bank deposit · Capital recoverable after three years
Processing Time
3 to 5 Months
From engagement to citizenship documents in hand
Status Granted
Full Citizenship
For life · Passable to descendants · Dual citizenship allowed

Why It Holds Its Ground

Most of the conversation in our industry over the past twelve months has been about the closure or restructuring of programs. Türkiye is one of the few that has held its terms, kept its processing fast, and continued to deliver what it promises. The country sits at the geographic and commercial crossroads of Europe, Asia, and the Middle East. For business owners across the Gulf and the Middle East, it is also a base, not just a passport.

The real estate route allows the investor to acquire an asset rather than donate capital. The bank deposit route preserves liquidity in full. Either path requires the funds to remain in place for three years before they can be recovered or redeployed.

The E-2 Pathway

This is the detail that most prospective clients overlook in their first conversation with us. Türkiye is one of approximately eighty countries whose nationals are eligible to apply for the United States E-2 Investor Visa. The E-2 allows the holder, spouse, and unmarried children under twenty-one to live and work in the United States indefinitely, renewable in five year increments, provided the underlying business investment remains active. For families considering both a European and a North American footprint over the next decade, a Turkish passport is a quietly powerful instrument.

Worth Knowing

Turkish gift and inheritance tax applies to the worldwide assets of Turkish citizens. For some clients, this changes the equation. For others, with appropriate planning in advance, it does not. We address this in the first conversation, not the last.

"We did not want America today.
We wanted the option for our son."

A UAE-based business owner of South Asian origin came to our Dubai office in February. He had been following the news about the American gold card and wanted to understand whether it was a serious route for his family. His son, sixteen, had his eyes on a US university and the family wanted to know if any of this would matter to them in three years.

We walked through the numbers honestly. The gold card had approved one applicant by then. The processing remained tied to existing EB-1 and EB-2 visa categories. Even if the program functioned, his son would benefit from a US education on a student visa long before the family's gold card materialised.

The conversation turned to what would actually work. The family already held UAE Golden Visas. What they were missing was a passport that gave their son optionality regardless of where he chose to settle after university. We modelled three options. Türkiye was the strongest fit. The real estate investment kept their capital in an asset rather than a donation. The four month processing meant citizenship documents would be in hand before the academic year began. The passport opened E-2 eligibility for the United States after three years of Turkish residency, which sat neatly alongside their son's planned university timeline.

The family completed the investment in March. Citizenship documents were issued in July. The father told us the most reassuring part of the process was that none of it depended on a single piece of news. The route had worked the same way the previous year, and would work the same way the next.

Section 06 · Private Webinar Series

Beyond The Headlines.

An invitation to a private monthly session

Every month, GSC International and Second Passport host a private session for a small group of qualified individuals. The room is small by design. Each session brings together our lawyers and partners to discuss what is actually happening on the ground in the programmes that matter, the questions our clients are asking in their first meetings, and the moves the market is preparing to make next.

Our team shares perspectives that are rarely written down. The practical timing of applications. How immigration officers are interpreting new rules. The trade-offs that look obvious on paper and prove different in practice. The discussion box stays open throughout. You ask. We answer.

To attend the next session, or to discuss your own situation directly with Mr. Murat, request a private 30-minute appointment below.

By Invitation · 30-Minute Session · Mr. Murat
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