What is open and closed for Russian citizens

An overview of residence and citizenship programmes: where a Russian passport is not accepted, where the rules contain no ban, and what limits the banks.

Checked on: 4 October 2026

For a Russian citizen the choice of a programme starts not with the price but with three questions: does the programme accept applicants with a Russian passport, which bank has to receive the money, and what the status gives in practice. The main destinations are collected below with dates and links to primary sources.

Citizenship by investment: the Caribbean and Malta

The five Caribbean states with citizenship by investment programmes do not accept applications from citizens of Russia and Belarus. In March 2023 the prime ministers of the five countries agreed a common position; Grenada, the last of the five, stopped taking new applications from 31 March 2023. Malta's programme is closed to all applicants.

Country	Status for Russian citizens	Basis
St Kitts and Nevis	Closed	Exclusion Order, SRO 27 of 2023 dated 27 July 2023: citizens of Russia and persons ordinarily resident in Russia are excluded
Dominica	Closed	List of banned nationalities on the website of the government unit CBIU
St Lucia	Closed	Programme notice: the suspension of applications remains in effect
Grenada	Closed from 31 March 2023	Agreement of the five states; IMA Circular No. 2 of 8 March 2023
Antigua and Barbuda	Closed	Agreement of the five states, announced by the prime minister in March 2023
Malta	Programme closed to everyone	Judgment of the EU Court of Justice in Case C-181/23 of 29 April 2025

A second passport does not always lift the ban. St Kitts and Nevis excludes both citizens of Russia and persons ordinarily resident in Russia, whichever passport they present.

Turkish citizenship

The Turkish programme is in operation. The main option is the purchase of real estate worth at least USD 400,000 with an undertaking not to sell it for three years. Other options: a bank deposit, government bonds or fund shares of at least USD 500,000 held for three years. The decision on citizenship is taken by the President of Türkiye. The published conditions contain no restriction by the applicant's nationality.

A Turkish passport does not give visa-free entry to the Schengen area: Turkish citizens need a visa.

Residence in EU countries

There is no EU-wide ban on granting investor residence permits to Russian citizens: each country decides for itself. The picture is therefore uneven.

Country	Programme	Status for Russian citizens
Italy	Investor Visa for Italy: from EUR 250,000 in a start-up, from EUR 500,000 in a company	Suspended for citizens of Russia and Belarus by an order of 14 July 2023; since March 2024 also for holders of a second passport
Greece	Residence by investment	Issuance and renewal suspended by order of the Minister of Migration of 28 February 2022 until further notice. The current status is checked before applying
Hungary	Guest Investor: real estate fund units from EUR 250,000	The published conditions contain no restriction by nationality
Cyprus	Permanent residence: an investment from EUR 300,000 and income from abroad from EUR 50,000 a year	The published criteria contain no restriction by nationality

The absence of a ban in the rules does not guarantee that an application will be accepted: the practice of authorities and banks changes without publication. Eligibility is confirmed in writing before any fees are paid.

EU banks: the EUR 100,000 limit

Article 5b of EU Regulation 833/2014 prohibits banks in the European Union from accepting deposits from Russian citizens and persons residing in Russia if the client's total deposits at one bank exceed EUR 100,000. The prohibition does not apply to citizens of EU countries, the European Economic Area and Switzerland, or to holders of a temporary or permanent residence permit in those countries.

The practical conclusion: a residence permit in an EU country is needed not only to live there but also for ordinary dealings with a European bank. Statuses of other countries, including the UAE and Türkiye, do not lift this limit.

Schengen visas

On 7 November 2025 the European Commission changed the rules for issuing visas to Russian citizens: multiple-entry Schengen visas are, as a rule, no longer issued, and a new visa is needed for each trip. Exceptions exist for close relatives of EU citizens and of Russians legally residing in the EU, for transport workers and for certain other categories of applicants.

United Kingdom

The Tier 1 (Investor) visa has been closed to new applications since 17 February 2022, and status cannot be obtained by investing money. The routes in operation are based on a person's own business and achievements. Innovator Founder is for founders of an innovative business: an endorsement from an approved body is required, and the visa is granted for three years. Global Talent is for recognised and promising specialists in science, culture and digital technology: an endorsement from a body in the field or a prize from the approved list is required.

UAE

The UAE Golden Visa is granted to investors for an investment from AED 2 million: in real estate, in a deposit with an investment fund or in company capital. The published conditions contain no restriction by nationality. Official sources differ on the visa term for property owners: the ICP authority states 10 years, the government portal u.ae states 5 years. The term is confirmed when applying.

Duties in Russia

A Russian citizen who obtains the citizenship of another state or a document giving the right of permanent residence abroad must notify the Ministry of Internal Affairs within 60 days (Article 11 of Federal Law No. 138-FZ of 28 April 2023). If the person was abroad during that period, the 60 days run from the day of entry into Russia.

From 8 December 2025 the Bank of Russia lifted the limits on foreign currency transfers abroad for Russian citizens. Whether the receiving bank accepts the transfer depends on its own client checks.

What follows from this

Of the citizenship by investment programmes reviewed here, the Turkish one is open to Russian citizens; the Caribbean ones are closed.
A residence permit in an EU country solves two tasks at once: the right to live there and dealings with a European bank without the EUR 100,000 limit.
In the United Kingdom status is not bought: the route is built on a business or on professional achievements.
Before paying fees, two written confirmations are needed: that the programme accepts your application and that the receiving bank will accept the payment.

Sources

This material is for reference only and is not legal, tax or investment advice. Programme terms change: verify them against the primary source before deciding.

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