The global investment migration industry has long acted as a bridge for high-net-worth individuals (HNWIs) seeking greater freedom of movement, stability, and financial opportunity. Yet for Russians and Belarusians, this bridge has increasingly narrowed. In recent years, geopolitical tensions, sanctions, and restrictions have limited their ability to participate in many established Citizenship by Investment (CBI) programs, effectively excluding them from the benefits of global mobility and economic inclusion.
For instance, applicants from Russia and Belarus who had applied for St. Kitts & Nevis citizenship were affected when, following international sanctions from the EU and US, the government amended its law retrospectively. The decision resulted in the cancellation of these applications, with all investments duly refunded. Similarly, Malta’s Residency Agency has suspended new applications from Russian and Belarusian nationals “until further notice,” with existing beneficiaries reviewed on a case-by-case basis, largely in compliance shifting EU mandates.
Despite this and even before the current heightened political situation, wealthy individuals from Russia and surrounding countries were already leaving the country in significant numbers. Approximately 5,500 HNWIs, around 6% of the nation’s millionaire population, emigrated in 2019. That figure surged to a record 8,500 in 2022, representing nearly 15% of Russia’s millionaires, according to the Private Wealth Migration Report 2023. Though outflows slowed to roughly 1,000 in 2025, analysts attribute this drop not to stability, but to a shrinking base of affluent individuals remaining in the country.
The exodus has been fuelled by sanctions, financial isolation, market volatility, and loss of international access, prompting Russian HNWIs to seek refuge in golden visa and low-tax residency programs that provide not only mobility but a hedge against economic and political uncertainty.
Cultivating Connectivity
However, a new generation of Citizenship by Investment (CBI) programs is transforming how investors from restricted nationalities connect with the world. Among them, São Tomé and Príncipe has emerged as one of the most inclusive and quietly groundbreaking. Launched in 2025, the program has redefined what accessibility in investment migration can look like, extending eligibility to nationalities often excluded elsewhere, such as Russians and Belarusians.
The programme is one of the most affordable in the world, starting at USD 90,000 for single applicants and offering a streamlined 1-2 month approval process with no residency, interview, or language requirements. Dependents may include spouses, children up to 30 years old, parents over 55, and even future family members for an additional fee, ensuring intergenerational flexibility for globally mobile households.
Positioned in Central Africa, the island nation is small but strategically connected, a member of the Economic Community of Central African States (ECCAS) and key international organisations such as the United Nations, IMF, and World Bank, with observer status at the World Trade Organization. These ties reflect its growing credibility as a stable and internationally engaged jurisdiction. Despite its remote charm, São Tomé is also well connected, with expanding air routes linking it to Europe and Africa, making it a practical choice for globally minded investors seeking both stability and mobility.
For Russian and Belarusian nationals, who often face additional layers of scrutiny when preparing documentation or verifying financial records, São Tomé’s approach offers a transparent, inclusive, and solutions-oriented process. The government’s openness aims to attract diverse sources of foreign investment that fuel infrastructure, sustainability, and economic diversification. For investors, it represents not only a way to secure citizenship in a cooperative and forward-thinking nation, but also a chance to align with a program that recognises their global ambitions, free from the limitations of geopolitics.
A Shifting Market
The emergence of programmes like São Tomé’s reflects a broader shift in global investment migration, moving toward a more inclusive and diversified era, where smaller nations are shaping new pathways for mobility and opportunity.
As an officially authorised government partner, Citizenship Invest stands at the forefront of this transformation, helping clients navigate every stage with discretion, expertise, and trust. Connect with our specialists today to explore how São Tomé’s inclusive approach can help you build a secure, borderless future.
