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Unlock global access and explore the ultimate combination of alternative residences and citizenships to mitigate risk and create opportunity for you and your family. Henley Ultimate includes a bespoke suite of leading residence and citizenship by investment programs that can be acquired concurrently, through a single, streamlined application process, carefully managed and facilitated by a dedicated international advisory team.
A Unique Interactive Residence and Citizenship Portfolio Creator
The Henley Ultimate Portfolio interactive interface has been constructed with the ultra-high-net-worth investor in mind. This unique tool enables investors to create their ultimate portfolio of complementary residences and citizenships programs to unlock global jurisdictional access and opportunity.
Residence programs, also known as golden visa programs, provide high-net-worth individuals with the option to relocate and the right to live, work, study, and receive healthcare in their new countries of residence. The holders of residence permits enjoy visa-free access to the host country, and in most cases, they also benefit from visa-free access to additional destinations. For example, holding a residence permit of a European Union member state gives visa-free access to all the countries in Europe’s Schengen Area as well as a range of other destinations.
Citizenship programs provide families with the privilege of acquiring an alternative citizenship, which in turn gives them an additional passport, expanding their domicile options and global visa-free access, and possibly providing them with additional settlement rights in other countries.
The tool is a dynamic quantitative and qualitative comparative model built on the basis of 30 unique indicators, grouped into seven key parameters representing the push and pull factors for investment migration in different countries. Two additional factors — visa-free travel and approximate minimum investment amounts — are considered separately.
With a few clicks, investors can quickly compare their current global access as well as country strengths and benefits, based on up to two existing passports already held. They can then add up to four additional citizenships or permanent residences that can be acquired via participating in programs to produce their Ultimate Portfolio. Read more
The framework specifically includes parameters of key importance to international investors who are considering residence and citizenship programs as a mechanism to improve their quality of life and access to premium education and private healthcare, enhance their travel freedom and global mobility, expand their business opportunities, grow their wealth, and protect their legacies for future generations.
The seven key, top-level parameters are as follows:
Business Opportunity
The Business Opportunity score evaluates the business-friendliness of countries based on gross domestic product (GDP), GDP per capita, GDP growth, and competitiveness.
Key data sources include: IMD/World Competitiveness Center, International Monetary Fund, World Bank.
Climate Resilience
The Climate Resilience score evaluates countries’ ability to withstand and adapt to climate-related risks, based on their exposure and vulnerability to climate hazards, readiness to implement effective adaptation measures, and economic capacity to support long-term resilience.
Key data sources include: University of Notre Dame ND-GAIN Index, International Monetary Fund, World Bank.
Economic Mobility
The Economic Mobility score measures the financial freedoms of countries based on their Henley Passport Power (HPP) scores. Combining Henley Passport Index data and World Bank GDP data, the HPP assesses countries according to the percentage of global GDP to which their passport holders have visa-free access. The maximum possible score is 100, representing 100% of global GDP.
Key data sources include: Henley Passport Index, IATA, World Bank.
Premium Education
The Premium Education score appraises countries based on the efficacy of their private education systems, taking into account their innovativeness, private education capacity (number of top universities and top-tier international schools, private primary and secondary school enrolments), and the quality of education and opportunities for studying they provide.
Key data sources include: International Baccalaureate Organization, QS World University Rankings, United Nations Development Programme Human Development Index, World Bank.
Quality of Life
The Quality of Life score assesses countries according to the happiness and wellbeing of their citizens, the standard of living and quality of life they offer, human development, cost of living, and demographic pressures.
Key data sources include: United Nations Development Programme Human Development Index, World Happiness Report, World Population Review.
Private Healthcare
The Private Healthcare score evaluates countries’ private healthcare systems by assessing domestic private health expenditure and the number of private hospitals and insurance companies in each, health security, and healthcare access and quality.
Key data sources include: Global Health Security Index, HAQ (The Healthcare Access and Quality Index), OECD, World Bank, World Health Organization.
Safety and Security
The Safety and Security score assesses a country’s safety and security through three key indices: the Fund for Peace’s Fragile States Index, which evaluates a nation’s vulnerability to internal and external threats, considering factors such as social, economic, and political stability; the World Bank’s Political Stability and Absence of Violence/Terrorism, which measures the overall political stability and the prevalence of violence or terrorism within a country; and the 2025 SDG Index score (a tool published in the Sustainable Development Report 2025), which incorporates sustainable development goals, providing insights into a nation’s progress towards achieving a balanced and secure socio-economic environment.
Key data sources include: Fund for Peace Fragile States Index, Sustainable Development Report 2025, World Bank.
Please refer to the data sources section below for links.
Two Additional Factors
Visa-Free Destinations
The Visa-Free Destinations score evaluates the travel freedom enjoyed by citizens of a country (or permanent residence holders, in the case of residence by investment programs), based on current Henley Passport Index data, which compares the number of visa-free destinations (out of a possible 227) that can be accessed by passport holders (or resident permit holders if residence program host countries are selected for comparison.
Key data sources include: Henley Passport Index, IATA.
Approximate Minimum Investment
The approximate minimum investment amounts for each residence and citizenship program are presented in US dollars and euros. These are the upfront minimum contribution amounts for the most cost effective option and do not include additional costs and fees. The amounts were all converted on 9 January 2026 using GoogleFinance, hence they are approximate and may vary owing to exchange rate fluctuations. Accurate up-to-date amounts are provided on the relevant program pages for residence and citizenship programs.
The minimum investment amounts for Australia, and Monaco are indicated as zero as there is no minimum investment per se, however there are other requirements that require financial input, such as financial independence, or starting up a business. The minimum amount for Canada refers to the Quebec Investor Immigration Program, which requires a CAD 200,000 non-refundable contribution and a CAD 1 million, fully guaranteed, five-year interest-free loan to the Quebec Government (financing available). The minimum investment for the UAE is AED 2 million for investors of any age for a 10-year visa. There is also a five-year visa option of AED 1 million for investors aged 55 and over. For Serbia, the calculation is based on an annual minimum cost of EUR 6,000 under the Company Formation option, which includes operating costs and residence rental. For Uruguay, applicants must demonstrate a minimum monthly income of USD 1,000, from employment, business, pension, or income from abroad, which has been converted to an annual amount of USD 12,000. This amount may increase depending on family size and circumstances.
Key data sources include: Henley & Partners, GoogleFinance.
Gathering and Computing the Data
The dataset for 199 countries was collected between November and December 2025 from publicly available open databases for the most recent year available.
Any missing values were imputed using the k-Nearest Neighbors (kNN) method. kNN is an algorithm that identifies 'k' samples in the dataset that are similar or in close proximity to each other. The 'k' samples are then used to estimate the values of missing data points. Each sample's missing values are imputed using the mean value of the 'k'-nearest neighbors found in the dataset.
29 of the 30 indicators (namely, excluding Economic Mobility (Henley Passport Power)) were then normalized. For each indicator, the minimum value was transformed into a 0, the maximum value into a 1, and every other value into a decimal between 0 and 1:
x = (x – Min(x))/(Max(x) – Min(x))
Next, the indicators were grouped into sub-parameters according to theme. The scores for sub-parameters were calculated by summing up the weighted values of their indicators.
The scores of six of the seven key parameters (namely, excluding Economic Mobility) were calculated by summing up the values of their sub-parameters, with each given equal weighting. These scores were multiplied by 100 so that the maximum value for each parameter is 100.
Sub-parameter = ∑ weighted individual indicators
Parameter = (∑ equally weighted sub-parameters) x 100
As the Economic Mobility score is a percentage of global GDP out of 100%, by definition, no conversion was required.
The Total Country Score is calculated by summing the scores for the seven key parameters (Visa-Free Access is considered separately), with a maximum possible value of 700:
Total Country Score (out of 700) = Business Opportunity + Climate Resilience + Economic Mobility + Premium Education + Private Healthcare + Quality of Life + Safety and Security
Creating Your Ultimate Portfolio
Step 1 — Add up to two passports that are already held from the 199 countries listed in the dropdown menu.
Step 2 — Select up to four additional residence and/or citizenship programs from the list of options available.
Residence programs are indicated by the word ‘Residence’ after the country name, for example: Australia Residence. The programs lead to resident permits, which have limited visa-free benefits, hence the number of visa-free destinations is lower than that for citizenship programs.
Citizenship pathways are indicated by the country name alone, for example: Antigua and Barbuda. As these options provide the privilege of acquiring an alternative citizenship, which in turn leads to an additional passport, the number of visa-free destinations aligns with the country’s visa-free score in the Henley Passport Index.
As passports and residence permits are added, scores are presented for existing passports and chosen program options across the seven key parameters, and the number of visa-free destinations and approximate minimum investment amounts are also shown.
Step 3 — The Ultimate Portfolio is displayed, indicating the total number of passports and/or residence permits included and summarizing the maximum number of visa-free destinations and the ultimate score possible in each of the seven parameters, depending on the existing passports held and the programs selected. The approximate total minimum investment is indicated in both US dollars and euros.
The total scores for six of the seven key parameters in the Ultimate Portfolio (namely, all apart from Economic Mobility) are computed using the same approach as described above, namely, the weighted sum of the sub-parameters, which are calculated by taking the maximum value for each of the 29 indicators from the range of passports and/or residence permits selected. The final Economic Mobility score (the seventh key parameter) of the portfolio is the sum of the national GDP shares for all of the destinations to which passport holders of the countries selected have visa-free access. This includes the GDP of countries for the passport/s selected in Step 1 and Step 2. As the Economic Mobility score is a percentage of global GDP out of 100%, by definition, no conversion was required.
The total scores for each parameter are therefore unique and do not necessarily reflect the highest score of a particular parameter for any passport or residence permit. The scores rather represent the ultimate possible value for each parameter, taking all options into account, and the increased benefit of the potential investment for the client, which is also shown as a percentage.
For Visa-Free Destinations, the score represents the maximum number of destinations out of a possible 227 that passport holders (in the case of citizenship programs) and/or residence permit holders (in the case of residence programs) can access without requiring a prior visa, by comparing the visa-free lists for each passport and/or permit selected in Steps 1 and 2 and ensuring that each destination is only counted once. Selecting the Global Access view displays the list of all the destinations that can be accessed without having to acquire a visa in advance, also indicated in dark blue on the map.
For Approximate Total Minimum Investment, the US dollar equivalents of minimum investment amounts for each residence and/or citizenship program selected are summed up, and there is an option to see the total in euros.
Note: All figures are rounded.
Data Sources
Business Opportunity
The Business Opportunity score is calculated as the sum of the following indicators, equally weighted:
Climate Resilience
The Climate Resilience score consists of three indicators, which are equally weighted:
Economic Mobility
The Economic Mobility score is derived from the Henley Passport Power (HPP) Index. The HPP score assesses the 199 countries included on the Henley Passport Index according to the percentage share of global GDP to which their passport holders have visa-free access, by taking into account their visa-free/visa-on-arrival scores out of a possible 227.
For example, if a country has a visa-free or visa-on-arrival score of 40 (meaning there are 40 destinations its passport holders can travel to without having to obtain a visa in advance), its Henley Passport Power score is calculated by summing the share of global GDP for each of the 40 destinations as well as its own.
Sources: IATA, International Monetary Fund’s World Economic Outlook Database, The Henley Passport Index, The World Bank
Premium Education
The Premium Education score is calculated as the sum of the following indicators, equally weighted:
Quality of Life
The Quality of Life score is calculated as the sum of the following indicators, equally weighted:
Private Healthcare
The Private Healthcare score is calculated as the sum of the following indicators, equally weighted:
Safety and Security
The Safety and Security score is calculated as the sum of the following indicators, equally weighted:
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The Henley Ultimate Portfolio was first released on 18 October 2022. The visa-free data and Economic Mobility (HPP) data are based on the current Henley Passport Index. The key parameters data was updated in November and December 2025, and currency conversions were most recently updated on 9 January 2026.
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