The leading nation among buyers of so called “golden visas”, which allows the buyer to obtain a citizenship or a residence in exchange for investment, are the Chinese, they lead over Russians simply due to numerical superiority. In Latvia 70% of such investments come from Russians. Among the most popular destinations are Cyprus and Malta. According to Knight Frank, 58% of superrich Russians have a second passport of double nationality.
Transparency International and Global Witness claim that often countries do not monitor the origin of the money invested. The investors are mostly interested in passive assets like real estate, and do not invest in innovation and industry that creates jobs. This makes their contribution to local economy questionable.