The pattern repeats across jurisdictions. Greece’s €250,000 Golden Visa is Rs.42 lakh costlier within a year. Malta’s programme has become Rs.59 lakh more expensive. Even outside Europe, the effect is visible: New Zealand’s Business Investor Work Visa is up by Rs.42 lakh; the US EB-5 visa costs about Rs.33 lakh more; and Singapore’s Global Investor Programme has ballooned by over Rs.7.2 crore over the year. These are not incremental changes; they are material shifts that can alter feasibility for many Indian families.Currency shockWhat makes the shock sharper is that these headline investment numbers are only the base ticket. On top of them are additional costs that are also foreign-currency-linked. Greece Visa applicants typically incur around €50,000 in ancillary costs. Cyprus levies Value Added Tax (VAT) of about 15% on property investments. Malta charges administrative and professional fees that can run up to € 60,000. When the rupee weakened from around 85 against the US dollar at the start of the year to 90 by December end, every one of these addons swelled, pushing the all-in cost far beyond what families had budgeted.
“Indian applicants are exposed to currency risk because most second residency and golden visa programmes are priced in foreign currencies such as the euro or the US dollar,” says Bhaskar Hazra, Joint Managing Director and CEO, Systematix Private Wealth. Even modest movements in exchange rates can translate into a substantial increase in rupee cost. Hazra points out that the rupee has fallen over 5% year-to-date and breached the 90 mark against the dollar, illustrating how quickly costs can escalate.
Sreepriya N.S., CEO of Entrust Family Office, puts it bluntly: “Indians are very much exposed, and most don’t realise it until the invoice lands.”
Families plan in rupees, but pay in foreign currency, and there is no natural hedge. “Even regulations restrict their ability to hedge planned forex outlay,” says Sreepriya.
A routine 3-5% rupee move, she notes, can add Rs.15-30 lakh to a €250,000-€500,000 programme. In 2025, the damage was larger. Till 26 December 2025, INR has depreciated 6.5% against the US dollar and a staggering 20% against the euro. A € 500,000 programme would mean an Indian family would have to pay around Rs.90 lakh more at the end of 2025 than they would have at the end of 2024. “This is execution risk caused purely by currency timing,” says Sreepriya.
Pricier affair
The hidden add-onsGreece Golden Visa
€50,000 additional costs
Cyprus Golden Visa
15% VAT on property
Malta Golden Visa
€60,000 admin feesWhat smart planning looks likeAccept rupee depreciation as structural, not temporaryBuild the overseas nest earlyThink in foreigncurrency terms, not rupeesPhase remittances when rupee is relatively strongSet up overseas banking & investment platforms earlyCost of waitingBeyond currency risk, policy shifts, quota caps, investment hikes and compliance changes also shape global residence planning.“Last-minute planning exposes families to multiple risks simultaneously,” says Hazra. “They lose control over exchange rates and are forced to convert rupees at prevailing levels. Large investments often exceed the annual outward remittance limit under the Liberalised Remittance Scheme, which means applicants may struggle to complete payments on time,” says Hazra.
Andri Boiko, Founder & Global CEO of Garant In, sees this repeatedly. “Rapid depreciation can force families to tap additional LRS limits or add a second remitter, complicating structuring and execution,” he says. “Since investment thresholds, fees and property values are foreign-currency linked, every 1-2% rupee slide directly inflates the INR outlay, often by several lakhs per tranche,” says Boiko.
Boiko recalls cases where families were fully eligible but still failed. A file can be perfect on paper and still fail in practice simply because execution was pushed back by a few months while costs and rules moved. Boiko cites an Indian family targeting a € 250,000 route when the euro was Rs.95. “The core investment was about Rs.2.4 crore and comfortably within their LRS and liquidity. They delayed for six months, and by then EUR/INR was closer to 105. The same investment meant about Rs.2.6 crore, plus higher fees. Their budget rose by Rs.25-30 lakh, which they were unwilling to stretch to,” says Boiko.
The rupee has been structurally getting weaker over the years. “Global residencyby-investment programmes are effectively becoming more expensive for Indians, even when official euro or dollar thresholds stay flat,” says Boiko. At the same time, programme thresholds themselves are rising. Greece has raised minimum real estate prices to € 400,000–€800,000 in many zones; Portugal’s fund route is set at € 500,000. The Reserve Bank of India’s LRS cap of $250,000 per person does not adjust with rupee weakness. “A family that could previously fund a golden visa using a single applicant’s quota may now need to pool limits from multiple family members,” Boiko notes.
Build an overseas nest earlyExperts say that early planning involves spreading investments over time, locking in costs where possible, and structuring banking and tax arrangements well in advance.
Sreepriya calls it a mental shift. “Global investors must start thinking in dollar terms. Once families view global residency costs in foreign-currency terms, it becomes easier to plan, phase investments and manage timing.” Practically, this means gradually converting part of net worth into foreign-currency assets, setting up overseas banking platforms early, and gaining clarity on tax and inheritance implications.
Rohit Bhardwaj, Country Head at Henley & Partners, says, “Careful financial planning, conservative assumptions, and early action are key to avoiding unpleasant surprises.” Planning early means building overseas exposure gradually. Spreading investments reduces currency risk and avoids being forced to invest at unfavourable exchange rates. Also, keep multiple jurisdictions and routes open, and avoid lump sum remittances driven by short-term currency swings.