Report for 2025 fiscal year · Published: January 15, 2026 · Next report: January 2027
Independence principles
Investment-Migration.com never accepts money from agencies for inclusion in the ranking or changes to their position. The chief analyst's compensation is not tied to agency positions in the ranking. We do not participate in agency affiliate programs and do not place sponsored content under the guise of editorial materials.
Revenue structure 2025
Total revenue for 2025 — €347,000. Structure:
- B2B subscription — €198,000 (57%). Extended quarterly reports for financial advisors, family offices and law firms. 142 corporate subscribers.
- Contract analytics — €89,000 (26%). White-label research for 7 law and migration firms. Contracts are signed before publication of a quarterly release and do not affect the content of public materials.
- Academic grants — €40,000 (11%). Research contracts with WU Wien and European Real Estate Society.
- Advertising on the site — €20,000 (6%). Context ads from financial consultants and currency transfer services. The ad is labeled "Advertising" and does not appear in articles.
Expense structure 2025
Total expenses — €312,000. Main items:
- Editorial staff (7 people) — €198,000 (63%)
- External experts and reviewers — €34,000 (11%)
- Technical infrastructure (hosting, licenses) — €28,000 (9%)
- Legal and accounting services — €24,000 (8%)
- Office rent and admin — €18,000 (6%)
- Marketing and PR — €10,000 (3%)
Net profit 2025: €35,000. Reinvested into editorial expansion and research grants for 2026.
Who gives us money
We publish lists of top 10 subscribers (anonymized by company size, not name) and all contract research clients (named, with contract subject):
Contract research 2025
- Fragomen Worldwide — immigration consultant market research
- Henley & Partners — comparative analysis of CBI programs 2020–2025
- Astons Ltd (anonymous for us until this disclosure) — passport index comparison
- Pafilia Property Developers — Cyprus PR market data update
- Casa de Investimentos — Portugal Golden Visa fund analytics
- Private family office (CH) — closed research, publication prohibited
- WU Wien — academic research on EU investment migration
Important: Astons and Pafilia appear in our ranking of agencies. We disclose that in 2025 we received payment from them for separate research. These contracts do not affect positions in the ranking — positions are determined by methodology before the start of any commercial relationships.
Conflicts of interest
In addition to the above contract research, we have no financial, family or ownership ties with agencies from the ranking. The chief analyst Dr. Markus Hofmann does not hold stakes in any Golden Visa agencies, is not on the boards of real estate developers and does not receive commissions from client transactions.
Editorial independence
All editorial decisions are made by the editorial team without any obligations to subscribers, advertisers or research clients. Clients of contract research see the result 48 hours before publication (for fact-checking and factual errors), but cannot influence conclusions or ratings.
Independent audit
Financial statements are audited annually by KPMG Austria. The full audit report is available upon request from Austrian regulators or academic institutions. For journalists and researchers — editorial@investment-migration.com with subject "Audit".
Updates and corrections
If we find factual errors in a previous disclosure report, corrections are published openly in a separate section with the date of the error and date of correction. The 2024 report had no corrections.