The significance of citizenship is a crucial point in the discipline of international relations, and the evolution of citizenship has become a key factor in the debate on the impact of globalization on the nature of states. Scholars are particularly concerned about whether globalization conditions, such as increased mobility of people, transnational threats, and capital flows, have made the nature of citizenship more liberal or stricter? In recent years, investment citizenship projects such as gold visas and gold passports have become catalysts for the transformation of citizenship, and have sparked a series of discussions and research on the construction of citizenship under the background of openness and restrictions. This article examines the impact of investment citizenship (Gold Visa, Gold Passport) projects on citizenship liberalization or other aspects. The approach taken takes into account the experiences of core and peripheral countries in this liberalization debate and raises the question of how investing in citizenship affects the construction of citizenship in core and peripheral states? Research has found that these projects further liberalize core and peripheral states at the level of formal citizenship, but their impact at the level of informal citizenship is vastly different.