Valuable and in high demand, citizenship by investment is considered a new trophy asset for the wealthy.
A trophy asset – previously described as a rare property and in high demand – is a particularly valuable or essential asset for investors. When it comes to the investment immigration industry, obtaining a second nationality is akin to holding the key to the world.
While traditional investments like bonds, stocks, property, and high-end art remain the go-to for the wealthy, there has been a surge for dual citizenship.
Micha Emmett, CEO of CS Global Partners, has noted the marked increase in citizenship applications over the past year. “The coronavirus has hit us all hard. The way various governments have handled the pandemic has made people second-guess their homeland’s safety and stability,” she said.
“As citizenship experts, what we have seen as a result is an increase in clients wanting to gain mobility in a world that has suddenly become less mobile. From a business perspective, people need to travel to stay competitive. From a family perspective, people want a Plan B – an opportunity to use should they need it or a change of lifestyle should they want it. It’s all about diversifying your options,” Emmett added.
High net-worth individuals are looking to invest in intangible concepts like safety, health and wellness, high-end education, and global mobility. These intangible opportunities depend on the citizenship you possess, and holding multiple citizenships can now be considered as a trophy asset in this new normal.
The pandemic grounded many frequent travellers, highlighting the limitations of their citizenship, leaving many feeling the pressure in nearly every aspect of life. However, individuals who possess dual citizenship were able to move more freely. Knowing that the pandemic will likely remain for the foreseeable future, many HNWI’s have turned to citizenship by investment to alleviate safety concerns and travel restrictions.
Read also: Four Investment Options that High Net-Worth Individuals Should Be Thinking About
Citizenship by Investment: The New Trophy Asset
The wealthy are increasingly acquiring alternative citizenship as a powerful diversification tool. This Plan B is becoming the ultimate insurance policy for those looking to expand their horizons.
Citizenship by investment programmes offers individuals and families the opportunity to legally acquire second citizenship in return for an investment in the host country’s economy.
Such programmes confer citizenship status without causing any major disruptions to an investor’s life, provided they pass all the due diligence checks first, make a qualifying investment and provide all the correct documentation.
There are many benefits to having dual citizenship, including greater global mobility, new economic opportunity, a better quality of life, and improved personal security.
Get in touch with one of our citizenship experts at CS Global Partners to start your dual citizenship journey.