On 3 November 2020, following a year of catastrophe and chaos, the American people took to the polls in what is arguably one of the most contentious elections in US history.
With over 100 million people set to cast a ballot, all eyes are currently on the midwest as a contest between Donald Trump and Joe Biden hinges on a handful of states. Presently, Democrat Joe Biden is leading with 238 electoral college votes. With the total number of electoral votes needed to win set at 270, no winner has been declared yet. Millions of votes still need to be counted, including in key battleground states like Nevada, Pennsylvania, and North Carolina.
The race for the presidency in the US is usually decided in a small number of key battleground states that switch party allegiance between elections. Thus far, Biden has roughly dominated the East and West coasts, including states like New York and California. Still, his party needs to flip the previously Republican states like Arizona to seal the victory.
With margins thin, one has to deliberate what a win from either party would mean for the American people, the economy and indeed the future of international relations. In light of this, many wealthy Americans are looking to get their families and themselves out of the United States should someone they do not support wins and the country further divides.
The 2020 COVID-19 pandemic, coupled with protracted political unrest in the US, has seen more and more families worldwide looking to second passports as a Plan B and way of securing their children’s’ futures as well as their wealth. High on the priority list for those looking to gain a second passport are key factors such access to greater visa-free travel, safety and security for their families, a stable economy and of course, access to robust health care and educational facilities.
The quickest and easiest way to acquire a second passport is through a Citizenship by Investment (CBI) Programme. The programme offers well-vetted individuals the opportunity to legally acquire a new nationality in return for an investment in the economy of the host country. Such programmes provide citizenship status without causing significant 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.
Just over a dozen countries in the world currently offer CBI. The highest concentration of CBI Programmes is in the Caribbean— a region considered the cradle of second citizenship by investment.
There are many benefits to having dual citizenship, including greater global mobility, new economic opportunity, a better quality of life, and improved personal security.
There has been a notable spike in not only a global movement to secure a second passport, but in particular from Americans who are slowly but surely starting to feel the after-shocks of a tumultuous and politically unsound government. The rise in citizens of the world is a direct result of investors seeking solace in politically stable countries.
“As promoters, we have also seen an increase in demand from Americans,” says Micha Emmett, the CEO of CS Global Partners, a London-headquartered legal advisory and government marketing firm focussing on CBI Programmes. “In critical times, such as elections and pandemics, second citizenship becomes a greener pasture. COVID-19 has left high-net-worth individuals feeling vulnerable as civil rights are curtailed. I feel strongly that the Caribbean is a haven, and so do many Americans who are exploring the opportunity of obtaining dual citizenship in this paradise.”
Whatever the outcome, it’s clear that investors from across the globe are thinking seriously about their futures and where they want to raise their families. COVID-19 has unveiled the weaknesses of governments and their ability to deal with crises. Having a Plan B for one’s family is worth much more than the emotional cost of residing in an unstable political climate.