The outbreak of the new crown epidemic has proved the importance of citizenship by investment as an asset class. It is no longer a luxury for high net worth individuals in developing countries, but a necessity.
According to the "Knight Frank Global Wealth Report", 34% of ultra-high net worth individuals-defined as those with a net worth of more than 30 million US dollars, already have a second passport. Among them, 24% of Asians and North Americans, 28% of Africans, 26% of Oceanians, and 31% of European UHNWIs hold more than one passport, 39% of Middle Easterners, and 41% Latin Americans and up to 58% of ultra-high net worth individuals in Russia hold at least two passports.
The elites began to pursue a more stable and free life, more convenient global travel, and better education for their children. The second passport has become the best way to meet the needs of the newly grown elites. Global elites no longer regard the second passport as a luxury but a necessity. The Caribbean Citizenship Program has attracted the interest of high-net-worth individuals from all over the world, especially China, Russia, the Middle East, Southeast Asia and other countries seeking a second passport. Compared to the first passport, the Caribbean passport can achieve:
1. To achieve greater stability, freedom and security;
2, through the current passport, you can increase visa-free entry into countries for leisure and business travel;
3, seek to improve tax efficiency and investment opportunities outside the country of origin;
4. To find a higher standard of living and improve educational opportunities for your children.
Investors are concerned about: one passport can solve practical problems such as investment, immigration, emigration, overseas asset allocation, children's education planning, and overseas listing of companies in one step. This is for Chinese investors with immigration investment needs. Said it has unparalleled appeal.
At the same time, with the global attack of CRS, in order to resist the risk of asset depreciation caused by economic instability, more and more high-net-worth individuals tend to choose an overseas passport to protect their assets and hedge against risks. .
In the new era, the understanding of immigrants must not just stop at the level of holding a green card and living in immigration prison. In the current environment of continuous global integration, it is urgent to obtain an overseas passport.
1. Cost-effective solutions-projects with prices in the millions will be cold. Investors will definitely tend to use funds more efficiently.
2. Time—Projects that require a very long residence time before naturalization, or that have a long waiting time are no longer popular. What investors need is efficiency and convenience. "Short and stable" projects will be very popular.
3. Protect investors from predatory taxes (taxes based on citizenship) in their country of origin-this is also closely related to the previous paragraph.
4. Protect civil liberties.
5. The opportunity to enter advanced economies. When investors choose investment naturalization projects, economic considerations will become the main factor, and projects with more options will be more popular.
Although China is a big country, there are only 76 countries and regions that can be visa-free and visa-on-arrival. The Caribbean island country of Grenada can be visa-free for more than 140 countries and regions including China, the United Kingdom, the European Union and the Schengen countries. Having a second passport means that more countries and regions can be visa-free, and it can help achieve efficient travel and high mobility for personal development. Although the 2020 epidemic has restricted global travel and mobility, once countries return to normal order, the natural demand for human travel and mobility will definitely prove the necessity of a second passport.