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☆ The rich are getting second passports, citing risk of instability
▼ + stars: | 2024-04-10 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm. The wealthy are building these "passport portfolios" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country. "The U.S. is still a great country, it's still an amazing passport," said Dominic Volek, group head of private clients at Henley & Partners. Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport. According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy.

Persons: Robert Frank, citizenships, Dominic Volek, Peter Thiel, Eric Schmidt, Volek, Henley, It's Organizations: Henley & Partners, ., Henley, Malta, Visa Locations: Wealthy, New Zealand, Cyprus, Portugal, Malta, Greece, Italy, Europe, European, Germany, France, U.S

☆ Record numbers of wealthy Americans are looking for ways to live overseas
▼ + stars: | 2024-03-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

An investment-migration consultancy says record numbers of rich Americans are enquiring about citizenship abroad. Portugal's golden visa program is the most popular option among Americans, Henley & Partners said. AdvertisementAn investment-migration consultancy says that it is seeing record numbers of wealthy Americans looking for ways to get residence rights abroad or additional citizenships. Programs offered by Malta, Spain, Greece, and Italy are also high on American citizens' lists, Henley & Partners said. The programs allow wealthy Americans to live in the USA as their primary residence but relocate "at any point," it said in the report.

Persons: —, Mehdi Kadiri, Dominic Volek, Kadiri Organizations: Henley & Partners, Service, North America, EU Locations: North, Portugal, Malta, Spain, Greece, Italy, USA

☆ Here are the most powerful passports for 2024 — Switzerland tops the list
▼ + stars: | 2024-03-06 | by ( Monica Pitrelli | Marylou Costa | ) www.cnbc.com time to read: +2 min

The 2024 Nomad Passport Index states: "Citizens of different countries deal with very different requirements to pay tax, live freely, comply with regulations, and avoid scrutiny when traveling. In that regard, the number of countries a passport holder may visit does not tell the whole story." A slight corporate tax adjustment in Ireland was more than offset by its top scores for travel and global perception, according to Nomad Capitalist's research team. The drop was caused by a change in UAE tax policy that affected domestic and overseas company owners, including residents with foreign company ownership, it said. Many people are curious to know how their passports compare to their global peers, but that's not why Nomad Capitalist produces the annual ranking, it said.

Persons: Hong Kong, Andrew Henderson Organizations: Nomad, Ireland, United, United Arab Emirates, The UAE, Macao Locations: Ireland, Portugal, Finland, United Arab, Netherlands, Germany, New Zealand, Bulgaria, Hong, China

☆ The 'Robinhood of passports' says it's a mistake to ban golden visas — make them fund affordable housing and refugee programs instead
▼ + stars: | 2023-04-12 | by ( Hannah Towey | ) www.businessinsider.com time to read: +8 min

Portugal and Ireland recently announced they are shutting down their "golden visa" programs. Their less-advantageous siblings, "golden visas," provide temporary residence permits in exchange for investment, as opposed to permanent citizenship. A golden taxInstead of banning golden passports and visas outright, countries should adjust the investment requirements to match their current needs, Arton says. A scandalous historyBut golden passports don't only raise the issue of inequality, the European Commission argues, they also pose a threat to national security. Last year, 282 of Ireland's 306 golden visa applications came from Chinese citizens, The Irish Times reported.

☆ COVID showed the rich that they can't just go wherever they want, so now millionaires are rushing to get 2nd passports: report
▼ + stars: | 2023-03-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Lockdowns shattered the wealthy's belief that their mobility was foolproof, per consultancy Knight Frank. As such, ultra-high-net-worth-individuals are now increasingly pursuing citizenships or residencies overseas, London-based consultancy Knight Frank said in its 2023 report released Wednesday. "US citizens have a 'good passport' with many travel privileges, but COVID threw these out the door," Surak wrote. "The result has been a huge increase in the number of Americans looking into investment migration options," she added. Many are looking at overseas homes where they can live for a few months per year, or places that offer good healthcare, Surak wrote.

☆ Grenada's 'golden passport' comes with tax benefits and makes travel easier — but only if you invest $150,000 in the country first
▼ + stars: | 2022-12-08 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Grenada's citizenship-by-investment, or CBI, program has accepted 1,500 residents yearly since 2013. Gaining Grenada citizenship takes about three months and is less costly than other CBI programs. To be a Grenadian tax resident, the country requires 183 days of residence on the island a year. Jafri added that with a Grenadian passport, a traveler doesn't need a visa to travel to China. The investment in hotel and resort projects costs less than other kinds of real-estate development to help drive tourism to the country, Hallam explained.

☆ Названы страны с лучшими «золотыми паспортами». На каком месте Молдова
▼ + stars: | 2020-12-18 | by ( Mld Media Srl | Степанов Георгий | ) noi.md time to read: +1 min

Странами с лучшими программами получения гражданства за инвестиции, известными как «золотые паспорта», стали Сент-Люсия, Доминика, Гренада, Сент-Китс и Невис, а также Вануату. Традиционно любимый россиянами Кипр и Молдова не были названы, поскольку в этих странах программы гражданства за инвестиции временно приостановлены. Специалисты оценивали такие критерии, как стоимость программы (например, ценник у лидера рейтинга равняется 300 тыс. долларов за лот без учета дополнительных взносов), ее популярность, а также возможность покупки государственных облигаций — один из вариантов получения гражданства (без приобретения недвижимости). Дополнительно учитывались безопасность, безвизовость, благосостояние населения, сроки рассмотрения заявки, условия проживания, право на участие в политической жизни страны, возможность получить гражданство ЕС, отношение к членам семьи получающего гражданство и другие параметры.

Locations: Страны, Доминика, Гренада, СентКитс, Невис, Вануату, Антигуа, Барбуда, Болгария, Мальта, Турция, Черногория, Самоа, Кипр, Молдова, ЕС

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