Citizens of the World Have More Than 1 Passport
Citizens of the world opt for more than 1 passport, as they look for security and peace of mind in a troubled world.
Wealthy buyers “are looking for security” said the Chairman of Henley & Partners, which provides citizenship advice and publishes rankings such as the Quality of Nationality Index. They want peace of mind in case of a revolution or other upheaval in their home countries, he said.
Many nations including the US allow legal residents the chance to apply for citizenship after meeting certain criteria, only 10 countries permit outsiders to acquire citizenship outright. Most require payment in the form of a DI (direct investment), typically in property or a local business.
8 of the 10 are classified by the IMF as offshore financial centers, and stability, not tax avoidance, is what motivates most buyers.
That plus bragging rights. “If you have a yacht and 2 airplanes, the next thing to get is a Maltese passport and a crest,” he said. “It is the latest status symbol. We have had clients who simply like to collect a few.”
The Big Q: How much does citizenship Cost?
The Big A: Each country requires a certain minimum investment, the details, as follows:
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