The Luxury Network International Magazine Issue 07
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THE RISE OF THE AFFLUENT IMMIGRANT:<br />
WHY THE WORLD’S RICHEST<br />
ARE CHOOSING TO MIGRATE<br />
<strong>The</strong> Knight Frank World Wealth Report 2017 re-<br />
ports the world’s super-wealthy spend over USD<br />
2.4bn on second citizenship each year, with most<br />
demand coming from China, the Middle East, and Rus-<br />
sia.<br />
Immigration amongst high-net-worth individuals is<br />
‘strong and growing’, the report notes. Indeed, some of<br />
the world’s most affluent businesspeople are choosing<br />
to migrate to other countries and/or adopt second citi-<br />
zenship.<br />
But why do high-net-worth individuals find second cit-<br />
izenship so attractive? Is citizenship-by-investment re-<br />
ally the best use of your money?<br />
Let’s look at the top reasons for wealthy investors choos-<br />
ing second citizenship, and explore the programmes<br />
that prove most attractive.<br />
Why do so many high-net-worth individuals opt for<br />
second citizenship?<br />
While every investor we talk to is different, everyone<br />
shares some common hopes and fears:<br />
Stability, safety and security: Global forced displace-<br />
ment is the highest it’s been for decades. Second citi-<br />
zenship is an insurance policy against this sort of up-<br />
heaval, allowing those with means to secure a better<br />
future for themselves and their family. If you’re one of<br />
the many who worry about increasing political and eco-<br />
nomic turmoil, citizenship-by-investment can offer in-<br />
valuable peace of mind.<br />
Global forced displacement is the highest it’s been for<br />
decades. Second citizenship is an insurance policy<br />
against this sort of upheaval, allowing those with means<br />
to secure a better future for themselves and their family.<br />
Global mobility: Some passports can be very restrictive<br />
46<br />
regarding global mobility, which can be a real hindrance<br />
for anyone who enjoys – or relies on – international travel.<br />
At the time of writing, the top passport-holders could<br />
travel to 160+ countries on visa-free or visa-on-arrival<br />
terms.<br />
Global mobility is an issue of personal and professional<br />
freedom. Of being able to holiday where you want; take<br />
business meetings where you want, without lengthy visa<br />
delays and restrictions. Global mobility is an issue of<br />
keeping up when we live in increasingly globalised societies;<br />
not being able to move freely really can hold<br />
you back.<br />
For high-net-worth individuals, citizenship-by-investment<br />
offers global mobility that might not otherwise be<br />
available – along with genuine personal and professional<br />
benefits.<br />
Trade and investment: Restrictions in global mobility<br />
often also translate to restrictions in trade and invest-