Many second citizenship programmes are designed so you don’t have to live in (or in some cases ever travel to) the country to gain and maintain your new citizenship. When money is no object, it makes sense that securing the best possible life for you and your family would be high on your agenda. And sometimes, that requires a new country, a new home and a new lifestyle. On average 32% of ultra high-net-worth individuals plan to buy a new home outside their country of residency in the next two years, reports the Knight Frank World Wealth Report 2017. <strong>The</strong> UK, US, France, Switzerland, and Spain are the five most popular locations for second homes, while lifestyle is the most important factor determining location choice. For those with means, citizenship- or residency-by-investment can be the first step in building a new life somewhere you really want to be. Which citizenship-by-investment programmes are most popular? Let’s look at three investment programmes that especial- ly appeal to high-net-worth individuals’ main concerns. 1. <strong>The</strong> US Immigrant Investor Program: When life- style is the most important factor determining location choice, it’s little surprise the US Immigrant Investor Visa is so popular. This EB-5 visa – otherwise known as a green card – allows you to secure permanent US resi- dency for you and your family for an investment from only USD 500,000. As a US resident, you enjoy domestic access to US ed- ucation – no small thing, given that 15 of the top 20 universities in 2018 are from the US. You benefit from world-class healthcare, and a unique culture of oppor- tunity and liberty. For many investors, the US Immigrant Investor Program is a golden ticket to the American Dream. 2. St. Kitts and Nevis: <strong>The</strong> Caribbean is the undeniable birthplace of second citizenship, and remains endur- ingly popular amongst high-net-worth individuals as a means of protecting their wealth. <strong>The</strong> most established of the many Caribbean programmes, St. Kitts and Nevis definitely deserves a mention. St. Kitts and Nevis offers fantastic benefits for global mobility and a laid-back island lifestyle, but the tax ad- vantages are where the programme really comes into its own. <strong>The</strong>re is no personal income tax or capital gains tax, and companies that conduct business exclusively with non-residents are exempt from all income, capital gains and withholding taxes. 48 3. Cyprus: <strong>The</strong>re are a number of citizenship and golden visa programmes across Europe. While they all have their benefits, Cyprus is probably the most impressive of them all. You can secure full citizenship here in a matter of months, and your new passport will unlock 149 countries on visa-free or visa-on-arrival terms. Cyprus offers an attractive relocation destination too, with a high-quality of life and good infrastructure. And you’ll benefit from a very low corporate tax rate of only 12.5%. One of the most interesting benefits of the programme, though, will be your newfound status as an EU citizen – and therefore access to the EU single market. Businesses operating within the EU single market enjoy preferential terms and tariffs and less red tape, making intra-EU trade easier and more profitable. For international businesspeople wanting to unlock trade through the EU, Cypriot citizenship is the obvious answer. What does the future hold for wealthy migration and second citizenship? <strong>The</strong> combination of increased global wealth with decreased stability is likely to fuel continued growth in the second citizenship landscape. As global wealth continues to grow, so will the highnet-worth individuals’ need to amplify and protect it. As global political and economic stability remains tenuous, wealthy individuals will continue to seek refuge in safer, more stable climes. <strong>The</strong> combination of increased global wealth with decreased stability is likely to fuel continued growth in the second citizenship landscape. In turn, more countries are expected to take advantage and set up citizenship-by-investment programmes catering to the world’s wealthy. Ultimately, second citizenship will become the norm for high-net-worth individuals, as more and more people become global citizens. Next Generation Equity specialises in dual citizenship-by-investment and residency-by-investment programmes around the world. To schedule a no obligation consultation, please call the team on +971 4 457 8262, send an email to enquiry@nge.ae. About the author: John Hanafin, CEO at Virtuzone Business With 25 years of experience in the company formation industry, John Hanafin is well known in the UAE and beyond as a specialist in corporate services, and shares a passion for helping others establish and grow their own businesses across the UAE and wider region. John joined Virtugroup in 2017 after spending 12 years with <strong>The</strong> Sovereign Group as their Global Sales Director, and two years as CEO of Arton Capital.
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