Investing in a citizenship emerged the most important investment amidst a global pandemic. Many agents in the citizenship and residence planning industry are reporting a spike in inquiries, amidst a global pandemic and lockdown.
Citizenship itself can most powerful than anything else. Citizenship first of all provides safety, security, basic rights and full freedom to all citizens.
The Coronavirus chaos taught us the importance of having alternative citizenships. Citizens have full rights to exercise cannot be barred from entering their country unlike, visa or residence holders.
This Covid-19 travel list shows over 90% of the countries have allowed entry of their citizens. This number declines for residence holders and far worse for visa holders. This tells us the value of being a citizen.
Dual citizens equally enjoy for all basic healthcare and education rights.
Investing in a second citizenship is a must in this pandemic world for all Wealthy and HNW families. The key here is planing well in advance not last minute, after all the citizenship formalities takes months.
Citizenship can also be structured to serve as life and political insurance offshore. It is also a safe asset class for asset protection offshore. For example investing real estate assets cannot be seized making it a safe asset class. This is also a reason citizenship for real estate investments became a major hit.
We do foresee a lot of positive changes in the future.
We believe once the pandemic situation eases, the demand for citizenship and resident status will be more than ever, and the acceptance of dual citizenship will be more. No matter what, citizenship will not lose its shine and value.
We could well see prices for citizenship prices for investments coming down, as governments are hard-pressed for foreign investments, at a time the economic life blood – travel, tourism and business have come to a grinding halt. The Job losses are putting a heavy burden on governments to introduce economic stimulus package.
In the aftermath of Covid-19, some countries could gain and lose in this game of citizenship status.
The Covid-19 will also change passport power. You can compare the passport power before covid-19 and aftermath when the pandemic began. You will realize the passport power completely collapsed during travel bans, all of a sudden once worst passport in the world is a far better passport than US or UK.