Wealth and citizenship go hand in hand, synonymous and inseparable like two faces of the same coin. What exactly is the connection between wealth and citizenship?
Citizenship is important strategy for wealth protection, at the same time many world nations provide red carpet welcome for economic investments from wealthy individuals, offering a direct citizenship path. Citizenship is a new modern day safe haven investment, powerful tool and status can achieve all these three protections:
- Life protection
- Wealth protection
- Asset protection
We cannot ignore the fact that we live in a chaotic world. The instability caused by global events such as covid pandemic, brexit and racial violence sends chills and shockwaves. Some of the richest people in the world have already a Plan B in place. Alternative passports that come with citizenship are the modern day insurance insurance policy to protect your loved ones, providing a safe passage should anything happen. Passports are a life saver during any crisis.
A Plan B is must for all country nationals.
– Jim Rogers
For many years, America has been home to some of the wealthiest people in the world producing more millionaires and billionaires. This trend is changing. While China and India have a largest population of wealthy people, Africa is the new face of wealth in modern times.
The Richest people in the world do not want to be trapped in their own country preventing them to explore opportunities and freedom abroad to start a new life. Draconian government policies and harmful tax regime push the wealthiest people in the world to look for alternative citizenship or residence for asset protection abroad.
Wealthy individuals and families can take advantage of economic citizenship by investment programs that offer quick passport in just about few months. Citizenship legislative acts provide a solid foundation conferring fast track citizenship status for exceptional individuals who contribute to the state fund, bonds and real estate, waiving all other naturalization conditions. It is important to note that citizenship is only granted after proper background checks done on applicants and their family members.
The New Trend among Wealthy in 2021 is investing in passports not visas
We see investing in families can be the best covid investment ever compared to traditional assets such as commodities, stocks, bonds etc.
Acquisition of second home in exchange for permanent citizenship and residency in Europe, Caribbean is also becoming extremely popular, ensuring privacy. It is also a first important step to start asset protection abroad to pass down the property to family descendants without any estate or inheritance taxes.
Citizenship is a very important powerful status. With the Covid travel restrictions in place, only citizens are given unrestricted entry to enter their own country. Entry restrictions are in place for some types of residents, while visa holders are denied entry with some exceptions.
With 70% of the world countries have opened up for accepting more than one nationality, the notion of becoming a ‘world citizen’ through multiple citizenships, first proposed by Socrates about 2500 years ago is becoming a reality today. If you dont want citizenship option, there are several nations such as Portugal, Canada, United Kingdom that offer permanent residency from day one. These programs are known well as Golden visa programs. For example, if you buy 280K euro buying a property in Portugal or Greece, you get residency status with free movement in the schengen area.