SECOND CITIZENSHIP – FROM STATUS SYMBOL TO INSURANCE POLICY
WRITTEN BY : KATE BIRCH
The pandemic and geopolitical uncertainty have turned second citizenship from a status symbol into an insurance policy – here ’ s how to do it , and where
If the pandemic has taught us anything , it ’ s that having a Plan B is no longer a luxury , but a lifeline . And for those who can afford it , investing in second citizenship is the ultimate Plan B – an escape route for when life goes pear-shaped .
A form of economic migration , citizenship by investment ( CBI ) has been around for nearly four decades , and today is offered by a number of countries via CBI Programs .
Once considered a luxury , like having a yacht , supercar or original piece of artwork , second citizenship has shifted in light of the three Cs – Covid , Climate Change and the Conflict in Europe – and is increasingly seen as “ not just a ‘ nice to have accessory ’ but a ‘ must-have ’,” declares Nigel Green , founder of independent financial advisory firm deVere Group .
According to Green , applicants value the many benefits of a second passport , including “ visa-free travel , world-class education , optimal healthcare , political and economic stability , reduced tax liabilities , portfolio diversification , and wider business and career opportunities ”.
Not to mention , a new inheritance and identity for families with the ability to pass citizenship down for generations to come . businesschief . com 103