Why The Rich Aim For Dual Citizenship Through Investment

There has been a marked increase in the uptakes of dual citizenship in the past few years. Economic loss incurred during the pandemic caused many countries to draw up attractive investment policies called citizenship by investment or golden visas for wealthy individuals, which involved eye-catching giveaways, including dual citizenship. Dual citizenship remains the single most attractive feature of these policies and schemes. From the investors’ point of view, dual citizenship comes with a basket of benefits, including stability and security. It is this basket of benefits that will be discussed today.

The idea is to let readers understand why dual citizenship has become a major hit, especially in the post-pandemic era, where investors are scrambling to sign up for these schemes. A brief enumeration of why the rich aim for dual citizenship through investment has been provided below. Let us take a look at them.

1. Security

   I already mentioned security as a major factor in the popularity of these investment schemes. Investors can be subject to drastic changes involving economic policies, geopolitical changes, war, civil unrest, etc. These changes can severely affect investment choices. Even change in the political landscape can be detrimental to business interests; for example, if the new regime is anti-capitalist and has unreasonably strict regulatory controls on businesses. Many business people are known to migrate to countries with business-friendly political landscapes, fewer regulatory controls, and less surveillance to further their personal and business interests.

2. Education and Employment 

   Investors often go for schemes that provide them access to better education and employment facilities. For example, these facilities are sub-standard or relatively inaccessible in the country of origin for various reasons. So, many investors invest in countries with a wealthier lifestyle, world-class education, and employment facilities. Since these schemes usually allow investors to bring along their family members, family security and progress can be ensured as well.

3. Lifestyle

   I did make a cursory mention of lifestyle in the previous point. Many investors aim to move to other countries with better lifestyles or congenial cultures. They wish to place themselves and their families in a more responsive, socially, and culturally enriching setting. A good lifestyle allows people to find a place for themselves among well-mannered and cultured people. Their notion of a good lifestyle may need to be better placed, but that is not a matter of discussion. Some want to lead more affluent lifestyles, so they may plan to invest in wealthier countries.

4. Investment opportunities

   Expectedly, a reasonable investor will not want to put their money into something that won’t reap any returns. Yes, there may be investors who don’t care for the returns as long as they get citizenship, but many are interested in them. European countries such as Malta and Spain receive many applications yearly because they have a very business-friendly regime, allowing investors to exploit their potential to the fullest. A sound investment strategy would be to invest in places where there isn’t saturation and fewer regulatory controls.

5. Accessibility

   Investors know that they must have access to other parts of the world. The more accessible a country, the less complicated for investors to explore investment opportunities. This is a major reason why investors sign up for schemes in those countries that allow visa-free access to multiple countries. European Golden Visas are popular because citizenship in one member country of the European Union will allow access to all the other members of the Union. For this reason, countries that allow visa-free travel to China, Russia, and the United States also receive a handsome number of applications routinely.

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