14 UGLOBAL IMMIGRATION MAGAZINE
HOW HAS COVID CHANGED THE GLOBAL MIGRATION LANDSCAPE ?
BY UGLOBAL STAFF
What do RCBI professionals around the world say about the impact of COVID on the industry , have they adapted the way they work , what new trends have they seen emerge and what does the future look like for the industry ?
A
once-in-a-century pandemic brought the world to a screeching halt and upended daily life . Freedom of mobility was put on pause as travel restrictions , lockdowns and border shutdowns became the new norm . All industries worldwide were impacted . In the global residency and citizenship by investment industry , the pandemic had a slightly unexpected impact among investors and entrepreneurs . The pandemic brought forward a new perspective on planning and a heightened interest in enhanced global mobility through RCBI programs in a postpandemic world .
When the pandemic ensued worldwide , entire countries experienced the effect of business closures , strain on healthcare systems and resulting economic downturn . For HNWIs , however , safety and security for their families became paramount , including among those already living in advanced countries . The desire to seek residency and / or citizenship in other locales became increasingly attractive since an alternative location via RCBI can provide flexibility and stability to safeguard wealth and business in times of social , political or economic changes — such as what was experienced during a global pandemic .
Investors are increasingly widening their global search and interest is growing . Many HNWIs want to obtain multiple options for domicile worldwide where they and their family , extended family and assets can be based . Before the pandemic , factors such as quality of life , education , healthcare and travel were the main priorities . The pandemic has had the effect of causing many to re-evaluate their priorities , life choices and long-term goals for themselves and their extended families .
The pandemic ’ s impact brought about a shift toward the inclusion of safety and security , access to top notch healthcare , dependable infrastructure , pandemic preparedness and management , good airlinks , better prospects for children and grandchildren as well as retirement considerations for parents and grandparents . Demand for investment migration programs has increased by entrepreneurs and affluent investors that no longer want to be restricted to a single jurisdiction .
We reached out to our previous Top 25 winners and asked them to share their insight about the migration landscape globally and in their country .