14 UGLOBAL IMMIGRATION MAGAZINE
RCBI PROGRAMS CONTINUE TO APPEAL TO WEALTHY INVESTORS
BY PREEYA MALIK
When choosing a new residency or second passport , high-net-worth individuals seek flexibility , security , global mobility , and new opportunities for their families and businesses .
It has been approximately 16 years since the investment immigration industry came into greater focus . Over the last decade , we have seen an influx of new programs , new country participation , and interest from high-net-worth individuals ( HNWI ) in these various citizenship and residency by investment programs .
As the global climate changes , politically and economically , more HNWIs are looking beyond their home countries for options that could afford them flexibility , access , and security . So long as these options remain available , the new trend of “ collecting ” passports and residencies for various reasons will continue to rise .
TRAVEL AND EU ACCESS : KEY DRIVERS TO OBTAIN A SECOND RESIDENCY OR PASSPORT
One of the most important reasons for HNWIs to consider investment immigration options is the ease of visa-free travel and access to various countries for leisure or business .
However , the commonality seems to be that many wealthy individuals would like to keep their own existing passports for business , tax , and investment reasons – giving up their passports will cause difficulties in maintaining various business interests in their home countries . As a result , many investors are moving toward obtaining only a second residency rather than a second passport . This may allow them access the Schengen countries and to do business in the European Union ( EU ), without having to give up their original nationality . For this reason , popular programs have been Malta and Greece residency by investment , programs , and the Portugal Golden Visa program .
The Portugal and Greece Golden Visa programs have been popular due to their affordability and the fact that a minimum number of days in the country is not required to maintain residency . Because HNWIS are doing these programs because of flexibility , they also don ’ t want to be constrained by the need to have physical maintenance requirements on their residency status . Although these programs may also lead to a passport , individuals may wish to maintain residency and forego ever obtaining the passport simply .
“ More HNWIs are looking beyond their home countries for options that could afford them flexibility , access , and security .
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