100 UGLOBAL IMMIGRATION MAGAZINE
Retirement planning
HNWIs often seek second passports for retirement planning purposes . Having citizenship in a second ( or even third ) country gives them the prospect of a luxurious lifestyle at a fraction of the cost they might incur in their home country . Many countries ( especially in Southeast Asia and Latin America ) offer a high standard of living , exquisite amenities , and impeccable services at considerably lower prices than other places in the world ; U . S . citizens have now become one of the most common applicants for the Portuguese golden visa in search for a place to retire with a beautiful Mediterranean climate , luxury , and affordable lifestyle .
Living in a new country also provides HNWI retirees the opportunity to immerse themselves in different cultures , explore exotic locations , and engage in unique experiences that might not be readily available in their home country . Ultimately , retiring abroad enables individuals to enjoy a comfortable , culturally enriching , and financially prudent lifestyle in their golden years .
THE APPEAL OF A SECOND PASSPORT IN A CONSTANTLY CHANGING WORLD
The trend of high-net-worth individuals seeking second passports and residencies is not showing signs of slowing down , and reflects a globalized world where mobility , security , education , business opportunities , taxation benefits , and access to essential services are paramount .
As political and economic landscapes continue to evolve , develop , and shift , the appeal of a second passport will
almost certainly persist among HNWIs , driving them to explore options that offer stability , growth , and prosperity for themselves and their families . Understanding these motives provides
valuable insights into the complex decisions made by individuals striving to secure their futures in an ever-changing world .
PREEYA MALIK
Preeya Malik is a qualified immigration lawyer who has obtained her JD in immigration law from University of Toledo , Ohio , and LL . M . in real estate development law from the University of Miami , Florida . Malik has in-depth knowledge of both commercial real estate projects and investment immigration , and has worked in the legal departments of some of the largest developers in the United States . She gained extensive experience in immigration via her roles in various international immigration firms over the past 13 years . She is currently the managing director of Step Global , where she has assisted in successfully raising funds for multi-billion-dollar global projects from investors across the MENA region . Malik has been featured in several publications as a leading name in investment immigration .