INVESTMENT IMMIGRATION SEEING INCREASED GLOBAL INTEREST AMID PANDEMIC

 

The pandemic has made people realise the significance of a secure future. This sentiment has further accelerated the growing buzz around immigration.

With dual citizenship gaining attention and offering facilities and resources for people to grow, more Indian citizens are also inclined towards the concept. In recent years, a growing number of Indians have forsaken their citizenship in search of more prosperous economic opportunities that help afford them the lifestyle they desire. According to government officials, over 100,000 Indians surrendered their citizenship in the first nine months of 2021, and more than 600,000 renounced their citizenship over the last five years.

Here is how second citizenship is resolving growing concerns around financial stability and a secure future.

Citizenship by Investment (CBI)

Citizenship by Investment (CBI) legally provides persons and in some cases their families with alternative citizenship, in exchange for financial investment in the host country. This is the insurance policy of the 21st century.

At present, 14 countries offer CBI programmes, a large number of them in the Caribbean. The CBI programme in St. Kitts and Nevis is the longest-running and highly prestigious programme having been established in 1984. It is also one of the more reputed, branded as the ‘Platinum Standard in the industry.’ Meanwhile, the CBI programme in Dominica, introduced in 1993, has been ranked no. 1 for five years straight. Not surprisingly, these two Caribbean nations are popular destinations for those considering citizenship by investment, since they offer a high quality of life, a safe environment and economic opportunities.

“Being bound to a single country and its government can limit your freedom. With current global uncertainty, travel restrictions, and crises, investors are concerned about future market volatility and the security of their wealth, assets and lifestyle within their home countries. This uncertainty further fuels the desire among wealthy high net individuals to incorporate second citizenship as part of their portfolio,” says Micha Emmett, CEO of CS Global Partners, the world’s largest government advisory and marketing consultancy specialising in Citizenship by Investment.

Citizenship by investment is rising, attracting more people by the day. Citizenship programmes support countries through unprecedented times by boosting their economies. The COVID-19 crisis might have changed how one defines ‘normal’ but second citizenships are addressing the concerns coming out of the pandemic, one at a time. For instance, COVID has disrupted a range of sectors across verticals and adversely impacted global mobility. However, with the option of citizenship by investment, mobility is gradually being restored by opening up freedom of movement to individuals.

Further, citizenship by investment also boosts safety and security for people and their families. It enables them to seek refuge in markets with a contingency plan, stronger currencies, hedging possible financial risks and alleviating other worries like the danger of political instability. The guarantee of a high standard of life also acts as a safeguard, insuring citizens against any economic shocks.

After 2020, global citizens have realised that they need a contingency plan to secure themselves against financial meltdown, civil unrest, general political uncertainty or, health crises brought on by the global pandemic which has subsequently resulted in the rising demand for first-class health care.

Economic incentives driving immigration trends

For many, the pandemic has been an eye-opener, drilling home the message that health and wealth go hand in hand. Reflecting on the significance of financial stability has inspired us to opt for a portfolio of alternative investments rather than putting all our eggs in one basket. And those who seek second citizenship do so out of an aspiration for a better quality of life, safety, economic stability — and a desire for unrestricted global mobility. The growing worldwide trend towards immigration demonstrates that people want to have access to safe spaces to thrive.

Leading the way to new destinations?

By offering citizenship minus the cumbersome tasks such a process necessitates, CBI is working towards creating a close-knit world where everyone can grow exponentially. Hassle-free and unbiased, Citizenship by Investment is expected to win more supporters in the coming years.