34% Of HNWI Globally Hold Alternative Citizenship According To Knight Frank’s Report

According to a 2018 Wealth Report almost 34% of high-income individuals – those with US$30 mln in assets – have already obtained an alternative citizenship elsewhere. Another half is currently considering this option and exploring the possibilities available on the market. As the number of multi-millionaires grows worldwide, this will result in the increased amount of applications processed for alternative citizenship too.

Tokyo, London, Mexico city, Sao Paolo, London, New Delhi, Beijing, New York are major cities catering most global millionaires.

There are about 24% Asians, 28% Africans, 41% Latin Americans and 39% high income individual from the Middle East are enjoying the benefits of second passport already. In-fact this number is as much as 58% for high net worth Russians and CIS countries citizens with assets of more than US$30 mln.

Current trend shows that most of the HNWI from Africa are looking into investment immigration options offered by Australia, US, UK, and South Africa while Russian wealthy elite is interested in choosing Monaco, Italy, Switzerland and the United Kingdom and Cyprus to obtain alternative citizenship or residency.

Cyprus is the only country on the list offering immigration program allowing high net worth individuals obtain citizenship through a fast-rack investment scheme. Other countries are only offering investment based permanent residency programs and would be of an interest to those willing to relocate themselves to a safer and more economically-friendly international environment.

Explore more opportunities for obtaining alternative citizenship and passport or residency by investment in the Caribbean, Europe and Asia-Pacific with Grande Property team of international experts by scheduling an individual consultation at your convenience via Skype, phone or by visiting one of our offices in US, Hong Kong and India.