Second Passport: A Status Symbol for Business Leaders
Gone are the days when wealthy people used to collect antique items and stamps. These days High Net Worth Individuals (HNWI) collect second passports. With arousing political instability, it has indeed become a necessity for investors and business people to secure their mobility and global presence. With the help of CBI (Citizenship-by-Investment) programs, wealthy individuals can attain dual citizenship in a country by making minimal investments in its specified sectors. Previously, people could typically get Permanent Residency (PR) of a country by working there for a prolonged period (usually three to five years). But with an increase in the popularity of CBI schemes, economic migration has been easier and quicker to those countries whose economy relies on foreign investments through their citizenship programs. For business people, the most significant benefit of CBI schemes is that they can get citizenship of their desired destination within months and transfer wealth...