BackAccording to the latest figures released by Dubai-based immigration firm Bluemina, there has been a sharp rise in the number of UAE expatriates seeking a second citizenship over the past year. Over 67% of expatriates were looking at getting a second passport just within the first six months of 2018.
Having a strong passport in hand can open up several possibilities, including access to greater education and healthcare options globally, which is a boon for investors with families. Little wonder then that in the UAE, the vast majority of high net-worth individuals applying for a second citizenship - over 80% of applicants - consisted of families.
Islands such as St. Kitts & Nevis (offering the world’s oldest and longest-running citizenship by investment program) provide citizenship for a family of four at approximately $200,000, which grants them all of the benefits of living in a Commonwealth country for life. In recent years, the minimum required investment for these countries has also decreased, making their programs all the more attractive.
Benefits of Dual Citizenship
- Global Mobility
- Business
- Tax Optimisation
- Security
- Quality of Life
LuxuryProperty.com CEO Jason Hayes thinks this is an excellent time consider a citizenship by investment option. “As we see the demand for a second passport increase in the region, the host nations of these programs are also relaxing their requirements. Additionally, more such programs are coming about across the world, not just on quiet islands such as Antigua and Cyprus, but also in the United Kingdom and even the United States has such a program.”
