Immigration.ca Podcast - Investment Immigration Options for Ultra High Net Worth Individuals
A UHNW Luxury Real Estate Report indicates that Ultra-High-Net-Worth (UHNW) individuals, generally defined as those with assets in excess of $30 million, are increasingly relying on global investment immigration programs to obtain a second passport.
Among the reasons for seeking second citizenship include relocating to a nation offering greater security and stability, reducing personal and corporate tax liabilities, visa free travel privileges, access to a jurisdiction providing improved standards of living, access to skilled labour and strong education options for children.
Immigrants can choose between two types of programs— Immigrant investor and Citizenship by Investment programs. The former offers fast-track permanent residence with the option of applying for citizenship in due course. The latter offers direct citizenship without any waiting period.
The most preferred investment asset class is real estate, which not just makes the applicant eligible for the second passport but also serves as a place of residence in a foreign country and an investment yielding attractive returns over the long run. Minimum requirement vary from $200,000 in Dominica to $700,000 in Cyprus. Other eligible asset classes include investment in local enterprises, creation of jobs, renovation of properties, charitable donations, and even contributions to cultural or artistic projects.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.