Wealthy Americans look for new citizenships
Countries across the world are looking for wealthy and prospering citizens who can participate in building economic strength, much like the many American citizens now looking for a new place to call home, according to citizenship planning company, Henley & Partners.
According to the firm, wealthy Americans have been pushed to look for alternative citizenships following the election yesterday of Donald Trump as President Elect of the US. In the hours following the election, the amount of US citizens enquiring about alternative residence or citizenship programs has spiked - a direct parallel to the reaction following the re-election of fellow Republican, George W. Bush in 2004, according to Henley & Partners chief executive, Eric Major.
"We are seeing a comparable trend emerging now amongst wealth Americans who wonder what the next four years will hold," he said.
"There has been a significant increase in enquires... since the news broke."
Major said that governments outside the US would look to welcome wealthy investors who could bring increased skills and financial backing to a new country.
"Besides the substantial initial investment, these individuals are being proven business success, world-class skills and international experience, valuable networks and contracts that can benefit the country," he said.
"Governments are recognising the significant benefits of attracting global citizens who can make an exceptional contribution."
Canada's website for Immigration, Refugees and Citizenship Canada (IRCC) crashed last night due to a high volume of traffic, but the options for relocation are far broader than neighbouring countries and the Investment Migration Program within Canada.
Henley & Partners has pointed to the recent success of citizenship programs in Malta and Cyprus, as well as established partnership immigration opportunities for Americans in the UK, Switzerland, Belgium and Austria.
"Americans now have the world to choose from when it comes to acquiring an alternative residence," Major said.
"The investment amount is reasonable given the privileges granted, and the application process is quite efficient," he said, adding there were a range of residence programs in Europe.
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Hope William-Smith
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