In recent years, a wave of immigration from the wealthy class of Americans has been sweeping the world. They apply for second, third, or even fourth passports, as well as green cards from other countries, in the hope of gaining more rights and protections. This trend has attracted a lot of attention and has become the focus of media coverage around the world!
Recently, the American media CNBC reported that in 2022 alone, more than 100,000 American millionaires emigrated overseas, a record high. Among them, the number of people applying for a second passport has surged, accounting for about 60% of the total number of immigrants. And the fact that well-known billionaires like Peter Thiel and Eric Schmidt chose to emigrate, has made this trend even more noticeable.
What is driving these wealthy Americans to abandon their homeland and seek overseas status? The answer may be manifold, but the following factors should not be overlooked:
Wealth opportunities under the wave of globalization: With the continuous development of globalization, more and more wealthy Americans are looking to overseas markets for new investment and development opportunities. Multiple citizenship can help them make global asset allocation more convenient, enjoy tax incentives in different countries, and gain greater competitiveness in the international arena.
(Eric Schmidt: The former Google CEO chose to immigrate to Cyprus more for tax planning reasons.) Cyprus is a well-known tax haven that offers a range of tax incentives for high-net-worth individuals. ）
Concerns about the political and economic environment in the United States: In recent years, the United States has become increasingly polarized, social contradictions have intensified, and economic development has also faced many challenges. This worries some wealthy people who want to migrate to avoid potential risks and seek a safer, more stable future for themselves and their families.
(Ron Buckle: An American real estate tycoon and former U.S. presidential candidate.) He chose to immigrate to the Bahamas because of his disappointment with the current state of American politics. He believes that the United States has deviated from the ideals of its founding and has become less and less liberal and undemocratic. ）
The pursuit of high-quality life and educational resources: Many wealthy people choose to immigrate in order to enjoy a higher quality of life and educational resources. For example, Switzerland, with its well-developed healthcare system and high-quality educational resources, is one of the top destinations for many wealthy immigrants.
The above factors that the wealthy in the United States take into account are also applicable to the wealthy in China. Looking at the current investment immigration policy, the second passports suitable for Chinese mainly include: Maltese passport, Portuguese passport, Turkish passport, etc. in Europe.
How to get a Portuguese passport?
At present, the mainstream way of Portuguese immigration is to obtain golden residence status by purchasing funds filed with the government. Since October 2023, when Portugal officially ended its 11-year-old home purchase immigration policy, the popularity of fund immigration has risen rapidly.
- Invest not less than €500,000 in a fund established in Portugal for the acquisition of a portion of non-real estate collective investment enterprises (i.e. non-real estate funds) and require that at least 60% of the fund be invested in commercial companies based in Portugal for a period of at least 5 years.
Applicants who have held a Portuguese Golden Visa for 5 years (14 days of residence every 2 years) and pass the A2 level Portuguese language exam can apply for Portuguese citizenship and receive a passport.
How to get a Maltese passport?
The Malta Distinguished Citizen Passport is a global limited number of up to 1,500 in total (excluding dependents) and a maximum of 400 certificates of naturalisation issued to the main applicant (excluding dependents) each year. According to the policy, applicants need to meet the following three requirements:
- State donation: €600,000 and hold a Malta residence card for at least 3 years. Alternatively, donate €750,000 and hold a Malta residence card for at least 1 year. (Choose one of the two)
- Investment requirements: Purchase a property with a value of at least €700,000 and hold it for at least 5 years. Alternatively, lease a property with an annual rent of at least €16,000 for a minimum of 5 years. (Choose one of the two)
- Public donation: Donate 10,000 euros to local charitable, cultural, sports, scientific, artistic, animal welfare or non-governmental organizations.
How to get a Turkish passport?
Among the global overseas identity planning projects, the Turkish passport program is undoubtedly the most attractive option. It not only has clear legal support, legal compliance, but also has the dual advantages of "low threshold" for passports of small countries and "high value" for passports of large countries.
- Buying a property: Buying a property in Turkey with a value of $400,000 or more, or properties with a total value of $400,000 or more (with a minimum holding period of 3 years)
- Fund Investments: Purchase of $500,000 or its equivalent in a foreign currency in a real estate investment fund or venture capital fund (held for at least 3 years)
- Bank Deposits: Deposit the equivalent of 500,000 USD in a Turkish bank for more than 3 years
Regarding the important role of the second passport for an uncertain future, Jim Rogers, the most far-sighted international investor and also an American, once said: "In the next 5, 10, 15 years, whether it is financial, political, military, etc., there will be many problems and risks, and only one passport will be very dangerous, and even suffer heavy losses." You should have a Plan B, including a second passport, a second place of residence, so as to decentralize your assets and your place of residence. ”
Rogers adds, "Plan B is like safety insurance, you want to never use it, but you always need it. I have more than one passport and I have more children than mine. ”
It can be seen that having a second passport has become an important choice for many far-sighted entrepreneurs and investors. If you have any questions about immigration, going abroad, studying abroad, overseas property purchase, etc., welcome to consult!