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US billionaires’ demand for “golden passport” schemes has increased by 337% in three years

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More and more American billionaires are buying “golden passports” that give them citizenship New ZealandPortugal and other “safe” countries, whose sales have grown by 337 percent over the past three years due to growing fears of civil unrest in America.

Henley & Partners, which helps wealthy people seek citizenship around the world, said sales to U.S. citizens have grown by more than 337 percent since 2019. Business Insiderreported.

Latitude Residency & Citizenship and Dasein Advisors, two other citizenship firms, said they have also seen more inquiries from U.S. clients over the past three years than the previous 20 combined.

“We’ve all been through the last two and a half years,” Reaz Jaffrey Insider said, referring to the pandemic and the civil unrest that followed.

“It all just reminded us how vulnerable and weak we are, and people who have the means accept that it will happen again, and they don’t want to be caught unawares.”

Portugal is said to provide the most coveted “golden passports”, as sales of US billionaires for citizenship have grown by more than 377 percent over the past three years.

New Zealand citizenship is popular and also gives gold passports to wealthy investors who have to confirm only 88 days of residence in the country in three years.

New Zealand citizenship is popular and also gives gold passports to wealthy investors who have to confirm only 88 days of residence in the country in three years.

New Zealand citizenship is popular and also gives gold passports to wealthy investors who have to confirm only 88 days of residence in the country in three years.

Austria immediately offers citizenship to those who contribute $ 3.7 million to the state development fund or invest more than $ 12.3 million in business

Austria immediately offers citizenship to those who contribute $ 3.7 million to the state development fund or invest more than $ 12.3 million in business

Austria immediately offers citizenship to those who contribute $ 3.7 million to the state development fund or invest more than $ 12.3 million in business

Malta also grants European Union citizenship to those who give the nation more than $ 1 million after just 1 year of residence

Malta also grants European Union citizenship to those who give the nation more than $ 1 million after just 1 year of residence

Malta also grants European Union citizenship to those who give the nation more than $ 1 million after just 1 year of residence

REQUIREMENTS FOR “GOLDEN PASSPORT”

Countries that offer citizenship to wealthy individuals often encourage them to make large investments in their country and provide proof of residence.

Portugal

Payments: Applicants must make a minimum of $ 200,000 in real estate investments

Place of residence: Applicants must confirm that they have lived in the country for seven days in one year

New Zealand

Payments: Applicants must make a minimum of $ 6.5 million investment in real estate, growth investment or government bonds within three years for investor visa 1 and about $ 2 million over four years for investor visa 2

Residence: Applicants for investor status 1 must prove that they have lived in the country for 88 days in three years, and applicants for investor status 2 must prove that they have lived in the country for 438 days in four years.

Malta

Payments: Applicants must contribute more than $ 740,000 to the National Development Fund, more than $ 860,000 to real estate investments, and more than $ 12,000 to charity. To expedite the process, applicants must contribute more than $ 925,000 to the National Development Fund along with other investments.

Residence: Applicants must prove that they have lived in the country for at least 36 months for the standard process and only 12 months for the accelerated process.

Austria

Payments: Applicants must contribute nearly $ 50,000 to the government, or to expedite the process, applicants must contribute more than $ 3.7 million to the State Development Fund or invest more than $ 12.3 million in business

Place of residence: Applicants must prove that they have lived in the country for at least 10 years, but the accelerated process allows to bypass citizenship

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Dominique Wolek, head of private clients at Henley & Partners, said customers were worried about “four Cs: COVID-19, climate change, cryptocurrency and conflict”.

Volek told the Insider that his firm noticed an increase in customers during the Trump administration, and as soon as the pandemic hit, wealthy Americans were affected by the realities of COVID restrictions in their country.

“There was a very strict closure when you only had an American passport, you couldn’t enter Europe,” Volek said. “I think it made a lot of people with particularly high capital realize that they’re potentially a little more fragile than they thought.”

Former Google CEO Eric Schmidt was one of the wealthy elites looking for a “golden passport” in 2020 when he appliedfor European Citizenship in 2020 through Cyprus ”, a non-existent program.

Along with fears of another pandemic, worsening storms caused by climate change, and worries about economic collapse, billionaires also fear the civil unrest of a divided nation that seems to be only getting worse by the day.

Over the past three years, there have been nationwide protests against pandemic restrictions, the Black Lives Matter movement, abortion restriction laws that have gained new momentum as the Supreme Court is ready to repeal Row Wade, voting rights and critical race theory in schools.

The country also experienced a shock on January 6, 2021, when supporters of former President Donald Trump stormed the Capitol as a result of a deadly riot to try to stop the certification of Joe Biden’s victory.

In 2022, Americans continue to disagree on these issues, as well as Florida’s so-called “Don’t Tell Gays” bill and police reform efforts across the country, where liberal cities that have passed new laws are experiencing a surge in violent crime.

Jaffrey said that the problems that concern America have caused billionaires the only concern – fear of the future of American society.

Among the most popular countries whose citizenship is sought by billionaires is Portugal, which offers a five-year residence permit that allows visa-free travel to 26 countries of the European Union.

Portugal’s program requires a minimum real estate investment of $ 200,000 and averages only seven days a year. After the expiration of the permit, individuals can apply for full-time citizenship, which takes another three years.

New Zealand, another popular country for “golden passports”, gives permanent residence status to those who invest in residential or commercial real estate, as well as high-growth investments and government bonds.

An investor 1 visa to the country requires about $ 6.5 million in investment over three years and requires applicants to stay in the country for 88 days during that period.

Investor Visa 2 requires about $ 2 million in investment over four years and requires applicants to be over 66 years old and stay in the country for 438 days over four years.

Former Google CEO Eric Schmidt was one of the wealthy elites who sought a “golden passport” in 2020 when applying for European citizenship in 2020 through Cyprus “now defunct program

Former Google CEO Eric Schmidt was one of the wealthy elites who sought a “golden passport” in 2020 when applying for European citizenship in 2020 through Cyprus “now defunct program

Former Google CEO Eric Schmidt was one of the wealthy elites who sought a “golden passport” in 2020 when applying for European citizenship in 2020 through Cyprus “now defunct program

Among the most popular countries whose citizenship is sought by billionaires is Portugal, which offers a five-year residence permit that allows visa-free travel to 26 European countries.

Among the most popular countries whose citizenship is sought by billionaires is Portugal, which offers a five-year residence permit that allows visa-free travel to 26 European countries.

Among the most popular countries whose citizenship is sought by billionaires is Portugal, which offers a five-year residence permit that allows visa-free travel to 26 European countries.

Malta offers European citizenship to those who contribute more than $ 740,000 to the National Development Fund, more than $ 860,000 to real estate investments, more than $ 12,000 to charity and provide proof of at least 36 months of residence in the country.

The country also offers an accelerated process that requires only proof of 12 months of residence while the applicant contributes more than $ 925,000 to the National Development Fund.

Austria provides “golden passports” directly through investments, asking foreign bids to invest more than $ 12.3 million in business or to contribute $ 3.7 million to the state development fund.

Alternatively, applicants can contribute nearly $ 50,000 to the state fund for a residence permit and then apply for full citizenship in 10 years.

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