Americans are freaking out at the way state governments have responded to the Wuhan virus.
Tough lockdowns, mask mandates, and curfews have stifled commerce in a number of states. Millions of Americans have been economically displaced and are becoming anxious about their economic prospects. Even worse, leftist politicians have used this crisis to promote jailbreak schemes that have allowed for hardened criminals to run loose. As a result, many people are beginning to acquire second passports, citizenships, and overseas residencies to play it safe in such uncertain times.
Tyler Durden of ZeroHedge recently covered a report from deVere Group, one of the largest independent financial advisory companies in the world, which revealed that the lockdowns and travel restrictions have led to a rising demand for second passports by over 50 percent during the last year.
“The majority of enquiries are from high–net-worth individuals from the U.S., India, South Africa, Russia, the Middle East and East Asia who are seeking alternative options in Europe and the Commonwealth,” a December release from the group noted.
According to deVere Group CEO Nigel Green, “Previously, a second passport, citizenship or residency were regarded by many as the ultimate luxury item; a status symbol like yachts, supercars and original artwork. While this still remains the case, there’s also been a shift due to the pandemic.”
Now, second citizenship or overseas residency are increasingly becoming not just a ‘nice to have accessory’ but a ‘must have.’ Whether it be for personal reasons, such as to remain with loved ones overseas or be able to visit them, or for business reasons, a growing number of people are seeking ways to secure their freedom of movement as they have faced travel restrictions which are, typically, based on citizenship.
Green is of the opinion that this upswing in travel due to political uncertainty makes the case for people to become “global citizens”:
The pandemic has served as a major catalyst for demand which skyrocketed this year. It has focused minds to secure that second passport or elite residency. However, the appeal for is broader than just the global Covid-19 crisis. Increasingly people prefer the concept of being a global citizen, rather than being solely tied to the country of their birth. They too value the many associated benefits including visa-free travel, world-class education, optimal healthcare, political and economic stability, reduced tax liabilities and wider business and career opportunities.
James Minns, deVere’s Head of Residency & Citizenship, noted that a number of countries such as Portugal have residency programs that require a property investment of approximately 250,000 Euros and are receptive to individuals with sufficient financial resources who can make investments.
Minns commented: More and more nations are running citizenship-by-investment programs, in which applicants invest an amount of money in a sponsoring country typically in high-end, new-build real estate developments in exchange for permanent residency, citizenship, or both. These programmes, which high-net-worth individuals regard as invaluable insurance, are typically based on property investments that start from 250,000 EUR.
Nigel Green finished off by stating that:
These highly unusual times have fuelled the surge in demand for second passports. The pandemic has brought into sharp focus what really matters to people: family, freedom and security.
deVere Group is one of the world’s premier independent advisors whose services are directed to affluent clients across the world. Its network is made up of more than 70 offices across the world, with over 80,000 clients and $12 billion under advisement.
Although liberty conservatives should specifically focus on restoring freedom in America, it would not hurt them to diversify their assets and acquire a second passport if things got really out of hand. Self-preservation is key and we’re heading into a period that will be marked by socio-economic, political, and cultural instability.
It never hurts to be prepared.