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For Immediate Release
Citizenship By Investment – the investment solutions provider which facilitates foreign citizenship – has called upon high net worth (HNW) individuals to look abroad, in the wake of post-Brexit uncertainty.
As the future relationship between the UK and the European Union remains unclear post-Brexit, Citizenship By Investment has advised HNW individuals in the UK that now is the optimum time to seek second citizenship via investment. The firm has highlighted their own figures, which show that since the referendum in June 2016, interest in obtaining such status has been steadily increasing.
Citizenship By Investment has reported that St Kitts and St Lucia, in particular, are proving very popular for high net worth individuals anxious to preserve free movement rights post-Brexit, with Scandinavian countries being another well-established favourite for second passports.
Citizenship via investment has been obtainable from many Caribbean countries since the 1980s, generally occurring thanks to donations to host governments. However, with increased Brexit uncertainty, the number of applications for citizenship via investment within the EU is soaring. Citizenship By Investment has attributed this trend to international businessmen typically being frequent travellers.
Joseph Frederick, of CBI advisory firm Citizenship By Investment, said: “Business travellers don’t wish to have to deal with the hassle of visa queues and a reduced ability to visit, or reside in, EU countries visa-free. They also wish for their families to enjoy the same benefits, plus of course there are some very attractive tax advantages too. Second citizenship is becoming more than just getting a passport. There are certain advantages towards using second citizenship to create residence in countries where tax burdens would be lower than where you are at the current time.”
As the post-Brexit fall out continues, Citizenship By Investment has underlined that alongside the status and travel benefits that come with owning one or more properties across the world, citizen investment programmes also enable people to continue enjoying the benefits of EU membership which will soon no longer exist in the UK after Brexit.
Residency is usually obtained either by birth, heritage or naturalisation, but citizenship by investment bypasses these options. It’s achieved either by investment in property in the host country, or by making a substantial government contribution.
ENDS
Notes for Editors
• For interviews, photos or more information, contact Joseph Frederick: contact@citizenshipsbyinvestment.com
• To visit the Citizenship By Investment website, go to: https://www.citizenshipsbyinvestment.com
Release ID: 500583