The uncertain political situation is tempting more and more people to acquire additional passports and resident permits. Some destinations are surprising.
As political uncertainty in Europe increases with each day that Russia's war on Ukraine continues, more and more people are inquiring about residency permits and passports. Henley & Partners, a consulting firm that helps people gain residency abroad reveals a shift in countries' popularity.
«Demand has increased by about 80 percent in the past 12 months,» according to Juerg Steffen, CEO of Henley & Partners. The consultancy that also advises governments on their citizenship programs, has now published an index listing countries by popularity, in relation to the passports or residence programs they have in place.
The index allows to search countries according to their reputation, security or taxes.
Reputation, Security and Taxes
The latest rankings show that Caribbean countries are giving way to European countries such as Malta, Austria and Montenegro, which have «attractive investment programs,» the website says. Although Switzerland leads in terms of reputation, quality of life, the downside to its citizenship program is that it takes too long, is too expensive and too complex, the index says.
Currently, about 15 countries actively offer investment citizenship, while investment programs for residency exist in about 50 countries. Overall roughly 100 countries have legislation in place encompassing citizenship. The level of demand these generate often depends on tax levies or the complexity of the procedure.
