The number of high-net-worth-individuals (HNWI) applying for secondary citizenship abroad is on the rise, according to new research
Around 8 000 South African dollar millionaires have left the country over the past 15 years looking for citizenship abroad.
They tend to flock towards countries with warmer climates– with the exception of the UK – like Australia, Cyprus, Mauritius, the US and Canada, according to new research conducted by New World Wealth and LIO Global.
From a global perspective, 125 000 super wealthy individuals relocated to the UK predominantly from eastern European countries, China, India and Africa, while 52 000 people mostly from China, the UK, India and Russia have flocked to the US since 2000.
“Singapore has benefited from location – it is near fast-growing HNWI markets such as China, Indonesia and India, it’s low tax structure and the international nature of the city,” the report states.
Overall, China and India have had the biggest outflows of HNWI with 91 000 and 61 000 wealthy people leaving their respective countries over the past 15 years.
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The following is the opinion of a Burnaby immigration consultant that has chosen to remain anonymous. It may or may not reflect the opinion(s) of RS Immigration Corporation. RS Immigration Corp provides assistance with Canadian immigration applications.
Canada is a wonderful country with a lot to offer. It is no surprise that the super rich from other countries want to live in Canada and eventually obtain Canadian citizenship. Canada has made this type of immigration possible through the Immigrant Investor Venture Capital Pilot Program (IIVCPP). Canada offers other immigration streams that support the rich.
Do you have questions about Canadian immigration applications? How to apply for a Canadian visa? How to apply in Canada? How to get visa to Canada? How to apply sponsorship in Canada? For assistance navigating your Canadian immigration application and increase your chances of success contact RS Immigration Corp (click here)