Blog · 2024-04-15

Why the wealthy want a second citizenship in 2025

The wealthy are increasingly acquiring a second citizenship - and sometimes a third or even a fourth. Why?

1. They understand perfectly well that any instability back home could cost them everything. A second citizenship reduces financial risk and provides a fallback - a place they can always relocate to.
2. Affluent people grasp the value of diversifying where they invest. There is little sense in living in a single country when life can be made far more varied. An alternative passport also eases travel to states that have imposed sanctions on Russia.
3. Another driver is business travel: senior executives want to keep a lower profile and feel more secure. A second passport also smooths cross-border transfers - especially under sanctions - and deals within the new country.
4. Some prefer the option of retiring to a backup residence closer to the ocean and a milder climate.
5. Many now obtain a second passport for political reasons. We live in an age of uncertainty, so it pays to have not only a plan B, but a plan C and a plan D as well.

The most popular destinations for a second passport are Portugal, Malta, Paraguay, Greece, Germany and Italy. In these countries, wealthy émigrés most often turn to a Golden Visa programme, which grants residency in exchange for investment in funds, real estate or the local economy.

Paraguay: one of the most rewarding citizenships by investment

Strategically located and open to the world, Paraguay is a genuine land of opportunity. Citizenship by investment gives foreigners and their families the rare chance to obtain a passport in six to twelve months and enjoy all of its advantages: visa-free travel to 146 countries, including the Schengen Area, the United Kingdom and Singapore; eligibility for the US E-2 visa; tax optimisation at a 10% rate; and life in a country with a high standard of living and a favourable climate.

FAQ