How to Maintain Global Mobility with a Portfolio of Residencies
The demand for global mobility has surged in recent years, as affluent individuals and families increasingly seek flexibility in their living arrangements. According to a report by Knight Frank, the global citizenship and residence advisory market is projected to grow by 24% in 2023, with a substantial increase in demand for second citizenship programs and residency options. This trend is driven by a desire for lifestyle diversification, enhanced security, and tax optimization. As of 2022, the number of high-net-worth individuals (HNWIs) globally reached 22 million, representing a significant market for luxury goods and services centered around residency options.
Top 20 Countries for Global Residences
1. **Portugal**
Portugal’s Golden Visa program saw approvals increase by 44% in 2021, with over €4.7 billion in investments since its inception in 2012. This program allows investors to gain residency through real estate purchases, attracting affluent individuals seeking European residence.
2. **Spain**
Spain’s Golden Visa has generated over €6 billion in investments, making it a leading choice for investors. The program allows residency in exchange for property purchases of €500,000 or more, appealing to affluent buyers from around the globe.
3. **United States**
The EB-5 Immigrant Investor Program accounted for $1.4 billion in foreign investments in 2020. This program offers green cards to investors who create jobs in the U.S., making it a popular option for wealthy individuals seeking stability and opportunity.
4. **United Kingdom**
The UK Tier 1 Investor Visa has attracted over £2 billion in investment since its launch. Although the program is now closed, it was a favored route for HNWIs seeking residency and business opportunities in London.
5. **Canada**
Canada’s Start-Up Visa program has seen a steady increase in applications, with over 1,000 visas issued annually. This initiative encourages entrepreneurs to establish businesses in Canada, contributing to a vibrant economic landscape.
6. **Australia**
The Significant Investor Visa requires a minimum investment of AUD 5 million and has attracted a high volume of applicants. In 2021, over 1,200 visas were granted, highlighting Australia’s appeal for affluent migrants.
7. **Malta**
Malta’s Individual Investor Program generated over €1.2 billion in investment in 2021. This program provides citizenship in exchange for significant financial contributions, appealing to investors seeking access to Europe.
8. **New Zealand**
The Investor 1 and Investor 2 visas require investments of NZD 10 million and NZD 3 million, respectively. In 2020, New Zealand issued nearly 1,500 residency permits under these programs, emphasizing its attractive living conditions.
9. **Greece**
The Golden Visa program in Greece has reached over €3 billion in investments since 2013. With a minimum investment of €250,000, it has become one of the most affordable residency options in Europe.
10. **Singapore**
The Global Investor Program requires a minimum investment of SGD 2.5 million in a business or fund. Singapore’s robust economy attracted over 1,000 investors in 2020, solidifying its status as a premier residency destination.
11. **Ireland**
The Immigrant Investor Program has seen significant interest, with over €1 billion in investments since 2012. This program offers residency in exchange for financial contributions, appealing to many affluent individuals.
12. **Dominica**
Dominica’s Citizenship by Investment program requires a minimum contribution of $100,000. It has attracted over 1,000 applicants in 2021, appealing to those seeking fast-track citizenship.
13. **Turkey**
The Turkish Citizenship by Investment program has generated over $1 billion in investments. With a minimum investment of $250,000 in real estate, it has become increasingly popular among investors from the Middle East.
14. **Austria**
Austria offers residency through its investor program, attracting affluent individuals with its high quality of life and access to the EU. The program has seen a steady influx of applicants each year.
15. **Thailand**
The Thailand Elite Residence Program offers long-term residency for a fee starting at THB 500,000. It has attracted over 10,000 members, making Thailand an appealing destination for expatriates.
16. **Cyprus**
Although the Cyprus Investment Program was suspended in 2020, it previously generated €7 billion in investments. Many HNWIs still seek residency options in Cyprus, known for its Mediterranean lifestyle.
17. **Panama**
Panama’s Friendly Nations Visa allows citizens of certain countries to obtain residency with minimal requirements. It has become a popular choice for expatriates, with thousands of applications received annually.
18. **Vanuatu**
The Vanuatu Citizenship by Investment program offers a passport for a minimum investment of $130,000. It has gained popularity among investors seeking a hassle-free option for global mobility.
19. **Saint Kitts and Nevis**
The Citizenship by Investment program has generated over $200 million in revenue annually. With a minimum investment of $150,000, it remains a leading choice for those seeking Caribbean citizenship.
20. **Italy**
Italy’s Investor Visa program has attracted over €1.5 billion in investments since its launch in 2017. Investors can obtain residency by investing in businesses or real estate, appealing to those who appreciate Italian culture and lifestyle.
Insights and Trends
The global mobility landscape is evolving, with increasing numbers of HNWIs seeking diversified residency options to enhance their lifestyle and secure their assets. The market for citizenship and residency-by-investment programs is projected to grow significantly, with a CAGR of 25% expected through 2026. Emerging markets, particularly in Asia and the Caribbean, are becoming more appealing due to lower investment thresholds and streamlined application processes. Additionally, the rise of remote work has made it feasible for affluent individuals to maintain multiple residences, further driving the demand for residency options. As the market continues to expand, countries that offer attractive living conditions, favorable tax policies, and robust legal frameworks will likely see sustained interest from global investors.
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