As global demand for Residency and Citizenship-by-Investment programs continues to rise, it is undeniable that high-net-worth individuals (HNWIs) from every corner of the globe are driving this growth. Whether seeking greater global mobility, diversified investments, or expanded educational opportunities, the trend of millionaire migration has persisted and is expected to continue into 2025.
China and India’s growing investment in second citizenships
Highlighting its remarkable rise in wealth creation, Asia is emerging as the new epicentre of global wealth, with growth driven by major economies like India, China, and other South Asian countries. Over the next five years, the ultra-wealthy population in the region is expected to increase sharply, rising from 395,070 to 528,100 HNWIs, according to Statista. This explosive growth has outpaced wealth hubs such as Europe and North America. With the rapid accumulation of wealth, many HNWIs are increasingly prioritizing asset diversification and exploring opportunities beyond their home countries to expand their global footprint.
Reports suggest that a growing number of Chinese millionaires are seeking opportunities to leave the country or secure a contingency plan through foreign identities. Despite China having the world’s second-largest population of millionaires, it faces the highest net outflow of wealthy individuals, with 13,500 high-net-worth individuals (HNWIs) migrating in 2023. This trend continued in 2024 and is expected to increase in the coming year. The main motivations for this trend include the desire for visa-free travel, as China’s passport ranks 62nd globally, and concerns about safety and security. The residency and citizenship programs of Portugal, the Caribbean and Malta remain popular among Chinese HNWIs.
India has surpassed China as the world’s most populous nation but has experienced a much smaller net exodus of high-net-worth individuals (HNWIs). The Henley Private Wealth Migration Report projected that India would lose 4,300 HNWIs in 2024, a fraction of its millionaire population. For many affluent families, the desire for improved lifestyle, business opportunities, and superior educational prospects for their children drives emigration, all aggravated by issues within the country such as the worsening state of air pollution. Many seek residence or citizenship in countries with prestigious universities including the US, and the UK, to ensure access to elite networks and career opportunities that enhance their children’s academic and personal growth.
South Africa and Nigeria driving demand
A surge in applications from African nations reflects a growing desire for increased global mobility and access to markets from the growing entrepreneurial sector. Henley Global’s Africa Wealth Report 2024 reveals that approximately 18,700 high-net-worth individuals (HNWIs) left Africa between 2013 and 2023, primarily relocating to the UK, USA, Australia, and the UAE, with notable numbers also moving to France, Switzerland, Monaco, and Portugal. The continent has seen a significant loss of billionaires, with only 21 remaining in Africa out of 54 globally, raising concerns as billionaires are key drivers of entrepreneurship and job creation.
In 2024, South Africa and Nigeria are among the largest sources of HNWIs in Africa seeking to emigrate, with up to 600 and 300 millionaires expected to leave or secure Plan B. Like their Indian counterparts, African HNWIs are driven by the desire for better lifestyles, cleaner environments, and superior healthcare and education. Caribbean citizenship-by-investment programs, offering visa-free access to over 140 destinations, including the UK and Schengen Area, are increasingly popular among African entrepreneurs seeking stronger global mobility and to diversify their wealth and mitigate risk.
UK and American citizens seeking a new life
Following the United Kingdom’s exit from the European Union, British citizens lost their automatic rights to live and work in EU member states. Additionally, recent changes to the UK’s Non-Dom tax regime, announced by the British government, have further fuelled interest among citizens in exploring alternative solutions. In response, an increasing number of Britons are pursuing second or dual citizenship to regain these privileges and expand their global opportunities.
Americans are also showing increased interest. NBC has noted a surge in demand and inquiries, particularly after the 2024 U.S. elections, as many seek a second passport amid growing uncertainty. The numbers are at a record high, reflecting the uneasy and uncertain sentiment prevailing among many.
Trends within the Middle East and beyond
Economic diversification and geopolitical uncertainties have driven investors from the Middle East, including Lebanon, Syria, and Iran, to seek alternative citizenship. These passport holders seek improved global mobility, better opportunities, and long-term security for their families amid ongoing geopolitical challenges.
Recent reports of Kuwait and Bahrain revoking citizenship as part of broader measures to combat fraud and enhance national security have intensified interest among individuals in establishing a “Plan B” through securing alternative citizenship or residency options. This trend reflects a growing awareness of the importance of safeguarding personal and family stability in an increasingly dynamic global landscape.
Similarly, Russian and Ukrainian investors facing an evolving geopolitical situation, are also pursuing citizenship programs that offer favourable tax regimes and access to new markets.
Implications for the Future of CBI
The preferences of investors are shaping the development of CBI programs globally, and governments are introducing tailored benefits and diversifying investment options to attract a broader range of applicants. At Citizenship Invest, we understand the unique motivations of global investors.
Our expertise ensures you navigate the complexities of the CBI landscape with ease. Contact us today to discover the program that aligns with your goals and secure your place in the future of global mobility.
