{"id":2219933,"date":"2024-04-13T04:40:02","date_gmt":"2024-04-13T08:40:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rich-americans-are-preparing-for-possible-instability-by-getting-second-passports\/"},"modified":"2024-04-13T04:43:09","modified_gmt":"2024-04-13T08:43:09","slug":"rich-americans-are-preparing-for-possible-instability-by-getting-second-passports","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rich-americans-are-preparing-for-possible-instability-by-getting-second-passports\/","title":{"rendered":"Wealthy individuals in the United States are obtaining second passports in anticipation of potential uncertainties"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frich-americans-are-preparing-for-possible-instability-by-getting-second-passports%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2219933&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Henley &#038;\u2062 Partners, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/halyna-hutchins-husband-hires-law-firm-specializing-in-wrongful-death-suits\/\" title=\"Halyna Hutchins' Husband Hires Law Firm Specializing in Wrongful Death Suits\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/flashback-former-ag-barr-initiated-spying-program-on-americans-back-in-1992\/\" title=\"FLASHBACK: Former AG Barr Initiated Spying Program on Americans Back in 1992\">law firm<\/a> specializing<\/a> in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/glenn-beck-writes-letter-to-prime-minister-begging-for-citizenship-says-its-his-lifes-mission\/\" title=\"Glenn Beck pleads with Prime Minister for citizenship, calling it his lifelong mission.\">dual\u200d citizenship<\/a> for the wealthy,\u200c reports \u200da growing trend of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/emails-hunter-biden-is-true-sheikh-of-washington\/\" title=\"Emails: Hunter Biden Is \u2018True Sheikh of Washington\u2019\">clients seeking<\/a> second citizenship due to economic uncertainties.\u200b Executive Dominic Volek highlighted the benefits of diversification \u2063for wealthy individuals and emphasized \u2064the appeal\u2063 of U.S. citizenship. Americans are increasingly\u200c pursuing dual citizenship, reflecting a desire to hedge against instability.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>Henley &#038; Partners, a law firm that specializes in garnering dual <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/citizenship\/\" target=\"_blank\" rel=\"noopener\" title=\"citizenship\">citizenship<\/a> for the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/wealth\/\" target=\"_blank\" rel=\"noopener\" title=\"wealthy\">wealthy<\/a>, is seeing a rise in clients applying for a second citizenship in anticipation of \u201cvolatility and uncertainty.\u201d<\/p>\n<p>\u201cThe U.S. is still a great country, it\u2019s still an amazing <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/passports\/\" target=\"_blank\" rel=\"noopener\" title=\"passport\">passport<\/a>,\u201d Henley &#038; Partners executive Dominic Volek <a href=\"https:\/\/www.cnbc.com\/2024\/04\/10\/rich-americans-get-second-passports-citing-risk-of-instability.html\" target=\"_blank\" rel=\"noopener\" title=\"reportedly\">reportedly<\/a> said Tuesday, adding, \u201cBut if I\u2019m wealthy, I would like to hedge against levels of volatility and uncertainty.\u201d<\/p>\n<p>Volek continued, \u201cThe idea of diversification is well understood by wealthy individuals around what they invest. It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.\u201d<\/p>\n<p>Americans are now outnumbering other nationalities in acquiring a dual citizenship, according to the law firm.<\/p>\n<p>While the \u201cexit tax\u201d of renouncing citizenship can be costly, many wealthy U.S. citizens are adding visas and dual citizenship to help their financial positioning and to make business travel safer. Some of the rich passport seekers are worried about hostage-taking or \u201chigh-risk countries\u201d where financial transfers could be navigated easier with a second passport.<\/p>\n<p>The places where the rich are adding passports are Portugal, Malta, Greece and Italy.<\/p>\n<p>\u201cWith Malta you become a European citizen, with complete settlement rights across Europe,\u201d Volek explained. \u201cSo you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.\u201d<\/p>\n<p>The countries with the <a href=\"https:\/\/finance.yahoo.com\/news\/15-easiest-countries-second-passport-202008486.html\" target=\"_blank\" rel=\"noopener\" title=\"easiest dual citizenship requirements\">easiest dual citizenship requirements<\/a> include Portugal, Malta, Dominica, Spain, Mexico, Grenada, Antigua and Barbuda, Cyprus, Canada, Ireland, Vanuatu, St. Lucia, St. Kitts and Nevis, Italy, New Zealand.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Some of the rich are also seeking retirement options abroad as the growth of remote working during the pandemic made it easier to virtually work from anywhere in the world.<\/p>\n<p>CNBC <a href=\"https:\/\/www.cnbc.com\/2024\/04\/10\/rich-americans-get-second-passports-citing-risk-of-instability.html\" target=\"_blank\" rel=\"noopener\" title=\"reports\">reports<\/a> that migration of millionaires has hit a new high in the year of 2024. In comparison, 51,000 millionaires moved in 2013 while an estimated 128,000 millionaires are projected to move to another country in 2024. However, the United States still remains the destination for the rich more than any other country. China has seen the biggest loss in millionaires leaving their country.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Henley &amp; Partners, a law firm aiding the affluent in acquiring dual citizenship, notes a surge in clients seeking second citizenship due to anticipated &#8220;volatility and uncertainty.&#8221; Dominic Volek, an executive at the firm, highlighted the attractiveness of U.S. citizenship while acknowledging the growing interest in securing alternative options<\/p>\n","protected":false},"author":2678,"featured_media":2219934,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/iStock-523476302-1024x682.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2219933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/iStock-523476302-1024x682.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2678"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2219933"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2219934"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2219933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2219933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2219933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}