Data from Knight Frank’s Attitudes Survey reveals the share of Ultra High Net Worth Individuals holding a second passport – those with a net worth greater than US$ 30 million – has reached 36%, up from 34% in August last year.
A further 29% are considering
Overall, Knight Frank found that there are some 198,000 UHNWIs in the world in 2019 – some 86% of whom are in Europe, North America, or Asia – a number they expect to rise to nearly 250,000 over the next five years.
In other words, not only is the share of super-wealthy interested in second citizenships growing; their absolute number is growing at an equally prodigious clip.
Read our analysis of last year’s figures here: Third of UHNWIs Hold Second Passport, Another Third Plan to Buy One, Wealth Report Finds
“Increasingly,” says the report, “governments around the world are targeting globally mobile wealth, albeit for a variety of different reasons. […] Enabling this is
While the rate of UHNWIs holding more than one passport has increased across the board (rates are up in all regions save for Australasia and Russia CIS), nowhere is the trend more pronounced than in Latin-America, where the share of ultra-wealthy who are dual citizens has catapulted from 41% to 71%.
The high rate of dual citizenship among Lat-Am’s super-rich is in large part attributable to the ease with which many of them can obtain Spanish citizenship by descent.
Indeed, the data shows that another 54% of Latin UHNWIs are considering
Somewhat perplexing is the fall in
Possibly explaining this reduction is that there’s also been a significant fall int he
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.