It’s time to redefine “the world stage”.
Global movement patterns are undergoing significant transformations, shaped by the combined influences of an evolving multipolar world and growing international nationalism. As numerous countries rise to prominence on the global stage, there’s an emerging trend towards enhanced national regulations and growing trade defenses. These concurrent shifts hold considerable consequences for cross-border human relationships and trade.
The Intersection of New Global Powers
The evolution towards a world where multiple powerful nations coexist, shifting away from a single dominant force, is becoming more evident. This is exemplified by the rising prominence of nations such as India and China, both taking active roles on international stages and shaping global dialogues. These geopolitical transitions aren’t just theatrical adjustments; they have a concrete impact on the foundation of alliance formations, the movement of capital, and the exchange of resources.
Parallel to this, there’s a discernible movement towards nationalism—reflecting a global pullback from decades of extensive international integration. This move manifests in heightened trade defenses, stricter immigration policies, and protectionist tendencies. McKinsey’s 2018 report, “The Global Mobility Landscape: Challenges and Opportunities,” offers insights into increasing immigration controls and the associated logistical challenges of international movement.
While these changes inevitably bring obstacles, they also pave the way for unexpected opportunities for those ready to adjust.
G7 and BRICS: Distinct Drivers of Global Evolution
In the context of international movement, both the G7 and the BRICS countries are taking on more central positions, each shaping global stories through distinct perspectives.
The G7, a consortium of the globe’s traditionally dominant economies, including Canada, France, Germany, Italy, Japan, and the United Kingdom, has been the bastion of post-war economic and innovative prowess. Beyond their economic clout, these nations epitomize a synthesis of stability, prosperity, and global integration. They command a significant portion of the world’s wealth and academic institutions, further bolstered by advanced healthcare infrastructures and the global reach of their passports.
Contrastingly, the BRICS countries exemplify the vigor of economies on the rise. Comprising Brazil, Russia, India, China, and South Africa, these BRICS nations, particularly India and China, are drawing increasing international investments and talent as they bolster their economies. Their academic institutions are increasingly securing positions in global rankings, reflecting their expanding influence. The diverse cultural landscapes and burgeoning middle-class sectors of BRICS nations are becoming magnets for global enterprises and professionals.
The UAE’s strategic engagement with both G7 and BRICS nations is a case in point. The United Arab Emirates (UAE) has progressively aligned its interests with the BRICS nations, aiming to bolster economic connections and deepen ties with major trading counterparts. Notably, it received a formal nod to join the consortium during the 15th BRICS Summit in Johannesburg this year.
Concurrently, the UAE navigates its enduring alliances and responsibilities with the G7, positioning itself as a vital conduit between these two powerful global blocs. With its attractive economic offerings, elevated living standards, and diverse cultural environment, the UAE stands out as a focal point in the realm of global movement.
Collectively, the G7 and BRICS epitomize the dual facets of today’s world structure: The enduring dominance of matured economies contrasted with the budding promise of emerging powerhouses.
Charting New Horizons: Sovereign Diversification and Alternate Residency
In today’s fluid geopolitical landscape, astute business leaders recognize the value of diversification. Considering residencies in both G7 and BRICS countries becomes more than a status symbol; it emerges as a tactical advantage. This diversification across borders enables access to global business opportunities, healthcare, education, lifestyles, and safety.
As my colleague Hemant Tucker recently remarked, “There is growing recognition among our global client base of business leaders that today’s climate requires a rethink in managing risk in all its forms. This requires broadening our appreciation of the factors influencing someone’s quality of life and long-term objectives to include physical aspects in the wealth planning process. By diversifying across sovereigns, we can fortify ourselves against risks and embrace the opportunities that come with change.”
For the opportunistic, clear avenues exist to acquire alternative residencies and truly become a global citizen, from the UAE’s enticing Golden Visa to Singapore’s Global Investor Program. Additionally, European programs from nations like Span, Greece, and Malta remain attractive, offering investment points as low as EUR 150,000, a processing timeline of only 4 to 6 months, and strategic global positioning.
In a world defined by relentless change and constant flux, adaptability emerges not as a mere luxury or an option but as an absolute imperative. As the landscape of global interactions changes and the lines between borders fade, those poised to swiftly pivot and strategically position themselves within this ever-evolving global arena will truly stand out and flourish.
Nirbhay Handa is the Founder and Chief Executive Officer of Farro & Co.
At Farro & Co, Nirbhay is driven to confront the multi-dimensional complexities of international mobility. Farro & Co’s purpose extends beyond the transitory elements of immigration, aiming to cultivate sustained advantages for its clients. This is achieved by offering expert counsel on wealth, and estate planning strategies, facilitated through Farro Capital.
Nirbhay previously held key positions at Henley & Partners. He served as the Group Head of Business Development and Asia Head of Private Clients, overseeing the performance of the Asia Pacific region across 14 offices. His notable milestones included being recognized as the Youngest Managing Director in 2020 and the Youngest Group Head in 2021.
At Henley & Partners, he led 40% of the company’s total fee earning headcount and was responsible for reengineering business development strategy globally, spanning regions from South Africa to Israel and from the USA to Hong Kong.
Nirbhay is a respected government advisor and a forerunner in the investment migration industry. He is regularly cited by media outlets such as Bloomberg, Forbes, CNBC, The Peak Singapore, and The Economic Times for his expertise and thought leadership within the wealth management space.
Nirbhay graduated from the University of Nottingham on an academic scholarship and received his executive education at London School of Economics and the University of Oxford.