Second Passports on Demand After US Polls
The number of people looking to get a second passport has increased after Donald Trump won the race for the White House, sources have said.
Henley & Partners, which has an office in Dubai that also helps wealthy individuals acquire alternative citizenships, have been swamped with queries from potential customers, particularly those from the United States, since Trump’s victory was announced. Most of the queries are reportedly coming from residents looking to move to Canada.
“In the hours since Donald Trump was confirmed as the next president, there has been a sharp increase in the number of Americans enquiring about alternative residence and citizenship programmes,” said Henley & Partners in a statement sent to Gulf News.
“Such spikes happen when citizens become uncertain about the future of their country. They seek safer options for their families.”
The Canadian immigration website was earlier reported to have crashed in the wake of Trump’s victory, fuelling speculations that there’s been an upsurge of Americans looking to emigrate to the country.
The Republican’s victory has been met with street protests organized by residents who criticise Trump’s immigration agenda and expressed concerns over his stance on women’s rights, healthcare and gun control, among others.
“We are seeing a comparable trend now among wealthy Americans who wonder what the next four years will hold. There has been a significant increase in enquiries to [our] website since the news broke,” said Eric Major, chief executive officer of H&P.
Trump’s victory has been likened to “unsettling world events” that impact residents, such as the attempted Turkish coup, French terror attacks and Brexit. “Recent unsettling world event are having a significant impact on interest by wealthy individuals and families in alternative residence and citizenship,” said H&P.
Major said they saw a similar spike in interest among Americans looking for a second passport or residence when George W. Bush was running for re-election in 2004.
Citizenship by investment programmes allow wealthy individuals to acquire a second passport or residency in exchange for an investment. The investment amount varies from one country to another.
Among those popular are Malta and Cyprus, both offering immigrants the right to live and work in 32 European countries including the 28 European Union member states, Switzerland, Norway, Iceland and Luxembourg. There are also other residence programmes in the United Kingdom, Switzerland, Belgium and Austria.
“The Investment Migration Programme in Canada remains popular among Americans,” said Major.
Posted: November 2016