Globalization has been around in our world for a long time. It has linked countries, markets, nationalities, and economies. But in this world of rapid globalization too, the topic of citizenship remains fairly static. Citizenship is not just a concept. It has real-world implications. It defines where you can live and travel. It also decides which economic resources are available to people.
Static citizenship puts many constraints on people. Even the wealthy are not untouched by this problem. Static citizenship continues to threaten access to new opportunities to travel and reside. It hinders any attempts to make oneself secure against any uncertainties, be it economic or political. A citizen’s fate is closely tied with that of their country. Any instability in the country directly affects all its citizens.
Benefits Of Alternative Citizenship And Global Specialist Course
Many people look forward to expanding their options of citizenship and residence, especially those individuals who want insurance against economic and political instabilities. People who want to make a profit from the forever changing global market can also benefit from alternative citizenship taking knowledge from global specialist courses. Having a second passport can bring in a lot of opportunities.
Owning more than one passport gives you flexibility and global power. It is quite useful for international investors. You can own some of the assets in another country. That gives you the surety of having a plan B if things go south in one country. Many successful businessmen and investors consider this a wise investment and insurance policy.
Benefits Of Alternative Citizenship For A Country
Many countries offer an alternative citizenship plan or an alternative residence. This way they can attract wealthy individuals from around the globe. It increases the overall wealth of a nation, while simultaneously decreasing its debt and reliance on international capital markets.
Growth Of Investment Migration
Investment migration programs have increased rapidly in the past years. Thousands of applicants apply for these programs each year. Along with the demand for alternative citizenship, the supply has increased too. Almost 100 countries offer such programs. Many of these countries have launched these programs only after 2000.
Small island nations handing out alternative citizenships gain the most attention. However, most numbers of alternative citizenships are actually provided by large economies. The big players of the game are the countries like the United States, the United Kingdom, and the counties in the European Union.
In 2014 alone, more than 36,000 investor visas were issued around the globe. The United States, Canada, the United Kingdom, Hong Kong, and Australia issued almost 80% of the total investor visas. It depends upon the country to issue either residence-by-investment (like the US) or citizenship-by-investment (like Austria).
In current times, citizenship-by-investment has become a huge industry. It generates almost $3 billion worldwide. Residence-by-investment is estimated to generate more than $10 billion every year. It allows thousands of people to leave behind the constraints of nations. On the other hand, countries providing citizenships get to enjoy the incoming investment of capital and talent. It is becoming more and more mainstream day by day.
Growing Impacts Of Globalism
As globalism continues to bring the world closer, many individuals have started finding the idea of nationality as confining in many terms. It puts a constraint on the liberty to travel, trade, and adopt the culture of another country. Few people now focus on the place of birth to define one’s nationality. More people are leaning towards the idea of being “global citizens”.
Some countries try to resist this idea of a common global identity. They try to force citizenship into a narrow and rigid definition. But the popularity of investment migration continues to rise in the rest of the world. Most of the countries believe that it is actually a profit to give citizenship to someone who can bring connections, capital, and talent into the country. They grant citizenship in exchange for these resources regardless of ethnicity and heritage of the individual.
Investment Migration And Global Mobility Course As An Insurance
Gaining alternative residence or citizenship gives individual global mobility and flexibility. It is a future-proof way of diversifying the assets. They can access the best policies of each country. At the same time, they can avoid the risks and shortcomings of a specific country. In the case of the EU, they can gain access to travel to all the 27 member countries as well.
The major benefits of having additional citizenship and a global mobility course are as follows:
- You and your family will gain the right to travel to a larger number of countries.
- You and your family will have a plan B for security in times of conflict, instability, and unrest in one country.
- You and your family will have access to opportunities on a global scale. These opportunities could be in the field of career, education, culture, and residence.
- You will have the prospects to diversify your global assets.
- You and your family will escape the sovereign risks that come with holding the nationality of a single country.
Responsibility And Benefits For The Governments
In Investment migration, both parties get a lot of benefits. It increases the financial capital and human resource of the host country. Another benefit is that the country gets to reap the results of the talent of the individual seeking residence or citizenship. It leads to the faster economic growth of the country. It can also significantly lower debt and dependence on international capital markets.
The major benefits of offering alternative residence and citizenship programs are as follows:
- It leads to increased economic growth and job creation in the country.
- It also has the potential to increase domestic and local tourism.
- It significantly lowers the debt of the country. It also decreases the country’s dependence on international capital markets.
- It leads to the development of infrastructure in the country.
- It leads to the arrival of new skills and global networks in the country.
- The country witnesses growth in the real estate sector and an expansion of the construction industry.