A Growing Number of United Arab Emirates Residents Consider a Second Citizenship
Based on the International Migrant Stock 2019, the UAE ranks #5 globally in the number of immigrants - with nine million people. On top of the list resides the US with 51 million immigrants, Germany and Saudi Arabia with 13 million each, Russia with 12 million and the UK with 10 million.
The UAE has developed a flexible immigration system to attract global talents and investors. It’s currently the most sought-after destination in the Middle East and Africa after Saudi Arabia. That said, six in ten current UAE residents would like to relocate to other countries, according to a recent survey.
The existing Residency and Citizenship by Investment (CIP) programmes provide a relocation opportunity for a qualifying investment which varies widely across destination countries. The UAE has always been a crucial market for second citizenship providers due to a considerable number of HNWIs and a dense international population.
The demand for CIP programmes in the UAE has grown by 20% compared to the previous year. The UAE nationals have quite an array to choose from: Cyprus, Caribbean Islands, Greece, Malta, Portugal, Spain, Turkey, the US and the UK, just to name a few. The mains reasons for relocation named by UAE residents include education, higher living standards and visa-free travel around the world.
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