What are the triggering events that urge people to emigrate? Previously, people were relocating to improve their financial position or escape war. Now, the number of reasons has grown significantly, yet there are still some classic signals for people to consider getting a second passport.
These signals are often very alarming. Their financial and personal impact could be overwhelming. To preempt them, many individuals are looking for alternatives. Proactive affluent clients usually face two kinds of signals: greater risk with no specific deadlines and greater risk with specific timing.
The former type is associated with an unstable political situation in a country of origin. This currently implies to Hong Kong and Chinese citizens, among others. The latter type implies a known deadline, such as upcoming elections. A good example here is the UK and the US. Both countries have played with the idea of overtaxing the rich.
Waiting for too long would be a mistake for both categories. The cost of failure in the two situations may well outweigh the risks associated with relocation. Devising an all-round plan B that would include relocation, a new lifestyle for yourself and the family as well as financial scenarios, is of utmost importance. A second passport takes time. Depending on the destination country, it may take from one to twelve months or longer to arrange residency or citizenship.
If an immigration programme involves property purchase, applicants should reserve time to make the right choice and sort out the formalities. It’s crucial to initiate the process as early as possible and resort to the right advisors. These advisors should have proper qualifications in immigraton law, local real estate markets and all respective paperwork.
If you’ve made up your mind on getting a second passport, contact Astons for a comprehensive service and guaranteed results.
Astons is a leading global immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including UK, Turkey, Vanuatu, EU & the Caribbean.
For further information or to discuss your personal circumstances in a private consultation, please contact Astons at [email protected] or call +44 207 292 2977