- The wealthy are building “passport portfolios” — collections of second, and even third or fourth, citizenships — in case they need to flee their home country.
- Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.
- The top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy, according to Henley & Partners.
- Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.
- The wealthy are building these “passport portfolios” — collections of second, and even third or fourth, citizenships — in case they need to flee their home country. Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.
- “The U.S. is still a great country, it’s still an amazing passport,” said Dominic Volek, group head of private clients at Henley & Partners. […]
The fact that the wealthy can obtain multiple passports speaks to the ultimate corruption in the system. I ask, can the commoner do the same? With the billions we have flushed down the so called “security industry”, one would think that individuals holding multiple passports would be a security flag of the highest level. The fact that it does not do so makes one of three things true: 1) The Security State is incompetent, or 2) the Security State is in league with the wealthy against the commoner or 3) both.