Investing In Passports
A once-coveted U.S. passport isn't worth much these days, so it's no wonder the ultra-rich are seeking to become, quite literally, "citizens of the world." Advisory and residency firms like Henley & Partners have seen a spike in inquiries in "citizenship-by-investment" programs in low-COVID countries like Cyprus, where the billionaire former CEO of Alphabet Inc., Eric Schmidt, applied for citizenship. Others are coughing up anywhere from $2 million to $10 million to live and work in New Zealand, while Malta will only charge $1.2 million for a married couple's citizenship, so long as they also buy property.
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