CS Global Partners, the world’s leading government marketing and advisory firm, has released its long-awaited World Citizenship Report (WCR). The WCR presents the World Citizenship Index (WCI), a distinctive tool that compares world citizenship from the perspective of a global citizen. The index methodology assesses 187 jurisdictions across five key motivations that define citizenship for the global citizen.
Official statistics have been used to evaluate a score for the defined motivators of Safety and Security, Quality of Life, Economic Opportunity, Global Mobility and Financial Freedom. The WCR, backed by research from leading data banks, interviews and a survey of more than 500 wealthy investors, goes beyond the strength of passports and emphasizes the fundamental factors that go into choosing a second nationality. adequate.
Micha Emmett, CEO of CS Global Partners, said the WCR sets itself apart from other industry reports because it “looks at which countries offer the most benefits to the world’s citizens, especially in a post-COVID world where those with the means seek constantly greater opportunities and better protection. ”
“We wanted to capture what really concerns and affects a global citizen,” he said. “When there are options for obtaining second or third citizenship, the first question HNWIs ask is ‘where is the next place to partner?’
“High-net-worth individuals must consider a myriad of factors when deciding something as monumental as where to obtain second citizenship and build a second residence. While passport strength is of course an important component, it is also one of those that are subject to major changes, as evidenced by travel restrictions related to the pandemic, “he added.
The results show that Switzerland is the country with the highest score, with 88.1, followed by Denmark (88.0) in second place and Finland, Norway and Sweden tied for third place (86.9). Notably, global superpowers like the United States are not in the top ten, symbolizing a significant shift in what these economic giants can tangibly offer to the global elite. Comparatively, Asia emerged as a center of economic prosperity due to its business advantages, notably Japan, which ranked sixth, and Singapore, which ranked seventh.
In addition to analyzing country performance, the WCR examines the ways in which HNWIs protect and grow their wealth. This includes applying an effective financial plan that takes into account inheritance and wealth taxes and investing in emerging valuable assets such as cryptocurrencies.
The report concludes that citizenship by investment (CBI) is also an effective tool for the world’s wealthiest, and has become an exacerbated trend during the pandemic. The IWC offers an alternative and time-effective solution for those who do not have a marriage, descent or naturalization link with other countries. Ultimately, it allows applicants to obtain a second citizenship, often within three to four months, without any prior ties to the nation, provided they can pass a multi-tiered investigation procedure.
According to the report, entrepreneurs and business people actively sought investments that would stand the test of time during the period of lockdowns. Although it is not possible to predict the future, staying on top of global trends has enabled many HNWIs and global citizens to identify opportunities in places they may not have considered before. The WCR aims to shed light on these trends and simplify the second citizenship process by collecting the relevant data that most concern wealthy individuals and their families.