But this may be about to change. With Coronavirus shocking the world and issues such as isolation, grounded flights, extreme pressure on healthcare and a stalling economy, the big question is, what is next for passport programmes?
However, with the Coronavirus outbreak, investors are considering other options. To my point, Caribbean Citizenship by Investment programmes was very popular beforehand as investors very rarely live in the Caribbean with their new passport. However, this may be less attractive now when it comes to their families well being, safety and health as finding a new country to live in may be a priority.
On the other hand, Citizenship by Investment programmes in Europe is becoming more popular. Countries such as Malta and Cyprus offer investors membership to the EU, world-class healthcare facilities, plenty of personal freedoms and top educational facilities.
Take Malta, for example. During COVID, Malta has handled the pandemic very well. The Maltese government closed the borders, imposed €3,000 fines for those breaking quarantine rules and closed non-essential businesses. Moreover, they made individuals over the age of 65, pregnant women and individuals with pre-existing conditions place themselves in isolation. Therefore, from the 500,000 population, there have only been 610 cases.
If investors are looking at Citizenship by Investment programmes, they need to consider implications such as COVID when choosing their ideal passport. In our article “How to Pick the Best Citizenship by Investment Program” you can find more details on a step by step plan on how you can choose to narrow down the programme for you. However, the steps include:
Looking back on government action in countries across the world will surely prompt individuals to reconsider their citizenship as this is something that high net worth investors have control over. Therefore, if you’re considering changing your passport and having a Plan-B, contact Papilio Services today. We’re authorised agents in Malta to provide the Malta Citizenship by Investment programme to investors.
The Malta Citizenship by Investment programme requires investors to:
(Requirements for the Malta Citizenship by Investment Programme)
Picking the best programme for you and your family can be a daunting task as it is a big investment in your time and money. However, consulting with a professional team dedicated to your needs is something that goes a long way in making this decision.
If you wish to have a consultation, you can contact our approved IIP agent today to arrange a consultation by completing the form below or call us directly on +356 2258 2000, and we will respond to you within 24 hours.