UK election: Brits ponder buying second citizen passports after Tories victory

Following the landslide victory recorded by the Tories in the last United Kingdom’s general election, a good number of citizens are weighing up the possibility of buying the citizenship for a number of other countries.

CheckOut Magazine gathered that individuals can purchase a second passport via Citizenship by Investment Programmes (CIPs), offered in a number of destinations.

Under these schemes, individuals can obtain a second citizenship “extremely quickly” in exchange for a donation or investment, often in real estate, according to Nomad Capitalist, a company which helps clients become “global citizens”.

According to Nuri Katz, President of Apex Capital Partners, an international advisory firm that specialises in CIPs,“For a lot of wealthy people having a second or third passport is important for the ability to travel. For some it’s also a status symbol, like buying a fancy car to show your friends.”

However, he added: “Second citizenship is becoming more than just getting a passport. There are certain advantages towards using second citizenship to create residence in countries where tax burdens would be lower than where you are at the current time.”



Please enter your comment!
Please enter your name here