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Latitude Residency & Citizenship and Dasein Advisors, two other citizenship firms, said they too have seen more inquiries from American clients over the past three years than in the previous 20 combined.
Other issues said to have seen the demand for foreign passports spike include the likely end of Roe V Wade, which legalized abortion across the US, Florida's Parental Rights in Education Bill - better known as the Don't Say Gay Bill, as well as fears for the future of America's democracy following the Black Lives Matter and January 6 riots.
Henley wrote in its report: 'UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world's wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022'.
The most popular destination for these wealthy expats is expected to be the United Arab Emirates (UAE) - who have taken the millionaire's playground title from traditional destinations like the US and UK.
For example if you're North American and need a Visa to, let's say, Portugal, then you have to go to the Portuguese Embassy in the United States of America to require a visa and other significant information regarding the stay in Portugal.
'In the very strict lockdowns there was a point where if you only had an American passport, you could not enter Europe,' Volek said. 'I think that made a lot of particularly ultra-high net worth individuals realize that they're potentially a little bit more fragile than they thought.'
'It is currently one of the world's fastest-growing markets, with US dollar wealth growth of 87% between 2011 and 2021. Its citizenship by naturalisation process has brought substantial new wealth to the island nation and has been credited with propelling Malta's strong growth in multiple sectors including financial services, IT and real estate.'
Other issues said to have seen the demand for foreign passports spike include the likely end of Roe V Wade, which legalized abortion across the US, Florida's Parental Rights in Education Bill - better known as the Don't Say Gay Bill, as well as fears for the future of America's democracy following the Black Lives Matter and January 6 riots.
Latitude Residency & Citizenship and Dasein Advisors, two other citizenship firms, said they too have seen more inquiries from American clients over the past three years than in the previous 20 combined.
Soaring numbers of wealthy Americans are buying 'golden passports' that grant them citizenship to New Zealand, Portugal and other 'safe' countries over fears of impending civil war in their home country.
Countries involved - including Portugal, Malta, New Zealand and Austria offer citizenship or visas that lead to citizenship in return for heavy investment in the host national, and a visit of just a few days there each year.
Henley & Partners, a firm that helps the wealthy shop around for citizenship across the globe, said sales to American nationals worth between $50 million and $20 billion have shot up more than 337 percent since 2019, Business Insider reported.
Malta offers EU citizenship to those who contribute more than $740,000 to the national development fund, more than $860,000 into real estate investment, more than $12,000 to charity, and provide proof of at least 36 months of residency in the country.
Andrew Amoils, the head of research at New World Wealth, which compiled the data, said: 'Affluent individuals have been emigrating from Russia in steadily rising numbers every year over the past decade, an early warning sign of the current problems the country is facing.
Latitude Residency & Citizenship and Dasein Advisors, two other citizenship firms, said they too have seen more inquiries from American clients over the past three years than in the previous 20 combined.
Other issues said to have seen the demand for foreign passports spike include the likely end of Roe V Wade, which legalized abortion across the US, Florida's Parental Rights in Education Bill - better known as the Don't Say Gay Bill, as well as fears for the future of America's democracy following the Black Lives Matter and January 6 riots.
Henley wrote in its report: 'UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world's wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022'.
The most popular destination for these wealthy expats is expected to be the United Arab Emirates (UAE) - who have taken the millionaire's playground title from traditional destinations like the US and UK.
For example if you're North American and need a Visa to, let's say, Portugal, then you have to go to the Portuguese Embassy in the United States of America to require a visa and other significant information regarding the stay in Portugal.
'In the very strict lockdowns there was a point where if you only had an American passport, you could not enter Europe,' Volek said. 'I think that made a lot of particularly ultra-high net worth individuals realize that they're potentially a little bit more fragile than they thought.'
'It is currently one of the world's fastest-growing markets, with US dollar wealth growth of 87% between 2011 and 2021. Its citizenship by naturalisation process has brought substantial new wealth to the island nation and has been credited with propelling Malta's strong growth in multiple sectors including financial services, IT and real estate.'
Other issues said to have seen the demand for foreign passports spike include the likely end of Roe V Wade, which legalized abortion across the US, Florida's Parental Rights in Education Bill - better known as the Don't Say Gay Bill, as well as fears for the future of America's democracy following the Black Lives Matter and January 6 riots.
Latitude Residency & Citizenship and Dasein Advisors, two other citizenship firms, said they too have seen more inquiries from American clients over the past three years than in the previous 20 combined.
Soaring numbers of wealthy Americans are buying 'golden passports' that grant them citizenship to New Zealand, Portugal and other 'safe' countries over fears of impending civil war in their home country.
Countries involved - including Portugal, Malta, New Zealand and Austria offer citizenship or visas that lead to citizenship in return for heavy investment in the host national, and a visit of just a few days there each year.
Henley & Partners, a firm that helps the wealthy shop around for citizenship across the globe, said sales to American nationals worth between $50 million and $20 billion have shot up more than 337 percent since 2019, Business Insider reported.
Malta offers EU citizenship to those who contribute more than $740,000 to the national development fund, more than $860,000 into real estate investment, more than $12,000 to charity, and provide proof of at least 36 months of residency in the country.
Andrew Amoils, the head of research at New World Wealth, which compiled the data, said: 'Affluent individuals have been emigrating from Russia in steadily rising numbers every year over the past decade, an early warning sign of the current problems the country is facing.
