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The $2 Billion Market for Passports
As migration and inequality continue to get significant attention from the U.S. presidential candidates, it is worth noting a rising phenomenon at the intersection of these two topics: economic citizenship. A growing number of countries offer individuals passports in return for investment, and the wealthy have been taking advantage in increasing numbers. In 2014, the global rich spent an estimated $2 billion acquiring nationalities. The Caribbean is the global capital of “citizenship-by-investment” programs. A passport from Dominica can be had in return for a $100,000 investment. A $400,000 real estate investment ... (full story)