How Global Political Uncertainty is Driving Golden Visa Demand in 2024
As billions of people around the world prepare to vote in local, regional, legislative, and presidential elections over the next year, the increasing political uncertainty seems to be driving a notable rise in the demand for Residence and Citizenship by Investment (RCBI) programmes. According to La Vida’s recent investment migration survey, 31.11% of respondents indicated that their primary incentive for considering a Golden Visa programme was to have a Plan B and security against political uncertainties. Additionally, 23.3% selected relocation as their primary reason. This latter figure was particularly unexpected, as previous data had not shown relocation to be a significant driving factor for our clients.
Even stable democracies are facing significant challenges this year, including voter apathy, efforts to suppress opposition, and the spread of sophisticated disinformation campaigns. These issues are creating a sense of instability, prompting many individuals to seek alternative citizenship options as a safeguard.
In Europe, political landscapes are evolving significantly, with French and German voters seeking new directions and changes in traditional politics. This dynamic environment has seen increased support for various parties, including some nationalist movements. Although the radical right-wing wave hasn’t fully taken over, the political centre in the E.U. remains resilient. This environment has led to a closer examination of RCBI programmes by the EU commissioner, prompting countries to adapt their offerings to meet new standards. If right-wing parties gain more influence in Europe in the coming years, it could further boost the appeal and demand for European Golden Visa programmes.
The United Kingdom is experiencing its own political upheaval. Polls indicate that the Conservative Party, in power for 14 years, might face a significant defeat to the Labour Party in the coming weeks. This potential shift is creating uncertainty, causing more affluent UK citizens to explore RCBI options as a precaution and also destinations with more favourable tax regimes, such as the Caribbean or UAE. Combined with the UK’s recent exit from Europe, many UK citizens are seeking to reestablish a connection to the continent by applying for Golden Visa programmes in countries like Portugal and Spain.
France is also in a state of political flux. President Emmanuel Macron’s unexpected call for new elections in the lower house of Parliament has introduced a period of deep uncertainty.
In the United States, the possibility of a rematch between President Biden and former President Donald J. Trump later this year adds another layer of unpredictability to the global political scene. The polarization and instability of U.S. politics are encouraging more Americans than ever before to explore RCBI programmes as a means of securing their future.
In South Africa, the African National Congress recently received less than 50 per cent of the national vote for the first time in three decades, leading the country into uncharted territory. This unprecedented situation is motivating more South Africans to consider alternative citizenship for stability and security.
In India, Prime Minister Narendra Modi is set to embark on a third term, although the recent Parliament election was more competitive than anticipated. This tight race has compelled him to depend on coalition partners who do not fully align with his Hindu nationalist agenda, potentially leading to a more diverse and balanced approach to governance.
In Mexico, Claudia Sheinbaum, a climate scientist and former mayor of Mexico City, won the presidential election in a historic landslide, becoming the first woman and the first Jewish person to hold the office. Despite this momentous milestone, political uncertainty in Latin America is pushing some citizens to consider alternative residency or citizenship options.
As global politics continue to evolve and present new challenges, the demand for Golden Visa (RCBI) programmes is projected to increase. At La Vida, we have successfully assisted clients from over 150 countries in obtaining residency or citizenship through investment. In recent years, we have seen particularly strong demand from the aforementioned countries, highlighting the significant impact that elections and political uncertainties have on investors’ plans. This trend underscores the growing importance of securing alternative citizenship as a strategic safeguard.
If you are interested in securing a Plan B Residency or Citizenship, please do not hesitate to reach out to our expert advisors for more information on your options.
