Second Passports: Latest HNW Status Symbol

Fast cars, designer watches, a holiday home on the French Riviera; all examples of iconic status symbols amongst the rich and famous. In recent years there has been a new commodity that high net worth individuals are now acquiring- second passports. Highly desirable luxuries are still undeniably in demand, but in our modern world filled with political uncertainty and travel restrictions, wealthy individuals are looking to invest in something which will bring them far more value than materialistic items.

Some may view it as a simple document, but with a second passport or residency permit comes freedom and security. One will be able to travel more freely, conduct more international business, increase their family’s education opportunities and potentially gain a number of tax benefits too. It has previously been compared to being part of an exclusive private members club. Why purchase a Ferrari when you can invest in your whole family’s future for a similar cost.

There has also been an increase in the number of celebrities obtaining multiple citizenships. Madonna, Tom Hanks and a number of international football players have gained second passports in the last few years.

Citizenship by Investment programmes start from as little as $140,000 for a single applicant, a small price to pay for the numerous benefits one will gain. La Vida offers 18 different programmes with options in Europe, the Caribbean and the USA. For more details on the programmes, please contact our experienced consultants.