• The UAE’s Golden Visa attracted 6,800 investors in 2019 and now over 150,000 people
  • Grenada is predicted to generate $79 million in investment from Q3 2022 applications
  • 13 planned CBI programs are in the investment migration industry’s global pipeline

Dubai, UAE: Passport Legacy, a Swiss boutique firm with over 25 years of combined experience in the investment migration industry, has observed a growing list of countries that are initiating Residency and Citizenship by Investment (CBI) programs; Uzbekistan, Laos, Suriname, and Armenia all announced plans to introduce CBI initiatives in Q4[1]. The long-standing success of renowned CBI programs like Grenada and St. Kitts & Nevis as well as RBI programs such as Portugal, a rapid rise in popularity of Residency-by-Investment programs like that of the UAE, and increased demand for second passports are fueling this global growth.

Portugal’s RBI program has existed for now over a decade and attracted foreign investment equating to about EUR 6.7 billion[2]. The UAE’s RBI incentive was able to approximately quadruple this value, in terms of recipients’ net worth, by attracting 6,800 investors and residents who were worth an estimated AED 100 billion in its first year alone[3]. This has the country well-positioned to increase its global popularity, and potentially outpace Portugal’s investment generation at an accelerated pace, especially with 150,000 people and counting having now been granted the country’s golden visa.

Despite being only just over three years old, the early success of the UAE Golden Visa quickly saw HH Sheikh Mohammed open up the program to UAE-based physicians and engineers in the fields of computer science, electronics, programming, electricity and biotechnology. Since then, the country has further expanded its eligibility scope to encompass several other industries and talented professionals. This is helping the UAE compete with the proven programs of countries like Grenada which received a record 462 applications in Q3 of 2022 to shatter its previous record in Q4 of 2021 by 164% and placed it on a path to generate a resulting $79 million in investment[4]. At the same time, UAE investors have preferred, and continue to pursue, fruitful CBI investment opportunities in Caribbean nations like Grenada, as well as Saint Kitts & Nevis[5].

Jeffrey Henseler, Founder and Managing Partner of Passport Legacy UAE HQ, said: “For a country to run a successful Residence and Citizenship by Investment (RCBI) program, it goes beyond simply attracting a high volume of applicants. An excellent standard of liveability, low levels of risk, and the profitability of your asset once the minimum holding period comes to a close are among important considerations[6]. Countries such as Portugal and Grenada, for example, have exhibited the ability to do this with their programs’ proven track records of success. Now, even the UAE is joining the mix to effectively offer a sustainable RBI initiative that provides mutual gain to both the country and investors of its program. While more countries are jumping into the mix, the benefit will only be realized if upcoming RCBI programs maintain a high standard of quality and seamless ability to open borders for those seeking second passports.”

With it recently being announced that Dubai has retained its stature as the leading hub for RCBI for the second consecutive year, the country’s Golden Visa program is destined to maintain its upward trajectory. Furthermore, with the global investment migration industry now valued at around $30 billion and projected to reach $100 billion by 2025, second passports will continue being sought out in growing numbers on a global scale. There are currently 13 planned CBI programs in the investment migration industry’s global pipeline. While some countries refine their current initiatives, and others introduce new ones altogether, the UAE, Portugal, and Grenada will remain among the key leaders of the worldwide sector.

-Ends-

About Passport Legacy:

Founded by Jeffrey Henseler, Passport Legacy is a Swiss boutique firm with over 25 years of combined experience in the residency and citizenship-by-investment industry. Headquartered in Dubai, UAE with supporting global offices in Nigeria, Pakistan, and Lebanon, Passport Legacy is a CBI company providing a range of tailored professional services to its private clients including the acquisition of alternative residences or citizenship as well as real estate. Through its highly-knowledgeable and experienced Client advisors, who are available to call and text 24/7, Passport Legacy facilitates access to over 150 countries.

For all media inquiries contact:
Aaron Illathu | Bianca Riley | Karim Geadah | Jinaan Hameer | Dushane Solomon
Atteline
E-mail: passportlegacy@atteline.com

[1] https://www.imidaily.com/analysis/the-13-planned-citizenship-by-investment-programs-the-market-is-waiting-for-which-will-open-first/
[2] https://www.imidaily.com/intelligence/portugal-golden-visa-fund-investment-has-quadrupled-in-just-two-years/
[3] https://www.imidaily.com/mena/after-raising-aed100-billion-in-1st-year-uae-extends-golden-visa-to-doctors-computer-scientists/
[4] https://www.imidaily.com/intelligence/grenada-cbi-application-volume-through-the-roof-in-q3-nearly-triples-y-o-y/
[5] https://gulfnews.com/business/st-kitts-and-nevis-cbi-programme-looks-to-attract-intelligent-discerning-investors-1.1670580716366
[6] https://www.imidaily.com/anatoliys-analysis/what-the-ideal-citizenship-by-investment-program-might-look-like/