Tightening of Borders throughout Summer Holiday Drives Interest in Investment Migration
Dubai, UAE - According to Henley & Partners, the international residence and citizenship advisory firm, global mobility has been significantly impacted by the number of unprecedented events and seismic shifts in the world. This is on the back of the firm’s annual travel freedom ranking Visa Restrictions Index, developed in partnership with the International Air Transport Association (IATA).
With millions of holidaymakers embarking on their annual summer vacation, many are set to discover how limiting their passports may be in the face of new visa restrictions and travel bans being imposed worldwide. Despite the undebatable convenience of international travel, terror attacks and recent geo-political developments — such as Brexit and the US travel ban on mainly Muslim countries — are threatening to curb the travel freedom enjoyed by many around the globe.
Bata Racic, Manager of Henley & Partners in the Middle East, recently stated that policy amendments in the US, EU, and Middle East are expected to have a major effect on the rankings of these countries’ passports. “The 2017 Henley & Partners Visa Restrictions Index clearly highlights the huge disparity in the levels of travel freedom enjoyed by citizens of different countries. Generally, visa requirements reflect a country’s relationship with others and consider the diplomatic relations between nations, reciprocal visa arrangements, security risks, and the dangers of visa and immigration regulation violations.”
Britain’s decision to opt out of the EU last year appears to have provoked a wave of nationalism. This, in turn, had led to much tighter border controls worldwide and increasing restrictions on foreign travel. On the other side of the Atlantic, US President Donald Trump continues to make headlines with his policy amendments following his recent decision to withdraw from the Paris Agreement and push ahead with a travel ban against six Muslim-majority countries, possibly harming relations with his international allies.
“We are witnessing an increasing number of people seeking alternative citizenships as more and more countries move to tighten their borders and shut down the paths to immigration. The unsettling world climate has prompted an increased emphasis on physical safety and financial security, motivating high net worth individuals to explore investment migration programs as a means of reducing their exposure to risk and opening up new opportunities, as well as providing alternative options for themselves and their families,” Racic concluded.
About the Henley & Partners Visa Restrictions Index
Since 2006, the index has been produced in collaboration with the International Air Transport Association (IATA), which maintains the world’s largest database of travel information. Regional and country insights and infographics are available on the Henley & Partners Visa Restrictions Index website: visaindex.com
About Henley & Partners
Henley & Partners is the global leader in residence and citizenship planning. Each year, hundreds of wealthy individuals, families and their advisors rely on its expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 25 offices worldwide.
The concept of residence and citizenship planning was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.
The firm also runs a leading government advisory practice which has raised more than USD 6 billion in foreign direct investment. The firm has been involved in strategic consulting and the design, set-up, and operation of the world’s most successful residence and citizenship programs.
© Press Release 2017