In the migration business, some locations are known as vital source markets. They include China and the Middle East. Both provide an abnormally high amount of investors seeking Citizenship by Investment programs. This can be seen in the majority of surveys that feature investment migration firms. The majority normally report the previous two as the lion’s share of source markets.
However, a new addition is underway. In 2021, the North American market has gone from nil to a large representation.
In fact, many investment migration firms are mentioning North America as reaching the competitive levels of China!
This is a huge change from 2019. After all, American markets are usually not seen as sources of investors, but more as a recipient of them!
Canada & United States show Strongest Growing Demand
Most of the demand seems to be stemming from the United States. However, Canada may also be a contributor to that rise.
But what are the causes of that increase in demand? We suspect them to be the following…
(A) Great Tax Burdens
The US is imposing greater tax burdens than ever on its citizens. This has led to many Americans (and investors) to seek citizenship abroad.
In fact, record numbers of American citizens are attempting to do so, which may be the contributing factor to migration demand.
(B) Travel Restrictions
Many holders of US passports have lost their travel mobility as a result of COVID-19. As a result, many Americans are now seeking alternative passports.
Add to that migration education. Americans are now aware of the pros of their passport compared to other alternatives.
It’s estimated that awareness of investment migration is much higher among Americans than in previous years. This has led to many noticing key pros of European and Caribbean passports, compared to those of the Americas.
(C) Domestic Politics
American society has a naturally polarized political atmosphere. This has led many to seek a backup plan, leaving towards a location with a better political climate.
(D) Remote Work
The popularity of remote work gives many Americans (especially wealthy ones) the option to leave high-tax cities.
Places like San Francisco and New York are notoriously expensive, and being able to work while living in a cheaper location is a lucrative alternative.
This has led many Americans to seek cheaper RCBI countries in the Caribbean and Europe.
Many high net worth investors around the world (including Americans) are leaving first world countries for developing markets.
In fact, in 2019, less than 11 million high net work individuals were stationed in emerging markets. By 2024, it’s estimated that the value would rise to 18 million.
Basically, cheaper markets are attracting investors, and fast. With more affordability and potential for profit, staying in a developed country seems like a restrictive investment option.