The ultra-wealthy are seeking more than just financial diversification, they want freedom, security, and control over their futures. Increasingly, that means investing in a second passport which is now considered a necessity among the ultra-wealthy.
According to Armand Arton, CEO of global advisory firm Arton Capital, second residencies or passports are no longer simply lifestyle upgrades, they’re strategic investments.
“A second residency or citizenship has become one of the most coveted assets among the ultra-wealthy,” Arton explains. “It’s driven by ambitions for improved mobility, security, and futureproofing. For many, it’s a hedge against uncertainty.”
Once the domain of jetsetters seeking easier travel, second citizenship has evolved into a powerful tool of geopolitical insurance.
But mobility is only one piece of the puzzle. “Acquiring a European Golden Visa, for example, grants access to the Schengen Zone and Europe’s most dynamic markets. This empowers high-net-worth individuals to expand their businesses, explore new opportunities, and enjoy unrestricted travel,” says Arton.
But the motivations go deeper. Security, both personal and financial has become paramount. “Elections, pandemics, and the climate crisis serve as a stark reminder of how quickly freedoms can be revoked and situations can change,” he adds. “Second residencies and citizenships now act as a crucial hedge against geopolitical uncertainty and economic instability.”
Over the past ten years, demand for second citizenships has surged, particularly in response to crises. “Each year, interest in Golden Visa and Citizenship by Investment Programmes grows by around 15–20%,” Arton notes. “The conflict in Ukraine and the outbreak of Covid-19 were major catalysts. And we’re likely to see a similar uptick in response to tensions currently gripping the Middle East.”
What’s more, the industry itself has evolved. “It has matured. Programmes are becoming more tailored to each country’s needs. There are a large number available investors are spoilt for choice.”
Arton predicts similar trends will follow in response to rising tensions in the Middle East and elsewhere. “Savvy investors are always looking ahead. When uncertainty spikes, demand for second citizenship rises with it.”
While financial advantages are often cited, Arton stresses that wealth migration isn’t solely about reducing tax burdens. “There’s a common misconception that taxation is the main driver. In reality, clients are usually motivated by freedom, security, or a lifestyle upgrade.”
Still, taxation can play a role, especially in countries where citizenship programmes offer favourable treatment. “Latvia, for example, has a 20% capital gains tax and no wealth tax for non-residents. Italy offers a flat-tax option on foreign income,” says Arton. “But benefits vary based on an investor’s home country. American citizens, for instance, are still taxed on their worldwide income, no matter where they live.”
As the investment migration industry matures, it’s also integrating more deeply into wealth management strategies. No longer seen as a fringe add-on, global citizenship is now a pillar of high-net-worth planning.
“It complements traditional financial planning by offering geographical diversification, market access, and personal security,” Arton explains.
Clients often invest in real estate or government funds to qualify. “These investments not only diversify portfolios but also shield assets from economic volatility. Perhaps most importantly, they provide long-term benefits for family members from access to healthcare and education, to global mobility.”
This isn’t just about protecting money, it’s about preserving legacy.
Arton Capital positions itself not just as a facilitator, but as a thought leader. “We’ve advised over 13 governments on citizenship and visa policy. We want investment migration to benefit both our clients and the host countries,” says Arton.
That level of influence means Arton Capital has a hand in shaping how programmes are designed and how they function ensuring they benefit both investors and host countries. He notes, “We want to be at the forefront of this evolution.”
The real power of second citizenship becomes most visible in moments of crisis. Arton recalls one case from recent years: “During the political unrest in Hong Kong, where protestors clashed with police and uncertainty loomed, we helped a client gain citizenship in Antigua. With his new passport, he relocated almost immediately, avoided the fallout, and continued operating his business from a stable environment.”
That kind of agility, the ability to move, adapt, and safeguard your family or business is the ultimate utility of investment migration.
One of Arton Capital’s most recent initiatives saw the firm collaborate with Techcombank Private, one of Vietnam’s largest banks, on a series of “Wealth Management and Global Investment Opportunity” seminars. “We were selected as their exclusive strategic adviser,” says Arton. “Vietnam’s HNWIs are increasingly looking for global diversification, and we helped educate their teams on how second citizenship fits into that strategy.”
With most of Vietnam’s wealthy banking through Techcombank, the partnership made sense. “They’re seeing major growth in their foreign exchange business VND 100bn last year, aiming for 500bn in 2025, and 1,00bn by 2026. These citizenship services are key drivers in that FX growth.”
Looking ahead, Arton Capital is turning its focus toward other fast-growing Asian markets. “We’re especially interested in Thailand, Cambodia, and Malaysia,” Arton says. “These countries have a growing upper-middle class and high-net-worth population. Many are now seeking outbound mobility.”
At the same time, these countries are developing their own inbound residency programmes like Thailand’s Elite Visa and Malaysia’s ‘My Second Home’ scheme, suggesting strong potential both for incoming and outgoing investment.
More broadly, the forces driving demand for second citizenship show no signs of slowing. “With a geopolitical crisis unfolding in the Middle East, economic uncertainty across global markets, and ongoing political turmoil, the demand for a ‘Plan B’ has never been greater,” Arton concludes.
“Plan B for the Ultra-Rich: Why Global Citizenship Is Now a Strategic Asset” was originally created and published by Private Banker International, a GlobalData owned brand.
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