Did you think that the ultra-wealthy were just going to sit here and get blown to bits with everyone else? Just like you, they can see where things are heading, and many of them have been feverishly developing contingency plans. Before things finally hit the fan, many of them are going to hop on private jets and fly to well prepared compounds in wealthy enclaves on the other side of the planet. Needless to say, the vast majority of Americans will not have such an option.
If you have enough money, you can literally buy residency in another country. I realize that this isn’t exactly fair, but this is how the world works. Provided you are willing to shell out enough cash, there are more than a dozen nations that will allow you to purchase a “golden passport”…
More than a dozen countries offer so-called “golden passports” and visas that allow affluent foreigners to receive citizenship or residency in exchange for investing in the country. The most expensive programs range from $1.1 million in Malta to $9.5 million in Austria, according to Forbes.
This sort of thing is not for normal millionaires. According to one CEO that was interviewed by Insider, those that are in the market for a “golden passport” usually have a net worth of at least 50 million dollars…
Reaz Jafri, CEO of Dasein Advisors, said he has received more American inquiries over the past three years than the previous 20 years combined. He said his US clients often work in tech, real estate, or crypto, and are worth between $50 million and $20 billion.
Can you guess which “golden passport” is the most popular?
Personally, I was quite stunned to learn that Portugal is actually leading the pack…
Two of the firms interviewed by Insider said Portugal’s five-year residence permit — which allows visa-free travel to 26 countries in the European Union — is the most in-demand program among American investors.
Portugal’s “golden visa” requires a minimum investment of slightly over $200,000 and an average stay of seven days a year in Portugal. When the permit expires, residents can then apply for full-time citizenship, which can take an additional three years.
Due to the beautiful weather, the beaches, and all of the wealthy people that are moving there, Portugal is apparently being called “the new California”.