Over the recent days, we have heard some inspiring news related to the coronavirus pandemic. Several countries are starting to soften the quarantine requirements and it looks like the situation is beginning to improve little by little. However, it would be wrong to expect that the world economy is going to revive in an instant and there are several reasons for that. A second passport will become an especially valuable asset in the new world that we are going to find after the pandemic is over.
This is not the first time when humankind faces a pandemic. However, the global lockdown makes the current situation truly unique. Vast numbers of people have suddenly lost access to the fruits of globalization that they could freely use before.
The tourist industry has suspended all operations. The demand for transportation services has fallen drastically. The Central Banks take protective measures that may well entail the risk of inflation. A huge number of jobs has already been lost. Many experts believe that the coronavirus is more dangerous in terms of economic problems that it is bringing about rather than in terms of the number of deaths that it causes. It would be unwise to expect that the national economies will restore quickly after the pandemic is defeated.
You have a chance, however, to succeed while others fail. After the lockdown has ended, the owners of passport collections will be able to restore old structures and build new ones faster than those who hold a single passport. They will be better equipped to fill the empty market niches that are currently growing in quantity very rapidly.
We would like to make a heretic statement here: the coronavirus has done good to the development of the citizenship-by-investment industry. In particular, it has made Caribbean states issuing second passports as well as the state of Vanuatu in the Pacific start accepting applications for citizenship via the Internet. This means that you can apply for second citizenship without leaving your house or apartment.
What makes this opportunity even more inviting is the fact that the Caribbean countries offer the most affordable citizenship-by-investment Government programs. You can read more about them by clicking here.
Citizenship by investment and the crisis: Why you should not expect that the world economy will be back to normal soon
The recent positive news about the slow retreat of the pandemic makes all of us very enthusiastic and may be even elevated. There is no doubt that it is wonderful to have the end of the lockdown in sight. It has been making a great number of people feel depressed and gloomy. The prospects of the returning freedom look extremely exiting.
Of course, you always must hope for the better. According to the recent data, the speed of the coronavirus proliferation is decreasing and the death rate is apparently lower than it had been expected. This is good news without doubt.
At the same time, it is alarming to witness a growing number of ultimatistic optimists who take into consideration only the positive changes and leave the signs of danger out of sight. The share prices are growing, for example, because investors tend to believe that the economies are going to restore as fast as they fell following a V-shape pattern.
If you look at the current situation closer, however, and take a sensible attitude to what is going on around you, you will see that ‘normalcy’ is far from being within reach thus far. There are some hard truths that need to be taken into account and some factors that must set you thinking about acquiring ‘a spare landing field’ very seriously. Below please find five reasons why the economy is NOT going to follow a V-shaped pattern and why the world is probably never going to be the same again.
Citizenship by investment and the crisis: Post-traumatic stress disorder
We are living in the times when embraces are considered equal to acts of biological terrorism. It would be silly to expect that after the quarantine is lifted, all the people will leave their hiding places are return to normal life flooding the bars, the trade centers, the offices, the elevators, and so on – just like they used to do before the lockdown.
Experts predict that the planet is going to suffer greatly from post-traumatic stress disorder (PTSD). Millions of people are going to change their habits and decrease the amount of goods and services that they consume. They will prefer staying home to socializing and many will go out only if they have to. Clearly, this attitude is going to have a long-lasting negative economic effect.
Citizenship by investment and the crisis: Farewell to small business
Countless small businesses were ‘temporarily’ closed last month and the month before. The truth is that many of them are never going to open again. Many others had to fire several employees in order to survive through the hard times.
But even when the economies become fully functional again, some small business owners will find out that they do not really need so many people on the staff. “My business has survived with a lesser number of employees than I had before. This means I do not need so many people working for me!” If such entrepreneurs see that their small companies can make profits at lesser costs, they are not going to hire again those that they fired before.
Thus, some of the temporary job cuts will turn into permanent job cuts. Obviously, this will lead to higher unemployment rates and, consequently, lowering of the living standards for many people.
Citizenship by investment and the crisis: Large businesses are going to shrink too
The same applies to large business corporations. It is a generally accepted estimation that an average large company can lay off 10% of its personnel without losing much of its production capacity. The effect is going to be minimal, in fact.
For this reason, many large companies who have fired part of their staff will not be prepared to hire the people back. In addition to that, they can further reduce their production costs because apparently they do not need so much office space! Some of their staff have been working from home quite successfully!
Strangely enough, but many CEO’s have found out that they can have people working for their companies from home. And those workers who have not lost their jobs but have been working from home instead may well find this opportunity attractive. In other words, they may have nothing against continuing working from home even when the pandemic ends. This will evidently lead to decreased demand for office space leaving many office buildings at least partially empty.
Citizenship by investment and the crisis: Physical retail sector started dying even before the pandemic occurred
Retail shops are going to find themselves in a very difficult situation due to the continuous growth of electronic commerce, the negative effects of the lockdown, and the PTSD that will keep many people from going shopping as often as they used to do before.
Retail shops and trade centers are large employers. So it will be safe to claim that many salespeople and tellers are going to lose their jobs in the near future thus increasing the total number of the unemployed. Besides, the drop in the retail sales is going to have a negative impact on the real estate market too. In particular, the prices of commercial property are going to fall and this concerns both sales and rent prices.
Citizenship by investment and the crisis: The possibility for recurrent coronavirus outbreaks
The social distancing practices and the localization of the pockets of infection have been able to decrease the levels of coronavirus transmission. It is worth knowing, however, that in such countries as Hong Kong and Singapore, for example, a recurrence of the infection outbreaks has been registered. It occurred after the authorities of these countries eased the anti-coronavirus requirements believing that the virus had been defeated.
It is highly unwise to forget that the coronavirus may strike again even after the pandemic is seemingly overcome. A second virus attack may have serious negative economic effects as well.
Citizenship by investment and the crisis: The necessity to obtain a second passport and new possibilities comes to afore
The five factors taken together are bound to have long-lasting negative effects on the unemployment rates, the financial markets, the state budget deficit, the money supply, etc. for an indefinitely long time. These factors cannot be ignored.
The general attitude is that the pandemic will soon be over and the world economy will start recovering very fast. This would be great without any doubt. Positive thinking is a praiseworthy quality indeed. We know that we will defeat the coronavirus some sunny day. But we have to be realistic: there are certain hostile factors being part of the objective reality. The reality is such that the pandemic can have effects that are going to last much longer than many people want to believe.
There is a good chance that the restoration of the world economy is going to take several years. There is also a good chance that people who have a wide range of possibilities will be more successful in the recovering period than others. Acquiring a second (and a third, etc.) passport will extend the range of your possibilities immensely.
We are talking about the possibility to travel around the world without having to apply for visas; the possibility to open bank accounts in different countries; the possibility to invest into the economies of those national states that recover at a faster rate; and the possibility to start business companies in different parts of the globe.
Yes, the turning point in the fight against coronavirus is probably already in sight. Sooner or later, the lockdown will be lifted. And while others are thinking how to start rebuilding their lives, the owners of passport collections will be able to grab the precious chances that the renewing globalization processes are going to bring.
If the idea of acquiring a ‘spare landing field’ has ever visited you, now is the right time to bring it back and get down to work. Today there is a wonderful opportunity to provide for financial as well as physical security for yourself and for the members of your family. Supremacy of law is the major guiding principle applied in the countries that offer the opportunity to acquire their citizenship in exchange for an investment into their national economies.
Citizenship by investment and the crisis: A brief guide on obtaining a second passport and extending the range of your opportunities
It is good to know indeed that you can apply for foreign citizenship without leaving home now. However, before you do so, please read a short simple guide on how you should go about obtaining a second passport.
Choose the country
Study the immigration services market and evaluate the possible destinations. Define your priorities and find the information about each prospective country of second citizenship GDP, the amount of foreign direct investment that it receives, the international relationships that it has, the infrastructure development projects that it carries out, and so on. Learn about all the factors that add value to the passport of every country that you may consider becoming a citizen of.
Estimate the costs
The minimum amount of money that you have to invest in order to acquire a second passport is not larger than the price of a small apartment in an average-size European or American city. Depending on the country that you choose, the price of a second passport can vary between a hundred thousand US dollars and 2.15 million euros. Most people prefer to make a non-returnable donation to the state fund as this is the cheapest way of acquiring foreign citizenship. There is a possibility, however, to make a returnable investment into real estate, business, or securities thus obtaining a second passport. The required investment amounts are a bit higher than the donation amounts but the investment option will look more lucrative in the mid- or long-term.
Choose a licensed agent
In many countries, you are not entitled to file an application for foreign citizenship on your own. Whatever country you choose, the law requires that you use the services of a licensed immigration agent who will act in the name and on behalf of the applicant, that is, you. A professional immigration agent will know the answers to all your questions and will be eager to do everything that he or she can to make your application a success.
Our partner companies offer immigration, investment, and banking solutions that span over Europe and North America and in addition to that, over the low-tax jurisdictions in the Caribbean. You are most welcome to apply for a consultation on asset protection and diversification by sending a request to firstname.lastname@example.org. We will be prompt in replying.