Close to 75 percent of the top 20 wealthiest cities in the world share a unique link: they all have an investment immigration program.
They include six cities from the US, which has the top-rated EB-5 visa program offering fast-track permanent residence to anybody investing $1.05 million and creating 10 full-time jobs in the country.
Australia has two cities on the list and its Significant Investor Visa is the preferred option for investors from South-East Asia and other parts of the world.
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Singapore’s Global Investor Programme offers multiple investment options depending on whether the applicant is an entrepreneur, a member of a wealthy family, or simply interested in setting up a family office in Singapore.
The number of cities offering investment immigration options to wealthy immigrants is likely to rise next year with Dubai and Mumbai entering the industry.
Lessons for Wealthy Migrants
Just six cities in the top-20 list don’t have citizenship by investment program or permanent residence by investment program for HNIs.
They include London after the UK recently terminated its Tier-1 Investor Visa, and Toronto after Canada became the first developed country to end its popular golden visa.
Destinations like New York, Los Angeles, and San Francisco have more to offer than just a fast-track PR program for ambitious millionaires. However, there can be no denying that the presence of such an option can be a critical factor that convinces an investor to choose one city or country over another.
An investment immigration program creates a golden cycle where wealth attracts more wealth, which in turn pulls in more millionaires into the city.
Most of the cities in the top-20 list have either very high investment requirements or require migrants to look beyond passive investments.
The US EB-5 visa is available only to those who create at least 10 jobs in the country. The Significant Investor Visa requires applicants to allocate money to equity and Venture Capital funds.
Permanent residence in Singapore also comes with a high price tag, while Dubai is combining its Investor visa with a concerted push to attract skilled workers and professionals into the country.
Good growth prospects, opportunities for wealth creation as well as wealth protection, stable economic and political institutions, excellent prospects for the next generation and a high standard of living – virtually every city in the list ticks all these boxes.
An investment immigration program offers the right to work, study, invest, live, and settle in the destination of choice without onerous requirements.
This is why even the most expensive programs rack up huge backlogs as demand from professionals and entrepreneurs outstrips the supply of these visas.