Expert: Growing UAE expats demand for second passports
Vazir Group, the UAE-based migration services firm, reports a growing demand in the region for second passports and permanent residency visas. The bespoke provider offers tailor-made solutions to gain access to residency, passport and citizenship options for its clients. Most of Vazir Group’s clients are from the High Net Worth (HNW) community, with the firm identifying an increasing number of individuals who value the stability and security of permanent residency and citizenship of a second country.
According to the UN International Organisation for Migration, the most recent report suggests there are approximately 244 million migrants in the world, as of 2018. Migrants may have chosen to depart their homeland for a number of reasons, whether it is to seek better economic prospects, fleeing conflicts, or simply trying to attain a better lifestyle. With so many ‘global citizens’, who are not tied to a particular nation or place, it can leave individuals and their families without the foundation of a strong passport. This can be particularly destabilising for those who wish to travel extensively, whether for business or leisure. Additionally, children of migrants born in the UAE do not have access to Emirati citizenship, which can leave individuals with heritage passports from their family background that are deemed inferior.
Vrinda Gupta, Managing Partner of Vazir Group said: “There are currently around 8.5 million expatriates living in the UAE, many of whom hold passports and citizenship that restrict their access to global travel. We are seeing increasing interest from individuals and their families who require alternative citizenship options. For many business people, it is an absolute necessity to be able to operate freely across the world, so a second passport or permanent residency can be a great investment.”
According to the Global Business Travel Association, corporate travellers take more than 480 million business trips per year. It is therefore essential for many UAE residents to have a passport that grants easy access to key economic hubs.
Vazir Group can also reveal that Canada tops their list of most desirable locations for those looking for second citizenship, with Cyprus and Malta rounding off the top three.
The ‘Best Countries Ranking’, developed by brand perceptions company BAV Group & The Wharton School at the University of Pennsylvania, surveyed 21,000 global citizens and classifies Canada as the ‘Best Country for Immigrants’. This is attributed to its national policy of multiculturalism and its economic backdrop that encourages entrepreneurs.
Gupta added: “Canada is the top location for those seeking secondary nationality, as there are a variety of options for those who either want to permanently relocate or make an investment that grants citizenship. The system can sometimes be quite confusing for those who know little about the processes. It’s not impossible for individuals to do the application themselves, but there are many essential documents and local authorities involved, so for those who value their time we’d recommend speaking to a specialist advisor.”
The Vazir Group is a boutique firm that disrupts the established model of migration services in the UAE, offering specialist advice and tailor-made solutions that are perfectly attuned to the needs of the High Net Worth community, opening up new worlds of opportunity, stability and global citizenship.
For more information, visit: www.vazirgroup.com