February 12, 2024

Even after just 1 month it’s clear that geopolitics are going to dominate 2024. It’s an American election year which is undoubtedly going to affect the Investment Immigration market, though you might be surprised to learn that this has already happened. A huge increase in the number of Americans seeking out second citizenship through investment and residency programmes has already begun. This movement is indicative of two things, that Americans are genuinely worried about the very real threat of a polarised and politically unstable country; and that people reliably see Investment Immigration programmes as a credible back up plan and solution to the problems they are facing.  

Several European countries are also facing elections, most notably in Portugal and the UK, both of which are highly likely to result in a change of government and dramatic shift in policies. Political difficulties in many European countries and a highly fragmented political landscape littered with extreme views forms the backdrop for European parliament elections in June; with many countries expected to return increased far-right representation. Along with an increased number of right leaning governments across the continent with nationally focused populist leaders, this could scupper EU attempts to push through policies and even result in significant changes in policy on areas such as immigration and climate change. 

Changes in policy are likely to affect European residency programmes directly, with concerns already being raised about Golden Visas driving up property prices. EU pressure has also led to recent changes in Caribbean CBI programmes, resulting in more stringent regulations for applicants. Any shifting of EU policy could apply significantly more pressure to the CBI market, resulting in stricter changes and increased complexity of programmes.

The wider effect of conflicts in Europe and the Middle East is also likely to further extend into the CBI market. We’ve already witnessed the banning of Russian and Belarusian nationals from most programmes, with bans or higher due diligence fees for Iranian nationals and a recent suspension of Yemeni nationals applying to certain programmes. 

With the wider political instability across many regions and factions of opinion forming around conflicts, these destabilising effects on programme requirements and eligibility are likely to get worse before they get better. In addition to this, foreign policy is being changed at extremely short notice, with the timing of sometimes foreseeable events still very hard to accurately predict. For these reasons, making a reliable back up plan that includes a second residency or citizenship is essential. As it takes several months to receive a passport or residency, you have to plan ahead, as once a crisis hits it is too late to secure your family and wealth. With rapid policy announcements, you won’t have much warning of changes that may affect your eligibility or access to these programmes. At the beginning of 2024, there are still programmes available that offer reliable security for your family at an accessible price point. Don’t wait for your opportunities to disappear, secure your future by applying today with the help of our professional advisors.

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Premier Consultancy’s team of professional immigration consultants are known for their expert industry advice and for developing an empathetic understanding of client circumstances to deliver results that exceed expectations. Having delivered 500+ passports to extremely satisfied clients, we take pride in our hard-earned reputation as a provider of world-class immigration services.