Asian high‑net‑worth individuals (HNWIs) are increasingly using second‑passport programmes as part of broader wealth‑planning strategies. 2025 saw a record 142 000 millionaires expected to relocate, with forecasts pushing that figure to around 165 000 for 2026. Asia contributes more than 100 000 of those new millionaires and holds roughly one‑third of global private wealth, yet its largest economies are also losing the most affluent residents.
Migration patterns
- Net outflows – China recorded a net loss of several thousand millionaires in 2024, second only to the United Kingdom; India lost an estimated 4 300.
- Visa types – Only about 30 % of migrating millionaires obtain status through formal investment‑migration (citizenship‑by‑investment) programmes. The remainder rely on work, family, ancestry or retirement visas.
- Singapore as a hub – The city‑state’s family‑office ecosystem expanded rapidly: tax‑incentive approvals rose from ~400 in 2020 to >2 000 by the end of 2024. Resident millionaires now number 242 400, a 62 % increase over a decade, positioning Singapore among the world’s wealthiest cities.
Popular citizenship‑by‑investment programmes
| Programme | Main source of applicants (2024‑2025) | Typical contribution* |
|---|---|---|
| Grenada (Caribbean) | Chinese nationals – 23 % of 2024 applications, 28 % in H1 2024 | $230 000‑$250 000 |
| Antigua & Barbuda | Similar price band as Grenada | $230 000‑$250 000 |
| St. Lucia | Similar price band as Grenada | $230 000‑$250 000 |
| St. Kitts & Nevis | Similar price band as Grenada | $230 000‑$250 000 |
| Vanuatu | Fast processing (≈2 months) | ≈$130 000 |
| Nauru (climate‑resilience programme, launched 2025) | – | $115 000 |
| São Tomé & Príncipe (Portuguese‑speaking bloc, launched Sep 2025) | – | Below Caribbean band; 98 applications in first 4½ months |
| Portugal (Golden Visa) | Chinese investors remain the largest single source (≈42 % of total €7 bn invested since 2012) | Varies; fund route now subject to multi‑year backlog; residence requirement increased to 10 years for most applicants (effective May 2026) |
*Contributions include government fees, donation, or investment components as required by each programme.
Emerging trends for 2026
- Price competition – Small island states adjust contribution levels and processing speeds to stay competitive, as highlighted in an IMF working paper (Jan 2025).
- Speed vs. cost – Vanuatu and Nauru offer the quickest routes at the lowest price points, appealing to families seeking rapid mobility.
- Regulatory tightening – Joint FATF‑OECD reporting has led to stricter source‑of‑funds vetting across reputable programmes, increasing due‑diligence requirements.
Choosing the right programme
Selecting a citizenship or residence option depends on multiple, client‑specific factors that go beyond headline costs:
- Tax exposure – U.S. tax obligations, double‑tax treaties, and the applicant’s existing tax residency.
- Source of wealth – Whether assets are held personally, through corporations, or across multiple jurisdictions.
- Mobility needs – Desired visa‑free travel destinations, banking access, and business considerations.
- Long‑term intent – Whether the family plans to relocate permanently, maintain a “reserve” option, or simply diversify passports for future flexibility.
- Programmatic changes – Recent adjustments such as Portugal’s extended residence requirement and backlog in its fund route illustrate how terms can shift rapidly.
Professional advice is often essential to navigate these variables, conduct thorough due‑diligence, and align the chosen programme with the family’s overall wealth‑preservation strategy.
Source article: www.imidaily.com
