Arabian Business, Tue 13 Feb 2018 10:27 AM Savory & Partners founder and CEO Jeremy Savory discusses citizenship-by-investment programmes and how they safeguard people and their assets. We live in a very uncertain world, currently fraught with geopolitical tensions, social upheaval and economic ups and downs. For these reasons – and more – people around the world, and especially in the Middle East, are increasingly looking for second citizenships to protect their assets and, more importantly, ensure a secure and prosperous future for themselves and their families.
Experts at Savory & Partners, one of the largest companies in the Middle East that provides citizenship-by-investment programmes, said that high-net-worth families in the GCC contributed to a 76 per cent increase in demand for second passports from Europe or the Caribbean in the last quarter of 2017. But that demand will subside after 31st of March 2018 when prices are expected to increase.
Twenty seventeen was a bumper year for second passport applications in the UAE. It is a growing industry in the Middle East that goes back 30 years, with a number of spikes, including when Iraq invaded Kuwait and the Arab Spring in 2011. Last year saw an attempted coup in Turkey, rockets in Riyadh, Hariri’s resignation, the war in Yemen, continued war in Syria, Iran sanctions renewed and a purge in Saudi. Qatar, which a year ago was riding high on the World Cup wave, is now a problem visa to have in your passport.
The Daily Star, Lebanon | 2017-11-27 Prime Minister Saad Hariri’s abrupt resignation and prolonged stay in Riyadh have led some wealthy Lebanese nationals to consider purchasing a second passport. “We can trace an upsurge in interest to about exactly 48 hours after the resignation,” Jeremy Savory, founder and CEO of Savory & Partners, told The Daily Star. “From the time [Hariri] resigned to the following business day, we had about 90-something inquiries.” Savory & Partners is just one firm catering to the niche crowd looking into “citizenship planning” along with career and family planning.