Tuesday, May 5, 2020

The Ultra-Rich Are Now Buying ‘Pandemic Passports’ So They Can Move to Safer Countries

Applications for new nationalities have increased 42 percent since last year, according to citizenship broker Henley & Partners. 


By John Arlidge

Wealthy travelers have been playing a game of “beat the ban” as countries have closed their borders to try to fight the Covid-19 pandemic. Getting it wrong can be very expensive, as one British couple recently learned. The pair bought two £10,000 ($12,000) first-class tickets to escape from London to Barbados, but they were so worried that British Airways would axe its service that they paid £100,00 ($125,000) to charter a private jet instead. (BA carried on flying.)

Now the super-rich are buying the ultimate insurance policy to make sure they will be able to travel to whatever virus-free, sunny bolt-hole they choose, if a second spike in Covid-19 infections triggers another global lockdown. The world’s wealthiest are snapping up multiple citizenships in countries around the world.  Read more >>