International Law
Apr. 26, 2024
Millionaires diversify passports, creating new opportunities for US businesses
The number of millionaires moving across international borders has increased significantly in the last decade, with a projected 125,000 in 2024. This migration presents opportunities for American businesses, as it brings in capital and talent.
Christopher Richardson
President and General Counsel, BDV Solutions
Immigration
Benjamin McEuen
Legal Analyst, BDV Solutions
Internationally, investors are known for hedging their liabilities by diversifying their assets. In this spirit, a new worldwide trend is emerging among the world's millionaires: the diversification of passports. Perceiving growing instability worldwide, the wealthy seek to secure their assets and safety. Despite the common conceptions of apocalypse contingency plans being that millionaires build bunkers while billionaires build spaceships, data show that the wealthy ...