Citizenship for sale

New breed of 'economic citizens' hold multiple passports to manage wealth and maximise travel freedom, helped by a growing army of advisers.

Having multiple passports and citizenship that bears no relation to where you were born is something most people associates with James Bond or Jason Bourne. But these days it is no longer simply the stuff of spy stories.

Numerous countries have jumped on the bandwagon to offer "economic citizenship" programmes, opening doors for financially independent individuals to obtain second, third or more passports and acquire more nationalities -- as long as they can afford to pay.

"Citizenship by investment" programmes (CIP) have given rise to a new type of immigrant. Forget the image of destitute migrants fleeing war, poverty or human rights violations. Economic citizens have more than enough wealth.

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