Wealthy people around the world like to have options, and investor migration to different countries for residency, wealth planning or tax purposes is accelerating at an unprecedented rate.
In searching for a better quality of life for themselves and their families, or for a new location to do business to benefit from global opportunities, Sylvie Ma, managing partner of Henley & Partners in Vietnam, says HNW individuals often see other countries as offering a better living environment in terms of climate, personal security, healthcare and transport systems, among other factors.
Many wealthy Vietnamese are also increasingly attracted to the concept of relocating to get access to higher-quality education for the sake of their children, she adds.
Further, and an ever-popular driver for looking at other ‘safer’ countries, says Ma, is the search for personal security. This can also be in terms of more privacy.
Meanwhile, she adds that relocating is often the only way to reduce the tax burden and regulatory restrictions – and in a legal way.
In addition to a new permanent residency, wealthy individuals are also looking for citizenship in some countries. Getting the passport of a particular country can be appealing to people from Vietnam, explains Ma, in opening up travel to countries previously restricted by time-consuming visa-application processes.
Other benefits include freedom to retire in a ‘safe’ country without worrying about changing immigration laws, and flexibility of movement when some nationals are overly-exposed to physical or financial threats.