Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, August 20 2019 - 19:00
Henley & Partners: Rising Anxiety Over Impact of No-Deal Brexit on Britain's Passport Power
LONDON, August 20, 2019, /PRNewswire-AsiaNet/--

With just 10 weeks to go until the 31 October Brexit deadline, Brits are 
becoming increasingly concerned about the potential decline in their passport 
power. As millions return from their visa-free summer holidays abroad, and the 
more than five million British passport holders living permanently outside the 
UK anxiously consider their alternative citizenship options, there is a growing 
acknowledgement that the British passport may soon not be what it used to be in 
terms of global mobility and settlement freedom. 

"Hard" Brexit, "soft" Brexit, no deal, or even a second referendum all could 
result in radically different and largely unpredictable implications for 
British passport holders, from the ease of doing business and travelling 
abroad, to the ability to live, work, and study anywhere in the EU. 

Over the past 14 years, the UK has consistently held one of the top five places 
on the Henley Passport Index 
( However, with its exit 
from the EU now imminent, coupled with ongoing confusion around the terms of 
its departure, the UK's once-strong position looks increasingly uncertain, with 
the British passport falling out of the top five on the global 
.pdf) for the first time in July this year. 

Dr. Juerg Steffen 
(, Chief 
Executive Officer of investment migration firm Henley & 
Partners(, says they have seen a 200% increase in 
British nationals applying for residence 
( and 
citizenship-by-investment programs 
( over the past two years. 
"We have seen a significant spike recently in enquiries about investment 
migration options from both Brits as well as Hong Kong 
high-net-worth-individuals (HNWIs). As most private wealth managers will tell 
you, affluence alone is not a guarantee of personal and financial freedom and 
security. This might not have been intuitive for British HNWIs who have thus 
far enjoyed the luxury of possessing bulletproof citizenship, but for HNWIs 
from less stable jurisdictions, the idea of managing your risks and creating 
opportunity through alternative residence and citizenship is well understood."

For British HNWIs without the ancestral connections to join the well-documented 
spike in German, Irish, and other European citizenship applications, there are 
numerous options available. For an investment of between EUR 1 million and EUR 
2 million, Malta( and 
Cyprus ( offer the 
most popular citizenship-by-investment programs in the EU at present. Along 
with the majority of other EU member states, they both also offer 
residence-by-investment at a lower price point. The Portugal Golden Residence 
Permit Program 
( and 
the Greece Golden Visa Program 
(, where the minimum 
investment in property begins at EUR 350,000 and EUR 250,000, respectively, are 
also increasingly popular and include the opportunity to apply for full 
citizenship after five years. 

Dr. Steffen points out that many residence- and citizenship-by-investment 
programs around the world include this real estate option that enables 
investors to include a property purchase in their application. "With the real 
estate market in Europe currently flourishing, acquiring property-linked 
citizenship or residence is a safe and sensible investment. Investment 
migration programs have an inbuilt volatility hedge, in that there is a wider 
value equation that is separate to the standard real estate metrics — 
everything that comes with enhanced mobility. It remains an affordable and 
viable means of mitigating the risk factors on every side of the Brexit debate."

Sarah Nicklin 
Senior Group Public Relations Manager

SOURCE: Henley and Partners