According to the latest data from Henley & Partners, in the first three months of 2020, the number of people applying for passports increased by 42% year-on-year, and the number of consultations increased by 25%. Now, as the global pandemic spreads, many countries are closing their borders and continuously strengthening entry and exit management, restricting the movement of some individuals who have the need to go out.

However, under these circumstances, many high-net-worth individuals are spending lavishly and have begun a new investment identity to ensure that they and their families can go to a country they believe is free of the virus and has ample sunshine, which can serve as a "sanctuary" at the first sign of another outbreak.

In times of crisis, global billionaires are not competing for wealth but for identity, as identity has become their passport to eliminate restrictions and travel freely.

According to the "2019 Wealth Report" released by Knight Frank:

In 2019, there were approximately 198,000 ultra-high-net-worth individuals (those with a net worth exceeding $30 million) in the world. Among them, the percentage of ultra-high-net-worth individuals holding a second citizenship has increased from 34% in August 2018 to 36% now, totaling over 70,000 individuals. Additionally, 29% are considering obtaining a second citizenship, and 26% are considering obtaining permanent residency.

As a result, the wealthy are leaving each country to varying degrees. The ranking of wealthy individuals leaving over the past decade is as follows:1,Mainland China: 16,000;2,India: 7,000.3,Russia: 5,500;4,Hong Kong, China: 4,200;5,Turkey: 2,100;6,United Kingdom: 2,000;7,France: 1,800;8,Brazil: 1,400;9,Saudi Arabia: 1,200;10,Indonesia: 1,000. Each country's situation is different; although there is a significant outflow of wealthy individuals, the reasons vary by country. China ranks first in the outflow of wealthy individuals, but an important reason is that China has a strong "wealth creation ability"—too many new wealthy individuals are emerging each year. According to the "Hurun Report," in 2020, there were 1.8 million high-net-worth families in China with investable assets of 6 million RMB, and 54,600 families with investable assets of 30 million USD.

Knight Frank predicts that the number of high-net-worth individuals will increase to approximately 250,000 in the next five years. The overall trend of immigration will continue to rise.

The identities obtained through immigration can be categorized into:three categories: visa, permanent residency, and citizenship. Among these, the most favored by domestic applicants is obtaining permanent residency in the immigration country, which is the green card of that country, while still holding Chinese nationality and passport. The entire family's focus on life, career, and social relationships remains in China, and aside from having an additional identity, life does not change significantly.

If you want to immigrate, do not waver.

Many potential immigrants are wavering in their intentions due to the ongoing development of the pandemic, but has the pandemic affected immigration? First, the starting point for immigration has not changed; in fact, driven by the pandemic, the willingness to immigrate has become even stronger:

1.Children's education: More than 85% of immigrants are seeking higher quality education for their children. Although the domestic education level is continuously improving, with prestigious institutions like Peking University and Tsinghua University being filled with talent, these higher education institutions cannot meet their needs. They want their children to study abroad and see the outside world. Therefore, they are willing to spend a lot of money to send their children abroad for education. Immigration is one of the best ways to facilitate their children's education. Similarly, participating in domestic overseas Chinese student or international student joint examinations is also a shortcut.

2.Having an additional identity means more choices: paving the way for children's future development, internationalization is still the trend. It also serves as a Plan B for emergencies later on.

3.Asset allocation needs: Asset allocation requires identity first. It is essential to consider what kind of identity to use for cross-border asset allocation and tax planning, such as using overseas trusts for asset protection and wealth inheritance.

4.Business development needs: Global layout, overseas listing, can reasonably avoid CRS.

It is often said in the immigration community, "If you delay for three months, you will wait for a year," reminding applicants to reasonably arrange their timelines. If you only think of immigration when an urgent matter arises, it will be too late.

A large amount of data indicates that immigration is a global phenomenon, not limited to China; other countries are also experiencing "population migration." The flow of global population is dynamic and will become more frequent.

Immigration, broadly speaking, is one of the paths to national rejuvenation and development; narrowly speaking, it is a way for individuals to pursue a better life or find a more suitable living environment.

As long as immigration is done through legal and compliant means, others' choices should be respected, unless it involves fabricating facts to seek "political asylum" and smear the motherland. Illegal immigration should be strongly condemned both domestically and internationally.