With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
The uber-wealthy are buying global mobility with golden passports
Certain citizenships - and passports - make traveling across borders an easier task.
Listen
34:16
The country of which a person is a citizen dramatically affects their ability to travel across the world.
That’s why the uber-wealthy from nations with less powerful passports are buying “citizenships by investment” for a leg up on their fellow travelers.
Here’s more from Vox:
These passports, often issued by nations particularly welcoming of cash, can be a kind of collector’s item, a status symbol luxury good to show off at bougie soirees. It also cracks open the door to a possible escape, should things go south for the holder in their personal life or in their country of origin.
Sponsored message
All it requires is money — anywhere from $100,000 on the low end to more than $1 million on the high end, invested in property or a public good — plus background checks and a short wait for approval. Called “golden” passports, they don’t even actually require the wealthy to reside in the places where they hold citizenship.
We talk to the author of the new book, “The Golden Passport: Global Mobility for Millionaires,” about citizenship-by-investment programs and why many of us, in her words, should “check [our] passport privilege.”
Copyright 2023 WAMU 88.5. To see more, visit WAMU 88.5. 9(MDA1OTI3MjQ5MDEyODUwMTE2MzM1YzNmZA004))
At LAist, we focus on what matters to our community: clear, fair, and transparent reporting that helps you make decisions with confidence and keeps powerful institutions accountable.
Your support for independent local news is critical. With federal funding for public media gone, LAist faces a $1.7 million yearly shortfall. Speaking frankly, how much reader support we receive now will determine the strength of this reliable source of local information now and for years to come.
This work is only possible with community support. Every investigation, service guide, and story is made possible by people like you who believe that local news is a public good and that everyone deserves access to trustworthy local information.
That’s why we’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Thank you for understanding how essential it is to have an informed community and standing up for free press.
Your support for independent local news is critical. With federal funding for public media gone, LAist faces a $1.7 million yearly shortfall. Speaking frankly, how much reader support we receive now will determine the strength of this reliable source of local information now and for years to come.
This work is only possible with community support. Every investigation, service guide, and story is made possible by people like you who believe that local news is a public good and that everyone deserves access to trustworthy local information.
That’s why we’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Thank you for understanding how essential it is to have an informed community and standing up for free press.
Senior Vice President News, Editor in Chief
