A foreign passport is the latest status symbol, and rich people are spending up to $200,000 to buy it
|07/14/2018||Posted by BusinessMediaguide.Com under General World News||
- Rich people are buying second (or third) passports via Citizenship Investment Programs (CIPs), which allow them to invest in a country in exchange for citizenship.
- Depending on the country, a CIP can cost anywhere from $100,000 to more than $2 million.
- Having multiple passports offers advantages, but is largely seen as a status symbol among rich people — one expert calls it “the black American Express syndrome.”
While some people take pride in their stamp collection, some high-net-worth individuals bask in the glory of a different type of collection: passports.
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