Gizane Campos 0:03

Hello there, welcome back to Be Global, the podcast where we explore the ideas shaping how wealth, freedom, and opportunity intersect in today's world. Today's episode is inspired by the latest briefing from Global Citizen Solutions Intelligence Unit led by Dr. Laura Madrid Satoreto. Her latest briefing approaches a growing trend, which is global wealth mobility. And what the big takeaway is, you might be asking yourself, in a world that is more unpredictable than ever, having the ability to move yourself, your money, and your life is fast becoming the ultimate form of resilience. So I'd like to invite you to dig into the power of global wealth mobility in an unstable world, which is the name of the briefing, and find out the recent discoveries from Global Citizen Solution. But first things first, Dr. Laura, can you enlighten our listeners with some context about Global Intelligence Unit and your role?

SPEAKER_01 1:22

Hello, first of all, I want to thank you for having me again in the podcast. And of course, uh, so we created the Global Intelligence Unit, a Global Citizen Solution, I think um two years ago, to create and research on global mobility in general. Everything related to enhancing mobility, quality of life, investment opportunities. We produce uh data-driven studies and publish information about uh global mobility and the protection of wealth. You can have a look in our website at Global Citizen Solutions uh website and see the um the latest uh research that we publish in the Global Intelligence Unit.

Gizane Campos 2:09

Thanks, Laura. This is a very good lowdown. So now I think what we need to do is to dig into the power of global wealth mobility, shall we? First off, what is wealth mobility, Laura, and why is it suddenly so relevant?

SPEAKER_01 2:27

Let's say that in very simple terms, wealth mobility is the ability to move not just your capital, but your entire financial life, your residency, business, your family across borders when needed. It became crystal clear during the pandemic. Billionaires were stuck, access to assets was blocked, travel was impossible, and having a second passport or legal right to live elsewhere went from nice to have to absolutely essential. And in the end, you might never use for safety reasons, but still you can use it to easily travel and make business in different jurisdictions. That's why I say it's a much better investment than a life insurance, for instance, that you only use when something bad happens.

Gizane Campos 3:14

Laura, that is a very good point. It is not only an option, but nearly a necessity to avoid risks and protecting assets in this ever volatile world. Um, thank you very much. Now I'd like to move on from the findings in the Global Intelligence Unit briefing. Is this only a concern for people from politically unstable places or is it a general concern?

SPEAKER_01 3:47

The idea that this is a concern from places with uh uh you know political instability or uh difficulties, uh, this is a node assumption. Now it's people from all over the world, including more stable countries like the US and Germany, Canada, who are investing in mobility. And you can ask yourself why? Well, the truth is instability is everywhere. Trust in long-term political and financial stability is fading all over the world. When civil, political, and social rights are in danger, it's important to have a plan B to protect all dimensions of your life, security, assets, and from rising taxes to civil unrest, people are hedging against what might happen at home. It's not just about escaping chaos, it's about creating options and being safe elsewhere.

Gizane Campos 4:39

Oh Laura, this is such a good point, and I think that's a beautiful um way to put it. It's not just about escaping chaos, you said, but it's about creating options and being safe. Um that is basically um it sums everything up. So now let's move on to the kind of risks that are potentially driving this trend towards international uh diversification. Is this specified in the briefing?

SPEAKER_01 5:09

Yes, it is, Yuzane, indeed. The briefing highlights some specific categories: geopolitical, financial, regulatory, and even environmental risks.

Gizane Campos 5:19

Oh, okay. So I see these five um uh categories will encompass all the risks related to international diversification, which is great. But shall we cover first the geopolitical and the financial risk? Because I think they're all they're all very important, but I'm particularly interested in events that could shape personal security.

SPEAKER_01 5:42

Yes. Uh so we start with geopolitical risks. Uh they encompass war, sanctions, and government crackdowns that might freeze or seize assets. So beyond events that threaten life and personal security that are already uh super relevant, people need to protect their investment from arbitrary decisions. Then we have financial risks, everything related to banks and de-risking by closing accounts, denying services, and refusing to onboard new clients just because of their passport or nationality. But let me add in the spot here the important topic of regulatory risks. In other words, these are tax law changes or capital controls that trap your wealth. And on a more positive perspective, you can also take advantage of tax optimization strategies when you have a residency and citizenship portfolio choosing to invest in countries that offer territorial or zero tax frameworks. So you're not be charged in all the income that comes from abroad when you leave or reside in those countries. But taxes are always tricky and complex. So always seek assistance of specialized consultants for that.

Gizane Campos 6:53

Yeah, I guess, yeah. Taxes are definitely always tricky and uh but something unavoidable. Um, okay, so we talked about taxes, we talked about geopolitical risk, we talk about financial risk, but um now, Flora, in face of uh climate change, I guess the environmental risk has become a decisive factor for investment and asset protection in general. Is that correct?

SPEAKER_01 7:19

It is. You know, just before we started this podcast, we were talking about this heat wave that is um now in Europe, and it's no longer surprising that climate change has become a defining uh factor for in financial security. For individuals tied to just one country, the risks are even greater. So relying on a single residency or nationality means betting everything on one climate vulnerable location. And nowadays, every single spot of the world is vulnerable to effects or consequences of climate change. If one nation faces extreme weather, rising sea levels, or economic instability triggered by environmental crisis, your wealth, property, and even personal safety could be in jeopardy. This isn't a distance threat. It's happening now. Wildfires, hurricanes, droughts, and floods are already reshaping real estate markets, insurance costs, and job instability. Without diversification, you're exposed to a dangerous concentration risk. So without diversification, you are exposed to a dangerous concentration risk. The impact of climate change goes beyond worsening living conditions. It erodes investment opportunities and asset protection in general. The bottom line is when your assets and even your identity are tied to just one country, you are vulnerable to every single shift.

Gizane Campos 8:48

Oh wow, Laura, um, that's really eye-opening. And such a um a reality, uh common reality that we are living in this day and age. Um so, yes, so thank you. But I think it would be useful for our listeners if you could give us a more concrete example of what their vulnerability looks like.

SPEAKER_01 9:12

Sure. Um, let's say think of wealthy individuals in Russia or Venezuela. One day they were global citizens, the next sanctions or financial restrictions cut them off. Their bank accounts were frozen, their real estate abroad was under threat. Even if they hadn't done anything wrong, they were locked out because of their nationality. That's why diversification, both financial and geographical, isn't just smart, it's protective. Also, high net worth individuals during the pandemic. Uh, citizens and residents who were able to go back to their countries of origin, get access to treatment and safety. Migrants in general didn't have this opportunity. But if you diversify your residency and citizenship portfolio, you reduce the risks as you have more options when you need to return home, because essentially you have more homes.

Gizane Campos 10:10

Okay, Laura, understood. But we covered the importance of this diversification. However, I am still a bit unclear on how are high net worth individuals responding to this uncertainty. Um I guess my question is: how are they protecting their assets?

SPEAKER_01 10:35

Well, so they are increasingly building what we call mobility portfolios. This includes second citizenships, residence permits, foreign bank accounts, and assets in multiple countries. Many are investing through residency or citizenship by investment programs in places like Portugal, Malta, Greece, Singapore, and the UAE. These options provide personal safety, better tax planning, and access to global markets if they want to invest in different jurisdictions.

Gizane Campos 11:07

Okay, that's a very good point. I like that. So I know uh Dr. Laura keep asking for examples, but I think they are a great way to fix any new any new thing that we learn. So, are you able to give me a real life example on what can happen if I future-proof my assets in face of these risks you have shared with us?

SPEAKER_01 11:29

So you're right, you know, examples they always clarify abstract concepts. Let's say take a Miami real estate investor who diversified into Greek golden visa after repeated hurricane damage, or a Jakarta Tech entrepreneur who established a Singapore base for both business continuity and personal security. You keep your original nationality and combine with residency or citizenship rights elsewhere. And you can actually combine more than two options of nationality or residency rights according to the compatibility of such legal rights. And while citizenship by investment programs offer the most straightforward path, individuals are also leveraging digital nomad visas, passive income or retiree visas as residency options, and even ancestral citizenship claims to build flexibility.

Gizane Campos 12:24

Okay, okay, that's clear. Um, I think I grasped the concept. But now I wonder, Laura, how financial institutions play into all of this?

SPEAKER_01 12:41

At the end of the day, regulations are becoming stricter everywhere. As I mentioned previously, financial risks are one of one dimension of international mobility limitation. In this sense, financial institutions take a big part of the puzzle. In today's world of hypercompliance, banks are increasingly risk averse. Even without being legally required to, they'll often close accounts for clients from problematic regions, for instance. This has happened to individuals from Russia, Iran, Hong Kong, Lebanon, Venezuela, even wealthy clients from China, for instance. So high net worth individuals are spreading their banking relationships across several jurisdictions and sometimes just to keep access to basic services like uh retrawing money or uh transferring money from one account to another.

Gizane Campos 13:35

Okay, I see. I guess so. It is um high net worth individuals driving the demand and the banking institutions kind of complying with their work of um supplying for their wealth, wealthy clients. So is that what you're saying? Okay, yeah, yeah. Now back to the briefing. I mean, we've been on the briefing all the time. I'm really sorry. I'm gonna rephrase that. Um, yes, great. Okay. Now, um after reading the briefing and uh and also um uh having a further clarification from you now, I get the the feeling that this strategy is not only about avoiding risks, but I think there's also a growth angle. Is this the case?

SPEAKER_01 14:23

Yes, uh it's a very good point, Jusen. I'd say both. Uh by diversifying internationally, investors can protect their assets and access fast-growing markets or industries. Uh, think uh tech in Southeast Asia, for instance, real estate in southern Europe, like Greek and Malta, or renewable energy in Scandinavia. This isn't isn't just a defensive move, it's also about seizing opportunity. It's about playing offense and defense at the same time. But beyond that, let's say you you are considering legacy planning. Transferring assets to jurisdictions with zero or territorial tax regimes can heavily reduce tax burdens and enhance preservation of wealth for future generations. So it's also a smart move if you're thinking about succession planning.

Gizane Campos 15:16

Absolutely. I have to agree with you, Laura. And also, I love um your football analogy. You know, it's about playing offense and defense at the same time. And I'd like to say that we can use this strategy across all sectors of life, not only financial. And just to wrap up, Laura, what is the big message for listeners who might be thinking about how to future-proof their own wealth? So the message is clear.

SPEAKER_01 15:46

Don't put all your trust or your assets on one basket. The world is too interconnected and too volatile for that. Global mobility isn't just uh for ultra-wealthy anymore. Investors, digital nomads, and even retirees can take advantage of being internationally mobile. It's indeed becoming a critical part of long-term planning for anyone who values freedom, security, and opportunity. Whether it's a second passport, a home abroad, or a globally balanced investment portfolio, the time to build resilience is before you need it. And to add to this point, we have to recognize that the industry is evolving rapidly. We have a head of institutional clients relations at Global Citizen Solutions, John Pacheco, and being in contact with wealth uh managers and family offices in London, he heard from them that clients are increasingly asking and inquiring about uh residency and citizenship portfolios or mobility portfolios. People are getting more knowledge about this topic and requiring their advisors to include this uh investment option in their in their portfolios.

Gizane Campos 17:09

This is great. Laura, you gave me a great idea. I think for the next podcast, I should bring Joao and Pacheco. Um, yes, it should be. Yeah, so it would be nice to hear from uh the clients what are um what are the their needs, what are their inquiries, and uh, and then we can map um how uh they're thinking about um the globalization uh and future-proofing their assets and uh and minimizing risks. Um great. But again, Laura, thank you very much. I'd like to say to share with our listeners that this briefing um prepared by Laura and her teams uh showcases that wealth mobility is about control. In a world where borders are can close, right, economies can turn, and uh and we've seen it, governments can change overnight. There is an advantage for those who can move and move fast in the face of those adversities. So I highly recommend you all to read the briefing, and it's hosted in the Global Citizen Solutions website under the Global Intelligence Units app. Laura, thanks again for joining us for this important conversation. And if this conversation has sparked questions or ideas about your own global strategy, don't hesitate to reach out or dive deeper into the full briefing from the Global Intelligence Unit. Um that's it from me now. Bye, and I look forward to have you um in our next podcast. Bye, Laura. Bye, thank you very much. You're welcome.

SPEAKER_01 19:05

See you soon.