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A growing number of affluent San Franciscans are adding something new to their balance sheets: a second country. What was once the domain of ultra-high-net-worth dynasties has moved into the mainstream of wealth planning, according to Latitude Group, which advises high net worth clients on global residency programs.
“Historically, residence and citizenship programs were primarily used by ultra-high-net-worth families and multi-generational family offices focused on legacy structuring and succession planning,” said Chris Willis, a Managing Partner at Latitude. “That segment remains very active today. Family offices continue to view alternative residence and citizenship as a structural component of long-term risk management, particularly in light of geopolitical volatility.”
But today’s demand looks different. As a result, Latitude is hosting a public event locally in San Francisco on March 12 in response to the growing interest from those looking to invest in global residency. The firm’s experts will host a discussion on what goes into a golden visa or citizenship by investment program and how to pursue one.
“Interest spans first-generation wealth creators, entrepreneurs, professionals, retirees, and families who are thinking about long-term security and opportunity for their children,” Willis said. “This is no longer a niche strategy reserved for the ultra-wealthy. It has become increasingly mainstream among affluent Americans.”