Consulting company CS Global Partners has presented a ranking of the best citizenships for wealthy people. The top 3 included Switzerland, Denmark and Finland. Russia took 82nd place, losing to Kazakhstan and Ukraine.
The rating was based on interviews and focus groups with residents of different countries and citizenship experts, as well as a survey of more than 500 wealthy investors (HNWI). All countries were evaluated according to five criteria – security, economic opportunities, quality of life, global mobility, financial freedom.
Russia’s worst performer is in the security category, where it shares 153rd place with Pakistan. Russia ranked 38th in “economic opportunities”, 49th in quality of life, 56th in “global mobility”, and 76th in financial freedoms.
The authors of the rating write that in 2020, Russian President Vladimir Putin “was granted the right to seek re-election, … which made the transition from autocracy to dictatorship in the country tangible.” “Outside of Russia, it is widely believed that Putin seeks to eliminate opponents, suppress all dissent, and restrict independent media and freedom of speech,” the report says.
Experts also refer to the international organization World Justice Project, according to which, “the Russian government has more influence on the criminal justice system than almost any other country.” The report states that a third of the Russian budget is spent on security and defense inside the country.
“The financial crisis of 2014 led to a drop in the country’s GDP by almost 30%, and the Russian ruble has not yet recovered. As incomes fall and food prices rise, Russia’s future looks bleak, and as repression escalates, many of those who have it are exploring options that could give them a better life outside their homeland.
The report also draws attention to the fact that Russia, being one of the five countries with the largest methane emissions, has not joined the declaration to limit such emissions (Global Methane Pledge, “Global Methane Commitment”), which has already been signed by more than 100 countries. This agreement calls for a 30% reduction in methane emissions by 2030.
The authors of the study write that overall, the US, China and Russia are “among the most powerful countries in terms of economic productivity” that have had a global impact over the past decades. Their advantage, according to experts, is “in a large economy and military power.” “However, all three countries have faced political instability, social unrest and a poor response to the COVID-19 pandemic, causing many wealthy investors to move abroad in search of a more prosperous future,” summed up CS Global Partners.
The top 10 rankings included:
- Switzerland,
- Denmark,
- Finland,
- Norway,
- Sweden,
- New Zealand,
- Netherlands,
- Japan,
- Singapore,
- Germany.
The US ranked 20th. Russia was also surpassed in the ranking by Moldova, which took 74th place, China (76th), Kazakhstan (78th), Armenia (79th), Ukraine (80th).
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