Luxury is no longer confined to material possessions; it has evolved into an artisanal blend of experiences, values, and aspirations, and as we step into 2023 and beyond, five prevailing luxury trends have emerged.
These trends are quiet luxury, venturing off the beaten path, philanthropy, family significance, and security and, remarkably, Citizenship by Investment (CBI) programmes seamlessly encapsulate each of these trends, redefining the very essence of experiential luxury.
We spoke to Nick Stevens, CEO of NTL Trust, for his advice on how to navigate us through experiential luxury of citizenship by investment programmes.
Quiet luxury
In an era where ostentation often takes a back seat to subtlety, a second citizenship through a CBI programme epitomises quiet luxury. It allows individuals to unlock a world of new experiences while retaining a sense of discretion. The privilege of seamless travel across borders, access to diverse cultures, and the ownership of space and time are all encapsulated within this discreet yet powerful flex. As they traverse the globe with their newfound status, individuals are virtually invisible, effortlessly blending into the tapestry of international travel.
Philanthropy
Citizenship by Investment programmes transcend the realm of personal gain and extend to philanthropic endeavors. These programmes often contribute to the sustainable economic development of their host countries, stimulating local economies and fostering growth.
Nick explains: “Take, for instance, the University of West Indies in Antigua and Barbuda, which is tied with the UWI fund. Donations to this fund help finance one of the best universities in the Caribbean and, as a bonus, CBI programmes clients get a one year scholarship for one family member.
“If no-one in the family is of university age, this bursary can be donated to a deserving local student. This philanthropic dimension aligns with the modern luxury consumer’s inclination towards making meaningful contributions and leaving a positive impact on the world.”
As the world is turning more and more towards holistic business practices, donations and funds that help the economy and infrastructure of Caribbean islands are essential for global economic equality.
Next generation
As luxury transcends generations, the emphasis on family legacy and ties has become more pronounced. According to recent studies, Gen X and Gen Alpha are becoming customers of luxury brands three times faster than previous generations. Social media, entrepreneurship and crypto currencies are just some of the drivers behind the increasing number of wealthy individuals under the age of 25.
CBI programmes stand out as lifelong investments that extend across generations. These programmes offer families the opportunity to solidify their bonds and secure their legacies while immersing themselves in the luxury of international mobility and cultural exploration. The Antigua and Barbuda programme offered by NTL Trust covers up to six family members with a single investment amount, providing lifelong citizenships for the whole family and the possibility of expanding family investments and legacy.
Venturing off the beaten path
Hidden paradises, far removed from the conventional tourist trails, have gained allure among the affluent. Destinations like Dominica’s Secret Bay exemplify this trend by offering exclusive luxury retreats nestled in pristine nature. Sustainable resort living in one of the most beautiful locations in the whole Caribbean region is the new IT place. Dominica’s citizenship programme is providing HNWI clientele with the opportunity to establish safe havens in secluded corners of the world, far from the bustling crowds, while indulging in the luxury of privacy and exclusivity. Second citizenship programmes are often a privacy ticket for celebrities who can enjoy freedom from fame in far destinations, away from urban settings.
Security
In an age rife with uncertainty, security has become the cornerstone of modern luxury. A second citizenship serves as an “intangible shield, guarding individuals and their families against unforeseen volatilities,” says Nick. This invisible armour provides a sense of assurance and stability, allowing them to navigate a complex world with confidence.
Final thoughts
In a world where luxury is evolving beyond the confines of materialism, Citizenship by Investment programmes stand as the epitome of experiential luxury. By intertwining seamlessly with the luxury trends of quiet indulgence, philanthropic spirit, family cohesion, exclusive exploration, and enhanced security, these programmes have redefined the concept of luxury itself. The acquisition of a second citizenship isn’t just a transaction; it’s an investment in a lifestyle that encapsulates the true essence of luxury in 2023 and beyond.
NTL Trust is a holistic, luxury clientele oriented, trust and family office company with almost 30 years of experience in the industry. They can answer any question about Citizenship by Investment programmes. For more information, visit ntltrust.com.
All imagery used in this article credit: NTL Trust
