The South African Rand, the Brazilian Real and the Ruble have all declined by 50 – 66 per cent over the past two years. A constantly weakening currency and especially the expectation of further declines, make it difficult to accumulate sufficient foreign exchange to meet investor-class criteria and encourages emigrants to expedite their departure. With South Africa facing a further downgrade to junk status later this year, prospective investors-class emigrants are getting restless as their Rand assets decline in value on almost a daily basis. The classic case in this regard is Zimbabwe a few years ago, when the currency declined to more than 1Trillion to 1US$, making it impossible for any remaining, previously wealthy, emigrants to leave, or worse to stay, as Zimbabwe spiraled into a hyperinflation equal to Germany in the 1930s.
Powerful 2nd passports are sought-after travel documents for thosedesperate for the security and mobility that they present. Anyone who has ever applied for a Schengen, Canadian or American visa knows what a painful, bureaucratic and expensive annoyance this can be. For the convenience, the mobility and the insurance it offers, there is a huge demand for ‘powerful’ passports that provide visa-free travel. The passports of most developed states and even those of some smaller stable countries eliminate many onerous visa restrictions and in this regard, any passport that allows visa-free travel to the Schengen zone is especially popular.