Why the global elite are collecting citizenships

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• 00:15

  The Economist.

• 00:22

  Life in Dubai was once blissful for rich expats.

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  No income tax, no rain, no bother.

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  Wealth is on the move and it's heading to the Gulf.

• 00:31

  Dubai and Abu Dhabi are fast becoming the new havens for global capital,

• 00:36

  drawn by privacy, flexibility, and a far lighter regulatory touch.

• 00:42

  But that was before America's excursion in Iran brought the risk of incoming missiles and drones.

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  Warning from a source that the US consulate in Dubai

• 00:52

  has reportedly been hit by a suspected drone and is currently on fire.

• 00:57

  Now, many foreign residents have scattered, finding new homes in safer parts of the globe.

• 01:03

  But it's not just Dubai that the world's wealthy are leaving,

• 01:07

  and a booming industry of advisors has emerged to help them.

• 01:10

  I'm here in Phnom Penh, Cambodia and I just picked up my shiny new Cambodian passport.

• 01:16

  And today, I'm going to tell you what the process looked like

• 01:18

  and why I chose to be Cambodian.

• 01:22

  So today, why are the rich on the move?

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  And where are they headed?

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  You're listening to Money Talks from the Economist,

• 01:38

  our weekly podcast on the markets, the economy, and the world of business.

• 01:42

  In Washington DC, I'm Alice Fulwood.

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