Rich Chinese weigh giving up citizenship for 2nd passports

Some wealthy Chinese families are now weighing whether to give up their Chinese citizenship to hold a second passport, CNBC reported on 28 October 2026. China does not recognise dual nationality, so a Chinese national who takes another citizenship must give up their Chinese passport. Interest has grown since July 2026, when Beijing brought in measures aimed at offshore trusts, with certain income and transactions possibly taxed at 20%.

Advisers told CNBC that more families have moved from talking about the idea to planning it. They also warned that giving up Chinese nationality does not wipe out past tax bills, and that those most ready to take the step tend to have little business left on the mainland. Interest in a passport portfolio does not always lead to a full move.

Caribbean citizenship by investment, such as Antigua and Barbuda, is the main choice for those who want a second passport; as of October 2026 Antigua's National Development Fund starts at US$230,000 plus a US$10,000 government processing fee. Those who want to keep Chinese nationality are looking at residence instead: Portugal's golden visa through a EUR 500,000 fund, Italy's investor visa from EUR 250,000 and Hungary's guest investor route through a EUR 250,000 property fund, all as of October 2026. Singapore, Australia and Malaysia are also cited.