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Table of Contents

The geopolitical turbulence of 2026 has prompted a marked shift in how Gulf-based HNW entrepreneurs think about personal and family mobility. Second passport enquiries have doubled; the reasons are worth understanding.

What this article covers:

  • How MENA venture sentiment has shifted since the Iran-Gulf conflict
  • Why Gulf entrepreneurs are pursuing backup residencies at record rates
  • Which programmes — Portugal, Italy, Grenada — are seeing the most interest
  • How to frame this as jurisdictional diversification, not relocation

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A 22% Drop in Funding and a Doubling in Passport Enquiries

MENA venture capital funding fell 22% in H1 2026, directly linked to uncertainty generated by the Iran-Gulf conflict. The more telling data point sits with advisory firms: enquiries for second passports and backup residencies among UAE-based HNW clients roughly doubled, rising from 7% to 15% of one adviser's pipeline. Qatar-based enquiries quadrupled, and one in five Saudi clients raised security concerns in conversations with their advisers. Geopolitical risk is converting latent interest in citizenship by investment and residency by investment into active mandates.

Jurisdictional Diversification, Not Relocation

Experts are clear this surge represents portfolio thinking applied to personal mobility rather than any intent to abandon Gulf operations. Favoured destinations — Portugal, Italy, Greece, and Grenada for Caribbean CBI — are selected for their complementarity with existing business arrangements. Gulf governments themselves continue competing for mobile capital through their own golden visa schemes, which underscores the wider normalisation of multi-jurisdictional planning. For clients in the region, this is not a defensive move; it is a structural upgrade to their personal balance sheet.

If you are based in the Gulf and want to stress-test your current jurisdictional exposure, Marlow Bray's advisory team can help you assess the options. Reach out to arrange a mobility strategy consultation.