Billionaires are paying as much as $23 million a piece for the latest ultra-wealthy status symbol: Citizenship in a foreign country

  • Extremely wealthy people are paying as much as $23 million to purchase secondary citizenship in a foreign company, Bloomberg reports.
  • For some, a second passport is a status symbol. For others, it's about security and opportunity. 

Yachts, sports cars, and sprawling mansions have long been the status symbols of the ultra-wealthy, but in recent years, a new badge of affluence has emerged among the 1%.

Billionaires and millionaires are flocking to secure not just second homes in foreign countries  but citizenship as well. 

According to a new report by Bloomberg, wealthy people are shelling out as much as $23 million for citizenship in another country.  

RELATED: Take a look at the richest princesses in the world: 

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12 richest princesses in the world
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12 richest princesses in the world

12. Princess Beatrice of York

Net worth: $5 million
Country: England

Princess Beatrice is the older daughter of The Duke of York and Sarah, Duchess of York, and one of the Queen of England's grandchildren. Princess Beatrice is seventh in the line of succession to the throne. She is the first member of the royal family to complete the London Marathon and works full time in business.

With as wealthy as the queen is, it's no surprise to see many of her family members on this list.

11. Princess Eugenie of York

Net worth: $5 million
Country: England

Princess Eugenie is the younger daughter of The Duke of York and Sarah, Duchess of York, and is the Queen of England's granddaughter. She is eighth in line for the throne. Eugenie is engaged to nightclub manager Jack Brooksbank, and they are set to get married in what will surely be an expensive royal wedding in fall 2018, reports People.

10. Crown Princess Victoria

Net worth: $10 million
Country: Sweden

Victoria, Crown Princess of Sweden, is the oldest daughter of the King and Queen of Sweden. She will be Sweden's first female Head of State from the Bernadotte Dynasty. Victoria married Daniel Westling in 2010, and they have two children together.

9. Kate Middleton

Net worth: $10 million
Country: England

Princess Kate, also known as Catherine, Duchess of Cambridge, married Prince William in 2011 at Westminster Abbey. They have two children together, and she announced her pregnancy with her third child in September 2017. Before she was a royal, Middleton worked for her parents' party supply company.

8. Princess Madeleine

Net worth: $10 million
Country: Sweden

Princess Madeleine is the youngest daughter of the King and Queen of Sweden. She currently resides in London, where her husband Chris O'Neill works as the managing director of Wilton Payments Limited. Madeleine announced in August 2017 that she was pregnant with her third child, reports People.

7. Princess Sofia

Net worth: $10 million (based on Prince Carl Philip's net worth)
Country: Sweden

Princess Sofia is the wife of Prince Carl Philip. Sofia was well-known in Sweden even before she became a royal because of her career as a model and reality star. Sofia and Carl Philip have two children together.

6. Princess Anne

Net worth: $30 million
Country: England

Princess Anne is the only daughter of the Queen of England and is currently 12th in line to the throne. Anne, whose full title is Princess Royal, is married to Sir Timothy Laurence, a retired British naval officer. Anne competed in the Olympic Games in 1976 as an equestrian.

5. Caroline, Princess of Hanover

Net worth: $100 million
Country: Monaco

Caroline, Princess of Hanover, also known as Princess Caroline of Monaco, is the oldest daughter of Grace Kelly and Prince Rainier. Caroline studied philosophy at the Sorbonne in Paris, and she has been married three times. Her current husband is Prince Ernst August of Hanover.

4. Princess Stéphanie

Net worth: $100 million
Country: Monaco

Princess Stéphanie is the youngest child of Grace Kelly and Prince Rainier. She has been scrutinized for many of her romantic relationships, reports People, including her first marriage to her bodyguard Daniel Ducret, who was also already a father to a son, and a relationship with married elephant trainer Franco Knie. During the 80s, Stéphanie pursued careers as a model and a singer.

3. Princess Charlene

Net worth: $150 million
Country: Monaco

Charlene Wittstock is a former Olympic swimmer who met her husband Prince Albert during an international swim meet in Monaco. They got married in 2011. According to her official biography, her hobbies include surfing and hiking

2. Princess Gesine

Net worth: $1.05 billion
Country: Italy

Princess Gesine and her brother Prince Jonathan Doria Pamphilj were adopted from an orphanage as babies by an Italian princess, Orietta Doria Pamphilj, Principessa di Melfi, and were raised in the Palazzo Doria in Rome, according to Vanity Fair. In 2000, Gesine and Jonathan inherited the royal estate after their mother passed away.

1. Princess Charlotte

Net worth: $4.2 billion (based on value to U.K. economy)
Country: England

Princess Charlotte might not even be 3 years old, but she's already worth billions, Marie Claire U.K. reported. The daughter of Prince William and Kate Middleton was an influencer from the minute she was born: The GH Hurt & Sons shawl she was wrapped in during her first public appearance sold out immediately. And according to Brand Finance, her influence is only expected to grow as she gets older.

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There's but a handful of countries in the world that allow prospective residents to purchase citizenship outright. Among them is Austria, which commands an eye-popping $23 million for citizenship; Malta, which costs around $1 million; and Caribbean islands like Saint Lucia, Dominica, and Antigua and Barbuda, which charge the relatively cheaper $100,000 apiece.

For some, purchasing a secondary passport is just another way to flaunt extreme wealth. But for others, buying a multi-millionaire dollar citizenship is a security measure.

In an interview with Business Insider's Hillary Hoffower earlier this month, president of financial firm Apex Capital Partners, Nuri Katz, suggested that the second-passport trend is all about capitalizing on opportunity: "It provides a certain freedom that some citizens of some countries don't have; it's a freedom of movement."

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