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Crown Prince of Saudi Arabia Unveils Four New Special Economic Zones with Exclusive Advantages

Saudi Arabia's Crown Prince, Mohammed bin Salman, has unveiled four new special economic zones in the country to enhance its global appeal as an investment destination, as per reports from the state news agency SPA. These zones offer a range of advantages to companies, including competitive corporate tax rates, exemption from customs duties on imports, machinery, raw materials, and production inputs, as well as the flexibility to hire skilled professionals from anywhere worldwide. Foreign investors will have complete ownership of their businesses within these zones situated in Riyadh, Jazan, Ras al-Khair, and King Abdullah Economic City.   Prince Mohammed stated,...

Essential Information for Applying to Austria's Residence by Investment Programs

Essential Information for Applying to Austria's Residence by Investment Programs   Austria has witnessed a surge in immigration interest, with a threefold increase in residency permit applications over the past five years. The Golden Visa, an investment-based residency visa, has been specifically designed to attract affluent foreign individuals seeking European opportunities and the freedom to travel within the Schengen zone. Each year, only 300 individuals are selected for Austria's Residency by Investment program. When applying for this program, consider the following key factors: Active Investment Requirement: Unlike some other European countries like Malta, Spain, and Portugal, Austria does not offer...

IMF Report: Decline in US Foreign Direct Investment to China, while India Benefits

India has emerged as the third-largest recipient of foreign direct investment (FDI) from the United States (US) between 2015 and 2020, experiencing a 20% increase in new investments. In contrast, FDI from the US to China decreased by 40% between 2020 and 2022 compared to the previous five-year period.   According to a recent paper by the International Monetary Fund (IMF) on the fragmentation of the global economy, US FDI flows to emerging European countries increased by 19.4%, to the rest of the Americas by 9.2%, and to the rest of Asia (excluding China) by 2.3%.   In contrast, FDI...

Revocation of 'Golden Passports' for Three Investors by Cabinet

Three investors had their Cypriot citizenships revoked. Additionally, the passports of the individuals' wives and children were also taken away, according to government spokesperson Konstantinos Letymbiotis. This action was taken following a thorough investigation conducted by the government.   In the same cabinet session, a bill for 2023 was approved. This bill pertains to the issuance of court orders aimed at safeguarding the collective interests of consumers. Its purpose is to modernize the existing institutional framework that protects consumers' collective interests.   With the new legislation, courts are granted the authority to intervene and halt any behaviors that violate consumer...

Advocate for Affordable Housing and Refugee Programs: The 'Robinhood of Passports' Criticizes Golden Visa Bans

Portugal and Ireland recently made an announcement regarding the cessation of their "golden visa" initiatives. Armand Arton, the CEO of Arton Capital, believes that this decision represents a missed financial opportunity. Instead, he proposes that countries modify the investment requirements to cater to the interests of local residents.   Armand Arton, who refers to himself as the "Chief Global Citizen" rather than CEO, possesses a remarkable collection of eight passports. This assortment is befitting for the head of a company that assists extremely affluent individuals in acquiring second citizenship. The passport business experienced significant growth during the pandemic, particularly among...

Regulatory Landscape of Foreign Direct Investment (FDI) in the US, UK, France, and Germany

The regulation of foreign direct investment (FDI) is gaining more significance in the field of investor regulations. While FDI restrictions are on the rise globally, the extent and characteristics of these regulations differ greatly across jurisdictions. In the following sections, we will outline the key elements of FDI regulation in the United States (US), the United Kingdom (UK), France, and Germany.   TYPES OF TRANSACTIONS SUBJECT TO REVIEW   US: The Committee on Foreign Investment in the United States (CFIUS) has the authority to review: "Covered Transactions," which encompass any transaction that could grant control of a US business to...

Over Two Months, Greece Witnesses 1,446 Applications for Golden Visa Program

Despite the minimum investment threshold for the Golden Visa Program in certain regions of the nation being raised from €250,000 to €500,000, Greece is observing a considerable influx of applications from affluent foreigners. As per data released by the Ministry of Immigration and Asylum, there has been a striking 252 percent surge in requests for the Golden Visa Program in the initial two months of this year, amounting to 1,446 applications compared to 411 applications during the corresponding period last year, as reported by SchengenVisaInfo.com.   During January and February of this year, a total of 574 golden visas were...

Termination of Portugal's Golden Visa Scheme Confirmed

After a successful decade of Portugal's Golden Visa scheme, the government has confirmed its termination. The scheme brought in billions of growth for the national economy, but the Portuguese Prime Minister, António Costa, believes that no special regime justifies the golden visa. As of February 16, new applications for golden visas are no longer valid, but residence permits for investment will remain effective. The majority of residence permits were exclusively for real estate purchases, with only a small number of investors creating jobs. Therefore, the permits granted under the scheme will be converted into normal residence permits. However, golden visas...