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Greek authorities have decided to postpone the increase in the minimum investment amount for the Golden Visa Program in certain areas of the country by three months. This means that wealthy foreign nationals can still participate in Greece's Golden Visa Program by investing €250,000 instead of €500,000 until July 31. The decision to raise the minimum investment amount was initially announced by Greek Prime Minister Kyriakos Mitsotakis, leading to a significant increase in the number of program applications.   The Ministry of Immigration and Asylum reported a 252% surge in applications for the Golden Visa, totaling 1,446 requests in January...

IMMIGRATION BY INVESTMENT NEWS 2023

Jordan is a peaceful Middle Eastern country known for its high living standards, quality healthcare, and welcoming expatriate community. It stands out as a progressive nation with a robust police and military presence. Attaining Jordanian citizenship is possible through a minimum investment of $750,000, offering various avenues such as bank deposits, business or government project investments, and job creation.   Successful applicants gain the privilege of visa-free travel to over 50 countries, and the application process typically takes around three months. Despite bordering nations with ongoing conflicts or unstable political climates, Jordan itself is a tranquil, content, and relaxed place...

IMMIGRATION BY INVESTMENT NEWS 2023

The Residency by Investment program in Cyprus has undergone significant amendments as approved by the government. These changes aim to tighten the application process and establish stricter requirements for prospective investors. Among the key modifications are the introduction of a higher minimum annual income threshold, an increased amount for sponsoring dependents, and the implementation of annual income verification for individuals holding residency status. Additionally, adjustments have been made to the eligibility criteria for family members, excluding parents and adult children from obtaining residency under the main applicant's application.   Under the revised program, applicants seeking residency by investment in Cyprus...

IMMIGRATION BY INVESTMENT NEWS 2023

Over the past decade, Cayman Enterprise City (CEC) has been actively promoting the Cayman Islands and its Special Economic Zones (SEZs) as the perfect destination for knowledge- and technology-driven businesses looking to establish a tangible physical presence. As a result, CEC proudly houses 317 SEZ companies, representing the largest innovation ecosystem in the region.   CEC specializes in facilitating the establishment of offices for startups, mid-sized enterprises, and publicly-listed companies from around the globe within three distinct SEZs: Cayman Tech City, Cayman Maritime & Aviation City, and Cayman Commodities & Derivatives Centre.   Charlie Kirkconnell, Chief Executive Officer of CEC...

CORPORATE & FIDUCIARY NEWS 2023

Campaigners are calling on King Charles to take action against the UK's "network of satellite tax havens," which enable an annual avoidance of £152 billion in taxes. The Tax Justice Network, a coalition opposing tax avoidance, has written a letter to the monarch, urging him to leverage his position to push for a revision of laws that allow rampant tax avoidance across the UK, crown dependencies, and British overseas territories.   In the letter, seen by The Guardian, the campaigners highlight the financial and human toll borne by ordinary people due to the UK's tax havens, for which King Charles...

CORPORATE & FIDUCIARY NEWS 2023

Investments worth 800 million euros in residential tourism have been canceled by April, which would have represented 500 million euros in taxes and the creation of 2,090 jobs. The Portuguese Association of Residential Tourism and Resorts is calling for "common sense" to avoid a "catastrophe."   The government is destroying something that took decades to build in just a few months. It involved the effort of investors, the state, and the people, and now, with a thoughtless decision, we are throwing it all away. The criticism of the end of golden visas, a measure included in the "More Housing" package,...

IMMIGRATION BY INVESTMENT NEWS 2023

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,...

CORPORATE & FIDUCIARY NEWS 2023

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...

IMMIGRATION BY INVESTMENT NEWS 2023