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The Hong Kong SAR government announced that it will soon relaunch its residency-by-investment scheme. The government suspended the scheme in 2015 to focus on attracting talent instead of investments, but is now relaunching the program to help economic recovery from the COVID-19 pandemic. Successful applicants will be eligible to apply for permanent residence after seven years of status under the program. Although the government has not officially announced the amount required for the relaunched investment scheme, Hong Kong SAR’s Financial Secretary Paul Chan expects this to be more than HKD 14 million (USD 1.78 million), which is up from HKD...

IMMIGRATION BY INVESTMENT NEWS 2023

The two cities have set up new fund structures to lure wealth away from traditional offshore financial centres   In 2020, the pandemic halted travel and shut borders. But at the same time, two of Asia’s biggest financial hubs saw an opportunity to shift the global centre of gravity for hedge funds and the world’s wealthiest families. Singapore established the “variable capital company”, a fund structure that allows a wide range of potential users to shelter large pools of capital in discreet, lightly taxed wrappers domiciled in a well-regulated financial centre. Hong Kong made enhancements to the “open-ended fund company”,...

IMMIGRATION BY INVESTMENT NEWS 2023

Albania’s Golden Passport Program, warned previously by Prime Minister Edi Rama, may remain an unimplemented plan after the country has officially suspended this scheme.   During the European Union (EU)-Albania Stabilization and Association Council meeting, Albania’s PM confirmed that the much-criticized scheme would not become effective in the near future, SchengenVisaInfo.com reports.   Rama said that the Golden Passport Program promoted previously by the country’s government had been suspended. His comments came during a joint press conference with the Vice President of the European Commission, Josep Borrell, as well as the European Commissioner for Neighbourhood and Enlargement, Oliver Varhely.   “Regarding the...

IMMIGRATION BY INVESTMENT NEWS 2023

High net-worth individuals can obtain a 10-year residency visa by investing ₹21.5 crore in a real estate asset.   Real estate prices in European Union countries have risen, causing an increase in investment thresholds and the termination of Golden Visas offered to wealthy individuals. As a result, Indian investors are turning to the United Arab Emirates (UAE) for such residency opportunities, where high net-worth individuals (HNIs) can obtain a 10-year residency visa by investing 2 million dirhams ( ₹21.5 crore) in a real estate asset.   HNIs are a class of people who work in the financial services industry and have investible...

IMMIGRATION BY INVESTMENT NEWS 2023

Only 136 residence permits have been issued on the basis of a real estate investment in Spain in 2022, which is 72 per cent lower than the 497 visas issued by the Spanish consulates worldwide a year before, in 2021.   Data provided by the Ministry of Foreign Affairs to Spanish nonprofit newspaper The Objective also show that before the outbreak of the Coronavirus pandemic, in 2019, 681 visas were issued to those purchasing homes and other types of real estate in Spain, or 80 per cent more than in 2022.   In spite of the low number of visas...

IMMIGRATION BY INVESTMENT NEWS 2023

A growing number of African nations are looking to attract high-net-worth individuals by offering residence and citizenship through investment programs By Seth Onyango, bird story agency African economies looking to attract fresh investments are turning to innovative programs that offer residence and dual citizenship opportunities to investors with deep pockets. Migration investment programs allow people to purchase citizenship or residency in exchange for an investment in a country. Namibia and Henley & Partners, the global leader in residence and citizenship planning, have unveiled a Residence by Investment Program to attract foreign investment and boost the country’s economic growth. Foreigners seeking Namibian...

IMMIGRATION BY INVESTMENT NEWS 2023

The citizenship by investment programs enables investors to rapidly obtain citizenship with no required residence period, or only a short one.  On Feb. 25, a U.S. government delegation led by Anna Morris, the Department of Treasury's deputy assistant secretary, attended a meeting in Saint Christopher, in St Kitts & Nevis, to discuss the Citizenship by Investment (CBI) programs in the Caribbean.   Prime Ministers Gaston Browne (Antigua & Barbuda), Roosevelt Skerrit (Dominica), Dickon Mitchell (Grenada), Terrance Drew (St Kitts & Nevis), and Philip J. Pierre (Saint Lucia) were also present at the meeting.   They agreed on not processing applications from persons whose request to benefit from the CBI...

IMMIGRATION BY INVESTMENT NEWS 2023

BEIJING, March 5 (Xinhua) -- Over the past five years, China remained committed to opening up wider to the world and expanded international economic and trade cooperation to deliver mutually beneficial outcomes, said a government work report. In response to changes in the external environment, China pursued a more proactive strategy of opening up and worked to boost reform and development with high-standard opening up, said the report submitted Sunday to the national legislature for deliberation. Over the past five years, China's imports and exports were kept stable, and their quality was improved, the report said. China developed new forms...

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