CITIZENSHIP AND RESIDENCY
Italy: Economic Residency & Citizenship-By-Investment
In recent decades, there has been a substantial increase in the mobility of high-net-worth individuals (HNWIs) due to a range of factors including globalisation, the desire for political and economic safe havens, geopolitical risk avoidance, climate change, and a trend for geographic investment diversity. Nowadays, many countries compete for human and financial capital through economic residency and citizenship-by-investment programmes, which allow people with liquid investment funds to acquire residency and/or citizenship rights in a country other than their usual domicile. In return, these types of programmes provide a significant financial investment in the domestic economies of the administering countries. The Italian Government encourages foreign investment through entry visas for high-net-worth individuals. So why is Italy an attractive option for globally mobile talent and capital? Types Of Visas For HNWIs In Italy Unlike EU citizens or nationals coming from countries within the Schengen area (who need not obtain any residence visa in order to immigrate to Italy), non-EU citizens are required to apply for an entry visa if their intention is to move to Italy and obtain a residence permit. In this regard, the most common entry visas considered by HNWIs are the ‘elective residence visa’ and the ‘investor visa for
New Zealand’s New Golden Visa
The New Zealand Government has announced changes to its residency by investment programme. This article will explain the history of New Zealand’s residency by investment programme in a global context, and provide details of recent changes to the criteria, which have once again made New Zealand an attractive option for globally mobile talent and capital. Significant Increase In Human And Capital Mobility In recent decades, there has been a significant increase in human mobility caused by a range of factors such as globalisation, the relaxation of exchange controls and visa restrictions in certain regions, the pursuit of political and economic safe havens, the avoidance of real or perceived geopolitical risk, war and social unrest, climate change, and a desire for geographic investment diversity. Nowadays, various countries compete for human and financial capital through economic residency/citizenship programmes. These programmes allow people with liquid investment funds to acquire residency/citizenship rights in another country in addition to their usual country of residence/citizenship. In exchange, the countries administering these programmes and providing these rights receive a significant financial investment in their domestic economies. It is a simple, legitimate, and mutually beneficial trade. Proven And Legitimate Economic Accelerator Economic citizenship programmes are offered by
Dominica: Welcoming World Citizens Since 1993
COVID-19 impacted the tourism industry. However, due to the immediate response of the government, local COVID cases were minimised and the death rate due to COVID is zero. United Airlines flies daily from Miami. Currently the InterContinental Dominica Cabrits Resort & Spa, and the boutique Hotel Secret Bay, have been welcoming tourists again. A new international airport is under construction, planned to finish by 2026. Since 1993, Dominica has been welcoming foreign investors to become citizens of the island with full rights by making an economic contribution to a government fund, and since 2015, via investment in government-approved real estate options. Known as the Citizenship by Investment Programme (CIP), successful applicants unlock a wealth of benefits, including increased travel freedom to over 150 countries and territories, and the ability to pass citizenship down to future generations. Over the last six years, Dominica has been ranked the best destination for second citizenship by experts at the Financial Times’ PWM magazine. Furthermore, the Citizenship by Investment Unit (CBIU) has introduced a remote filing process since the Hurricane Maria period, and all filing during the COVID era has proved swift and smooth. The entry level for the CBI Programme is US$100,000 for the
CITIZENSHIP AND RESIDENCY
Greece Welcomes Investors For Golden Visa And Other Residency Programmes
Many of them have also opted for the residency programmes/options Greece offers to international investors. The Greek Golden Visa Programme is the most competitive and affordable programme in Europe, with the lowest investment threshold of €250,000 for real estate investment or €400,000 for fixed term deposit or purchase of Government Bonds. Key advantages include: Lowest entry cost amongst the other alternative EU Programmes. Initial procedure to be done remotely by Power of Attorney. Only one visit is required for the biometrics of the residence permit. Permanent residency is granted in just two months for three generations (main applicant and spouse, children up to 21 years and parents of main applicant and spouse). The most recent enhancement means minors can be main applicants for the Golden Visa though the purchase of real estate or the opening of a Time deposit account. For the Real Estate Option, the main applicant may purchase several properties in order to make up the investment amount of €250,000. Property(ies) can be rented out. Fixed term deposit of €400,000 is easier and provides an easy way out and a capital guarantee. No minimum residency requirement and periods of absence do not hinder the renewal of the Permanent
