We are living in a new world linked to Brexit, President Trump, terror attacks and EU crisis. What will be the “Trump effect” on citizenship by investment programs?
Events of the past few months, and now the Trump presidency, are having a severe impact on the thinking of wealthy people regarding new escape routes, such as second residences and citizenships. People are becoming uncertain and unsatisfied everywhere in the world, even in rich countries. We experience a significant increase in new requests from all around the world. The world is not safe anymore, and the future is quite unpredictable. However, wealthy people are in the lucky position to move forward, seeking to secure a safe future for their children. A second passport or even a second residency is also the key to a second — presumably safe — home.
Your company was extremely successful with the Hungarian residency program. What happened to it?
Hungarian Residency Bond Program was very popular, More than 5000 applicants entered the program, and over ten thousand people (when including family members) have received Hungarian permanent residence permits. The numbers above outperform the success of any other European residency and citizenship programs. However, the Hungarian government will suspend the program on March 31st of 2017 because of the favourable developments in the country’s financing conditions in the last year. I am convinced that the Hungarian Residency Program was the best offer in Europe.
What is your secret?
We do not play the “trusted advisor role”, we just collaborate with our clients. We are well aware that the future of their family is the most important. We work together with our clients aiming to find a solution that satisfies them. They know what they want; we know what is possible, so the result is the best possible solution. Investment is a human relation. If you do not trust the other person, you will not give your money to him or her. The “human factor” is the most important factor in our business. We build trust.
What is the best offer for high-net-worth individuals in 2017?
I think the “oldies” will work well in 2017 as well. I see a great potential in the Caribbean programs. Some new rules and significant changes make it easier to get dual citizenship in this area. The proposed substantial increase of the minimum investment amount required for the EB-5 program and Canada’s focus on bringing more refugees into the country than attracting foreign capital may point investors in the direction of the Caribbean or even Europe.
Dominican Citizenship by Investment Program now recognises children up to 28 years of age as well as parents of applicants over 55 years of age fully-supported by the main applicant.
Since the appointment of Les Khan as the new Chief Executive in September 2016, the Citizenship by Investment Unit of Saint Kitts & Nevis has been completely overhauled and restructured leadership to a more robust due diligence framework, greater transparency and so improved credibility.
Saint Lucia has an intention to become the most innovative and secure program in the region. The recent changes, such as reducing the costs and removing the requirement to declare substantial financial resources, as well as the reintroduction of government bond option, are very straightforward.
Antigua is not Terra Incognita for wealthy people. Celebrities have been choosing this tiny Caribbean island as an investment playground, a place for a second home, or just vacation spot for many years.
What is the best offer in Europe?
For those who are seeking European citizenship and also an excellent investment, I would suggest Cyprus. The government of Cyprus revised the previous citizenship program and made it even more attractive. The minimal individual investment amount has been reduced from 5 million to 2 million euro. In return for a safe and profitable investment into residential properties, you get an EU passport within 3-4 months. The price of real estates we offer increased by 5-10% each year.
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