Building Family Legacy through Citizenship and Residence Programmes Dominic Volek, CA(SA), IMCM Managing Partner and Head Southeast Asia Henley & Partners
About Henley & Partners
Focus Residence and citizenship planning Program development for countries Clients Wealthy individuals and families Governments worldwide Reach Over 250 staff Global presence Track Record 20 years leading the industry
Henley & Partners Worldwide Offices Antigua and Barbuda Australia Austria Canada Croatia Cyprus Dominica Dubai (UAE) Grenada Hong Kong Jersey Latvia Lebanon Malaysia Malta Philippines Portugal Singapore St. Kitts and Nevis South Africa South Korea Switzerland Turkey Thailand United Kingdom Vietnam
Comprehensive Advisory Process Focus: Develop a medium to long-term residence and/or citizenship strategy Provide a fully-managed process for busy people Ongoing strategy optimization Introduction of client Understand client profile Implement and manage all administrative tasks when able. Fly to visit, meet at their office or home Implement strategy Define strategy Procure the desired citizenship Henley & Partners office in the target country Henley & Partners office nearest to the home country of the client
Unique Track Record in Government Advisory Henley & Partners is the leading firm worldwide advising governments on residence and citizenship programs Its assignments range from strategic consulting to assistance in the design, set-up and operation of investment-related programs
The difference between Residence and Citizenship Programs Citizenship The right to vote Ability to pass citizenship on to future generations Allows international travel Affords protection from the state Residence The right to live, work, travel and study in a country Usually comes with conditions or requirements May give some travel rights Can be withdrawn Is likely to affect tax status
Citizenship-by-Investment The term citizenship-by-investment describes the policies of countries in which foreign persons may gain citizenship through capital investments or significant capital contributions in the country Several countries have programs in place to attract foreign investors in return for citizenship The intention is to build a long term affinity between their country and highly successful people
What s driving investor migration for Asia s wealthy families? Visa Waivers Opens travel to countries previously restricted by time-consuming visa application processes Retirement Freedom to retire in a safe country without worrying about changing immigration laws Independence Be able to travel or have the option to relocate at any time Mobility Freedom of movement when some nationals are overly exposed to physical or financial threats
The Henley & Partners Visa Restriction Index 2017
The Henley & Partners Visa Restriction Index 2017 Top Global Ranking 2017: Selected countries Global Ranking 2017:
What s driving investor migration for Asia s wealthy families? Protection Increased privacy in banking and improved physical security Tax Planning Citizenship is one of the tie-breaker rules in most double tax treaties Expatriation To renounce citizenship another citizenship must be acquired first Security Guarantees a secure and truly permanent alternative place to go; the permanent right to reside
Citizenship-by-Investment Programs There are currently only seven countries which offer citizenship programs that provide a direct legal route to citizenship based on investment and which have passed Henley & Partners country due diligence Antigua and Barbuda Austria Grenada Cyprus St. Kitts and Nevis Malta St. Lucia Other countries have similar provisions. However, in those countries there is no established or clear practice and/or the programs are not transparent
Residence-by-Investment The term residence-by-investment describes policies of countries in which foreign persons may be granted a residence permit or card through capital investments in the country Several countries have programs in place to attract foreign investors in return for residence These programs are used to encourage wealthy foreigners to reside in their country
Reasons for an Alternative Residence Quality of Life Better quality of life, climate, personal security Cleaner environment Better healthcare and transport systems Security Safe alternative in times of instability More privacy in investment and banking A defined and stable legal environment Education Graduation at high-ranking schools and language skills are increasingly important as the basis for a successful career Taxes Often the only way to reduce the tax burden and regulatory restrictions legally is to relocate
Residence-by-Investment Programs Henley & Partners handpicks the most attractive countries with regard to mobility, security, privacy, personal tax and lifestyle Australia Austria Canada Cyprus Hong Kong Malaysia Malta Monaco New Zealand Portugal Singapore Switzerland Thailand UAE UK US
Trends in Global Citizenship
Knight Frank Report: Barriers and Opportunities for Wealth Migration in 2017 Rising tide of nationalism and anti-globalization Access to world s three largest consumer markets via the Caribbean Greater travel freedom with more visa-waiver agreements Launch of the Malta Residence and Visa Program More affordable access to EU via Cyprus
Questions and Answers
Your Partner for Residence and Citizenship Advising hundreds of clients every year on residence and citizenship Mandated by governments worldwide Henley & Partners The Leader in Residence and Citizenship Planning Our unique knowledge and experience is your advantage
Thank You
Dominic Volek, CA(SA), IMCM Managing Partner Head Southeast Asia Henley & Partners Singapore Pte Ltd 36 Robinson Road City House, Level 14-06 Singapore 068877 Telephone +65 6438 7117 Direct +65 6438 7227 Email dominic.volek@henleyglobal.com Internet www.henleyglobal.com