Investor Migration Rise of the Global Citizen Dominic Volek, CA(SA), IMCM Managing Partner and Head Southeast Asia
Global trends and developments in investor migration Rising tide of nationalism and anti-globalization Access to the 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 the EU via Cyprus
About Henley & Partners
Focus Residence and citizenship planning Program development for countries Clients Wealthy individuals and families Governments worldwide Reach Over 250 staff Track Record 20 years leading the industry Global Presence
Henley & Partners Worldwide Offices Antigua and Barbuda Australia Austria Canada Croatia Cyprus UAE (Dubai) Grenada Hong Kong Jersey Latvia Lebanon Malaysia Malta Philippines Portugal Singapore St. Kitts and Nevis St. Lucia South Africa South Korea Switzerland Thailand Turkey United Kingdom Vietnam 4
Comprehensive Private Client Advisory Process Develop a medium to long-term residence and/or citizenship strategy Introduction of client Provide a fully-managed process Implement and manage all administrative tasks when able to. Fly to visit, meet at their office or home Procure the desired residence or citizenship Ongoing strategy optimization Implement strategy Understand client profile Define strategy 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 5
Selected Government Advisory Milestones Design, implementation and international promotion of the Swiss Residence Program, which consists of agreements with a number of cantons and is linked to the lump- sum tax facility offered in the Swiss tax codes Review and design of the new investor immigration program for Latvia, which was launched in 2010. Widely recognized as one of the most advanced and successful residence programs in Europe Review and reform of UK Tier 1 (Investor) Rules in Great Britain and launch of the new program in April 2011. 1997 2006 2009 2010 Mandated with the design, implementation and international promotion of the citizenship-byinvestment program of St. Kitts and Nevis, the most successful citizenship program in the world until 2013. The firm also assisted in the negotiation of a visa-waiver agreement between St. Kitts and Nevis and the EU Design and partial implementation (including design of application forms) of a planned citizenship-by-investment program in Montenegro
Selected Government Advisory Milestones Mandated by the Government of Antigua and Barbuda to design and set-up their new citizenship-byinvestment program. Contracted by the government to promote the program internationally. Appointed by the Government of Grenada to advise and assist on the restructure and enhancement of the citizenship-by-investment program, making it competitive in the international market. 2011 2013 2017 2012 2016 Review and reform Canada s Federal Investor Immigration Program, including recommendation to increase required investments (together with HSBC Global Investor Immigration Services), which was implemented according to our recommendation. Design, implementation and international promotion of a new citizenship-by-investment program in Malta. The program is run by the government jointly with Henley & Partners as concessionaire under a public services concession. It is the most successful citizenship program in the world. Appointed as Global Concessionaire for the Thailand Elite Residence Program to assist with the global promotion of the program; development of a webbased application portal; and enhancement of the program.
What s driving investor migration for Asian HNWIs? Better quality of life, climate, security Cleaner environment Quality of Life Better healthcare, education and transport systems 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 and Visa Waivers Freedom of movement when some nationals are overly exposed to physical or financial threats Opens travel to countries previously restricted by time-consuming visa application processes
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 Asian HNWIs? Protection Increased privacy in banking and improved physical security Tax Planning Often the only way to reduce the tax burden and regulatory restrictions legally is to relocate 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
The difference between Citizenship and Residence 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
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
Residence-by-Investment Programs Henley & Partners handpicks the most attractive countries with regard to mobility, security, privacy, personal tax and lifestyle Australia New Zealand Austria Portugal Canada Singapore Cyprus Switzerland Hong Kong Thailand Malaysia UK Malta US
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