Investment migration people in the news this week included:
- Jean-François Harvey of Harvey Law Group
- Alex Lawry-White and Nathan Hadlock of Pela Terra
- Aquila Wheels FCR
- Mar Ventures
- Micha Emmett of CS Global Partners
- Veronica Cotdemiey of Citizenship Invest
- Zaid Al Hindi of Imperial Citizenship
- Armand Arton of Arton Capital
- Investment Migration Council (IMC)
- David Lesperance of Lesperance & Associates
- Jeremy Savory of Savory & Partners
Forbes – Citizenship By Investment: A Guide For Business Leaders And Investors
Jean-François Harvey, Founder and Managing Partner of Harvey Law Group, writes an article for Forbes explaining the concept of citizenship by investment.
It’s anticipated that the 2024 U.S. presidential election will highlight the continued political division in the U.S. Because investment immigration can be driven by political reasons, interest in pursuing a “Plan B” in citizenship outside of the U.S. may increase.
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While citizenship by investment programs offer numerous opportunities, the potential drawbacks associated with such initiatives need to be weighed against the benefits.
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The decision to pursue CBI can sometimes be rooted in underlying panic or distress, driven by concerns over political instability, economic uncertainty or security threats in one’s home country. While such motivations are understandable, they underscore the importance of conducting thorough due diligence and considering long-term implications before committing to an investment immigration program. It’s also important to recognize that these programs are often accessible only to high net worth individuals, and having access to sufficient capital is a critical factor for completing a successful CBI.
The Telegraph – Portugal has axed the golden visa – here’s how to get a ‘green’ one and the same tax perks
These include Pela Terra, a project and investment fund launched in 2020 by Wiltshire-born entrepreneur Alex Lawry-White and his Ohio-born business partner Nathan Hadlock.
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“We are doing this at scale, so we buy large tracts of secure farmland from big companies and very old landed families, which gives us enough guaranteed income (and therefore security for our investors) while also employing a team of ecologists and environmental scientists who are working away on the challenges like carbon capture, water use and soil health – the things which impact the quality of the food.”
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Other golden visa investment opportunities include Aquila Wheels FCR – a fund that invests in classic cars.
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Another option is Mar Ventures, a fund that invests in the Portuguese “blue economy”.
The Financial Express – Biggest motivating factors for global citizens to settle abroad
The Republic of Ireland emerged as the top-scoring nation in citizenship rankings this year. CS Global Partners has released the third edition of the annual CS Global Partners World Citizenship Report that combines its analysis of Safety and Security, Economic Opportunity, Quality of Life, Global Mobility and Financial Freedom with high-level contributions.
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‘We expect to see considerable change in the global landscape. Elections will bring about change, with the hope of positive innovation and a chance for enhanced geopolitical stability. The 2024 World Citizenship Report is an improvement from previous editions, as we confront global challenges faced by global citizens head-on. Our Report has never been more relevant and important,’ says Micha Emmett, CEO of CS Global Partners.
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The World Citizenship Report survey of HNWIs found that in Europe and other economically more developed regions, HNWIs place greater emphasis on investments, portfolio diversification and wealth planning when considering second citizenship.
Jakarta Globe – Dual Citizenship Can Bolster Indonesia’s Global Competitiveness
Veronica Cotdemiey, CEO of Citizenship Invest – a Dubai-based firm that specializes in citizenship and residency by investment for high-net-worth individuals worldwide – praised the initiative.
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“The introduction of dual citizenship represents a transformative shift for Indonesia. It not only makes the country more attractive to international talent but also allows Indonesians abroad to maintain ties and contribute to their homeland without sacrificing their global mobility,” Cotdemiey was quoted as saying in a recent press statement.
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“Dual citizenship could be a game-changer for Indonesia, allowing the country to leverage global Indonesian networks and expertise,” Cotdemiey added.
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“Dual citizenship could be a game-changer for Indonesia, allowing the country to leverage global Indonesian networks and expertise,” Cotdemiey added.
Business Day – How Dubai firm is using investment migration to support Nigeria’s economy
“Africa’s flourishing HNWI population presents a remarkable opportunity. We recognise the challenges faced by these individuals, including limitations on travel freedom and a desire to diversify their wealth. Our RCBI programs offer a strategic solution, empowering them to become true global citizens,” Zaid Al Hindi, founder and CEO of Imperial Citizenship said in a statement.
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“However, despite this wealth creation, Africa continues to grapple with the loss of skilled professionals. The UN states that migration from Africa has increased by 30 percent since 2010. PwC opines that a significant portion of the wealth from the region is managed internationally.”
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It added that this trend highlights a broader shift – a growing recognition of Africa’s potential not just as a land rich in resources, but as a vibrant economic powerhouse in the making. “While Africa’s economic future looks bright, challenges remain. Retaining skilled professionals and addressing limitations on visa freedom will be crucial for sustained growth.”
Now Grenada – Politicians, stop using industry as political football
Armand Arton, President and CEO of Arton Capital wants politicians, especially those in opposition political parties, to stop using Citizenship by Investment programmes as political football before elections because their utterances are not only damaging the programme, but the image of the countries offering migration programmes.
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Speaking on the topic “The Innovation imperative for Caribbean CBI resilience” at the Caribbean Investment Summit 2024 which opened in Grenada on Thursday, 23 May 2024, he said, “Politicians please stop using our industry as a political football before elections.”
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“Before a general election every opposition party promises to stop the programme with damaging facts about how it works, but when they come into power, they never stop it,” he said to over 200 participants at the summit at the Radisson Conference Centre.
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“The hurt is not only done to the programme, but to the image of the country. When for example diplomats are reading these stories, what they see is the negative and they are now expressing concerns because of what they see in the news before elections,” he said.
Caribbean News Global – St Lucia implicated in CBI RICO lawsuit filed in US Federal Court
Subsequent to MSR Media concerns last November about ‘finance and discounting schemes‘ in the CBI program and in response to MSR Media campaign to end corruption in the CBI industry on May 23, 2024, filed two lawsuits in the United States Federal Court.
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“A RICO lawsuit in the US Federal court against defendants primarily of St Kitts and Nevis origin includes McClaude Emmanuel (CEO of the St Lucia CIP).” The second lawsuit comprises judicial review in the High Court in St Kitts. The claim is seeking “an order of mandamus requiring” prime minister, in his capacity as minister of national security, to “revoke all citizenships granted to applicants,” according to MSR Media, under the St Kitts Prison Project “who paid less than the legal price.”
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An IMC memo earlier this month “cites complaints, migration pathways at prices that fall under the full legislated amounts set out by governments. IMC said it “has received, a number of complaints citing that it is common practice for agents, particularly in the Middle East and some Caribbean countries, to promote investment migration pathways at prices that fall under the full legislated amounts set out by governments. This practice contravenes the IMC’s Codes of Conduct and Guidelines on Advertising and Marketing. IMC members are reminded to act in a manner that aligns with the fundamental values we promote at the IMC: ethics, transparency, and openness and to abide by the contents of the codes.”
The Telegraph – What to do now to shield your money from Labour
“The question isn’t whether Labour will get in, but what they’re going to change when they do,” says David Lesperance, founder and head of international tax advice firm Lesperance & Associates.
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Mr Lesperance says his high net-worth non-dom clients are “fine-tuning their escape plans” in anticipation of a Labour government.
CCN – Vitalik Buterin Transfers 80 ETH to Railgun: Could This Raise Legal Concerns?
The recent sentencing of Tornado Cash developer Alexey Pertsev for money laundering has sparked discussions about the legal implications of using such tools. To gain insights, CCN consulted David Lesperance, an international crypto and tax advisor.
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Lesperance highlighted that crypto mixers, like Tornado Cash, are under scrutiny because they can be used for both legitimate and illicit purposes, such as tax evasion or funding terrorism. However, since Buterin is not a US taxpayer, the US lacks jurisdiction over his use of such tools, the tax advisor explained. He emphasized that while US regulations might restrict American users, international enforcement remains complex and inconsistent.
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“This particular gentleman is not an American; he’s a Canadian and a Montenegrin for tax purposes. They don’t have jurisdiction over him as a user, just as they wouldn’t who was an Indian or Emirati or an Aussie or Kiwi,” he added.
Gulf News – Jeremy Savory, the man interviewing the who’s who of the region
“I created The CEO Hack out of a deep desire to provide a platform where entrepreneurs and dreamers alike can learn about the good, the bad, and the REAL that comes with success from the journeys of industry leaders,” says Jeremy Savory.
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There are plenty of over-the-top and just outright bizarre experiences, too: how former CEO of Sigma Holding Company and Vice President, Al Ittihad Alexandria Club, Ahmed Mustafa’s life changed overnight after a small investment in an American company, which soon after claimed the third spot among the world’s largest corporations.
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“My journey has been one of constant evolution, growth and success,” says Jeremy. “And through The CEO Hack, I’m just honored to pay it forward by empowering the next generation with the knowledge and tools we did not have.”
