“Wealth Does Not Stay Still Anymore”: Investment Migration People in the News This Week

Investment migration people in the news this week included:

• David Lesperance of Lesperance & Associates
• Jeremy Savory of Savory & Partners
• Anup P. Shah of Pravin P Shah & Co
• John Lyons of Espace Real Estate
• Dominic Volek of Henley & Partners
• Piyush Gupta of CanAm Enterprises

Reuters – Ultra-rich entrepreneurs threaten to desert Britain over tax

David Lesperance, managing director of tax adviser Lesperance & Associates, told Reuters the government should not underestimate the ease and pace at which wealthy families could quit the UK, and how countries like Dubai and Singapore were striving to attract them.

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“Wealth does not stay still anymore. It doesn’t have to. The golden geese have wings and they will fly,” he said.

The Ritz Herald – American Investors Rush: Four Nations Move Forward, One Holds Off Implementation

Jeremy Savory, founder and CEO of Savory & Partners, said, “Investors are rushing to meet the requirements before the deadline comes to pass. A wise choice, considering how rapidly things are changing.”

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“We are working closely with our clients to make sure they’re well-informed about the changes and can make the best decisions possible,” Savory added.

Arabian Times – Dubai real estate sales hit $52.5bn in H1 as apartment, villa and rent prices all increase: report

John Lyons said: “While there will be a surge of rental supply in 2025 and 2026, 80 per cent of this supply will be apartments which tend to accommodate lower number households and therefore the projected population growth required to absorb the supply is often overestimated.

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“Furthermore, is it important to note that residential supply must appeal to three distinct and growing demand pools: population growth (residents), exclusive use second home/holiday home buyers, and investors targeting the rising tourist market through managed holiday home investments.

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“Dubai’s super cycle of value and transaction volume growth is likely to continue for many years to come.”

The Economic Times – Looking to switch citizenship? Try Vanuatu. It’s fast & cheap

Vanuatu is the latest feature in the overarching story of residents taking citizenship of other countries. According to some estimates, at least 30 Indians (including NRIs) have become citizens of Vanuatu in the past 18 months. “It’s currently the quickest `Citizenship by Investment’ Programme. It has become popular among many UAE residents, including Indians and Russians. The Vanuatu passport offers visa free access to over 55 countries and visa on arrival in 34 countries. Its visa waiver programme with the EU was suspended in 2023,” said Dr.Anup P. Shah, Partner at chartered accountants Pravin P Shah & Co, which also offers legal and finance consultancy.

ECO MONEY – Millionaires opting for climate resilient cities

The great migrations comes as the world grapples with a perfect storm of geopolitical tensions, economic uncertainty, and social upheaval, millionaires are voting with their feet in record numbers.

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Now, another factor is increasingly weighing on the minds of the wealthy when it comes to residency, and that is climate change. Rachel Kelly speaks to Dominic Volek, Group Head of Private Clients at Henley & Partners to find out more.

Bloomberg –  Rich Chinese Return to Hong Kong as Singapore Steps Up Scrutiny

The Chinese territory is expected to welcome about 200 high-net worth individuals this year after five years of millionaires skipping town, according to data provided by intelligence firm New World Wealth and immigration consultancy Henley & Partners, thanks to initiatives including family office tax concessions and visa and residency programs.

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To be sure, Singapore remains a popular destination for migrating millionaires. Its forecast to welcome a net 3,500 millionaires this year, the third most globally, according to Henley & Partners.

Business Insider – Rich people can buy their way into Hong Kong residency, and the majority of applicants come from 2 tiny countries

Hong Kong’s latest attempt to woo investors comes just as a report by Henley and Partners shows that the city lost 4% of its millionaires from 2013 to 2023.

The Economic Times – Starting up in the US: An entrepreneur’s path to the Green Card

Piyush Gupta of CanAm Enterprises pens an article to The Economic Times explaining how to transition from an L-1A to an EB-5 visa.

According to William Kerr from the Harvard Business School, today, roughly 25% of inventors and entrepreneurs in America are foreign-born. This share was around 10% in the 1970s and has grown substantially since then. This group contributes to most sectors of the economy, from low-skill service industries to cutting-edge high-tech venture capital-backed companies.

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Transitioning from an L-1A to an EB-5 is a smart move because managing a small business is easier under an EB-5 program than an L-1A visa.