“A Tsunami of Capital” Coming to New Zealand: Investment Migration People in the News This Week

Investment migration people in the news this week included:

• Stuart Nash of Nash Kelly Global
• David Lesperance of Lesperance & Associates
• Dr Juerg Steffen and Scott Moore of Henley & Partners
• Nuri Katz of Apex Capital Partners
• Andri Boiko of Garant.in
• Marcus Beveridge of Queen City Law
• Nicholas Mastroianni III of US Immigration Fund
• Cline Glidden Jr of Ogier Law

The Guardian – Rich Americans flock to apply for New Zealand’s ‘golden visas’ after rules relaxed

“Nearly everyone who is applying is applying because of the changes they’re seeing under the Trump administration,” said Stuart Nash, a former Labour party minister, who now runs Nash Kelly Global, an immigration and relocation consultancy.

[…]

“This is a rare combination, and one that deeply resonates with investors thinking about legacy, not just returns,” he said.

Bloomberg – Wealthy Europeans Lured by Tax Havens Face Surge in Exit Charges

“A lot of countries are bringing in exit taxes,” said David Lesperance, founder of wealth management consultancy Lesperance & Associates in Poland. “Clients who have illiquid assets and mortgages are then hesitant to trigger [them] because they just don’t have the money to pay the bill.”

[…]

“It’s sort of a perfect storm,” said Lesperance, “Clients are figuring out what jurisdiction is going to work that’ll meet all their family needs.”

City AM – UK set to ‘lose more millionaires’ than any other country

Henley & Partners chief executive Dr Juerg Steffen said the findings marked a “pivotal moment” for global wealth migration, which was likely to have stark implications for Britain and Europe’s appeal to the world’s most moneyed inhabitants.

[…]

“For the first time in a decade of tracking, a European country leads the world in millionaire outflows,” he said. “This isn’t just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications for Europe and the UK’s economic competitiveness and investment appeal are significant.”

[…]

The Henley & Partners study also found Britain is poised to lose the highest combined estimated wealth of migrating millionaires, which David Lesperance, founding partner of Lesperance & Associates, said was the most damning economic factor in the data.

[…]

“The greater the net worth, the higher the annual tax contribution – along with other economic benefits like employment, consumer spending, investment capital, charitable contribution, VAT, property tax et cetera – that these Golden Geese contribute,” he said.

Forbes – Millionaires Are On The Move—Here Are The Countries Winning And Losing Wealthy Residents

“To have one million dollars in liquid assets, basically money in the bank, generally you’d have to be worth close to $10 million,” Nuri Katz, founder of Apex Capital Partners, a firm that provides investment immigration guidance to high-net-worth clients, told Forbes.

[…]

Nearly 70,000. That’s how many people Lutnick claims registered for the $5 million Trump Gold Card visa on its website in the days immediately following the website’s June 11 launch. Lutnick has said the Trump Gold Card could attract as many as 200,000 investors-turned-green cardholders, while Trump has suggested the U.S. could “sell maybe a million of these cards, maybe more than that,” noting 10 million cards could bring in $50 trillion of revenue and eliminate the $36 trillion national debt. If Lutnick’s claim is accurate, “the vast majority” are likely simply signing up to get more information “and not actual UHNWIs (ultra-high-net-worth individuals) that are waiting to apply,” a Henley & Partners spokesperson said, adding that if the Trump Gold Card provided wealthy individuals with more favorable tax treatment on worldwide income, “we could see a couple thousand gold cards issued every year, but still a lot of unknowns at this stage.” Katz told Forbes that Lutnick’s “math does not add up,” since “I have rarely seen anybody spend more than 10% of their net worth on an immigration program, and generally it’s more like 5%. So you’ve got to be worth $100 million in order to be able to afford this.” There are fewer than 30,000 centimillionaires in the world, and about one third are Americans who would not need to buy a green card.

Antigua News – VIDEO STORY: Citizenship by Investment Under Fire | Will Antigua and Barbuda Face Visa Bans?

Nuri Katz of Apex Capital Partners appears on Antigua News to discuss the US travel ban.

As international pressure mounts, the future of the CBI program in Antigua and Barbuda and other countries hangs in the balance, raising questions about its sustainability and the potential economic repercussions for the islands if visa restrictions are imposed.

Inquirer – Tax reform, better ‘golden visa’ pushed

MANILA, Philippines — Scott Moore, managing director for Southeast Asia at Henley & Partners, told reporters on Tuesday the Philippines had 12,800 high net worth individuals (HNWIs), including 70 centi-millionaires (those with at least $100 million in investable wealth) and 12 billionaires.

[…]

“If a country can create new millionaires, it means that the economy is growing and there’s good opportunities,” Moore said.

[…]

Although the Philippines has the Special Investor’s Resident Visa, Moore explained that this needed to be “done quicker,” stressing that remote applications would also make it more attractive.

Financial Express – Italy Golden Visa Program: Investment options for foreign investors applying for a residence permit

“Such investments can qualify one for Italy’s Golden Visa, leading to permanent residency and citizenship, with no strict residency requirements and only basic Italian language (A2) needed. Italian citizenship is one of the top three strongest passports in the world, offering visa-free access to the US, UK, Canada, Australia, and more,” says Andri Boiko, Global Founder & CEO Garant.in

[…]

Why do so many wealthy individuals choose Italy despite Europe’s traditionally high taxes? “The answer lies in Italy’s favourable tax regimes tailored for foreign residents, which allow significant tax optimization when income is structured correctly. Combine this with Italy’s strategic location—just one hour from Switzerland and France—and the result is a powerful mix of lifestyle, tax efficiency, and investment opportunity,” says Boiko.

News Talk ZB – Golden visas’ success is a “ray of sunshine” in the economic gloom

Queen City Law Managing Director Marcus Beveridge told Mike Hosking he’s predicting a tsunami of capital into our little economy.  

[…]

He says he wouldn’t be surprised if we don’t exceed $10 billion a year from immigration alone, and with those migrants bringing more money, we could end up with up to $30 billion per annum. 

Business Standard – Trump’s $5 mn Gold Card visa gets over 68,000 global sign-ups in 5 days

Nicholas Mastroianni III, president and chief marketing officer of US Immigration Fund, told Business Standard, “The proposed Trump ‘Gold Card’ is not law. It has no legislative text, no USCIS framework, and no defined criteria around family eligibility, job creation, or adjustment benefits. In contrast, the EB-5 program is well-established, over 30 years old, grounded in federal law, with over 100,000 green cards issued.”

Cayman Compass – Attorney: Citizenship by investment under fire, but Cayman safe

A Cayman attorney says there is no reason for alarm following a leaked memo from the United States government that threatens potential travel restrictions against countries offering citizenship by investment or golden passport programmes. According to Cline Glidden Jr. of Ogier law firm, Cayman’s residency by investment model is fundamentally different, offering no shortcuts to nationality without residency.

[…]

“Even for those who qualify for unlimited residency, all they are receiving is the right to live in Cayman – not to work and not to obtain a Caymanian passport,” Glidden explained. “All you’re getting is residency. And if you don’t make use of that residency, then you basically wasted the investment, because the only thing you’re getting is residency.”

[…]

“If someone is trying to buy a second passport or skirt immigration rules in another country, Cayman is not the place to do it,” Glidden said.