Investment migration people in the news this week included:
- Mohamed Bennis of Arton Capital
- Sarah Young of Sable International
- Anthony Liew Yong Huat of Malaysia My Second Home Consultants Association
- Samuel Tan of Olive Tree Property Consultants
- Teresa Chai of Aramaz Borneo
- Henley & Partners
- Diogo Capela of Lamares, Capela & Associados
- Steve Philp of Portugal Pathways
- Patricia Casaburi and Joana Mendonça of Global Citizen Solutions
Fox News – Wealthy Americans ditch US for ‘golden’ visas in increasingly unexpected regions
Mo Bennis, an associate vice president at Arton Capital, a global financial advisory and consultancy firm, told Fox News Digital that Americans are looking beyond Europe for secondary citizenship.
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“Many Americans are realizing that a second residency or citizenship is the ultimate insurance policy against uncertainty,” said Bennis.
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“This shows how hungry Americans are for optionality,” said Bennis.
Biz News – Malta’s residency programme: A bright spot in Europe’s shrinking visa landscape – Sarah Young
In recent years, numerous European countries have begun to phase out or significantly modify their golden visa programmes. This shift is primarily driven by concerns over housing affordability, money laundering, and the need for stricter immigration controls. Following a European court ruling, Malta was compelled to close its golden passport scheme. However, recent revisions to its Permanent Residence Programme (PRP) now present attractive pathways for investors. In an interview with BizNews, Sarah Young from Sable International highlighted that Malta’s PRP offers lifetime residency for a €375,000 investment, with the added benefit that investors can earn rental income from properties purchased. She also noted that this programme features a faster residency process with lower costs. For South Africans seeking warmth and sunshine, Malta stands out as a desirable year-round destination, especially since English is one of its official languages.
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Yes. It’s interesting because in Malta, there’s also quite a big South African expat community. So, you can even buy your biltong, and you hear Afrikaans in the streets. It’s an interesting place. It’s such a medley and sort of melting pot of different cultures, different people, wonderful foods. It’s very much an outdoors lifestyle, which I think also appeals to South Africans. Great climate. They’ve got over 300 days of sunshine per year. It’s a really lovely spot, and the Maltese are very welcoming and hospitable people too, and so for that reason, I think it does resonate with South Africans who want to have access to Europe but also want to feel at home in a country that’s not so different from what they know and love.
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100%. I think the fact that Malta has now redefined their nationality legislation to offer residency for qualifying investment to high-net-worth individuals who can meet the requirements and all the due diligence. There’s absolutely no reason why that programme would change. It is so robust. The Maltese are also very vigilant in their due diligence and KYC and vetting of individuals, which does make the application process complex and comprehensive, but at the same time, that stands as a testament to why the programme has such a good reputation. So, I truly believe this programme is here to stay. I think it’s got great history behind it. The fact that they continually revise it to make it more attractive to investors also shows that they really value the type of people who are coming to Malta and securing their residency through this programme.
Tech in Africa – Botswana Launches Citizenship By Investment Programme Amid Economic Struggles
To help structure the programme, Botswana has contracted migration-for-business experts Arton Capital, who will assist in finalizing the CBI’s application process and eligibility criteria. Although full details are still pending, the programme will encourage investment in sectors vital to the nation’s diversification away from diamonds, which have traditionally been the cornerstone of Botswana’s economy.
The Edge – The State of the Nation: Malaysia’s second home dream back on track
Anthony Liew Yong Huat, president of the Malaysia My Second Home Consultants Association (MM2HCA), says the programme has gained traction over the past year as confusion over specific details of the new policy has been cleared up.
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“Response to the latest MM2H is better than the earlier version, known as eMM2H, launched in August 2021. But to be fair, eMM2H was introduced during the Covid-19 pandemic,” Liew tells The Edge in an interview.
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Samuel Tan, founder and CEO of Johor-based Olive Tree Property Consultants, says he is seeing a significant return of applicants for MM2H 2024, driven by recent policy reforms and Malaysia’s enduring appeal as a lifestyle destination.
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“MM2H processing agencies have observed a dramatic loss of interest. For example, one agency reported that out of over 500 initially interested applicants, fewer than 50 remained after the new rules were announced. Only 30% to 40% of current MM2H holders are inclined to purchase property under these new conditions, indicating the requirement is a major ‘deal breaker’,” he explains.
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“MM2H processing agencies have observed a dramatic loss of interest. For example, one agency reported that out of over 500 initially interested applicants, fewer than 50 remained after the new rules were announced. Only 30% to 40% of current MM2H holders are inclined to purchase property under these new conditions, indicating the requirement is a major ‘deal breaker’,” he explains.
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S-MM2H applications have slowly picked up, with an estimated 150 cases submitted year to date and approval rate of over 95%, according to Teresa Chai, director of Kuching-based Aramaz Borneo (S-MM2H) Sdn Bhd.
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“While the liquid assets and monthly offshore income requirements are manageable, the RM500,000 FD could be seen as a hindrance for some. By comparison, Peninsular Malaysia’s MM2H requires only US$150,000 for the silver category,” she adds.
Financial Express – Trump Gold Card now 80% cheaper under latest offer
According to Henley & Partners, as of December 2023, there are 29,350 Centi-millionaires in the world. ‘Centi-millionaires’ refers to individuals with liquid investable wealth of USD 100 million or more.
Ein Newswire – Portugal Parliament to Debate Citizenship Law Reforms
“We are closely watching the parliamentary proposals, but our view is that the government is trying to protect Golden Visa investors from certain legislative restrictions, particularly with regard to family reunification, which will remain intact for them,” said Diogo Capela, partner at Lamares, Capela & Associados, a Lisbon-based immigration law firm.
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“As for the deadline for obtaining Portuguese nationality, it is still too early to say whether or not it will actually be changed, as this topic has not even been discussed in parliament yet.
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“We’re not seeing any slowdown in interest or motivation for Portugal’s Golden Visa,” said Steve Philp, Director at Portugal Pathways, which supports private wealth coming to Portugal and investing in the Golden Visa programme. “In reality, the full journey to a second passport and EU citizenship typically takes around seven years right now – five years under the Golden Visa and roughly another 18 months to process the citizenship application.
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“If the timeline changes from five to 10 years, this will have little impact on investors and simply bring it more in line with other EU countries.
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“If anything, we’re seeing more people accelerating their Golden Visa plans, not delaying them.”
Forbes – Portugal Golden Visa: Americans Unaffected By New Changes
The new announcement on real estate taxes is unlikely to heavily impact golden visa applicants. Patricia Casaburi, CEO of Global Citizen Solutions, a consultancy specializing in residency and citizenship by investment, says that the announcement primarily affects property investors rather than golden visa applicants. “Existing applicants with residence permits are considered local residents, so they remain unaffected. Since real estate is no longer a qualifying route for the golden visa program, from an investment migration perspective, the fundamentals remain unchanged.” Casaburi adds that the government has clarified that emigrants are exempt, “demonstrating the government’s balanced approach, protecting those who’ve already committed to making Portugal their home.”
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The court ruling in August found this to be unconstitutional, and as the General Counsel for Global Citizen Solutions, Joana Mendonça explains, “golden visa holders maintain immediate family reunification rights without waiting periods. This differentiation was constitutionally validated in August and explicitly preserved in this approved law.”
