Growing Number of “Armageddon Americans”: Investment Migration People in the News This Week

Investment migration people in the news this week included:

• Marcus Beveridge of Queen City Law
• David Lesperance of Lesperance & Associates
• Dominic Jones of Greener Pastures New Zealand
• Christopher Willis of Latitude Group
• Kristin Surak
• Armand Arton of Arton Capital
• William Morillas of Target Estates
• Sarah Khawaja of Burlingtons
• Hed Amitai of Hill Dickinson
• Alena Lesina anhd Denis Kravchenko of Astons 
• Basil Mohr-Elzeki, Rohit Bhardwaj, and Andres Gutierrez of Henley & Partners
• Juan Fernández y Zarza of Golden Partners
• Gaurav Nalawade of RIF Trust

Bloomberg – Golden Visa Revamp Tempts Wealthy to Eye New Zealand as Haven

Marcus Beveridge, managing director at Queen City Law in Auckland, said he’s seeing “massive interest,” mostly from China but also from Japan, Indonesia and the US.

[…]

“A major difference has been waving of the English-language” requirement, he said. “That’s a game changer.”

Barron’s – New Zealand Wants Rich Foreigners to Come Live There. Americans Are Beating a Path.

“There’s a huge increase in demand from the U.S.,” said Dominic Jones, managing director of Greener Pastures New Zealand, which helps those applying for the country’s so-called Golden Visa to find investment opportunities.

[…]

Many U.S. citizens are seeking residency in New Zealand—as well as other countries —as a “plan B” during President Donald Trump’s administration, according to immigration attorney David Lesperance. Many of these are applicants who worry Trump could exact retribution on them or their families for perceived slights, in addition to those who have family members that could face discrimination because of their sexual orientation. Some are concerned about the future of the U.S. economy.

[…]

For those with the money, reallocating $2.88 million in assets from the U.S. to New Zealand for three years—as the new requirements allow—isn’t a heavy lift, Lesperance said. “Depending on foreign exchange and returns on investment over this time, the cost could easily be zero or positive,” he wrote in an April 2 blog post.

Al Jazeera – Why are so many Americans applying for second passports?

“It’s better to have it and not need it than need it and not have it,” said Christopher Willis, managing partner at the Latitude Group, which helps clients secure second citizenship and residency through investment schemes.

[…]

David Lesperance, a Poland-based international tax and immigration adviser, said his American clients include LGBTQ individuals, major political donors and people concerned by what they perceive as authoritarian trends in US governance.

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“I’ve never been busier,” he told Al Jazeera, adding that people who have never thought about leaving the US are suddenly thinking “very seriously” about it.

[…]

Professor Kristin Surak, a political sociologist at the London School of Economics and author of The Golden Passport, said she has seen a rise in the number of what she calls “Armageddon Americans” – those who feel that the country’s direction is so uncertain that a second citizenship is a rational safeguard.

[…]

Global mobility is another appeal. Armand Arton, CEO of Arton Capital, said his clients often combine “bundle” residencies. For instance, pairing a UAE Golden Visa with a European one to ensure broader travel access.

[…]

Basil Mohr-Elzeki, managing partner at Henley and Partners, a residence and citizenship-by-investment specialist, said US nationals are also thinking generationally. “When a citizenship is obtained, it often passes down by descent,” he said. “That creates a Plan B not just for the client, but for their children and grandchildren.”

VNExpress – New Zealand woos wealthy foreign investors with overhauled ‘golden visa’ program

The government is looking to attract high-net-worth immigrants, and Americans are increasingly considering New Zealand because of its laid-back lifestyle, political stability, and lack of crime, said Dominic Jones, the managing director of Greener Pastures New Zealand.

[…]

“If you go back 10 or 20 years, the drivers around safety in particular may not have been that important, but now it’s increasingly on people’s minds,” he said.

The New York Times – In Spain, a Race for the Last Golden Visas

“It’s a political stunt,” said William Morillas of Target Estates in Mijas Pueblo, near Málaga. “It will not do anything to help housing.”

The Telegraph – Trump’s $5m gold card comes with a big tax perk

Sarah Khawaja, of legal and professional services firm Burlingtons, said: “Full details of how the system would work are yet to be disclosed, however, Trump’s stating that further details will be revealed when the visas go on ‘sale’, is a strong indicator that this route will require little more than money.

[…]

“High net worth and ultra-high net worth [people] will jump at the chance to apply. The current routes which require operating a business, similar to our current situation in the UK, are [unappealing] to people with serious wealth and Trump knows that this is a very attractive scheme.”

[…]

Hed Amitai, of law firm Hill Dickinson, said: “Most people with established wealth avoid moving to the US on the basis that once you get a green card you are taxable on a worldwide basis.” They must pay income tax on income made in the US and any earned overseas, including their home country.

[…]

Trump’s gold card will have plenty of competition, with lower price points. Alena Lesina, citizenship and residence permit expert for Astons said: “Other countries offer far more accessible programmes.”

[…]

Dr Kristin Surak, associate professor of political sociology at the London School of Economics, questions how much demand there would be if the financial threshold was higher, adding: “If one looks globally, the demand is not there in large numbers.”

[…]

But Dr Surak said the current numbers don’t support this. “Globally, the average over the past 10 years of individuals willing to hand over $5m for a visa hovers at about 370 families annually. When Australia and the UK ran similarly priced schemes, they saw only a few hundred applications submitted each year.”

[…]

One stumbling block could be the price tag. Lesina said: “The $5m price tag is likely going to be far too high to result in a large enough level of uptake for it to reduce the US’s national debt as it is intended to do.

[…]

Basil Mohr-Elzeki, head of the Americas for citizenship and residency advisory firm Henley & Partners, said the gold card has the potential to be successful as the US remains a very attractive destination for wealthy people, with top-tier education, healthcare and business opportunities.

Euro Weekly – Spain ends golden visa: will it fix the housing crisis or hurt investment?

So was this the right move — or a case of shooting themselves in the foot? While supporters say the decision reaffirms housing as a basic right, critics worry it will discourage much-needed foreign investment. “If high-net-worth individuals can no longer secure residency through real estate, they may look elsewhere,” warns Juan Fernández y Zarza, a lawyer at Golden Partners.

Firstpost – Why Malta’s golden visa is becoming a popular choice for Indians

According to Rohit Bhardwaj, country head – India, Henley & Partners, Malta is strategically located in the centre of the Mediterranean, making it the hidden jewel of the Mediterranean, best known for its rich history, stunning architecture, and beaches.

[…]

“Many UK businesses have relocated to Malta, particularly after Brexit, seeking access to the EU market and a business-friendly environment. Malta’s strong financial services sector, i-gaming industry, and lower cost of living compared to the UK also contribute to its appeal,” Bhardwaj said.

[…]

“MPRP is highly popular among Indian nationals due to its numerous advantages for those seeking EU residency. As an EU member state, Malta grants Schengen Area access, allowing visa-free travel across 27 European countries, which is beneficial for both business and leisure,” said Gaurav Nalawade, country-head at RIF Trust.

Property Wire – Limited interest in Trump’s $5m Golden Visa

Denis Kravchenko, business development director and head of Astons’ Cyprus office, said: “The $5m price tag is likely going to be far too high to result in a large enough level of uptake for it to reduce the US’s national debt as it is intended to do.”

[…]

Kravchenko added: “Trump may face further challenges due to there being other countries in the world that offer far more accessible programmes.

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“However, it’s Greece’s Golden Visa opportunities that are proving most popular of all. Despite the entry investment threshold recently being raised, it is still possible to obtain residency by purchasing property for just 250,000 euros. Somewhat ironically, it’s young Americans who are driving the recent surge in demand for Greek Golden Visas which, in 2024, set a record, issuing 17,194 visas (based on 11 months of data).”

Firstpost – Why Spain has bid ‘adios’ to its popular golden visa programme

Andres Gutierrez, the head of Spain office at Henley & Partners told Firstpost in an email that it is improbable that the elimination of the programme will have any impact on the housing market. He added that less than one per cent of the property purchases made by foreigners have been used as qualifying investments under Law 14/2013.

[…]

William Morillas of Target Estates in Mijas Pueblo, near Málaga, concurs with this. Speaking to the New York Times, he said, “It’s a political stunt. It will not do anything to help housing.”