Investment migration people in the news this week included:
- Henley & Partners
- Ronald Klasko of Klasko Immigration Law Partners
- Pedro Lino of Optimize Investment Partners
- Madalena Monteiro of Liberty Legal
- Armand Arton of Arton Capital
- Martín Hecht of MH Legal Hub
- Benjamin Walker of McCulloch & Partners
- Andrew Ryan of MinterEllisonRuddWatts
- Nicholas Mastroianni III of U.S. Immigration Fund
- Ignacio Donoso and Aarushi Gupta of Donoso & Partners
- Abhinav Lohia of Golden Gate Global
The Economist – The world’s wealthy are migrating like never before
Industry folk now report growing interest in migration among well-off Westerners. Many rich Britons started looking for options after the pandemic. In 2025 they applied to 23 investment-migration programmes run by foreign governments, including America’s EB-5 scheme and programmes in Grenada and Thailand. Elsewhere in Europe, concern about wealth taxes is a prompt. Henley & Partners, a consultancy, publishes an annual list of the top countries millionaires are fleeing from and heading to. Last year France, Germany and Spain appeared for the first time among the countries that repelled more wealthy inhabitants than they attracted.
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But the biggest shift is in America—home to more than a third of the world’s people worth $30m or more, according to Knight Frank, a property firm. “The US has gone from a blip to the primary market,” says Ronald Klasko, a lawyer in Philadelphia. In 2024, having spotted that more Americans were seeking advice about foreign citizenship and residency, he set up Exodus Migration, an investment-migration consultancy. He says that most clients are interested in moving to Europe, because they are concerned about America’s political direction, want an alternative residency or want to be able to travel without an American passport.
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Many governments are facing pressure to increase the diligence of their citizenship and residency programmes, notes Mr Klasko. The big issue is: “Do you as a country know the background of people who you are giving passports to?” In other words, geopolitical uncertainty does not only trouble the rich. But plenty of countries will take them—and plenty of advisers are eager to help them choose.
The Spokesman Review – Portugal golden visa suffers as citizenship wait period doubles
Pedro Lino, chief executive of Optimize Investment Partners, which manages one of Portugal’s leading golden visa funds, said about 40 investors, mostly from the U.S. and Asia, had withdrawn their money since the start of the year due to the changes. That adds up to about €20 million ($23.1 million), and lawyers say thousands more investors are preparing legal action against the state.
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“It’s a significant change that caused investor interest to cool off and triggered some redemptions,” Lino said in an interview with Bloomberg News after returning to Lisbon from a visit to the U.S., where he was promoting the program. “It’s a blow to Portugal’s reputation.”
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“We continue to attract investment, but it’s less than last year and a few investors have decided to exit the program.”
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“Golden visa investors can no longer tolerate any further legislative changes,” said Madalena Monteiro, a Portuguese immigration lawyer at Liberty Legal who represents some of the investors planning to sue the Portuguese state over the changes. “Portugal must understand that if it does nothing to reverse this situation, it will struggle to attract foreign investors whenever it needs them.”
Condé Nast Traveler – Argentina Is Launching South America’s First-Ever Golden Passport in 2026
This will be a key draw for investors and global citizens. “Given its proximity to the United States, and suspected visa-free access to the United Kingdom, Uruguay, and Japan, Argentina’s program will be a very appealing option for those wanting optionality without having to entirely relocate their lives,” says Armand Arton, CEO of Arton Capital and founder of the Passport Index.
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Another key perk is the program’s short approval time. Applications are set to take 30 business days to process, according to Argentina’s Ministry of Economy. This will likely make Argentina’s golden passport “very competitive within the industry,” Arton says. “It could distinguish itself with projected 30-day processing times, rivaling the current market-leading processing times of Caribbean programs, including Saint Lucia, Grenada, and Antigua and Barbuda,” he says.
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Following that logic for Argentina, experts can deduce where officials might want travelers to invest. “Recent country-wide activity suggests that Argentina is looking for investment specifically within the technology, tourism, and renewable energy industries, and it’s possible that the government chooses to strategically funnel capital toward these high-priority sectors,” Arton says. “Alternatively, applicants could be encouraged to invest in a local business, contribute to a state-sponsored bond program, or purchase real estate.”
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Immigration and investment experts expect Argentina’s golden passport scheme to officially launch by the end of 2026. “The next step is the one that actually opens the program,” Martín Hecht of MH Legal Hub wrote in a recent analysis on LinkedIn. “There is no obvious reason it should take much longer.”
The New Zealand Herald – Golden visa holder says tax barrier has stopped further investment and charitable giving; Govt mulls change
Benjamin Walker is head of tax at McCulloch & Partners in Queenstown and specialises in international tax and inbound migrants to New Zealand.
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“While there seems to be a lot of discussion swirling around the PPOA test and AIP visa holders, I don’t think it’s as problematic as it’s made out to be,” he said.
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Andrew Ryan is a partner and tax law advisor at MinterEllisonRuddWatts. He said his firm regularly advises AIP clients around PPOA issues.
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“The base case of a holiday home in New Zealand and spending two to three months a year with no other connections, you’re fine, but once you start making a lot more connections within New Zealand then you do have to look at how extensive those connections are,” Ryan said.
Financial Express – Will EB-5 investors applying for US green cards be exempt from new USCIS consular processing memo?
“In principle, all Green Card applicants, including EB-5 investors, are impacted by the new Memo on Adjustment of Status,” says Nicholas Mastroianni III, President, U.S. Immigration Fund.
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“The EB-5 Reform and Integrity Act of 2022 was the first legislation to grant EB-5 investors the right to file an Adjustment of Status concurrently with their I-526/I-526E visa petition, even before petition approval, if the applicant’s visa number is available and the EB-5 petition is filed concurrently, pending, or approved,” says Ignacio Donoso, Managing Partner, Donoso & Partners.
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“EB-5 investors should understand that this directive does not eliminate adjustment of status as an option. It simply reinforces that USCIS officers may review the applicant’s facts and circumstances more carefully before granting adjustment of status,” says Abhinav Lohia, Chief Revenue Officer, Golden Gate Global.
Financial Express – Bad news for Green Card-seeking Indian investors: US EB-5 visa issuance paused until October
In a previous conversation with the Financial Express Digital, Aarushi Gupta, Managing Director, India Operations, Donoso & Partners LLC, said, “EB-5 investors are among the most thoroughly vetted participants in the US immigration system. Their investments create jobs, stimulate economic activity, and contribute to local communities across the United States.”
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Meanwhile, Ignacio Donoso, Managing Partner, Donoso & Partners, LLC, added in a statement, “The memorandum reinforces USCIS’s existing discretionary authority rather than creating a new statutory standard. Our firm is actively working with clients to prepare comprehensive evidence packages that highlight the economic benefits they bring to the United States. We remain committed to helping investors navigate these developments while continuing to advocate for fair and lawful adjudication of EB-5 cases.”
