Investment Migration People in the News: “Passport King” Chris Kalin is Also a Quant Trader
Investment migration people in the news this week included:
- Dr. Chris Kalin of Henley & Partners
- Veronica Cotdemiey of Citizenship Invest
- Shai Zamanian of the American Legal Center
- Dr. Juerg Steffen of Henley and Partners
- Mimoun A Assraoui of RIF Trust
- Alex Ingrim of Chase Buchanan
- Alena Lesina of Astons
- Sarah Young of Sable International
Chris Kalin is best known for turning the niche business of countries offering citizenship to wealthy foreigners into a multibillion-dollar industry, earning him the nickname “Passport King.”
At the same time, he’s quietly built a sizable fortune with a side bet on quantitative trading.
Kalin, 51, is a co-founder of Arnova Capital, an investment firm focused on systematic trading strategies that returned about 2,000% through June since its inception in the early 2000s, according to documents seen by Bloomberg.
The Zug, Switzerland-based firm, which releases few details, made bets on energy prices during the pandemic as well as the Reddit-fueled GameStop Corp. trading frenzy, helping to increase current assets under management to more than $250 million.
As recent market volatility leaves some investors leaning more on external money managers, Kalin — who has at least $100 million in Arnova — is now focusing on directly managing his own fortune.
“I always thought the only way to preserve wealth is to create more,” Kalin, chairman of citizenship-by-investment advisory firm Henley & Partners, said in a Zoom interview. “One of the best strategies is just to keep going after opportunities.”
Gulf News – Be patient when it comes to Citizenship by Investment programme outcomes
Citizenship Invest CEO Veronica Cotdemiey pens an op-ed detailing the CBI due diligence process and its importance to CBI processes:
These are set up by governments to attract and approve individuals who are investing with legitimate funds. Conducting due diligence is a crucial aspect of CBI programs to prevent abuse by individuals who pose a risk.
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The due diligence requirements may differ among countries and are contingent on both the specific CBI program and the applicant’s nationality. The governments may impose stricter due diligence standards on applicants from countries with a history of corruption or money laundering or that are sanctioned.
Gulf News – Demand for UAE Golden Visa, second passport set to surge among high net-worth individuals
Investors are racing to safeguard their access to global markets in this situation, triggering an explosive boom in residency and citizenship-by-investment industries worldwide, said Veronica Cotdemiey, the CEO of Citizenship Invest.
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She said: “Our data shows a 63 per cent increase in the number of applications for second citizenship from residents of the UAE in 2022 compared to 2021 and a 36 per cent increase in 2023 compared to 2022, respectively.”
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And investors could be coming in from all over, including the US. Shai Zamanian, US-licensed lawyer, EB-5 expert and director of the American Legal Center in Dubai, anticipates a significant influx of American investors who recognise the potential to contribute to the UAE economy and reap the rewards of the Golden Visa. “With an expected surge in foreign direct investment, the number of Golden Visas granted to American nationals is likely to soar alongside the influx of capital,” he said.
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Dr Juerg Steffen, CEO of Henley and Partners, said: “In general, wealth migration trends look set to revert to pre-pandemic patterns this year, with Australia reclaiming the top spot for net inflows.”
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“Wealthy individuals from countries such as Nigeria, Syria, Iraq, Lebanon, Yemen and Egypt are increasingly exploring Residency and Citizenship by Investment programmes to secure their family’s future with a modern day ‘Plan B’s,” said Mimoun A Assraoui, RIF Trust’s CEO and Latitude Group’s Vice Chairman.
CNBC – More Americans are moving to Spain — and paying high prices for real estate
Purchasing or living in a home abroad requires a certain level of wealth, given the cost not only of real estate but overseas travel, as well, said Alex Ingrim, a Florence, Italy-based private wealth manager and senior investment analyst at global financial services firm Chase Buchanan.
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Additionally, make sure your taxes are in order. Although you are rarely taxed on the same income twice, look at the different streams of income and assets you may have in order to understand “who gets to tax what first, whether Spain or the U.S.,” said Ingrim.
The Financial Express – From Maldives to Mauritius, the countries that could soon offer a Golden Visa
Immigration Expert for Astons USA, Alena Lesina, says, “The CBI sector is highly competitive and could be about to get a whole host of new participants offering an even greater choice of destinations for those who want to put down roots in a new country. And whether you’re looking for new surroundings for retirement, or a complete lifestyle change for the family, there are some incredibly enticing pins about to be dropped onto the map.
IOL – South Africans seeking Irish residency through investment still have a chance to make the crossover
According to Sable International’s Investment Migration Manager, Sarah Young, the Irish Diaspora Loan Fund (IDLF) is still currently able to submit applications at this time.
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“The approved fund option is now the only investment path available, and for a limited period only,” said Young.
Ahmad Abbas is Director of Content Services at Investment Migration Insider and an 8-year veteran of the investment migration industry.