Spain “Cutting Off Its Nose to Spite Its Face”: Investment Migration People in The News This Week
Investment migration people in the news this week included:
- Nuri Katz of Apex Capital Partners
- Armand Arton of Arton Capital
- Jose Cardoso Botelho of Vanguard Properties
- Dani van Vuuren of Sovereign Trust
- Nicholas A. Mastroianni of the US Immigration Fund (USIF)
- Astons
- Kashif Ansari of Juwai IQI
- Kai Dai of the Huawen Foundation
- Amanda Smit of Henley & Partners
Nuri Katz, founder of Apex Capital Partners, which advises on investment consulting and wealth management for high-net worth clientele, branded the Spanish move “populist”.
[…]
“European politicians like to popularise the idea that rich foreigners are coming over and putting our country at risk and making our prices go up. They don’t like it when rich people can afford nice clothes or cars and they cannot,” he told i.
[…]
Armand Arton, CEO of Arton Capital, who advises governments on how to set up investor schemes and residency policies, said ending the visa scheme would not solve the root problem.
[…]
“Historic inflation levels, rising mortgage rates, and increased demand have all combined to drive up house prices, putting pressure on locals already suffering from lower real-terms pay. Blaming residency by investment programmes is a politically attractive but over-simplistic response,” he told iNews.
[…]
He added: “At a time when capital is especially scarce, Spain may be cutting off its nose to spite its face.”
Bloomberg – Golden Visa Felled by Hot Lisbon Property Market It Helped Spark
“Golden visas have nothing to do with rising property prices because they only account for a small percentage of real estate deals,” said Jose Cardoso Botelho, head of Vanguard Properties, one of Portugal’s biggest developers. “The problem of our market is very simple: There’s a shortage of supply and huge demand.”
Business Tech – This country is quickly becoming the next ‘Australia’ for South African expats
Mauritius is rapidly emerging as one of Africa’s big economic success stories, with its growth rate expected to increase by 75% in the coming decade, says Dani van Vuuren, business development consultant at Sovereign Trust.
[…]
“Mauritian tax residents are taxed on Mauritius-sourced income only, and there is no capital gains tax or inheritance tax. In addition, there are no foreign exchange controls, which offers the ideal gateway for international business expansion,” said Van Vuuren.
Nicholas A. Mastroianni, President and CMO, US Immigration Fund (USIF), said, “Although the minimum investment requirement for the EB-5 program has recently been raised, the program has continued to gain popularity in recent years.”
The National Herald – Greek Golden Visa Program Thrives: Chinese Lead, Americans Show Interest as EU Programs Falter
According to recent research conducted by immigration investment firm Astons, online searches for Greece’s Golden Visa Program have increased by a significant 75% in just the past month, as reported by SchengenVisaInfo.com.
[…]
“We anticipate that gold visa applications in Greece could increase by over 50% following the closure of the Portuguese program,” stated Kashif Ansari, Co-Founder and Group CEO of Juwai IQI. He added, “The Greek program is attractive on its own, with very few competitors, and is particularly popular among Chinese applicants. With the resumption of international travel for the Chinese, we expect their participation rate to rise. Currently, China accounts for 62% of all active Greek golden visas.”
The Irish Times – ‘Golden visa’ company owed €48m to loan note holders
Huawen Foundation, owned and operated by Chinese businessman Kai Dai, helped foreign citizens to obtain Irish visas through Ireland’s Immigrant Investor Programme before the scheme was terminated by the Government earlier this year.
[…]
Huawen also owed some €48 million to creditors, who had invested in the company through loan notes issued by the business in order to obtain visas under the Immigration Investor Programme.
Moneyweb – Spike in HNWIs interested in leaving SA
‘One can attribute the spike to the power situation, the volatile currency, economic state and wanting to secure good education opportunities for their children,’ says Henley & Partners’s Amanda Smit.