IM People in The News

“The Price Hike is a Good Thing”: Investment Migration People in the News This Week


Investment migration people in the news this week included:

  • Mark Elliott and Andrew Cummings of Savills 
  • Kashif Ansari of Juwai IQI
  • Global Residence Index
  • Sumi Rengaraj of Ashton Gray
  • Jeremy Savory of Savory & Partners
  • Zaid Al Hindi of Imperial Citizenship
  • Sam Silverman of EB5AN


South China Morning Post – Dubai is the new Portugal for Chinese property investors, lured by golden visas, improving infrastructure, agents say

“We have seen a huge increase in demand for Dubai,” said Mark Elliott, senior director and head of international residential at Savills in Hong Kong. “Dubai has essentially replaced the interest in mainland Europe, specifically Portugal and Berlin, where demand has fallen.”

[…]

The sizzling demand for residential property in Dubai is reflected in its surging home prices, which soared 70 per cent last year, according to Andrew Cummings, head of Middle East residential property at Savills. The consultancy forecasts a 7 per cent growth this year.

[…]

“Dubai invests with a long-term view, and that is why the direction of Dubai is so positive,” he said.

[…]

“As with any investment, you run the risk that prices fall in the future, that expenses climb or that rules change and make residency or investment less attractive,” said Kashif Ansari, co-founder and CEO of Juwai IQI.


Business Insider Africa – Top 10 African cities for global citizens to relocate to

With that said, it is not enough to want to relocate but also to be sure that the residence of choice presents the opportunities lacking from where you are relocating from. As a result, the Global Residence Index, a trusted golden visa & citizenship by investment agency, annually releases its Global HNWI Index.

[…]

Below are 10 of the best African cities for global citizens to relocate to in 2023, the other 4 African cities included in the original 181 list of cities include, Lagos, Nairobi, Addis Ababa, and Luanda.


Business Tech – The countries where rich South Africans can ‘buy’ citizenship – starting from R1.8 million

The wealth report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth, shows that South Africa had 37,400 high-net-worth individuals (HNWIs) at the end of 2023.

[…]

The report’s authors pointed to two main causes for the deterioration of wealth in South Africa: wealth destruction and emigration.

[…]

According to Henley & Partners, residence and citizenship by investment are increasingly becoming popular investment strategies for a wider group of investors.


The Financial Express – US EB-5 visa program sees surge in interest from investors seeking American citizenship

Sumi Rengaraj of Ashton Gray writes an article detailing the EB5 Visa’s recent regulatory changes and how they have affected demand for the program.

The new regulations have sidelined categories, introduced brand new responsibilities for the regional centers, and enhanced fund security and reactivity concerning the processing period for individual applications, legality, and updates. The United States Citizenship and Immigration Services (USCIS) has been at the forefront of making these changes, resulting in renewed interest from overseas investors.

[…]

Since these new regulations are introduced through the RIA, EB-5 investors do not need to maintain their investment for the entirety of their provisional residence. The new regulation dictates the investment must meet the job generation requirement in a minimum of two years, making it a more optimized way for foreign nationals seeking permanent residency.

[…]

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The introduction of the RIA has significantly changed the face of the EB-5 program, which was evident from the increase in I-526 forms processed in 2023. An increasing number of applicants received approvals in their petitions, while there was a significant drop in denials.


Gulf News – Why investors are rushing to secure alternative citizenship

The Caribbean islands have been an attractive option for investors seeking a second citizenship and its benefits. Despite upcoming changes to these sought-after citizenship by investment programmes, Jeremy Savory, CEO and Founder of Savory & Partners, one of the world’s leading Residency and Citizenship by Investment firms, believes that demand will remain strong.

[…]

The price hike is a good thing. In the short term, it will create a lot of demand before the deadline, which may cause delays. But once the prices have increased and the backlog clears, the applications—now almost historically slow—will start to speed up. The adjustment will double the revenue with less volume, resulting in a more efficient system.

[…]

The most crucial factor is that the price war—characterised by countries undercutting each other to attract investors—will end. It created a race to the bottom, eroding the perceived value of Caribbean citizenship. With the new MoA in place, this era of competition based purely on price is ending. Meanwhile, jurisdictions like Turkey, Malta, and Vanuatu do not offer comparable products in terms of price or benefits.


This Day Live – Zaid Al Hindi: Transforming Lives Through Citizenship by Investment

The founder and CEO of Imperial Citizenship, Zaid Al Hindi, discovered his true calling in residency and citizenship by investment industry after his family migrated to Canada as Palestinian refugees. Over the past decade, Al Hindi has facilitated the acquisition of residency or citizenship by investment for over 2,000 clients. He tells Vanessa Obioha about his intention to extend the same assistance to Nigerian High Net Worth Individuals (HNWIs) following the recent opening of his office in Lagos.

[…]

“It allowed me the freedom of mobility, to live in many countries that I never had the opportunity to do before,” he said. “I liked how it changed my life. And I wanted to get into the industry that helps a lot of people change their lives as well and this is what we’ve been doing, helping a lot of families achieve second residency, citizenship, for mobility reasons, for security, for even having better job opportunities.”

[…]

“There’s a lot of different angles you can think about this. These programmes are designed to bring foreign investments to their country. They not only help people get citizenship but also help the citizens of the countries that have designed these programmes. There are a lot of infrastructure projects that are being created in these countries such as hotel projects to improve the tourism of the country which in turn improves every sector and creates more job opportunities for the people. A lot of hospitals have been built because of these programmes, so the citizens are actually taking advantage of what these programmes bring to their country, and how they are improving the infrastructure and the economy as well.”

[…]

As a leader in CBI, Al Hindi has travelled to most countries in the world, and as such sees travel as an opportunity to learn different cultures. For instance, he has been coming to Nigeria since 2014 and even learnt a few pidgin expressions such as ‘how far.’ He has also been to local markets such as the Mushin market — despite objections from loved ones — just to know more about the people.

“I’m the kind of guy that likes to do things myself,’’ he said.


Forbes – Immigrant Intent And The 90-Day Rule: What EB-5 Investors Should Know

Sam Silverman of EB5AN drafts an article discussing the EB5 90-day rule.

Investors interested in the EB-5 program should familiarize themselves with “immigrant intent” before they file their applications. Immigrant intent is a concept in U.S. immigration law that refers to the intent of an individual to permanently reside in the U.S. This concept might come into play in the context of non-immigrant visa applications, where applicants indicate an intent to enter the U.S. for a specific purpose and only for a temporary period.

[…]

Because matters of intent are subjective and difficult to ascertain, U.S. immigration authorities have used the “90-day rule” to assess a person’s intent regarding immigration matters. Under this rule, an individual may be presumed to have willfully misrepresented their intentions if they engage “in conduct inconsistent with their nonimmigrant status within 90 days of visa application or admission to the United States,” according to the Foreign Affairs Manual by the U.S. Department of State.

[…]

Under the 90-day rule, the burden of proof falls on the visa applicant to show their intent behind entering the U.S., Grinberg & Segal also explained. If a person’s circumstances have changed after entering the U.S., they might have to explain these circumstances in detail.

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Ahmad Abbas AdministratorAuthorSubscriberParticipant
Director of Content Services , Investment Migration Insider

Ahmad Abbas is Director of Content Services at Investment Migration Insider and an 8-year veteran of the investment migration industry.

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