Global Citizenship Seminar - Phnom Penh ǀ September 2018 - Henley & Partners
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Global Citizenship Seminar Phnom Penh ǀ September 2018
Agenda 1. Welcome and Introduction to the Investment Migration Industry 2. Keynote Address from the Cambodia Chamber of Commerce 3. The World’s Leading Residence-by-Investment Programs 4. Travel Freedom through Caribbean Citizenship-by-Investment Programs 5. European Citizenship-by-Investment Programs 6. New Citizenship-by-Investment Programs in Moldova and Montenegro 7. Questions and Answers
Welcome and Introduction to the Investment Migration Industry
UHNWI Citizenship Trends
Considering Considering a second Already holding a
Region Emigrating passport / dual second passport / dual
Permanently nationality nationality
AFRICA 19% 27% 28%
ASIA 19% 26% 24%
AUSTRALASIA 6% 12% 26%
EUROPE 19% 20% 31%
LATIN AMERICA 30% 45% 41%
MIDDLE EAST 19% 35% 39%
NORTH AMERICA 10% 16% 24%
RUSSIA & CIS 45% 50% 58%
GLOBAL AVERAGE 21% 29% 34%
Source: Knight Frank: The Wealth Report Attitudes Survey 2018
HNWI’s Around the World – Movements (2016~2017)
There has been an increase in the number of HNWI’s relocating
2016 2017
82,000 95,000
Canada United Russia
+5,000 Kingdom -3,000
-4,000
France Turkey
-4,000 -6,000 China
-10,000
United States Caribbean
+9,000 +3,000
UAE India
+5,000 -7,000
Brazil
-2,000
Australia New
+10,000 Zealand
+1,000
Source: www.visualcapitalist.com
Focus Clients
Residence and citizenship planning High net worth individuals
anand their families
Program development for
countries Governments worldwide
Reach Track Record
Over 30 offices around the Over 20 years’ industry
world experience
Global presence Investment migration pioneers
Global Presence
Antigua and Barbuda Dubai (UAE) Malta South Korea
Australia Grenada Philippines Switzerland
Austria Hong Kong Portugal Thailand
Canada Jersey Singapore Turkey
Croatia Latvia St. Kitts and Nevis United Kingdom
Cyprus Lebanon St. Lucia Vietnam
Dominica Malaysia South Africa
`
`
Comprehensive Advisory Process
Introduction
Focus: of client
• Develop a medium to
long-term residence and/or
citizenship strategy Ongoing strategy Understand
optimization client profile
• Provide a fully-managed process for
busy people
• Implement and manage all
administrative tasks when able. Fly to Implement Define
visit, meet at their office or home strategy strategy
• Procure the desired citizenship and/or
citizenship
Henley & Partners Henley & Partners office nearest to
office in the target country the home country of the client
Unique Track Record in Government Advisory
Henley & Partners is the leading firm worldwide advising
governments on residence and citizenship programs
Its assignments range from strategic consulting to assistance
in the design, set-up, and operation of residence- and
citizenship-by-investment programs
Selected Henley & Partners Government Advisory Milestones
Design, implementation and
Review and design of the new
international promotion of the Swiss Review and reform of UK
investment migration program for
Residence Program, which consists of Tier 1 (Investor) Rules in
Latvia, which was launched in 2010.
agreements with a number of cantons Great Britain and launch of
Widely recognized as one of the most
and is linked to the the new program
advanced and successful residence
lump-sum tax facility offered in the in April 2011.
programs in Europe.
Swiss tax codes.
2006 2010
1997 2009
Design, implementation and
international promotion of the
citizenship-by-investment program
of St. Kitts and Nevis, the most Design and partial implementation
successful citizenship program in the (including design of application forms)
world until 2013. The firm also of a planned
assisted in the negotiation of a visa- citizenship-by-investment program in
waiver agreement between St. Kitts Montenegro.
and Nevis and the EU.Selected Henley & Partners Government Advisory Milestones
Mandated by the Government of Antigua Appointed by the Government of
and Barbuda to design and set up their Grenada to revitalize and enhance its
new citizenship-by-investment program. citizenship-by-investment program,
Contracted by the government to promote making it competitive in the
the program internationally. international market.
2011 2013 2017
2012 2016
Review and reform of Canada’s Federal Design, implementation and international
Appointed as global concessionaire
Investor Immigration Program, promotion of a new citizenship-by-investment
for the Thailand Elite Residence
including recommendation to increase program in Malta.
Program to assist with the global
required investments (together with The Malta Individual Investor Program
promotion of the program;
HSBC Global Investor Immigration is run by the government with
development of a web-based
Services), which was implemented Henley & Partners as concessionaire under a
application portal; and
according to our recommendation. public services concession. It is the world’s most
enhancement of the program.
successful citizenship program.The Difference Between Citizenship and Residence
Citizenship
• The right to vote
• Ability to pass citizenship on to future generations
• Allows international travel
• Affords protection from the state
Residence
• The right to live, work, travel and study in a country
• Usually comes with conditions or requirements
• May give some travel rights
• Can be withdrawn
• Is likely to affect tax statusThe Leading Investment Migration Programs
Henley & Partners assists individuals and their families to obtain citizenship and/or residence
of the following countries:
St. LuciaThe World’s Leading Residence-by-Investment Programs
Residence-by-Investment
The term ‘residence-by-investment’ describes the policies
of countries in which foreign persons may be granted a
residence permit or card through capital contributions in
the country
Several countries have These programs are used
programs in place to to encourage wealthy
attract foreign high net foreigners to reside in
worth individuals in their country
return for residenceReasons for an Alternative Residence
Quality of Life Security
• Better quality of life, climate and • Safe alternative in times of instability
personal security • More privacy in investment banking
• Cleaner environment • A defined and stable legal environment
• Better healthcare and transport systems
Education Taxes
• Graduation at high-ranking schools • Often the only way to reduce the tax
and language skills are becoming burden and regulatory restrictions
increasingly important as the basis for legally is to relocate
a successful careerAustralia Residence-by-Investment Program
Australia — Introduction
• Population: 24.65 million
• Multi-cultural society
• Liberal approach to immigration — it welcomes
people to work and invest
• A high quality, affordable lifestyle
AustraliaThe Business Innovation and Investment Program
(visa subclauses 188 & 888)
• For people with a successful business career and a genuine
1. The Business Innovation Stream commitment to be involved as an owner in a new or existing
business in Australia (188A)
• For people with a successful record of qualifying business or
2. The Investor Stream eligible investment activity who make a designated
investment of AUD 1.5 million in a state or territory of
Australia (188B)
3. The Significant Investor Stream • For people who make an investment of at least AUD 5 million
into a complying investment in Australia (188C)
• For business entrepreneurs who have secured a legally
4. The Entrepreneur Stream binding agreement to receive venture capital funding in
Australia (188E)
Involves a two-stage visa process: Applicants initially obtain a four year provisional (temporary) visa
and then, after demonstrating a certain level of business or investment activity, they are eligible to apply
for the permanent Business Innovation and Investment (subclass 888) visa.2. The Investor Stream
(visa subclasses 188B & 888B)
Applicants must make an investment of AUD 1.5 million into a state or territory government
bonds for four years
Applicants must also meet the following requirements:
• Be less than 55 years of age
• Meet the business skills points test pass mark
• Have at least three years’ business or investment experience
• Have net business and personal assets of at least AUD 2.25 million
After four years, applicants must meet the following requirements to be eligible for PR:
Have continuously held the investment for four years
Have a genuine and realistic commitment to continue in business or investment in
Australia
Have held the provisional visa and lived in Australia for at least two years in the last four
years3. The Significant Investor Stream
(visa subclasses 188C & 888C) (1/2)
Applicants must make an investment of AUD 5 million into a complying investment fund and maintain their
investment for at least four years
• At least AUD 500,000 must be invested into a Venture Capital fund
• At least AUD 1.5 million must be invested into an emerging companies fund
• The balance of AUD 3 million can be invested into other eligible assets
Applicants must also meet the following requirements:
Must meet standard health and character requirements
Must lodge an expression of interest and be sponsored by a state or territory
No upper age limit or minimum English requirement
No need to satisfy the business skills points test
After four years, applicants must meet the following requirements to be eligible for PR:
Have continuously held a minimum of AUD 5 million in a complying investment fund for at least four
years
Have been in Australia for a cumulative period of 160 days over the four year period of the provisional
visa
Applicants may be eligible to renew the visa up to two times – for two years each time3. The Significant Investor Stream
(visa subclasses 188C & 888C) (2/2)
The SIV program commenced on 24 November 2012 – as of 31 March 2018
• 1,974 SIV visas have been granted
1,644 (subject to regulations prior 1 July 2015)
330 (subject to regulations post 1 July 2015)
• AUD 9.870 billion has been invested in Complying Investments
Top five source countries Percentage of total visa applications
China 88.1%
Hong Kong 1.9%
Malaysia 1.1%
South Africa 0.9%
Vietnam 0.9%The Business Talent Program
(visa subclause 132)
1. The Significant Business • For highly successful business people who wish to invest in
History Stream or start a significant business in Australia (132A)
2. The Venture Capital • For entrepreneurs with a high-value business idea who have
Entrepreneur Stream sourced AUD 1 million in venture capital from an Australian
company or institution specified by the Immigration
Minister (132B)
These are permanent residence visas — there is no provisional visa stage.Australia — Citizenship
The applicant must:
• Lived in Australia as a lawful
resident for at least four years,
including one year as a
Applicants must pass the
permanent resident*
Australian Citizenship Test,
• Pass an English test involving which focuses on Australia’s
reading, writing, listening and values, history, and traditional
speaking** and national symbols
• Pass a citizenship test An applicant can fail the
citizenship test only three times
• Show the steps they have
taken to integrate into and
contribute to the Australian
community
* Likely to change to four years of permanent residence
** Legislation to introduce the English test is currently before the Australian parliament.Canada Quebec Immigrant Investor Program (QIIP)
Québec Introduction • Largest City: Montreal • Total Area: 1,542,056 km2 • Population: 7,568,540 • One of ten Provinces of Canada • Quebec is Canada's largest province by area and its second-largest administrative division • The climate around the major cities is four-season continental with cold and snowy winters combined with warm to hot, humid summers
Québec Investment Requirements
• The main applicant and their spouse must have legally obtained a personal net worth
exceeding CAD 2 million
• The main applicant must invest CAD 1.2 million for a period of five years at no
interest (0%) under one of the two available Immigrant Investor Programs. The
investment is government-guaranteed and will be repaid in full at the end of the
investment period
o A Canadian financial intermediary would be able to provide financing with
an investment amount from CAD 350,000
• The applicant must demonstrate proper business experience, as defined under the
regulations. In essence, the applicant must have previously managed or operated a
qualified business for at least two out of five years preceding their application.
Businesses in one of the following categories are acceptable:
o Businesses in agriculture, trade or industrial
o A legitimate business enterprise employs at least two full-time employees
o International office, government or departments or agents
• No Criminal RecordQIIP Advantages • No language requirement • No requirement to be a business owner • No business plan requirement • The only investment migration program managed by the government and guaranteed to repay the investment • Permanent resident (PR) for family (does not include dependent children over 21)
Permanent Residence and Citizenship Time spent living in Canada • A permanent resident can live outside of Canada but must live in Canada for at least two years in a five-year period. If you live outside of Canada for longer, you may lose your permanent resident status. • You must show that you will be able to meet the minimum of 730 days of physical presence in Canada within five years of the date you became a permanent resident. Citizenship In order to be eligible for citizenship, the requirement is a physical presence in Canada for at least 1,095 days during the five years right before the date of signature of the application.
Portugal Golden Residence Permit Program
Portugal — Introduction
• Population: 10.3 million
• Lisbon, Oporto and Guimarães have been
European Capitals of Culture
• The Algarve is a scenic treasure with a long
Portugal
coastline of golden beaches and dramatic cliffs
• A Portuguese residence card allows you to live,
work, and study in PortugalPortugal — The Golden Residence Permit Program
• A capital transfer
• Purchase of real estate
Qualifying Options
• A venture that creates 10 jobs
• Alternative investments
• Allowing non-EU citizens to apply for a temporary residence permit based on capital
contributions to Portugal
• Since the program’s launch, over 6,400 permits have been issued, families who have
started their applications to date have committed almost EUR 4 billion in foreign
direct investmentPortugal — Residence-by-Investment Program Requirements
Current Options
1. Capital transfer into Portugal (flexible
A. EUR 1 million; or
investments)
B. EUR 500,000
2. Purchase of real estate anywhere in Portugal
Additional Options 1. Capitalization of small/medium enterprises (SME)
D. EUR 500,000; or 2. Real estate purchase in an urban regeneration area
E. EUR 350,000; or 3. Real estate purchase older than 30 years
F. EUR 250,000 4. Investment into research activities
5. Artistic production or natural heritage
Government fees over the five-year permit period:
• EUR 11,830 for main applicant
• EUR 10,530 for each dependent aged 16 or overPortugal — Statistics
(8 October 2012 to 31 August 2018)
Total Approval = 6,498
• 61% China
• 9% Brazil
• 4% South Africa
Investment Route
• 95% Real Estate
• 5% Capital Transfer
Real Estate
• 98% opt for EUR 500,000Portugal — Requirements for Citizenship
Yes
• A separate application for each person aged 18 and over
• Letter from government stating you were a recognized resident
in Portugal for six* or more years
• Reasonable knowledge (A2 level) of the Portuguese language
• Must not have been convicted of a crime
• Tangible connections with the Portuguese community:
o Portuguese bank accounts, income, investments
o Residential address and ownership
o Memberships of sports or leisure clubs, library, etc.
o Contribution of money and support to local charities
* The Portuguese Nationality Law was recently amended by the Law no. 2/2018, of July 5 to allow an individual who has been
a legal resident in Portugal for just five years to apply for the Portuguese Nationality. This Law is not yet in force, since the
Portuguese Nationality Regulation is also to be amended accordingly.United Kingdom Investor Immigration Program
United Kingdom — Introduction
• Population: 65.64 million
• One of the most attractive places in
United Kingdom
the world to live and do business
• International business environment —
London is the financial capital of the world
• World-renowned schools and universities
• Well connected with direct flight connections
to almost all major cities in the world
• Strong and stable rule of lawUnited Kingdom — Investor Immigration Program
• Part of the points-based system, the
Different Program Options:
Tier 1 Investor category is for high net
worth individuals who want to make a
• GBP 10 million or more
financial investment in the UK
may apply for PR after two
• Quick processing time of one to six weeks years
• No requirements on English • GBP 5 million or more may
language for the first five apply for PR after three
years years
• Applicants are permitted to be
gainfully employed or study in the • GBP 2 million or more may
UK apply for PR after five
yearsUnited Kingdom — Permanent Residence Status
Conditions for Permanent Residence (PR)
Residence Required English Requirement No Expiry Date
• No more than 180 days • All applicants must pass • PR, once granted, has no
spent outside the UK in a ‘Life in the UK’ test expiry date
any 12-month period (very easy, multiple choice)
• PR will remain in force
as long as the holder does
not spend more than two
years consecutively
outside the UKUnited Kingdom — Conditions for Citizenship
Each applicant must
Unlike for PR, each
spend, on average, 75% of
individual is on their
their time in the UK over
own time-line
five yearsUnited States of America US Investment Immigration Program EB-5
United States — Introduction • Population: 314 million • Multi-cultural society • One of the most attractive places in the world to live and do business • World-renowned schools and universities
The EB-5 Immigrant Investor Visa
• Permanent residence status (green card) for foreign investors who are willing to make a
significant investment
• Purpose is to stimulate the US economy through job creation
The options are:
Passive investment
Active investment
Min. USD 500,000 into a ‘Regional
Min. USD 1 million or USD 500,000
Center’ (investment vehicle), which
(in a high unemployment area)
assumes the responsibility of
Creating at least 10 jobs
creating the 10 jobs
The capital will get refunded after the holding
period (5–7 years)US — Permanent Residence Status
Three months prior to conditional
PR expiry:
After approval of the application:
Submit evidence that:
Conditional PR (green card) valid • Full investment has been made;
for two years and
• 10 jobs have been createdUS — Citizenship
An application for citizenship can Conditions are:
be made following a five-year
residence period • Basic knowledge of English
• Basic knowledge of US
government and historySingapore Global Investor Program
Singapore — Introduction
• Population: 5.7 million
• One of the world’s best places to live
Singapore
• It is frequently voted best Asian city to live in
• One of the wealthiest and safest countries in the
worldSingapore Global Investor Program
Investors who are interested in starting up a business or investing in Singapore can apply
for Singapore Permanent Residence (PR) status through the Global Investor Program
(GIP).
To be eligible one must:
The applicant can choose one of the
• Prove an entrepreneurial track following options:
record of at least three years;
and • Financial commitment of at least
SGD 2.5 million in either (1) a new
• Own at least 30% of a business entity or (2) to expand an
company; and existing business entity; OR
• A financial commitment of at least
• Company must have a turnover SGD 2.5 million in a GIP-approved
of at least SGD 50 million in the fund that invests in Singapore-based
prior year and an average of at companies
least SGD 50 million for the last
three yearsSingapore Citizenship
Upon GIP approval, applicants are
• An applicant who is granted PR
for two years is eligible to apply
issued with a PR and Re-Entry
for Singapore citizenship
Permit (REP) for five years.
Following the first five years, the
• Maximum of one year absence
from Singapore out of the two
REP will be renewed for another five
years prior to the date of
years if the applicant and his/her
application
dependents have resided in
Singapore for more than half of the
time.
• Singapore does not allow dual
citizenshipLeading Citizenship-by-Investment Programs
Citizenship-by-Investment
The term ‘citizenship-by-investment’ describes the
policies of countries in which foreign persons may gain
citizenship through significant capital contributions in
the country
Several countries The intention is to
have programs in build a long term
place to attract affinity
foreign high net between their
worth individuals in country and
return for highly successful
citizenship peopleReasons for an Alternate Citizenship (1/2)
Visa Waivers Retirement
• Opens travel to countries previously • Freedom to retire in a safe country
restricted by time-consuming visa without worrying about changing
application processes immigration laws
Independence Mobility
• Be able to travel or have the option to • Freedom of movement when some
relocate at any time nationals are overly exposed to
physical or financial threatsThe Henley Passport Index 2018 Top Global Ranking 2018:
The Henley Passport Index 2018 Southeast Asia Ranking 2018:
Reasons for an Alternate Citizenship (2/2)
Protection Tax Planning
• Increased privacy in banking and • Citizenship is one of the tie-breaker
improved physical security rules in most double tax treaties
Expatriation Security
• To renounce citizenship another • Guarantees a secure and truly
citizenship must be acquired first permanent alternative place to go; the
permanent right to resideCitizenship‐by‐Investment Programs
There are currently only seven countries which offer citizenship programs that
provide a direct legal route to citizenship based on capital contribution and which
have passed Henley & Partners’ country due diligence
Antigua & Barbuda Malta
Austria Moldova
Cyprus St. Lucia
Grenada St. Kitts & Nevis
Other countries have similar provisions. However, in those countries there is no
established or clear practice and/or the programs are not transparentTravel Freedom through Caribbean Citizenship-by-Investment Programs
Henley & Partners — Residence and Citizenship Insight Session 2017
Caribbean ꞏ Citizenship-by-Investment Program Requirements
• Antigua & Barbuda USD 100,000
• Dominica USD 100,000
Minimum Contribution
• Grenada USD 150,000
• St. Lucia USD 100,000
• St. Kitts & Nevis USD 150,000
OR
• Antigua & Barbuda (LTO) USD 200,000
• Dominica USD 200,000
Real Estate Options • Grenada USD 350,000
• St. Lucia USD 300,000
• St. Kitts & Nevis USD 200,000
• **Real Estate Options: Additional government fees are applicableDependents
Child Dependents Age Adult Dependents Age Siblings
Antigua & Barbuda Up to 28 years old From 58 years old Not allowed
Dominica Up to 30 years old From 55 years old Not allowed
Up to 30 years old
Grenada (Don’t need to be enrolled From 55 years old Yes – if unmarried
in school)
Up to 30 years old
St. Kitts & Nevis (Don’t need to be enrolled in From 55 years old Not allowed
school)
St. Lucia Up to 25 years old From 65 years old Not allowed
• Succession investment that can be handed down through generations
• Future spouses may also get the citizenshipComparison of Caribbean CBI Programs
Antigua and Barbuda Dominica Grenada St. Kitts and Nevis St. Lucia
Government
4 to 6 months 3 to 5 months 4 to 6 months 2* to 6 months 4 to 6 months
processing time:
Visa-free access to: 149 countries 136 countries 141 countries 151 countries 142 countries
UK, UK, China, Russia, UK, UK,
Important visa-free Schengen, Schengen, UK, Schengen, Schengen, Schengen,
travel destinations: Singapore, Singapore, Singapore, Singapore, Singapore,
Hong Kong Hong Kong Hong Kong Hong Kong Hong Kong
Minimum real USD 200,000*** USD 200,000 USD 200,000 /
USD 350,000 USD 300,000
estate purchase**: (available till 31 October 2018) USD 400,000
Must hold period for Seven
Five years Five years Three years Five years
real estate: years/ Five
years
Minimum
USD 100,000 USD 100,000
contribution**: (available till 31 October 2018)
USD 150,000 USD 150,000 USD 100,000
Physical presence Five days within None
None None None
required in the the first five years
country:
*A fast-track processing option (“Accelerated Application Process”) is available for an additional due diligence fee payable to the government
** These fees represent the minimum contribution for a single applicant and would still incur property transaction costs and/or misc. government fees, due diligence fees and
processing fees that differ per program
*** The minimum investment requirement remains at USD 400,000, however, two applications from related parties can make a joint investment, with each applicant investing
a minimum of USD 200,000 in order to qualifyEuropean Citizenship-by-Investment Programs
Malta Individual Investor Program
Malta — Introduction
• Population: 431,618
• Among the earliest settlements in the world,
7,500 years of history
• EU member since 2004, member of
Portugal
the Schengen area since 2007
• Citizens enjoy visa-free travel
Malta
to 182 countries
• Citizenship gives the right of employment
and establishment in all 28 EU countries,
EEA, and SwitzerlandThe Malta Individual Investor Program (MIIP) • Launched in March 2014 • Over EUR 1 billion has been added to Malta’s Foreign Direct Investment pipeline • High level of due diligence; only highly reputable applicants admitted • Citizenship is granted to reputable applicants who pass due diligence and make a significant economic and social contribution to the country • The program has been designed by Henley & Partners and is managed together with the Government of Malta
Main Requirements
• EUR 650,000 for main applicant
Contribution to the
• EUR 25,000 for spouse
National Economic and
Social Development Fund • EUR 25,000 for each dependent under 18 years
• EUR 50,000 for each dependent over 18 years
A residence in Malta for at • Lease a property: annual rent over EUR 16,000; or
least five years • Purchase of a property: value over EUR 350,000
Contributions to approved • EUR 150,000 into bonds for at least five years
financial instrumentsFirst Steps to Securing Legal Residence in Malta
The applicant must hold residence status in Malta for a minimum of 12 months prior to the
issuance of a certificate of naturalization.
As a minimum, this means:
• Holding a valid residence permit card for 12 months, which provides visa-free travel access
to the Schengen area
• Renting or owning a residence in Malta
• Establishing links with Malta (coordinated by Henley & Partners)
• Spending a number of days in Malta in order to arrange the residence card, tender
biometric data, pledge the Oath of Allegiance, etc.Cyprus Citizenship-by-Investment Program
Cyprus — Introduction • Cyprus is a small island located in the Eastern Mediterranean Sea. A former British colony, Cyprus became independent in 1960 • Cyprus has a dynamic and flexible economy; and has established itself as a business and service center for shipping, banking, and commerce Cyprus • Full EU member state enjoying all the benefits that EU citizenship offers including right of work and establishment in all 28 EU countries
Cyprus Investment Programme • Citizenship of an EU member of state, and as an EU citizen you enjoy the right to freedom of movement, freedom to work and study, and security within the EU social and legal system • Full citizenship with passport is granted to the applicant and family • A Cypriot passport allows visa-free travel to 171 countries including Canada, Hong Kong, Singapore, and the UK • Flexible options with no residence required and granting of citizenship within 180 days • A simple documentation process for investing, not donating, your wealth
Main Requirements
• EUR 2 million — Real estate purchase option
Qualifying options; real
• EUR 2 million — Local business activities option
estate or financial structure*
• EUR 2 million — Participation in alternative investment funds
A residence in Cyprus forever**
• EUR 500,000 in private residence if a ‘residential real estate’ was not the
qualifying investment property
Due diligence and • EUR 7,820 per applicant over the age of 18
government fees • VAT and other taxes depending on selection
*You may select a combination of any of the above qualifying options amounting to at least EUR 2 million. This
combination may include a maximum contribution of EUR 500,000 in special government bonds of the Republic of
Cyprus (excluding those on secondary market)
**If qualifying by a EUR 2 million private residence purchase, you may liquidate after three years and replace your
private residence with a EUR 500,000 propertyComparison of European CBI Programs
Cyprus Malta
Processing time: 6 to 8 months 14 to 18 months
Visa-free access to:
171 countries 182 countries
Important visa-free travel destinations: Canada, Europe’s Schengen, UK, Canada, Europe’s Schengen, UK, US,
Singapore, Hong Kong Singapore, Hong Kong
Best passport for travel:
14th best worldwide 7th best worldwide
Minimum contribution: EUR 2 million* EUR 880,000*
Must hold period for assets:
Three years Five years
Application and process complexity:
Least complicated Complicated
Time required in the country: Two mandatory visits and no physical presence Two mandatory visits and at least 14 days in
requirement 12 months from starting your application
* These fees represent the minimum contribution for a single applicant and applicants would still incur additional property transaction costs and/or misc. government
fees, due diligence fees and processing fees Henley & Partners — Residence and Citizenship Insight Session 2018New Citizenship-by-Investment Programs in Moldova and Montenegro
Location Map
Moldova Citizenship-by-Investment Program
Moldova — Introduction
• Population: 4 million
• In addition to its strong agricultural and food-
processing industries, Moldova is one of the
world’s main wine exporters
• Moldova has entered into an association
agreement with the EU and is aiming to become
Moldova
a candidate country for EU Membership
• Citizens enjoy visa-free travel to 121 countries,
including Russia, Turkey, and the countries in
Europe’s Schengen Area
• Moldova has spearheaded some of the most
impressive advancements in the tech worldMoldova Citizenship-by-Investment Program • Launched in 2018 • Full citizenship with passport is granted to the applicant and family • Citizenship in a European country with an open culture, a continental climate and a charming landscape • A reasonable contribution amount and a highly efficient application process • High level of due diligence; only highly reputable applicants admitted • Citizenship is granted to reputable applicants who pass due diligence and make a significant economic and social contribution to the country • The program has been designed by Henley & Partners and is managed together with the Government of Moldova
Main Requirements
• EUR 100,000 for a single applicant
Non-refundable • EUR 115,000 for a couple
contribution to the
Public Investment Fund • EUR 145,000 for a family of four
• EUR 155,000 for a family of five or more
Government service provider and licensed agent fees amount to EUR 35,000 per application.Moldova vs Montenegro CBI Programs
• Moldova: Henley & Partners was recently awarded the mandate to design and implement the Moldova program which is
expected to officially launch in November 2018 but we will start accepting applications from August 2018
• Montenegro: Henley & Partners is an approved marketing agent for the Montenegro program which is due to be officially
launched in Q3 2018 / Q1 2019
Program Comparison Moldova Montenegro
Population / Area 4 million / 33,846 km² 650,000 / 13,812 km²
Government processing time 3 to 4 months To be determined
Passport ranking 44th best worldwide 42nd best worldwide
Visa-free access to 121 countries 123 countries
Key visa-free travel European Schengen Area, UAE,
European Schengen Area, Russia, Turkey
destinations Singapore
Minimum EUR 100,000¹ EUR 250,000¹ / EUR 450,000¹
contribution/investment (non-refundable contribution) (investment)
Must hold period for assets N/A To be determined
¹ These fees represent the minimum investment/contribution for a single applicant. Applicants would still incur additional property transaction costs and/or misc.
government fees, due diligence fees and processing fees
Henley & Partners — Residence and Citizenship Insight Session 2018Comparison of European CBI Programs
Program Comparison Cyprus/Malta Caribbean Moldova Montenegro
Government processing
time
6 to 18 months 4 to 6 months 3 to 4 months To be determined
Visa-free access to 171 to 182 countries 130 to 150 countries 121 countries 123 countries
Australia, Canada,
Key visa-free China, Schengen, UK, Schengen, Russia, Schengen, UAE,
travel destinations
Schengen, UK, US,
Singapore, Hong Kong Turkey Singapore
Singapore, Hong Kong
EU Member
(Settlement freedom throughout Yes No No No
EU)
Minimum investment/ EUR 1 million – USD 100,000 – EUR 100,000¹ EUR 250,000¹ or
contribution EUR 2 million¹ USD 200,000¹ EUR 450,000¹
¹ These fees represent the minimum contribution for a single applicant and applicants would still incur additional property transaction costs and/or misc.
government fees, due diligence fees and processing fees
Henley & Partners — Residence and Citizenship Insight Session 2018Questions and Answers
Your Partner for Residence and Citizenship
Advising hundreds of
clients every year on Our unique knowledge
Henley & Partners
residence and citizenship and experience
The Leader in Residence
is your advantage
Mandated by governments and Citizenship Planning
worldwideDominic Volek CA (SA) IMCM Alexis Tan, IMCM Managing Partner, Head Southeast Asia Senior Manager Henley & Partners Singapore Pte. Ltd. Henley & Partners Singapore Pte. Ltd. 36 Robinson Road 36 Robinson Road City House, Level 14-06 City House, Level 14-06 Singapore 068877 Singapore 068877 Telephone +65 6438 7117 Telephone +65 6438 6116 Email dominic.volek@henleyglobal.com E-mail alexis.tan@henleyglobal.com Internet www.henleyglobal.com Internet www.henleyglobal.com
You can also read
