Investment migration people in the news this week included:
- Patricia Casaburi, Artur Saraiva, and Joana Mendonça of Global Citizen Solutions
- Eleni Acquarone of Elxis
- Mohamed Bennis of Arton Capital
- Alex Ohnona of Vida Capital
- Tomás Assis Teixeira of CCA Law in Porto
- Jeremy Savory of Savory & Partners
- David Lesperance of Lesperance & Associates
- Rizwan Sajan of Danube Properties
- Marcus Beveridge of Queen City Law
But there are strong lifestyle drivers, too. Patricia Casaburi, of Global Citizen Solutions, says: “Portugal is the top choice for many wanting to relocate in Europe. Lifestyle, and the huge influx of foreigners over the last few years, have made it increasingly easy to find a community to connect with. English is widely spoken.”
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After five years you can apply for permanent residency or citizenship – and there’s a tax-efficient way to get your money back, says Casaburi. “Portuguese non-residents are generally exempt from paying taxes on dividends and capital gains from the venture capital fund, so those who maintain their tax residency in their home country pay no Portuguese taxes on fund distributions or capital gains.”
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Interest from the US has grown, says Eleni Acquarone, of Elxis – a Home in Greece. “In six months we’ve already reached the total number of American citizen applications we had for 2024.”
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“Schengen access is the real driver, but the annual in-person renewal requirement is a burden compared to other golden visa programmes,” says Artur Saraiva at Global Citizen Solutions. The permit is for five years, but requires the holder to confirm their status every year by travelling to Latvia to do this. There is also a long 10-year path to citizenship.
Canada-based Mohamed Bennis, an associate vice president at Arton Capital, told Fox News Digital that many are realizing “true wealth” is measured by “freedom of movement.”
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He added, “Just as gold has historically been a best-in-class investment as a store of value, these visas are also premium assets that provide their holders — and their families — with both tangible and intangible benefits for the long term.”
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Bennis added, “The countries with the most smooth and streamlined processes are often the most popular.”
Alex Ohnona, co-founder of Vida Capital, said, “the constitutional court’s ruling this week actually strengthens the case to move forward now. It signals that golden visa investors will maintain their special status, including family benefits, regardless of broader immigration reforms.”
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Tomás Assis Teixeira, a partner at CCA Law in Porto, agreed that the ruling reinforced the golden visa status. “The Court notably didn’t challenge the privileged treatment of golden visa holders compared to other visa types, and specifically preserved full family reunification rights for golden visa investors, including spouses, children, and dependent parents. This demonstrates Portugal’s commitment to maintaining the programme’s competitive advantages.”
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Joana Mendonça, General Counsel of Global Citizen Solutions, a consultancy specializing in residency and citizenship by investment, added that “by upholding differential treatment for investors and skilled professionals, the court has confirmed that strategic economic policy objectives can coexist with constitutional equality principles when properly structured.”
Jeremy Savory of Savory & Partners pens an op-ed for Forbes.
The popular narrative suggests EU citizenship by investment is dead. This fiction persists because most commentary focuses on what’s been lost rather than what’s evolved. Media coverage of program modifications creates the impression that Europe is shuttering its doors to investment migration entirely.
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As governments worldwide implement wealth taxes and digital surveillance systems, EU citizenship offers legitimate tax optimization opportunities through legal residency planning within the bloc. The ability to establish genuine residence in low-tax EU jurisdictions provides sophisticated wealth preservation strategies.
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The fiction that EU citizenship by investment has disappeared serves those who profit from confusion and complexity. The fact is that pathways remain for serious investors while excluding transactional participants who viewed citizenship as a commodity rather than a commitment.
That notwithstanding, several wealth advisers – including David Lesperance, founding partner at tax advisory Lesperance & Associates – have warned that, by definition, salaried non-doms are likely to have more ties to the UK, making them less likely (or slower) to leave. Thus, a greater proportion of the 20 per cent not included in the payroll data, will have quit the UK.
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“A ‘millionaire’ non-dom dentist in Manchester has a significant amount of life inertia,” he told City AM. “Along with having their entire client base within 10km of their office, they probably own a dental clinic and have significant capital investment in difficult to move equipment.
UAE professionals holding a 10-year Golden Visa will be among the key drivers of Dubai’s property market in the coming years, according to Rizwan Sajan, chairman of Danube Properties.
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“I believe prices will rise as the influx of people to Dubai continues to grow. The upcoming integrated gaming resort at Al Marjan in Ras Al Khaimah will also be a significant development for the local property and hospitality markets,” he said. He added that, barring any geopolitical issues, Dubai property prices are likely to trend upward over the next four to five years.
Lawyer Marcus Beveridge, whose firm specialises in advising high-net-worth investors, said there was a real fear factor for applicants to meet the deadline to employ the money.
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Immigration NZ would audit whether the money had been invested within the timeframe under the scheme. “They don’t want to breach their visas. ” He said the private credit market in NZ was immature and thin, and yet to be tested by an event such as the Global Financial Crisis.
