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POINTS OF VIEW
Guido George Lombardi:
Investments and security, a comparison
with the United States
by Flavia Bazzano
Guido George Lombardi, former Executive Director of the International
Council for Economic Development, is an entrepreneur in the real estate
field. For the past thirty years, he has been interested in economic politics
and finance between the United States and Italy. Lombardi became known
to the press primarily for his relationship with the President of the United
States, Donald J. Trump, as an advisor. Before the American tycoon crossed
the threshold of the White House, Lombardi managed The Donald’s group
of followers on social media and during his recent visit to Italy, he was the
reference point for the president in Italy. Currently, he lives on the 63rd floor
of Trump Tower.
INVESTORVISA – In addition to your activities for President Trump, you
are a real estate developer. In light of your experience, what do you
believe are the main criticalities in the real estate sector in Italy, as
compared to the United States?
LOMBARDI – With respect to investments in the real estate sector, we see
that many doors are starting to open, for Italian businesses to invest in Italy
as well as for foreign companies investing here too (not necessarily Ameri-
can, and many Chinese). With Trump winning the election in the United Sta-
tes and hence since his inauguration on January 20th until today, the stock
exchange has gone up by $3 trillion. An extraordinary amount and this
money also flow into real estate although of an industrial type, rather than
commercial. Unfortunately for Italy, since unless there is an economic shift
upwards due to political stability (and therefore I imagine after the next elec-
tions), I think it will be difficult for those who are less educated as to risks to
take any initiative. At the present time, the only domestic or foreign players
available to take any initiatives in Italy are those who are willing to take
some risks.
Americans and so let’s just say that with respect to luxury in general
(whether products or real estate) there is always this need. Italy is one of
the top countries in the world, no one wants to invest in luxury apartments
in Beijing.
As you are aware, Malta even offers non-EU investors citizenship
through the purchase of real estate property, plus payment of EUR
650,000 in contributions. Consequently, with approximately one million
Euros, one can become a European citizen. The Other Member States
also offer visas and residency permits but not citizenship. Commen-
cing this year Italy too will grant visas to non-EU investors, but only for
investments in the capital of Italian companies or for donations of pu-
blic interest, consequently real estate investments, whether or not resi-
dential, are excluded. Moreover, strict anti-recycling controls have
been implemented. Do you believe that regulations as strict as the Ita-
lian ones would be a deterrent to big investors or that they could be
considered a positive aspect, such as a guarantee for legality?
It’s a deterrent, compared to other countries. It could be something more
with respect to what there was in the past however not when compared to
what other countries such as Malta or even the United States are offering.
With approximately one million dollars, even here in the States you can have
a special visa which immediately gives you the opportunity to enter as an
investor and you are absolutely free to invest wherever you wish, so in the
commercial, industrial, residential properties or even your own home.
The important thing to consider is that that available capital is what gives
the US the certainty that the person in question is not someone who comes
looking for work. That’s why it’s called an Investor’s Visa. I believe that Italy
should follow the trend and adapt to what the other countries are doing and
not always be behind them in everything.
According to an estimate published by LuxuryEstate.com, Made in Italy
products and even manpower constitute value added in buying and
selling luxury real estate. In the eyes of Americans, is Italy still a place
of excellence?
Absolutely. In fact a few days ago we gave the Eccellenza Italiana Award in
Washington, DC. It was very well received by leading Italians as well as
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