UGLOBAL . COM 17 a residence permit from other countries became a necessity .
ADAPT : How did you adapt your business or ways of working due to COVID ? Do you think some of those changes are here to stay ?
To be honest , in our law firm , we didn ’ t have to change or adapt much due to COVID .
Before the pandemic , Next Lawyers was already a globalized law firm . Our lawyers were already used to working remotely from different parts of the world , facing multiple time zones and working online most of the time .
Even from one of four offices , online meetings were already common with multiple clients or investors from the different corners of the world .
Of course , we had to implement some changes in the offices and structure , especially on the administrative services , to be more efficient in times when most day-to-day tasks became difficult .
in the world ). In fact , in the first trimester of 2021 , the investment increased 2,1 % to 122,2 million euros . In March 2021 , investment totaled 36,758,269 euros , 31.5 % more than in the same month of 2020 .
FUTURE : Looking ahead , what do you anticipate happening this year and in the near future in this global industry ? We truly believe that the industry will grow considerably . The pandemic has had us all rethinking the way we live and work and , most importantly , our priorities . Nowadays , mobility has become a priority . New trends in the way we live and work , such as the digital nomads , will have a great impact on the way people plan their future , making the idea of moving abroad more accessible .
ROBERT DIVINE
Baker Donelson
United States
However , I don ’ t consider those a big change to our business , our procedures or way of working , since we were already prepared for it and doing it . The only change that I foresee and hope is not here to stay is those glasses / barriers / protections separating people ’ s desks or meeting rooms .
TRENDS : What are some trends you are seeing in the global RCBI industry now ? We are witnessing an increase in demand from clients from all over the world . People are now interested not only in the big , vibrant cities but also in smaller towns where raising a family can be simpler , comfortable , and safe . Also , I believe that people will now focus more on the quality of the health care services provided in each country and their costs .
European countries where the social state of the law is very important and implemented will definitely attract even more interest from the RCBI industry .
Lastly , I expect that working remotely will become one of the rules of the future of work and employment . Thus , people will choose to live in countries where they have a good quality of life , welfare , and safety , but that are also more tax efficient . A tax efficiency system or regime like the Portuguese nonhabitual tax regime will become an even more decisive factor in choosing the country to migrate and live .
LOCAL : How was your country ’ s local investment program impacted ? Did any regulations or criteria change in the program because of COVID ? The pandemic has had a positive effect on the reputation of the Portuguese residence by investment program ( RBI ). Our program was already very well seen internationally , but the way Portugal handled the COVID-19 pandemic has brought even more attention to it . Portugal has proved that it is not only a safe and politically stable country , but it also has a fantastic public health system ( 22nd best health care system
IMPACT : How have you seen that the pandemic has impacted the global RCBI industry ? COVID has impeded full capitalization and development of projects to which investors had committed in popular industries . This has jeopardized investor compliance with two key requirements under the EB-5 / USA rules : expenditure of capital as planned and creation of jobs . And secondarily , return of capital is less certain . Reduced productivity and availability of adjudicators at USCIS and consulates has deeply slowed adjudications .
For those seeking capital from investors , COVID has reduced the frenetic travel for conferences and shifted attention to online conferences and direct contacts .