18 UGLOBAL IMMIGRATION MAGAZINE
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 ? We have been paperless for 20 years and increasingly unhooked from physical offices , so COVID has not changed how we work . We miss personal interaction at conferences .
TRENDS : What are some trends you are seeing in the global RCBI industry now ? While COVID has dampened the international aspirations of some , it has caused others to be more resolute about immigrating through investment . The U . S . program has experienced significant stagnation from increased investment amounts , slower processing and visa availability , and uncertainty about expired legislation and litigation about key rules .
LOCAL : How was your country ’ s local investment program impacted ? Did any regulations or criteria change in the program because of COVID ? No changes to rules because of COVID per se .
FUTURE : Looking ahead , what do you anticipate happening this year and in the near future in this global industry ? Investment based immigration will accelerate as COVID worries thaw and key rule sets are solidified .
MARCO MAZZESCHI
Mazzeschi S . R . L
Italy
IMPACT : How have you seen that the pandemic has impacted the global RCBI industry ? We experienced an increasing interest in the Italian investor visa , which previously was not very popular . Italy also has an “ entrepreneur visa ” for those who want to invest 500,000 euros and create three jobs but , unfortunately , no clear guidance has ever been issued by the government . Wide discretion on the issuance of the visa is left to each consulate and this visa has never been adequately publicized . Our government has announced plans to enhance policies and incentives to attract more foreign investors , and this could be an effective tool for the recovery of the Italian economy .
As for the changes that are here to stay , I think most companies will need to adopt a more flexible work policy , allowing staff to work remotely . This also means that companies need to invest permanently in technological tolls to help employees to manage their work differently . Companies will need to invest in providing them with adequate training .
TRENDS : What are some trends you are seeing in the global RCBI industry now ? Most countries are implementing more restrictive and selective immigration policies . Highly skilled and educated individuals are scarce and they will be in demand , while there is a surplus of low-skilled workforce . Many people have therefore realized the importance of having a second passport or residency , in order to maintain the freedom to travel and move to a different country . Obtaining a passport or residency in an EU country is particularly valuable , because holders can obtain the right to move and settle freely in any EU country .
LOCAL : How was your country ’ s local investment program impacted ? Italy is a country attractive for its lifestyle and for being an EU member . Italy ’ s investor visa has become more popular also for the tax incentives that our government has introduced to new residents . The government is also investing to digitalize rural areas and this program is attracting many digital nomads and people who can work remotely . Even though Italy , like most other countries , has not yet implemented a specific visa for digital nomads , I think that some changes will occur in the near future to take into account this new phenomenon .
FUTURE : Looking ahead , what do you anticipate happening this year and in the near future in this global industry ? I expect a further growth of the industry . In the EU , CBI programs of countries like Malta and Cyprus have received opposition and are currently being disputed by the European Commission . On the other hand , I think RBI schemes will become even more popular , because many countries will try to attract more investment to help their economies to recover after the pandemic .
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 ? The pandemic and the necessity of working from home gave us the opportunity to speed up the investments in technology , digitalization of many processes , and a datadriven team culture . I asked my team to be more flexible and ready for different tasks depending upon the new kind of queries we receive from clients . Permanent flexibility will be the hallmark of the future workplace . I am also trying to instill in my team the culture of lifelong learning ; they need to understand that the skills and knowledge you have now will constantly need to be updated .