UGLOBAL . COM
19
connect with much more people on the same day in different time zones , allowing a much closer relationship with our clients and partners .
TRENDS : What are some trends you are seeing in the global RCBI industry now ? Definitely the increase in the demand for safer countries , not only in a social perspective but also in terms of health care and mobility . Having a Portuguese residency card , for instance , would mean — even under COVID restrictions — free access to more than 25 different countries for the holder and their family members . Also , with the phenomenon of cryptocurrency investment and mining on the rise , countries like Portugal that do not charge taxes on this kind of income and where the speed of internet and technology allow for good performances become destinations of choice .
SARA SOUSA REBOLO
Caiado Guerreiro
Portugal
IMPACT : How have you seen that the pandemic has impacted the global RCBI industry ? In Portugal , on the one hand , we have had a negative impact in terms of the delays in the applications , analysis timings , and lack of appointments due to COVID restrictions . However , on the other hand , the excellent results in dealing with the pandemic turned Portugal into a very safe and desired destination , leading to a significant increase in the demand for the Portuguese immigration programs . Now , with the beginning of the tourism season and with the borders almost fully opened — mostly powered by the Portuguese initiative EU COVID-19 Passports for Travel — we believe that the number of new applications and transactions will increase .
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 ? Remote work and video conferences were the main trend caused by COVID at the office level . It was something that we already used to do , but since 2020 , it has become the daily rule . With the return to normalcy , remote work will naturally decrease but video conferences are here to stay . They brought new efficiency to the work model ; they enable us to
LOCAL : How was your country ’ s local investment program impacted ? Did any regulations or criteria change in the program because of COVID ? In terms of the process , not really . In Portugal , the first stage of the program already didn ’ t require the presence of the applicant . Naturally , in terms of timing , the program suffered some delays with the cancelation of appointments and the suspension of the services due to public health reasons . However , the Portuguese government was always very fast at implementing measures and replies to similar situations ; a restructuring of the current immigration services already being in progress , which is creating huge expectations in terms of an increase in efficiency . The government will also introduce some changes that are not related to COVID in January 2022 , where some investment options will become expensive and others , like real estate investments for habitational purposes , will be subject to geographic restrictions to protect the local residential communities and attract more investment to less developed areas . This will mean ( and it already means ) a running for the last 2021 opportunity to benefit from the current regime , but also , the emergence of new and different business opportunities outside major cities . There are more and more international companies settling in Portugal to develop these projects because they believe they will be of interest to foreign investors . Portugal is a territorially small country and therefore there are , in fact , no great distances between north / south , east / west .
FUTURE : Looking ahead , what do you anticipate happening this year and in the near future in this global industry ? I foresee an increase in countries that will start offering this type of programs ( as a way of overcoming the economic impact of COVID ), consequently , more competition between the respective regimes and conditions . On the other hand , it will be necessary to bring investment immigration up for international discussion , due to the lack of regulation and the need to prevent , in a proportionate and harmonized manner , money laundering and terrorist financing with other immigration routes . These are themes that are increasingly relevant with direct impact on societies . If governments do not respond and present the concrete rules and the direct positive effects of the programs , they will not have the support of local communities .