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“ The power of sovereign equity has drawn the attention of numerous governments .
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owing to their beneficiaries staying for more than the average holiday period .
The power of sovereign equity has drawn the attention of numerous governments . In the past year , Egyptian and Russian lawmakers have passed laws creating a citizenshipby-investment program and a residence-by-investment program , respectively , and Slovenia and Kenya have announced they are considering the same . In response to this burgeoning trend , countries with established programs have proposed new options : Vanuatu made its real estate investment opportunity available again and Malta launched a new permanent residence program . With its recent developments in technology , Bulgaria now offers faster processing of applications , and the UAE , which already had a residence program , has now allowed a citizenship counterpart . These are only a few examples — many other countries are likely to follow suit .
The pandemic has caused the landscape to change rapidly . Some innovated . Others adjusted their existing programs . Amid this ever-changing and intricate economic context , the investment migration industry has continued to prosper . Residence- and citizenship-by-investment has proved its appeal , and the latest evolutions in the field provide compelling evidence that the industry is going to thrive in the long term .
ONE SIZE DOES NOT FIT ALL : COUNTRIES ADOPT DIFFERENT STRATEGIES
Interestingly , although all countries wish to attract foreign direct investment , they don ’ t always focus on attracting the same audience . Australia , for instance , which so far has done remarkably well in containing the spread of Covid-19 , launched a Global Talent visa in late 2019 after a 12-month trial period with the main objective of stimulating innovation in the upcoming years . The decision to grant the visa is not based on investment but rather on achievements . Successful applicants with internationally recognized records of exceptional achievements in sports , arts , academia , or research are eligible for permanent residence , but priority is given to professionals specializing in technology-related areas , ranging broadly from the food industry to fin-tech or education . 9
DR . JUERG STEFFEN
Dr . Juerg Steffen has over 30 years of experience in the financial services industry and is well known in the investment migration industry . Before joining Henley & Partners , Steffen was a personal advisor in the family office of one of Europe ’ s wealthiest families . Prior roles include serving as a member of the management board and head of the Wealth Planning department of a private bank in Austria . He has also established and developed a private bank operation for a leading bank in Switzerland , and is the editor of the definitive books on HNW relocation to Austria and Switzerland .
New Zealand , on the other hand , aims at attracting wealth . Prime Minister Jacinda Arden ’ s government proposed a plan making it more difficult , if not impossible for companies to sponsor foreign workers if their qualifications and experience are not in line with the national labor market ’ s needs . The plan allows high-skilled workers to relocate , but its main target group is high-net-worth individuals . Much like Australia , New Zealand has been relatively spared by the Covid-19 pandemic and is now looking at welcoming individuals in search of a good quality of life and a friendlier tax regime .
Sources / 1 https :// www . weforum . org / agenda / 2019 / 01 / when-did-globalization-begin-the-answermight-surprise-you / 2
World Economic Outlook ( April 2021 ) - Real GDP growth ( imf . org )
3 Statistics | Eurostat ( europa . eu )
4
An economist explains what COVID-19 has done to the economy | World Economic Forum ( weforum . org ) 5 https :// qrius . com / are-golden-visas-a-golden-opportunity-for-economic-development /
6 Investment Migration And The State Of Play In Europe - Investment Migration Council
7 From imperial sugar to golden passports : the Citizenship Industry – Migration Mobilities
Bristol
8 Caribbean Investment Migration | Henley & Partners ( henleyglobal . com )
9 Subclass 858 Global Talent visa ( homeaffairs . gov . au )