Immigration, foreign real estate, financial consulting – how is it connected?
Obtaining a second citizenship or status of permanent residence / residence permit, the withdrawal and preservation of capital, the declaration of assets and income in developed countries – these issues are becoming more and more important for wealthy people (High Net Worth Individuals) who live in countries with an unstable economic and political situation . On the eve of the annual international exhibition in Cannes at the Cannes International Emigration and Luxury Property Expo, we asked several questions to her general manager Xenia Korzun.
– Ksenia, tell us briefly what business and investment emigration are?
– It’s very simple, it is a mechanism for obtaining the status of permanent residence / residence permit (permanent / temporary residence permit) or citizenship in your chosen country. Business emigration involves investing assets in a business (opening a new or buying an existing company), and investment is the purchase of real estate, government securities. Investment amounts for different programs and in different countries can vary from 200 thousand euros to 2 million or more. Such programs are designed for a wealthy category of citizens who have achieved a certain success and are looking for opportunities to improve the quality of life and business conditions. Often, obtaining the necessary status of permanent residence / residence permit / citizenship for such programs is much easier – fewer requirements for documents, more loyal requirements for knowledge of the language or even their absence, completely different terms and so on.
– Is there really an increased demand for such emigration? From which countries the main part of the requests?
– People who have achieved a certain level of success in their country are trying to transfer part of their capital to developed countries (banks, real estate, business) and, having received the status of a residence permit / permanent residence or citizen, have free access to them at any time. In recent years, due to the economic and political situation, there has been an increase in demand for such emigration from the CIS countries (Russia, Ukraine, Kazakhstan). Great interest in investment programs has been and remains among the citizens of China, India and the countries of the Middle East.
– And which countries are the most interesting? And why?
– The list of the most desirable countries has not changed for decades. These are the USA, Canada, Great Britain, Australia, the countries of the European Union. That is, states that have a high level of security and democracy, political and economic stability, etc. Also, investment programs in such countries as Cyprus, Malta, the countries of the Caribbean, and Portugal are being actively promoted in the market.
– Many countries prohibit dual citizenship. How is this problem solved?
– The status of permanent residence / residence permit is not a citizenship, but simply permission to reside / stay permanently in a country as citizenship, and this right can be extended for decades. Basically, this is the status and the most popular. If desired, at some point a person can finally move to this country and, having lived for several years, apply for citizenship. Therefore, dual citizenship is no problem. And the negative perception of the word “emigration” is rather far-fetched and politicized.
– Your exhibition also specializes in luxury real estate. Can you say a few words about this, why the “elite”?
– With regard to luxury real estate, I would like to clarify that in the first place we invite developers from those countries in which immigration programs are provided through the purchase of real estate. As well as from countries that are popular among our guests for real estate investments, this is mainly resort real estate, which can be used for personal purposes or leased to generate income. The wording “elite” does not mean that we will have multi-million castles and palaces. For example, it can be panoramic apartments from 200-300 thousand euros, villas or houses from 500 thousand to several million. That is, CIELP Expo is designed for people who have a fairly high level of income and can afford such investments, but we are not talking about the level of owners of huge corporations with billions of assets.
Recently, real estate investing is the most reliable and comfortable way to preserve its assets, which does not require special knowledge.
– What do you mean by private financial consulting?
– As for private financial consulting, here we have in mind the whole range of financial, asset, tax, etc. management services. When buying securities, opening a business, purchasing real estate in all developed countries, there are strict rules for declaring a source of income, paying taxes, and properly issuing financial papers. For example, without a correct explanation of the source of income, you may simply not be allowed to conduct a transaction and not open a bank account. In order to avoid unpleasant surprises, it is certainly better to seek the help of professionals.
– October 26-27 in Cannes will be held your exhibition Cannes International Emigration and Luxury Property Expo. Any expectations, predictions?