IM Yearbook 2020/21

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WORKING WITH THOSE YOU TRUST THE IMPORTANCE OF EXPERIENCED INSURANCE PARTNERS Insurance is an often overlooked and underaddressed topic in the investment migration industry, and there are compelling reasons to work with a knowledgable insurance provider, write Mark Jr and Keith Laferla. As the world continues to fight a global pandemic, amidst economic and environmental issues, the importance of mobility has never been felt more strongly. With thousands of flights cancelled daily and airlines struggling to keep afloat, the question arises as to the importance of safeguarding both one’s personal accomplishments as well as those that are business-related. The need for dual or multiple citizenship has become more evident, and highnet-worth individuals (HNWIs) are looking into long term solutions arising for imminent issues they are facing as a result of the pandemic and its impact on related markets. Complex Requirements The complexity and the number of requirements required by wealthy individuals to apply for programmes that enable them to expand their citizenship or residency, such as CBI and RBI, mean that they cannot proceed with applications without the assistance of family offices or migration specialists who are very experienced in dealing with similar requests, applications and demands. Such providers must also have the technical know-how to do so, especially with more complex and technical requirements such as insurance, which requires both expertise and adequate licensing. As may have become more evident through the pandemic, each industry is intertwined with a network of conjoined markets, and when dealing with CBI & RBI applicants, amongst other clients, it is important for those industries to have the same level of understanding and dedication, especially when dealing with HNWI who may have demanding requirements or/and schedules. Here are the top 4 reasons to work with a reliable, experienced and proven partner within the CBI industry. 1. The Fine Print The details specific to insurance covers for such clients consist of a whole list of requirements that necessitate policy providers to have experience in order to comply correctly due to the programme’s particular requirements as well as very fine print. Failing to have an insurance partner who understands these requirements may mean having applications held up at a later stage. 2. Ahead of the Game It’s also important that partners chosen are involved within the CBI & RBI industry and are aware of the updates and changes in the industry especially with regards to regulation. Those providers who are not fully equipped or knowledgeable about the industry may decline assistance with such applications due to the misconception that clients coming through these programmes are automatically considered high risk. 3. Lost in Translation Similarly, providers whose work is not regular within the CBI & RBI industry may not be as fast or reliable as clients would expect the process to be due to their inexperience of working with clients in the industry. For example, such providers may not have staff who can accommodate their clients by providing services in that client’s own language, or they may not be accustomed to going out of their way to meet with partners or clients outside of normal business hours to present the required documentation. 4. At your Service Existing providers in the industry understand the importance of issuing legal documents or policies within a short period of time as well as settling any pending issues or insurance claims at the earliest. This is simply the level of service that high-net-worth individuals expect, and providers in tune with these expectations should have the setup available to satisfy them. About Laferla Laferla and its related services have joined the CBI & RBI industry upon the introduction of the IIP programme in Malta in 2014 and have worked with a number of HNWIs and families throughout the years. Their expertise and qualifications in the industry mean that each member of the Laferla team is well-versed with the specific requirements of the clients that come through such programmes, and are thus able to provide professional risk assessment services. The majority of accredited agents have already chosen to work with Laferla and subsequently earn a fair referral fee, and in turn, have allowed the firm to assist over 2,000 IIP and MRVP applicants to date. Laferla’s in-house HNWI experts and second-generation owners, Mark Jr and Keith Laferla, also provide advisory services to HNWIs, their family offices and service providers on insurance matters outside of Malta. Both members of the Investment Migration Council and qualified by the Chartered status from the Chartered Insurance Institute of London, Mark and Keith are able to bring their experience to the table and suggest methods that governments offering RBI and CBI programmes may use to reduce any potential exposure to state care systems, for example healthcare and pension systems, by introducing insurance requirements within their programmes. Investment Migration Yearbook 2O2O/2O21 75
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IM INVESTMENT MIGRATION Win-Win Pat
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from IMC Education and Training: Gi
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60 62 63 65 68 70 75 76 83 89 91 92
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INDATA Key Facts and Figures 100-60
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750 Million People Would Like to Mo
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INDUSTRY OVERVIEW DOUBLING DOWN ON
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A Changing Market China has long be
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What’s your economic outlook for
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400+ MEMBERS FROM 55+ COUNTRIES Int
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Covid-19 is upending the investment
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Interview with KRISTIN SURAK, Assis
Page 26 and 27: Interview with BRUNO L’ECUYER, Ch
Page 28: When the news broke about covid-19,
Page 31 and 32: on investment migration, the Commis
Page 33 and 34: C0% WE ARE PLEASED TO ANNOUNCE THE
Page 35 and 36: two stages: administrative and judi
Page 37 and 38: In conversation with KIERON SHARP,
Page 39 and 40: ● Codrington Although initially i
Page 41 and 42: Interview with GASTON BROWNE, Prime
Page 43 and 44: What are SDGs? They are a set of 17
Page 45: Another feature of investment migra
Page 48 and 49: ADVERTORIAL VCA boasts a specialize
Page 50 and 51: WHAT’S GOING ON IN… Programme U
Page 52 and 53: Europe Europe’s attractiveness as
Page 54 and 55: Southeast Asia Southeast Asia is th
Page 56 and 57: Interview with ALEX MUSCAT, Malta
Page 58 and 59: Simplicity. Safety. Sophistication.
Page 60 and 61: INVEST IN PARADISE. MAKE IT HOME A
Page 62 and 63: FIRST PERSON BOB KRAFT, Chairman, P
Page 64 and 65: LESSONS FROM LOCKDOWN MRVA SEES PRO
Page 66 and 67: RISK PROFILES CHANGE Don’t Be the
Page 68: Impact on the IM Industry Countries
Page 71 and 72: These programmes are not going to b
Page 73 and 74: IN THEIR W,RDS “I decided to foll
Page 75: A LOCAL PARTNER YOU CAN TRUST. With
Page 79 and 80: Due diligence has long been a thorn
Page 81 and 82: There is scope to introduce a minim
Page 83: United Kingdom United States Turkey
Page 86 and 87: Economic Impact Economically, Seixa
Page 90 and 91: Lose yourself… …and regain your
Page 93 and 94: HOW WE CONDUCT IN-COUNTRY CHECKS IN
Page 95 and 96: Beijing, China “Wealth creation i
Page 97 and 98: “Wherever I go, I want to be a ch
Page 100 and 101: INVESTING IN A GL BAL Rupert Gather
Page 102 and 103: In conversation with PARAG KHANNA,
Page 104: THE IMPORTANCE OF EB-5 Due Diligenc
Page 107 and 108: MARC AUDET PRESIDENT AND CEO AURAY
Page 109 and 110: KIERON SHARP CHIEF OPERATING OFFICE
Page 111 and 112: FRÉDÉRIC VILLA MANAGING DIRECTOR
Page 113 and 114: ROGELIO CACERES FOUNDER & CEO RCG G
Page 116: Save the Date The Investment Migrat
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IM Yearbook 2020/21

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