IM Yearbook 2020/21

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Ho Chi Minh City, Vietnam Nigeria: Window to West Africa Henley & Partners’ office in Nigeria opened its doors in May 2020 and is headed by Stuart Wakeling. Thus far the vast majority of interest is coming from Nigerians, but the idea is that Nigeria will serve as the Group’s West Africa hub. “Because of the uncertain Stuart Wakeling outlook for the Nigerian economy, which has been exacerbated by Covid-19 and civil unrest in 2020, Nigerian clients are predominantly seeking alternative citizenship options to secure their wealth and their families’ future,” says Wakeling. According to him, there is currently significant interest in the Caribbean CBI programmes as for Nigerian high-net-worth individuals these programmes are the most cost-effective way to achieve global access, plan-b alternatives, investment diversification and advantageous opportunities for their families. China: A Competitive Market Denise Ng is the Head of Henley & Partners’ Hong Kong office and responsible for the firm’s North Asian business, which also covers China, Japan, South Korea and Taiwan. However, the majority of clients are Chinese nationals, and the firm also has a presence in Guangzhou, China, while a representative office in China’s capital, Beijing, is due to Denise Ng open in late 2020. “Competition is very fierce in China, with over 20,000 immigration agencies,” says Ng. The agencies offer very competitive pricing and include flexi-options and ‘after sale’ services such as assistance with opening of bank accounts. While real estate-linked investment migration options are favoured by many Hong Kong and Chinese clients, Ng reports that in recent years clients have also been looking more carefully at investment risk, exit strategy, resale market, and rental yield. Hence, Ng explains, the firm is seeing a small percentage of clients enquiring about security options and investment funds. However, it is paramount that these are well-structured, organised, clear and transparent, with processes that are uncomplicated and that include an exit strategy. The Chinese market still holds great potential for Henley & Partners, especially since investment migration has become popular among China’s middle class too due to the growing number of residence programmes with relatively low investment requirements. Vietnam: Rapid Growth In 2019, Vietnam accounted for 20% of Henley & Partners’ business in Southeast Asia. “The pool of wealthy people in Vietnam is expanding rapidly, and this segment of society cares about global travel and welfare policies. As a firm, we consider Vietnam to be a fertile market for growth, similarly to India and Nigeria,” says Alexis Tan, Senior Manager of Henley & Partners Vietnam. Travel freedom, rather than relocation, is a main motivation for many of her clients, which is why they are keen on CBI programmes that provide them with more powerful travel documents. If they do have plans to relocate, Tan explains, they eye the more traditional RBI options such Alexis Tan as Australia, Canada and the US, although there is a long waitlist for the latter. “Interestingly, in the last year we’ve also been seeing a growing trend of Vietnamese high-net-worth individuals enquiring about residence options in Europe, namely Portugal, Switzerland, Malta and Austria.” Tan’s typical clients are successful businesspeople between the ages of 40 and 60, but she also sees younger entrepreneurs who have succeeded early in life. She notes that today plenty of the world’s wealthy are young, astute entrepreneurs interested in increasingly varied and sophisticated investment options. “It’s only fitting that we see many countries adapting their programmes to suit the new global citizen. For example, in Singapore the Global Investor Program introduced some changes earlier this year to include a new category of applicant – next-gen business owners – and a refined family office investment option.” A Maturing Industry In tandem with its clients, the investment migration industry has matured significantly, which has made it easier to recruit individuals to join the industry. “In the past, it was more challenging because the industry wasn’t very well-known,” says COO Kraus. Nonetheless, other challenges remain such as scepticism towards investment migration as well as the lack of regulation. “We are painfully aware that at times industry players do not adhere to the best practice or corporate governance that are in place.” Kraus points to some smaller players undercutting on price because they cut corners on due diligence. Where Do We Really Want to Live? Henley & Partners, likes others in the industry, is predicting a surge in demand for investment migration products in the aftermath of Covid-19 as more states seek to tap into their unique ability to expand their “sovereign equity by increasing the number of citizens who actively contribute to the country’s future well-being,” says Steffen. The firm wants to maintain a strong presence in its existing markets while growing its footprint in its new markets in Africa, India and South America. However, where do people really want to live in the post-Covid-19 era? “As the curtain lifts,” says the CEO, “people will seek to move from poorly governed and ill-prepared places to more proactive countries with greater resilience and better standards of medical care.” This heightened level of awareness in terms of health and security, he anticipates, will continue for the foreseeable future. 94 Investment Migration Yearbook 2O2O/2O21
“Wherever I go, I want to be a change-maker” A direct solution for aspiring entrepreneurs seeking UK residency. As the United Kingdom exits the European Union, there has never been a better time for ambitious changemakers to participate in the country’s rebirth as a new Global Britain. The UK Innovator visa offers a stress-free route for international entrepreneurs to obtain UK residency and a pathway to citizenship. The InvestUK Group has successfully managed over 300 cases, helping clients from over 34 countries to start the next chapter of their life in the United Kingdom. Applicants share their innovative, viable and scalable ideas with InvestUK, who advise on how best to localise their plan for the UK market, provide support with market analysis, introduce to a local co-founder and document their ambitions with a detailed business plan. When they are ready, clients are introduced to an authorised endorsing body prior to recommendation to the Home Office for grant of Entry Clearance. This could be Innovate in Britain (www.innovateinbritain.com), an endorsing body organisation within the InvestUK Group. Innovate in Britain will review the client’s application and if approved, support their business across the duration of their three-year period to UK settlement. InvestUK attracts professionals from all sectors with a wide range of business experience and expertise. This diversity is a huge strength, stimulating conversations, ideas and insights throughout our programmes. It creates an enriched experience for our participants and a foundation upon which we can build the UK’s future prosperity and tackle the greatest challenges facing our society. Rupert Gather, Group Chief Executive +44 (0)20 7629 2522 / rupert.gather@investuk.com For more information visit www.investuk.com/change-makers © 2020 InvestUK (Group) Limited. All rights reserved. A part of
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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
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Interview with BRUNO L’ECUYER, Ch
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When the news broke about covid-19,
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on investment migration, the Commis
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C0% WE ARE PLEASED TO ANNOUNCE THE
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two stages: administrative and judi
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In conversation with KIERON SHARP,
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● Codrington Although initially i
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Interview with GASTON BROWNE, Prime
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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 and 76: A LOCAL PARTNER YOU CAN TRUST. With
Page 77 and 78: WORKING WITH THOSE YOU TRUST THE IM
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: Beijing, China “Wealth creation i
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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