POSITIVE
DEVELOPMENTS
At the same time, positive investor
migration developments have been
seen across Europe’s programs.
These measures are reflective of
increasing HNWI figures and market
confidence in growth. Cyprus has
relaxed the financial thresholds of
its citizenship program, reducing the
level to a potential 2 million euros for
those investing in real estate.
Also, government bonds can make
up to 500,000 euros of a combined
investment. Although a requirement
to obtain a permanent residence
card has been introduced, this can
be done simultaneously with the
main application to cause minimal
disruption. In Estonia, investors are
now eligible for a new temporary
residence permit if they make a
direct investment of at least 1 million
euros into an Estonian company.
Previously, investors could only enter
Estonia on the basis of an employer-
sponsored visa.
In France, investors, entrepreneurs
or innovators may now be eligible
to apply for residence for up to
4 years based on a number of
possible investments including:
direct economic investments of at
least 300,000 euros, entrepreneurial
investments of at least 30,000
euros and innovative economic
projects with no specified minimum
investment. Italy too has introduced
a new visa category for investors,
offering residence for 2 years
initially, renewable for 3-year
periods. Investment thresholds are
set at 500,000 euros for start-up
companies and 1 million euros for
those investing in equity instruments
of companies based and operating
in Italy. Elsewhere, Luxembourg’s
investment-based residence permit
is in force as of March this year.
Turkey has enjoyed a vast growth
in HNWI population and introduced
its own CBI Program early in the
year. Turkey’s program will provide
for citizenship to be granted to
those meeting investment criteria
starting at $1 million including: real
estate purchases of at least $1
million, fixed capital investments
of at least 2 million euros, local bank
deposits of at least 3 million euros,
government bond purchases at 3
million euros, or the creation of at
least 100 jobs.
BREXIT
NEGOTIATIONS
The UK is of course in the midst
of increasingly challenging Brexit
negotiations – the rights of UK
nationals in the EU, EU nationals
in the UK, and the status of the
European Court of Justice decisions
in the UK post-Brexit are all still very
unclear. It is expected that after the
UK exits the EU in March of 2019
and EU nationals who wish to come
to the UK for work or live will have to
qualify for entry to the UK – perhaps
in a similar way to non-EU nationals
currently do. As for EU nationals
already in the UK, the government
has set out plans that would protect
the rights of most EU nationals who
are in the UK at either a specified
cut-off date – which is yet unknown
– or the date that Brexit actually
occurs, whichever comes first –
through a compulsory registration
or application process. However,
very little detail is known and the
reality may look quite different to
this published policy.
As a result of these uncertainties
we see a significant increase in
appetite from HNWIs within the EU
itself – with some HNWIs looking
to investor and entrepreneur
migration solutions globally
and even within the EU itself to
guarantee free movement rights.
Malta and Cyprus are becoming
increasingly popular. Malta for
example offers immediate EU
citizenship af ter 12 months
residence for those anxious to free
movement rights post Brexit.
The UK’s Tier 1 categories have
proved resilient against Brexit
uncertainties. Statistics show not
EB5INVESTORS.COM 138