Property, migration companies team up
SOUTH African firm Pam Golding Property’s international division has partnered with global investment migration firm Henley & Partners.
The alliance is expected to provide buyers seeking international property assets with a view to acquiring dual residence or citizenship, an end-to-end service.
The partnership comes when increasing numbers of affluent people are looking to hedge their bets overseas and will benefit South Africans wishing to diversify their investment portfolios by gaining a foothold on the global property ladder.
Nigel Barnes, managing partner of the South African branch of Henley & Partners – a leader in residence and citizenship planning with 27 offices around the world – said the firm was experiencing a rising demand for international residency and citizenship from clients wanting to firm up their future planning objectives, be it from a lifestyle point of view or as a rand hedge in times of economic uncertainty.
Barnes attributed this to a number of factors, from aspirational lifestyle changes and career opportunities to the recent credit ratings downgrades and the potential effects of junk status on the economy.
“A far greater awareness of the vast opportunities presented globally has captured the attention of many South Africans, who are assessing the available options for diversifying their personal interests and investment assets beyond the country’s borders.”
Chris Immelman, head of Pam Golding’s international division, agreed that a number of the country’s super-wealthy were migrating themselves and part of their assets offshore. This did not mean they had lost faith in South Africa.
“These people are not necessarily emigrating. They are merely making the world’s markets work for them, repositioning their assets, and their homes, for a while,” he said.
Barnes confirmed that most of his clients had no intention of relocating, adding that there was no reason to do so. “The very competitive citizenship-by-investment programmes offered by some of the island nations in the Caribbean, for
People are looking to diversify their investment assets beyond the country’s borders
instance, have no residence or visitation requirements.” He said the residence programme of Malta was another example.
Dr Andrew Golding, chief executive of the Pam Golding Property group, said foreign property ownership had always held wide appeal for the affluent. Many top-end buyers were buying seaside residential properties or other “lifestyle properties” abroad not only to provide a holiday destination or a second or third home, but because they represent an “excellent means of diversifying their property portfolios” and securing a sound long-term investment.
“In addition, & Partners means that, for this category of buyer, we are uniquely equipped to provide an allencompassing professional service. Pam Golding Properties is recognised locally and internationally as southern Africa’s leading independent , and most awarded, real estate group. We have an extensive knowledge of the property markets in a selection of the countries currently offering attractive and legally compliant citizenship-by-investment programmes, including Malta, Cyprus, Portugal and Grenada, and we present a customised portfolio of preselected properties to investors based on their specific preferences and criteria.”
Immelman said Henley & Partners was the global leader in residence and citizenship planning. The firm provided a comprehensive service throughout the entire residence or citizenship application process as well as concierge services and support after a client’s residence or citizenship is granted.
“Working in collaboration, then, Pam Golding Properties and Henley & Partners is able to significantly expand the options for wealthy individuals and their families to secure their futures while diversifying their portfolios.”