Why a second passport?
dubai — One of the biggest benefits of an increasingly open and integrated world has been easy mobility of workforce and people across the countries. It has also opened doors for people looking to secure multiple nationalities, or at least the right to work, stay and invest in a second country without losing the rights of the country of origin.
Business immigration, in particular, has picked up steam as high networth individuals look to transfer a part of their capital to more developed countries (through investments in real estate or business, or deposits with banks). It not only allows easy access to secured investments, but also helps create assets in other geographies.
The Cannes International Emigration and Luxury Property Expo (CIELP), dedicated to immigration, luxury real estate, and private financial consulting, helps people a great deal in this regard. “In recent years,
Investment immigration usually relates to purchasing real property or government securities
Ksenia Korzun, General manager, CIELP
this type of emigration has seen growing demand by citizens of the CIS, including Russia, Ukraine, and Kazakhstan. This can be explained by the economic and political situation in these countries. Chinese, Indians, and Middle Easterners, too, are showing great interest in immigrant investor programmes. Residency by investment in a highly developed country is an escape hatch in case of unforeseen life circumstances,” says Ksenia Korzun, general manager, CIELP.
This year CIELP Expo is being held between October 26 and 27 in Cannes, France. The event will bring together leading immigration companies, property developers, consultancies, and auditing firms from more than 30 countries. The exhibition primarily focuses on luxury real estate developers from the countries that offer residency by investment, as well as from the most popular holiday destinations where properties can be purchased as a seasonal residence or to generate income through rental.
CIELP has gained prominence as people increasingly look at obtaining temporary or permanent residency permits or citizenship in the country of choice. “Investment immigration usually relates to purchasing real property or government securities. Each country has its own programmes, which are constantly changing. The required investment amount varies from country to country as well, and ranges from EUR200,000 to EUR2 million or more,” adds Korzun.
Obtaining a temporary or permanent work permit through one of these programmes is much easier than through student or employment programmes. There is less paperwork, fewer formalities, making it a perfect option for well-off people.