Fincasa Capital sharpens focus on US$20 billion investment immigration programmes to help GCC millionaires
Fincasa Capital offers the best immigration advisory services to a growing number of immigration applicants in the UAE
Date : Dubai, UAE, June 27, 2021
Fincasa, a Dubai-based investment and immigration advisory, is sharpening its focus on the US$20 billion investment immigration market that is growing by the day as more and more countries are currently offering immigration, 2nd home, permanent residency, citizenship, and passports to attract investment under various schemes.
Following the COVID-19 pandemic, an increasing number of UAE residents from different parts of the world are currently applying for Citizenship by Immigration (CBI), Residency by Immigration (RBI), 2nd Home, Permanent Residency as well as US business immigration programme EB-5, etc.
Out of a total of 7.6 billion people on earth, more than 272 million people currently live away from their home countries, including immigrants, refugees, and others. As many as 100 countries, or more than half of the world’s sovereign states, currently offer these facilities to attract the High-Net-worth Individuals (HNWIs) and Ultra-High Net Worth Individuals (UHNWIs) to boost their respective economies.
Global wealth is expected to rise by 43 percent over the next decade, reaching US$291 trillion by 2028, according to New World Wealth’s Global Wealth Migration Review 2019. This will be driven by strong growth in Asian influenced by countries such as Vietnam, India, and China.
More than 5,000 people migrate from their homeland to their adopted countries through investment immigration, according to Investment Migration Council (IMC) that generates more than US$20 billion per annum, including US$3 billion generated through CBI programmes.
“The increased mobility among businessmen and professionals from the emerging economies necessitates international travel. However, they need to stand in queues for visa every time they seek to travel abroad and sometimes obtaining a visa for business travel or leisure becomes difficult. As a result, these HNWIs prefer to secure citizenship of those countries that allow them to travel visa-free to most of the countries in the world,” says Varis Sayed, CEO of Fincasa Capital,a major player in investment and immigration advisory services.
“For this privilege, they do not mind shelling out as much as US$100,000 to US$200,000 to ‘buy’ a new passport for visa-free travel across the world. The empowerment of the urban middle class in developing economies is increasing demand for international travel – that is primarily driving the demand for the 2nd passport. Fincasa has seen an uptick in demand for citizenship applications by 100% because of the pandemic.
“Many countries see this as a source of foreign investment that, if utilized properly, could generate employment and help grow their respective economies.”
According to the latest data, investors added €647 million to the Portuguese budget in 2020. Another €126 million participants in the Portuguese program of residence permits have invested in the economy during the first quarter of 2021.
Investment in businesses on the UK residence permit program amounted to 432 million pounds sterling or about 600 million U.S. dollars. The amount is approximate: to calculate the number of approved applications and the minimum amount of investment – 2 million pounds sterling. But in fact, the country’s income is 15-20 percent higher.
Data from the Global Wealth Migration Review report specifies that participants in CBI programmes account for about 30 percent of all dollar millionaires in the world.
The specialized services of Fincasa Capital are designed to assist all their private clients in obtaining residency and citizenship in different parts of the world and become global citizens.
Its residency programmes are a perfect solution for both their local as well as international clients who are constantly on the move and are on the lookout for new avenues for business expansion and foreign investments.
Fincasa is a global financial services advisory firm offering second residency by citizenship through investment with knowledgeable employees and industry experts offering sound investment advice to obtain second residency or citizenship.
“As a business, we offer a range of services right from Foreign Direct Investment, Portfolio Management Guidance and Business Advisory Services to exploring varied investment opportunities. However, investment immigration or citizenship by investment is our core business and we offer customized and personalized advisory services, based on the client’s needs,” says VarisSayed.
“At Fincasa, we have a team of experts who are available at all times to give their guidance and support to resolve all your queries. We are known for our transparent processes and our end-to-end services right from documentation to immigration advisory services, guiding their clients on the financial and entrepreneurial aspects of the CBI process – so, in essence, aiding beyond residency in a country.”
Investment migration has various impact on economic development of countries and can contribute to achieving the United Nations’ Sustainable Development Goals (SGDs). Nonetheless, it is worth reiterating that CBI and RBI programmes have generated as much as €60 billion euros since 2008.
The economic importance of revenues accruing to CBIs can be high in small island countries considered by international development agencies as economically and ecologically vulnerable. These economies are often affected by high levels of external debt, dependence on tourism flows and remittances from workers abroad and the incidence of ‘climatic hazards’ such as hurricanes, changes in ocean levels, acidification and other phenomena.
The share of CBI revenues to GDP fluctuates from between 4 and 5 per cent of GDP in Malta and Cyprus to 15 to 18 per cent in St Kitts and Nevis and Dominica. Furthermore, the share of government revenues from CBI income is over 30 per cent in Antigua and Barbuda, Vanuatu, Dominica and St Kitts and Nevis. These resources have made an important contribution to the funding of reconstruction of public infrastructure in the Caribbean islands.
Grenada broke its own record: in 2020, the country earned nearly $100 million from the citizenship program. Antigua and Barbuda and Vanuatu are not far behind, with revenues of $115 million and $106 million, respectively.
Dominica’s citizenship programme revenue was $1.2 billion for 2017-2020. At the same time, the number of applications is growing every year. Between July 1, 2019, and June 30, 2020, 2,215 participants in the programme received a national passport.
Fincasa is a global financial advisory firm offering services for second Residency and Citizenship through Investment. Its strength is our determination to deliver outstanding results with speed and integrity.
Based in Dubai, UAE, its service-oriented mindset has enabled its professionals to consistently meet the high expectations of its valuable clients.
Fincasa philosophy is that the client’s success is the company’s responsibility and a major contributing factor to its reputation. It follows a simplified process that assists clients to keep themselves updated as well as easily track the status and assess information anytime from anywhere.
The company’s highly qualified team of industry experts bring a wealth of knowledge and valuable insights that have assisted it to reach the pinnacle in its domain. Over the years, its specially-curated solutions have assisted investors, entrepreneurs and HNW individuals obtain citizenship and residency in the country of their choice.
The company offers a range of services right from Foreign Direct Investment, Portfolio Management Guidance and Business Advisory Services to explore varied investment opportunities.