Fincasa, a Dubai-based investment and immigration advisory, is sharpening its focus on the growing $20 billion investment immigration market as 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,” said 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 $100,000 to $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.”
Investment in businesses on the UK residence permit program amounted to GBP432 million ($600 million). 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% 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,” said Varis Sayed.
“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.” – TradeArabia News Service