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Citizenship and Residence Planning
The difference between Citizenship and Residence
Citizenship
• The right to vote
• Ability to pass citizenship on to future generations
• Allows international travel
• Affords protection from the state
Residence
• The right to live,work, travel and study in a country
• Usually comes with conditions or requirements
• May give some travel rights
• Can be withdrawn
• Is likely to affect tax status
Citizenship-by-Investment
The term ‘citizenship-by-investment’ describes the policies of countries in
which foreign personsmay gaincitizenship throughcapitalinvestments or significantcapital contributions in the country
Several countries have
programs in place to attract foreign investors in
return forcitizenship
The intention is to build a long term affinity between
their country and highly
successful people
Citizenship-by-Investment Programs
There are currently only seven countries which offer citizenship programs that provide a direct legal route to citizenship based on investment and which
have passed Henley & Partners’ country due diligence
Other countries have similar provisions. However, in those countries there is no establishedor clear practice and/or the programs are not transparent
St. Lucia
AustriaAntigua and Barbuda
Malta
Grenada Cyprus
St. Kitts and Nevis
Reasons for an Alternative Citizenship (1/2)
•Opens travel to countries previously
restricted by time-consuming visa
application processes
• Be able to travel or have the
option to relocate at any time
• Freedom to retire in a safe country
without worrying about changing
immigration laws
• Freedom of movement when some
nationals are overly exposed to
physical or financial threats
Visa Waivers Retirement
MobilityIndependence
Reasons for an Alternative Citizenship (2/2)
• Increased privacy in banking
and improved physical security
• To renounce citizenship another
citizenship must be acquired first
• Citizenship is one of the tie-breaker
rules in most double tax treaties
•Guarantees a secure and truly
permanent alternative place to go;
the permanent right to reside
Protection Tax Planning
SecurityExpatriation
The Henley & Partners VisaRestriction Index 2017
Top Global Ranking 2017: Selected countries – Global Ranking 2017:
The Henley & Partners VisaRestriction Index 2017
Dual Citizenship Restrictions
The acquisition of another
citizenship often leads to
the automatic loss of the
current citizenship
Only half of the
world´s countries
allow dual
citizenship
Carefully check the legal
situation prior to taking
any steps to acquire
another citizenship
Residence-by-Investment
The term ‘residence-by-investment’ describes policies of countriesin
which foreign persons maybe grantedaresidencepermit
or card through capital investmentsin the country
Several countries have
programs in place to attract
foreign investors in return
for residence
These programs are
used to encourage
wealthy foreigners to
reside in their country
Residence-by-Investment Programs
Henley & Partnershandpicksthemost attractivecountrieswith regardto
mobility,security,privacy,personaltax andlifestyle
Australia
Monaco
Austria
New Zealand
Canada Singapore
Cyprus Switzerland
Hong Kong
UK
Malaysia
US
Malta
Thailand
Portugal
UAE
Reasons for an Alternative Residence
• Better quality of life, climate,
personal security
• Cleaner environment
• Better healthcare and transport systems
Quality of Life
•Graduation at high-ranking schools and
language skills are increasingly important
as the basis for a successful career
Education
• Safe alternative in times of instability
•More privacy in investment and banking
• A defined and stable legal environment
Security
•Often the only way to reduce the tax
burden and regulatory restrictions
legally is to relocate
Taxes
Industry Leading Research and Publications
Global Residence andCitizenship Programs2016 report and index
The annual industry benchmark index and report, covers 19 residence programs and seven citizenship programs
Global Residence andCitizenship Handbook6th Edition
New edition released annually 700-page reference covering the industry and programs in great detail
Henley & Partners – Kochenov Quality of Nationality Index
The first ever index to objectively rank the quality of nationalities worldwide
H&P Visa Restrictions Index 2017
New edition released annually in cooperation with the International Air Transport Association (IATA)ranking countries according to the total number of other countries which they can access visa-free
Global and Regional Events Organized Every Two Weeks
GCS Monaco
GCS South America (Colombia, Brazil,
PanamaCity)
GCS South Africa(Cape Town, Johannesburg,
Pretoria, Durban, Bloemfontein)
GRCC2016London
GCS Middle East(Dubai, Turkey, Lebanon)
Market Groups New York
GCS NewYork
STEP Global Congress Amsterdam
IMC Forum 2017
TheEconomist:EU-Southeast Europe Summit
The Economist: 12th Cyprus Summit
SEA Roadshow Singapore
SEA Roadshow Manila
SEA Roadshow Bangkok SEA Roadshow
Hanoi
SEA Roadshow Ho Chi Minh City
GRCC2017Hong Kong
Meetingswith intermediaries
(Russia)
Malta
Individual Investor Programme
• Launched in March 2014, over half of the applications are applications in progress
• Massive financial income has been added to Malta’s Foreign Direct Investment pipeline
• High level of due diligence; only highly reputable applicants admitted
• Citizenship is granted to reputable applicants who pass due diligence and make a significant economic and social contribution to the country
• The program was designed and is operated by Henley &Partners forthe Government of Malta under a Public ServicesConcession
• The most exclusive program in the world, capped at 1,800 applications
The Malta Individual Investor Programme (MIIP)
• EUR 650,000 for main applicant
• EUR 25,000 for spouse
• EUR 25,000 for each dependent under 18 years
• EUR 50,000 for each dependent over 18 years
• Lease a property: annual rent over EUR 16,000; OR
• Purchase of a property: value over EUR 350,000
• EUR 150,000 into bonds held for at least fiveyears
Main Requirements
Contribution to the National
Economic and Social
Development Fund
A residence in Malta
for at least 5 years
Investments into approved
financial instruments
AND
AND
The applicant must hold residence status in Malta for a minimum of 12 months prior to the issuance of a certificate ofnaturalization.
As a minimum, this means:• Holding a valid residence permit card for 12 months, which provides
visa-free travel access to the Schengenarea
• Leasing or purchasing a residence in Malta
• Establishing links with Malta (coordinated by Henley & Partners)
• Spending a number of days in Malta in order to arrange theresidence
card, tender biometric data, pledge the Oath of Allegiance,etc.
First Steps to Securing Legal Residence in Malta
VISTA POINT, GOZO |Spectacular natural views,
unique designs and commitment to quality
TIGNÉ POINT, MALTA | Opensea
views, tranquil, yet vibrant andmodern
FORT CAMBRIDGE, MALTA |Contemporary
apartments,offering the unique combination of amarine
environment within the urbanhubof Sliema
Malta ∙ Cost Example
Single Applicant Options Lease Property Purchase Property
Financial Instruments EUR150,000 EUR150,000
Lease/Purchase EUR80,000 EUR350,000
Contributions EUR650,000 EUR650,000
Due Diligence EUR7,500 EUR7,500
Other Fees/Costs EUR86,500 EUR88,000
Total EUR974,000 EUR1,245,500
Total Recoverable EUR150,000 EUR500,000
Total Net Cost EUR824,000 EUR745,500
Cyprus
Citizenship-by-Investment Program
Cyprus at a Glance
• Capital:Nicosia
• Geographical size: 9,251km²
• Population: 1,189,197 (July 2015est.)
• GDP: EUR 18.5 billion(2015)
• Official language:Greek
• Political system: presidentialrepublic
• EU member state since: 1 May2004
• Eurozone member since: 1 January2008
Cyprus at a Glance
• Cyprus is a small island in the Mediterranean Sea
• A former British colony, Cyprus became independent in1960
• Dynamic and flexible economy, and has established itself as a business and service
centre for shipping, banking andcommerce
• Cyprus is a full EU member state enjoying all the benefits that EU membership offers
• Despite the economic turbulance Cyprus is still here. Key sectors of the economy,
including tourism, shipping and business services have proved much more resilient
than originallyexpected
• Recent discovery of natural gas reserves and exploitation activities in Cyprus’ Exclusive
Economic Zone create immense prospects forinvestments
A Convenient European Destination
StPetersburg
Moscow
London Amsterdam
Paris
Monaco
CyprusMediterranean sea
Cairo
Dubai
The island is strategically located in the northeastern basin of the Mediterranean Sea, at the crossroads of
Europe, Asia and Africa. This allows easy traveling and the ability to conduct international business.
Travel Visa-Free as an EU Citizen
Total Countries: 158
Cyprus
Visa-free
Visa-on-arrival
Visarequired
Pre-travel internet registration required
International Flexibility
• Easy to travel
• Access Europe, Asia, Middle East,Africa
• Double tax treaties with 60countries
• Legal system based on UK commonlaw
• Attractive taxation system
• Aligned with the EU laws and regulations
• Robust telecommunications system
• International airports andports
Best of Education
• Publicuniversities
• Private universities
• State higher education institutions
• Private institutions of higher education
Foreign University Campuses
• University of East London
• University of Central Lancashire
• University of the West of England
• University of Wales
Safety and Peace of Mind
• One of the most peaceful places in Europe
• Unlocked doors are normal
• The low crime rate attracts many European citizens
• Fifth safest country in the world
Cyprus Citizenship-by-Investment Program
Eligibility
• Main applicant
• Spouse
• Mainapplicant’s adult children up to 28 years old
• Main applicant’s minorchildren
• Main applicant’s parents
Cyprus Citizenship-by-Investment
• EUR 2 million
• EUR 2 million
– Real Estate InvestmentOption
– Local Business ActivitiesOption*
• EUR 2 million – Participation in Alternative Investment Funds*
*Additional investment of EUR 500,000 into a residence is required
Real Estate Option
Cyprus Real Estate Market
• Great potential for tourism/touristic properties
• Oil and gas industry to drive capital growth
• Higher demand thansupply
• Limited prime locations
• Seafront real estate scarce
• Henley & Partners team with local knowledge
• Legal and financial due diligence
• Smooth acquisition process
Characteristics of the Current Market
The three main areas of interest are currently:
Limassol
• Seen as a business hub and attracts 15% of tourism
• Property value in Limassol is three times higher on average
than anywhere else on the island
• Not a seasonalcity
AyiaNapa
• Main tourist destination in Cyprus that attracts 50% of tourism
• Caribbean sandy beaches and turquoisewaters
• Highly developed tourist infrastructure
Paphos
• Attracts 35% of Cypriot tourism
• Mostly rocky coastline
• Lots of hills, nature and vineyards
Gated Projects/Limassol
Luxury Apartments/Limassol
Beachfront Villas/Ayia Napa
Beachfront Villas/Ayia Napa
Golf Residence/Paphos
Example of Real Estate Cost
Family with three minor children:*
• EUR 2 million for property transaction
• EUR 100,000 value added tax on EUR 2 million (if applicable)**
• EUR 4,000 Stamp Duty and land registry fees on EUR 2 million
• EUR 10,000 escrow agreement fee (if applicable)
• EUR 15,340 citizenship government fees
• EUR 70,000 Henley & Partners fees
EUR 2,199,340 Total(gross)
* Exact calculations could be provided on a case-by-case scenario depending the type of the investment
** Provided that the property is less than 200 m2
Real Estate – the Process
1. Signs Henley & Partners agreements
2. Collect all documents needed for application
3. Sign and certify the M 127 application form for naturalization
4. Sign and certify the M 126 application form for minors
5. Visit Cyprus to choose the property/ies and sign all necessary documents
6. Deposit the necessary investment amount into a client/escrow account
7. Settle all Henley & Partners fees
8. Pay the governmentfees
9. Henley & Partners submits the application and approval is usually within 90 days
Latest Investment Incentives
• A reduction of 50% on transfer fees for all real estate sales
• Introduction of the ‘non-domicile’ term which will allow non-domiciled residents to
benefit from a beneficial tax status in Cyprus. They will be exempt for the special
defense contribution tax, which is 30% on interest income and 17% on dividend
income, and which Cyprus tax residents are now subject to
• Abolition of the immovable propertytax
Summary of the Citizenship Program
1. Clean Criminal Record
• The applicants must have clean criminal records
2. Residence in the Republic of Cyprus
• The applicant must hold a permanent privately owned residence in Cyprus
• The purchase price of which must be at least EUR 500,000 (plus VAT)
3. Qualifying Investment Options
• EUR 2 million
• EUR 2 million
• EUR 2 million
– Real Estate Investment Option
– Local Business Activities Option*
– Participation in Alternative Investment Funds*
*Additional investment of EUR 500,000 into a residence is required
Antigua and Barbuda
Citizenship-by-Investment Program
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 2
Antigua and Barbuda Citizenship-by-Investment
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis
3
Antigua and Barbuda Information
With over 365 beaches of clear turquoise waters, the lush tropical islands of Antigua and Barbuda are an inviting paradise, and are considered to be
one of the most beautiful places in the world. The country has a stable democracy, benefits from a well-established legal and regulatory framework,
and has a tax regime that isattractive for inward investors.
Beijing
London
Mo scow
Dubai
Johannesburg
Miami
3h
6h 12h 8h
11h
10h
• Population 80,000
• Some of the most beautiful beaches in the world
• Visa free travel to 134 countries
• Very good daily flight connections to London,
Miami, and New York
• Member of the Commonwealth
Antigua and Barbuda · Introduction
Antigua and Barbuda
• A contribution to the National Development Fund of
USD 200,000 for a singleapplicant.
• An investment in an approved real estate project with
a value of at least USD400,000
To qualify for citizenship,
the government
requires either:
Additional due diligence fees of USD 7,500 for adults and government fees
of USD 50,000 for adults and USD 25,000 for minor applicants apply
Antigua and Barbuda · Citizenship-by-Investment Program
• USD 200,000 for single applicant;
+USD 100,000 for a family of two, three or four
If family is larger than four people
• +USD 25,000 per additional dependant under 18
• +USD 50,000 per additional dependant over 18
• USD 400,000 property purchase
Additional government fees applicable as follows:
• USD 50,000 for mainapplicant
• USD 50,000 for spouse, and dependants over 18
• USD 25,000 per dependant under 18
Or
Antigua and Barbuda · Citizenship-by-Investment Program Requirements
Contribution to the
National Development
Fund (NDF)
Real estate
acquisition
Due diligence fees:
USD 7,500 for main applicant, USD 4,000 for over 18, USD 2,000 for 12 – 17 years
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 4
none
Global tax n/a
Special tax scheme available
Annual property tax varies
Number of countries you may travel to visa-free 134
Travel visa-free to the EU (Schengen area) and Canada
Travel visa-free to the US
The right to live, work and study anywhere in the EU
Option to purchase real estate
Period after which you may re-sell your property 5 years
Investment
Travel
Tax Income tax
Benefits of Antigua and Barbuda Citizenship
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 5
Qualifying Information
Mandatory visit for approval not required
Residence requirements per year 1 day*
Clean criminal record
Minimum investment USD 200,000
Process duration for citizenship 3-4 months
*The applicant must spend at least five days in Antigua and Barbuda during the period of five calendar years after his registration.
Antigua and Barbuda · Cost Example
Single Applicant Options Donation Real Estate
Real Estate Purchase n/a USD400,000
Donations USD200,000 n/a
Government Fees USD50,000 USD50,000
Due Diligence USD7,500 USD7,500
Other Fees/Costs USD35,300 USD35,300
Total USD292,800 USD492,800
Total Recoverable USD0 USD400,000
Total Net Cost USD292,800 USD92,800
Grenada
Citizenship-by-Investment Program
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 19
Grenada Citizenship-by-Investment
• Population 106,000
• Stunning naturalbeauty
• Visa-free travel to 121 countries including
China
• US E2 Investor Treaty
• Independent Commonwealth country
Grenada · Introduction
• Contribution to the National Transformation Fund
of USD200,000
OR
• A purchase of government approved and designated
real estate with a value of at least USD 350,000
To qualify for citizenship,
applicants have two
options:
Grenada · Citizenship-by-Investment Program
• USD 350,000 property purchase
Additional government fees applicable as follows:
• USD 50,000 for main applicant and threedependents
• USD 25,000 for each additional dependent
• USD 200,000 to theNTF
Or
Contribution to the
National Transformation
Fund (NTF)
Real estate
acquisition
Due diligence fees:
USD 5,000 for over 18 years, USD 2,000 for 12 – 17 years; no fee for 0 – 11 years
Government processing fees:
USD 1,500 for over 18 years and USD 500 for 0 – 17 years
Application and passport fees: USD 1,750 per applicant
Grenada · Citizenship-by-Investment Program
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 22
Qualifying Information
Mandatory visit for approval not required
Residence requirements per year none
Clean criminal record
Minimum investment USD 200,000
Process duration 2-3 months
Grenada · Cost Example
Single Applicant Options Donation Real Estate
Real Estate Purchase n/a USD350,000
Donations USD200,000 n/a
Government Fees USD1,500 USD51,500
Due Diligence USD5,000 USD5,000
Other Fees/Costs USD16,750 USD16,750
Total USD223,250 USD423,250
Total Recoverable USD0 USD350,00
Total Net Cost USD223,250 USD73,250
* Resale value of real estate investment is subject to prevailing market conditions at the
time of sale
St. Kitts and Nevis
Citizenship-by-Investment Program
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 8
St. Kitts and Nevis Citizenship-by-Investment
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 10
St. Kitts and Nevis Information
St. Kitts and Nevis is a democratic Caribbean country with an economy driven by tourism. It is part of the Commonwealth, with the Queen of
England as Head of State. The country is tax friendly with no personal income tax, no capital gains tax, no wealth tax, no inheritance tax, and no
gift tax, and companies can easily acquire a full tax exemption. St. Kitts and Nevis boasts pristine beaches, sunny skies and natural beauty, making
this island an idyllic property investment in the Caribbean.
Beijing
Moscow
Dubai
London
6h
16h
8h
14h
Johannesburg
10h
Miami
3h
• Population 54,000
• Stunning naturalbeauty
• Independent Commonwealth country
• Visa free travel to 132 countries
• Daily direct flights from Miami and bi-weekly
direct flights from New York and London
St. Kitts and Nevis · Introduction
St. Kitts and Nevis
• A contribution to the Sugar Industry Diversification
Foundation of USD 250,000 (for a singleapplicant)
• A purchase of government approved and designated
real estate with a value of at least USD 400,000
St. Kitts and Nevis · Citizenship-by-Investment Program
One of the world’s most
successful programs
To qualify for citizenship,
applicants have two
investment options:
Additional due-diligence fees of USD 7,500 apply for both options
and government fees of USD 50,000 apply for the real estate option
Comparison of the Top Four Citizenship-by-Investment Programs in the Caribbean: Antigua and Barbuda ∙ Dominica ∙ Grenada ∙ St. Kitts and Nevis 11
Qualifying Information
Mandatory visit for approval not required
Average residency requirements per year none
Clean criminal record
Minimum investment USD 250,000
Process duration 4-6 months
Cost Example · St. Kitts and Nevis
Single Applicant Options Donation Real Estate
Financial Instruments n/a n/a
Real Estate Purchase n/a USD400,000
Contributions USD250,000 USD50,000
Due Diligence USD7,500 USD7,500
Other Fees/Costs USD35,355 USD35,355
Total USD292,855 USD492,855
Total Recoverable USD0 USD400,000
Total Net Cost USD292,855 USD92,855
St. Lucia
Citizenship-by-Investment Program
• Population 183,000
• Member of the Commonwealth
• Tourism based economy
• Tropical rainforests, waterfalls and magnificentbeaches
• Language:English
• Tropicalclimate
About St. Lucia
Why St. Lucia?
• Visa Free travel to over 127 countries including the EU Schengen Countries, Hong Kong and UnitedKingdom
• Ability to pass on citizenship bydecent
• No residencyrequirement
• No need to travel to St. Lucia during the application process
• St. Lucia recognizes dualcitizenship
• No country restriction
• No capital gainstax
• Good airlift into and out of St. Lucia to most major cities
Qualifying Investments
• St. Lucia National Economic Fund
OR
• Approved Real Estate Project
Option 1: St. Lucia National Economic Fund
The applicant makes a non-refundable monetary contribution to the St. Lucia National Economic Fund. The following is the minimum investment amount required.
Description Amount
Applicant applying alone USD 100,000
Applicant applying with spouse USD 165,000
Applicant applying with spouse and up to 2 qualifying dependants USD 190,000
Each additional qualifying dependent (of any age) USD 25,000
Comparison of Caribbean CBI Programs
Antigua & Barbuda Grenada St Kitts & Nevis St Lucia
Processing time: 3-4 months 3-4 months 2*-5 months 3 months
Visa-free access to: 136 countries 124 countries 136 countries 127 countries
Important visa-free travel destinations:
Canada, EU, UK, Singapore, Hong Kong
China, EU, UK, Singapore, Hong Kong
EU, UK, Singapore, Hong Kong
EU, UK, Singapore, Hong Kong
Minimum real estateinvestment:
USD400,000** USD350,000** USD400,000** USD300,000**
Minimumcontribution:
USD200,000** USD200,000** USD250,000** USD100,000**
Must hold period forreal estate:
5 Years 3 Years 5 Years 5 Years
Physical presencerequired in the country:
5 days within the first 5-years
None None None
* A fast-track processing option has been introduced for an additional fee payable to government** These fees represent the minimum contribution/investment for a single applicant and would still incur property transaction costs and/or misc. government fees, due diligence fees and processing fees that differ per program
The difference between St. Kitts and Nevis and Antigua and Barbuda
Processing TimeThree to four months’ processingtime
Residence Requirement
Requires the applicant to spendfive days over five years in Antigua
Processing Time
Two* to five months’ processing time.*Fast track processing of 45 to60 days
has been introduced for afee
Residence RequirementNo
Applicant to Swear an Oath of AllegianceNo
Access to Countries Visa Free136 countries – visa-free travel to Tonga, Israel, Bangladesh and Argentina (Antigua and Barbuda does not).No visa-free access to Canada
Applicant to Swear an Oath of Allegiance
Yes, either on the island or at an embassy or consulate around theworld
Access to Countries Visa Free
136 countries - visa-free travel to Canada, Ukraine and South Africa (St. Kitts and Nevis doesnot)
The difference between St. Lucia and Grenada
Processing Time60 to 90 Days Approval Time
Perfect option for a Family
Access to Countries Visa Free
124 countries – Visa Free travel to Schengen, UK, Singapore, Hong Kong and China
Processing Time
60 Days Approval Time
Perfect option for Single Applicant or Couple
Access to Countries Visa Free127 countries – visa-free travel to Schengen, UK andBangladesh
Residence RequirementNo
Residence RequirementNo
Leading Residence-by-Investment Programs
We help individuals and families to obtain residence permits in the following countries:
The Leading Residence Programs
United Kingdom
United Kingdom · Introduction
• Population 63 million
• One of the most attractive places in
the world to live and do business
• International business environment —
London is the financial capital of the world
• World renowned schools and universities
• Well connected with direct flight connections
to almost all major cities in the world
• Strong and stable rule of law
United Kingdom
United Kingdom · Investor Immigration Program
• Part of the points-based system, the
Tier 1 Investor category is for high net
worth individuals who want to make a
financial investment in the UK
• Quick processing time of four
to eight weeks
• No requirements on English
language for the first five years
• Investors are permitted to be gainfully
employed or study in the UK
Different Program Options:
• GBP 10 million or more
may apply for PR after
two years
• GBP 5 million or more
may apply for PR after
three years
• GBP 2 million or more
may apply for PR after
five years
United Kingdom · Permanent Residence Status
Conditions for Permanent Residence (PR)
• No more than 180 days
spent outside the UK in
any 12 month period
(this only applies to the
principal applicant)
Residence Required
• All applicants must
pass a simple ‘Life in
the UK’ test (very
easy, multiple choice)
English Requirement
• PR, once granted,
has no expirydate
• PR will remain in force
as long as the holder does
not spend more than
two years consecutively
outside the UK
No Expiry Date
United Kingdom · Conditions for Citizenship
• Each applicant must
maintain on average 75%
of their time in the UK
over five years
• Unlike for PR, each
individual is on their
own time clock
United Kingdom · Taxation
• The obligation of personal UK taxes is
based around the concepts of residence
and domicile
• It is possible to be resident in the UK
for tax purposes but non-domiciled.
This can provide many tax benefits
• Progressive income tax up to 45%
• Capital gains tax up to 28%
• No wealth tax
• Inheritance tax at 40%
Single Applicant Options
Financial Instruments
Real Estate Purchase
Contributions
Due Diligence
Other Fees/Costs
Capital Requirement
GBP2,000,000
n/a
n/a
n/a
GBP50,000
Total GBP 2,050,000
Total Recoverable GBP 2,000,000
Total Net Cost GBP 50,000
United Kingdom · Cost Example
Advantages
+
Disadvantages
-
• London is among the financial
capitals of the world
• World renowned schools
• Attractive tax system for wealthy individuals
(resident, non-domiciled rules)
• Straightforward investor immigration
program with fast processing time
• Requirement for minimum
physical presence
• Citizenship only after minimum
five years of residence
United Kingdom · Summary
Portugal
Golden Residence Program
• Population 11 million
• Lisbon, Oporto and Guimarães have been
European Capitals of Culture
• The Algarve is a scenic treasure with a long
coastline of golden beaches and dramatic cliffs
• A Portuguese residence card allows you to live,
work, and study in Portugal
Portugal · Introduction
Portugal
• A capital transfer
• A real estate investment
• A venture that creates 10 jobs
• Alternative investments
Announced in
October 2012
Options
Portugal · The Golden Residence Programme
• Allowing non-EU citizens to apply for a temporary
residence permit based on investment activity in Portugal
• Since launch, over 2000 permits have been issued, families who have started their
applications to date have committed over EUR 1 billion in foreign direct investment
A. Capital transfer into Portugal (flexible investments)
B. Purchase of real estate anywhere inPortugal
C. Capitalization of small/medium enterprises (SME)
D. Real estate purchase in an urban regeneration area
D. Real estate purchase older than 30 years
D. Investment into research activities
E. Artistic production or natural heritage
Portugal · Residence-by-Investment Program Requirements
Current OptionsA. EUR 1,000,000; or
B. EUR 500,000
Government fees over the five-year permit period:
EUR 11,830 for main applicant; EUR 10,530 for each dependant aged 16 or over
Additional Options
C . EUR 500,000; or
D. EUR 350,000; or
E. EUR 250,000
Single Applicant Options Standard Property Capital Transfer
Financial Instruments n/a EUR 1,000,000
Real Estate Purchase EUR 500,000 n/a
Contributions EUR 11,830 EUR 11,830
Due Diligence n/a n/a
Other Fees/Costs EUR 69,000 EUR 25,000
Total EUR 580,830 EUR 1,036,830
Total Recoverable EUR 500,000 EUR 1,000,000
Total Net Cost EUR 80,830 EUR 36,830
Portugal · Cost Example
Advantages
+
• Top ranked residence program
• Low cost, may be income producing
and may be recovered
• Gives visa-free travel within the
Schengen zone
• Physical presence requirements are quite
low, averaging seven days per year
Disadvantages
-
• A residence permit provides authorisation
to reside not an absolute right to reside
• Your permit must be renewed after the
first year, and every two years thereafter
• Authorisation could be terminated
without notice
• Laws can change which may effect your
residence status
Portugal · Summary
Portugal · Requirements for Citizenship?
• A separate application for each person aged 18 and over
• Letter from government stating you were a recognized resident
in Portugal for six or more years
• Reasonable knowledge (A2 level) of the Portuguese language
•Must not have been convicted for a crime
• Tangible connections with the Portuguese community:
· Portuguese bank accounts, income, investments
· Residential address and ownership
· Memberships of sports or leisure clubs, library, etc.
· Contribution of money and support to local charities
Yes
Henley & Partners ∙ The Firm of Global Citizens 2017 30
Thailand
Elite Residence Visa Program
Thailand Overview
Henley & Partners • Thailand Elite Residence Visa Program
Thailand Elite Residence Visa Program Benefits
• Fast processing time (2 – 4 weeks) and straight forward process
• Relatively inexpensive – residence options range from five years (~USD 15,000) to 20 years
(~USD 60,000)
• Low cost of living
• Complimentary VIP services and other privileges included
• Residence in Thailand is possible for a few days; a few months; or an unlimited period within
the validity of the chosen package
• No minimum stay requirement
• Attractive tax benefits – only taxed on income sourced in Thailand and foreign sourced income
is tax free if not remitted in the same year as earned
• Possible to acquire a tax identification number with income sourced in Thailand
Privilege Entry Visa
• Special renewable five-year multiple entry visa
• One-year extendable length of stay
• Full service 90-day report
• No visa-run while staying in Thailand
US UK Swiss Russia Japan France Deutsch China Bangladesh Australia
Program Options Comparison
Choosing the Right Program
Thailand Elite Direct Application Portal
URL: https://www.thailandelite-direct.com
Portal Registration
SCREENSHOT
What the applicant does:
• The applicant clicks on ‘APPLY NOW’ tab
• The applicant registers their email address and enters a password
• Checkboxes are mandatory, the terms and conditions and the cookies policy must be accepted
What happens in the process:
• Registration by entering an email address and password
• This log-in process will enable applicants to tracktheir entire application process via a dashboard
• Registration also provides security to ensure confidentiality of an applicant’s personal details
• As an added measure of security, an email will be sent to the applicant to verify their email address before continuing
Details of applicant’s dashboard: next page…
Screenshot from portalRequirement: Registration
Direct Application Process
Dashboard for applicant
SCREENSHOT
Other Considerations
Permanent Residence and Citizenship
• The Thailand Elite residence visa does not lead to permanent resident (PR) status or citizenship
• In order to apply to become a Thai PR, applicants must have:
• held a non-immigrant visa for at least three years prior to submission of application;
• held three consecutive yearly extensions of the non-immigrant visa; and
• also be a holder of a non-immigrant visa at the time of submitting the PR application
• Application for citizenship can be filed to become a Thai naturalized citizen after holding
PR status in Thailand for 10 consecutive years
Taxation
• Individual is tax resident if staying in Thailand for an
aggregate period of not less than 180 days in a year
• Resident of Thailand is liable for tax on worldwide income if remitted into Thailand in the same year it
is earned (remittance in the following year is not subject to tax)
• The same logic applies to all types of income (incl. pensions, capital gains, interest etc)
they are tax free if earned abroad (from foreign sources/companies/shares) and not brought into
Thailand within the same tax year
Summary
Thailand Elite Residence Visa
• Validity five to 20 years
• USD 16,000 – USD 65,000
• Family member exclusivity
Privileges
• Airport Service (EPA, electro cart, fast track, airport lounge)
• Limousine service
• Golf and spa
• Medical check-up
• 90-day report and one-year stay extension
• Customer contact centre 24 hours
• Work permit / Bank account and credit card / Driver’s license
30
Malaysia
My Second Home Program
Malaysia My Second Home (MM2H)
• Proof of bankable assets of at least MYR 500,000 (USD 115,000) / MYR 350,000
(USD 80,000) (below 50 / above 50 years old)
• Proof of income of at least MYR 10,000 (USD 2,250) per month
• Medical test in Malaysia
• Deposit of at least MYR 300,000 (USD 70,000) / MYR 150,000 (USD 35,000)
(below 50 / above 50 years old) in a Malaysian bank account for 10 years
• Medical insurance in Malaysia
Since inception in 2002, more than 32,000 applicants have been approved
No minimum age limit
No residence requirement
Malaysia My Second Home (MM2H)
The MM2H visa is valid for an initial period of 10 years and renewable
• Citizenship application is not possible under the MM2H Program
• Applicant has to be a permanent resident for more than 12 years
• Malaysia does not allow dual citizenship
Malaysia – Taxation
• Progressive personal income tax rate of up to 26%
• Standard corporate tax rate of 25%
• No capital gains tax on equities
• No gift taxes
• No inheritance taxes
• Taxation is based on the territorial source principle
• Only levied on income sourced in Malaysia
Your Partner for Residence and Citizenship
Henley & Partners
The Leader in Residence
and Citizenship Planning
Advising hundreds
of clients every
year on residence and
citizenship
Mandated by
governments worldwide
Our unique knowledge
and experience
is your advantage
Internet
Dominic Volek, CA(SA), IMCM
Managing PartnerHead Southeast Asia
Henley & Partners Singapore Pte Ltd
36 Robinson Road
City House, Level 14-06
Singapore 068877
Telephone +65 64387117
Direct +65 64387227
www.henleyglobal.com