The investment migration industry, which is a form of legal migration used by over 80 sovereign states globally, consists of various citizenship and residence by investment programs that allow individuals to gain citizenship or residence rights in return for investments in their host countries.
Passport Legacy is a Swiss advisory boutique firm with over 22 years of combined experience in the residence and citizenship by investment programs. Our highly knowledgeable client advisors provide professional guidance towards the best strategic investments for global citizenships.
Jose Charo is a managing partner of Passport Legacy based in Beirut, Lebanon-, where we have one of our global offices. He graduated from the Lebanese American University with a degree in Banking, Corporate Finance and Securities Law. Charo shares his thoughts on the industry in a short Q&A below.
1) It’s interesting how big the investment migration industry is. Over the past few years, we have seen a rising number of investors from countries such as Nigeria, Lebanon, Egypt, and Pakistan. Could you tell our readers more about the industry especially the Caribbean investment programs?
Let me tell you a brief history about investment migration. It started in 1984 and the first country to offer citizenship by investment was a small island country in the Caribbean called St. Kitts and Nevis. It was followed by Dominica in 1993. Antigua and Barbuda followed more than a decade later in 2013 and this is the reason why the Caribbean is famous for these citizenship by investment programs, aside from their sandy beaches and azure waters. By investing in the country and being granted their passports, the investors or holders are entitled the freedom of traveling visa-free to more than 140 countries including the United Kingdom, the Schengen space, Hong Kong, Russia, and Singapore. The passport of Grenada allows visa-free access to China and an opportunity to obtain an E2-visa to the United States.
In addition to the freedom of travelling, investors also benefit from additional opportunities such as emigrating to another country as a security due to unforeseen circumstances, optimizing taxes, opening accounts with international banks, and giving their children a prestigious British education.
2) Thank you for sharing with our readers the benefits of getting a second passport. What are the most popular citizenship by investment programs in your industry?
I can speak on behalf of Passport Legacy. We have observed that St. Kitts and Nevis is the most popular program because of its efficient process, great reputation, and visa-free travel to over 161 countries. The second most popular is Grenada because it is the only country to offer visa-free travel to China and, for business investors, this benefit is quite important. Grenada also avails its citizens the opportunity to invest in an E-2 visa to the United States. The third most popular is Vanuatu, the island nation from the South Pacific. Vanuatu offers the fastest and quickest way to get a second passport – two months only! Holding a Vanuatu passport also allows you to travel to 130+ countries and you do not need to reside nor visit the country at the time of application.
3) There are several citizenship by investment companies in the region. Can you tell our readers why Passport Legacy is the best company to deliver and execute citizenship by investment programs?
At Passport Legacy, we aim to help our international clients acquire their dual citizenship with the highest level of professionalism and strict confidentiality. With over 22 years of combined experience, our knowledgeable client advisors are available 24/7 worldwide.
We are also one of the few advisory firms worldwide authorized by the governments offering a citizenship by investment program in the Caribbean.
With our global offices in Lagos, Beirut, Lahore and Dubai as our Head Office, our team of professional experts and consultants is growing day by day and is committed to providing on-the-ground support and a smooth and efficient application process.
4) Where can interested parties find Passport Legacy?
Our Beirut office is based in Hamra. We are in Sharing 321, Serhal Building, Makdessi Street. You can contact us for a private and confidential consultation on +961 71 407 407.
Our head office is based in Dubai. We are in Jumeirah Lake Towers, Suite 3106 and 3107 in JBC 2 Building, Cluster V. You can contact and send Benjamin, our director for Client Services, a WhatsApp message at +971 50 139 5377.
5) With COVID-19 closing borders and adding more restrictions, what do you think are the challenges your company will be facing?
With COViD-19, I have seen an impact and change in the industry. In the space of almost two years, we have seen how investors have changed their narrative. Either they acknowledge the change and fully embrace their business and life, or they want to perpetually work from home and be with their families. Today’s citizenship by investment has become a vital insurance policy for stable governance and healthcare. There is also so much more information now available, and the market is getting very well educated in most parts of the world. Their research is no longer about the choice of program but about finding a well-experienced and knowledgeable firm that is accountable and legally liable.
At Passport Legacy, our capable team ensures we help you choose the right citizenship by investment program that will last for future generations.