EB5 Investors Magazine Volume 5, Issue 2 - Page 139

POSITIVE DEVELOPMENTS At the same time, positive investor migration developments have been seen across Europe’s programs. These measures are reflective of increasing HNWI figures and market confidence in growth. Cyprus has relaxed the financial thresholds of its citizenship program, reducing the level to a potential 2 million euros for those investing in real estate. Also, government bonds can make up to 500,000 euros of a combined investment. Although a requirement to obtain a permanent residence card has been introduced, this can be done simultaneously with the main application to cause minimal disruption. In Estonia, investors are now eligible for a new temporary residence permit if they make a direct investment of at least 1 million euros into an Estonian company. Previously, investors could only enter Estonia on the basis of an employer- sponsored visa. In France, investors, entrepreneurs or innovators may now be eligible to apply for residence for up to 4 years based on a number of possible investments including: direct economic investments of at least 300,000 euros, entrepreneurial investments of at least 30,000 euros and innovative economic projects with no specified minimum investment. Italy too has introduced a new visa category for investors, offering residence for 2 years initially, renewable for 3-year periods. Investment thresholds are set at 500,000 euros for start-up companies and 1 million euros for those investing in equity instruments of companies based and operating in Italy. Elsewhere, Luxembourg’s investment-based residence permit is in force as of March this year. Turkey has enjoyed a vast growth in HNWI population and introduced its own CBI Program early in the year. Turkey’s program will provide for citizenship to be granted to those meeting investment criteria starting at $1 million including: real estate purchases of at least $1 million, fixed capital investments of at least 2 million euros, local bank deposits of at least 3 million euros, government bond purchases at 3 million euros, or the creation of at least 100 jobs. BREXIT NEGOTIATIONS The UK is of course in the midst of increasingly challenging Brexit negotiations – the rights of UK nationals in the EU, EU nationals in the UK, and the status of the European Court of Justice decisions in the UK post-Brexit are all still very unclear. It is expected that after the UK exits the EU in March of 2019 and EU nationals who wish to come to the UK for work or live will have to qualify for entry to the UK – perhaps in a similar way to non-EU nationals currently do. As for EU nationals already in the UK, the government has set out plans that would protect the rights of most EU nationals who are in the UK at either a specified cut-off date – which is yet unknown – or the date that Brexit actually occurs, whichever comes first – through a compulsory registration or application process. However, very little detail is known and the reality may look quite different to this published policy. As a result of these uncertainties we see a significant increase in appetite from HNWIs within the EU itself – with some HNWIs looking to investor and entrepreneur migration solutions globally and even within the EU itself to guarantee free movement rights. Malta and Cyprus are becoming increasingly popular. Malta for example offers immediate EU citizenship af ter 12 months residence for those anxious to free movement rights post Brexit. The UK’s Tier 1 categories have proved resilient against Brexit uncertainties. Statistics show not EB5INVESTORS.COM 138