International Citizenship Expo Market Leaders To Gather In Abu Dhabi

The event will bring together various industry leaders and government officials to assist aspiring high net worth individuals looking to acquire a new citizenship

The International Residency and Citizenship Expo 2022 is one of the most prominent events to be held in the capital, which is expected to witness 50 plus exhibitors from 30 countries showcasing 60 plus programmes and projects. It will showcase the benefits of obtaining a new international second citizenship. With an aim to underline varied prospects in citizenship and residency across the globe, the International Residency and Citizenship Expo 2022 is returning to Abu Dhabi. The Expo, which serves as a platform to assemble government bodies, approved consultants, authorised agencies, legal entities, property developers, consultants and all the other associated entities, will be joining the two-day exhibition and conference organised by Dome Exhibitions at the Conrad Etihad Towers on October 7 and 8. The event includes a conference, which will highlight residency and citizenship-by-investment (CBI) programmes, under which various countries grant residency and citizenship for a significant investment in the country.

There has been a rising number of investors migrating from their home countries to reap the benefits of visa-free travel, financial security, safety from political and economic uncertainties, personal freedom and the prospect of exploring diverse markets around the world. Owing to these factors, immigration-based investment is rapidly gaining momentum.

Numerous exhibitors specialising in citizenship by investment from countries such as Portugal, USA, Canada, Caribbean countries, Cyprus, the UK, Malta, Greece and Montenegro, will be participating in the event. The event will offer opportunities to numerous expatriates from India, Pakistan, Syria, Lebanon, Palestine, Egypt, Afghanistan, Philippines and few other countries in Middle East, Asia and Africa, looking to obtain a second citizenship.

The Covid-19 pandemic posed a number of challenges with lifestyles being affected by travel restrictions and local health systems. Citizenship by investment is one of the positive after-effects of the pandemic as it offers high-net-worth individuals with an alternative to live freely abroad for a long-term. The CBI will be the key highlight during the two-day Expo.

During the event, participants will be presented with updates on leading investment migration programmes and related opportunities in investment across the world. Advisors and government entities will offer professional guidance and consultancy to participants. The Expo offers opportunities for one-on-one interactions with prominent consultants from the immigration industry to explore different avenues in setting up a business, opening bank accounts and expanding investment around the world without personal, income or any other tax liabilities or restrictions on repatriation of profits. The event will also showcase numerous property developments and various investment options, consultation and financing opportunities. Current insights on the markets will be provided by regional and international real estate investors, brokers, and developers from the Middle East, Europe, and Asia Pacific participating in the event.

Experienced finance, tax, and immigration professionals will be present in the conference to give advice to attendees, particularly high-net-worth individuals. The two-day event will also feature the EB-5 Immigrant Investor Programme, which provides a path through investment for people who want to live permanently in the US and who may eventually want citizenship.

Arun Bose, Associate Director at Dome Exhibitions LLC – Exhibitions/Conference, said: “The Citizenship Expo has been the first-of-its-kind B2C exhibition and conference since its launch inception in 2016. It has served as an ideal platform to over 500 industry experts in citizenship by investment from across the globe, including major delegations from governments and the investment migration council from Geneva to showcase citizenships opportunities in different nations. The industry is projected to witness an exponential growth in the coming years, especially in the post-pandemic era, which is showing true potential for the immigration and citizenship in foreign countries from this region. In 2019, the global residency and Citizenship by Investment industry was valued at $21.4 billion annually and is expected to generate a $100 billion revenue by the year 2025. The online registrations this year shows a gradual increase in interest from expats, who are looking for a second home as an investment during this year’s exhibition.”

Paul Sign, Director at CS Global Partners, said: “We are going to see massive growth in interest and actual applications for both CBI and RBI for two reasons. More people are becoming aware of both CBI and RBI, especially in markets such as the US and increasing political polarisation across the world is leading to heightened fear among people, who want to leave their homes in search for peace and security. We also have families adopting a Plan B, although they remain in their country of origin, they actually have a solution should they require to use it. Gen Z people also do not want to be confined to one country and are adopting the true sense of being global citizens. Dual citizenship is certainly one of the best strategies for global upward mobility because when an investor decides to invest in the CBI or RBI of a certain country, they gain access to a host of opportunities including better tax regimes, better education and healthcare facilities and business opportunities such as being able to set up their business close to the world’s best business hubs.”

Aaron Grau, Executive Director at IIUSA Invest in the USA, said: “Multiple EB-5 industry stakeholders have entered into a settlement agreement with the United States Citizenship and Immigration Services ‘USCIS’ that protects EB-5 investors and re-authorises previously approved regional centres, effectively signaling the EB-5 programme is fully back in business.”

Haveen Othman Qadar Gulabagh at Mirka Group, said: “As an Iraqi and Kurdistan based company, I can say that both political issues and economic issues have impacts on immigration. Currently, economy is the major reason for citizens to migrate due to the fact they think they’ll find more job opportunities abroad. I predict a growth in the number of applicants as a consequence of uncertainty and unpredictability worldwide in addition to increasing tax in some of the countries. The impact of increasing tax is vital. Due to high taxation in some countries, people tend to make use of second passport so they do not have to pay tax.”

— ali@khaleejtmes.com