(New) Citizenship-By- Investment options

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1 (New) Citizenship-By- Investment options Daniel Perron Tolga Habali Managing Partner Regional Director Henley & Partners Canada Ltd Sovereign Society Las Vegas October 2013

2 Agenda CITIZENSHIP PROGRAMS Malta Individual Investor program (New) Antigua and Barbuda C.I.P. (New) St Kitts and Nevis C.I.P. (since 1984!!) RESIDENCY PROGRAMS (may lead to Citizenships) Portugal Golden Visa Program (New) (UK, Canada, Switzerland, Belgium, HK, Singapore)

3 Henley & Partners Clients Wealthy individuals and families Governments worldwide Reach Over 200 people 23 offices around the world The Global leader in residence and citizenship planning Track Record Founded more than 40 years ago 20 years leading the industry Focus Residence and citizenship planning for private clients Consulting and program development for governments Other services offered by other Group companies: Henley Estate, Henley Trust, Henley Insurance

4 Reasons to Acquire Another Citizenship Visa free travel Retire in a safe country Possible tax planning benefits Do not depend on one passport Personal security Plan B A prerequisite to renounce citizenship Guaranteed place to go Children education Quality of life

a economic contribution to the country thru the National development fund

5 Republic of Malta INDIVIDUAL INVESTOR PROGRAM (IIP) Established in Oct Allows citizenship & Passport to be granted to reputable persons making a economic contribution to the country thru the National development fund Henley & Partners has been appointed by the Government to help them establish the program

6 The Republic of Malta Among the earliest settlements in the world, 7,500 years of history 316 km2 Population: 418,336 Strong legal system and well-established institutions EU member since 2004, member of the Schengen area since 2007 Excellent climate, friendly people, stable and safe with very low crime-rate

7 The Republic of Malta

8 Natural environment

9 Evolving landscape

10 Stability

11 Cultural highlights

12 Century-old traditions

13 Reasons to Apply for Citizenship in Malta Citizenship in a EU country that is stable, neutral and highly respected Reasonable contribution and application process of less than 3 months Highest due diligence standards and vetting of applicants Visa-free travel to more than 160 countries, including the USA Malta offers the world s most attractive citizenship program EU citizenship gives right of work and establishment in all 28 EU countries

14 Security and Stability Permanent, undeniable right of establishment in all 28 EU Member States as well as in Switzerland, Liechtenstein, Iceland and Norway Malta is an internationally well-respected, traditionally neutral country Malta has embassies and consulates to support its citizens throughout the world Malta is an attractive and safe place to establish an alternative home

15 Ease of Travel Travel visa-free to over 160 countries: Not only visa-free access but right of establishment throughout the EU Extensive visa-free access to the Middle East, Africa and Asia Most countries in Central and South America Australia and New Zealand Canada and the United States of America --->> Ranked 9 th or 11 th in visa free travel in the world

16 Highest Standards World s strictest due diligence and multitier vetting procedures One visit required to issue biometric passport Well-structured and efficient process 3 4 months processing time Highest compliance standards ensure that only the most reputable applicants are admitted to this program

17 Required Contribution and Due Diligence Fees Contribution to National Development Fund of EUR 650,000 for main applicant Contribution for spouse and minor children: EUR 25,000 each Contribution for dependent children 18 to 25 years or dependent parents above 55 years: EUR 50,000 each Due Diligence fees for main applicant: EUR 7,500; for spouses, adult children and parents: EUR 5,000; for children: EUR 3,000 each

18 Overview of Costs and Fees Contribution Due Diligence Henley in Euros Fee Fee Principal Applicant 650,000 7,500 70,000 Spouse 25,000 5,000 15,000 Child < 18 years 25,000 3,000 10,000 Child years 50,000 5,000 15,000 Parent > 55 years 50,000 5,000 15,000 Example 1: Single Applicant total Cost: 727,500 Euros (USD984,000) Example 2: Couple with two <18 kids: 848,500 Euros (USD1,145,000)

19 Malta: The Key Benefits at a Glance Citizenship from a well-respected and stable EU country Only highly reputable applicants are admitted to this program Extensive visa-free travel to over 160 countries including the USA EU citizens hip gives right of establishment in all 28 EU countries Fast processing No residency requirements

20 Antigua & Barbuda CITIZENSHIP-BY-INVESTMENT PROGRAM (CIP) Established in August 2013 First customer in October 2013 Allows citizenship & Passport to be granted to persons who qualify And by making an significant economic contribution to the country

A few facts about Antigua & Barbuda Location: Antigua (pronounced An-tee'ga) and Barbuda are located in the Eastern Caribbean, roughly 17 degrees north of the equator.

21 A few facts about Antigua & Barbuda Location: Antigua (pronounced An-tee'ga) and Barbuda are located in the Eastern Caribbean, roughly 17 degrees north of the equator. Size: 108 square miles + 68 square miles for Barbuda which lies approximately 30 miles due north. Population: approx. 68,000 and 20,000 in Barbuda its capital is St. John's on Antigua. Climate: Temperatures generally range from the mid-seventies in the winter to the mid-eighties in the summer. Annual rainfall averages only 45 inches, making it the sunniest of the Eastern Caribbean Islands Known as the Islands of 365 beaches Re-known for its sailing conditions, facilities, academies etc

22 Antigua & Barbuda Citizenship-by-Investment Program Highlights: Brand new program no backlog Short processing times & Efficient processing open for business Visa free travel 130 countries Beautiful climate and beaches Minimal Residency requirements 7 days/year No Business experience required No Inheritance, capital gain tax and soon no personal income tax on worldwide revenues.. 22

23 Antigua & Barbuda Citizenship-by-Investment Program Options Option 1: The National Development Fund Contribution The NDF contribution is a quick and efficient way of gaining citizenship in Antigua & Barbuda. The Regulations stipulate that an applicant is required to make a contribution to the NDF of at least US$250,000, but there is an attractive Limited Time Offer ( LTO ) available until March 2014, whereby the applicant only needs to provide US$200,

24 Antigua & Barbuda Citizenship-by-Investment Program Options Option 1: The National development Fund Contribution NDF Contribution (per application): Government fee - Principal Applicant Government fee - Spouse Government fee - Dependent child aged 0-11 Government fee - Dependent child aged Government fee - Dependent child aged Government fee - Dependent parent aged over 65 : US$250,000 (200,000 under LTO) $50,000 (includes 3 dependants under LTO) $50,000 if not Included under LTO $25,000 each, if not included under LTO $25,000 each, if not included under LTO $50,000 each, if not included under LTO $50,000 each, if not included under LTO 24

25 Antigua & Barbuda Citizenship-by-Investment Program Options Option 2: Real Estates Minimum Real-Estate Purchase (per application): US$400,000 Government fee - Principal Applicant $50,000 Government fee - Spouse $50,000 Government fee - Dependent child aged 0-11 $25,000 Government fee - Dependent child aged $25,000 Government fee - Dependent child aged $50,000 Government fee - Dependent parent aged over 65 $50,000 25

26 Antigua & Barbuda Citizenship-by-Investment Program Options Other fees: 1) Gov t Due Diligence fees Due diligence fee - Principal Applicant $7,500 Due diligence fee - Spouse $7,500 Due diligence fee - Dependent child 0-11 $0 Due diligence fee - Dependent child $2,000 each Due diligence fee - Dependent child $4,000 each Due diligence fee - Dependent parent aged over 65 $4,000 each 2) H&P Fees Principal Applicant $35,000 Spouse or children 18 & over $10,000 Children < 18 years old $5,000 (with LTO) R.E. NDF Example 1: Single Applicant total Cost: US$ 492, ,500 /(292,500) Example 2: Couple with two <18 kids: US$ 624, ,000 /(324,000) 26

27 Real Estate Investment in Antigua & Barbuda by Henley Estates

28 Antigua & Barbuda Real estate: Nonsuch Bay Nonsuch Bay A fully operational resort hotel on the east side of the island and located within a stunning and sheltered bay. The resort is home to an award winning restaurant and professional sailing academy which is RYC accredited. A fully operational resort hotel on the east side of the island and located within a stunning and sheltered bay. The resort is home to an award winning restaurant and professional sailing academy which is RYC accredited. The Resort rental program has been in place for 3 years and all properties may be part of the rental program if desired. Both joint ownership (2 owners) and whole home ownership options are available, to include a number of completed and furnished units. Joint ownership two-bedroom apartments start from $400,000, and full ownership one bedroom apartments start from $475,000. There are only a handful of one bedrooms still available. The Resort s Phase II plans are set for the other side of the ridge and include a super yacht marina and a full spectrum of amenities and services for the Yachts. The resort s value once finalized will be increased. 28

29 n Nonsuch Bay Hotel & Resort

30 Nonsuch bay

Antigua & Barbuda Real estate: Tamarind Hills Tamarind Hills Luxury accommodation with stunning views of the ocean front. Located on the west coast of Antigua, only minutes from Jolly Harbour.

31 Antigua & Barbuda Real estate: Tamarind Hills Tamarind Hills Luxury accommodation with stunning views of the ocean front. Located on the west coast of Antigua, only minutes from Jolly Harbour. They have been building for a number of years with 5 beach front villas completed to date and a successful private rental program. The resort is in the startup phase, which is the opposite of non-such bay, and most units are being sold pre-construction. However, it is a beautiful location on a ridge overlooking turquoise waters. With access to two crisp white sandy beaches, once realized, the resort will be highly sought after. Full ownership 31

32 Tamarind Hills

33 St-Kitts & Nevis CITIZENSHIP-BY-INVESTMENT PROGRAM (CBI) Established in 1984 by the Citizenship Act of St-Kitts and Nevis (SKN) Allows citizenship & passport to be granted to persons who qualify under criteria set by cabinet decision And by making an economic contribution to the country

34 Where is St Kitts & Nevis? 34

35 What do we know about St Kitts and Nevis? An English speaking federative island located on Eastern Caribbean, 2000 km southeast of Miami Former British colony (1983) member of Commonwealth Population little over 50,000, Area 261 sq km Capital city: Basseterre (13,000) Currency: Eastern Caribbean Dollar (1$=2.7 XCD fixed) GDP: $918 Million ($16,400 per capita) Legal system: Parliamentary democracy Often cited as the Island with most potential in real estate value appreciation in the Caribbean. 35

St. Kitts & Nevis Citizenship-by-Investment Program Highlights: NO s No - Residency obligation No - Business experience required No - Personal Income,Inheritance, capital gain tax

36 St. Kitts & Nevis Citizenship-by-Investment Program Highlights: NO s No - Residency obligation No - Business experience required No - Personal Income,Inheritance, capital gain tax etc. Highlights: YES s Yes Short processing times Yes Visa free travel 130 countries Yes Credible citizenship and passport Yes Well established program Yes Beautiful climate 36

37 St. Kitts and Nevis : by Government Appointment Henley & Partners has been appointed and officially authorized by the government of St. Kitts & Nevis to manage applications under its Citizenship-by-Investment program worldwide.

Program Options Real Estate Investment Option Minimum investment of US$400,000 in a government approved projects PLUS US$50,000 for the main applicant US$25,000 for the

real estate acquisition fees, ancillary fees SIDF Contribution Option (Sugar Industry Diversification Fund Contribution SIDF) Single Applicant: US$250,000 Applicant with

38 Program Options Real Estate Investment Option Minimum investment of US$400,000 in a government approved projects PLUS US$50,000 for the main applicant US$25,000 for the spouse of main applicant US$25,000 for each child under 18 years US$50,000 for each qualified dependent between 18 and 25 or over 65 PLUS Legal fees, due diligence fees, real estate acquisition fees, ancillary fees SIDF Contribution Option (Sugar Industry Diversification Fund Contribution SIDF) Single Applicant: US$250,000 Applicant with up to 3 dependents: US$300,000 Applicant with up to 5 dependents: US$350,000 Applicant with up to 7 dependents: US$450,000 PLUS Legal fees, due diligence fees, ancillary fees 38

39 Other fees 1. GOVERNMENT fees real estate Main applicant: US$ 50,000 Spouse: US$ 25,000 Child below 18: US$ 25,000 Child 18-25:US$ 50,000 Other transactional costs: approx.10% of purchase price 2. Due Diligence fees (both programs) Main applicant US$ 7,500 For each dependent over 16 US$ 4, HENLEY & PARTNERS SKN GOVERNMENT APPROVED PROCESSING FEES: Single applicant: US$ 35,000 Applicant, spouse and up to 2 children : US$ 45,000 Applicant, spouse and up to 4 children: US$ 60,000 Applicant, spouse and more than 4 children: US$ 70,000 R.E. SIDF Example 1: Single Applicant total Cost: US$ 492, ,500 Example 2: Couple with two <18 kids: US$ 589, ,500 39

40 Real Estate Investment in St Kitts & Nevis by Henley Estates

41 Saint Kitts & Nevis Real Estate Market Underdeveloped A Clean Slate Able to strategically plan and control development Vacation / 2 nd Home Market Citizenship by Investment Market Outlook Country is attracting leading luxury developments and hotels Increased marketing budgets focused on Saint Kitts by major international brands Future possibility, the Monaco for North America no taxes As a country develops property value and prices increase 41

42 Citizenship Approved Real Estates Many real estate developments approved for citizenship by investment, only a few passed our due diligence Our Due Diligence - Resale value - Eligibility for the citizenship program - Approvals and special govt. concessions - Track record, financial strength, and reputation of the developer Our final decision based on: - Our due diligence - 5 year investment earning potential - Efficiency of acquiring, completing, and submitting the citizenship paperwork - The ability to immediately issue passports once approved for citizenship 42

Projects of Interest - Christophe Harbour Largest planned development in the country Residential planning for 2000 luxury villas, super yacht marina, golf course, spa, club houses,

43 Projects of Interest - Christophe Harbour Largest planned development in the country Residential planning for 2000 luxury villas, super yacht marina, golf course, spa, club houses, luxury hotels and commercial/retail. Positives Resale Potential Current Life Style Buyers Targeting the worlds wealth US developer Considerations Long-term project Construction site 43

44 Projects of Interest 推荐的项目 44

45 45

46 Christophe Harbour - Beach Front Homes 46

47 Christophe Harbour - Luxury Homes 47

48 Projects of Interest - Four Seasons Nevis First 5 star resort/hotel on Nevis Fully integrated destination resort and village. Hotel, luxury villas, golf course, tennis center, spa, with shopping and dining. Positives Highest occupancy (70%) and prices in the country Built out amenities Four Seasons quality / services Lifestyle purchasers over citizenship investors Beachfront Considerations Not for price sensitive 48

49 Four Seasons Nevis 49

50 Four Seasons Nevis 50

51 Four Seasons Nevis 51

52 Four Seasons Nevis 52

Private cottages, luxury villas, golf course, spa, with shopping and dining.

53 Projects of Interest - Kittitian Hill First 5 star resort/hotel on St Kitts Fully integrated hotel resort and village. Private cottages, luxury villas, golf course, spa, with shopping and dining. Positives Modern hotel with detached rooms Leaseback Option at 4% per year Price/Value (Famous architect: Bensley) Sustainable Development Considerations Not beachfront Under construction 53

54 54

55 Kittitian Hill 55

56 Non-financial Benefits Real Estate Option Location to hold an asset (protection) within a tax friendly and stable country Residence, Mailing Address, and all utility bills can be in owners name Structure companies/trusts, bank accounts, and contracts under St Kitts citizenship Personal Residence, Vacation/Secondary Home or even Primary Home Option to join resort exchange programs and access resorts worldwide Properties can be fully managed without any hassle of ownership 56

57 Two Islands : One country Famous Four seasons Golf course on Nevis 57

58 Portugal GOLDEN VISA PROGRAM Established in 2013 Allows Residency to be granted to persons who qualify under criteria set by Government May lead to Citizenship after 6 years

Portugal Golden Visa Program in a nutshell Applicant must : 1)Invest 500,000 Euros in real Estate in Portugal for 5 years 2)Have International Health coverage 3) be willing to spend 7 days each year

59 Portugal Golden Visa Program in a nutshell Applicant must : 1)Invest 500,000 Euros in real Estate in Portugal for 5 years 2)Have International Health coverage 3) be willing to spend 7 days each year in Portugal Applicant gets: >> One year Golden Visa which enables him to live in Portugal as Resident, renewable every two years thereafter >> Right to claim Citizenship after 6 years (must prove min. Portuguese proficiency and 7 days/year of physical presence >>GREAT quality of life >> Direct access to 26 Schengen states

60 Henley & Partners Visa restriction index (2012) 60

61 Contact Information Daniel Perron Managing Partner Tolga Habali Regional Director Henley & Partners Canada Ltd (Head office) 2020 University, suite 1920 Montreal, H3A 1G1 Canada Henley & Partners Canada Ltd 885 West Georgia St, #1030 Vancouver, B.C. Canada T daniel.perron@henleyglobal.com T vancouver@henleyglobal.com

62 Become a Global Citizen!! 62

St. Kitts and Nevis Citizenship by Investment

St. Kitts and Nevis Citizenship by Investment www.fastmigration.com About the program ST. KITTS AND NEVIS Program overview - Obtaining citizenship by investment in St. Kitts and Nevis was established in