Latest / IMI Podcasts / This Week in IMI - Dec 7: Turkey CBI Real Estate at $600k? Advisors Concerned About Portugal Hospitality Funds, ++

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This Week in IMI - Dec 7: Turkey CBI Real Estate at $600k? Advisors Concerned About Portugal Hospitality Funds, ++ · IMI Podcasts

• 0:05
  SPEAKER_00: You're listening to This Week in Investment Migration.
• 0:10
  SPEAKER_00: Major Turkish news outlets yesterday reported that the newest regulations from the country's Directorate of Immigration Administration will see the minimum investment for the Citizenship by Investment Program's real estate option rise from$400,000 to$600,000 as of 2024.
• 0:28
  SPEAKER_00: If true, the price change would be the third in just five years for Turkey's CIP.
• 0:35
  SPEAKER_00: Investment migration advisor Murat Koskun cautions Portugal Golden Visa investors about funds that invest in hotel operations.
• 0:44
  SPEAKER_00: The Portuguese government made it pretty clear that they don't want real estate, directly or indirectly within these funds, says Coskin, but also acknowledges that the legislation, at least prior to the publication of more detailed regulations, is broadly defined and therefore open to interpretation.
• 1:03
  SPEAKER_00: I wouldn't invest my money, he adds, seeing that there may be a risk of my golden visa being jeopardized.
• 1:11
  SPEAKER_00: Our guest in today's episode of our Mobility Standard Podcast, Henry Fan of Globe Visa, is determined to enable freedom of movement for as many people as possible.
• 1:22
  SPEAKER_00: To that effect, he is instituting what he calls the Amazon model for immigration companies, aiming to bring down the cost and diversify the supply of mobility solutions.
• 1:33
  SPEAKER_00: He also acknowledges that he had to learn costly lessons before he was able to make GlobeVisa a global, rather than merely Chinese, investment migration behemoth.
• 1:45
  SPEAKER_00: One of the biggest, stupidest mistakes I have ever made, he says, was to send my best Chinese staff to other countries.
• 1:55
  SPEAKER_00: Citizenship by descent policies are more valuable than ever, but the process is more complex than most think, writes Patrick McFawn, who outlines three crucial points to consider when preparing to reclaim your ancestors' nationality: timing of naturalization, the circumstantial nature of antique records, and the difficulty of accessing public archives.
• 2:21
  SPEAKER_00: The Financial Action Task Force, FATF, claims citizenship by investment programs are, quote, a breeding ground for misuse and corruption.
• 2:33
  SPEAKER_00: To examine the vulnerabilities of these programs, the FATF and the OECD released a joint report last week in which it provided 19 pages of recommendations for CBI program best practices.
• 2:46
  SPEAKER_00: Ahmad Abbas considers how the market should interpret the report's findings.
• 2:52
  SPEAKER_00: Governments, says Kristen Surak, author of The Golden Passport, use citizenship as a tool for exclusion.
• 2:59
  SPEAKER_00: And while global regulation of the investment migration sector may be a worthwhile goal, Surak argues it's an unrealistic one.
• 3:08
  SPEAKER_00: Any government that tries to regulate, she remarks, simply runs up against its own jurisdictional limits.
• 3:16
  SPEAKER_00: Since Malaysia's MM2H program closed for new applications last month pending revised terms, stakeholders have been hoping for sharply reduced costs, writes Jolie Jang.
• 3:29
  SPEAKER_00: Rumors indicate the deposit amount could drop from today's 1 million ringgit to between 700,000 and 800,000 ringgit.
• 3:39
  SPEAKER_00: Perhaps even more consequentially, the compulsory 90 day annual physical presence requirement is likely to be scrapped.
• 3:47
  SPEAKER_00: Thank you for listening.