Latest / IMI Podcasts / This Week in IMI - July 10: Grenada Extends Application Deadline, Portugal to Bring Back NHR, IMI Launches Nomad Visa Guide, ++

Transcript

This Week in IMI - July 10: Grenada Extends Application Deadline, Portugal to Bring Back NHR, IMI Launches Nomad Visa Guide, ++ · IMI Podcasts

• 0:00
  SPEAKER_00: You're listening to IMI this week.
• 0:03
  SPEAKER_00: Since the pandemic, when millions of people learned that they could make a living remotely, digital nomad visas have proliferated at a rapid pace across the world.
• 0:13
  SPEAKER_00: These short-term temporary residence permits are designed for remote workers who want to live and work from a foreign country, typically without becoming local tax residents.
• 0:25
  SPEAKER_00: IMI launched its complete guide to digital nomad visas, a special page where you can find essential information on all the world's digital nomad visas.
• 0:37
  SPEAKER_00: Greece has introduced new rules and price tiers for its golden visa program, leading to a shift in focus towards three main investment categories: city center properties for renovation at€250,000, tourist destination properties at€400,000, and listed buildings.
• 0:59
  SPEAKER_00: Industry experts Christina Giorgaki, Ahmed Abasi, and Alexander Varnovas anticipate more interest in renovating existing buildings and converting commercial properties to residential spaces.
• 1:13
  SPEAKER_00: Because golden visa transactions represent a small fraction of Greece's total real estate market, the experts agree that the changes will have a limited effect on overall property prices.
• 1:26
  SPEAKER_00: The Hong Kong government has received over 300 applications for its revamped capital investment entrance scheme since its launch in March 2024, with three individuals obtaining formal approval and 88 receiving approval in principle.
• 1:43
  SPEAKER_00: The scheme, which offers a path to Hong Kong residency for those investing at least 30 million Hong Kong dollars in permissible assets, is expected to bring in around 10 billion Hong Kong dollars worth of investment from current interest.
• 1:59
  SPEAKER_00: While the program's performance has improved in recent months, it still falls short of the government's initial expectations of attracting 120 billion Hong Kong dollars annually and 4,000 participants per year.
• 2:15
  SPEAKER_00: Portugal's new government plans to reinstate the non-habitual resident, NHR tax regime, offering a reduced 20% flat income tax rate for salaried and self-employed workers who haven't been tax residents in Portugal for the past five years.
• 2:33
  SPEAKER_00: Unlike the previous version, the new NHR scheme would not provide tax exemptions or reductions on dividends, capital gains or pensions.
• 2:44
  SPEAKER_00: Needing support from at least one parliamentary wing, the proposal is part of a larger package of economic reforms that the minority government hopes to push through parliament.
• 2:56
  SPEAKER_00: Cyprus has decided to revoke the citizenship of two Russian oligarchs, Konstantin Grigorishin and Igor Kesav, who obtained their passports through the country's former citizenship by investment program.
• 3:11
  SPEAKER_00: This decision is part of an ongoing investigation into irregularities within the program, which has led to hundreds of citizenship revocations and charges filed in approximately 100 cases involving problematic investors involved in financial and political scandals.
• 3:30
  SPEAKER_00: Grenada's Investment Migration Agency has extended the application submission deadline for its citizenship by investment program to July 12, 2024, due to challenges caused by Hurricane Beryl.
• 3:45
  SPEAKER_00: This extension allows agents and the Grenada Cooperative Bank more time to process applications under the new pricing structure, with all outstanding matters to be resolved by July 31st.
• 3:58
  SPEAKER_00: The announcement aligns with similar grace periods offered by St.
• 4:01
  SPEAKER_00: Lucia and Antigua and Barbuda for in-progress applications, while St.
• 4:07
  SPEAKER_00: Kitts and Nevis and Dominica have no grace periods.
• 4:12
  SPEAKER_00: Thanks for joining us today on IMI Podcasts.
• 4:15
  SPEAKER_00: Subscribe for free to the IMI Daily Newsletter for breaking news and updates from the investment migration industry.
• 4:23
  SPEAKER_00: And consider upgrading your membership to IMI Pro to get insider access to networking opportunities, industry events, data, and members only content.