With an objective to facilitate the dual citizenship process for numerous high-net-worth individuals from around the globe, the UAE recently organized the International Residency and Citizenship Expo in Abu Dhabi.
The event saw experienced finance, tax, and immigration professionals, government entities, consultants, official agencies, legal entities, property developers, and several others converge together at one place to offer professional guidance and consultancy for those looking to buy second citizenship in return for investing in properties and bonds and donating abroad.
Citizenship by Investment
The latest policy of Citizenship by Investment, which opens various avenues for obtaining long-term life support for high-net-worth expatriates, was the key highlight of the event. The dual citizenship offers several benefits such as visa-free travel, access to foreign markets, quality education, financial security, personal freedom and much more. The Expo served as a platform to create awareness on the right citizenship, residency options and visa programs in many countries.
Besides the UAE, which has been home to over 8 million expatriates and dubbed as an ideal hub for second citizenship and residency prospects, participants were made aware of prospects in countries such as Australia, Canada, Cyprus, Caribbean, Hong Kong, South Africa, Spain, Singapore, Malaysia, Panama, Portugal, Brazil, New Zealand, Thailand, USA, and the UK, among others.
Expatriates show keen interest
Expatriates from India, Pakistan, Syria Lebanon, Palestine, Philippines and a few other countries in the Middle East, Asia and Africa looking to obtain a start-up visa showed keen interest to exhibitors specializing in “Citizenship by Investment”. Participants were presented with updates on leading investment migration programs and related opportunities across the world.
According to a study by New World Wealth and Henley & Partners, in the UAE, Dubai has the maximum 42,400 millionaires, followed by Abu Dhabi with 23,800 millionaires.
Arun Bose, Associate Director, Dome Exhibitions, LLC, said: “Since its launch in 2016, the Citizenship Expo has served as an ideal platform to over 500 industry experts in ‘Citizenship by Investment’ from across the globe. 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 2025. The online registrations this year show a gradual increase in interest from expats, who are looking for a second home as an investment during this year’s exhibition.”
Over 50 exhibitors from 30 countries showcased more than 60 programs and projects and evoked much response from over 2,000 participants. The previous edition of this event was a tremendous success with over 30 exhibitors showcasing the benefits of international citizenships, where powerful passports, visa-free travel and tax and wealth management benefits provide secure opportunities to individuals, families, and businesses.
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