Golden visa schemes are response to conflicts, Trump's decisions on U.S. citizenship: Dubai-based immigration expert
'United Arab Emirates has started the golden visa scheme that will give ten year visa for high net worth individuals and for individuals with extraordinary skills from India and other countries. Argentina is also expected to start the golden visa scheme later this year,' said Mr. Boiko, explaining that the way global immigration rules are being redefined against the background of the tough changes that are being introduced by the U.S. administration.
President Trump on January 20 issued Executive Order 14160 'denying citizenship to persons born from a mother who was unlawfully present in the United States and the father was not a U.S. citizen or lawful permanent resident (LPR) at the time of said person's birth'. The order has been at the centre of a fierce debate and has been challenged in the court putting a question mark on the citizenship status of many U.S. citizens.
Mr. Boiko, who started 'Garant In' in 2009 as a citizenship and residency advisory service in Dubai, said changing rules and taxation are pushing more and more high achievers to find safe locations where they can ensure safety of their finances and conduct business without hindrance.
'The UAE's golden visa will give high net worth investors and high achievers from India and other countries the edge of Dubai while they will continue to be based in India,' said Mr. Boiko, adding, 'You can get the golden visa without surrendering Indian passport and this will increasingly become a trend worldwide'.
Mr. Boiko pointed out that while some countries in the West are cracking down on illegal immigration from the Global South, there also some western countries especially Portugal, Italy, France in Europe who want to welcome high net worth individuals from major countries in the Global South. 'Taxation, future security of finances and investment into the next generation, status symbol, are also among the reasons that are prompting high net worth people from the Global South to explore possibility of becoming a long term resident of a country like Italy and France,' said Mr. Boiko.
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