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New Research Reveals Top Residence-by-Investment Cities for Business

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In response to a dramatically changing global landscape, with business and talent relocation on the rise for a host of factors — from the US-China trade wars, to Covid-19 and remote work, and the G20 proposal for a global minimum corporate income tax — Henley & Partners in partnership with Deep Knowledge Analytics today launched the Best Residence-by-Investment Cities for Business Index.

This unique new index ranks the leading 25 capitals and cities around the world that international entrepreneurs, company owners, professionals and HNWIs can acquire residence in through investment migration programs. Using an interactive tool, users can select the different factors ­that matter most to them to make strategic, data-driven decisions about where best to locate their headquarters, executives, employees, and themselves and their families in the current and post-pandemic landscape.

This collaboration between Deep Knowledge Analytics, a subsidiary of Deep Knowledge Group that produces advanced analytics to deliver insightful market intelligence and pragmatic forecasting, and Henley & Partners — the global leader in residence and citizenship planning — draws on multiple datasets, including Deep Knowledge Analytics’ Covid-19 City Safety Ranking and Henley & Partners’ Global Residence Program Index, published in Investment Migration Programs 2021.

A useful, data-driven tool for making strategic relocation decisions

Spanning five regions, the Best Residence-by-Investment Cities for Business Index taps into over 1,000 data points and more than 40 different parameters and sub-parameters to rank the cities according to 10 main categories that represent the most pressing relocation considerations: lifestyle, tax, education, real estate, healthcare, security, infrastructure, and stability, as well as Covid safety and the relevant investment migration program.

Dr. Parag Khanna, FutureMap Founder and author of upcoming book MOVE: The Forces Uprooting Us says that at a time when nations are plagued by great disparities in wealth and culture, the focus on leading cities rather than countries is very welcome. “Technological connectivity is creating new vectors of mobility for millions of people. Though we are evolving towards a world in which ever more work is conducted in the cloud, management and employees still have to be somewhere, and given the diverse risks businesses face, from pandemics to conflict to climate change, they must think very carefully about where to expand or relocate, seeking hubs that offer a high degree of reliability in their capacity for business continuity under diverse scenarios.”

Diversifying your domicile portfolio

CEO of Henley & Partners Dr. Juerg Steffen who has published definitive books on high-net-worth relocation to Austria and Switzerland, says the index is invaluable to those considering investment migration as a means of creating optionality in terms of where they and their families can live, work, study, and invest. “Residence-by-investment programs provide a channel for building a migration portfolio of multiple complementary residence and citizenship options to hedge against volatility and take advantage of new opportunities in the pandemic world order.”

Dmitry Kaminskiy, Co-founder and Managing Partner of Deep Knowledge Group and author of a forthcoming book on longevity politics adds that the ‘health as the new wealth’ paradigm and the realization that healthy longevity is a fundamentally new, precious asset class are prompting investors to rearrange their portfolios. “An increasing number of governments are also planning and executing strategies to develop their longevity industries. Soon, ‘age-friendly’ cities will be superseded by ‘longevity-friendly’ valleys where you can remain professionally, mentally, socially, and economically active for as long as possible.”

London reigns supreme overall

The five cities that take the top spots in the index — London, New York, Sydney, Singapore, and Zurich — indicate the wide geographical range of available residence-by-investment program options. In 1st place with the highest score by an impressive margin is London. Performing well in many parameters, the financial capital’s three highest scores are in education, security, and stability. The UK Investor Immigration Program introduced in 1994 is one of the longest running, most established residence-by-investment options, providing access to a dynamic business environment and world-class education.

New York – Excellent for business and education

Education, security, and stability are New York’s top strengths, galvanizing it into 2nd spot. A global center for finance and commerce, the big apple offers access to no less than 130 higher education institutions and scores highest overall in the index for education. The US EB-5 Immigrant Investor Program was created in 1990 to stimulate the economy by allowing foreign entrepreneurs to reside in the USA permanently after investing in an American business, although its Regional Center Program has lapsed. Alternatively, participants in Grenada, Montenegro, or Turkey’s citizenship-by-investment programs are then eligible to apply for the E-2 Investor Visa that allows applicants to live, work, and study in America.

Sydney, Singapore, Zurich – Secure, stable, sustainable

Sydney, Singapore, and Zurich, in 3rd, 4th, and 5th places, respectively, all score highest in security, infrastructure, and stability, with Sydney taking the number one spot overall for security. Australia has been focusing on attracting the brightest and best to strengthen its economy and grow its future-focused sectors. Successful entrepreneurs can apply for any of Australia’s residence-by-investment options to obtain permanent residence, while the Global Talent visa was specifically designed to attract dynamic, highly skilled tech individuals to relocate to Australia’s safe shores.

Southeast Asia’s powerhouse Singapore scores highest overall in terms of Covid safety, lifestyle, and infrastructure. Renowned for its low crime rates and ease of conducting business, the city-state houses the headquarters of over 35,000 global companies and recorded a USD 24 billion in real estate sales in the first six months of 2021.

Turning to Europe, with its high standard of living and burgeoning healthcare sector, Switzerland’s capital Zurich is the top performing residence-by-investment city in terms of healthcare and stability and is perennially a highly sought-after option for ultra-high-net-worth investors and entrepreneurs.

Vienna and Lisbon – Top residence programs

Joint-1st in terms of Austria’s and Portugal’s residence-by-investment offerings are Vienna and Lisbon, which both also score highly in security and stability — increasingly important drivers for investment migration and business relocation. Both European cities are popular choices for multinational firms to base their headquarters — Vienna’s appeal lies in its highly skilled labor force and excellent productivity levels, while Lisbon has a flourishing tech sector thanks to Portugal’s business-friendly policies and the top talent emerging from its universities. Rome and Zurich are joint-2nd thanks to Italy and Switzerland’s attractive residence programs, while Athens is 3rd, with the Greece Golden Visa Program being a particularly popular option.

Dubai, Riga, Limassol, Athens, Bangkok, and Port Louis – Tax-friendly, affordable, high-standard-of-living options

While just missing out on the Top 10, Dubai in 11th place is not to be overlooked. The Middle Eastern emirate’s pioneering capital scored highest overall in the index in tax, owing to its zero corporate tax, as well as ranking 2nd when it comes to Covid safety.

The relative smallness and historic charm of Latvia’s capital Riga (17th) compared to other important European cities is increasingly appealing to foreign investors and high-net-worth families, with its pro-business environment and attractive tax allowances.

Limassol (19th), Cyprus’s vibrant cosmopolitan port city, has developed into a leading regional financial center, with an attractive tax regime and excellent infrastructure in addition to benefiting from Cyprus’s EU membership. Cyprus has one of the lowest corporate tax rates in the EU and its government is business friendly.

Europe’s oldest capital Athens (20th) offers a more relaxed, less bureaucratic business environment, with numerous tax cuts and other incentives for foreign investors. Safe, affordable, welcoming and exceptionally beautiful, Greece is hard to beat when it comes to lifestyle and is rapidly regaining ground as a desirable investment destination too.

The bustling city of Bangkok (23rd) is a cost-effective gateway to Asia with a stable economy, and Thailand offers numerous government incentives for foreign business owners, including tax exemptions and import duty concessions.

And finally, Port Louis (24th) in Mauritius is an attractive, safe, well-governed, politically stable African hub, perfectly positioned between Asia and Europe, with appealing tax incentives. As a top-level Exclusive Economic Zone, the presence of numerous multinational companies endorses Port Louis as an excellent location for business.

Cities that welcome foreign workers and investors will succeed

The pandemic-era population declines seen in global capitals was less a consequence of residents fleeing than the absence of new migrants to replace them, according to Greg Lindsay, Director of Applied Research at NewCities. “The health and wealth of cities are inextricably bound to the migration and security policies of their federal governments — as New York, London, and Hong Kong have all recently discovered to their lasting regret. In a world gradually pivoting from the pandemic to what the Intergovernmental Panel on Climate Change predicts will be several decades of mounting climate disasters, safe harbors will be at a premium.”

Dominic Volek, Group Head of Private Clients at Henley & Partners, says the key takeout from the Best Residence-by-Investment Cities for Business Index is that there are abundant opportunities for affluent and talented individuals considering relocation. “Along with seeking out new domicile options for their families, more and more investors are considering relocating their businesses. This trend had begun pre-pandemic, but it is accelerating. All 25 cities are proactively welcoming foreign investors, and while some are clearly leading the pack, each has its strengths and particular appeal.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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FG Reveals When Abuja-Kaduna Train Route Will Commence Operations

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The Federal Government revealed that the Abuja-Kaduna train route will fully commence operations when it has launched the relevant surveillance technology for the trains.

This was disclosed by the Minister of Transport, Mu’azu Sambo during a visit to the Idu and Kubwa train stations on Tuesday in Abuja, according to NAN.

The Nigerian Government had earlier revealed its agenda to execute surveillance technology on the trains to avoid further attacks, since the March 28 terrorist attack on the route.

The Minister expressed optimism that the abducted train passengers would be reunited with their families soon, citing that important steps are expected to be carried out to ensure the safety of the passengers.

He said, ”First and foremost, it is very essential to get those Nigerians that were abducted reunited with their families, otherwise it will be perceived as if government is not sensitive.

”Whereas government is not only sensitive, but the government is doing all it can to make sure that those affected by this tragic incident are reunited with their families.

”Secondly, adequate security and infrastructure must be put in place to safeguard and avoid all forms of threats that are possible and leave what you cannot do to God.”

He affirmed that the FG is trying to deploy the best technology available anywhere in the world which has performed very well in other jurisdictions. He added that the FG was processing to obtain explosion detectors that would detect and terminate threats on the track.

The following Should be Brought to Notice:

  • The Nigerian Railway Corporation (NRC) suspended train operations on Abuja-Kaduna route after the terror attack on March 28.
  • In March, the FG announced plans to toughen security in its railway infrastructure, disclosing that it will enforce an integrated surveillance system in the Abuja-Kaduna, Lagos-Ibadan and Warri-Itakpe railway systems.
  • Investors King reported on the 19 May, 2022 that, “The government wishes to assure the relatives of the abducted citizens still in captivity that the safe rescue of these passengers is a top priority and not to misconstrue the resumption of train services, like abandonment or nonchalant attitude of the government towards their plight over 60 people remain kidnapped.“

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South Africa Visa Application Centres Resume Services in Two Cities for the Convenience of Nigerian Nationals  

Effective 13 July 2022, our South Africa Visa Application Centres in Lagos and Port Harcourt have resumed operations for the convenience of Nigerian nationals residing in these locations.

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Effective 13 July 2022, our South Africa Visa Application Centres in Lagos and Port Harcourt have resumed operations for the convenience of Nigerian nationals residing in these locations. Applicants can now visit our South Africa Visa Application Centres in Abuja, Lagos and Port Harcourt for all visa categories at the following operational timings (except all public holidays):

Monday to Friday from 8 AM to 3 PM.

South Africa is a key destination for Nigerian nationals for business, holidays, visiting friends and relatives, education and medical care. To book their appointments based on their purpose of visit to South Africa at a Centre closer to their location, applicants can visit our website (https://visa.vfsglobal.com/nga/en/zaf), call our helpdesk at 08150188800 or email us at info.zang@vfshelpline.com for any assistance.

Mr. Hariprasad Viswanathan, Head- Sub-Saharan Africa for VFS Global, noted, “Our South Africa Visa Application Centres in Lagos and Port Harcourt are now fully operational effective 13 July 2022 for all Nigerian nationals seeking a visa to South Africa. Please adhere to the precautionary measures established at our Centres for their safety and that our of employees. Applicants who wish to avoid visiting public places can also use optional services, such as courier service for passport pass-back, so they do not have to visit the Visa Application Centre twice.”

Some key features (optional for greater convenience) at the centres for added comfort and convenience to enhance the overall experience of applicants include:

  • Premium Lounge facility for more personalised service at the Visa Application Centre
  • 24/7 Customer support through our call centre, email communication
  • Courier service facility for delivery of passport to your doorstep
  • Photocopy services for submitting high-quality copies of your key documents
  • SMS service facility to track your application

VFS Global has a long-standing relationship with the Republic of South Africa since 2010. Currently, we service the Department of Home Affairs through a network of 45 Visa Application Centres in 18 countries.

South Africa Visa Application Centre                              Address in Abuja:  Sterling Bank Plaza, 3rd Floor, Plot 1083 Mohammadu Buhari Way, Central Business District, Abuja, Nigeria                                                                                                      Address in Lagos:  Plot 110, Admiral Ayinla Way, Opposite Treasure Garden Estate, Third Roundabout, Lekki Phase I, Lagos, Nigeria                                                                                     Address in Port Harcourt:  Vineyard Shopping Centre, 88 Woji Road, GRA, Port Harcourt, Nigeria
Helpline: 08150188800                                              | Email id:  info.zang@vfshelpline.com                                      Website: https://visa.vfsglobal.com/nga/en/zaf                                                                                   Business hours:  0800 hrs to 1500 hrs (Monday to Friday, except scheduled holidays)
 
*VFS Global will be responsible only for accepting applications for client missions. All applications submitted will continue to be assessed and processed by the respective client missions. Timelines for turnaround are as per the discretion of the authorities

 

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Travel Demand Rises by 135% in Africa in May

The International Air Transport Association (IATA) has said African airlines recorded a 134.9% increase in Revenue Passenger Kilometres in May 2022.

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The International Air Transport Association (IATA) has said African airlines recorded a 134.9% increase in Revenue Passenger Kilometres in May 2022.

Revenue Passenger Kilometres is a measure of passenger demand in a given market.

According to IATA’s latest report, African airlines recorded a 16.4% increase in the average load factor per flight to 68.4% and capacity grew by 78.5% in the month of May. However, the report also noted that this was the lowest among regions surveyed.

In the month under review, African airlines carried 1.9% of the total world passenger air travel market.

Willie Walsh, director-general, IATA, said, “The travel recovery continues to gather momentum. People need to travel. And when governments remove COVID-19 restrictions, they do. Many major international route areas – including within Europe, and the Middle East-North America routes – are already exceeding pre-COVID-19 levels.

“Completely removing all COVID-19 restrictions is the way forward, with Australia being the latest to do so this week. The major exception to the optimism of this rebound in travel is China, which saw a dramatic 73.2 per cent fall in domestic travel compared to the previous year. Its continuing zero-COVID policy is out-of-step with the rest of the world and it shows in the dramatically slower recovery of China-related travel.”

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