New Delhi: PHD Chamber of Commerce and Industry hosted an interactive session on “GRACE Live- Challenges and Opportunities for Residency and Citizenship Solutions Post COVID -19”. The objective of organizing the webinar was to understand the scope and process of residency and citizenship in different countries and their advantages and prospects.
Mr. Prashant Ajmera, Ajmera Law Group, gave an insightful presentation on Why Indian HNIs should consider Residency and Citizenship by investment. He focused on out of India education which can be done profitably under Residency and Citizenship by Investment, Global Real Estate, Global Stock Market and related projected and Global Business. He said that there are numerous benefits of Residency and Citizenship by investment apart from securing education facilities which are Diversification of Portfolio, Business Expansion, Visa-Free Travel, and many more.
Mr. Mohammed Asaria, Managing Director & Founder, Range Developments while giving a short glimpse about Range Developments, gave insights about citizenship in Grenada which by investment is one of the most sought after CIP programs in the world. it is one of the popular citizenships which has numerous benefits including Swift Procession, Dual Citizenship, USA E-2 Visa Application, the 5-year investment holding periods, visa-free travel to over 130 countries of the world, providing world-class education and much more. He further deliberated about the process of application, benefits, and funding required.
Ms. Inga Wellings, Business Development Manager, CS Global Partners talked about citizenship in Caribbean countries. She explained CBI and applicant citizenship rights received. She talked about the growing business and growth opportunities in the Caribbean countries and presented a case study on Dominica, which can be a business destination for the future. She gave an insight into the processing of the CBI Application which is facing challenges and responses during to COVID-19. There is a change in the around and procession of documents, completion of due diligence, and document dispatch which needs to be considered while applying for citizens in Caribbean countries. Caribbean countries can drive demand opportunities in Economic stability, health, global mobility, business opportunities, quality life, and others making it a destination for the future for personal as well as family growth.
Ms. Leena Motwani, Associate Vice President, Arton Capital, gave a presentation on Montenegro Citizenship by Investment and Portugal Golden Residence Permit. She explained the benefits of citizenship in Montenegro and Portugal, its benefits, qualifications, investment options, and an increase in the passport holders.
Mr. Christos Th. Vardikos, Attorney at Law, Consultant, Commonwealth of Dominica deliberated about citizenship in Dominica which has citizenship benefits which include dual citizenship, visa-free travel to more than 140 countries, tax-free status, and much more. he also explained about the Real Estate and Investment growth perspectives. he discussed the documentation required along with the process of application.
Mr. Christos Th. Vardikos further talked about Europe Travel Information and Authorization System (ETIAS) and Green Golden Visa Program which given enormous investment options for which can be beneficial for the future.
The session was followed with a panel discussion which was moderated by Mr. Mark Davies, Chairman, Davies & Associates LLC with Mr. Ramin Asgard, Senior Vice President of Global Business Development, FirstPathway Partners and Mr. Matt Hogan, Vice President of Project Development, CMB Regional Centers who shared their viewpoints regarding the USA EB5 and E2 investors visa. They also deliberated about future Visa and citizenship opportunities and processes for the USA and Canada. They gave an insightful discussion regarding highlighting their programs and perspectives. Mr. Ramin Asgard said that the US is the first preference of any student. Getting EB5 or E2 visa depends on time frame and purpose. It takes more than 5 years to get an EB5 visa, but it is a great option. Mr. Hogan said that it is very common for an Indian to ask about an EB5 visa because there are a lot of advantages of moving to the US for business, job, education, and lifestyle upliftment.
Dr. D. K. Aggarwal, President, PHD Chamber of Commerce and Industry, in his presidential address mentioned the scenario of global residency and citizenship in the past few years and now in the present world under the COVID-19 pandemic crisis. He further deliberated about the benefits of having multiple citizenships and stressed that post-COVID-19, there will be a paradigm shift about the lifestyle and working environment and presences towards citizenship as well.
Dr. D. K. Aggarwal said that countries have huge opportunities and citizenship is a way to avail of most of the opportunities and maximize one’s taxes, expand markets, and business. But there are disadvantages as well, the risk of double taxation. He raised questions regarding security concerns of health services and other facilities post COVID-19 in other parts of the world. He also mentioned and recommended all the investors to practice due diligence before making any decision regarding taking up any residency Citizenship Program, as PHDCCI is only acting as a facilitator.
The webinar was sponsored by CS Global, FirstPathway Partners, Davies & Associates LLC, CMB Regional Centers, Vardikos & Vardikos and supported by Ajmera Law Group, IIUSA, Range Developments, and Arton Capital. The first session was moderated by Mr. Prashant Ajmera, Founder of Ajmera Law Group and the second session was moderated by Mr. Mark Davies, Chairman, Davies & Associates LLC with other delegates and was attended by senior members of PHD Chamber including Mr. Pradeep Multani, Vice President, Mr. Saurabh Sanyal, Secretary-General, PHD Chamber along with more than 150 industry stalwarts from all over the world. Overall Session was moderated by Mr Naveen Seth, Principal Director, PHDCCI.