What Investment property, offshore accounts and second residency

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DERREN JOSEPH:
Every country on earth, however, they phrase it, however, they brand it, some scheme, or some program where you can hand over cash and you can get residency, at least every country, every country name the country and I’ll tell you that it has one. Of course, I’m excluding North Korea, Cuba, that kind of stuff, Iraq, Iran, but basically, it’s normal. So, depending on the jurisdiction, part of the residency by investment may involve or citizenship by investment may involve buying property.

So, for example, the five Caribbean islands, it offers citizenship by investment, which will be Antigua, St. Kitts, Dominique, St. Lucia, St. Vincent, Grenada, I think a double count. So, they’re all, as far as I’m aware, they have a real estate portion to get that citizenship. In terms of residency, you can get a residency by investing in real estate and in many European countries like Portugal, Greece, Cyprus, Eastern Europe in Montenegro and so on and so forth.

So, my point is that the investment in real estate can also come with fringe benefits such as legal residency. But having said that if you are not really interested is not part of your plan to get residency in a jurisdiction. You can just, depending on the laws, of course you can invest in real estate. And by having some connection to the jurisdiction, it makes it easier to have that conversation with the bank to open a bank account because they always ask, well, so why are you here? If you’re not a citizen or resident, why do you want to open an account with our bank? And if it is that you have an investment property and therefore you have local source income, then it just, it makes sense to, to have a bank account. So that, that it makes a conversation easier. Of course, some jurisdictions are easier than others because like in Southeast Asia, the only country that I’m aware of that allows you to buy landed property would be Malaysia and everywhere else, you just get air rights. You really can’t get into a landed property like you can in Malaysia, but it’s easier, of course, in Latin America, maybe Africa, Europe, so on and so forth.

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