thought leadership by Hangama Wanner Founder and Managing Partner KayHan Swiss
COULD THE CURRENT WORLDWIDE ECONOMIC CRISIS AND UNCERTAINTY BE AN UNPRECEDENTED OPPORTUNITY FOR THE RCBI INDUSTRY?
020 will forever be synonymous with the COVID-19 pandemic. This virus tore through the fabric of the globe, impacting all aspects of society. The hysteria left behind by the virus highlighted the frailty of our world order, with our interdependency and interconnection laid bare for all to witness. Governments scrambled to react with no plan in place for a forced global shutdown. Those lucky enough to have options were able to counter the health and economic devastation, while second citizenship and/ or residency proving to be the ultimate factor in giving people leeway to combat the global shutdown. Consequently, watching the world dangling on the brink of collapse, residency and citizenship by investment (RCBI) experts are compelled to shift from standing on the sidelines to taking action and identifying new opportunities. AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE The versatility of RCBI, with the health crisis accompanied by an economic downfall, was clear to all. While mobility and financial gains have always accompanied RCBI programmes, health care and government efficiency have now entered the fray as vital factors. OUT OF CRISIS, ARISES OPPORTUNITY The investment migration industry is set to undergo a facelift as major changes may come into play. Changes will be incurred by the apparent global need to refocus efforts in a more risk-averse structure. The past decade has seen the introduction of many start-up visas, innovation visas, and pilot programmes focused on tech, fintech, and development funds (social, health, or socioeconomic). As countries most affected by the COVID-19 pandemic battle an economic cataclysm, it would be
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THE CITIZEN
