International investment is inherent with risks and continual change. As globalisation becomes more pronounced, people are increasingly likely to move abroad in order to achieve personal goals or provide a better life for their family. This phenomenon is now so prominent that many high net-worth individuals (HNWIs) now dedicate significant time and resources to residency and citizenship planning.
Martin O’Connor, Kylin Prime Group’s CEO recently caught up with Fortune Wisdom to discuss how investment migration can reduce inherent investment risk by diversifying your assets.
Modern Investment Migration trends
In 2015, the number of global immigrants reached 244 million, far exceeding the figure of 153 million from 1990. Commenting on this trend, Martin said “Everyone has their own views on globalisation. The development of globalisation is a change in the development of Westernisation, and may result in greater integration of Eastern and Western cultures. The path of globalisation is highly changeable, as evidenced by the change of global leadership in the previous century with the United States overtaking the United Kingdom as the global leader. Moreover, the rapid development of China this century has been clear for all to see. Given the tremendous amount of talent in the country, I believe that the 21st century will be dominated by China and that the talent emigrating from China will bring a lot of benefits to Western countries and culture. Therefore I believe that migration is not the loss of Chinese talent, but rather the promotion of the exchange of talent between the East and the West.”
While globalisation is undoubtedly promoting the multidirectional flow of talent, in the case of China, more and more HNWIs are looking abroad as a means of securing a brighter future. Countries have recognised the opportunities this brings about with many initiating CBI programs in an attempt to lure this talent to their country. In exchange for making an investment (or in some cases a government donation) into the country, the investor will attain the same rights as a citizen of the country such as access to the local healthcare and education systems and even gaining access to that countries passport.
Martin continued “Global migration will result in a positive impact in society at many levels and on multiple dimensions. It will create jobs, stimulate local and national economic development, and promote the integration of society and culture. A healthy migration industry could potentially be a driving force aiding global growth in the future.”
The interview then turned to some of Kylin Prime Group’s plans for the future, to which Martin outlined two of our company’s most exciting plans to date. Firstly, Martin spoke of the Future Citizen Institute, a research institute focused on studying the phenomenon of globalization, global mobility, investment residency, and citizenship-by-investment thereby increasing awareness of these increasingly relevant phenomena.
Martin concluded “The importance of CSR cannot be overlooked. Charity projects are a way for companies to give back to society and aid economic development. For example, in Ireland we plan to donate €4 million euro to local charities, of which €4 million has already been put into use in cultural exchanges and education. We hope to develop similar donations in the long term. Our investment goals are very simple, but there is a strong underlying sense of charity ensuring our corporate interests and philanthropy is not lying in conflict.”
A healthy investment migration industry is in everyone’s best interests, and will be critical in improving global integration and creating a brighter future, both for families and wider society.