Middle East. One of the richest countries in the world, thanks to its oil and gas reserves, has announced the start of Qatar Entrepreneur Residency Program
This Middle Eastern state is ready to issue five-year residency permits to highly qualified professionals and entrepreneurs. Moreover, businessmen will have to submit an original business plan for implementation in Qatar. And then get approval from a local business incubator, for example, Qatar Science & Technology Park or Qatar Fintech Hub. It is stated that the amount of investment from the candidate in his own project must be at least QAR 250,000 (about US$68,671).
But qualified specialists should not make investments. They may provide a contract of employment with a Qatari company or a formal job offer.
But it is necessary to comply in the field of activity with 13 areas declared by the authorities, such as sports, education, scientific research, innovation and art.
And also show the presence of the required minimum capital (about US$10,000) to cover all expenses while completing the immigration process. Conveniently, the process can be started online through a special government website. Application fees for the Qatar Entrepreneur Residency Program are approximately US$1,100 for qualified professionals and approximately US$1,380 for entrepreneurs.
Note that the Qatar Entrepreneur Residency Program is probably inspired by the success of its neighbors in the region with their UAE Golden Visa. The program has become one of the most successful in the world, issuing 152,000 visas since 2019.
Latin America. Are you a scientist or philosopher? Request a passport of Salvador
In early April 2024, the President of the Republic of El Salvador, Nayib Bukele, promised to issue 5,000 passports to foreign highly skilled workers. And also, these specialists will be able to take advantage of a 0% tax rate and tariffs on assets and property for the relocation of families, including equipment, software and intellectual property. We also note that a month ago the El Salvadoran parliament abolished the tax on money transfers from abroad.
“We’re offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad. This represents less than 0.1% of our population, so granting them full citizen status, including voting rights, poses no issue,” Bukele said in a post on social media. “Stay tuned for more details,” – he added.
Asia. Meanwhile, Golden visa programs are also popular in Asian countries.
For example, Hong Kong is restarting its program after almost a five-year hiatus. Basic conditions: investment in the state fund CIES more than HK$3 million ($383,000) + at least HK$27 million ($3.4 million) used as investments in securities, certificates of deposit, limited liability funds or the purchase of a commercial or industrial real estate. On the first day of operation, Invest Hong Kong received more than 100 inquiries. The number of quotas has not yet been announced, but officials say they are ready to process about 4,000 applications a year.
It is clear that citizenship or residency is a powerful tool for attracting both investment and talent around the world. If you are choosing a country to obtain permanent status such as a passport or residency, consult with Apex Capital Partners to participate in the optimal program for your goals.
