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Bartra Wealth Advisors’ Survey Finds Over 80% of Respondents Consider Emigrating Overseas

Posted on February 9, 2021February 9, 2021 by bwa

To understand the intent and views of the people of Hong Kong on emigrating overseas, Bartra Wealth Advisors (‘Bartra’), a subsidiary of Ireland’s market leading real estate developer and the first Irish immigration investment advisory in Hong Kong, conducted an online survey on emigration. From 1,200 responses, the survey found that 84% of respondents are currently considering or will consider emigrating overseas, among which the majority are high-income individuals including office workers, business people and professionals.

According to the survey, among the respondents who intend to emigrate about 85% of respondents claim that they will not leave Hong Kong within a year of obtaining an approval of their application to emigrate. The survey also found that over 50% of respondents’ decision to emigrate is in order to improve their living environment, while approximately 30% want their children to obtain a better education. To obtain a foreign residency/citizenship and political factors each account for 20%. As the people of Hong Kong gain a better understanding of Ireland, the country has increased in popularity as a destination for relocation, more so than other European countries and Malaysia. Currently, the top three destinations are the UK, Taiwan and the US. Meanwhile, the top three areas of concern for Hongkongers deciding to emigrate are the associated costs, the ease of application and language. Over 40% of respondents have considered obtaining residency by immigration investment, for which they care most about the security, return, and duration of the investment project, according to the findings of the survey.

Jeffrey Ling, Bartra Wealth Advisors Regional Manager, said, “Although the UK is still the top pick for relocation for the people of Hong Kong, uncertainty increased after Brexit which may affect the politico-economic environment in the UK. As a member of the European Union and part of the Common Travel Area with the UK, Ireland, an English-speaking country, is a gateway to both the UK and EU countries with promising business prospects; it is the first choice for many companies looking to relocate their headquarters. Moreover, this survey reveals that Hong Kong people require a great deal of flexibility around application and residency requirements via investment immigration, and they show a high degree of concern about the robustness and security of the investment projects. Both of these requirements are met by the Immigrant Investor Programme (‘IIP’) qualified projects that Bartra offers.”

Since the desire of high-net-worth clients to immigrate is strong and their top choice remains the UK, Bartra recommends they ensure a full understanding of the local investment market performance before immigrating. Wealth and investment management firm Harris Fraser was specially invited to conduct market analysis and share views on investment opportunities and wealth management trends. Cyrus Chan, Harris Fraser Investment Strategist, said, “With widespread vaccination programmes underway, the global economy is expected to recover faster than expected. However, although the UK and the EU came to an agreement for Brexit last year, relevant implementation details still need to be clarified. The troubled British economy may rebound, and the Irish economy will benefit from it. In addition, with the structural changes in the global economic environment, the wealth management needs of high-net-worth clients increase accordingly. Currently, more popular investment strategies include yield enhancement strategy, financial leverage, Euro asset allocation and focus on the healthcare sector.”

The pandemic has disrupted the relocation plans of many people in Hong Kong. According to the survey, Hongkongers require more time as well as a high degree of flexibility when planning for emigration. Jay Cheung, Bartra Wealth Advisors Marketing Director, said, “In the current climate, investment immigration services and products need to have three advantages: 1) high flexibility and fast-track process; 2) product safety and strong demand; 3) ability to add value and integrate with wealth management services.”

By investing in Ireland’s Immigrant Investor Programme (‘IIP’), application will be approved within 4-6 months, and applicants are only required to reside one day per year in Ireland to maintain their residency; in other words, they can obtain a foreign residency without relocating. Many of Bartra’s clients have already been granted permanent residency of Ireland, but have remained living and working in Hong Kong. In addition, Bartra commands unrivalled creditability in Irish immigration consultancy services. The Social Housing and Nursing Home projects Bartra offers to Hong Kong clients planning to obtain permanent residency in Ireland can be achieved in three or five years, and both guarantee 100% investment capital protection. They each have an approval and renewal rate of 100%. In addition, the Nursing Home project has an annual return of 4% paid on maturity, which is fitting of a high demand healthcare sector. As for the ability to integrate wealth management services, apart from cash, IIP applicants can use stocks, funds, cash value of insurance policies, properties, or even parking spaces and valuable paintings and collectibles etc., for asset requirement approval. Some clients will seek advice from financial services to pledge/refinance their assets to fund investment immigration in the current low interest environment so as to obtain residency without exiting from existing investments.

Pictures are Bartra’s press conference in early February.

Hong Kong’s Most Outstanding Enterprise Awards 2020 – Bartra Wins Most Trusted Immigration Investment Services Award

Posted on January 18, 2021January 18, 2021 by bwa

Bartra is delighted to have once again been recognised by the industry at CORPHUB’s Most Outstanding Enterprise Awards in Hong Kong. Following our success at last year’s ceremony where we took home four awards, this year we were named Most Trusted Immigration Investment Services by the prestigious professional platform, which seeks to highlight enterprises on the rise and celebrate their achievements in various sectors.

At Bartra, we strongly believe that what makes us successful is our business model. As the only Irish developer with a physical office in Hong Kong that offers investors direct investments into our safe, transparent, fixed asset projects, along with the opportunity to gain Irish residency, we are the leading IIP provider and the strongest player in the market.

We pride ourselves on our 100% success and renewal rate, our robust projects in qualifying Social Housing and Nursing Homes projects, and our unmatched expertise in the IIP. Compared to other European immigration programmes, our Social Housing project offers a 100% repayment guarantee and the exit strategy is simple and straightforward without any of the hassle related to liquidation or concerns around market performance. Investors in our Nursing Homes projects enjoy the same simple and straightforward exit strategy, and receive a 20% return (4% interest each year) upon exit of the Euro1 million, five-year investment on top of obtaining Irish residency. This ensures that our IIP is not only cost-free but includes an excellent return which investors can put towards a property purchase or their children’s education. The safety of the investment coupled with the excellent return makes the IIP one of the most attractive investment migration programmes in the world.

To find out what makes Bartra’s business successful, watch the exclusive interview with our Regional Manager, Jeffrey Ling, below (in Cantonese).

Or read the interview here.

Keen to learn more about beginning your immigration journey to one of the world’s most enticing destinations – Ireland with the expertise of a best-in-class Irish developer? Contact us today!

(Part 2) Brexit and beyond: 8 things to know about the future of the UK and Europe

Posted on January 11, 2021 by bwa

In our previous article, we discussed four important things to be aware of post-Brexit. But the UK-EU deal presents opportunities, too.

From 1980 to 2020, Europe’s five largest economies have consistently been France, Germany, Italy, Spain and the UK. However, as COVID-19 has raged through Europe and the UK has departed from the European Union, many EU nations are facing deep recessions, with the economy of the EU forecast to contract by a record 7.4% in 2020.

Meanwhile, Ireland’s star has been rising. Ireland remains a strong and committed member of the EU post-Brexit. Politically, it is taking its place among the nations of the world. On a per-head basis, Ireland has a good claim to be the world’s most diplomatically powerful country. In July 2020, the 19 finance ministers of the eurozone elected Irish finance minister Paschal Donohoe to be the president of their influential Eurogroup, putting Ireland in a powerful position as the EU debates ways to deal with the economic fallout of the global pandemic. In October, the EU appointed Ireland’s Mairead McGuinness as the new commissioner in charge of financial services. Ireland also won a place on the UN Security Council, securing one of the ten rotating seats to join the five permanent members that include the US, UK, Russia, France and China.

Economically, Ireland remains a popular choice for investors looking to access the European market. With a low corporate tax rate of 12.5% (among the lowest in Europe) and favourable tax system, Ireland is a highly sought-after location for foreign investment and businesses. While the Global Financial Crisis caused a contraction in Ireland’s economy, which had been flourishing for the decade prior, it has regained its stability and for the past six years has been one of the strongest developed countries in Europe. And in terms of quality of life, Ireland ranked joint second with Switzerland, beating Sweden, Germany and the UK.

With a Brexit deal now agreed between the UK and the EU, Ireland appears to be the land of opportunity, particularly when it comes to global competitiveness. Here are four important elements to consider:

1. Business and employment

The Irish Government has continued to demonstrate its commitment to Foreign Direct Investment (FDI) by establishing a business environment that is conducive to FDI activity and Ireland remains a location of choice for many of the world’s leading companies. Indeed, more than 1,100 companies, including many of the world’s leading brands, have decided to place Ireland at the hub of their European operations. Additionally, 70 individual investments related to Brexit, with more than 5,000 associated jobs, have been approved since the UK’s EU referendum in June 2016, according to Ireland’s Foreign Investment Agency, IDA Ireland’s 2019 figures.

Cityscape of Dublin Docklands and river Liffey with modern buildings and barge on river. To date companies that have announced investments in Ireland connected to Brexit include Barclays, Morgan Stanley, TD Securities, Wasdell, Delphi/Aptiv, Simmons & Simmons, S&P Global, Thomson Reuters, Equilend and Coinbase. And Dublin remains the most popular destination for financial services firms to relocate to post-Brexit according to EY’s Brexit Tracker.

Besides the financial sector, Ireland is home to 9 of the top 10 global pharmaceutical companies, including Pfizer, Johnson & Johnson, Roche and Novartis. It is also the base for many US Tech titans; IBM was the first US tech firm to set up in Ireland in 1956, with Google, Microsoft, Intel, Apple and Facebook moving in more recently. Last year, Apple celebrated 40 years of continued investment and reinvestment in Cork.

“For US companies with ambitions to be global players, Ireland is a natural fit for their international operations,” said Martin Shanahan, CEO of IDA Ireland. According to IDA, 245,096 people were directly employed in the multinational sector in Ireland in 2019, representing about 10% of the Irish labour force.

Although the US remains Ireland’s largest overseas investor, investments into Ireland from China have surged in recent years. According to the Rhodium Group, FDI from China into Europe declined in 2019, but the opposite was true for Ireland. Figures from Baker McKenzie show that investment from Chinese companies rose 56% in 2019 through various M&A deals and expansions, meaning the world’s second-largest economy is becoming increasingly important to Ireland. Among these, Huawei announced a €70 million ($76.7 million) investment into research and development in Ireland in 2019, while in 2020 TikTok announced its plans to build €420 million ($500 million) data centre in Ireland.

The presence of foreign/international companies helps to create strong job markets which are crucial to immigrants. With more job opportunities in professional sectors, immigrants and any graduate children do not have to sacrifice their professional career and remuneration. With an increasing number of multinational firms, this could see the country open up.

2. Favourable market environment

The EU’s Single Market environment, together with the adoption of the Euro and support from the combined power of 27 Member States, have strengthened the Irish economy and allowed it to flourish. Ireland is now a nation with a modern economy based on free trade, foreign investment and growth.

It also has one of the most favourable tax regimes in the world, attracting hundreds of foreign companies. This is strengthened by the government’s long term commitment to its 12.5% corporate tax rate.

Language is vital for communication. And English is now the global language of business as well as being spoken at a useful level by some 1.75 billion people worldwide – or one in four people. Multinational companies are increasingly mandating English as the common corporate language. For two decades, English has been the ‘lingua franca’ of EU institutions in Brussels, used by EU policymakers to communicate about laws regulating subjects like energy, security and trade. After Brexit, Ireland will be the only Member State where English is spoken as its first language.

Ireland may have EU membership, a favourable tax system and a global first language, but it’s keen to offer more to boost its growth and productivity. The nation is currently updating its rules around private funds to encourage more alternative investment managers to use the country as a base for their European operations. The rules have been designed to appeal to private fund managers based in the UK who will lose the “passporting” rights that have allowed them to sell investment products across the EU pre- Brexit. Ireland is already Europe’s second-largest fund centre with more than 560 international managers using the country as a domicile from where they can sell their products across Europe and Asia, and this will only increase its appeal. Managers that establish Irish investment limited partnerships will be granted more flexibility when establishing private equity, private credit, venture capital, infrastructure, renewable energy and real estate funds under legislation which was approved in December 2020 in the Dáil, the Irish parliament. The reforms are expected to create several thousand jobs and new income streams for service providers. Currently, more than 16,000 staff are directly employed in Ireland’s fund industry including portfolio managers, administrators, trustees, auditors, compliance, legal and tax advisers.

3. Freedom of movement – UK and EU

Ireland remains a vital member of the EU and continues to benefit from the union’s economic and political stability. As EU citizens, Irish nationals can continue to live and work freely in any EU Member State and Irish citizens continue to enjoy other privileges, such as access to the European Health Insurance Card that provides them with healthcare while traveling throughout the EU. Students belonging to Irish institutions have access to the Erasmus+ programme and the right to study in the EU. Other perks for Irish nationals include waived mobile phone roaming charges when traveling within the EU.

Ireland will be the only bridgehead into both the EU and the UK following Brexit. The Common Travel Area (CTA) is a long-standing arrangement between the UK, the British Crown Dependencies (Jersey, Guernsey and the Isle of Man) and Ireland that pre-dates both British and Irish membership of the EU and is not dependent on it. Under the CTA, British and Irish citizens can move freely and reside in either jurisdiction and enjoy associated rights and privileges, including the right to work, study and vote in certain elections, as well as to access social welfare benefits and health services.

Thanks to its strategic relationships with the EU and the UK, and the freedom of movement that these provide, many international companies see Ireland as an important gateway to both the UK and Europe.

4. The popularity of Irish residency and citizenship

As Brexit sees the UK and EU go their separate ways, EU nationals residing in the UK must now apply for settlement, while UK citizens residing in the EU must follow suit and obtain resident permits. But there’s an exception – the Irish. And for this reason, Irish residency and citizenship are becoming increasingly attractive.

In particular, the Irish Investment Migration Programme is gaining popularity among wealthy individuals, not just because of its links to the EU and UK, but also due to its safety and simplicity. Compared to other Golden Visa programmes in Europe, the Irish Investor Immigrant Programme (IIP) outshines its peers. When investing in enterprises under the IIP’s investment options, the required holding period of 3 years is low compared to other European investment migration options (Greece, for example, requires an indefinite holding period), while the exit strategy is simple and straightforward without the need to liquidate investments; you simply get your money back. The IIP also only requires investment after approval, and unlike in other countries where the investment is required in real estate, investments in the IIP are hassle-free when it comes to exiting with no need for property management firms to rent out properties for ROI, nor the need for brokers to find buyers once the holding period is over. IIP makes the Irish immigration process simple, clean and efficient. To find out more, read about the Irish Investment Migration Programme on IMI.

Obtaining Irish residency in the most durable bridge between two of the strongest economies in the world, the EU and the UK, following Brexit, and is undoubtedly a wise move for international investors. This is something which the IIP sets the stage for in 2021. And we believe that interest in the IIP will only increase as businesses and affluent individuals recognise the personal and professional advantages of maintaining a foothold in Europe, and foresee strong demand from China, Hong Kong, Vietnam, India and the UAE, as well as interest from South Africa, Canada and the UK.

To find out more about our IIP, please do not hesitate to get in touch. Missed Brexit and beyond Part 1? Click here to read.

(Part 1) Brexit and beyond: 8 things to know about the future of the UK and Europe

Posted on January 6, 2021January 6, 2021 by bwa

The UK and the European Union (EU) finally agreed a deal on Christmas Eve that will define their future relationship. It replaces the partnership they have shared for the last 47 years. But will this take Brexit off the front pages or stop Brits talking about it? Or has the real Brexit battle only just begun? We have put together a summary of Brexit-related information to help you gain a better understanding of what the future holds for the UK and Europe.

What do we know about the deal?

The 1,246-page trade agreement has detailed provisions on many issues and contains new rules for how the UK and EU will live, work and trade together. Importantly, it means no tariffs or quotas will be introduced. However, while the deal came into force on 1 January, with everything left so late many people and businesses have not had much time to prepare for the changes.

There are four key things to be aware of:

1. Economy

The British government’s own fiscal watchdog, the Office for Budget Responsibility (OBR), has said that the deal will dampen long-term GDP by 4%, meaning Brexit is projected to do more economic damage to Britain than COVID-19. The deal is also seen as a ‘thin’ deal, which means it leaves many unresolved issues to be dealt with in later negotiations.

Yes, the UK has avoided tariffs on trade, but there will now be other complexities and mountains of paperwork. The UK benefited from access to more than 20 EU systems, which do everything from track the movements of goods and vehicles to store risk profiles for goods and producers from around the world, with the UK sharing its own data as part of this. But after Brexit, although tariffs for goods will be dropped, more friction may ensue as a result of other trade barriers, such as the administrative burden on traders, complicated border processes, and limited information sharing between customs authorities. Additionally, the new import and export declarations alone are likely to cost UK companies £7.5 billion ($10.3 billion) annually, according to HM Revenue & Customs.

Unemployment will also be a challenge post-Brexit. Since the June 2016 referendum, the job market has been contracting, with many companies leaving the UK, downsizing or cutting jobs. For example, in the financial services sector, Aviva, Britain’s second-largest insurer, stated that it would move £7.8 billion worth of assets to Ireland, while Bank of America Merrill Lynch (BAML) announced a merger between its UK and Irish subsidiaries, transferring 125 jobs to Dublin, which remains BAML’s European headquarters. Additionally, British bank Barclays is transferring £166bn of its clients’ assets to the Irish capital, while Credit Suisse plans to move about 250 bankers from London to other European financial hubs. According to EY, £1.2 trillion ($1.6 trillion) of assets, along with around 7,500 employees, have been transferred out of the UK to the EU, including to Dublin, Luxembourg, Frankfurt and Paris by financial services firms.

UK unemployment is forecast to reach 2.6 million by mid-2021, according to the government’s economic watchdog, which represents 7.5% of the working-age population. This will compound the impact of the COVID-19 pandemic, which has resulted in nearly 300,000 jobs lost in the hospitality sector since February 2020. In addition, retail has shed 160,000 jobs as non-essential shops have been forced to shut, and culture has seen 89,000 jobs go. And those figures are only for staff on company payrolls; thousands more casual workers and freelancers have been affected too. It seems unlikely that the UK’s economy will rebound quickly.

2. End of free movement

UK citizens and residents will no longer have the right to work, live, study or start a business in the EU without a visa, though short stays will be allowed (visa waivers will apply). This doesn’t help those seeking to travel frequently and do business in the EU. Comparing market capacity, the UK’s population is about 66.4 million, but the European Union’s, excluding the UK, is six times larger, which may lead to unfavourable business opportunities.

COVID-19 has also movement less free. The UK is Europe’s worst-hit country, with more than 40 countries banning UK arrivals in December 2020. There were hundreds of passengers at London’s Heathrow Airport scrambling onto the last flight to Dublin minutes before a travel ban set in at midnight on 20 December to nations across Europe. Tighter measures may apply with prolonged quarantine and pre-departure PCR tests likely required even when the situation begins to ease.

3. Education

Students and young people from Britain will no longer be able to take part in the Europe-wide Erasmus exchange programme. Since 1987, the Erasmus programme has provided opportunities for students to go on exchange abroad, linked schools across the EU and offered work experience and apprenticeships in European countries. Around 200,000 people, including 15,000 British university students, have participated in the programme in its latest incarnation.

Vivienne Stern, the Director of Universities UK International, told The Guardian, “As I understand it, there will be grants for young people not just in universities but broader than that, to support study and possibly working and volunteering. These experiences help graduates gain employment, especially for students from low-income backgrounds who are the least likely to be able to travel abroad otherwise.” She added that any Erasmus replacement needed to be “ambitious and fully funded”, and that it “must also deliver significant opportunities for future students to go global, which the Erasmus programme has provided to date.”

4. Financial services competitiveness

No deal has been agreed for financial services, which will be worrying for many would-be emigrants holding professional qualifications, particularly as these qualifications will no longer be mutually recognised between the UK and EU and professional persons will have to be separately registered in each.

The EU and UK have not yet struck a deal that will provide UK banks and asset managers with access to European markets. EU regulators are unlikely to allow London to keep the benefits of the single market without its obligations, and EU banks will have to cease from using platforms in the UK for swaps, certain derivatives and Euro-denominated stocks from January. UK financial services firms will lose their passporting rights, which in the past allowed them to sell funds, debt, advice, or insurance into the EU from their UK base without the need for additional regulatory clearances.

Worse, it means that UK firms have to agree and comply with the individual rules of each of the EU 27 Member States if they wish to sell financial services there. The implications for a loss of financial services activity from the UK to the EU are significant.

Due to Brexit, almost 30 financial groups have moved operations from London to Dublin. “We’re now seeing those financial services firms who have relocated, gained their licensing and are operationally ready, focus a lot more on ‘business as usual’,” said Cormac Kelly, financial services Brexit lead for EY Ireland in an interview with the Irish Times.

The post-Brexit trade agreement leaves many questions unanswered, but while there is uncertainty, there is likely also opportunity. Stay tuned for Part 2 of our Brexit and beyond article, where we look at what else lies ahead for the UK and the EU.

Many of our clients are looking for an alternative to UK immigration after Brexit, while we are also receiving enquiries from the UK for Ireland immigration advice. Read our article on UK immigration post-Brexit to find out more.

An alternative to UK immigration after Brexit

Posted on December 4, 2020December 5, 2020 by bwa

“By failing to prepare, you are preparing to fail” – Benjamin Franklin

We know how important making plans ahead of time can be, which is why we are publishing this piece now instead of waiting for the Brexit transition due to take place on 31 December. Here, we hope to share some insights with would-be immigrants currently looking at whether the United Kingdom should be their future home given the uncertainty surrounding Brexit and BN(O) citizenship.

Immigration is potentially the biggest decision that an individual or family will make in their life, and it’s complex. You need to understand your options, prepare and know what to expect on relocation.

The UK is considered a traditional immigration hotspot by Hongkongers. But is it the only option? The Republic of Ireland, Europe’s rising star, has been gaining traction internationally, with its capital, Dublin, an emerging financial centre and technology hub. In terms of GDP per capita, Ireland is ranked among the wealthiest countries in the Organisation for Economic Cooperation and Development (OECD) and the EU-27. It’s certainly a worthy contender for would-be immigrants to consider.

But first, a bit of background.

Strong Historical Links

For over a century and a half, from 1842 Hong Kong was a British colony before being handed back to China in 1997. And lasting legacies of this time endure in Hong Kong, particularly with regards to education, which is largely modelled on systems in the UK, specifically England.

As early as the 1100s, Ireland was ruled by the British, with some considering Ireland to be England’s first colony. Whatever its status, Ireland inherited much from the Brits, not least elements of its education system, which has evolved over the years and is now ranked 6^th best in the world and is home to seven top-level universities.

Hong Kong people are, therefore, more familiar with Ireland than they might think. Hong Kong is also home to more than 6,000 graduates from Irish universities, and the education sector in Hong Kong has long-established Irish links; tens of thousands of people in Hong Kong have studied in Catholic schools run by Irish priests. Additionally, many of the colonial Governors of Hong Kong were born in Ireland or claimed Irish heritage, as were civil servants, police and judges from throughout Hong Kong’s colonial past. Today, many Irish business people, teachers and other professionals continue to build strong ties between Hong Kong and the Emerald Isle.

Education Matters

Education is of prime importance to parents, with early childhood education instrumental in a child’s social and intellectual development. In both the UK and Ireland, once residency is obtained children of applicants are able to enjoy free education and free choice of schools.

Some Hong Kong parents prefer that their children study in private schools where the student-to-teacher ratio is often lower, allowing teachers to spend more time on average with each student. However, with a smaller population in Ireland than in Hong Kong or the UK, both public and private schools offer small classes.

When it comes to comparing the ‘style’ of education, the Irish government pays more attention to personal development than schools in Hong Kong tend to, and students have less pressure when it comes to academic studies. However, Ireland believes that education is closely related to national planning, and vigorously promotes science, technology, engineering and mathematics education, with a vision to make Ireland an international centre for technology, science and financial services. Although some parents may send their children to top universities in the UK on completion of secondary education in Ireland, many have come to realise that Ireland has just as much to offer as England’s finest further education institutions such as Cambridge or Oxford. To learn more, take a look at our article on the many strengths of the Irish education system.

Trinity College Dublin, the University of Dublin is Ireland’s leading university, ranked No. 1 in Ireland and 101st in the world

So what are the options for those considering immigration and what costs and requirements are involved?

UK BN(O), UK Investor Visa and Irish IIP

UK BN(O)

For a BN(O) visa application, there is no direct cost or investment amount required. Expenses will be based on the costs of living for the whole family for at least five years. It’s important to pay attention to the restrictions of this option, as the whole family is required to reside in the UK to maintain residency. Additionally, BN(O) residents in the UK are restricted from accessing public funds. In most circumstances, BN(O) residents will not be able to enjoy social benefits, but will still be liable to taxes and national insurance. It is also worth noting that the UK is reviewing its Capital Gains Tax, which may usher in higher taxes or cut tax exemption.

UK Investor Visa

HNWIs seeking a residency visa for the UK can consider the Tier 1 Investor visa. The investment entry level is GBP 2 million, which is comparatively lower than the investment fund required by similar programmes in, for example, Australia or New Zealand.

Successful applicants will be granted a Tier 1 Investor visa initially valid for 3 years. The Tier 1 Investor visa can be extended for an additional two years as long as the main applicant does not spend more than 180 days outside the UK per year. It can also lead to UK permanent residency if the holders are able to meet the annual residency requirement for five consecutive years and maintain the investment fund.

Irish IIP

The Irish IIP is a cost-minimised immigration approach to obtain a foreign residency. It requires a EUR 1 million investment into INIS-approved projects for a minimum 3-year investment period to receive a Residence Permit (in the form of a Stamp-4 visa) upon approval. There a number of options for investment, but the Enterprise Investment route is the most popular. Bartra offers two Enterprise Investment options, Social Housing and Nursing Homes, both of which are safe and government-backed. The Social Housing scheme has a 3-year investment period with 100% repayment and no interest offered, while the Nursing Homes scheme is a 5-year investment with a 4% annual return (paid on exit), and 100% capital protection. The income from these projects is derived from a Sovereign Government, which is often described as ‘recession-proof’, even when taking into account external factors such as Brexit or global recession.

Transferability and Recognition

The Irish IIP is a straightforward immigration approach where applicants can receive permanent residency in one step, unlike for other immigration programmes where visas are initially only granted for temporary stay. The IIP has no travel restrictions to maintain residency status – just one-day residency in Ireland per calendar year is necessary. It provides flexibility and allows people to have a residency without moving, so there is no necessity to give up current jobs or businesses. This residency is later transferred to citizenship through naturalisation, which can be started at any time.

The Irish passport is the joint sixth strongest in the world, based on the number of countries its holders can visit visa-free. Its ranking is ahead of the US, the UK, Belgium, Switzerland and Norway, and it is the only passport in the world to provide both EU citizenship and the right to reside and work in the UK.

Comparatively, the BN(O) Visa offers five-year temporary residency, while a minimum stay of six months per year in the UK is required to maintain this residency status and there is no guarantee of transferability to permanent residency or citizenship at a later stage. It is also worth mentioning that the Chinese government is considering a ban on the use of the BN(O) passport as a legal travel document.

Similarly, the Tier 1 Investor visa requires that the applicant spend no more than 180 days absent from the UK in any 12 month period for 5 consecutive years in addition to the GBP 2 million investment. With an investment of GBP 10 million, two consecutive years with the same annual residency requirement are required.

The IIP investor and his/her family will be granted a Stamp 4 Visa, which is top-class immigration status. The immigrant also benefits from the added flexibility of being able to hold this status and enjoy social welfare benefits without having to reside in Ireland. Stamp 4 Visa holders’ children can enjoy free primary and secondary education and will pay the same university school fees as locals.

The BN(O) Visa is simply a means to work and reside temporarily in the UK. These immigrants have no access to social welfare benefits and its holders are often described as second-class citizens, which is an important element to bear in mind as quality of life should be a key consideration when weighing up options.

A Client Case Study

Bartra Wealth Advisors has received more than 1,600 enquiries related to immigration to Ireland in the past three months. Since August 2019, we have helped more than 50 families from Hong Kong successfully apply for Irish residency.

Jeffrey Ling, Regional Manager at Bartra Wealth Advisors in Hong Kong, shared one client story. Peter and May (both pseudonyms) are married with three children attending elementary school in Hong Kong. High-income, senior professionals, the couple had purchased properties in Hong Kong for investment purposes. They were keen to send their children (or go with their children) overseas to study, with a preference for an English-speaking country. However, their biggest concern regarding immigration was that they may not be able to find a job with a similar level of income after relocation, especially considering the current challenging times. The flexibility of the IIP was attractive, as it allows them to keep their jobs in Hong Kong while also obtaining residency overseas. In addition, due to its minimal residency requirement, they are considered non-Irish tax residents residing for fewer than 183 days a year, so there is no fear of double taxation. With its stable economic environment, strong legal system, world-class education, and accessibility to both the UK and EU, the couple felt that Ireland and the IIP fit their needs perfectly. The Advisory Agreement was signed with Bartra predominantly because the Enterprise Investment option we provide offers 100% capital protection with transparent and clear investment procedures. To find out more about the IIP and the projects we offer, start by reading our article The 4 Things You Must Know About the Ireland Immigrant Investor Programme.

In a recent webinar with South China Morning Post, we compared investment and immigration opportunities in the UK and in Ireland. Guest speakers included Liam Baily, Global Head of Research at Knight Frank; James Hartshorn, CEO and Co-Founder at Bartra; and Cheryl Arcibal, business and property journalist at South China Morning Post.

We hope this article provides you with the information you need to weigh up the available options and consider what works best for you and your families in terms of cost, requirements and quality of life.

Look out for upcoming articles where we’ll be comparing the economy and property markets in the UK and Ireland. If you have any questions or would like to find out more about the IIP, feel free to contact us directly.

The safest investment – Hong Kong iBond 2020 vs The Immigrant Investor Programme

Posted on November 4, 2020November 9, 2020 by bwa

The announcement of the latest iBond, which is the seventh series issued since 2011, is open for subscription at 9 am on October 23, 2020. The three-year-long, HK$10 billion worth bonds promises to provide a steady source of income for everyday investors, but there are always alternatives among the safe investments. We know an investment option that offers not only an almost guaranteed rate of return but also a world-class permanent residency.

What are we talking about?

In short, the iBond is an inflation-linked retail bond released by the HKSAR Government under the retail bond issuance programme of the Government Bond Programme. Offered at a minimum denomination of HK$10,000, the HKSAR Government will repay 100% of the principal amount at maturity, along with generating half-yearly interest payments which are based on the Composite Consumer Price Index. The guaranteed minimum payment is at 2%.

If you are investing based on the appeal of a safe and regular return, investing in iBond is sensible. However, if you are aiming for more, the Immigrant Investor Programme (IIP) can be a promising alternative.

The Immigrant Investor Programme (IIP) offers the applicant a secure residency status in Ireland through an approved investment. Depending on the choice of project, whereby we offer government-backed Nursing Home and Social Housing projects under the Enterprise Investment route, the applicant will receive their full investment of €1 million and 4% interest per year if they were to choose to invest in our Nursing Home projects. This means, at the maturity of the five-year investment period, the applicant will get an extra €200,000 tax-free, on top of their €1 million investment, as well as a STAMP 4 identity in Ireland.

How do you invest in them?

The iBond subscription period will start from 9 am October 23 to 2 pm, November 5. Applications can be done via placing banks, securities brokers, or the Hong Kong Securities Clearing Company Limited. If the total application amount is under HK$15 billion, all eligible applicants will be satisfied. However, if the total application amount is over HK$15 billion, the iBond will be allotted by lottery, where each chosen applicant only gets one hand of bonds. The iBond will then be issued on November 16 and be listed on the Stock Exchange of Hong Kong on November 17. The trading of it in secondary markets can happen after.

On the other hand, the IIP is open for application at any time of the year and the process is very simple.

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There are just four key steps to the IIP process:

Application
Approval
Investment
Receive residency

What is particularly attractive about this programme is that the investment is placed after receiving the approval letter. Not to mention, both of the assets of Social Housing and Nursing Home projects derive their income directly from the Irish State, making it a very safe investment for our investors.

Why should you care?

Both the iBond and the IIP are stable investments that offer promising investment returns. But as the intention to immigrate has spiked in recent years, being able to obtain a residency on top of an investment can be very appealing.

Ireland is an emerging emigrant destination for Hong Kong people. As the only English-speaking member of the European Union, Ireland is a gateway to both the UK and European countries, offering a great education system and enjoys one of the lowest corporate tax rates in Europe, increasing its appeal as a regional business hub for multinational corporations.

The time for getting approval for the IIP is only 4-6 months. There are no language requirements and the residency requirement is just one day per year, meaning that the applicant can obtain residency without moving.

The choice is yours

Of course, you should assess all the aspects of every investment you make, and there will definitely be variables that may change your mind. For example, the biggest barrier to the IIP is that the applicant is required to have €2 million net wealth. While we are able to offer investors a 4% annual investment return on their €1 million investment for 5 years, the iBond has historically exceeded the 2% minimum return, where their highest interest rate offered was 6.08% in 2011.

This is why we’re here. To find out more about IIP, how it works, what the benefits are, and how you can apply, speak with one of our expert advisors! Or simply complete the form below to download your IIP brochure.

The 4 Things You Must Know About the Ireland Immigrant Investor Programme

Posted on October 28, 2020November 23, 2020 by bwa

Immigration is not a strange concept for people from Hong Kong at all.

As small as a city we are, Hong Kong has gone through a handful of immigration phases throughout history. At the end of World War II, indigenous inhabitants in the New Territories of Hong Kong started moving to the United Kingdom and Europe. In the 1970s, Hong Kong residents were already immigrating to Southeast Asia, South Africa, and even South American countries. And, of course, after the establishment of the “Sino-British Joint Declaration” and starting in the 1990s, there was a flood of people immigrating to Canada, Australia, and Singapore. Now, locations like Taiwan, Malaysia, and even Japan are all being considered as immigration options for Hong Kong people.

However, conditions always apply to immigrants, and one of the deal-breakers can well be how long the applicant needs to stay in the country in order to achieve citizenship or residency. This is why Ireland stands out.

1. Stay for a day and qualify for a year!

Currently, the two popular options within the IIP investment schemes for people to immigrate to Ireland, 1) a personal donation of €500,000, 2) a corporate investment of €1 million. Though the first route is discounted to €400,000 per person if a group of 5 is donating together, the money is gone after the donation. Therefore, according to the statistical report of the Irish Naturalisation and Immigration Service (INIS) for 2015-2019, more than 70% of applicants have chosen to invest €1 million.

If the applicant decides to go ahead with investment immigration, they will receive the pre-approval letter within 4 to 6 months. Upon receiving the pre-approval letter, the applicant can make their investment within a timeframe of 90 days. If the applicant invests in our Irish Investor Immigration programme (IIP), we will confirm with INIS that the money is received. The earlier the applicant makes their investment, the earlier INIS will issue the applicant their landing permission letter. With that, the applicant can then visit INIS physically to get their Stamp 4 and Irish Residence Permit (IRP) on the first time of their landing.

Subsequently, every year until the applicant wishes to apply for the Ireland passport, they are only required to be in Ireland for 24 hours every year to maintain their permanent resident status. If they arrive at the end of the year and leave at the beginning of the next year, that already fulfills the stay requirement of two years. This highly flexible requirement is perfect for those who are yet or are not considering leaving Hong Kong permanently but want to have an option ready.

2. Earn profit and a new identity.

The donation route can be quite expensive, because the €400,000 or €500,000 poured out will not garner any return, resulting in a “purchased” STAMP 4. The Enterprise Investment, on the other hand, is very different. First of all, approval comes before the investment, and Bartra has a track record of 100% approval rating and a 100% renewal rating within the IIP. This means you are sure to receive your Stamp 4 with your investment. Secondly, within 3-5 years, depending on your choice of investment (nursing homes or social housing with Bartra), your total €1 million investment will be returned. Thirdly, investing in nursing home projects can generate around 4% interest per year. At the maturity of your five-year investment period, you will get an additional of €100,000 to €200,000, on top of your €1 million.

In the end, you get the total capital of €1 million returned, along with a “free” STAMP 4 identity and an extra circa of €200,000.

3. It’s as safe as it gets

We’re not claiming how safe it is ourselves, INIS has identified Nursing Home and Social Housing projects as the preferred investment options for the Immigrant Investor Programme (IIP). Both of the projects are supported by the Irish government, meaning the income is stable and guaranteed. The two projects – nursing homes and social housing, are highly demanded by the Irish market.

According to the CBRE report, elderlies of 65 and up will take up around 16% of the Irish population by 2026. In such cases, an estimated amount of at least 7,500 additional nursing home beds needs to be delivered. Hence, nursing home projects are subsidized by the National Treatment Purchase Fund (NTPF) and are a part of the strategic plan for reconstructing Ireland. Social housing is also in strong demand, where 68,693 Irish households are waiting to be housed in mid-2019. Yet, there were only 21,241 houses delivered in the same year.

Secondly, projects like ours, which supports the country’s social infrastructure, are given priority by INIS. In particular, our social housing projects have signed a 25-year Enhanced Lease with the local authority at 95% of an agreed market rent, where index-linked and are debt-funded by different companies. The investment risk, therefore, is extremely low, and the safety of the investor’s funds are ensured.

Not to mention, even during the current pandemic, the social housing industry is one of the first to recover and restart, as the Irish government plans to invest about €5.85 billion in this sector by 2021. According to The Sunday Business Post, the private nursing home trading market is anticipated to reach €100 million at the end of 2020.

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4. 100% approval rate, 100% renewal rate, 100% transparency

Our projects are quite special as we provide 24-7 live Evercam streaming of our construction for all investors, accessible anywhere with the internet. Our investors are also regularly notified of the project’s progress and can get interesting Ireland and project news via our Facebook and LinkedIn.

On top of that, we are a developer company, not an agency. As a developer who has successfully carried out many social housing and nursing home IIP projects, Bartra is the only one-stop-shop offering immigration service and direct access to investment projects. We have extensive Irish immigration experience and expertise in the investment field, and a strong business network of partners. Our Irish Immigrant Investor Programme (IIP) has helped hundreds of families immigrate to Ireland while maintaining an application approval rate of 100% and a 100% renewal rate.

Our IIP has been around since 2016 and is highly successful, sourcing over €310 million of IIP property-related projects, with a track record of over 250 successful IIP applicants. We have helped them live and freely travel to and from Ireland, the UK, and the 27 countries in the European Union after they have obtained their Irish passport from their STAMP 4 VISA. As the only Irish property developer who has a physical presence in Hong Kong, our unique business model supports clients throughout their investment and immigration journey. Simply scroll down to download your step by step IIP guide and assess if Ireland can be your next move.

Tag: immigration