Moore: Filipinos, top clients in investment migration mart

The Philippines is one of the most developed markets for this industry in Southeast Asia, and the country has been a popular destination for high-net-worth families since the martial law era when they wanted to have safe passage out.

The increasing trend of globalization has led to a growing interest in residency and citizenship in several particular choice counties overseas among Filipino entrepreneurs and investors who are constantly moving across different countries, Henley and Partners said earlier this week.

During the Daily Tribune’s Usapang Business talk show, Henley and Partners managing director for Indonesia, Singapore and the Philippines Scott Moore said that the trend has become very popular among several clients in the past decade and even more so since the pandemic hit and during times of uncertainty. Moore’s firm is the global leader in the citrizenship planning industry, and currently, is one of the world’s largest investment migration consultancies.

“Nowadays,” said Moore, “many Filipinos are looking to obtain residency or citizenship in, say, Portugal, which is one of Henley’s more popular programs in that is relatively affordable compared to others (programs).”

“The Philippines is one of the most developed markets for this industry in Southeast Asia, and the country has been a popular destination for high-net-worth families since the martial law era when they wanted to have safe passage out,” he added.

Residence-by-investment program

Moore said that Portugal has a residence-by-investment program that allows one to obtain a European passport through naturalization in just five years.

Moore said the investment starts at P280,000 (approximately P16.4 million) and is recoverable.

“Usually when we think about naturalization, say, in Portugal, you need to move to the country and you need to live there for a certain number of days full time, that is, you need to spend effectively seven days per year for five years,” Moore said.

“So say, you’ve set your sights on the Portugal program, you can shift your family vacations to Portugal and you can stay in the Philippines and run your business (if you have one) with your family,” Moore added.

After passing a basic language exam, Moore said Filipinos could apply for citizenship and then the family would be able to obtain a passport to an ideal European country like Portugal.

He said that a European passport is a “very strong passport” to have because having a European passport gives the holder very good mobility and visa-free access to other countries such as the United States, Australia, New Zealand, Canada, and Japan, other then the European Union.

Residency and citizenship programs

Moore noted that there is a difference between residency and citizenship, and Henley and Partners offer both types of programs.

“Residency programs generally have conditions attached to them, such as living in the country for a certain number of days each year, and they are not as strong as citizenship programs,” Moore said.

However, residency programs do offer certain benefits, such as the ability to travel visa-free in certain countries and to have better access to education and other opportunities in your country of choice,” he added.

Citizenship by investment programs are offered by Commonwealth Caribbean countries, Eastern European countries, and a Fast Track program in the European Union.

The Caribbean options, such as Antigua and Barbuda, St. Kitts and Nevis, Dominica, Grenada, and St. Lucia, offer very strong passports with visa-free access to the United Kingdom and countries included in the Schengen visa.. For a single applicant, the contribution starts at $100,000, making it very affordable.

Henley and Partners, a global leader in investment migration focused on residence and citizenship by investment for high-net-worth individuals, has been in existence for over 25 years and has over 300 staff across 40 offices worldwide.

The firm provides services to clients who want to obtain a second citizenship status in countries without having to give up citizenship in their home country.