Global Migration & Wealth Mobility MENA is the leading immigration conference in the Middle East. The sixth edition of this Middle East wealth management forum will address the full range of wealth management and mobility news as well as citizenship and residence planning trends among HNWIs in MENA (Middle East and North Africa) market. It will gather immigration agents, lawyers, governments as well as private wealth intermediaries such as private banks, wealth managers, immigration lawyers, family offices, trust professionals, tax consultants, government representatives and more.
Who is attending?
Demand for second citizenship programmes
The demand for second citizenship programmes in the UAE is mostly coming from Indians, Pakistanis, Syrians and other Arab citizens. Due to the country’s strong credibility, UAE is easier and quicker to obtain from the Emirates. Thus, it is treated as a stepping-stone by these expats for applying a second passport.
Syrians lead the number of applications, followed by Lebanese, Iraqis and Palestinians among Arab expats; Indians and Pakistanis make up a large chunk of applications among Asian expats.
The popular programmes include Caribbean and European, especially Vanuatu & Portugal.
- The major motivations of applicants:
A second citizenship gives them visa-free access to major regions and countries in the world such as Schengen states. It acts like a life insurance policy considering unstable political situations and economies in their home countries.
The need of privacy – the Common Reporting Standard (CRS) approved by OECD for cross border sharing of financial information on individuals does not apply to apply. Most of the programmes are possible through investment on real estate and the fact that investors are also gaining residency and potentially shifting their residence for tax purposes could be treated as a benefit.
Global asset and wealth diversification
As the UAE and GCC is predominantly a family and personal wealth market, wealth transition and succession planning are the most important topics that the wealth management industry is focused on in this part of the world. The Dubai immigration summit provides the topics reflecting the market.
Contributing factors such as the prevalent geopolitical climate and fears of instability, succession planning, privacy and confidentiality, diversification of jurisdictions and assets are all driving HNWIs towards global asset and wealth diversification, wealth structuring, as well as an increasing use of premium offshore jurisdictions.
HNWIs in the Gulf region are ill-prepared and inadequately structured for the transition of wealth through generations. Experts from Dubai immigration summit will deliver the solutions to the market.
Middle Eastern clients are very discreet about their wealth and operations, clients like their personal and financial privacy and have no plans to change this behaviour in the near future. Wealth mobility experts will share their suggestions on Dubai immigration conference.
With a heightened sense of awareness of tax compliance, there is a shift away from jurisdictions that are under scrutiny (e.g. Caribbean) due to privacy and the fear of unwanted disclosure of assets.
With increasing global regulatory compliance, more HNWIs prefer to professionalise the way family wealth is managed. HNWI clients need to understand how to react to local and global regulations and preserve their wealth for future generations. MENA investment immigration summit is an event suit for their needs.