Samuel Harvey, Director of Business Development at Harvey Law Group, discusses Golden Passport options to EU countries and a new investment opportunity.
WHY SHOULD TRAVELERS CONSIDER A SECOND PASSPORT AS THEIR “PLAN B”?
A second passport is a great mobility perk. But it’s important to note the differences between a passport from an EU country and a passport from a Caribbean country.
A passport from any of the Caribbean countries grants rights to relocate within another CARICOM country. Although it also grants travel access within the EU, you cannot relocate there. Most applicants look at a Caribbean passport from mobility and tax perspectives.
On the other hand, an EU passport will grant rights to relocate within any other EU country, along with travel to a wider range of destinations. So most applicants considering an EU passport may opt to relocate their family to ensure the future of their legacy.
WHAT SHOULD APPLICANTS CONSIDER WHEN CHOOSING A LAW FIRM?
Professionalism: An international lawyer goes through a training process and understands the economics behind having a second passport. This includes visa-free agreements, tax implications, education and social benefits of the domiciled, and legacy planning in accordance with inheritance rules.
Liability: While not all fly-by agents or consultants are scammers, their professional liability can be limited and applicants might not be properly covered in case of a fallout in the application process.
Interest: A law firm should act in the interest of their clients, not their own. As much as I would prefer recommending Cyprus to all my clients, I must take into consideration their needs; this includes budget, family members, traveling habits, and tax exposure.
ABOUT HARVEY LAW GROUP
Harvey Law Group (HLG) was founded by Jean-Francois Harvey in 1992. Headquartered in Hong Kong, the firm now has over 20 offices worldwide. It has a proven expertise on residency, permanent residency, and citizenship by investment. Considered a pioneer in the industry, it has advised countless individuals, families and foreign governments on their immigration laws and regulations.
The Harvey Law Group team ensures professional legal representation, thus providing extra security for clients. The team also offers corporate services and cross-border transactions to entrepreneurs and corporations looking to expand overseas.