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The Weekly Nugget – The Weekly Nugget Finance Basics: Where Does the Money Reside? #FinanceMonth

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December 13, 2021

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Established in 2014, the Greece Golden Visa program which is Greece’s residence by investment program is acknowledged as one of the more affordable residences by investment programs in Europe.  The Greece Golden Visa program offers the optimal solution for non-EU nationals seeking the freedom to live, undertake business, and study in Greece, or to travel across the Schengen Area. Greece is considered the cradle of Western civilization, being the birthplace of democracy, Western philosophy, Western literature, historiography, political science, major scientific and mathematical principles, theatre and the Olympic Games.  As an EU member state, Greece offers its residents and citizens a myriad of spectacular benefits which include but are not limited to high levels of safety and security, world class education opportunities, state of the art healthcare options, and a consistent application of the rule of law. Greece’s warm Mediterranean climate, desirable lifestyle, and cosmopolitan cities, coupled with the country’s strong industries, have led many wealthy individuals and families to make this country their second home. The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two months of applying
With popular world-class resorts such as Protaras and Ayia Napa, a long and storied historical tradition, and access to world-class facilities for specialized sports such as Golf and Climbing, Cyprus is considered an ideal destination for permanent residence for non-EU nationals. Cyprus has the lowest crime levels in the EU, a relatively low cost of living, and no inheritance tax. It has high-quality health care and offers access to leading medical centers. The Cypriot government has the drive to increase foreign investment and boost economic development and as such has simplified Regulation 6(2) of the Aliens and Immigration Regulations in order to achieve this. As such residence permits may now be issued to applicants from non-European countries who wish to invest in Cyprus.
Vanuatu is an independent Commonwealth State, having gained independence from the UK and France in 1980. The country is located in the South Pacific and comprises of 83 islands, of which, 68 are populated and spread over 1,300 kilometers. Its proximity to Australia and New Zealand ensures close ties to the countries. Vanuatu’s natural beauty, abundance of fresh water, fish, tropical forests and breathtaking scenery as well as its small airports, marinas, yacht clubs and hotels all combine to make it an outstanding and growing tourist destination. The four pillars of the Vanuatu economy are agriculture, tourism, offshore financial services and the cattle industry. The three main languages are English, French and Bislama. The local indigenous population are referred to as Ni-Vanuatu and mainly work in the agricultural sector. Since 2012 the Government of Vanuatu has introduced a number of various Citizenship-by-Investment programmes. The most recent being in 2017 and referred to as the Development Support Programme (DSP) which was spearheaded by the Prime Minister. The DSP includes designated agents of Ni-Vanuatu descent of which RIF Trust is proudly associated.
St Lucia is an independent Commonwealth State, having gained independence from the UK on 22 February 1979, a day celebrated each year with a public holiday. The country is located in the Eastern Caribbean and has a beautiful mountain terrain, including Mount Gimie and the Pitons, which are the island's most famous landmarks. St Lucia is a United Nations, OECS, and CARICOM member. The regional currency is the East Caribbean Dollar (XCD), which is pegged to the US Dollar. An educated workforce and improvements in roads, communications, water supply, sewerage and port facilities have attracted significant foreign investment in the tourism and offshore banking industries. Tourism remains the country’s main source of jobs and income and accounts for 65% of the GDP.
The beautiful, verdant two-island state of St Kitts and Nevis is located in the eastern Caribbean, to the west of Antigua and the south of Anguilla. Formerly a British colony, St Kitts and Nevis gained its independence in 1983 but has chosen to maintain link with its colonial past by keeping Queen Elizabeth II as head of state. The islands cover 261 sq. km, and the population of just over 54,000 enjoys a high standard of living in a federal parliamentary democracy. Tourism is the nation's economic mainstay, attracting more than 600,000 visitors every year and contributing the majority of the USD 1.5 billion annual income. St Kitts & Nevis is a signatory to the Double Taxation Relief (CARICOM) Treaty 1994 and has implemented measures to ensure compliance with the US FATCA regime. The government offers an accelerated application process which reduces the processing period to 60 days or less, making St Kitts the fastest programme in the Caribbean.
Grenada is a beautiful country of lush, tropical forests, stunning waterfalls and gorgeous sandy beaches. While it has much to offer residents, the Grenadian Citizenship-by-Investment Programme doesn't require you to live in or visit the country to apply. The Citizenship Programme requires a USD 150,000 donation or a USD 220,000 property purchase. Applications are processed in under six months. Siblings of the main applicant or of his/her spouse, who are not married and do not have children, may be included as a dependent of the main applicant. Children up to the age of 30 may be included in the application without the need to be enrolled in full time education. Parents over 55 may also be covered in the application and they are not required to be financially dependent on the main applicant. Grenada is a member of Caricom and the Organisation of Eastern Caribbean States, as well as being a member of the Commonwealth. Citizens of Grenada don’t pay foreign income, wealth or inheritance taxes on their worldwide wealth, and also enjoy visa free travel to 142 countries including China – the only Caribbean country with such access. Grenada is also a treaty country with the US that allows citizens to be eligible to apply for the non-immigrant E2 visa. This is on the basis they will be investing a substantial amount of capital in a U.S. business.
The Commonwealth of Dominica, formerly a British colony, is an island state of 750 sq. km in the Windward Islands. Dominica is an island of remarkably unspoiled beauty, where lush, green forests roll across hills that stretch from shore to shore. English is the nation's official language, but French is also spoken widely. Dominica has been offering a Citizenship-by-Investment Progamme since 1993, enabling HNWIs and their families to enjoy all the benefits of being Dominican, in exchange for a contribution to the government. Dominica boasts pristine beaches, acres of unspoiled tropical rainforests and offers some of the best diving and hiking in the Caribbean. From the UNESCO World Heritage Site of Morne Trois Pitons National Park, to the development of a geothermal plant, Dominica’s philosophy is to protect and preserve its untainted and unparalleled beauty.
Lying in the Eastern Caribbean's Leeward Islands, the English-speaking, two-island state of Antigua and Barbuda is a favoured tourist destination affectionately referred to as the 'Land of 365 Beaches'. Antigua and Barbuda enjoy a pleasant year-round climate, with average air temperatures ranging between 25ºC to 28ºC (77ºF to 82ºF) and sea temperatures reaching 29ºC (84ºF). These lush tropical islands are stunningly beautiful locales, and tourism is the dominant source of income-generating about 60% of the islands' GDP. Having gained independence from Britain in 1981, Antigua and Barbuda has developed a reputation for judicial and governmental stability. Today, passport holders enjoy visa-free travel to approximately 152 countries, including the countries of the European Schengen Area, the UK, South Africa, Hong Kong, and Singapore, as well as enjoying the privileges associated with citizenship of a Caricom country.
Victor is a goal-driven lawyer who possesses an analytical mind, great legal research skills, and a keen eye for detail.  He enjoys providing simple solutions to complex legal problems. He is highly dedicated to providing the most optimal solution to any client challenge. Victor volunteers with the Nigerian Economic Summit Group working with the sub-group on Tourism, Hospitality, Entertainment, Creative Arts, and Sports Industries Commission tasked with creating policies for the aforementioned sectors to drive economic growth. His practice focuses on immigration, corporate, and commercial law.
Education
  • University of Sunderland (MBA)
  • De Montfort University (LLB)
  • The Nigerian Law School (BL)
Practice Areas
  • Immigration
  • Corporate and Commercial
Professional Associations and Memberships
  • Nigeria Bar Association
Contact Info
v.lawson@eversagelegal.com