Immigration Central | Costly Portugal, New Zealand's new visa, Canada and Hong Kong to attract talent, and more

Representational image. (Photo: Metin Ozer via Unsplash)

Portugal

With an exponential rise in the median house price in Portugal, applicants who plan to acquire residency in Portugal through the Golden Visa Scheme will have to spend more on property in the country. The Lisbon Metropolitan Area, the Porto Metropolitan Area and the Autonomous Region of Madeira registered a surge in median prices compared to the previous year’s figures.

Foreigners are eligible to acquire residency in Portugal through the Golden Visa Program, by making a financial contribution and meeting specific conditions. However, recently, the country’s authorities have imposed stricter rules for the Golden Visa programme.

Residence permits for investment will no longer be possible based on real-estate investments in Lisbon, Porto, the Algarve, and on the coast. Once acquired, properties intended for housing only allow access to this regime if they are located in the Autonomous Region of the Azores and of Madeira or in territories in the interior of the country, according to the latest report by Organization for Economic Co-operation and Development (OECD).

New Zealand

Highly-skilled and experienced individuals as we all as high-net worth investors are now eligible to apply for New Zealand’s Active Investor Plus visa, which has been designed to build successful New Zealand businesses.

The new visa that officially opened on September 19 replaces the previous investor visa categories, which often resulted in investment into passive asset classes such as bonds rather than investing directly into New Zealand companies. The new visa will encourage active investment in New Zealand, which also contributes to more high-skilled jobs and economic growth compared to passive investment.

Applicants who make investments, among other requirements, will be eligible to hold the new visa with a NZ $5 million (US$3.1 million) minimum investment and receive the highest rating, which is a lower minimum amount compared to those who choose more indirect investments. The minimum amount required for indirect investments will be $15 million.

Investors will need to spend at least 117 days, or about a month a year, in New Zealand for the four-year investment period. This is a marked increase from 88 days in the previous category.

Canada

To address a critical labour shortage, Canada has set a target of welcoming 500,000 immigrants each year by 2025. The country plans to admit more permanent residents with needed work skills and experience, alongside more-modest targets for family members and refugees. Under the new plan, there will be 465,000 new arrivals in 2023, rising to 500,000 in 2025. By comparison, 405,000 permanent residents were admitted last year, according to the country’s immigration department.

Australia

Australia has reduced health examination requirement for  applicants under specific Temporary Work Visas (including those issued for an extended stay), Temporary Skill Shortage Visas, and Student Visitor Visas. These new measures will remain in place until the start of 2023.

The Australian government has separated the work migration program into five categories; the most popular being Global Talent Visa — subclass 858, Employer Nomination Scheme Visa — subclass 186, Permanent Skilled Regional Visa– subclass 191, Regional Sponsored Migration Visa — subclass 187, and Skilled Employer Sponsored Regional Visa — subclass 494, among others.

The United Kingdom:

The United Kingdom has lifted the police registration requirement for internationals travelling to the country for long-term purposes. Thus, internationals who plan to enter the UK for long-term purposes do not have to report to the local police in order to register their residential address. However, it has been confirmed such individuals reaching Britain will still be obliged to register their address as part of the biometric stage of applying for a residence permit.

The United States

The validity of Permanent Resident Cards, known as Green Cards, has been extended to 24 months for lawful permanent residents who file Form I-90, application to replace Permanent Residence Card. Earlier, Form I-90 receipt notices provided a total of 12 months extension of the validity of a Green Card.

“If you no longer have your Green Card and you need evidence of your lawful permanent resident status while waiting to receive your replacement Green Card, you may request an appointment at a USCIS Field Office by contacting the USCIS Contact Center, and we may issue you an Alien Documentation, Identification, and Telecommunications (ADIT) stamp after you file Form I-90,” according to a recent statement by United States Citizenship and Immigration Service (USCIS).

Indonesia

Indonesia has introduced a new visa aimed at attracting wealthy foreigners and boosting the country’s economy. The new “second home” visa is available for a period of five or ten years to those who hold at least 2 billion rupiahs or $130,000 in their bank accounts. The scheme is exclusively for Bali, the Indonesian capital, and will come into effect on December 25 this year.

Hong Kong 

The country has introduced a new plan to attract global talent. The new measures to attract international talents include introducing a new office for Attracting Strategic Enterprises (OASES). A new Top Talent Pass Scheme will be introduced for internationals earning more than HK$ 2.5 million per year and who have graduated from a top university in the last three years. The country hopes to enhance requirements following the Technology Talent Admissions Scheme by abolishing local employment quota requirements. It will reduce requirements for some visitors to file an application for an employment visa when participating in short-term business activities in Hong Kong.

Malaysia

The country has announced that it will launch the digital nomad visa, becoming the latest country to take such a step. Through the Digital Nomad Visa, citizens from other countries are eligible to live in Malaysia for a specific period while working remotely for businesses or clients outside the country. All persons with an annual income of more than $24,000 are eligible to apply for the visa and stay in this country with their dependents for a period of more than 13 months, with the possibility to extend it for another year.