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Reuters
7 days ago
- Business
- Reuters
Belgian retail investors were net sellers of shares amid tariff uncertainty, regulator says
July 22 (Reuters) - Retail investors in Belgium were net sellers of shares in the last three months, a period marked by high uncertainty over U.S. President Donald Trump's tariffs, said the Belgian Financial Services and Markets Authority (FSMA) on Tuesday. WHY IT'S IMPORTANT: The data highlights how uncertainty over Trump's tariffs has caused many retail investors to cash in on their stock market portfolios, in case of a prolonged market downturn. The UBS 2025 Wealth Report, opens new tab ranked Belgium among Europe's top six wealthiest countries, with an average wealth per adult of around $349,000 - only surpassed by Switzerland, Luxembourg, Denmark, the Netherlands and Norway. KEY QUOTE: "Belgian investors were net sellers of shares in the run up to and in the days following the announcement of import tariffs," said the FSMA. Belgian retail investors carried out more than 1.17 million share transactions in the first quarter of 2025, the highest number since the first quarter of 2023, with the total value of sales exceeding that of purchases, said the FSMA. Belgium is introducing capital gains taxes on share sales from January 1 2026, although the first 10,000 euros ($11,700) of gains each year will be exempt. ($1 = 0.8541 euros)
New York Post
18-07-2025
- Business
- New York Post
NYNext Guide to: Where the wealthy are moving now
Money talks — and moves. In 2025, 142,000 millionaires around the world are expected to relocate — the largest voluntary transfer of private capital in modern history — per Henley & Partners, a London-based consultancy that tracks global trends in high-net-worth relocation. 17 Scottsdale, AZ., unseated Austin, TX., as the fastest-growing millionaire hub in the US in 2025, according to a Wealth Report conducted by Henley & Partners, a global leader in citizenship by investment. tim – Advertisement Traditional migration paths for the 1% have seen wealthy individuals fleeing high-tax areas like New York and California — which are losing Americans making over $200,000 at the highest rates of any US states — for buzzy locales such as Miami, Monaco and Portugal. But for the rich, a number of new destinations — both in the US and abroad — are gaining ground. '[They're] not just looking for safe bets in proven markets,' real estate appraiser Jonathan Miller told NYNext. 'They're looking to live where they want to live.' Advertisement Here, five locations where high-net worth individuals are increasingly flocking to. Puerto Rico 17 Act 60, Puerto Rico's marquee tax incentive program, offers significant benefits to qualifying individuals and businesses — including a 4% corporate tax rate and 0% federal capital gains — making it a major draw for high-net-worth relocators. othman – The US territory is luring big money with its Resident Tax Incentive Code, known as Act 60. Signed into law in 2019 and recently extended through 2055, Act 60 offers a 4% corporate tax rate and 0% federal capital gains to those who spend 183 days per year on the island. Advertisement 'Ninety-nine percent of my clients are coming here for the tax advantages,' San Juan luxury real estate specialist Christian Kleiner told NY Next. 17 John Paulson, seen here speaking onstage during Angel Ball 2022, was one of the earliest island adopters. Getty Images for Gabrielle's Angel Foundation According to Kleiner, more than 3,500 participants are currently taking advantage of Act 60. Many are in the finance, crypto and tech worlds, including early island adopters John Paulson, manager of the hedge fund Paulson & Co., and Michael Terpin, a digital asset investor. Advertisement The real estate market has surged accordingly. Home values in Puerto Rico rose 11.6% year-over-year in Q1 2025 — outpacing every US state in annual price growth, according to the Federal Housing Finance Agency. One of Puerto Rico's best-known transplants is Phil Shawe, co-CEO of TransPerfect, the world's largest privately held language services provider. 17 Puerto Rico has proven highly attractive to high net worth individuals, particularly from the East Coast. In addition to a plethora of tax incentives, sources told NYNext that the favorable legal climate and the fact that they can remain under US federal law were among the primary reasons they decided to move. dbvirago – Shawe relocated in 2018 after a bruising legal dispute in Delaware, which he says cost a third of the company's value in legal fees. Puerto Rico's favorable legal climate — it's still under US federal law — and a lifestyle shift prompted his move. Shawe and much of his C-suite now live in Condado, just 15 minutes from TransPerfect's headquarters in Hato Rey, San Juan's financial district. 'The infrastructure reminded me more of Florida than I expected,' Shawe told NY Next. Uruguay Advertisement 17 Uruguay's appeal lies in its rare blend of political stability, personal safety and natural beauty — without the natural disaster risks that plague other regions. ricardokuhl – Felipe Silva, a Punta del Este–based advisor with Engel & Völkers told NYNext that the South American country is drawing wealthy folk — particularly those from California and New York — with its business opportunities and safety. 'They want a place with no war risk, no earthquakes, no tsunamis … there aren't many of those left, especially in the Southern Hemisphere,' Silva said. 'They're looking for a place to escape, but at the same time, to invest.' 17 Uruguay's luxury market is booming, with high-end developments in Punta del Este and Montevideo catering to international buyers seeking beachfront living, modern amenities, and long-term value. Courtesy of Engel & Volkers Advertisement Uruguay's fertile soil, vast freshwater resources and per-hectare prices far below US and European norms make agricultural land a popular bet, too. Uruguay offers a 10-year income tax holiday for foreign buyers who spend at least 60 days per year in the country and invest $500,000 or more in real estate. Or, you can invest $2.3 million and no time in the country is required. 17 Uruguay's fertile soil, abundant freshwater and relatively low per-hectare prices have made farmland an increasingly popular asset class for wealthy buyers looking to diversify. Martin Germino/Wirestock – Buying property, Silva noted, is relatively frictionless — with transactions typically wrapping within 30 to 60 days. Advertisement These various advantages have drawn numerous people in recent years, including musicians Shakira and Ronnie Wood, as well as Cipriani CEO Giuseppe Cipriani. 17 Oceanfront property in Uruguay remains remarkably undervalued compared to global luxury markets — with prime beachfront homes often selling for a fraction of what similar properties would command in Miami or Malibu. Michele – Developers have been eager to meet demand. Trump Tower Punta del Este, a 26-story luxury tower that opened in 2024, has listed apartments for upwards of $8 million. Advertisement Down the beach, Cipriani Ocean Resort is marketing a penthouses for $17 million. 17 Luxury developments are booming in Uruguay, with high-end projects like Trump Tower Punta del Este and Cipriani Ocean Resort (pictured above) drawing international buyers with oceanfront penthouses priced up to $17 million. Cipriani Punta del Este/Facebook Silva noted that the lifestyle is hard to beat. 'You have the city, the coast and the countryside all within 15 minutes,' he said. Florida — but not Miami 17 Wellington, known for its world-class equestrian scene, draws ultra-wealthy buyers seeking privacy, land, and proximity to elite polo and riding events. Robert Stevens, courtesy of Qasanova Luxury The rationale for moving to the Sunshine State hasn't changed — zero state income tax, favorable weather and a business-friendly environment — but buyers are increasingly looking beyond the usual suspects like Miami and Palm Beach. 'We're seeing demand spread out a bit,' Jonathan Miller, CEO of real estate appraisal firm Miller Samuel, told NYNext. 'We're now seeing significant [multi-million dollar] transactions in Manalapan and Wellington.' Manalapan, a town of fewer than 500 residents just south of Palm Beach, made headlines in 2022 when Oracle co-founder Larry Ellison purchased a $173 million estate. The sale triggered a new wave of high-end buyers, including hedge funders — Chris Rokos has a $150 million property — musicians and developers. 17 Larry Ellison, pictured here at the Oracle Open World conference in San Francisco, owns a $173 million compound in Manalapan that set Florida's real estate record in 2022. Getty Images 17 Neighboring Ellison's compound, this $285 million mansion will span 54,570 square feet and include everything from a car museum and shooting range to a private bowling alley, golf simulator, and padel court. Courtesy of Holland PR In July 2025, developer Stewart Satter obtained approval to begin construction on a $285 million spec mansion directly adjacent to Ellison's property. If sold at that price, it will become the most expensive home in U.S. history. Wellington, an equestrian community about 20 miles inland, doesn't have ocean views, but the horsey set cares more about being near the showgrounds. Wellington's 12-week winter show circuit, the longest-running in the world, has turned the town into a seasonal hub for the super-rich, drawing Olympic riders, star polo players like Nacho Figueras and horsewoman-heiress such as Jessica Springsteen (daughter of Bruce) and Georgina Bloomberg (daughter of Michael). 17 Georgina Bloomberg participates in the Suncast 1.50m Championship Jumper Classic at the Wellington Equestrian Center on February 23, 2013, in Wellington. Larry Marano Matt Johnson, a luxury broker with 26 years of experience in the market, said many of his buyers tour stables in the area before looking at houses. He noted that the area has had 23 sales over $5 million in the past 18 months alone. 'The luxury market is the equestrian market,' Johnson told NYNext. Scottsdale, Arizona 17 High-net-worth individuals, primarily those from California and Seattle, are flocking to Scottsdale for its land, lifestyle, low taxes and lack of natural disasters. Matt Gush – In 2025, Scottsdale unseated Austin as the fastest-growing millionaire hub in the US, according to a Wealth Report conducted by Henley. The Phoenix suburb saw a 125% surge in millionaire residents from 2014 to 2024, fueled by remote work trends, a thriving tech sector and a flood of Californians — and some Seattleites — in search of lower taxes and peace of mind. Unlike coastal competitors, Arizona has no earthquakes, no hurricanes, and — compared to Florida — more forgiving winters. It also boasts something high-end buyers increasingly crave: land. '[They want] acreage, uninterrupted views, new builds, guest houses, pickleball courts, pools,' Scottsdale's preeminent luxury broker, Kelly Jones, told NYNext. 17 Arizona's flat 2.5% income tax — one of the lowest in the country — has become a major draw for wealthy individuals seeking financial efficiency and simplicity. BCFC – From a financial and legal perspective, Arizona's appeal begins with a flat 2.5% income tax — adopted in 2023, and still among the lowest in the country — and ends with favorable estate-planning laws. Moreover, friendly business regulations have streamlined everything from corporate formation to trust structuring to legal investments. High‑profile residents in Scottsdale and its surrounding suburbs reportedly include retired Phoenix Suns star Charles Barkley, retired race car driver Danica Patrick, actors Emma Stone and David Spade and GoDaddy founder Bob Parsons, who also owns the Scottsdale National Golf Club. All together, Scottsdale now hosts about 14,800 millionaires, 64 centi‑millionaires and five billionaires, per Henley. 'We continue to surprise ourselves,' Jones said. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). Milan, Italy 17 Milan is Italy's financial capital and one of the most cosmopolitan cities in Europe, offering international schools, luxury shopping and proximity to the Alps and lakes. Kavalenkava – The city is quickly transforming from the wealthiest in Italy to one of the wealthiest in continental Europea, predominantly because of Italy's special tax regime. Introduced in 2017, it's been dubbed the 'CR7 rule' after footballer Cristiano Ronaldo. He was one of the first to take advantage of the policy, which allows non-domiciled residents to pay a flat tax of no more than €200,000 (about $233,000) annually on all foreign-generated income. More recently, the rule has attracted prominent financiers like Elio Leoni-Sceti, founder of venture capital fund The Craftory; Bart Becht, former CEO of Reckitt Benckiser; Richard Gnodde, Goldman Sachs' investment banking vice chair; and Nassef Sawiris, Egyptian investor scion and billionaire. 17 Milan has become Europe's newest wealth magnet thanks to Italy's 'CR7 rule,' a 2017 tax policy — named for footballer Cristiano Ronaldo — that lets non-domiciled residents pay a flat tax of no more than €200,000 annually on all foreign-generated income. Getty Images 'Milan is a financial center with international schools and classy shopping precincts,' Dominic Lawrance — a partner at the London-based law firm Charles Russell Speechlys, which recently opened an office in Milan — told NYNext. 'The city is, by Italian standards, highly cosmopolitan.' Many making the move hail from London — which experienced a 12% decline in millionaire growth from 2014 to 2024 per Henley. Only Moscow saw a greater decline. 'Italy has benefited greatly from ill-judged tax reforms in the UK, which have had the unintended effect of driving away wealthy, mobile individuals,' Lawrance said. The Milanese even have a name for this migration: 'svuota Londra' or 'empty London.' Send NYNext a tip:nynextlydia@
New York Post
18-07-2025
- Business
- New York Post
Where the wealthy are moving now
Money talks — and moves. In 2025, 142,000 millionaires around the world are expected to relocate — the largest voluntary transfer of private capital in modern history — per Henley & Partners, a London-based consultancy that tracks global trends in high-net-worth relocation. 17 Scottsdale, AZ., unseated Austin, TX., as the fastest-growing millionaire hub in the US in 2025, according to a Wealth Report conducted by Henley & Partners, a global leader in citizenship by investment. tim – Advertisement Traditional migration paths for the 1% have seen wealthy individuals fleeing high-tax areas like New York and California — which are losing Americans making over $200,000 at the highest rates of any US states — for buzzy locales such as Miami, Monaco and Portugal. But for the rich, a number of new destinations — both in the US and abroad — are gaining ground. '[They're] not just looking for safe bets in proven markets,' real estate appraiser Jonathan Miller told NYNext. 'They're looking to live where they want to live.' Advertisement Here, five locations where high-net worth individuals are increasingly flocking to. Puerto Rico 17 Act 60, Puerto Rico's marquee tax incentive program, offers significant benefits to qualifying individuals and businesses — including a 4% corporate tax rate and 0% federal capital gains — making it a major draw for high-net-worth relocators. othman – The US territory is luring big money with its Resident Tax Incentive Code, known as Act 60. Signed into law in 2019 and recently extended through 2055, Act 60 offers a 4% corporate tax rate and 0% federal capital gains to those who spend 183 days per year on the island. Advertisement 'Ninety-nine percent of my clients are coming here for the tax advantages,' San Juan luxury real estate specialist Christian Kleiner told NY Next. 17 John Paulson, seen here speaking onstage during Angel Ball 2022, was one of the earliest island adopters. Getty Images for Gabrielle's Angel Foundation According to Kleiner, more than 3,500 participants are currently taking advantage of Act 60. Many are in the finance, crypto and tech worlds, including early island adopters John Paulson, manager of the hedge fund Paulson & Co., and Michael Terpin, a digital asset investor. Advertisement The real estate market has surged accordingly. Home values in Puerto Rico rose 11.6% year-over-year in Q1 2025 — outpacing every US state in annual price growth, according to the Federal Housing Finance Agency. One of Puerto Rico's best-known transplants is Phil Shawe, co-CEO of TransPerfect, the world's largest privately held language services provider. 17 Puerto Rico has proven highly attractive to high net worth individuals, particularly from the East Coast. In addition to a plethora of tax incentives, sources told NYNext that the favorable legal climate and the fact that they can remain under US federal law were among the primary reasons they decided to move. dbvirago – Shawe relocated in 2018 after a bruising legal dispute in Delaware, which he says cost a third of the company's value in legal fees. Puerto Rico's favorable legal climate — it's still under US federal law — and a lifestyle shift prompted his move. Shawe and much of his C-suite now live in Condado, just 15 minutes from TransPerfect's headquarters in Hato Rey, San Juan's financial district. 'The infrastructure reminded me more of Florida than I expected,' Shawe told NY Next. Uruguay Advertisement 17 Uruguay's appeal lies in its rare blend of political stability, personal safety and natural beauty — without the natural disaster risks that plague other regions. ricardokuhl – Felipe Silva, a Punta del Este–based advisor with Engel & Völkers told NYNext that the South American country is drawing wealthy folk — particularly those from California and New York — with its business opportunities and safety. 'They want a place with no war risk, no earthquakes, no tsunamis … there aren't many of those left, especially in the Southern Hemisphere,' Silva said. 'They're looking for a place to escape, but at the same time, to invest.' 17 Uruguay's luxury market is booming, with high-end developments in Punta del Este and Montevideo catering to international buyers seeking beachfront living, modern amenities, and long-term value. Courtesy of Engel & Volkers Advertisement Uruguay's fertile soil, vast freshwater resources and per-hectare prices far below US and European norms make agricultural land a popular bet, too. Uruguay offers a 10-year income tax holiday for foreign buyers who spend at least 60 days per year in the country and invest $500,000 or more in real estate. Or, you can invest $2.3 million and no time in the country is required. 17 Uruguay's fertile soil, abundant freshwater and relatively low per-hectare prices have made farmland an increasingly popular asset class for wealthy buyers looking to diversify. Martin Germino/Wirestock – Buying property, Silva noted, is relatively frictionless — with transactions typically wrapping within 30 to 60 days. Advertisement These various advantages have drawn numerous people in recent years, including musicians Shakira and Ronnie Wood, as well as Cipriani CEO Giuseppe Cipriani. 17 Oceanfront property in Uruguay remains remarkably undervalued compared to global luxury markets — with prime beachfront homes often selling for a fraction of what similar properties would command in Miami or Malibu. Michele – Developers have been eager to meet demand. Trump Tower Punta del Este, a 26-story luxury tower that opened in 2024, has listed apartments for upwards of $8 million. Advertisement Down the beach, Cipriani Ocean Resort is marketing a penthouses for $17 million. 17 Luxury developments are booming in Uruguay, with high-end projects like Trump Tower Punta del Este and Cipriani Ocean Resort (pictured above) drawing international buyers with oceanfront penthouses priced up to $17 million. Cipriani Punta del Este/Facebook Silva noted that the lifestyle is hard to beat. 'You have the city, the coast and the countryside all within 15 minutes,' he said. Florida — but not Miami 17 Wellington, known for its world-class equestrian scene, draws ultra-wealthy buyers seeking privacy, land, and proximity to elite polo and riding events. Robert Stevens, courtesy of Qasanova Luxury The rationale for moving to the Sunshine State hasn't changed — zero state income tax, favorable weather and a business-friendly environment — but buyers are increasingly looking beyond the usual suspects like Miami and Palm Beach. 'We're seeing demand spread out a bit,' Jonathan Miller, CEO of real estate appraisal firm Miller Samuel, told NYNext. 'We're now seeing significant [multi-million dollar] transactions in Manalapan and Wellington.' Manalapan, a town of fewer than 500 residents just south of Palm Beach, made headlines in 2022 when Oracle co-founder Larry Ellison purchased a $173 million estate. The sale triggered a new wave of high-end buyers, including hedge funders — Chris Rokos has a $150 million property — musicians and developers. 17 Larry Ellison, pictured here at the Oracle Open World conference in San Francisco, owns a $173 million compound in Manalapan that set Florida's real estate record in 2022. Getty Images 17 Neighboring Ellison's compound, this $285 million mansion will span 54,570 square feet and include everything from a car museum and shooting range to a private bowling alley, golf simulator, and padel court. Courtesy of Holland PR In July 2025, developer Stewart Satter obtained approval to begin construction on a $285 million spec mansion directly adjacent to Ellison's property. If sold at that price, it will become the most expensive home in U.S. history. Wellington, an equestrian community about 20 miles inland, doesn't have ocean views, but the horsey set cares more about being near the showgrounds. Wellington's 12-week winter show circuit, the longest-running in the world, has turned the town into a seasonal hub for the super-rich, drawing Olympic riders, star polo players like Nacho Figueras and horsewoman-heiress such as Jessica Springsteen (daughter of Bruce) and Georgina Bloomberg (daughter of Michael). 17 Georgina Bloomberg participates in the Suncast 1.50m Championship Jumper Classic at the Wellington Equestrian Center on February 23, 2013, in Wellington. Larry Marano Matt Johnson, a luxury broker with 26 years of experience in the market, said many of his buyers tour stables in the area before looking at houses. He noted that the area has had 23 sales over $5 million in the past 18 months alone. 'The luxury market is the equestrian market,' Johnson told NYNext. Scottsdale, Arizona 17 High-net-worth individuals, primarily those from California and Seattle, are flocking to Scottsdale for its land, lifestyle, low taxes and lack of natural disasters. Matt Gush – In 2025, Scottsdale unseated Austin as the fastest-growing millionaire hub in the US, according to a Wealth Report conducted by Henley. The Phoenix suburb saw a 125% surge in millionaire residents from 2014 to 2024, fueled by remote work trends, a thriving tech sector and a flood of Californians — and some Seattleites — in search of lower taxes and peace of mind. Unlike coastal competitors, Arizona has no earthquakes, no hurricanes, and — compared to Florida — more forgiving winters. It also boasts something high-end buyers increasingly crave: land. '[They want] acreage, uninterrupted views, new builds, guest houses, pickleball courts, pools,' Scottsdale's preeminent luxury broker, Kelly Jones, told NYNext. 17 Arizona's flat 2.5% income tax — one of the lowest in the country — has become a major draw for wealthy individuals seeking financial efficiency and simplicity. BCFC – From a financial and legal perspective, Arizona's appeal begins with a flat 2.5% income tax — adopted in 2023, and still among the lowest in the country — and ends with favorable estate-planning laws. Moreover, friendly business regulations have streamlined everything from corporate formation to trust structuring to legal investments. High‑profile residents in Scottsdale and its surrounding suburbs reportedly include retired Phoenix Suns star Charles Barkley, retired race car driver Danica Patrick, actors Emma Stone and David Spade and GoDaddy founder Bob Parsons, who also owns the Scottsdale National Golf Club. All together, Scottsdale now hosts about 14,800 millionaires, 64 centi‑millionaires and five billionaires, per Henley. 'We continue to surprise ourselves,' Jones said. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). Milan, Italy 17 Milan is Italy's financial capital and one of the most cosmopolitan cities in Europe, offering international schools, luxury shopping and proximity to the Alps and lakes. Kavalenkava – The city is quickly transforming from the wealthiest in Italy to one of the wealthiest in continental Europea, predominantly because of Italy's special tax regime. Introduced in 2017, it's been dubbed the 'CR7 rule' after footballer Cristiano Ronaldo. He was one of the first to take advantage of the policy, which allows non-domiciled residents to pay a flat tax of no more than €200,000 (about $233,000) annually on all foreign-generated income. More recently, the rule has attracted prominent financiers like Elio Leoni-Sceti, founder of venture capital fund The Craftory; Bart Becht, former CEO of Reckitt Benckiser; Richard Gnodde, Goldman Sachs' investment banking vice chair; and Nassef Sawiris, Egyptian investor scion and billionaire. 17 Milan has become Europe's newest wealth magnet thanks to Italy's 'CR7 rule,' a 2017 tax policy — named for footballer Cristiano Ronaldo — that lets non-domiciled residents pay a flat tax of no more than €200,000 annually on all foreign-generated income. Getty Images 'Milan is a financial center with international schools and classy shopping precincts,' Dominic Lawrance — a partner at the London-based law firm Charles Russell Speechlys, which recently opened an office in Milan — told NYNext. 'The city is, by Italian standards, highly cosmopolitan.' Many making the move hail from London — which experienced a 12% decline in millionaire growth from 2014 to 2024 per Henley. Only Moscow saw a greater decline. 'Italy has benefited greatly from ill-judged tax reforms in the UK, which have had the unintended effect of driving away wealthy, mobile individuals,' Lawrance said. The Milanese even have a name for this migration: 'svuota Londra' or 'empty London.' Send NYNext a tip:nynextlydia@
Business Standard
14-07-2025
- Business
- Business Standard
Quantum Advisors launches FamilyOffice offering
PRNewswire Mumbai (Maharashtra) [India], July 14: Quantum Advisors Private Limited, Sponsor of Quantum Mutual Fund and a SEBI registered Portfolio Manager managing and advising FPIs, with a total AuM over Rs 20,200 crore (As on 30th June 2025) has appointed Nitasha Shankar as the CIO of Quantum Advisors' Outsourced CIO Strategy. The differentiated services offered under FamilyOffice, is focused on ensuring wealthy families protect and enhance their wealth. * Appoints Nitasha Shankar as Chief Investment Officer Ajit Dayal, the Founder of Quantum Advisors, said, "As a pioneer of long-term investing we have managed India allocations for some of the world's highly respected investors from Sovereign Wealth Fund to Pensions to Family Offices and Endowments. In fact, Quantum Advisors has a trademark for the label 'FamilyOffice' since 2005. Over the past few months, we have interacted with many wealthy individuals in India who have been impressed with our focus on asset allocation to protect and compound their wealth over market cycles - rather than adopt speculative strategies for the wealth the families have generated from building operating businesses. We are delighted to welcome Nitasha Shankar as the Chief Investment Officer of FamilyOffice - Quantum Advisors' OCIO Strategy." Wealth management in India is witnessing exponential growth as large families have seen their wealth grow in the booming economy as new age entrepreneurs sell equity stakes in their business to operating partners or Private Equity funds. As per a Knight Frank Wealth Report, India ranks 4th globally with 85,698 HNIs, and 3rd globally in terms of number of billionaires. A report by Techsieresearch, estimated Indian families controlled USD 154 billion of assets in 2024. This wealth can be either managed internally by a team set up by the family (hence, the term Family Office) or it can be outsourced to external investment firms, like Quantum Advisors - who act as the 'Outsourced Chief Investment Officer'. I V Subramaniam, Managing Director of Quantum Advisors, said, "Quantum's OCIO strategy is designed as a tailor-made approach, with client portfolios comprising a diversified mix of equities, debt, and commodities via a basket of selected mutual fund or direct investments. Nitasha, with over a decade of experience in managing and advising clients, will spearhead our OCIO solutions under the FamilyOffice services to meet the evolving needs of our clients." Expressing her enthusiasm, Nitasha Shankar, Chief Investment Officer for Quantum's OCIO Strategy, said, "Quantum Advisors has earned a distinct reputation in the industry for its values-driven approach, built on simplicity, transparency, and investor centricity. Subbu and Ajit have established Quantum Advisors as one of the trusted names in the investment industry and I had the opportunity to work with them many years ago. I am excited to return to the Quantum family and be part of a team that embodies these principles and is committed to delivering meaningful outcomes for clients." Nitasha holds a Post Graduate Diploma in Business Management (PGDBM) from Birla Institute of Management Technology. Prior to joining Quantum, she served as President - Fund Management & Head of Equity Strategy at YES Securities India Ltd, where she was responsible for constructing investment portfolios for individual investors, family offices, and institutional clients. For further information, please email FamilyOffice@ OR visit About Quantum Advisors: Quantum Advisors is registered as Portfolio Manager with Securities and Exchange Board of India (SEBI) vide registration number INP000000187. It is also registered with the U.S. Securities and Exchange Commission as an Investment Adviser and as a Restricted Portfolio Manager in the Canadian Provinces of British Columbia (BCSC), Ontario (OSC), and Quebec (AMF). (Note - Registration with the above regulators does not imply any level of skill or training). Disclaimer: For detailed description of Quantum OCIO Strategy such as investment objective, asset allocation pattern, investment strategy and philosophy, associated risk factors and other details, please refer to the Disclosure Document available at The views expressed in this article are for general information purpose only and are neither meant to serve as a professional guide / investment advice nor are intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Prospective investors are advised to consult their own investment consultant and read the Disclosure Document carefully before taking any investment decision. Information sourced from third parties cannot be guaranteed and was not independently verified. All of the forward-looking statements made in this communication are inherently uncertain and we cannot assure the reader that the results or developments anticipated will be realized or even if realized, will have the expected consequences to or effects on, us or our business prospects, financial condition or results of operations.
Time Business News
26-04-2025
- Business
- Time Business News
Citizenship-by-New-Identity Program for 2025: Offering Freedom, Security, and Opportunity
As Global Demand for Second Passports Surges, Amicus Innovates with Affordable, Ancestry-Based Citizenship Programs VANCOUVER, British Columbia – In a world grappling with geopolitical uncertainty, rising nationalism, and increased mobility restrictions, Amicus International Consulting has responded with a groundbreaking program: Citizenship with a New Identity. This initiative offers individuals worldwide the opportunity to obtain a second passport legally, without multimillion-dollar investments, by leveraging their ancestry or cultural heritage. As one of the pioneers of second citizenship services in North America, Amicus International Consulting has expanded its offerings to nearly 98 countries, making it possible for clients not just to obtain a second passport, but to rebuild a complete legal identity and future. 'A second citizenship today is not a luxury—it's a necessity,' said Alexander Jean-Baptiste, CEO of Amicus International. 'Our clients seek mobility, protection, and freedom in a volatile world. We provide the legal path to achieve it.' The Rising Demand for New Identities and Second Citizenship The COVID-19 pandemic accelerated global demand for second passports, revealing vulnerabilities in mobility and safety once taken for granted. Coupled with Brexit, shifting immigration policies, and the 'America First' agenda, many high-net-worth individuals (HNWIS) and professionals began seeking 'Plan B' citizenship. According to Knight Frank's 2025 Wealth Report, 24% of very high-net-worth individuals (VHNWIS)—those with assets exceeding $30 million—are actively pursuing a second passport. Case Study: Pandemic Realizations Spark New Identity Demand In 2020, Silicon Valley entrepreneur Jason Fields found himself stranded during lockdowns with limited travel options. Partnering with Amicus, he traced his Polish ancestry and secured EU citizenship by 2023, allowing unrestricted travel across the Schengen Zone—shielding his business operations from future disruptions. Advantages of a Second Passport and New Identity Visa-Free Travel : Access to up to 150 countries, including the EU and Commonwealth nations. : Access to up to 150 countries, including the EU and Commonwealth nations. Financial Flexibility : Offshore banking, tax advantages, and diversified asset management. : Offshore banking, tax advantages, and diversified asset management. Safety and Political Stability : An exit strategy from political unrest, civil strife, or targeted prosecution. : An exit strategy from political unrest, civil strife, or targeted prosecution. Quality of Life : Enhanced access to education, healthcare, and global job markets. : Enhanced access to education, healthcare, and global job markets. Ancestral Connection: Emotional and cultural ties to one's heritage countries. Amicus' Citizenship Program with New Identity: Unique Features Eligibility Based on Ancestry : No need for million-dollar investments—proof of heritage can unlock citizenship. : No need for million-dollar investments—proof of heritage can unlock citizenship. Access to 98 Countries : Options include Portugal, Italy, Ireland, Lithuania, Czech Republic, Argentina, and more. : Options include Portugal, Italy, Ireland, Lithuania, Czech Republic, Argentina, and more. Streamlined Application Management : Full-service document retrieval, authentication, and filing. : Full-service document retrieval, authentication, and filing. Lower Cost Structure: Starting fees as low as $3,000 for document services; full program costs starting at $199,800 for Italian citizenship. Expanded Case Studies: Real Clients, Real Transformations Case Study: Italian Citizenship via Ancestry Sarah Donnelly, a New York-based attorney, uncovered her Italian lineage through her great-grandfather. Working with Amicus, she obtained Italian citizenship within 18 months, opening the door to EU residency rights, career opportunities, and favorable tax structures. 'For me, it wasn't just a passport—it was reclaiming my family's history while securing a better future,' Sarah said. Case Study: Czech Nationality for Tech Entrepreneur Michael Chen, a San Francisco tech entrepreneur, engaged Amicus after discovering his grandfather was born in Prague. By securing Czech nationality (investment starting at $250,000), Michael now operates a European fintech company headquartered in Prague with full access to the EU business ecosystem. Case Study: Portugal's Sephardic Citizenship Route Leveraging Portugal's reparation program for descendants of Jews expelled during the Inquisition, Amicus helped client Daniel Abramson verify his lineage through Jewish community records. He obtained Portuguese citizenship, gaining visa-free travel to 188 countries and dual EU citizenship rights. Challenges in the New Identity Process: What Clients Should Know While Amicus streamlines the process, challenges remain: Document Authenticity : Many applicants must track down old birth, baptismal, or marriage records, sometimes from regions that have changed borders (e.g., Ukraine, Belarus). : Many applicants must track down old birth, baptismal, or marriage records, sometimes from regions that have changed borders (e.g., Ukraine, Belarus). Bureaucratic Hurdles : Approval timelines vary. For instance, Italian citizenship may take 24–36 months , while Irish ancestry claims may finalize in 12–18 months . : Approval timelines vary. For instance, Italian citizenship may take , while Irish ancestry claims may finalize in . Cultural Verification: For programs like Portugal's Sephardic citizenship, community endorsements and scholarly verifications are required. Case Study: Overcoming Bureaucratic Barriers One Amicus client pursuing Czech nationality was initially denied when it was discovered his ancestral birthplace had shifted into modern Ukraine. After appeal, re-documentation, and support from local genealogists, his citizenship was eventually approved. Digital Nomadism and the Future of Global Citizenship The rise of digital nomad visas and remote work hubs globally makes a second passport even more valuable. Countries like Portugal, Croatia, and Thailand now offer remote work residency programs tied to second citizenship eligibility. 'A second passport is your key to joining the global economy as a free agent,' said Linda Martinez, Legal Director at Amicus. Ethical Considerations in Citizenship by Investment and Ancestry While critics argue that citizenship programs commodify nationality, Amicus emphasizes respect for legal processes and authentic ancestral ties. Their strict vetting ensures that applicants not only qualify by law but also engage meaningfully with their new nation. 'Citizenship should be earned, respected, and honored,' said Jean-Baptiste. 'We help our clients become contributing citizens—not just paper holders.' About Amicus International Consulting Founded in Vancouver, Amicus International Consulting has over 20 years of experience helping clients navigate second citizenship, new legal identities, offshore asset protection, and international relocation. Their expertise spans law, genealogy, finance, and global mobility planning. 📞 Contact Information Phone: +1 (604) 200-5402 Email: info@ Website: Follow Us: 🔗 LinkedIn 🔗 Twitter/X 🔗 Facebook 🔗 Instagram TIME BUSINESS NEWS
