“With over 8000 professionals attending, the 16th annual NYC Real Estate Expo was a resounding success! Thank you to all our exhibitors, speakers, panelists, media partners and podcasts for being such an integral part of the event. We truly value everyone’s participation and hope the expo met and even surpassed all expectations. We are also very pleased with the success of our event partners, including: REC4Success – and our RCBI – Residency and Citizenship by Investment Pavilion services for our International audience.”
– Anthony Kazazis, Director, One National Real Estate LLC
When one thinks of real estate, what comes to mind? Houses, financing, maybe even Netflix’s Owning Manhattan. Certainly not global migration. As the NYC Real Estate Expo entered its 16th year, there was a marked difference from real estate expos of former years—a Residency and Citizenship by Investment (RCBI) Pavilion joined the usual array of booths ranging from real estate developments to service providers. Notably, EB-5, a US “Residency by Investment” program, has been part of the NYC Real Estate scene since 2013. What was different this year, was the presence of so many booths offering outbound migration programs.
A Bollywood Actor and Distinguished Author Speak At Panels
Distinguished academic Dr. Kristin Surak, author of “The Golden Passport,” offered her analysis and findings regarding global citizenship, stemming from both personal experience and academic research. Dr. Surak also took the time to speak with individual attendees one-on-one, even offering signed copies of her book with personal inscriptions.
Bollywood actor, Vivek Oberoi, selling luxury real estate in Dubai also presented the UAE Golden Visa. Vivek Oberoi shared his success story, while debunking some of the myths surrounding life in Dubai.
“It’s clear that interest in RCBI programs is growing in the U.S., as Americans are ready for change. More and more, the change they seek is abroad. Residency and citizenship are gateways to their goals—not the goals themselves.
We all know that investing in real estate is very popular in the U.S., but now Americans are realizing they can obtain a passport and/or residency as part of their investment. COVID-19 accelerated this trend, as those with wealth sought greater freedom of movement, and the upcoming presidential election is driving a fresh wave of interest.
Securing second or third passports remains a notable trend among millionaires.”
— Tatiana Muntean, Associate Vice President at Arton Capital
“The NYC Real Estate Expo was a valuable experience; being able to meet new people from inside and outside our industry and hear their perspective, that kind of conversation is always worth the travel, especially to a place like New York. Also, it is quite apparent that there is a lot of interest in RCBI programs in the US, a lot more education is required.”
– Sam Bayat, Founder of Bayat Legal Services, Dubai
The RCBI Pavilion was enriched with the knowledge, expertise and personal experiences of those who attended, bringing forth not only a diverse assortment of industry veterans but also a unique opportunity to highlight the intersection between the world of real estate and golden visa programs. This year, professionals in investment migration were provided a forum to discuss valuable industry insights. In addition to speakers presenting advantages to programs around the world, there were also panels exploring broader topics such as the concept of a “global citizen.” Attendees were also offered the opportunity to explore displays and speak with exhibitors regarding both top destinations and lesser-known programs.
The US Are Flocking to Portugal:
The presentations by professionals of all different fields revealed some surprising trends across the board. Multiple sources addressed the continued popularity of the revamped RBI program in Portugal. It has recently undergone an overhaul, primarily due to concern of locals being priced out of real estate by foreign investors. Despite the changes to the program, including no longer being able to invest in a home for oneself, Portugal’s golden visa remains in high demand. Across the board, the program still draws the interest of investors around the globe due to the country’s quality healthcare, education, and high standard of living, combined with relatively low economic barriers to investment and affordable living expenses.
For the ultra-wealthy, investing through these programs is simply asset building. For others, an insurance plan for the unexpected, ranging from an economic downturn, a change in political climate, to even war or disease. The U.S. and U.K, for many of these reasons, have started to top the list of applicants.
“I traveled from Dallas to attend this Expo and was bowled over by the educational and inspirational aspect. I did not realize that such a big market existed within the US for RBI programs.”
– Chak Kakani, Partner at Growth Axel, Dallas Texas
The RCBI Pavilion of The 2024 NYC Real Estate Expo Provided a Much-Needed Introduction to Foreign Investments, Including the Caribbean:
The Pavilion highlighted the growing trend of US ex-pats investing overseas, especially related to establishing permanency in lesser-known areas of the globe, as well as its economic effect throughout.
Speakers touched on recent heightened scrutiny and legal challenges. As in all industries, various programs have experienced repercussions from highly publicized cases of fraud or failed projects. Yet, industry experts come away from such experiences and see government agencies increasingly responding to such issues with additional regulatory compliance. In turn, these developments have boosted legitimacy from the perspective of agencies and investors alike. As legitimacy increases, the value of these programs becomes clearer, especially financially. In some countries in the Caribbean, Golden Visa investments make up a significant and impactful portion of their economy.
Attendees of the Real Estate Expo, many of whom may not have been previously aware of these programs, were treated to a surprising showcase of connections between our worlds. Islands previously regarded as just “vacation spots,” are now also avenues for business expansion or even a second home. Beyond vacation spots, these Caribbean countries demonstrate ever-growing appeal through their valuable business and foreign investment opportunities.
It is clear that these once often thought of as short-term programs will continue to exist based upon increasing societal and global mobility demands, as well as undeniable economic benefits such programs provide to their geographic area. Spreading this information to the greater real estate industry is critical to the longevity and growth of RCBI programs.
