Offshore
SEMINAR PREVIEW: Brexit, EU Reform - What It Could Mean For Investment Migration Industry

How might a UK departure from the European Union affect the investment migration sector and the market for what are sometimes dubbed "golden visas?" A seminar, held in London on 7 April, aims to explain what is at stake.
A possible British exit from the European Union will affect not
just the UK and its Continental cousins but also a far wider
community of people including those involved in what is sometimes
called the market for “golden
visas”.
If UK voters decide on 23 June this year to pull down the curtain
on EU membership, it could seriously affect the UK’s
own programmes for encouraging wealthy individuals to enter
the country via its Tier 1 investor and entrepreneur visa
programmes. It could mean that for people using the UK as a
stepping stone for access across the whole EU bloc, such an
option would be closed.
International companies, such as those from the US, purportedly
use the UK to some extent as an entrepôt to the Continent, and
the same argument has been put, to an extent, in explaining the
reasoning of internationally mobile and wealthy families in
wanting to get UK visas.
A “Brexit” could also affect those Britons now living in others
parts of the EU, as has been the case for years with people
spending time in countries such as France, Italy, and Spain, both
for work and play.
All these issues and more are to be discussed on Thursday 7
April in London at a seminar hosted by the Investment
Migration Council and international law firm Fragomen
Worldwide. The seminar, held at The Mermaid, Puddle Dock in
the Blackfriars area of London, goes under the title
of Brexit and EU reform: what would this mean for
the Investment Migration Industry? Among the
organisations taking part is WealthBriefing.
"There is a lot of debate about impending reforms of the EU and
the upcoming referendum in the UK. We are thrilled to have
gathered a group of experts in the private wealth industry and
discuss how and in what way these political developments will
impact our industry,” Nadine Goldfoot, partner at Fragomen, told
this publication ahead of the event.
A Brexit vote will trigger up to two years of negotiations
between the UK and Brussels on unwinding a network of agreements
that have accumulated since the UK first joined the European
Economic Community - as the EU was called at the time - in 1973
under the Conservative-led government of Edward Heath.
Wealth management professionals must understand as quickly as
possible how an exit will affect their clients and
their business. The stakes could be high: high net worth
individuals with significant cross-border interests and who have
immigrated to the UK have become a prominent cohort of the
UK’s wealth management client base in recent years.
A Brexit could affect those jurisdictions such as Malta or Cyprus
- both EU members - which are used by wealthy migrants to gain
access to the rest of the 28-member bloc. Some jurisdictions will
ramp up their efforts to attract non-EU citizens by stressing
more of their inherent attractions rather than purely as being
jumping-off points for another region.
The seminar promises to be a must-attend event for anyone in the
wealth management business seeking to keep abreast of
developments around one of the most significant electoral choices
to be put before the UK public in decades. For more details
including how to register,
see here. Spaces are limited; attendance is free of charge.
Registration is from 4pm and the event begins at 4:30 pm, closing
at 6pm.