Opens new office with the aim to fortify communication with EU stakeholders on the benefits of Citizenship-by-Investment and introduces “Global Citizen Tax” to raise €1 billion for the integration of refugees.
Arton Capital opened its newest office near the European Parliament in Brussels, bringing its expertise right at the heart of European policy.
While representing the citizenship industry and navigating between different member states and European institutions, Arton aims to facilitate communication with European decision makers and share its wealth of expertise and industry knowledge to a proposed Expert Group composed of EU Member State representatives.
“With estimated US$20 billion a year, the Global citizenship is a movement that is gaining popularity throughout the world,” said Armand Arton, Founder and President of Arton Capital. “Investors gain a second citizenship through these programs that offer increased mobility, access to higher standards of living, improved security for the next generation, and overall freedom for the whole family. In exchange, countries gain billions of euros, which can be invested in creating jobs and sustaining economies.”
Following the European Commission’s Report on Investor Citizenship and Residence Schemes in the European Union, adopted on January 23, 2019, Arton Capital has reinforced its efforts to make the industry more transparent, with improved policy making, and greater due diligence.
Overall, the Commission’s report concluded that the best way to guard against the concerns associated with residency or citizenship schemes is to ensure clarity in procedures and responsibilities as well as transparency through regular monitoring and reporting. The Commission also announced its plan to set up an Expert Group, primarily from the ministries of justice, to look at potential risks and work on ways to improve transparency and governance.
In a series of meetings ahead of the first reunion of the expert group on Friday, April 5, Armand Arton and Lora Georgieva, Chief Operating Officer of Arton Capital, together with Steven Corcoran, Advisor of European Affairs, met with different stakeholders, permanent representatives and other interested parties in Brussels. This includes the office of the EU Commissioner for Taxation and Economic Affairs, the permanent representations of Finland, Greece, Ireland, Luxembourg, Portugal, Slovakia, Spain, and the missions of USA and Montenegro to Brussels.
Alongside sharing best practices on program management, data exchange, independent screening of candidates, and reporting, Arton Capital is putting forward the introduction of a ‘Global Citizen Tax’— a contribution levied on wealthy migrants to help cope with the challenges of hosting and integrating refugees in Europe. Though this concept can be embraced at an EU level, it can only be implemented nationally. Arton estimates that such contribution could potentially raise more than €1 billion over five years. Following a positive response, a second meeting with the Expert Group is scheduled for the beginning of July.
“We firmly believe that the global residence and citizenship industry should be a part of the solution for coping with the refugee crisis, joining with partners in business, government, and international organizations,” said Mr. Arton. “European countries that are accepting refugees are also running residence and citizenship programs. The link is obvious, and our research shows that wealthy people seeking such investment solutions are eager to contribute to help those who are less fortunate,” he added.
Arton Capital takes its leadership position in the global citizenship movement with great responsibility. As a trusted partner and expert to more than 11 countries around the world, including the Governments of Quebec (Canada), United States, Antigua and Barbuda, Portugal, Bulgaria, Cyprus and Montenegro, Arton has helped attract more than US$4 billion in foreign direct investment in the last five years.
“We are convinced that our industry is a force for good and has a positive benefit for the European society and economy,” said Arton. “However, many of these benefits are not immediately understood or made available to the public.”
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