Press Release by Henley and Partners
Eastern Europe is now home to some of the most dynamic and fastest-growing markets in the world, with the Republic of Moldova being a prime example of a nation with enormous potential. Located at the crossroads of Europe, Asia and the Middle East, Moldova has a thriving start-up scene and is proving to be a hub for some of the world’s most exciting technological innovations.
The small and formerly underdeveloped Eastern European nation is becoming increasingly attractive to dynamic investors. In addition to being one of the world’s main wine exporters, with a burgeoning wine tourism industry, Moldova has an established food manufacturing sector and a budding automotive industry. Long caught between Russia and the European Union, the country is now looking eastward to new partnerships and networks of co-operation, recently joining hands with China on the Belt and Road Initiative (BRI).
Moldova’s geographic position makes it one of the final key stages in China’s grand infrastructural project. The two nations’ mutual resolve to expand bilateral trade and investment and strengthen cultural exchanges looks set not only to facilitate significant growth, but to make Moldova a particularly exciting market for Southeast Asian investors.
As both the Silk Road Economic Belt and the Maritime Silk Road Route pass through Southeast Asia, it is anticipated that the impact of the multi-trillion-dollar belt road initiative BRI will also be felt in developing Southeast Asian countries, opening up opportunities to gain a foothold in Europe. Moldova already has double taxation avoidance agreements (DTAAs) in place with approximately 49 countries, including China and Japan in Asia, and it plans to expand that list to include more Southeast Asian countries.
The latest example of Moldova’s ambitious and future-focused development strategy is the country’s newly introduced citizenship-by-investment program, which is set to play a driving role in securing foreign direct investment and encouraging entrepreneurship.
During a panel discussion moderated by media personality Chloe Cho, which coincided with the Southeast Asia launch of the Moldova Citizenship-by-Investment (MCBI) program in Singapore recently, H.E. Vitalie Iurcu, State Secretary of the Ministry of Economy and Infrastructure of the Republic of Moldova, said: “Our country has come a long way over the past few years, and many of our most important industries are now thriving. Moldova is committed to active participation in BRI, and we look forward to strengthening cultural and trade ties between our countries.
“In order to take further steps forward in our economic development and support the social wellbeing of all Moldovans, we need to welcome a variety of new ways of generating capital. Along with our participation in BRI, the MCBI program is part of this future-focused approach.”
Dominic Volek, Managing Partner and Head of Southeast Asia, Henley & Partners, said that citizenship-by-investment programs offer invaluable benefits to both host nations and investors: “For host nations, investment migration’s true value lies in its extraordinary social and economic impact, which is felt at all levels of society. Around the world, from Malta and Cyprus in the Mediterranean to the islands in the Caribbean, sovereign states are realising that investment migration injects new liquidity into an economy, creates sustainable income streams that can support public financial needs, attracts foreign direct investment, and expands opportunity for all citizens.”
The panel discussion also featured Iulia Petuhov, Head of the Citizenship by Investment Program of the Republic of Moldova, who commented on what makes the program so attractive to investors: “The MCBI offers a highly competitive pricing structure, with minimum investment as low as EUR 100,000, and applications for family members would cost only an additional EUR 15,000 per person.”
She stressed that after a stringent vetting and due diligence process, successful applicants are granted full citizenship rights that are transferrable without restrictions to future generations. “Moldova also issues its citizens with biometric passports and has a very straightforward and well-thought out application process, in keeping with the highest industry standards. The Moldova passport offers holders visa-free/visa-on-arrival access to 121 destinations including the European Schengen zone,” Petuhov added.
Aside from the MCBI launch in Singapore, Henley & Partners also held a series of Global Citizenship Seminars which took place in Bangkok, Manila, and Ho Chi Minh City the same week. The seminars provided an overview of global mobility trends as well as an update on the world’s leading investment migration programs that are available.
