In response to a dramatically changing global landscape, with business and talent relocation on the rise for a host of factors — from the US-China trade wars, to Covid-19 and remote work, and the G20 proposal for a global minimum corporate income tax — Henley & Partners in partnership with Deep Knowledge Analytics has launched the Best Residence-by-Investment Cities for Business Index.
This unique new index ranks the leading 25 capitals and cities around the world that international entrepreneurs, company owners, professionals, and high-net-worth individuals can acquire residence in through investment migration programs. Using an interactive tool, users can select the different factors that matter most to them to make strategic, data-driven decisions about where best to locate their headquarters, executives, employees, and themselves and their families in the post-pandemic landscape.
Spanning five regions, the Best Residence-by-Investment Cities for Business Index taps into over 1,000 data points and more than 40 different parameters and sub-parameters to rank the cities according to 10 main categories that represent the most pressing relocation considerations: lifestyle, tax, education, real estate, healthcare, security, infrastructure, and stability, as well as Covid safety and the relevant investment migration program.
Dr. Parag Khanna, FutureMap Founder and author of upcoming book MOVE: The Forces Uprooting Us, says that at a time when nations are plagued by great disparities in wealth and culture, the focus on leading cities rather than countries is very welcome. “Technological connectivity is creating new vectors of mobility for millions of people. Though we are evolving towards a world in which ever more work is conducted in the cloud, management and employees still have to be somewhere, and given the diverse risks businesses face, from pandemics to conflict to climate change, they must think very carefully about where to expand or relocate, seeking hubs that offer a high degree of reliability in their capacity for business continuity under diverse scenarios.”
The five cities that take the top spots in the index — London (1st), New York (2nd), Sydney (3rd), Singapore (4th), and Zurich (5th) — all score highest in security, infrastructure, and stability, with Sydney taking the number one spot overall for security.
Highest scoring in terms of residence-by-investment program offerings are Vienna (9th) and Lisbon (14th), followed by Rome (16th) and Zurich (5th), and then Athens (20th).
CEO of Henley & Partners Dr. Juerg Steffen says the index is invaluable to those considering investment migration as a means of creating optionality in terms of where they and their families can live, work, study, and invest. “Residence-by-investment programs provide a channel for building a migration portfolio of multiple complementary residence and citizenship options to hedge against volatility and take advantage of new opportunities in the pandemic world order.”
When it comes to value for money, Dubai (11th), Riga (17th), Limassol (19th), Bangkok (23rd), and Port Louis (24th) all offer tax-friendly, affordable, high-standard-of-living options for residence through investment.
Dominic Volek, Group Head of Private Clients at Henley & Partners, says the key takeout from the Best Residence-by-Investment Cities for Business Index is that there are abundant opportunities for affluent and talented individuals who are considering moving in the wake of Covid-19. “Along with seeking out new domicile options for their families, more and more investors are considering relocating their businesses. This trend had begun pre-pandemic, but it is accelerating. All 25 cities are proactively welcoming foreign investors, and while some are clearly leading the pack, each has its strengths and particular appeal.”