Good morning, global opportunists! 

Welcome to the 23rd article from The Sovereign Atlas! Every Friday we publish quick updates that benefit your global sovereignty lifestyle. 

Here’s what we’ve got this week:

• New Changes to Hungary’s Golden Visa 🇭🇺

• Egypt’s CBI Program is Thriving 🇪🇬

• Network States 🌐

• No Future For CBDCs in the US… Hopefully 🇺🇸

Let’s go!

UPDATE

New Changes to Hungary’s Golden Visa

Hungary has introduced three significant amendments to its upcoming Guest Investor Program, effective July 1, 2024.

1. Visa Amendments:
Applicants now have six months, reduced from two years, to enter Hungary with a Guest Investor Visa before securing their residence permit.

2. Real Estate Investment Delays:
Residential property purchases are delayed until January 1, 2025. Only investments in real estate funds or educational endowments are accepted from July 1.

3. Fund Manager Qualifications:
Only qualified fund managers, vetted for national security, can participate in the program. This ensures investment funds are managed by compliant entities.

UPDATE

Egypt’s CBI Program is Thriving

Egypt’s Citizenship by Investment Program has attracted around 1,000 applications, according to Sherif Samy, Deputy Head of Egypt’s Citizenship by Investment Unit.

1. High Interest:
Half of the applicants have paid the $10,000 administration fee, with a substantial number already obtaining citizenship.

2. Dominant Demographic:
Syrians constitute about 75% of applicants. The typical processing time ranges between six to nine months.

3. Investment Preference:
The real estate investment option is the most popular, especially after the investment threshold was reduced to $300,000.

UPDATE

What Are Network States?

Network states, a novel concept blending digital communities with governance, could soon become a new asset class, according to Forbes.

1. Digital Governance:
Network states leverage blockchain and digital platforms to create self-governing entities that offer services and governance to their members, redefining traditional notions of statehood.

2. Economic Potential:
These entities present a unique investment opportunity, attracting capital for infrastructure, services, and community development, potentially leading to a new economic model.

3. Regulatory Landscape:
The rise of network states poses challenges and opportunities for regulators, requiring new frameworks to address their unique structure and functions.

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UPDATE

CBDCs Banned in The US?

The U.S. House of Representatives passed a bill that prohibits the Federal Reserve from issuing a central bank digital currency (CBDC). This legislative move underscores a growing political divide on the future of digital currencies in the United States.

1. Political Divide:
The bill, largely supported by House Republicans, reflects concerns about financial privacy and government overreach. Critics argue that a CBDC could lead to unprecedented state surveillance of financial transactions.

2. Opposing Views:
Senior Democrats, on the other hand, propose that banning CBDCs is premature and may stymie financial innovation. They advocate for continued research to fully understand the potential benefits and risks associated with a digital dollar.

3. Broader Implications:
The debate over CBDCs isn't just a U.S. phenomenon. Over 100 countries are exploring or developing their own CBDCs, with some already in circulation, highlighting the global importance of this issue.

MARKET REVIEW OF THE WEEK

Belize 🇧🇿

The real estate market in Belize is poised for growth, with projections indicating significant expansion across various segments by 2028.

1. Overall Market Growth:
Belize’s real estate market is expected to grow by 2.42% annually from 2024 to 2028, reaching a market volume of $11.31 billion.

2. Residential Sector:
The residential real estate segment is forecasted to grow by 2.59% annually, hitting $8.94 billion by 2028. This growth is driven by increasing demand for housing and investment properties.

3. Investment Opportunities:
The steady growth in the real estate sector presents ample investment opportunities, especially in residential properties, as the market continues to expand and attract international investors.

BOOK OF THE WEEK

Principles of Economics

Carl Menger's The Principles of Economics lays the foundation for the Austrian School of economic thought, emphasizing the subjective theory of value. Menger argues that the value of goods is determined by their utility to satisfy human needs, rather than by their inherent properties or the labor required to produce them. This approach marks a significant departure from classical economics and highlights the importance of individual preferences and marginal utility in determining prices and market behavior.

Menger also explores the origins and functions of money, explaining how it evolves naturally from the most marketable goods as a medium of exchange. He discusses the role of time in economic decision-making, introducing the concept of opportunity cost and the importance of future-oriented thinking. Menger's work underscores the dynamic and complex nature of economic systems, driven by individual choices and the interplay of supply and demand.

THAT’S ALL FOR THIS WEEK

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