Good morning, global opportunists! 

So many opportunities exist around the world for travel, business, and a simple life. Be open minded and curious! Welcome to the 5th 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:

• Shifts in EU Residency & Citizenship Leaders 🇪🇺

• Two More Countries Gain Visa Free Access to the EU 🇪🇺

• EU Tourism Surges to All Time High 🇪🇺

• A Simple Route to Japanese Residency 🇯🇵

Let’s go!

UPDATE

Shifts in EU Residency & Citizenship Leaders

2023 witnessed a significant shift in the European Residency and Citizenship by Investment (RCBI) programs. Portugal, once the frontrunner with its golden visa program, saw its appeal diminish as it eliminated the real estate investment option.

Malta's Rising Popularity

Malta has emerged as a leading destination for investment migrants with its Permanent Residence Program (MPRP), launched in March 2021. The program offers various investment options, including purchasing property or making government contributions.

Spain's Consistent Attraction

Spain continues to attract foreign investment, particularly from Chinese and Latin American investors. Its golden visa program, established in 2013, offers residency in exchange for investment, with one in five homes sold to foreigners.

Key Drivers and Future Trends

The primary drivers of investment migration to Europe include economic opportunities, high living standards, and access to the Schengen Area. Malta and Spain are poised to capitalize on Portugal's receding popularity, offering stable economies, appealing climates, and high living standards.

UPDATE

Romania, Bulgaria Gain Visa Free Access For EU Travel

This decision aligns with the European Union (EU) Council's recent move to integrate these countries partially into the Schengen Area, particularly at air and sea borders.

A Milestone for Bulgaria and Romania

The EU's decision is a culmination of Bulgaria and Romania's decade-long efforts to join the Schengen Zone. Since the EU Commission's initial confirmation of their readiness in 2011, both countries have consistently met the necessary conditions. This integration marks the ninth expansion of the Schengen Area.

Broader Implications for EU Citizens and Visitors

Bulgaria & Romania's upcoming issuance of Schengen visas represents a crucial step in the ongoing integration and expansion of the Schengen Area.

UPDATE

EU Travel is Hot!

2023 was a landmark year for EU tourism, as it not only rebounded from the pandemic slump but also surpassed the pre-pandemic levels of 2019. Eurostat's data reveals a robust recovery, with 2.92 billion nights spent by tourists, marking a 1.6% increase over 2019 figures.

Standout Performers: Malta and Cyprus Lead the Way

The third quarter of 2023 was particularly strong, registering 1.2 billion nights spent, a 0.7% increase over the same period in 2022. Malta led the growth with an impressive 11.1% increase, followed by Cyprus at 10.2%. Other notable achievers included Slovakia, Latvia, Bulgaria, Austria, Czechia, Portugal, Romania, and Greece, all recording double-digit growth.

Accommodation Trends: Hotels, Holiday Homes, and Campsites

In terms of lodging preferences, hotels remained the most popular choice, accounting for 63% of all nights spent. Holiday and short-stay accommodations followed with 24%, while campsites represented a significant 13%, particularly popular in the third quarter.

Room Nights and Decade-Long Growth

The first half of 2023 also saw a significant milestone with 1,193 million room nights, surpassing 2019's pre-pandemic levels. Over the last decade, EU tourism has grown substantially, with a 25% increase in nights spent from 2.33 billion in 2013 to 2.92 billion in 2023.

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UPDATE

How to Secure a Startup Visa in Japan

In 2023, Japan's Startup Visa emerged as a game-changer for foreign entrepreneurs, simplifying the process of starting a business in Japan, which is ranked 29th out of 190 countries for ease of doing business.

Easing the Path to Entrepreneurship in Japan

The Startup Visa in Japan addresses the complexities foreign entrepreneurs face, such as stringent business requirements, including a substantial initial investment and physical office space. This visa facilitates foreigners' entry into Japan, allowing them to conduct market research and lay groundwork before making significant investments.

Benefits of the Startup Visa

The Startup Visa offers a 6 to 12-month stay in Japan, enabling entrepreneurs to understand the market, establish networks, and prepare for their business launch.

Supportive Ecosystem: Government and Local Communities

Japan's local governments play a crucial role in supporting startup visa holders by offering logistic assistance, consultations on subsidies, and guidance on taxation and legal matters. Accelerators and incubators further bolster this support, providing mentorship, networking opportunities, and assistance with the visa process.

The Deregulated Business Manager Visa

In addition to the Startup Visa, some areas offer a six-month deregulated Business Manager visa, allowing entrepreneurs to prepare for their startup without initial capital investment or renting office space. This visa transitions into a regular Business Manager visa upon meeting the standard requirements.

MARKET REVIEW OF THE WEEK

Manila, Philippines 🇵🇭

In 2023, the Philippines real estate market surged back into prominence, led by Manila's astounding 21.2% year-on-year value increase in luxury residential properties, outperforming global giants like Dubai and Shanghai. This remarkable growth, amidst a modest global home price rise of 2.1%, signals a strong recovery from the market downturns of 2020-2021.

Residential Boom

The real estate landscape is witnessing a dynamic shift, with a growing preference for resort-themed horizontal developments outside the bustling capital. This trend is partly driven by the improved connectivity making Metro Manila more accessible.

Office Spaces and MICE

The office space market is poised for growth, with an anticipated increase in demand, particularly in key Central Business Districts (CBDs) like BGC, Makati, and Ortigas. The shift towards quality and affordable options in emerging cities is also a notable trend.

The Philippines is also gearing up to become a preferred destination for MICE (Meetings, Incentives, Conferences, and Exhibitions), with hotel operators and developers creating conducive venues for such events.

The Retail Revolution

As tourism revives, retailers are adapting to the competition from online stores. Malls are encouraged to diversify, incorporating activity centers and exhibit halls to attract footfall.

The Philippines' real estate market in 2023 showcases a remarkable recovery and robust growth prospects for 2024. It stands as a testament to the resilience and potential of the Philippine economy, inviting investors and homeowners to partake in its promising future.

BOOK OF THE WEEK

Limitless

Limitless by Jim Kwik is a guide to unlocking the brain's potential through practical strategies and neuroscience insights. Kwik, a brain coach, emphasizes the crucial role of mindset, motivation, and methods in overcoming mental constraints and achieving success. His approach is grounded in his personal journey from struggling with a childhood brain injury to becoming an expert in accelerated learning. The book offers actionable advice for enhancing memory, learning, and thinking skills, aimed at personal and professional growth.

Kwik's work is not just theoretical; it includes exercises and steps for daily practice, helping readers learn faster, retain more, and think more efficiently. Limitless serves as both a personal development tool and a guide for adapting in a rapidly evolving world, encouraging readers to break free from self-imposed limitations and live more creatively and productively.

THAT’S ALL FOR THIS WEEK

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