Good morning, global opportunists! 

Welcome to the 36th 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:

• The New “Shared Values” Visa 🇷🇺

• Portugal GV Demand Continues 🇵🇹

• Austria Has An Influx of Naturalizations 🇦🇹

• Armenia Eases Visa Requirements for 67 Countries 🇦🇲

Let’s go!

UPDATE

Russia’s “Shared Values Visa” Announced

Russia has introduced a new residency program called the Shared Values Visa (SVV) for citizens from “destructive neoliberal” countries. This visa targets individuals who align with Russia’s “traditional spiritual and moral values,” offering a fast-track to residency without needing to pass language or history tests. The move, effective September 1, 2024, is part of Russia’s strategy to attract conservatives disillusioned by liberal policies in their home countries. Early interest is high, although the official list of eligible countries remains under wraps.

Key perks:

• No residency quotas.

• Simplified application process.

Speculation: Eligibility may focus on Western nations critical of Russia.

UPDATE

Portugal GV Sees Boost In Demand

Portugal’s Golden Visa program continues to attract investors despite predictions of a slowdown after phasing out the real estate route. The first half of 2024 saw a 32% increase in investments, driven largely by interest in other options like investment funds. The upcoming U.S. election has boosted demand, with American high-net-worth individuals seeking political stability abroad. Additionally, the Caribbean’s higher CBI costs and Spain’s visa abolition have made Portugal’s program even more attractive.

UPDATE

Austria Sees Boost in Naturalization

Austria granted citizenship to 11,050 people in the first half of 2024, a 66% rise compared to the previous year. A significant portion of these new citizens are primarily from Israel, the U.S., and the U.K. Additionally, Syrians, Turks, and Afghans represent the largest foreign groups naturalized during this period. Most new citizens were already Austrian residents, with a notable number obtaining citizenship through legal entitlement or as descendants of persecuted individuals.

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UPDATE

Armenia Eases Visa Requirements

Armenia is boosting its tourism industry by allowing visa-free travel for citizens from 67 countries, including the U.S., U.K., and several European nations. This policy aims to attract more visitors and enhance the country’s growing tourism sector, which saw a 40% increase in tourists in 2023. Armenia's rich history, six UNESCO World Heritage sites, and vibrant culture make it an appealing destination. The country is also improving its residency programs to make it easier for investors and entrepreneurs to stay in the country without the need to renew visas.

MARKET REVIEW OF THE WEEK

Niche Real Estate Ideas: Philippines 🇵🇭

The Philippines' real estate market in 2024 presents several niche development opportunities, especially in co-living spaces, mixed-use developments, retirement communities, and entertainment districts.

Co-living Spaces

The growing demand for affordable urban living, driven by young professionals and digital nomads, is making co-living spaces a lucrative opportunity. Metro Manila, with its high population density and increasing property prices, is particularly ripe for these developments. Developers are capitalizing on the trend by creating flexible living spaces that cater to remote workers and the gig economy, blending residential and shared spaces for a communal living experience.

Mixed-Use Developments

Mixed-use projects are on the rise, especially in major urban centers like Metro Manila and Cebu. These developments integrate residential, commercial, and recreational spaces, offering a holistic lifestyle experience that appeals to modern urban dwellers. The demand for such projects is driven by the convenience of living, working, and leisure activities within a single area.

Retirement Communities

As the Philippines attracts more retirees, especially from abroad, there is growing interest in developing retirement communities. These communities focus on providing a comfortable and secure environment with healthcare facilities, leisure activities, and a slower pace of life. Areas like Davao and parts of Cebu are emerging as prime locations for these developments due to their lower cost of living and peaceful surroundings.

Entertainment Districts

The rise of entertainment districts, particularly in urban hubs, is another significant trend. These districts combine dining, retail, nightlife, and cultural activities, drawing both residents and tourists. Key areas such as Bonifacio Global City (BGC) in Manila are already leading this trend, with developers planning to replicate the model in other cities​.

BOOK OF THE WEEK

The Immigrant Exodus

In The Immigrant Exodus, Vivek Wadhwa examines the decline of high-skilled immigration to the United States, particularly among entrepreneurs and engineers. He argues that the restrictive U.S. immigration policies are driving talented immigrants back to their home countries, leading to a "reverse brain drain." This trend, Wadhwa warns, could undermine America's global competitiveness and innovation leadership, as these returning immigrants are building companies and creating jobs elsewhere.

Wadhwa supports his argument with data and personal stories, highlighting the contributions of immigrant entrepreneurs to the U.S. economy. He advocates for immigration reform that would make it easier for skilled workers and entrepreneurs to obtain visas and green cards, thus retaining talent within the U.S. The book serves as both a critique of current policies and a call to action for preserving America's status as a hub for innovation.

THAT’S ALL FOR THIS WEEK

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