How does it invite corruption if it's a legitimate government sponsored pathway? I'm sure NZers are happy to get a piece of rich migrants wealth vs. their money staying in offshore havens
Citizenship by investment (CBI) and residency by investment (RBI) schemes in the EU
This study analyses the state of play and issues surrounding citizenship and residency by investment schemes (so-called ‘golden passports’ and ‘golden visas’) in the EU. It looks at the economic social and political impacts of such schemes and examines the risks they carry in respect of corruption, money laundering and tax evasion.
There is a perception here that housing prices are constantly propped up and inflated because of rich migrants. Or simply because rich people are parking money in Vancouver real estate.
This has been going on since the 1990s.
In the short term people who own property and can benefit from the influx of money are happy. Over time it creates huge resentment from those who don’t see an opportunity to be able to afford owning. This resentment is even found among those earlier rich migrants who are now being priced out by migrants with more money.
I’m sure there is similar sentiment in San Francisco and other places where tech workers have caused prices to increase.
If this is limited in some way, then maybe the locals will be happy to see some additional wealth coming in.
SF has been unaffordable long before the last two or three tech booms, and it's because of limited supply. People just don't go back to read the headlines from the 70s about how expensive it was.
A quick search reveals an article [1] documenting some of the zoning issues that seem to have started in the 1870s.
It mentions many different discriminatory zoning practices throughout the history of the city, and it does show an article from 1978 where people started to voice concerns over pricing.
Thanks for pointing out the longer timeline on affordability!
Link to page: https://www.europarl.europa.eu/thinktank/en/document.html?re...
Citizenship by investment (CBI) and residency by investment (RBI) schemes in the EU
This study analyses the state of play and issues surrounding citizenship and residency by investment schemes (so-called ‘golden passports’ and ‘golden visas’) in the EU. It looks at the economic social and political impacts of such schemes and examines the risks they carry in respect of corruption, money laundering and tax evasion.
Link to PDF document: https://www.europarl.europa.eu/RegData/etudes/STUD/2018/6271...