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Dubai has brought together the highest number of RCBI companies: the annual market review

September 7, 2022

5 minutes read

Dubai has brought together the highest number of international RCBI companies: the annual market review

The article publishes an analysis of the global RCBI (Residence and Citizenship by investment) market and its dynamics over the past 18 months. The companies that are featured in the survey operate in the field of investment immigration and meet four main criteria:

  • have physical offices in two or more countries
  • have at least 10 employees on staff
  • offer a wide range of services through investment immigration programs, not focused on one
  • RCBI (residency and citizenship by investment) is the company's leading line of business

The survey of international companies considers only the number of countries where an organization has a representative office, not the total number of physical offices. RCBI-firms represented in three countries, with three offices in each, receive a score of 3.

Growth and drawdown of international market presence

Compared to the previous survey, the number of RCBI-firms in 2021 increased from 52 to 62 companies. Many of the market participants have expanded their presence in new cities and countries. The largest absolute growth in the number of international specialized RCBI companies was observed in such states:

  • Turkey (Istanbul) and Portugal: 10 new firms opened each
  • Hong Kong and the United Kingdom: 6 each
  • UAE and Vietnam: 5 each
  • India: 4
  • Nigeria and Malta: 3 each

However, there are markets where the number of international RCBI specialists has decreased: Russia has lost 3 companies while Malaysia, Egypt and Cyprus have lost one company each. The comparison of the states where the maximum number of international specialized RCBI companies is registered is shown in the summary table.

Country 2021 2022
UAE 30 35
Canada 20 23
UK 17 23
Portugal 10 19
Turkey 8 18
Hong Kong 12 18
China 15 17
Cyprus 16 15
Vietnam 7 12
St. Kitts and Nevis 10 12
Nigeria 8 11
Malta 8 11
India 7 11
Dominica 9 10
USA 9 10

The largest number of international RCBI companies are registered in the United Arab Emirates: 35 of them have opened offices in the state, mainly in Dubai. This is followed by Canada and the UK with 23 RCBI firms each, followed by Portugal (19), Turkey (18), Hong Kong (18), China (17) and Cyprus (16).

The most international companies

Only two RCBI-companies have offices in more than 30 countries. Another firm has more than 20 international offices, and all the other companies are represented in a smaller number of countries:

  • Henley & Partners and Migrate World have offices in 31 countries each. However, H&P's footprint is larger, as it has several offices (three in South Africa, three in India, two in Switzerland and two in Nigeria).
  • Harvey Law Group, predominantly based in Southeast Asia, has offices in 23 countries.
  • Arton Capital has 19 international offices.
  • Latitude/RIF Trust operates in 18 countries.
  • Delsk has 17 international offices.

International RCBI firms that have scaled and strengthened their market position

Companies that have opened offices in new countries in the last 18 months:

  • Xiphias Immigration: +9
  • Harvey Law Group: +6
  • Beyond Residence & Citizenship: +5
  • Migrate World: +5
  • Reach Immigration: +5

Other international RCBI companies, as seen in the table below, have downsized some of their offices in order to improve the quality of their services.

Company 2021 2022
Henley & Partners 31 31
Migrate World 26 31
Harvey Law Group 17 23
Arton Capital 17 19
Latitude/RIF 20 18
Delsk 17 16
Discus Holdings 15 15
Beyond Immigration 8 13
Reach Immigration 8 13
Migratio 12 12
NTL Trust 12 12
Xiphias 2 11
AIMS Immigration 9 10
Bayat Group 18 9
Mercan 8 9

In general, the international RCBI-market continues to grow: over the past 18 months, it has increased in scale by 10 international companies. The number of local firms specializing in investment immigration has almost doubled in many countries.

Source: IMIDaily

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