Citizenship by investment: Nuri Katz's warnings to Uzbekistan.

At the conference InvestPro Uzbekistan Tashkent 2024, Nuri Katz, the president and founder of Apex Capital Partners, a company specializing in citizenship by investment services, placed a strong emphasis on the importance of partner verification and transaction transparency when investing abroad for Uzbeks. He highlighted that an increasing number of individuals in Uzbekistan are eager to enter the foreign investment niche, and soon many citizens may encounter specific problems due to a lack of awareness.

“I have seen this room,” warned Katz, scanning the potential investors present at the Bosco Conference on November 21, 2024, recounting how many different wealthy individuals from various countries have lost everything due to insufficient verification and a lack of professional advisors.

According to him, Uzbekistan, as an emerging market, must be particularly vigilant in international investments.

“If you don’t know who you’re working with, it can become a disaster. Check not only the programs but also the companies that offer them. Work only with licensed firms,” he emphasized.

Citizenship by Investment: What You Need to Know

Katz discussed the citizenship by investment industry, which began developing 40 years ago on the island of St. Kitts. He noted that such programs offer significant advantages, including freedom of movement and the ability to enter most European countries visa-free. However, he also warned of potential risks:

“Not all projects guarantee a return on investment. Some companies offer programs with non-refundable contributions, which can be a surprise for investors who haven’t delved into the details.”

He also stressed that each program requires thorough verification, especially regarding compliance with international safety standards.

“Governments check potential citizens for criminal risks, but it is also the investors’ responsibility to ensure they are working with reliable companies,” Katz added.

Important Warning for Uzbek Investors

Katz made a crucial remark regarding Uzbek investors considering investments abroad:

“Uzbekistan is a developing country with immense potential, but investors must be cautious. Check every project, every company. I have seen too many cases where people lost money due to a lack of information,” he said.

He particularly pointed out programs that promise quick returns or low prices, reminding that such projects often do not meet expectations. Nuri shared unique experiences accumulated over 34 years in the field and emphasized the importance of asset diversification for international investors.

“Today, I will talk about what our company does, what opportunities citizenship provides, and its key differences from residency,” Nuri Katz began his presentation.

He noted that his company offers services focusing on client verification and transaction transparency.

“Governments require strict vetting of candidates to eliminate criminal risks. We always ensure that we work only with licensed systems,” he stressed.

The Caribbean: A Leader in the Citizenship by Investment Industry

Nuri discussed how the citizenship by investment industry originated in the Caribbean, particularly in St. Kitts, where the first programs were launched 40 years ago.

“I am a citizen of St. Kitts myself, so I can speak about this from the inside. Today, the Caribbean offers passports that provide visa-free access to Europe, starting from investments of $200,000,” he noted.

However, according to Nuri, recent changes have made the conditions less favorable for new clients.

“Your clients, unfortunately, are late. Until June 2024, the cost of citizenship was half,” he emphasized.

He also discussed the importance of investing in verified projects, such as hotel construction, where investors can receive not only citizenship but also returns.

“We are involved in the construction of a Hyatt hotel, where investors receive partial refunds and the opportunity to diversify their assets,” Katz added.

Montenegro: Investment Opportunities

Montenegro, in Nuri's opinion, presents unique opportunities for international investors. Citizenship programs here are supported by the government and are linked to investments in infrastructure, including the hotel business.

“We offer investors the opportunity to invest €250,000 with a guaranteed return of 7% annually for three years. This is an attractive offer that has already attracted many international investors,” he noted.

Nuri also shared how his company actively participates in the construction of five-star hotels in Montenegro, including government-supported projects.

Asset Diversification: Protection and Capital Growth

One of the main focuses of Nuri's speech was on asset diversification. He emphasized that the modern world requires flexibility and the ability to distribute risks across various assets.

“We always say that you shouldn't put all your eggs in one basket. Diversification is the best protection not only for capital but also for personal life,” he noted.

Nuri proposed an approach that includes distributing funds among stocks, bonds, real estate, and currencies to minimize risks.

Investments in America and Global Trends

Nuri spoke about his company's involvement in investment projects in the USA. He stressed the importance of investing in commercial real estate, which yields stable income.

“We finance the construction of multi-story buildings in America, helping to bridge the gap between the necessary funds and investor expectations,” Katz noted.

He also mentioned that the market for citizenship and investments is actively evolving amid global economic changes.

“BRICS are becoming economically stronger than G7. We live in a world that will be completely different in 10–15 years, and we need to be prepared for these changes,” he emphasized.

Prospects for Uzbekistan

While the focus was primarily on the Caribbean countries and Montenegro, Nuri Katz also pointed out that Uzbekistan has tremendous potential as a developing economic hub in Central Asia.

“Uzbekistan has a unique geographical position and resources that make it a promising region for international investments,” he added.

Nuri Katz's presentation served as a comprehensive guide to the opportunities of citizenship through investment, covering experiences from the Caribbean countries, Montenegro, and the USA. His ideas on asset diversification and the importance of a global investment approach were particularly relevant to the conference participants.

“Investing in citizenship is not only about economic benefits but also about freedom of movement and protecting your interests,” he concluded.