Last week Friday, Ms. Iulia Petuhov, the Executive Director of Moldova Investment and Export Promotion Organisation (MIEPO) hosted an official promotion conference in China about the Moldova Passport immigration program. Over 20 consulting agencies participated in the conference including Globevisa. After the conference, out of all the consulting agencies, Ms Petuhov came to Globevisa to share more details about immigration to Republic Moldova despite her busy schedule.
Caroline Feng, our project manager of Moldova passport welcomed the her in person in Beijing office and they had a great time talking about passport immigration program of Republic Moldova.
The following are some Q&As from their conversation:
Caroline: There are a lot of passport immigration programs among different countries. In Europe, Cyprus and Malta are under European Union while Moldova isn't. What do you think are the advantages of Moldova's passport immigration program over others?
Ms. Petuhov: For Moldova's, the investment amount is only EUR$100,000 per person, which is a lot cheaper than Malta or Cyprus. Beside the fact that it is cheaper, we should put more focus on the potential of our country. Apart from policies and taxes attraction, we attract investors by infrastructure and international diplomacy. Talking about the trades with Europe, Turkey, Russia and United States, Moldova has the natural benefit on geographical location. In fact, a lot of multinational corporations from United States, Germany and other European countries investing in Moldova already since we are rising industrial center and providing more competitive labor productivity. Besides, our country has friendly taxation policy as we already signed agreement on avoidance of double taxation with 49 countries. Moreover, we guarantee that results of investors' applications would be proceeded within 90 days as a promise to investors and a requirement on internal efficiency.
Caroline: Which industries do you think is worth-investing? Let's say having a larger return on investment, greater support by the Moldova government or a better industry development?
Ms. Petuhov: As our economic is developing steadily, all industries are also rising and worth-investing. Besides our conventional industries like farming and wine industries, our country focus on developing textile mills and leather products manufacturing industry. Well-known brands such as Versace, Armani, Max Mara, Prada, Nike and Calvin Klein all set up manufacture factories in Moldova. In addition, we also develop technology-based industry. Moldova is the 1st country launching HD sounding on mobile device, rank 3rd on internet speed. Therefore, Moldova is suitable for trade-oriented and manufacturing-oriented companies to set up.
Caroline: How is the penetration of English in Moldova?
Ms. Petuhov: A lot of citizens in Moldova speak English nowadays. International school uses English for education. Public schools start popularizing English on education.
Caroline: Is due diligence strict?
Ms. Petuhov: We would evaluate applicants' social background, criminal records, rationality on assets and so on. We guarantee that within 90 days, result will be declared.
Caroline: As clients care about policy stability and working efficiency, is Moldova more competitive over other countries regarding these two aspects?
Ms. Petuhov: Efficiency on cases evaluation is our advantage. We have 12 staffs to process applications and follow up immediately. As we have the 90-days guaranty, applicants could set their minds at rest. As the program is under serious research and investigation, all our staffs would process according to policy so there will not be any instability. However, we cannot guarantee opening period of the program.
To conclude, since Moldova is a newly rising country and the passport immigration program is relatively new, Moldova government will keep providing efficient service and improving program details in order to satisfy investors' needs.
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