High-end retailers, casinos, exclusive clubs, luxury cars. Singapore has become a playground for the affluent. It has one of the highest concentrations of multimillionaires on the planet, making it the perfect venue for a conference on global migration and wealth management strategies. In this industry, the world's wealthiest individuals can buy visas or passports from various countries in exchange for investments. While the industry is known as "investment migration," most clients do not physically move. However, having a European passport is considered the ultimate insurance policy. Many countries, including Caribbean islands and members of the European Union, are competing to sell their citizenship or permanent resident status in return for investments. Canada and Quebec were the pioneers of this industry. Despite its popularity, golden visa programs have become controversial in Europe due to concerns of criminal activity. Canada's federal government created its immigration investor program in 2014, but Quebec became the sole gateway to Canada via a golden visa. The program has been used by criminals and high-profile fugitives to gain entry into Canada. While not all immigrant investors are corrupt, corruption tends to be associated with millionaire migration schemes. The potential risks and real economic benefits of selecting these millionaire migrants are important factors to consider. The Quebec government has touted its immigrant investor program as a success since its creation in 1986. However, there have been issues with retaining these millionaire migrants. Quebec may be seen as a pioneer in the industry, but the failure to retain these individuals is well-known. The creation of business ties between Quebec and other countries, such as Tunisia, was one of the main goals of the program. Hong Kong quickly became a recruitment hub for these individuals.
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