What is the Long-Term Future of the Immigration Industry?
Henry Fan, CEO and Co-founder of Globevisa Group, shares insights on the future of the immigration industry and the strategies that will keep clients’ trust and journeys smooth.
The world of immigration is like a constantly spinning wheel. With over two decades of experience in this field, I have learned to navigate the turbulent waters of policy changes. But here’s what keeps me up at night: How can we maintain our clients’ trust and ensure their immigration journeys remain smooth? How can we become more competitive in the immigration consulting industry?
I want to share insights from the immigration consulting industry, exploring the long-term future that awaits us in this dynamic world. Together, let’s delve into strategies and approaches that will help us thrive amidst the constant shifts.
B2B or B2C: The Path to Long-Term Success
I am aware that many immigration companies are venturing into B2B operations these days. However, when it comes to ensuring the long-term growth of a company, I firmly believe that B2C should be the primary focus.
The reason is simple: the B2C model allows us to have a direct line of communication with our clients. It empowers us to listen to our clients’ needs and craft immigration solutions tailored specifically for them. Moreover, in the event clients have new needs along the way, we are also well-equipped to offer them tailored solutions promptly.
Since B2C is of paramount importance, my suggestion is to open offices in outbound countries where local individuals aspire to acquire another country’s residency, such as China, Vietnam, India, and more. These offices should host dedicated teams of professional immigration consultants, committed to delivering personalised, face-to-face immigration solutions to your clients.
Creating Value through Diversity
In a sea of immigration consulting firms, what sets you apart?
Diversity is key. Many companies focus solely on traditional immigration destinations like Canada, Australia, or the United States. However, immigration policies change over time. If your company solely relies on a single pathway like the Portugal Property Golden Visa, you could lose business overnight, leaving your clients with no other option.
Offering diversified programmes is therefore a wiser approach. However, with diversification comes the need for transparency and fluidity. You should provide ongoing programme updates to clients, ensuring transparency and reducing their concerns, thereby fostering trust. Fluidity equips the company to adapt to market changes and competitive pressures. Being an adaptable and dynamic firm can make your outbound consulting teams stronger and you can earn clients’ trust.
Establishing Inbound Legal Service and Hosting Teams
Consider this: if your client needs to travel to Greece for fingerprint registration, what services can you provide to enhance their experience? What about clients visiting Cyprus or Spain to select properties? Do you have a dedicated hosting team in place?
Providing these personalised services can truly set your company apart in the vast landscape of the immigration industry. To achieve this, consider establishing highly specialised in-house legal teams in inbound countries such as Greece and Portugal. These teams can exclusively handle visa applications for your clients, ensuring a smooth and efficient process. In addition, they can offer first-hand information in the event of sudden policy changes, promptly relaying updates to the clients.
Compliance: The Cornerstone of Success
Not too long ago, news of a certain company’s non-compliant behaviour in the EB-5 programme made waves in the immigration landscape. As industry peers, we were shocked by such behaviour, but more importantly, we sympathised deeply with the innocent clients who became unwitting victims of these non-compliant practices.
Implementing thorough due diligence procedures for clients, including comprehensive background checks and source of funds verification, is crucial, especially in pathways like Citizenship-by-Investment (CBI) that involve financial transactions.
Furthermore, ensuring that your staff is well-versed in compliance matters and regularly updated on changing regulations is vital. When considering partnerships with programme providers to introduce new pathways, establishing a Programme Research & Development team is advisable. This team can collaborate with legal experts to ensure strict compliance with immigration laws, meanwhile the Compliance Department meticulously reviews the qualifications of the partners and projects.
While it may require a willingness to bear the high costs of compliance, placing compliance at the forefront is paramount for the long-term viability of your immigration firm.
This insight, drawn from my two decades of experience in running an immigration firm, reflects the path we are committed to pursuing and shaping our long-term future. Ultimately, my sincere hope is that we can continue to fulfil the dreams of many more individuals. “Your gateway to the world” is our motto; the world is vast and beautiful. Through our work, we can help people find a better place to call home, encapsulating the essence of our industry’s meaning. Perhaps in the future, we may even assist our clients in immigrating to different planets, such as Mars. Who knows what possibilities await us
