///Qatari Sheik investing in new tourism business opportunities in Costa Smeralda

Qatari Sheik investing in new tourism business opportunities in Costa Smeralda

Gulf monarchies are always looking with favour towards Italy and its many treasures, as the latest investment by the Qatari emir Faisal Bin Saoud Al Thani shows. Thanks to him, the already solid bond between Doha and Sardinia will grow even stronger. On 14 August, the mayor of the municipality of Arzachena, Roberto Ragnedda, received Sheikh Al Thani, president of the Smeralda Invest group, to talk about a five-year investment plan, amounting to 120 million euros.

It was an “operational meeting” (as noted by the institutional representatives), anticipating the investments that the Qatar group intends to carry out in Arzachena and in Costa Smeralda. In fact, for this year, Smeralda Holding – of which Qatari Holding, the operative branch of the country’s sovereign fund, is the only shareholder – expects to invest 30 million euros; this amount will grow to 120 million by 2022. This sum will go towards “asset restructuring, territory’s enhancement and the increase of entertainment activities”. Tourism will be the focus: a new high-level vocational school will open in the future. According to the mayor, a new marketing program aimed at younger generations will complement the school.

The mayor intends to exploit this investment to improve further the territory tourism potential, thus extending the tourist season. In his words, his main objective is to create “excellent and innovative services, able to connect the coast with the hinterland: from the marvellous beaches to the historical heritage of the archaeological sites. But this link must begin and be strengthened among the inhabitants of the villages, the centre, and the visitors, who must perceive a well-rooted community spirit”.

Such cooperative spirit is also evident in the statement of Sheik Al Thani, pronounced during his visit to the town hall: “I feel a strong need to strengthen our relationship with this institution and with the community, also through my greater presence here in Sardinia”.

Thanks to the new investor visa, businesspersons such as Sheik Al Thani will have an easier time if, when intending to invest in Italy, they also look forward to getting a visa and a residence permit. In addition to this new normative provision, they can also benefit from a huge tax advantage if they are willing to transfer their fiscal residence in Italy. In fact, they will be able to pay just 100,000 euros per year on all income made abroad. Investorvisa.it is not only offering its expertise in dealing with the visa procedures but also fabulous investment opportunities in the tourism sector.

Source: Sole 24 Ore

By | 2018-08-23T07:00:04+00:00 August 23rd, 2018|Politics & Economy|0 Comments

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