Bitcoin and low taxes: why Miami is the most attractive city for foreign companies

For decades, Miami was known as the gateway to USA a Latin America. However, spending a few hours in the office of the city’s mayor, Pranciškas Surez, reveals that the southern metropolis Florida it has also become a magnet for investors from other corners of the world.

Sitting in the waiting room was Lech Walesa, the former president of Poland, patiently waiting his turn for an audience with the mayor. The advisers are enthusiastically discussing the possible arrival in town of an investment conference they are sponsoring Saudi Arabianickname “Davos in the desert”.

“We are receptive and we want the best, the brightest and the best with a capital letter to come. Why? Because it will make us stronger,” says Surez, sitting in a modernist white-walled office. “Our salaries are growing faster than others.

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Rising status Miami how international center – which has put it at the top of the FT-Nikkei Investing in America’s Best Cities ranking. USA for foreign companies-, coincided with a similar rise as the destination of choice for domestic investors.

Los Financiers of New York and California Tech Entrepreneurs They started moving to the city the coronavirus pandemicciting its light confinement facilities and warm climate that made working at home bearable.

Los foreign investors they followed his example. though foreign investment direct (IEDs) and USA in case it collapses in 2020 Miami rose 70%, with United Kingdom, Panama i.e Spain leads according to fDi Markets, an information provider owned by Financial times which follows FDI into green zones or cross-border investments that create new jobs and facilities.

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Miami has traditionally been advertised as the gateway to Americaand it’s still true,” says Ilona Vega Jaramillo, vice president of the Lighthouse Council. Miami Economic Development. “But I’d even say we’ve outgrown that. I think we’re a global urban center now.”

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Many locals admit to Surez that their town has been under surveillance new investors in 2020 a playful four-word tweet: “How can I help?” (The tweet was in response to a manager’s offer at Silicon valley that disappointed technology investors leave the north California him from Florida).

Suez, which likes to call its city “the capital of capitals”, has continued to build more facilities to help companies establish themselves, including an office to help potential investors. To foreign they didn’t care More than half of the population Miami was born abroadthe largest share of any large American city.

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Surez achieved this transfer almost entirely on the strength of his personality; the mayor Miami it has limited executive powers and the position is part-time. Republicansmanaged to maintain the party’s historical reputation as a business friend – taxes remains low-key but openly critical of politics against immigrants about Donald Trump.

“The mayor has done a really good job of creating this snowball effect that we can take seriously,” says Kurt MacAlpine, CEO of Canadian asset manager CI Financial.

Issuing company Miami last year for its US headquarters and recently doubled its lease at 830 Brickell, the world’s newest office building. Miami’s financial district and other famous names such as Citadel, Microsoft, AirCap i.e Tom Bravo. The building is slated for completion in January, and projected rents have nearly doubled to $120 per square foot in three years.

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Like many local leaders, Surez targets technological groups how is it possible for investorsbetting that high price and political pressure centers of traditional technologies how San Francisco i.e New York will make south of Florida be more attractive.

Surez Seala is a rigid decision point New York withdraw your offer Amazon for its second location in Long Island City, as a major tax benefits proposed to the e-commerce group has sparked fierce local opposition Big apple.

He made groups of cryptocurrencies a specific goal. Last August, Surez launched MiamiCoin, which produces Miami in the first municipality your digital currency. The move comes months after the biggest conference Bitcoin world moved from Angels a Miamiand from what FTX Cryptocurrency Exchange paid 135 million US dollars for the naming rights of the basketball team’s stadium Miami Heat.

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Despite market volatility cryptocurrenciesMiami coin has lost almost all of its market value since its launch – Surez continues to receive part of his salary in Bitcoin.

“Most of the ecosystem and energy cryptocurrencies moved to Miamiand we want to be a part of that,” says Peter Smith, CEO of UK-based, which has moved its headquarters to USA about New York a Miami last year


The city was not without growth problems. Real estate prices increased by 36% and rental fees and 26 percent last year and Miami the highest rise was recorded in July rental fees For the 10th month in a row among U.S. cities, according to real estate website

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“There was a lot rental feescommercial or residential, so it was prohibitively expensive to do what we originally planned,” says Luis Merchan, CEO of global cannabis company Flora Growth, which announced last year that it would move its headquarters from Toronto to Miami.

As the population grew, it also became more difficult for foreigners to obtain school vacancies for my children.

“The lack of housing and vacancies It’s a huge problem,” says Richard Florida…


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