#33: Putting The Spark Back in Sark - Swen Lorenz's Big Plans for Europe's Tiniest Tax Haven

Sark - a tiny, self-governing island in the English Channel that has no income or capital gains taxes - is home to just 600 people. For years, the car-and-crime-free island's population was in decline and struggled to sustain even the most basic services. That was until German entrepreneur Swen Lorenz showed up in 2017 and began singing the island's praises across the European continent. By 2021, when we first covered the story, Lorenz's efforts had already driven a 20% increase in the island's population. Now, after years of planning, Lorenz is making what could be the biggest move of his career: He has plans to raise some GBP 70 million over the next several years to renovate and redevelop as much as 40% of the crown dependency's total land area and more than double its population. "We want to purchase and refurbish neglected properties, aiming to revitalize the island and attract new residents through the Sark Property Company," said Lorenz during his appearance on IMI's podcast. "Our vision is to make Sark one of the best places in the world to live, and not just for the wealthy."We asked Lorenz a range of questions, including:What is it like to live on Sark, and what kind of people does he hope to attract?How can you get residency there?Why are so many of the island's properties in a state of disrepair?What does his company plan to do once it has acquired 40% of the island?What kind of returns does he foresee for investors?How many people does Sark have room for?What do the locals think of his redevelopment plans?