The Investment Migration Knowledge Platform
Confirming the prediction from last year, Dominica’s Prime Minister Roosevelt Skerrit has confirmed in his budget address that revenue from the country’s citizenship by investment program will represent 25% of GDP and some 51% of government revenue in the fiscal year 2019-20, WIC News reports. The statement highlights the criticality of the program in sustaining
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Both sides of the aisle fling scathing allegations as the citizenship by investment program takes center stage in the political debate ahead of possible elections.
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As Caribbean banks and governments struggle to receive CIP-funds, Macfarlane writes that he is amazed they don’t implement simple workarounds.
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“We’re looking for someone who has a lifestyle in which they don’t usually spend more than 90 days in any particular jurisdiction,” says Philip Kisob.
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Changes in international taxation and the new economic substance rules offer unique advantages for some Caribbean and European CIPs, writes Carlyle Rogers.
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Should Q1 prove an indication of an overall trend rather than an anomaly, Grenada can expect to beat its all-time record from 2018 this year.
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The OECS has decided to cooperate on CIPs with standardized applications, an oversight committee, and counter-propaganda. Carlyle Rogers asks: Will it work?
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“No matter how much our jurisdictions adopt draconian laws and pay for expensive enforcement machinery; new and more intrusive demands are made.”
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Through the legal protections afforded to him under Antigua’s common law system, the former diamond merchant has been able to stave off extradition so far.
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Skerrit said OECS member states have agreed to implement policies that will further unify the region’s citizenship by investment programs.
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Thomas Anthony, who has headed the Grenada Citizenship by Investment Unit (CIU) since September 1st last year, will not be renewing his one-year contract when it expires on August 31st.
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During a panel discussion at the Investment Migration Forum in Geneva last week, CIU-heads and agents exchanged views on how to ensure the integrity of CBI real estate. The chairman of CIPA, furthermore, indicated a regional CBI-regulator could soon become a reality.
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Antigua & Barbuda’s deal with Russia catapults its passport’s overall landmass-access score from 25% of the world to 37%.
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Asaria says the EB-5 program was able to create 276,000 jobs during the credit crunch thanks to its employment requirement, and that Caribbean CIPs should do the same.
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Jean-François Harvey argues that the practice of not providing any explanations when rejecting an application is Kafkaesque, unnecessary, and unfair.
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After 5 years of living legally on the island, persons holding permanent residence under this scheme can apply for the BOTC and UK/EU passports.
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PM Skerrit claimed Dominica’s political opposition had agreed to grant a single company exclusive agency for the CIP in exchange for campaign funding.
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Grenada’s government has just published a wide set of amendments to its Citizenship by Investment Act of 2013. No citizenship by investment program has undergone a more comprehensive transformation in the last six months than that of Grenada: In September last year, the program hired a new head for its CIU – Thomas Anthony. In
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“Only when something goes wrong do you see how dangerous these practices can be,” says Carlyle Rogers.
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The IMF also noted a strong economic recovery in Dominica, attributing much of it to investments in hotels scheduled to open this year.
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