Egypt Moves Closer to CIP-Launch as Parliament Grants Approval In Principle to New Law
What had initially been a residency program with a path to citizenship is shaping up to become a bona fide CIP without the need for a residence period.
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MENA
UAE Issues First Golden Visa to Handpicked Sharjah Businessman
Samuel thanked the Sharjah Directorate of Residency for “their initiative to contact him and introduce him to the golden visa system.”
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Saudi Arabia’s New €187,000 Residence by Investment Program Could Raise $10bn a Year, Says Crown Prince
From black gold to golden visas: Saudi Arabia wants to cut reliance on oil and capitalize on its 12 million foreigners by offering them permanent residency.
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21 Citizenships Issued Under Jordan CIP, But Half of Applicants Rejected
Jordan has granted 21 citizenships in exchange for investors since 2018 – mostly to Syrian and Iraqi applicants – but the rejection rate remains remarkably high.
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Saint Kitts CIU Moves to Reassure Market Following Gulf News Rout – “Clients are Concerned,” Says Bayat
“Of course, I’m disappointed and sad that this issue has come to the public attention,” said Bayat during an interview with IMI at the Investment Immigration Summit in Dubai this weekend.
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Persecuted Egyptian Activist Asks Online Followers’ Help to Get Dominica Citizenship by Investment
Human rights advocate Sherif Gaber tells the harrowing story of how Egyptian authorities are preventing him from leaving the country and asks his followers to help him invest in a Dominica citizenship.
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Demand for Turkish Citizenship by Investment Takes Off Following Price-Cut, Reports Say
Turkey’s decision to cut the price of its citizenship by investment program by 75% at the end of last year has catapulted interest in the program to such an extent that some service providers say they are now filing 20 applications per week, reports say.
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Analysis: Is the UAE Passport REALLY the World’s Strongest?
After we last week reported on the Arton Capital Passport Index’ ranking of the UAE-passport as the world’s strongest, a number of readers wrote in suggesting that the methodology by which the index had arrived at that conclusion had several important shortcomings. A note from the editor: Although I am frequently accused of doing so,
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UAE Now Tops Arton Passport Index, But 21st on Henley & Partners Index
The United Arab Emirates’ celebration of its 47th national day today coincides with its passport reaching pole position on the Arton Capital Passport Index. But on the Henley & Partners Passport Index, the UAE doesn’t even place in the top 20. What’s going on? “On the glorious UAE National Day, our achievements are getting doubled. The
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Price of Turkey’s Citizenship by Investment Program Cut to $250,000
According to an Official Gazette (in Turkish), new prices are now in effect for the Turkey citizenship by investment program. The minimum investment necessary to qualify for citizenship is now US$250,000, down by three quarters from the initial minimum requirement of $1 million. Investors may choose from a variety of options, including real estate, bank deposits,
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Jordan CIP Receives 105 Applications in its Seven First Months
The Jordan Citizenship by Investment Program has received 105 applications since opening in February this year, despite its high investment requirements and doubtful utility. The Jordan Investment Commission on Monday reported that eight arab nationals would be approved for Jordanian citizenship under the country’s CIP within the next two weeks, according to Jordan Times. “All
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UAE Announces Golden Visa for Retirees
In a significant policy shift, the United Arab Emirates (UAE) will allow existing foreign residents (above the age of 55) to obtain extended residency visas after they retire, Bloomberg reports. The new law, which will come into effect in 2019, is intended to boost the economy and nurture the long-term growth of the oil-rich nation.
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Egypt’s Parliament Passes Residence-to-Citizenship by Investment Bill
The Egyptian parliament has passed a law that will grant residency – and, after a five-year period of continued residence, citizenship – to foreigners who deposit seven million Egyptian pounds (about US$ 390,000) in one of the country’s state-owned banks. Reports of the new “program” reveal several characteristics unorthodox in the RCBI-market: Those approved under
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Egyptian Parliament Proposes Residence-to-Citizenship for US$ 391,000 Investment
A proposed bill in the Egyptian Parliament, which received the preliminary approval of lawmakers on Sunday, would allow foreigners residing in Egypt to obtain citizenship after five years in exchange for a deposit of seven million Egyptian pounds in the country’s banks or treasury, reports Bloomberg. Current law only allows for citizenship following ten years
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UAE Announces 10-year Visas to Investors, 100% Foreign Ownership, Visa-Free Travel to Canada
The United Arab Emirates have announced sweeping regulatory changes to its investment and immigration laws. Key amendments include 10-year visas for entrepreneurs, investors, scientists and other categories of individuals of exceptional talent, as well as opening for 100% foreign ownership in UAE-companies, even outside free zones. According to Gulf News, the UAE government said 10-year
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Bowing to Market Forces: Turkey to Cut CIP-Price From $1 Million to $300,000
Having at first wildly overestimated the relative value of its nationality, Turkey now appears to have come to terms with market realities and is poised to drastically cut the asking price for its citizenship by investment program (CIP). First launching in 2016 at a starting price of US$1 million for real estate investments with a
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Jordan’s New CIP Gets 52 Applications in First Month Despite Hefty Price Tag and Dubious Benefit
A little over a month has passed since Jordan announced it would be accepting applications for naturalization in exchange for substantial investments in the country. Contrary to expectations, the program has already gained significant traction. When the Jordan Investment Commission (JIC) declared on February 26th its intentions to open a citizenship by investment program with
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Turks Realize Their Citizenship is Overpriced, Plan to Cut Investment Requirements
After announcing to great fanfare last year that Turkish citizenship would be available to foreigners who bought and held real estate worth at least US$ 1 million for three years, Turkey’s Interior Ministry has announced that they are “rethinking” the program and will consider a drastic reduction in the investment requirement. In 2016, the government
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