Canceling Moldova CIP Now Would Mean “€3-4 Million Fine”: Parliament Approves 4-Month Freeze in Dual Reading
Upon expiry of the moratorium, the government will have the right to extend it for another two months.
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Policy Updates
Moldova CIP Moratorium Likely to Last Four Months
“It is likely but not self-evident that after the moratorium, Law no. 1 will be withdrawn,” says Henley & Partners.
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DHS to Publish Final Rule on EB-5 Tomorrow That Would Raise Min. Investment to $900,000
But the new rules may never take effect if the EB-5 Regional Center Program gets a congressional extension before Sep 30th.
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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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House to Vote This Week on Bill That Would Remove Per-Country Visa Caps on EB-5 Program
Stakeholders warn that removing per-country caps without also increasing the number of available visas will not solve the program’s capacity problem.
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Planned Equity/Bond Investment Options For Greek Golden Visa On Hold Pending Election
Greece has put plans for the EUR 400,000 share, bond, and deposit options on ice as it braces for a snap election on July 7th.
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Greece Decentralizes Golden Visa Processing to Tackle Two-Year Waitlists in Greater Athens
Rules requiring golden visa investors submit files in the municipality where they bought the property had seen Athens appointments fully booked until 2021.
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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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Grenada Publishes Sweeping Amendments to its Citizenship by Investment Act
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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IMC-Chief on Brussels Meeting: “Commission Deserves Credit for Inclusive Approach”
Attendees expressed optimism following the European Commission’s stakeholder meeting on investment migration in Brussels today
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Saint Lucia CIU Publishes Prices For “Add-On” Dependents
When Saint Lucia’s CIU last week announced it would begin to accept the inclusion of dependents in already approved citizenship by investment applications for a period of up to five years following the CIP-approval, investment migration advisories welcomed the news but asked: “at what cost?”. Read last week’s memorandum here. Only today, eight days later,
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Montenegro CIP Finally Picks Official Due Diligence Providers
After rejecting all 13 companies that applied to become the Montenegro CIP’s official provider of due diligence services in March this year, the government’s Secretariat for Special Projects has announced that it received 11 correctly filed applications by the April 1st deadline, from which it has selected two companies, one based in Canada, the other
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Cyprus CIP Investors Who Began Process Under Old Rules to Be Grandfathered in, Avoiding €150k Donation
On Monday, Cyprus’ Council of Ministers decided to grant an exemption from the €150,000 donation requirement to those investors who began the CIP investment process prior to the new rules.
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Harris: Vanuatu Government Addresses the “Multiple Citizenship Program” Paradox
In a welcome series of new Regulation Orders, Vanuatu moves to harmonize the terms for its citizenship programs.
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The UK’s New Startup and Innovator Visas: A Detailed Explanation of How They Work
The Home Office is discontinuing the UK’s Tier 1 Entrepreneur Visa, and replacing it with two new visa categories. Saadiya Saadat elaborates.
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Industry Largely Welcomes Grenada CIP’s 20% Equity Rule, But Not Everyone is Happy
While prominent industry commentators laud the introduction of a skin-in-the-game requirement, some Grenadian developers say the government’s definition of “skin” puts them at a distinct disadvantage. Show me the money New regulations for the Grenada Citizenship by Investment Programme stipulate that CBI-real estate developers must have a 20% equity stake in their projects to obtain
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Developers Promoting Grenada’s New Price Option Without Prior Approval Subject to Penalties, CIU Warns
Following the introduction of its US$220,000 real estate co-investment solution on March 18th, the Grenada CIU reiterates that the new price option is only available to developers that have received advance written approval, and cautions that those found to promote the new price prematurely will be subject to review and possible penalty.
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NBLO: Proposed Changes to Bulgarian Citizenship Law Would Make Program Similar to EB-5
The investments proposed to be eligible for the Fast Track will make a Bulgarian CBI solution somewhat similar to the US EB-5 program.
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Euro-Parliament Votes to Endorse “Phasing Out” of RCBI in Europe: “Not the Right Answer,” Says IMC
The European Parliament today voted to adopt the TAX3 Committee’s February report calling for a “phasing out” of RCBI in Europe. The IMC has reacted with disappointment, calling instead on MEPs to support its work in raising industry standards.
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Savory & Partners No Longer an International Marketing Agent in Saint Kitts
In a notice circulated yesterday, the Saint Kitts & Nevis CIU informs stakeholders that Savory & Partners is no longer a registered International Marketing Agent and may no longer submit applications to the country’s citizenship by investment program.
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