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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Policy Updates
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”
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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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Grenada CIP Leaves Nothing to Chance in New CBI-Discounting Prevention Regulations
In a follow-up circular to this week’s announcement that the Grenada Citizenship by Investment Programme had lowered its real estate investment requirement to US$220,000, the program’s CIU makes it clear that the practice of discounting CBI-real estate will not fly in Grenada.
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Montenegro Sets Deadline for April 1st in 2nd Attempt at Picking Due Diligence Providers
Having rejected the applications of all 13 prospective due diligence providers for the Montenegro Citizenship by Investment Program, the Secretariat for Special Projects calls on candidates to submit their applications – this time filled out to the letter – before April 1st.
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Montenegro Picks Only Three Firms – Arton, Apex, and Henley & Partners – as Approved Intermediaries
In a succinct statement on its website, Montenegro’s Secretariat for Special Projects reveals it has picked Henley & Partners, Arton Group, and Apex Capital as approved intermediaries for the country’s upcoming citizenship by investment program.
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Grenada Amends CIP: Resold CBI-Property to Qualify – Siblings, Grandparents Now Eligible as Dependents
In a statement released yesterday, the Prime Minister’s Office in Grenada informs the public of a series of substantial changes to the country’s Citizenship by Investment Programme.
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UK Tier 1 Changes: Bond Investments Now Ineligible as Home Office Moves to Increase Benefit to Economy
The changes aim to better protect against financial crime and ensure investments are of greater benefit to the UK economy.
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Montenegro CIP Rejects All 13 Prospective Due Diligence Providers Over Incorrect Applications
Montenegrin officials said in a press release that none of the 13 due diligence firms (see which below) “complied with the criteria prescribed”.
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IMC Cautions MEPs Ahead of Vote: Phasing Out IM Programs Detrimental for Member State Economies
The European Parliament is about to vote on a report that urges the “phasing out” of investment migration programs. Such a decision would have severe adverse effects on Europe’s peripheral economies, says the IMC, which urges MEPs not to support the calls for the industry’s discontinuation.
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Montenegro Invites Real Estate Developers to Apply For CBI-Approval
Project must have five stars (or four in less developed regions), a total investment of at least EUR 15M (or EUR 5M), 80 (or 25) staff, and at least 60 (or 35) rooms.
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Vanuatu and China Close to Visa-Waiver Agreement, Vanuatu PM Tells Media
Prime Minister Charlot Salwai of Vanuatu has told local media that his countrymen will soon be able to visit China
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Vanuatu Removes ‘Honorary’ Designation From Investors’ Citizenships
Individuals naturalized under Vanuatu’s Development and Support Programme (VDSP) – one of two concurrent citizenship by investment programs in the Pacific
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Anguilla’s Proposed Residence by Investment Program Takes Shape
Anguilla’s planned residence programs – which the concessionaire expects to open in Q2 2019 – will include options for lump-sum tax, real estate acquisition, and donations to a government fund.
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Cyprus Citizenship Program Raises Mininum Investment, Reports €6.6 Billion Revenue Since 2013
Having lowered the minimum investment requirement for its citizenship by investment program in 2016, from €2.5 million to €2 million,
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Saint Kitts’ New Escrow Law to Prevent CBI Real Estate Tricks
The new escrow law will make developer payouts contingent on construction milestones.
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Bulgaria Mulls Scrapping Residence-to-Citizenship Program Due to Lack of Interest
Christian NesheimEditor Reuters reports that the Bulgarian Ministry of Justice plans to terminate its residence-to-citizenship by investment program, citing
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