The Investment Migration Knowledge Platform
Saint Kitts & Nevis, Saint Lucia, and Cyprus become the latest citizenship by investment jurisdictions to announce adaptive measures in the face of the crisis.
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Bulgarian lawmakers have tabled a bill in Parliament that would see the residence-to-citizenship program continue after all, albeit with amendments.
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Grenada goes 100% digital in response to coronavirus crisis, while Antigua’s CIP slashes the price of adding dependents to already-approved applications.
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As Governor-general David Vunagi delivered a speech to Parliament this week, he revealed that the government is evaluating plans for a CIP.
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The proposal, allegedly, would see the annual quota on EB-5 visas amplified to 75,000, as well as a halving of the investment requirement to US$450,000.
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In a letter circulated Monday, the Antigua & Barbuda CIU informs stakeholders of a slew of significant amendments to program policy.
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Irani, Sudanese, and North Korean nationals who haven’t spent the last ten years outside their home countries are now ineligible to apply for Dominica’s CIP.
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Opposition MPs had also insisted on removing a legal provision that would ensure the concealment of CIP-applicants’ identities.
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Vanuatu, itself a CRS signatory member, has in the past struggled to fully meet its obligations due to the absence of a TIN system, writes James Harris.
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The government, however, says it will propose a further extension of the moratorium, one that could last until 2021 if approved by parliament.
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The administration hopes to renew the program before it expires to avoid a gap in IIP-revenue. Real estate investment amounts may rise in MIIP 2.0.
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The happy news comes just as Portugal’s SEF reports the program has passed the historic EUR 5 billion revenue milestone.
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Opposition lawmakers say no CIP applications submitted after January 31st can be considered until government presents new regulations in Parliament.
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“We need to be prudent and see what – if anything – happens and then take appropriate measures,” a senior attorney specializing in the program tells IMI.
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A change in the citizenship law could have a significant impact on the investment migration market, but not in the way you might think.
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But agents question whether anyone will actually get to enjoy those elevated commissions, considering the high case volumes they would require.
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Mendes, leader of the Socialist bench, said her party would do away with golden visas for hotspots Lisbon and Porto in favor of less developed regions.
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The Cypriot Foreign Minister has told local press he expects new developments this year with regards to a visa-waiver agreement with the United States.
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“This is another step in further professionalizing our industry and harmonizing standards globally,” says Bruno L’ecuyer in an email to IMI.
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Montenegro’s Citizenship Act had a critical inadequacy; it did not allow those minors, or even adult dependents, to obtain citizenship by investment.
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