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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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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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 without a visa, and vice versa, according to reports in the Daily Post. The PM said citizens of both China and Vanuatu would “soon” be able to visit each others’ countries without arranging a visa

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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 archipelago state – will no longer be “honorary citizens”. Whether they will now have the right to political participation remains unclear. Speaking to IMI during the Investment Immigration Summit in Dubai today, James E. Harris, Managing

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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, Cypriot authorities have decided to add on a requirement for mandatory contributions amounting to 150,000. The Ministry of Finance reports that total revenues from the program since inception amount to €6.6 billion. Mandatory donations Applicants

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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 a lack of interest from investors and dubious economic benefit to the country as their motivations. “The data shows that the aim to increase real foreign investment and economic development has not been achieved. As

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Antigua PM to IMI in Davos: CIP to Accept RMB Payments “Within 30 Days”

Asked to comment on a bill passed in Antigua & Barbuda’s parliament this summer, which opened for the payment of investments under the CIP by way of euros and cryptocurrencies, PM Browne noted that interest in alternative payment methods had not been significant, a state of affairs he attributed to a lack of awareness of

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Greek Govt. Moves to Close Loopholes: No More POS Payments for Golden Visa

Christian NesheimEditor   No more POS sales, no more re-selling property to multiple golden visa participants. The Greek government is moving swiftly to close loopholes. The Greek government last week put forward amendments in Parliament that aim to prevent what they consider abuse related to the country’s residence by investment program. Measures include a ban

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Montenegro CIP Opens Applications for Agents, Due Dil. Firms: Deadline is 28 Days Away

The government of Montenegro today announced it will be accepting applications from prospective intermediary agents, as well as due diligence companies, for its new citizenship by investment program. Prospective service providers must lodge an application by February 1st. Originally slated for a premiere in October 2018, Montenegro’s new CIP – technically named The Special Investment

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Saint Kitts Raises Cost of Switching Between Investment Options to $25,000

Prime Minister Timothy Harris of Saint Kitts & Nevis has announced, in a circular to agents, that he is amending the rules for switching applications between the real estate investment and donation options under the country’s Citizenship by Investment Programme. Switching between options will henceforth cost US$25,000, up from the previous US$10,000. The move comes

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Saint Kitts CIU to Instate Real Estate Escrow: Payouts Contingent on Developers Actually Developing

The Saint Kitts & Nevis Citizenship by Investment Unit reports it has been consulting with developers over new regulations in a bid to prevent improper promotion and procedures related to the program’s real estate option. The developers, said the CIU, had pledged to ensure that their promotion of real estate would reflect the statutory requirements

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Bipartisan Consensus on Naming of Malta IIP Citizens Despite Regulator’s Concerns

Although generally not accustomed to unanimity, both Malta’s governing party – Labour – and the opposition – the Nationalist Party – agree that the government should continue its practice of publishing the names of new citizens in its annual Gazette, despite agents’ recommendations to the contrary and the program regulator’s apprehensions about the policy, reports

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