IM People in The News

Expects “At Least One New Caribbean CIP” By 2025: Investment Migration People in the News This Week

Investment migration people in the news this week included:

  • Jessica Meng of Precision Migration
  • James Hall of ANZ Migrate
  • Richard A. Nixon of the Kalypso Marketing Corporation
  • David Lesperance of Lesperance & Associates 
  • Thomas Scott of Henley & Partners
  • Ariana Meiler Gruber of New Madrid
  • Rod Jamieson of Lucas Fox
  • Paula Schmid Porras
  • Joana Mendonça of Global Citizen Solutions
  • Jean-François Harvey of Harvey Law Group

South China Morning Post – Australia stops ‘golden visa’ scheme, aims to draw ‘exceptionally talented migrants’

“While I somewhat support the closure of the programme as it has been widely exploited, the way the government handled this has been appalling,” said Jessica Meng, a business migration specialist at advisory firm Precision Migration. “The changes to the programme have been communicated piecemeal, lacking clarity.”


“This means an 18.5-year wait for those at the end of the 18,500-place queue,” migration agent ANZ Migrate’s James Hall said.


“What can be gleaned from all of this … is that [Australia] doesn’t want those applications and hasn’t decided what to do with them. I would guess the refund approach is to see if this can significantly reduce the queue size and then decide what to do with the rest.”


“It contrasts significantly with New Zealand, who made changes to abolish their investor visa … but they communicated everything clearly at each step and provided information in advance. For Australia, it’s quite the opposite. We have not been updated and have to glean information from public statements and comments.”

Business Standard – Antigua to Grenada: Property purchases here can serve as passport to world

Thomas Scott, Group Head of Real Estate at Henley & Partners shares insightful details about such investment programmes:


The Antigua and Barbuda Citizenship by Investment Program grants citizenship in just three to four months for a USD 200,000 ( Rs 1,66,99,360.00) investment in an approved real estate project. This translates to visa-free or visa-on-arrival access to roughly 150 destinations, including powerhouses like Hong Kong, Singapore, the UK, and Europe’s Schengen Area.


The Costa Rica Residence by Investment Program allows international investors to become residents and access the country’s business-friendly environment for a USD 150,000 property purchase.  Second-home buyers are drawn to Costa Rica’s proximity to the USA, favorable tax policies, and high-quality healthcare system.

Frontier Myanmar – The secret life of a Myanmar arms dealer in Dubai

In December 2020, six months after becoming a Grenadian citizen and less than two months before the Myanmar coup, Naing Htut Aung granted his power of attorney in Grenada to the Kalypso Marketing Corporation, one of dozens of companies that facilitate CBI in Grenada, according to a legal document seen by Frontier. The company’s CEO and director, Mr Richard A. Nixon, accepted the appointment as the “attorney-in-fact”.


Mr David Lesperance, a leading international tax and immigration advisor specialising in CBI, explained that it’s “standard operating procedure” for individuals to hand their power of attorney over to a local agent or company during the citizenship application process to facilitate the transfer of funds and navigate the local bureaucracy. However, he said it’s less common to hand over power of attorney after becoming a citizen.


“This power of attorney sounds like he got citizenship and then decided he wanted a company,” said Lesperance. “You would need that power of attorney to go to the bank and open up a bank account and rent an office space.”


Responding to Frontier by email through a representative of Kalypso Marketing, Nixon denied that the company assisted Naing Htut Aung in becoming a Grenadian citizen, despite offering two CBI investment options. Kalypso Marketing did not respond to Frontier’s requests for comment. 


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“The first thing the government can do is cancel the passport, but you are still a citizen. A citizen is a status and a passport is a travel document of a citizen,” said Lesperance. “Taking away the passport is fast, immediate and has ramifications for the individual, but taking away their citizenship has to be done pursuant to the law of that jurisdiction.”

CCN – Alexey Pertsev: Details in Full as Court Jails Tornado Cash Developer for 64 Months

Top crypto lawyer David Lesperance told CCN that Alexey Pertsev’s case breaks ground in two significant ways.


“First, is creating a money laundering tool (i.e. Mixer) the same as actually money laundering? This is analogous to whether it is a crime to create a tool which among its uses would be safe cracking is equal under the law to actually safe cracking? The second major issue arises if the judges decide that the creation of a tool that could be used for safe cracking tool is equal to the criminal act of safe cracking. They will then need to decide whether someone who participated in the open source creation of that tool has sufficient “ownership” of its resulting creation to be criminally liable?”

Mansion Global – Spain’s Sunsetting Golden Visa Scheme Could Give the Luxury Market a Short-Term Boost

“We’ve had new clients approaching us since Spain’s announcement,” said Ariana Meiler Gruber, a real estate agent with the New Madrid. “Right now, it could be a positive for the market.”


Rod Jamieson, a broker with Lucas Fox International Properties based in Barcelona, attributes it to Spain’s low cost of living, sunny weather and rich history.


“Demand for the Spanish property market by international investors has been high for several years and continues to grow each year, thanks to Spain’s high quality of life,” he said.


“The actual number of transactions involving this golden visa scheme has been very low since it was introduced 10 years ago,” Jamieson said. “There’s been little impact on either supply or pushing up market prices.”

The Christian Science Monitor – ‘Golden visas’: Europe tightens residency rules for the rich

​​“It’s not the end of the golden visa,” says Paula Schmid Porras, a Spanish immigration lawyer and professor of law at the University of Seville. Applicants in Spain, for example, can still qualify by investing in sectors the government is seeking to encourage. “If you’re poor and an immigrant, it’s difficult” to earn residency in Spain and other countries, she adds. “But if you’re rich, you have a red carpet.”


Those types of programs make a difference “for the progress and development of that country,” says Joana Mendonça, head of the legal department at Global Citizen Solutions, an investment migration firm.


“The ability to move around the world and to travel and to seek the best place for one to settle – I think this is something we should facilitate,” she adds. Yet she acknowledges that “not everyone is able to invest that amount of money.”

Financial Express – Caribbean Citizenship by Investment Programs: Ways to invest and key features of CBI schemes

Jean-François Harvey of Harvey Law Group explores the intricacies of CIPs in an article on the Financial Express.

The global investment immigration market is set to grow into a $100 billion (USD) industry by 2025, and at least one new Caribbean Citizenship Investment Program (CIP) is expected to open by 2025 as well.


In 2019 alone, $21.4 billion (USD) was raised through investment immigration programs (reported by the IMI Data Center). This shows the strength and growing interest in the investment migration market.

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Ahmad Abbas AdministratorAuthorSubscriberParticipant
Director of Content Services , Investment Migration Insider

Ahmad Abbas is Director of Content Services at Investment Migration Insider and an 8-year veteran of the investment migration industry.

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