The Investment Migration Council (IMC) has announced, in a letter its members, that it will be its IMC Education & Training program very soon.
“[…] we will be launching IMC Education and Training imminently. Establishing a framework of certification and accreditation will demonstrate the transparency and responsibility to which our industry must adhere,” writes the IMC’s chief executive, Bruno L’ecuyer.
IMI has been a long-time advocate for an endeavor of this type; see: Chartered Investment Migration Practitioner – The IM Industry Needs a CFA-Equivalent.
In fact, the IMC appears to be echoing precisely the points we’ve previously called for. In August 2017, IMI wrote:
“The investment migration industry attracts a lot of sharks, and it’s easy to see why. How many unregulated industries can you think of that
- Deal with this much capital on a daily basis?
- Handle this much sensitive information, which could be used by the unscrupulous to extort money from HNWIs half a world away?
- Have this much sway over senior government officials?
- Involve opaque and convoluted processes that can easily be employed to confuse and exploit clients?
Imagine potential immigrant investors asking service providers “Are you CIMP-certified?” before even considering their services. Imagine companies like Henley & Partners, Arton Capital or Harvey Law telling their managers they needed Level 2 CIMP-qualifications to be considered for promotion to senior management.”
Echoing our writings from 2017, L’ecuyer writes:
“How many unregulated industries can you think of which store sensitive data, deal with government officials and control the international flow of capital?[…]
Imagine potential immigrant investors asking service providers “Are you certified?” before even considering their services. Imagine your companies telling potential recruits they need a diploma in IM to be considered for management positions.”
The new education program, explains L’ecuyer, will lead to professional status within the IMC and is the first course to address the need for competence and standard-adherence on the subject of global investment migration programs.
The IMC’s CEO notes also that the training scheme will make it easier for industry firms to recruit qualified staff, as well as help them save resources on instruction for their employees. The program, furthermore, will be accredited by “a respectable UK university”, adds L’ecuyer.
See more details on the upcoming education program here.