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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“We cannot expect businesses to keep all their profits when things were going well and now expect taxpayers to completely make good for them.”
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As Western-EU politicians fret over the hypothetical risks of citizenship by investment, their counterparts farther east are selling passports for bribes.
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The Home Office saw 52% YoY growth in Turkish Businessperson Visas in 2019. Brexit’s releasing the UK from its Ankara Agreement obligations has something to do with it.
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Figures from Spain’s Ministry of Labor shows the country’s golden visa program approved a record 1,422 main applicants in 2019, up from 1,188 last year.
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One novel development was apparent, though; for the first time since records began, Chinese investors were not the leading applicant cohort.
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Application data for Turkey’s citizenship by investment program, as reported by the government, defy belief; nearly 25,000 new citizens in 17 months.
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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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As Turkey’s Ministry of Interior grants visa-free travel to another six European countries, the expected visa-waiver agreement with the EU moves closer.
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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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While stakeholders in other investment migration countries promote their programs actively, the Spaniards don’t. Why, then, are they still so succcessful?
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Moldova can no longer extend the moratorium on their CIP. By Thursday, Parliament must either resume the program or be in breach of contract.
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The 35 Chinese applicants demand an immediate granting of their visas, compensation, and the bringing to justice of the responsible bureaucrats.
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The family have now more than doubled their travel freedom, from an original 61 visa-free destinations on their Egyptian passports to 134 today.
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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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