Grenada Publishes Sweeping Amendments to its Citizenship by Investment Act

Grenada’s government has just published a wide set of amendments to its Citizenship by Investment Act of 2013. No citizenship by investment program has undergone a more comprehensive transformation in the last six months than that of Grenada: In September last year, the program hired a new head for its CIU – Thomas Anthony. In

Read more

Developers Promoting Grenada’s New Price Option Without Prior Approval Subject to Penalties, CIU Warns

Following the introduction of its US$220,000 real estate co-investment solution on March 18th, the Grenada CIU reiterates that the new price option is only available to developers that have received advance written approval, and cautions that those found to promote the new price prematurely will be subject to review and possible penalty.

Read more

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

Read more

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

Read more

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

Read more

Price of Turkey’s Citizenship by Investment Program Cut to $250,000

According to an Official Gazette (in Turkish), new prices are now in effect for the Turkey citizenship by investment program.  The minimum investment necessary to qualify for citizenship is now US$250,000, down by three quarters from the initial minimum requirement of $1 million. Investors may choose from a variety of options, including real estate, bank deposits,

Read more

UAE Announces Golden Visa for Retirees

In a significant policy shift, the United Arab Emirates (UAE) will allow existing foreign residents (above the age of 55) to obtain extended residency visas after they retire, Bloomberg reports. The new law, which will come into effect in 2019, is intended to boost the economy and nurture the long-term growth of the oil-rich nation.

Read more

Bowing to Market Forces: Turkey to Cut CIP-Price From $1 Million to $300,000

Having at first wildly overestimated the relative value of its nationality, Turkey now appears to have come to terms with market realities and is poised to drastically cut the asking price for its citizenship by investment program (CIP). First launching in 2016 at a starting price of US$1 million for real estate investments with a

Read more

Breaking: Saint Kitts CIP Announces New Prices for Both Real Estate and Contributions

Following weeks of speculation as to where the Saint Kitts & Nevis Citizenship by Investment Programme contribution price would fall once the Hurricane Relief Fund option ends later this month, as well as a series of consultations between government and property developers discussing the relative competitiveness of the real estate investment option in the country,

Read more

Saint Kitts CIP Reduces Govt. Fees on Real Estate in Response to Developer Concerns

The government of Saint Kitts & Nevis has reduced the fees it charges applicants investing under the real estate option of its citizenship by investment program. A family of four are now charged US$75,000, rather than the US$125,000 it previously charged a typical family (US$50,000 for the main applicant, US$25,000 for a spouse and US$25,000 for

Read more

Grenada Cuts Price for Citizenship, Removes Contribution Requirement For Parents

As announced by Chairman of Grenada’s Citizenship by Investment Committee, Kaisha Ince, during the 11th Global Residence and Citizenship Conference in Hong Kong last week, the Grenada Citizenship by Investment Programme (CIP) will see some significant changes before the end of the year. Chief among them is the lowering of the contribution requirement for a

Read more

Pressed by EU, Canada Grants Visa-Free Travel to Bulgaria and Romania

Canada will hand a major boost to the value of Bulgarian and Romanian citizenship on December 1st this year, when passport holders of the latter two countries will at last be able to travel to the former on an Electronic Travel Authorization (eTA), a privilege long enjoyed by other EU citizens, reports passportindex.com. The early

Read more