For Sovereign Individuals and Their Advisors
The new program has a single qualifying option: A fund that will invest in the coconut oil sector to reduce Vanuatu’s reliance on fossil fuels.
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Was the Wailian case really only about capital controls? Assuming so is to engage in “magical thinking,” writes David Lesperance.
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The Home Office said the changes would have immediate effect to prevent “a wave of travelers” from the affected countries.
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Vanuatu’s CBI revenue has cratered since the loss of Schengen. A commission has been formed to find out what went wrong – and who is to blame.
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The government will appoint a single Master Agent to market the world’s only sub-US$100,000 (technically speaking) CBI option globally.
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Martin St-Hilaire and Philippe May suggest Vanuatu give up trying to meet the EU’s ever-shifting demands and focus, instead, on the mass market.
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Vanuatu will actively involve the EU in the process of reforming its citizenship by investment programs to Brussels’ satisfaction.
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Ukraine, whiplashing post-pandemic demand, Portugal’s golden visa crisis, and a host of price changes made for a highly eventful year.
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The EU Council is extending the visa-waiver suspension to non-CBI citizens of Vanuatu, citing a “lack of progress” in addressing concerns.
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Grenada’s CIU seeks a new CEO, while the Chairman of Vanuatu’s Citizenship Commission has been given leave.
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Q2 was the lowest-grossing quarter in four years for citizenship by investment in Vanuatu. And it’s likely to get considerably worse.
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It now remains to be seen whether the remaining non-EU Schengen countries – Norway, Lichtenstein, and Iceland – will follow suit.
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The visa-waiver suspension will last until at least February next year, at which point the EU will re-assess the country’s CBI programs.
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40 years have passed since countries first began selling citizenships. See our timeline of the history of citizenship by investment programs.
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In a “Hail Mary” effort to ward off the suspension, Vanuatu is establishing a national task force to review and improve its CBI procedures.
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By attacking CIPs in small, defenseless countries with no allies, EU politicians rack up PR points at zero cost, writes Martin St-Hilaire.
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“I do not see any way to please the EU other than stopping the whole program,” says St-Hilaire, while Harris thinks it’s not over yet.
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Vanuatu’s worst-case scenario becomes a reality as the European Council decides to revoke visa-free travel to the EU.
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Philippe May and Martin St-Hilaire ask: Would it be the end of CBI in Vanuatu? Would a price cut be in order? Where would demand come from?
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Nuri Katz calls CBI vetting “the best due diligence known to man.” He also takes part of the blame for the industry’s failure to effectively lobby Brussels.
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