The CBI/RBI industry has seen some dramatic changes residence and citizenship programs during the year 2018.
The Citizenship by investment industry is seeing a rapid growth year by year and the demand for second passports just keeps on increasing and the investment migration industry expected to hit $20 billion by 2020. There are over 550 firms serving the RCBI industry. US , Canada and Australia are the most popular countries for investment among HNW migrants wanting a better education for family and preserving their wealth investing in a stable country offering high standards of living. According to a survey one-third of rich, already have a second citizenship and passport and another one-third are considering it in their investment portfolio.
Wealthy chinese have dominated in 80% in most of the immigrant investor schemes running the world followed by Russians. Wealth is moving across continents through immigrant investor schemes.
The following are the latest updates for 2018 for golden visas and citizenship and residence by investment programs.
Citizenship by Investment
St Kitts and Nevis introduced Sustainable Growth Fund in 2018 with contribution requirement of $150,000. St Kitts and Nevis signed visa waiver agreement with Russia and Indonesia and several other countries in 2018 such aserbia, Montenegro, Moldova, Belarus making its passport more valuable and more access to visa free countries. St Kitts passport tops the Henley 2018 Passport index among caribbean CBI programs. St Kitts also cuts real estate investment for CBI to $200,000 and property must be held for seven years.
Turkey launched CIP in 2017 and gazetted the citizenship by investment scheme in 2018. Invest Turkey announced new reduced prices by 75% for its citizenship by investment program which requires $250,000 in real estate and $500,000 in Government bonds or businesses.
Antigua and Barbuda slashed its NDF prices by 50% Limited time offer to just $100,000 from $200,000 after Barbuda was destroyed by Hurricane seeking money for recovery efforts. Antigua also lowered the processing fee for the real estate and business investment option for a family of four to US$50, 000. Canada revoked visa waiver agreement of Antigua and Barbuda in 2017, citing its concerns with the CBI programme. Antigua further announced Bitcoin and other cryptocurrencies accepted for citizenship by investment scheme including payments in EUR and GDP (proposal still in pipeline).
Saint Lucia announced amendment to its CBI program removing limit of applications and lifting the $3 million asset requirement. The qualifying investments for single application under National Economic Fund is $100,000 and $165,000 for Family application.
Dominica contribution remains the same at $100,000, but Dominica announced cut due diligence fee, processing fees, naturalization fee, and also increased age limits for dependents and grand parents until March 2018, making the process easier. Dominica announced no government discounts for CIP.
Grenada reduced its investment contribution to $150,000 for NTF Single applicant. No changes in the family option or real estate. Grenada also increased the age of dependent children (26 to 30) and grand parents (55 to 65) making the application process easier. Grenada also signed visa waiver agreement with Russia, UAE
Malta Individual investor program will be extended once the 1800 cap is reached. The IIP scheme requires around EUR 1 million euros investment to get Maltese passport after 1 year. Approximately 900 families received Malta passport under the IIP scheme and IIP scheme has brought one billion euros to Malta. IIP Agency boss IIP risk matrix one of the best due diligence process for screening of applications.
Cyprus announced it limiting citizenship by investment program to 700 applications annually and will enforce rules to limit promotion of the program. The minimum investment for citizenship in cyprus stands at EUR 2 million euros. Cyprus also has a golden visa scheme. New CIP registry of authorized service providers also announced.
Moldova opened new citizenship by investment scheme in Nov 2018. Foreign investors and families eligible for citizenship by contributing $100,000 plus fees to Public Fund. Moldova is a candidate country for EU membership and has E-2 visa treaty with US.
Vanuatu announced the prices cut prices by 30%, to $160,000. The Government announced no real estate option attached to citizenship by investment scheme and bitcoin will not be accepted by government. There is no real estate option.
Montenegro will accept applications for economic citizenship program from Jan 2019. Investment conditions are EUR 250,000 real estate investment plus EUR 100,000 state fee plus other fees in underdeveloped areas. Montenegro is expected to join EU by 2025 and may also join Schengen area. Montenegro also has E-2 visa treaty with US.
Samoa requires USD 1.5 million investment in the country on real estate, energy, technology industries to qualify for citizenship with permanent residence. Samoa passport has visa free travel to Canada, UK, Europe etc.
Bulgaria requires EUR 1 million investment in government bonds or securities. Foreigners qualify for citizenship within 18-24 months. Bulgaria offers full EU citizenship and has visa free travel to Canada, United Kingdom etc.
Residence by Investment (RBI)
Anguilla announced opening of a new ARBI residence by investment scheme. The first phase of scheme begins on Nov 1, 2018 and investors who by $750,000 real estate can qualify. Donation option also available.
Italy opens investor visa scheme. The scheme requires EUR 500,000 in startups or 1 million in Government bonds or enterprises
Portugal golden visa scheme requires EUR 350,000 property investment or EUR 500,000 in Lisbon Golden visa investment exceeded EUR 4 billion euros in 2018. Property prices rising steadily in Lisbon and surrounding areas. Portugal amended law to reduce citizenship time to five years from six (spanish speaking countries)
Spain requires EUR 500,000 property investment to receive a golden visa. Spain is most popular among russians buying properties in Barcelona, Madrid and Costa del Sol.
Greece golden visa scheme soars becomes the most popular scheme in Europe. Greece requires EUR 250,000 has become biggest and most popular golden visa schemes in Europe. As of 2018, over 3400 residence permits issued for property buyers since 2013 according to migration office. The property prices in Greece remains low attractive for real estate buyers. Piraeus and Athens are the most popular locations to buy property. Greece also plans to introduce EUR 400,000 Government bond and bank deposit options.
Latvia introduces government bond option (EUR 250,000 plus state fee) for its golden visa scheme. Currently Latvia is the cheapest golden visa scheme in Europe requiring EUR 100,000 business investment to receive temporary residence permit.
Malta residency visa scheme amended to include stocks and government bonds /securities listed in Malta stock exchange. Investors who buy government or company stocks for EUR 250,000 receive a permanent residence permit in Malta. Over 1000 applications received coming at 50 to 60 per month.
Thailand received record number of applications for its elite visa scheme. It is the cheapest residence program in Asia costs $15,000 to receive a five year visa.
Malaysia received over 1 million applications for its MM2H my home program. The scheme requires $120,000 in liquid assets plus $10,000 income per month to receive residence status in Malaysia
Jordan offers permanent residency to foreigners who buy $250,000 in real estate. Citizenship after five years to those who invest excess of $1 million to Government Securities/Bonds, Bank deposit or Enterprises.
Canada increases the investment to $1.2 million for Quebec immigrant investor program. The total net assets also increased to $2 million
Ireland announces minimum investment for immigrant investor scheme is EUR 1 million and no debt or loans permitted.
United States EB-5 is extended further and the minimum investment remains at $500,000. US EB-5 is the most popular immigrant investor schemes in the world. The wait times for chinese are 12-15 years to receive a green card. The I-526 petitions declined in 2018 due to fraud and long wait times.
New Zealand is the most popular investor destination for very wealthy or UHNW americans and chinese. NZ attracts ultra high net worth investors through investor visa scheme N$ 3 million – N$15 million
United Kingdom tier1 investor visa scheme to be tightened for 2019 with more regulations. The Government bond option will be removed from 2019 and entrepreneur visa scheme will be replaced with a new scheme. Currently UK requires £2 million for tier1 investor visas and £200,000 entrepreneur visas for foreigners
Netherlands has official investor visa scheme requiring EUR 1.2 million invested in investment funds or dutch enterprises. Family and investor receive dutch residence permit and citizenship after five years of living.
Singapore offers The Global Investor Program (GIP) has been designed for investors who are interested in starting up a business or investing in Singapore with a minimum investment of SG$ 2.5 million.
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