[Tail Gunner]

You may recall from my first post that the London-based Financial Times launched the first annual comprehensive review, and ranking, of the world's available citizenship by investment programs. The Financial Times just released its second annual CBI report. Since last year, Coromos has dropped its CBI program while Jordan and Turkey have added their own CBI programs.

For some reason, I cannot download the two summary charts, which are contained on pages 21 and 23 of this this 36-page document.

http://cbiindex.com/wp-content/uploads/2...x-2018.pdf

___________

BTW: If anyone is still wondering why it pays to obtain a second citizenship here is the latest news from South Africa, which is on its march towards becoming the next Venezuela or Zimbabwe:

Quote:

A few weeks ago I had a good rant about the “land expropriation” thing that is the talk of the town in South Africa… and how it is ultimately going to lead South Africa down the garden path of no return (economic destruction).

This week I want to talk about the state of play with mining in South Africa and the long-term consequences of the “mining charter”.

Now, let’s play make-believe. Pretend you are the CEO of a large mining conglomerate with operations in South Africa, and you’re considering deploying more capital to expand operations or buying an asset/exploration licence in South Africa. Now read this:

The essence of the new Mining Charter:

Ownership

A new mining right must have a minimum of 30% Black Persons’ shareholding, with the 30% shareholding to be apportioned between employees, communities and entrepreneurs in a specific manner
A minimum 8% shareholding is allocated to mine communities, to be held through a trust
A minimum 14% shareholding must be to black entrepreneurs

Annual Turnover

Holder of a mining rights must pay 1% of its annual turnover to the 30% black persons’ shareholding prior to, and over and above any distributions made by a Holder to its shareholders

This 1% payment is always subject to the solvency and liquidity test as provided for in the Companies Act but is not negotiable under any other terms.

Procurement

The Charter requires 70% procurement of mining goods and 80% procurement of services from BEE entities (Black empowered entities); it also requires that analysis of 100% of mineral samples be done by South African based companies. This is mandatory and in place no matter how incompetent or expensive these protected companies services may be.

Employment Equity

At board level, a minimum of 50% black representation, 25% of which must be both female and black.
At executive/top management level, a minimum of 50% black representation, 25% of which must be both female and black
At senior management level, a minimum of 60% black representation, 30% of which must be both female and black
At middle management level, a minimum of 75% black representation, 38% of which must be both female and black
At junior management level, a minimum of 88% black representation, 44% of which must be both female and black

Human Resource Development

A holder must invest 5% of the leviable amount on essential skills development.

Now, wouldn’t you, being the CEO of that mining company, be inclined to think:

Bugger that, it’s all way too hard and just not economically viable!

In any event, why should I have to pay away 30% of what I invest in South Africa to someone who never lifted a finger to earn that money? And what guarantee is there I don’t have to pay more away in a few years from now? After all, they keep changing this mining charter each year and it just gets exponentially worse with each passing year.

Also, where am I going to get qualified people from, and what do I have to pay for them, to fit the “Employment Equity” requirements? I’m way better off investing more capital in Australia, Indonesia, South America, Canada, or even the rest of Africa!

This is certainly what I would be thinking if I was that CEO. It’s not a decision based on feeling sorry for “previously disadvantaged” peoples. It all comes down to economics.

This mining charter will eventually lead to South Africa becoming a mining backwater, a shadow of its former glory.

Even the average village idiot could tell you that the South African mining industry is going to follow a slow and painful decline with the “irony” that the very people that the mining charter is purportedly going to “empower” will be those worst affected, along with all the businesses surrounding this industry and, in turn, those businesses surrounding the mining service businesses. In short, the whole of South Africa.

https://capitalistexploits.at/2018/08/le...e-believe/

[Jefferson]

The London based Financial Times should do its homework properly. You can also get a Cayman Islands passport after you invest, you just need to get naturalized after you get permanent residency. Why Cayman Islands is not on the list but Antigua et al are is anyone's guess.

[Tail Gunner]

(08-22-2018 05:01 PM)Jefferson Wrote:  

The London based Financial Times should do its homework properly. You can also get a Cayman Islands passport after you invest, you just need to get naturalized after you get permanent residency. Why Cayman Islands is not on the list but Antigua et al are is anyone's guess.

It fails to list the program for the same reason that it does not list Portugal, Spain, the United States, Canada, and many other countries which offer residency by investment programs, which can also lead to citizenship.

Granted the difference is somewhat blurry, but there is a difference. In most of the citizenship by investment programs you do not need to actually live in the country to gain citizenship. The country just wants your money. Nor do you necessarily need to learn the language.

[BaatumMania]

If you're a super rich Australian, British or Canada then buying a Maltese citizenship seems appealing if you want unlimited access in Europe. But nevertheless, in terms of raw numbers, most western expats (even rich ones) don't bother with buying citizenship. There might be utility if you're a rich Chinese who wants out though.

[The Natural]

(10-17-2017 06:44 PM)Tail Gunner Wrote:  

Rumor has it that Montenegro, Georgia, and Kazakhstan are working to create citizen by investment programs -- and that several other countries in the Balkans are also considering such programs. A recent CNN article mentions these facts and provides a good overview of citizen by investment programs and how they work.

http://www.cnn.com/travel/article/multip...index.html

Montenegro’s Citizenship’s by Investment Program will be released in October. I work this field so feel free to ask me any questions.
Here is some inside knowledge on the Investment requirments:

Program Investment Features:

Investment 1: Government Funding In addition to € 100,000,

Investment 2a: € 250,000 invested in an approved property in a less developed region (north of the country) or

Investment 2b: € 450,000 investment made in an approved property in a less developed region (south of the country).

The initial investment is determined as the sum of minimum government funding and real estate investment of € 350,000.

[The Natural]

Hey Guys,
I am involved in the Citizenship by Investment Industry, if you have any questions on any of the programs just let me know. I personally promote the programs show below.

Citizenship
Europe- Cyprus, Malta & Bulgaria (Montenegro & Moldova soon)
Caribbean- Dominica, Grenada, Antigua & Barbuda, St. Lucia & St.Kitts & Nevis.
North America- EB5, Canada

Residence
Portugal, Greece, US (EB5), Cyprus & Malta (Spain soon)

[Tail Gunner]

(08-23-2018 06:37 PM)The Natural Wrote:  

Montenegro’s Citizenship’s by Investment Program will be released in October. I work this field so feel free to ask me any questions.

Here is some inside knowledge on the Investment requirments:

Program Investment Features:

Investment 1: Government Funding In addition to € 100,000,

Investment 2a: € 250,000 invested in an approved property in a less developed region (north of the country) or

Investment 2b: € 450,000 investment made in an approved property in a less developed region (south of the country).

The initial investment is determined as the sum of minimum government funding and real estate investment of € 350,000.

-- Is Investment #1 simply a 100,000 Euro donation to the government?

-- Regarding Investments #2 and #3, must the entire investment sum be placed in just one property (which is a big problem in some CBI programs) or can you buy multiple properties?

[BaatumMania]

Montenegro is probably banking on the "we might be in Europe in 20 years" game and trying to appeal more to Chinese and the like.

But my understanding is if you want to chill in Montenegro (without caring for citizenship) then they still give you a temporary renewable residency after you buy real estate. Thing is the only person I know who publicly talked about it was Andrew Henderson and he pretty much left Montenegro to go live in Georgia.

[Tail Gunner]

Here is a good article that discusses the various citizenship by investment and residency programs (twenty-three in all) and provides a summary of the criteria for each program. It also provides a very simple and accurate explanation of the fundamental differences between the two types of programs.

Honestly, I have trouble understanding why people conflate citizenship and residency, because the difference really is quite stark. Citizenship provides you with permanent legal rights, while residency provides only temporary rights subject to the constantly changing whims of a government.

Quote:

Katz explained there's a difference between CIPs and residency programs.

"Citizenship is forever, and cannot be taken away unless you received it under fraudulent circumstances," he said. "You also get a passport."

Meanwhile, as laws change, a residency visa can be taken away — but it's a more affordable way to get the perks that come along with living in another country.

https://www.businessinsider.com/countrie...ort-2018-9

[jking73]

If your Jewish Israel give you a passport in 3 months and pay YOU for it. The passport lets you into Brazil and Russia without a visa and the countries that don't allow you most likely are camel fracking places you wouldn't wanna go to anyway.

[Tail Gunner]

More information on Montengero's CBI program:

Quote:

"Interested investors will be able to invest 250,000 euros in one of the development projects in an underdeveloped area or 450,000 in a developed region, previously approved by the Government. A fee of up to 100,000 euros will be charged upon request and directed to a special fund for underdeveloped areas," the government said earlier.

http://www.total-montenegro-news.com/bus...montenegro

http://www.total-montenegro-news.com/bus...he-balkans

Montengero is hoping to raise $1 billion over three years through its CBI program.

[Bikal]

A bank I used in Latvia has recently gone quiet about the CIB/VIB opportunities they had, with Brexit coming up and the high possibility of ending up without good access to the EU, I'm interested in sorting it out sooner rather than later.

Have they stopped offering the programme or is it just that requirements have changed as it used to be as low as 70.000€ but not sure what it is now.

[Caduceus]

Has anyone here ever bought citizenship (new passport) from one of the small caribbean countries like Dominica, Saint Kitts & Nevis, Grenada , Saint Lucia or any of the other islands that cost between 100,000 to 300,000 USD ?

If you have the cash and already have EU and or US/Canadian citizenship it seems like the most easy one to go for.

No language tests or even residency required to get the passport.

[Seth_Rose]

(10-16-2018 01:26 PM)Tail Gunner Wrote:  

More information on Montengero's CBI program:

Quote:

"Interested investors will be able to invest 250,000 euros in one of the development projects in an underdeveloped area or 450,000 in a developed region, previously approved by the Government. A fee of up to 100,000 euros will be charged upon request and directed to a special fund for underdeveloped areas," the government said earlier.

http://www.total-montenegro-news.com/bus...montenegro

http://www.total-montenegro-news.com/bus...he-balkans

Montengero is hoping to raise $1 billion over three years through its CBI program.

I don't think Montenegro's program is going to go as well as they hoped. Nearly all of the CBI programs hire outside consultants to run their programs. Moldova, which is just launching their program did, and are in much better shape than Montenegro.

Check out this article:

https://www.imidaily.com/program-updates...-on-track/

[Going strong]

Alternatively, one might "invest" ten times less money with the right people in Bulgaria (a lawyer, plus say a well-connected intermediary and a couple of mid- to high-ranking Bulgarian public employees), and get citizenship within one year. Or so I heard

What is certain though is that many people (Russians, Ukrainians mostly) flock to Bulgaria to get residency (in the EU). It's cheap, relatively easy. Citizenship on the other hand, and as explained above by TailGunner, is much more difficult to obtain through classic channels.

[Tail Gunner]

(10-17-2018 06:52 PM)Seth_Rose Wrote:  

(10-16-2018 01:26 PM)Tail Gunner Wrote:  

More information on Montengero's CBI program:

Quote:

"Interested investors will be able to invest 250,000 euros in one of the development projects in an underdeveloped area or 450,000 in a developed region, previously approved by the Government. A fee of up to 100,000 euros will be charged upon request and directed to a special fund for underdeveloped areas," the government said earlier.

http://www.total-montenegro-news.com/bus...montenegro

http://www.total-montenegro-news.com/bus...he-balkans

Montengero is hoping to raise $1 billion over three years through its CBI program.

I don't think Montenegro's program is going to go as well as they hoped. Nearly all of the CBI programs hire outside consultants to run their programs. Moldova, which is just launching their program did, and are in much better shape than Montenegro.

Check out this article:

https://www.imidaily.com/program-updates...-on-track/

Yes, Henley & Partners is the 800-pound gorilla of CBI programs. I have long suspected that the reason that Henley has a virtual monopoly on many of these economic citizenship programs is because of undue influence, both in lobbying for the creation of such programs and then by receiving any subsequent concessions for such citizenship programs by political manipulation and other unsavory means.

Read this fascinating article about citizenship by investment programs, shady passports, Cambridge Analytica, Henley and Partners, Lanny Davis, (longtime D.C. lobbyist and former special counsel to President Bill Clinton), terrorists, criminals, illegal electioneering, bribery, missing government funds, murder, etc.

https://www.fastcompany.com/40571052/how...rt-bonanza

[Tail Gunner]

There are rumors that Armenia is considering a citizenship by investment program, possibly for a $ 50,000 donation or a $ 100,000 investment of some type.

https://www.youtube.com/watch?v=jxjjldQ3...e=youtu.be

[Tail Gunner]

If you want a citizenship and have the money, then you should act on it sooner rather than latter (especially in Europe), because these programs often disappear without much notice. The handwriting may be on the wall in regard to Malta.

Quote:

TMID Editorial: Citizenship by Investment Schemes - Another IIP death knell sounded
Thursday, 15 November 2018, 09:47

The European Parliament yesterday rang yet another death knell for Malta’s manna from heaven Individual Investor Programme, with its rapporteurs yesterday calling for a phasing out of such schemes wherever they are present in the EU.

The EP’s Financial Crimes, Tax Evasion and Tax Avoidance committee, following the publication of the report yesterday, will discuss the issues raised further before taking a vote on it. After that, the European Parliament will also take as vote.

The wheels are very slow-moving indeed, but moving they are.

The European Parliament, which had voted so overwhelmingly against Malta’s IIP scheme way back when, only to have been overruled by the European Commission, is simply not letting the matter go. And that is because, to most MEPs’ minds, this is an issue that hits at the very heart of what European identity, and security is all about.

Sooner or later, push will come to shove and Malta will be forced to cancel or drastically temper the programme. That is happening, and very quickly indeed.

Yesterday’s draft report calls for the phasing out of all golden visa and citizenship schemes, as the potential economic benefits do not offset the serious money laundering and tax evasion risks they present.

It calls on all member states that have them to phase them out immediately and, in the meantime, calls on member states to properly ensure that enhanced Customer Due Diligence is carried out, as required by the Fifth Anti-Money Laundering Directive (AMLD5), which Malta has not yet signed onto yet.

It also called on the Commission to itself rigorously monitor and continuously ensure the proper implementation and application of Customer Due Diligence until they are repealed in each Member State.

The draft report would also see the MEPs calling on Member States to prevent conflicts of interest that ‘might arise when private firms which assisted the government in the design, management and promotion of these schemes, also advised and supported individuals by screening them for suitability and filing their applications for citizenship or residence’.

This appears to be a number of direct broadsides on the scheme being operated by Henley and Partners.

These findings, reading between the lines, are nothing less than a succession of slaps in the face for Malta in particular.

Hot on the heels of yesterday’s report the European Commission is expected to soon issue a report about citizenship selling schemes, with the vast majority of Europeans either taking great exception to or recoiling in horror over the prospect of one member state effectively selling European citizenship and all that comes with it to the highest bidders.

Malta is one of 10 countries in the world that allows foreign citizens to outright purchase citizenship, and the issue, with time, will not earn us any bragging rights but, rather, an anchor around our collective neck. We are being branded as a country where just about anything is for sale, even that which citizens of any country should held dearest.

According to the OECD, such schemes can be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS). Potentially high-risk schemes [such as that of Malta, which was just one of three EU member states named and shamed], the OECD said, “are those that give access to a low personal income tax rate on offshore financial assets and do not require an individual to spend a significant amount of time in the location offering the scheme”.

The OECD’s findings are bound to have ramifications, as the organisation points out, ‘Financial Institutions are required to take the outcome of the OECD's analysis of high-risk schemes into account when performing their CRS due diligence obligations’.

The Maltese government has proffered explanations and protestations but, at the end of the day, it is understood that the people at the OECD do not issue such findings on mere whims. In fact, Malta was also yellow-carded for its lax Residence and Visa Programme.

Should Malta persist in this folly until the 11th hour, and perhaps even after that, it is the country’s reputation that will suffer most, as it is already suffering, at the end of the day.

And that is something that no one can put a price tag on.

http://www.independent.com.mt/articles/2...6736199386

[BaatumMania]

I used to think Malta was a pretty cool option but then I lived in Georgia for 7 months and I was pretty satisfied there. Batumi's lifestyle is pretty close to Malta I think. It's on the water but no white sand beaches. Yeah the female situation sucked but Malta is no pussy paradise either.

But I guess if you're high 8 figures or 9 figures then Malta could be worth it.

but of course who can find Georgia on the map? Malta and Cyprus were always more famous and were using the European Citizenship as a marketing tool in their citizenship
investment programs.

But if you're internet income or a rich guy then European citizenship isn't that important so long as your current passport isn't North Korean or the Islamic Republic of Iran.

[Seth_Rose]

The appeal of the Malta CIP is access to the European Union, since Malta is an EU member-state. That is really the crux of many of these programs. It's why it's such a big deal for the Caribbean countries with CIP programs to have visa-free access to the EU.

The overwhelming majority of CIP applicants come from China, Russia, and the Mid-East. What do they have in common? No visa-free access to the EU, also more likely to be turned down when applying for visas to US and Canada.

[Coke Zero Addict]

What about obtaining citizenship through marriage?

Maybe not an EU country where they have female-oriented lax divorce laws and child support, but a 1st world Asian country like Japan, or EE and Russia.

[Tail Gunner]

(11-21-2018 09:49 PM)Coke Zero Addict Wrote:  

What about obtaining citizenship through marriage?

Maybe not an EU country where they have female-oriented lax divorce laws and child support, but a 1st world Asian country like Japan, or EE and Russia.

This is a thread about citizenship by investment programs. You are welcome to start your own thread on another topic.

[Tail Gunner]

(10-20-2018 04:21 PM)Tail Gunner Wrote:  

There are rumors that Armenia is considering a citizenship by investment program, possibly for a $ 50,000 donation or a $ 100,000 investment of some type.

https://www.youtube.com/watch?v=jxjjldQ3...e=youtu.be

More rumors regarding a potential Armenian citizenship by investment program. If the program really ends up costing only $50,000 it would likely be the cheapest such program in the world.

Quote:

According to hetq.am, Arton Capital recommended that “Armenia offer potential investors two options: a $50,000 direct contribution to a state-owned fund or a $100,000 investment in a fund run by an asset management company chosen by the government, which would offer the possibility of some return. It further suggests that Armenia sets two types of fees. The first would be a non-refundable processing fee of up to $10,000; the second fee, the amount of which is not specified, would cover background checks into applicants’ records and sources of income.”

http://asbarez.com/176329/should-armenia...investors/


Meanwhile, the St Kitts-Nevis citizenship by investment program is experiencing more problems.

https://www.caribbeannewsnow.com/2018/11...programme/

[semibaron]

Interesting thread.

Is there any citizenship by investment in Asia? if not, are there at least residency by investment?

[Bikal]

(12-05-2018 05:55 AM)semibaron Wrote:  

Interesting thread.

Is there any citizenship by investment in Asia? if not, are there at least residency by investment?

Thailand has an 'Elite' residency programme, if you look through Henley & Partners, you'll see Hong Kong, Malaysia and Singapore as well.