Articles

14 November 2017
  The United Kingdom and the European Union are currently negotiating the UK’s Withdrawal Agreement from the EU.  One of the key issues in the UK’s Withdrawal Agreement from the European Union is the determination of the rights of 3.5 million EU nationals currently living in the UK and 1.2 million UK nationals currently living … ...
14 November 2017
  Nationality of the Member State   The concept of citizenship has been at the heart of the European project from its very beginnings. The Treaty of Rome (25 March 1957) in fact already emphasises the importance of no discrimination on the basis of nationality. This meant, of course, that there was to be no … ...
14 November 2017
  Citizenship without a State   Although the EU is not a state, it boasts a citizenship like many others, established more than 20 years ago by the Treaty of Maastricht. This citizenship allows the Union to distinguish between ‘European citizens’ and foreigners, termed ‘third-country nationals’ in contemporary Eurospeak. By law, every national of each … ...
24 August 2017
The co-authors of this Citizenship by Investment (“CBI”)/E-2 Visa FAQs for Grenada recently accepted an invitation to conduct a fact-finding trip to Grenada and Barbados hosted by the Grenada Consul General to the U.S. Our meetings in Grenada included the Prime Minister; the head of the Citizenship by Investment Unit, the Minister of Labor and … ...
27 May 2017
    Proposed Regulations and Reforms   Congress has yet again extended the temporary EB-5 Regional Center program for another five months from April 30, 2017 to September 30, 2017, as part of its Continuing Resolution. Although the EB-5 Regional Center (“RC”) program was created 25 years ago by Congress in 1992, it still remains … ...
26 May 2017
  Situated in the middle of the Mediterranean, as a full member of the European Union, Malta is an ideal jurisdiction from which to do business within the EU, and also with jurisdictions situated outside the EU.  A number of international businesses have established a presence in Malta for this reason, taking full advantage of … ...
25 May 2017
  As practitioners, we are guided by our clients’ interests but also principally by the regulation and best practice standards by which we are ethically and legally bound. At times there can be disjuncture between the two, but that disjuncture is rightly diminishing. The causes of this are manifold.   The regulatory frameworks that not … ...
25 May 2017
  As we head towards mid-2017, we continue to see diametrically opposed developments across the European Union in investor, and broader, migration discourse.   On the one hand, migration and nationalism featured prominently in European elections. In the Netherlands and France, centrist victories provided respite from anti-immigration rhetoric. The Dutch election was seen by some … ...
25 May 2017
  Basic requirements An application for Austrian citizenship in most cases requires – apart from some other requirements – that the applicant has a minimum time of lawful and continuous residence in Austria of at least 6 or 10 years, depending mostly on his current citizenship, his family background (e.g. married to an Austrian) and … ...
25 May 2017
  Politically exposed persons (PEPs), and foreign nationals who possess a U.S. temporary visa, before residency by investment may be subject to the U.S. foreign account tax compliance act (FATCA) and the financial action task force (FATF).   Foreign National Investors (hereinafter FNIs) may obtain U.S. permanent residency by their investment of personal funds (USD$500,000.00 … ...
24 May 2017
  For centuries, China has experienced many historical periods of emigration and in the era of modern emigration, large numbers of Chinese have migrated to popular immigration destinations such as the U.S., Canada, Australia, U.K., etc.   For many of these destination countries, China has been a top immigration source country.  But in recent years, significant … ...
1 March 2017
One of the hottest topics in EB-5 is the requirement of a new commercial enterprise (“NCE”) to sustain the investors’ funds “at risk” following the payoff of a loan by the job creating enterprise to the NCE. This issue will be of increasing importance as more and more 5 and 6 year loans are paid … ...
10 January 2017
On January 1, 60 Minutes — an investigative programme aired by the US television company, CBS Corporation — ran a segment on ‘Citizenship by Investment Programmes’ (CIP) that are operated by several countries around the world. For reasons best known to itself, 60 Minutes focused on three Caribbean islands after paying merely a passing glance … ...
10 January 2017
An Everett developer’s guilty plea Wednesday to federal fraud charges is the latest example of abuse of the EB-5 program offering green cards to foreign investors.   Lobsang Dargey used the program to fuel his fast rise in the Puget Sound real estate industry. Now, he faces up to 10 years in federal prison and … ...
2 December 2016
  Lihua Tian’s lawsuit against government will proceed as she has been granted permission to challenge the revocation of her citizenship and Antigua & Barbuda passport.   The High Court judge dealing with the matter has also put halt to the probe by a Committee of Inquiry investigating Lihua’s application and the approval process.   … ...
2 December 2016
  The government of Antigua & Barbuda has been advised that the country could be missing out on the chance to add rare professionals to the workforce by not having a “skilled persons” option in the Citizenship by investment Programme (CIP).   The advice comes from Chief Executive Officer (CEO) of the Citizenship by Investment … ...
2 December 2016
  The Hon Prime Minister, Dr. Roosevelt Skerrit is reporting that his recent trip to promote Dominica’s Citizenship by Investment programme was highly successful.   Last week, Hon Skerrit led a delegation of nine Dominicans on a series of trips to in the hopes of meeting and attaining prospective investors for Dominica. At a press … ...
2 December 2016
  Former Nationalist minister says Henley & Partners, concessionaires of Malta’s Individual Investor Programme, have reproduced his 2012 foreword for the latest edition of their citizenship manual Henley & Partners’ decision to include a four-year-old foreword by former Nationalist minister Tonio Fenech in their latest edition of the Global Residence and Citizenship Handbook, which was … ...
2 December 2016
  In her speech to the Conservative Party conference in October this year, Theresa May declared that ‘if you believe you’re a citizen of the world, you’re a citizen of nowhere’. In the febrile atmosphere of post-referendum Britain, this statement caused consternation. Here was a top level political rejection of the values of internationalism to … ...
2 December 2016
  Not many governments or citizens in the bloc of 15 nations in the Caribbean were hoping or praying to have to live with an administration led by Donald Trump, but his victory in the 2016 presidential election could mean a financial windfall for some countries, particularly those in the Eastern Caribbean.   For island … ...
20 September 2016
  The Cyprus Citizenship-by-Investment Program was amended on 13 September 2016, pursuant to a decision of the Council of Ministers.   The new decision aims to make a successful Citizenship-by-Investment Program even more accessible and customized to the needs and conditions of the Cypriot and global economy.   Four major changes were introduced:   Firstly, … ...
2 September 2016
  This article concerns the dual citizenship control and restrictions in Russia on the background of general increasing legislative pressure in the Russian Federation, which have had place for several last years.   Before anything else, it is necessary to point out that dual citizenship came into the Russian law only 25 years ago with … ...
2 September 2016
  As we know, China is the second largest economy of the world and Hurun Report (2015) further shows that it’s the first time the number of billionaire in China is more than the one in the US.  Chinese now are actively seeking for transformation and globalization particularly through oversea migration.   In the immigration … ...
2 September 2016
  Background On 14 July 2014 P5+1 and Iran agreed the Joint Comprehensive Plan of Action (“JCPOA”) after marathon negotiations in Vienna. This historic deal was eventually to put an end to nuclear sanctions against Iran. This happened on 19 January 2016 which is known as the implementation day. This was the date when the … ...
2 September 2016
  With its efficient processing, rigorous due diligence, wide choice of investment options and the sheer physical attraction of the islands, the Antigua & Barbuda Citizenship-by-Investment Programme is fast becoming a jurisdiction of choice. In fact, according to the Henley & Partners Visa Restrictions Index 2016, Antigua and Barbuda is the “leading country in the … ...
2 September 2016
  As we head into autumn, 2016 already promises to leave behind a history of significant events. From Brexit to Schengen to global security challenges there is much ado in the world of High Net Worth Individual (HNWI) movement.   As the sun sets on Rio’s 2016 Olympics, we look at how Brazil fares against … ...
2 September 2016
  On 23 June 2016 more than 30 million people in the United Kingdom took part in a referendum to decide the UK’s future within the European Union, with 52% of people voting to leave the EU. What followed has been described as the Brexit (Britain’s exit from the EU) ‘earthquake’.  The aftershocks were felt … ...
2 September 2016
  Traditionally, the majority of the world’s wealthy elite have hailed from those parts of the world with advanced Western economies; most notably from Europe and North America. However, this trend is shifting east as Asia now mints more new high net worth and ultra high net worth individuals than any other part of the … ...
2 September 2016
  The UK immigration landscape continues to be dominated by Brexit. The questions of ‘when’, ‘how’ and ‘what’ remain unanswered and some commentators are even starting to question ‘if’ Brexit will actually take place, although this may be wishful thinking. Whilst focusing on the possibility that Brexit might not actually happen may provide some comfort … ...
1 September 2016
  The EB-5 Regional Center Program (the “Program”) is responsible for tens of billions of dollars in capital investments and tens of thousands of American jobs. It is critical for lawmakers to understand the detrimental consequences to the U.S. economy if they allow EB-5 to lapse or expire.   From 2005 to 2015, over $15 … ...
6 April 2016
Italy opens its borders to foreign investors. From 9 February 2016, applications for investor work permits may be submitted in Italian to the local immigration authorities via a dedicated web site. In effect, on 2 February 2016, Italy enacted the annual decree setting forth the quotas for 2016 that apply for different categories of foreign … ...
5 April 2016
A long term extension of the regional center EB-5 program failed to pass Congress in 2015 mostly because of intractable differences between rural and urban interests. Various proposals were floated seeking to incentivize rural investments and discourage urban investments by providing a reduced investment amount based on various artificial configurations of census tracts. In the … ...
5 April 2016
In recent years, many countries signed an agreement with the United States, known as the Foreign Account Tax Compliance Act. This enables automatic reporting to the US tax authorities of financial data of any Americans with bank accounts in their territory, such as income from savings. These agreements inspired the OECD and the G20 to … ...
5 April 2016
The biggest issue presently in the U.S. EB-5 investment green card program is the long quota waiting list for Chinese national investors, who comprise over 85% of all investors in the EB-5 program.  Because the waiting list may exceed 4 to 5 years before the investor can immigrate to the U.S., investors and their representatives … ...
5 April 2016
The annual number of relinquishments of U.S. Citizenship has grown exponentially in just the last few years. According to data published by the U.S. Department of the Treasury, in 2015, a total of 4,279 people relinquished their U.S. citizenship, 800 more than the previous year.  In contrast, the number of renunciants was a few hundred … ...
5 April 2016
While the concept of residence planning for wealthy individuals is not new, the motives behind such considerations are continually evolving, particularly in Asia. There are various reasons why wealthy individuals may consider relocating. These reasons include quality of life, security, education and most notably tax planning. Traditionally, and amongst Europeans in particular, the only way … ...
5 April 2016
Immigration authorities in the Province of Quebec announced they will begin accepting new applications under its highly successful Quebec Immigrant Investor Program for a limited period beginning May 30th 2016 and ending February 28th 2017. This comes as welcome news for high net worth individuals looking for an attractive passive investment program offering Canadian permanent residence. The … ...
5 April 2016
Nadine Goldfoot  considers the likely impact of Britain’s possible withdrawal from the European Union for High Net-Worth Individuals and investor migrants. The UK has long been among the world’s most appealing destinations for high net worth individuals (HNWIs) and their families looking to secure their personal and financial futures and ensure their continued prosperity for … ...
24 March 2016
The biggest issue presently in the U.S. EB-5 investment green card program is the long quota waiting list for Chinese national investors, who comprise over 85% of all investors in the EB-5 program.  Because the waiting list may exceed 4 to 5 years before the investor can immigrate to the U.S., investors and their representatives … ...
17 December 2015
The Investment Migration Council (IMC), the worldwide association for Investor Immigration and Citizenship-by-Investment, head quartered in Geneva, has recently opened an office in Hong Kong represented by Mandeville & Associates. This ‘touch point’ serves to spread the reach of the IMC and its work throughout some of the key markets in the world. Mandeville & … ...
17 December 2015
In the last 10 days, I have met with no less than four people whose companies are relocating them to the United States. These people are being asked to relocate for periods of up to three years, with the possibility that the assignment could be extended further. There are a number of issues that arise … ...
17 December 2015
The U.S. EB-5 green card by investment program is on the verge of the most significant legislative changes in more than two decades. Established in 1990, the program has been virtually unchanged for more than two decades.  The central focus of the program is job creation – the foreign national’s investment must create 10 jobs for … ...
11 December 2015
After many different attempts to control the influx of Quebec Immigrant Investor Program (“QIIP”) applications, the Quebec immigration department has renewed the intake of QIIP applications under a quota system allocated to financial intermediaries (“Quota System”) for a second year.  Set at 1,750 applications (with a limit of 1,200 from a single country), this year’s … ...
11 December 2015
Massive migration from China took place starting from the early 19th century right into 1950s, mainly driven by starvation and invasions from foreign countries. After 1980 however, an increasing number of Chinese migrate overseas with the implementation of a liberal migration policies .  The majority of emigrants  are  China’s  richest individuals and its highly educated … ...
10 December 2015
NZ businesses will need more than $420b in capital by 2025 to support export growth to achieve the Government’s ambitious “Growth Agenda”. KPMG analysis suggests there will be a shortfall of around $115b that will need to be funded by foreign investment. There is evidence that start-up and early stage NZ businesses are likely to … ...
10 December 2015
The Significant Investor Visa (SIV) programme is Australia’s main path to residency for international investors. Investors must invest a minimum of Aus$5 million over 4 years in “approved” investments after which time they receive permanent residency. A Premium Investor Visa (“PIV”) is also available and is aimed at attracting applicants with business and entrepreneurial skills. … ...
10 December 2015
In 2016, Canada’s business immigration Start-Up Visa program is expected to become a more popular financing option for start-up companies across Canada. Over the past few years, Canada’s long standing federal business immigration programs were largely eliminated with the cancelation of the former Federal Immigrant Investor program and the Federal Entrepreneur program. Its replacement programs … ...
4 December 2015
High net worth individual (HNWI) wealth is expected to reach a record US$64.3 trillion by 2016[1]. Of that, predictions show almost US$12 trillion is new HNWI wealth, fostered by robust expansion in most world regions. Symmetry can be seen between this HNWI growth and applicant numbers to global investor migration programmes over 2015, suggesting a … ...
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