Category: News

Source: mondaq.com

Published: 5 September 2022

The EB-5 Reform and Integrity Act of 2022 (“RIA”) was signed into law on March 15, 2022 to reauthorize the regional center program. In an unforeseen circumstance, USCIS prevented this from occurring by decertifying every previously approved EB-5 Regional Center and requiring them to refile for designation. In response to this, Klasko Immigration Law Firm co-counseled a lawsuit that prohibited USCIS from decertifying all regional centers. As a result of weeks of negotiation with USCIS, a Settlement Agreement was achieved. Read full the highlight of this Settlement Agreement, here.

Details:

• “EB-5 Regional Centers Achieve Settlement with USCIS to Restart the Regional Center Program,” Client Alert, Klasko Immigration Law Partners, Aug. 26, 2022, https://www.klaskolaw.com/news/client-alert-eb-5-regional-centers-achieve-settlement-with-uscis-to-restart-the-regional-center-program/

Source: stlucia.loopnews.com

Published: 30 August 2022

Tourism and Investment Minister Ernest Hilaire says plans are underway to improve the Citizenship by Investment Programme, which has been hit by the ongoing Ukraine – Russia Conflict.

Dr Hilaire spoke to the media Monday, returning from his recent overseas trips.

Saint Lucia joined the rest of the world in putting sanctions against Russia, which include a ban on CIP applications.

Dr Hilaire says with the growing changes, including the situation in Russia, new strategies had to be implemented.

According to the Investment Minister, some of these new strategies include highlighting Saint Lucia at the upcoming Miami Carnival Celebrations.

“Very shortly a team will be travelling to Miami where Saint Lucia will be the feature at Miami Carnival. We’ll take the opportunity to announce the dates for next year’s carnival.”

He says that there were discussions about impending changes for the program and adds the CIP funds should be used more directly to benefit Saint Lucians.

“One of the ways in which we’d be doing so is housing. You’ve heard some of the pronouncements made by the Minister of Housing in terms of his housing program and we’re hoping that the CIP can lend support in that regard.”

Saint Lucia, he adds, should remain cutting edge and with the return of the Jazz Festival in 2023, Hilaire notes that he’s excited about the upcoming activities.

Source: periodicaltoday.com

Published: 26 July 2022

The government of the small island nation of the Caribbean, Saint Lucia, has recently signed a Development Agreement to construct a luxurious 345-room Grand Hyatt hotel in Choiseul’s Sabwisha.

The hotel’s construction will commence in 2023 and is expected to finish by early 2025. Prime Minister Philip J Pierre, Deputy Prime Minister and Minister of Tourism Ernest Hilaire and the hotel developers – Chief Executive Officer of TTS Resorts LTD, Lachezar Todorov, signed the agreement on Wednesday, July 20, 2022.

PM Pierre expressed his gratitude to the developers for showing their faith and belief in the Caribbean’s Saint Lucia. He said, “Being one of the major tourist destinations of the Caribbean region, we are looking ahead to the real opening of the resort.”

He further added that the development of a new five-star luxurious hotel would benefit the locals.

Deputy PM and Tourism Minister Ernest Hilaire stated that the sector of tourism is in a phase of revival post-COVID-19 pandemic, and investment has again started flowing to Saint Lucia. He also added that the government would soon begin developing the En Bas Beach Resort and expanding the Sandals Haycon and many other projects.

“After no new hotel construction or major development for over five (5) years, work has begun on the Cas En Bas Beach Resort and expansion of Sandals Halycon. More announcements will soon be made. Look out for the Formal Launch of the Community Tourism Programme.” Ernest Hilaire emphasised that the government of Saint Lucia has been keeping their commitments of “Putting People First”.

Grand Hyatt will be among the gems of Saint Lucia’s ultra-luxury hotel line-up and will raise the presence of the brand in the Caribbean’s leading travel destination. The new-build resort will be featured with 345 guestrooms, including more than 50 luxury suites, three restaurants offering world-class chefs and iconic dishes reflecting the country.

Some of the other indulgences of the resort will comprise three bars, a pool bar, a lobby lounge, a beach-side bar, an 8000-square foot destination spa and a fitness centre to tie guests with their mental and physical wellbeing. It will also feature over 23,000 square feet of three swimming pools. Furthermore, a kid’s club and activity centre, retail shops as well as an ultramodern screening room will also be built for the amusement of children.

The construction of the Grand Hyatt will surely boost the tourism and hospitality industry of Saint Lucia. Apart from this, it will also provide several employment opportunities to the citizens and residents of the country. The construction of the new hotel will also open doors to several opportunities for people looking to invest in the socio-economic development of Saint Lucia.

The country has been working wisely to make its tourism and hospitality sectors better. The government of Saint Lucia has been making all this possible with the help of funds generated through the Citizenship by Investment Programme (CIP). Saint Lucia Citizenship by Investment Programme was launched in the year 2016 and is one of the newest economic citizenship programmes in the region.

Despite being the newest, Saint Lucia is on par with some of the CIPs in the Caribbean. It is worth noting that the Programme of Saint Lucia performed great in the 2021 CBI Index by the PWM Magazine of Financial Times and topped three pillars (out of nine).

In the world of uncertainties, Saint Lucia has been offering investors an opportunity to start their businesses and expand their businesses at a global level. The investors can protect as well as grow their wealth by investing in the alternative citizenship of Saint Lucia. As its demand has been rising across the globe, the government started working closely with international third-party firms to conduct background checks which are strong, robust and vigorous.

The investment option which allows the investor(s) to contribute to the growth and development of the country is National Economic Development Fund, which is popularly termed as Fund Option. Under the Fund Option, the investor(s) can contribute to the country’s socio-economic development. The minimum investment is USD 100,000.

Published: 25 July 2022

The Investment Migration Council (IMC) has released the first-ever Guidelines on Advertising and Marketing, providing a practical guide for IMC members when issuing commercial messages.

The Guidelines, also referred to as IMC Marketing Standards, aim to create a culture of professional excellence and ethical marketing practices in investment migration. They consist of two parts. The first part contains general provisions on advertising and marketing and covers topics such as accuracy and fairness; prohibition of discrimination; and data protection. It states that all information included in marketing and promotional material should be permitted by law in the jurisdiction where the IMC member operates.

The second part provides specific guidance on advertising and marketing of investment migration programmes. It addresses the topic of misleading and false information, with provisions ranging from the fair representation of programmes to the prohibition of aggressive advertisement practices. The Guidelines also outline content rules, including the use of terminology, imagery and research data. In addition, they state that the identity and contact details of IMC members should be transparent and easy to determine. Marketing and promotional materials should also reflect values of fair competition, with specific provisions covering the comparison between programmes, as well as the use of logos and trademarks, amongst others.

The Guidelines are the result of a comprehensive review undertaken by the IMC and are inspired by and closely resemble existing Marketing Codes of international organisations and national jurisdictions including the International Chamber of Commerce (ICC) Advertising and Marketing Communications Code.

The final outcome is an international, self-regulation tool that can be applied by companies of all sizes to show transparency and responsibility when dealing with issues of brand and the media. They should not be considered to be a substitute to the relevant laws and regulations.

“The IMC Marketing Standards are best thought of as starting points in a communications environment where change is the rule rather than the exception. We envisage the need for an ongoing process of additions and amendments to ensure that the Guidelines will remain, at all times, credible and relevant,” says Bruno L’ecuyer, the IMC’s Chief Executive.

“The guidelines also show the important role the IMC plays in developing standards for investment migration,” he adds. In previous years, the IMC has already published a Code of Ethics and Professional Conduct as well as an Anti-Bribery and Corruption Policy applicable to all its members.

Download the full statement here

Read the IMC Guidelines on Marketing and Advertising here

Source: occrp.org

Published: 20 July 2022

Four people, including the former head of the Cyprus Parliament, were charged with corruption over their role in the country’s cash for passport scheme, according to a statement by the Attorney General.

An August 2020 investigation by Al Jazeera, called “The Cyprus Papers,” revealed how the Cyprus Investment Program allowed convicted criminals to obtain a Cypriot citizenship in exchange for a US$2.5 million investment in the country. This would grant the majority Russian clientele access to live, travel and work across the European Union.

Al Jazeera’s investigative unit released an under-cover video two months later, exposing how top-tier politicians such as Demetris Syllouris, the President of the Cyprus Parliament at the time, and Christakis Giovani, a member of parliament then, were willing to aid and abet a fictitious Chinese businessman and convicted money launderer to illegally obtain a Cypriot passport.

Within days of the video’s release, public outcry followed. Both Syllouris and Giovani had to step down from their roles, and the passport investment scheme was abolished. Both the European Union and the Cyprus government and police launched investigations.

Cyprus authorities said in a Thursday’s statement that the charges were related to Al Jazeera’s investigation, and the findings of a 2021 board of inquiry following the exposé.

The Cypriot authorities did not name the four people that were charged. However, according to legal sources who spoke to Al Jazeera, the indicted were those exposed in the undercover documentary as helping the supposed criminal secure a citizenship; namely Syllouris and Giovani, as well as Andreas Pittadj, a lawyer, and Antonis Antoniou, the executive director of a real estate company.

The four will be brought before court on September 12 in the capital, Nicosia. They face five counts on two charges – conspiracy to defraud the state, and influencing a public official in violation of the law recognizing the Council of Europe Convention on the Criminalization of Corruption.

According to the European Union’s 2022 Eurobarometer report, 94 per cent of the 505 Cypriots surveyed believed corruption to be a widespread problem in the country – right beneath Greece and Croatia.

Although Cyprus’ investor citizenship scheme is no longer in effect, other European Union countries such as Malta, Portugal, and Greece, offer similar programs.

Source: latitudeworld.com

Published: 17 June 2022

Latitude Group is proud to announce that its Malta office is celebrating their first applicants receiving their Maltese citizenship approvals under the newly established Maltese Exceptional Investor Naturalization (MEIN). These first applicants and their families started their MEIN journey in December 2020 and took just under 18 months to receive their citizenship approvals.

Ryan Darmanin, Managing Director of Latitude Malta, commented: “we are thrilled to see these two families receive their approvals after completing their 12 months of residency under the new MEIN. It is an honour to be the first licenced advisory firm to welcome MEIN approved applicants to Malta and I am very proud of my team and the Government Agency for this milestone. Our dedicated team has been working diligently to replicate our success under the former Malta Individual Investor Programme (MIIP) with the MEIN, and we anticipate many more applicants and approvals in the future as global demand continues to be strong.”

The MEIN grants citizenship to individuals and their families who make a direct investment in the Republic of Malta, contributing to the social and economic development of the country. It is open to reputable individuals and families and gives successful applicants the opportunity to live, do business, and study as citizens of Malta. The goal of the MEIN is to attract the highest standard of applicants from all over the world and have them contribute to the country, both economically and socially. Malta has a long history of attracting foreign direct investment and Latitude helps clients from all over the globe, including from the Middle East, Asia, and USA.  

Malta citizenship allows its citizens with a passport the ability to travel to over 180 countries visa-free, including the USA and Canada, as well as the right of settlement in all 26 countries of the EU.  Primary applicants can choose to include their spouse and children, parents and grandparents within their application.

The comprehensive application process, which starts with getting residency in Malta, offers two pathways to attain citizenship. The lower capital outlay route takes three years of residency with a contribution of €600,000, while the second route takes a minimum of one year of residency with a contribution of €750,000. Both options require an additional contribution for dependents of €50,000 each and applicants must either rent or purchase property in Malta.

Ezzedeen Soleiman, Managing Partner of Latitude North America, explains: “this is exciting news, especially for our US clients who we have seen a 600% year on year increase in interest. Malta is an attractive destination for our clients seeking more options in life and these approvals re-affirm the advantages of Latitude investing in a highly experienced local team in Malta to ensure the best chances of a successful application.”

The UN Office Geneva is pleased to share with you the 2021 UN Geneva Annual Report: Shaping renewed multilateralism.

Please find below a quote from the UNOG Director-General:

‘The world is facing many interrelated problems, including armed conflicts, humanitarian emergencies, economic shocks, climate change and a pandemic. Global challenges of this magnitude require global solutions. Multilateralism, however, is under fire, just when it is needed most. It is clear we need a new multilateralism that responds to today’s evolving needs.

To help shape this renewed multilateralism, in 2021 UN Geneva focused on becoming more modern, inclusive and innovative. The completion of important phases of the Strategic Heritage Plan provided many staff with a new working environment. Our embrace of technology enabled greater participation and engagement in multilateralism by our diverse stakeholders. 

At the same time, UN Geneva adapted to the evolving epidemiological situation to ensure the continuity of multilateral diplomacy and the delivery of our mandates while supporting the safety and well-being of staff, delegates and all who visit our premises. In addition, we continued to put the 2030 Agenda for Sustainable Development at the forefront of our work, developing new partnerships and further incorporating sustainability into our projects.  

These activities and more are outlined in the Annual Report’.

The report is available in English and French on the UN Geneva website.

Published: 13 May 2022

Investment Migration Forum returns as an in-person event in 2022
The popular Investment Migration Forum – the annual ‘Davos’ style get-together of investment migration professionals organised by the Investment Migration Council – will return to its usual in-person format and be held between the 6th and 9th June in Brussels, Belgium. Renowned academics, government officials, representatives of international organisations, as well as the world’s leading professionals dealing with investment migration will be gathering at Steigenberger Wiltcher’s hotel.
Already in its 7th edition, the three-day event will be moderated by Anya Sitaram, former BBC World News anchor, and attract participants from more than 40 countries. The line-up of speakers and panellists includes the leading voices of investment migration, who will share best practices and actionable insights on industry-moving trends and developments.
From in-depth analytics to unique perspectives – a packed agenda awaits forum participants. Programme developments as well as global migration trends – affecting and influencing countries across the world ranging from the Caribbean and the US to Europe and Asia – will be key themes of the Forum.
Among the forum highlights will be an address by Joe B Lynam, BBC Broadcaster and Former Disinformation Specialist at the European Commission, who will talk about “Disinformation and Reputation Management in the TikTok era”. In another session,
Prof Dr Khalid Koser, Member of the Governing Board of the Swiss Andan Foundation, will share his thoughts on the future of migration and refugee policies and explain why we need global refugee cities.
Nadine Gooldfoot, Partner of Fragomen Worldwide, will explore the new generation of nomad and gig economy visas, while the Forum will also feature Andres Solimano, President of the International Center for Globalisation and Development, Chile, who will offer insight on economic recovery and investment migration in the post-Covid transition.
“After two years of virtual events, we are excited to host a live in-person event and offer the full conference experience including high-quality learning and debate, as well as networking and business development opportunities. Industry practitioners wanting to fill pandemic-induced knowledge gaps and gain new perspectives that will drive our industry forward should consider attending this year’s event. Coming together again for the greater good of the investment migration industry has never been more important,” says Bruno L’ecuyer, Chief Executive of the Investment Migration Council.
The Forum will follow all COVID-19-related guidelines, protocols and measures in place at the time of the event to ensure everyone’s safety onsite.
For more information and to register for the event, kindly visit https://investmentmigration.org/forum/

About the IMC
The Investment Migration Council (IMC) is the worldwide association for investor migration and citizenship-by-investment, bringing together the leading stakeholders in the field and giving the industry a voice. The IMC sets the standards on a global level and interacts with other professional associations, governments, and international organisations in relation to investment migration. The IMC helps to promote high professional standards as well as to improve public understanding of the issues faced by clients, professionals, and governments in this area.
For media questions or requests for interviews, please contact the Media Relations Team at media@investmentmigration.org

Source: fragomen.com

Published: 5 May 2022

The European Travel Information and Authorization System (ETIAS) is scheduled to become fully effective by May 2023. The ETIAS travel registration system will require visa-exempt non-EU nationals to pre-register travel for a small fee, similar to the U.S. ESTA system. In addition, the European Commission has reconfirmed that ETIAS will also apply to EU Member States not part of the Schengen Area, specifically Bulgaria, Croatia, Cyprus and Romania. This means that visa-exempt third-country nationals traveling to these EU non-Schengen countries will also have to apply for ETIAS ahead of their travel. Ireland is not part of the Schengen Area and is currently not planning to join, therefore ETIAS will not be applicable to visa-exempt nationals traveling to Ireland.