Category: News

  • Trump’s visa suspensions may permanently damage America’s reputation

    Last week President Trump suspended visas for huge categories of immigrants, allegedly to “protect American jobs.”

    To understand how disingenuous this rationale is, consider the case of Vihaan Baranidharan.

    Vihaan is stuck in India, where he went to see his sick grandmother for what was supposed to be a short visit. Thanks to Trump’s order, he’s blocked from getting the visa stamp needed to return to Dallas. But Vihaan has not taken, nor has any plans to take, any American’s job. He doesn’t have the experience to be competitive in the U.S. job market — or even sufficient vocabulary.

    Because Vihaan just finished first grade.

    “What risk could he pose to the U.S. economy?” pleads his mother, Sindhu Turumalla. “He is 7.”

    That doesn’t matter to the Trump administration, which is exploiting the economic downturn as another excuse to punish immigrants — whether legal or undocumented, professional or working class, entrepreneur or student, adult or child.

    The United States is so far the only country to “explicitly justify mobility limitations not on grounds of health risk, but to protect the jobs and economic wellbeing of” its citizens, according to the Migration Policy Institute.

    In an April executive order, Trump suspended issuance of green cards for most people applying from abroad. Last week’s executive order expanded the ban to large categories of temporary, employment-based visas. This included the highly skilled immigrants the administration usually claims it prioritizes, as well as any spouses and minor children who normally accompany these workers.

    The U.S. economy is indeed in bad shape. But it’s hard to fathom that the estimated 377,000 would-be immigrants now barred from entry present much “risk to the U.S. labor market,” as Trump claims.

    Keeping them out, however, could actually harm the economy in the long run. Vihaan’s family presents a helpful case study.

    His dad, an executive handling cybersecurity at a major global bank, has been based in the United States since 2017 on a visa specifically for executives transferred from abroad within the same company. He manages, and hires, U.S. workers. While unemployment overall is in double digits, in his field — computer-related occupations — unemployment has declined since the pandemic began, hitting 2.5 percent in May.

    What’s more, economists generally believe that highly skilled immigrants like him create job opportunities for Americans and make the country more competitive, especially in STEM, or science, technology, engineering and math, fields.

    Vihaan and his mom, who is a homemaker, traveled to India in late February to see Vihaan’s grandmother, who has stage-4 cancer. Then, like dozens of other immigrant families I’ve talked to over the past week, they were hit with a series of shocks.

    Return flights were canceled. U.S. consulates closed, preventing access to required visa stamps. Then, Trump’s executive order declared that even if consulates reopen soon, they won’t issue such visas until at least 2021.

    The order has incited chaos and panic for the many legal immigrants stranded halfway around the world from their loved ones. Denver-based software developer Kranthi Goud told me that he and his wife have valid visa stamps, but that they cannot get a visa for their 4-month-old daughter, who was born in India.

    “This is the time when I should be bonding with her,” Goud said. He is temporarily working from India but fears having to choose soon between his job and his baby.

    Perhaps such family separations are an accident of sloppy policy design. But it’s hard not to view them as a deliberately punitive choice to bar entry of new high-skilled immigrants while also making life more painful for those already here.

    Even if the ban is temporary, America’s reputation with global talent may be permanently damaged.

    High-skilled workers are being welcomed in other countries. Cisco’s chief executive recently referred to Trump’s suspension of visas for such workers as “a Canadian Jobs Creation Act.”

    Other U.S. jobs may also be lost in the long run. Right now, international executives cannot reliably visit their factories or offices in the United States. Next time they build a plant, they might locate it elsewhere.

    Already, affected families are exploring their options.

    Turumalla, Vihaan’s mom, says the family has been happy in Dallas. Vihaan loves his school and with a local therapist’s help has made huge progress with a speech impediment. The family bought a house and thought they were living “the American Dream”; they hadn’t even entertained positions Vihaan’s dad was offered in other countries.

    Then, Turumalla overheard her son say something in a video chat with a classmate that unsettled her — that he probably won’t be back for second grade because the president doesn’t like him and doesn’t want his family here.

    She’s still hoping to return to Dallas, and her husband, soon. But she’s reevaluating their long-term plans: “I’m not sure I want my son to grow up in such a hostile environment.”

    Source: washingtonpost.com
    Published: 30 June 2020

  • Trump Signs Executive Order Suspending Certain Work Visas Through 2020

    President Trump on Monday signed an executive order to suspend the issuance of certain temporary worker visas through the end of 2020, cracking down further on immigration after signing a more narrow measure in April.

    The order applies to H-1B visas, H-2B visas, H-4 visas, L-1 visas and certain J-1 visas. It is the latest effort by the Trump administration to satisfy immigration hawks and groups that argue American workers should be prioritized, especially amid the economic downturn caused by the coronavirus pandemic.

    H-1B visas are used for skilled workers and are common in the tech industry and is the largest visa program of those included in Monday’s order as its recipients can stay for multiple years.

    H-2B visas apply to seasonal workers. H-4 visas are given to spouses of H-1B visa holders.

    J-1 visas are given to researchers, scholars and other specialized categories such as au pairs, while L-1 visas are used for executives transferring to the United States from positions abroad with the same employer. Roughly 300,000 J-1 visa recipients come to the U.S. every year, according to the American Immigration Council.

    “Temporary workers are often accompanied by their spouses and children, many of whom also compete against American workers. Under ordinary circumstances, properly administered temporary worker programs can provide benefits to the economy. But under the extraordinary circumstances of the economic contraction resulting from the COVID-19 outbreak, certain nonimmigrant visa programs authorizing such employment pose an unusual threat to the employment of American workers,” the order reads.

    The restrictions are set to remain in place for the rest of the calendar year and can be extended.

    A senior administration official said the visa restrictions would free up more than half a million jobs for workers already in the country. However, many companies are laying off workers due to the pandemic, and economic experts have acknowledged some of those jobs may not return.

    The official said Trump has also directed aides to work on longer-term reforms to the immigration system. The president is pushing for a more merit-based system that would distribute H-1B visas based on which applicants received the highest wage offers, the official said.

    The president is also pushing to close loopholes that allow companies to outsource labor to foreign workers, the official said.

    The order does not apply to those already in the United States, and it gives the Trump administration some leeway in making other exceptions. For example, immigrants applying for visas to provide labor “essential to the United States food supply chain” are exempt. Individuals “whose entry would be in the national interests” as determined by the federal government are exempt as well.

    The expanded visa restrictions may not have a significant immediate impact given the U.S. has barred noncommerce travel into the country from Canada, Mexico, China and Europe. But the move is likely to receive approval from Republicans and immigration hawks who have pushed for stronger measures to protect American jobs while the economy recovers.

    “We’re hopeful this is going to see broad bipartisan support,” the official said.

    The order comes roughly two months after Trump signed an initial executive order that temporarily suspended the issuance of new green cards, citing the need to protect American jobs amid widespread unemployment during the pandemic.

    The original order contained broad exemptions and was set to expire this week after a 60-day period. That measure was widely panned by allies of the administration who viewed it as too narrow and falling far short of Trump’s pledge via tweet to “temporarily suspend immigration into the United States.”

    “I think it’s going to make a lot of people very happy, and it’s common sense, I mean, to be honest with you. It’s common sense,” Trump said of the order during an interview Saturday with Fox News.

    Immigration hawks largely welcomed Monday’s executive order despite some of the exemptions.

    “For the most part, the president withstood intense pressure from powerful business interests that continue to demand more cheap foreign labor, even as they have laid-off an unprecedented number of American workers over the past three months,” Dan Stein, president of the Federation for American Immigration Reform, said in a statement.

    “We fully expect that the agencies charged with carrying out this Proclamation in furtherance of the president’s intent to aid struggling American workers will resist pressure from corporate lobbyists to abuse their discretionary authority,” Stein added.

    Business groups expressed concerns about the measure, which they argued would discourage qualified workers from coming to the U.S.

    “Restrictive changes to our nation’s immigration system will push investment and economic activity abroad, slow growth, and reduce job creation,” U.S. Chamber of Commerce CEO Thomas J. Donohue said in a statement.

    Sen. Lindsey Graham (R-S.C.), a staunch ally of the president, said in a statement that he worried the executive order “will create a drag on our economic recovery.”

    “Those who believe legal immigration, particularly work visas, are harmful to the American worker do not understand the American economy,” Graham said.

     

    Source: thehill.com
    Published: 22 June 2020

  • Balancing Due Diligence With Investor-Friendly Policies Key To Future Of Investment Immigration

    There are risks and pitfalls in operating investment immigration programs, in which countries have often learned the painful way by making mistakes and facing scandals.

    Such risks include misuse of programs for tax evasion, the moral and political implications of putting citizenship up for sale, and the possibility of lax regulation and due diligence leading to security risks.

    This leads to the key factor that will determine the future of the investment immigration industry — effective due diligence.

    Countries have responded to criticism with stricter checks, more comprehensive due diligence protocols, measures to prevent tax evasion and money laundering, and overall professionalization of the programs.

    Others have increased processing fees to fund the establishment and maintenance of systemic safeguards.

    While naysayers remain, the steady pace at which the investment immigration industry has grown across the world clearly shows that a balanced approach combining transparency and due diligence with investor-friendly policies will be key going ahead.

    To read this article in its entirety please click here

     

    Source: mondaq.com
    Published: 19 June 2020

  • Dominica PM Skerrit Becomes New Chairman of OECS Authority

    The Sixty-Ninth Meeting of the OECS Authority was held virtually on June 18th 2020, under the Chairmanship of Dr. the Honourable Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica.

    The Meeting was preceded by a brief virtual Opening Ceremony where remarks were made by the outgoing Chairman, the Honourable Gaston Browne, Prime Minister of Antigua and Barbuda; the incoming Chairman, Dr. the Honourable Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica; and the Director General of the OECS Commission, His Excellency Dr. Didacus Jules.

    The Secretary General of the Caribbean Community (CARICOM), His Excellency Irwin LaRocque, was also in attendance at the Opening Ceremony.

    In the main, the Meeting focused on, inter alia:

    (a) The Regional COVID-19 Response

    (b) The Reopening of Borders

    (c) Support and Financing of the Eastern Caribbean Supreme Court

    (d) Annual Work Plan and Budget of the OECS Commission

     

    (A) REGIONAL COVID-19 RESPONSE

    The OECS Authority received reports on the region’s response to the COVID-19 pandemic, specifically in the areas of Health, Education and Agriculture.

    Heads of Governments were updated on the current numbers of the Cuban Henry Reeve Medical Brigade supporting the region in the fight against COVID-19 and the additional support expected in the coming weeks. Heads were also briefed on the procurement status of critical medical supplies, such as COVID-19 test kits, as Member States prepare to reopen borders.

    The Authority received a report on the Seasonal Agricultural Farm Workers Programme (SAWP) in Canada. The OECS Commission, through its Eastern Caribbean Liaison Service (ECLS) and with support from regional Ministries of Health and the relevant Canadian Authorities, facilitated the safe travel of over three hundred (300) agricultural workers from the OECS to Canada – at a time when OECS economies are most vulnerable and sustaining employment is essential.

    The Meeting was also apprised of a new educational initiative, the Yes I News Broadcast – a production of the OECS Education Development Management Unit, in collaboration with Ministries of Education across the region – intended to provide students with an opportunity for creative expression and skill development through engagement on authentic, meaningful experiences stemming from the COVID-19 pandemic.

    Further, Heads of Governments were presented with a dynamic tool, developed by the OECS Commission, that provides an overview of all COVID-19 protocols implemented by Member States.

     

    (B) REOPENING OF BORDERS

    The Meeting deliberated on matters of health, travel and the safe reopening of borders within the region. Heads of Governments and their representatives received reports on the proposed dates and reopening protocols of various Member States. The Meeting mandated that the OECS Commission lead in the coordination and review of protocols with a view to harmonise the region’s approach, especially in the area of testing.

     

    (C) SUPPORT AND FINANCING OF THE EASTERN CARIBBEAN SUPREME COURT

    The Authority received a presentation from the Chief Justice of the Eastern Caribbean Supreme Court (ECSC), Her Ladyship Honourable Dame Janice M. Pereira, and discussed the continued functions of the Court during this period of uncertainty.

    The Meeting also discussed the sustainable financing of the Court and considered opportunities presented by the COVID-19 pandemic, such as increased remote training and virtual meetings.

     

    (D) ANNUAL WORK PLAN AND BUDGET OF THE OECS COMMISSION

    OECS Heads of Governments received an update on the increased streamlining of finances at the OECS Commission, which included several cost reduction and revenue generation initiatives. The Meeting was also apprised of the progress of the Sustainable Development Movement, scheduled to be held in September 2020.

    The Authority commended the OECS Commission on its nimbleness during this unprecedented crisis and recommitted to settling outstanding financial contributions.

    All Heads and their representatives expressed their deep appreciation to the staff of the OECS Commission for the arrangements made to ensure a successful virtual meeting held on the occasion of the 39th Anniversary of the OECS.

     

    ATTENDANCE

    Heads of Governments and Representatives of Governments in attendance included:

    • Honourable Gaston Browne, Prime Minister of Antigua and Barbuda;
    • Dr. the Honourable Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica;
    • Dr. the Right Honourable Keith Mitchell, Prime Minister of Grenada;
    • Honourable Premier Easton Taylor-Farrell, Premier of Montserrat;
    • Honourable Shawn Richards, Deputy Prime Minister, St. Kitts and Nevis (representing Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris);
    • Honourable Allen Chastanet, Prime Minister of Saint Lucia;
    • Dr. the Honourable Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines;
    • His Excellency Alfred Marie-Jeanne, President of the Executive Council of the Territorial Authority of Martinique; and
    • Mrs. Diana Perran, Vice President of the Regional Council of Guadeloupe (representing the President of the Regional Council of Guadeloupe, His Excellency Ary Chalus).

    Dr. Didacus Jules, Director General of the OECS, and the following Commissioners were also in attendance:

    • H.E. Colin Murdoch, Commissioner to the OECS for Antigua and Barbuda;
    • H.E. Felix Gregoire, Commissioner to the OECS for the Commonwealth of Dominica;
    • Senator Cathisha Williams, Commissioner to the OECS for Grenada;
    • H. E.  Elma Gene Isaac, Commissioner to the OECS for Saint Lucia;
    • Ms. Najan Christopher, Commissioner to the OECS for the British Virgin Islands;
    • Ms. Maguy Marie-Jeanne, Commissioner to the OECS for Martinique; and
    • Dr. Ruddy Blonbou, Commissioner to the OECS for the Regional Council of Guadeloupe.

    The OECS Member States of Anguilla and the British Virgin Islands were not represented on account of prior urgencies.

     

    Representatives of OECS Institutions in attendance were:

    • Her Ladyship Honourable Dame Janice M. Pereira, Chief Justice of the Eastern Caribbean Supreme Court (ECSC); and
    • Mr. Donald McPhail, Director General of Eastern Caribbean Civil Aviation Authority (ECCAA).

    Other Members of Delegation in attendance were:

    • Honourable Sarah Flood-Beaubrun, Minister with Responsibility for External Affairs of Saint Lucia;
    • Honourable Kenneth Darroux, Minister of Foreign Affairs, International Business and Diaspora Relations of the Commonwealth of Dominica;
    • H. E. Steve Ferrol, Ambassador-at-Large, Commonwealth of Dominica; and
    • Mrs. Barbara Dailey, Permanent Secretary, Ministry of Foreign Affairs, International Business and Diaspora Relations of the Commonwealth of Dominica.

    Source: oecs.org
    Published: 20 June 2020

  • Dual Citizenship Firm to Open in Nigeria for Rich Seeking Havens

    Henley & Partners Group, a citizenship and residency advisory firm that helps the rich acquire second passports, will set up an office in Nigeria.

    Following in the footsteps of other globally mobile nationals from China, Southeast Asia and the former Soviet Union, wealthy Africans represent a steadily increasing part of its business, according to the Zurich-based company. Expressions of interest in either passports or residency rights from Africans have jumped in recent years to more than 1,000 in the first quarter of this year from about 750 a year earlier, it said. Nigeria will be its second outpost in Africa.

    “We have been engaging with Nigerian and West African clients for over three years now and have seen constant growth,” Dominic Volek, Henley’s head of sales, said by email. “The significant increase in wealth creation in the region has created a consequent surge in demand for our services.”

    Nigeria, the largest economy and biggest crude oil producer in Africa, has more than 700 people with a net worth greater than $30 million and that figure is forecast to grow by 13% in the next five years, Knight Frank’s 2020 Wealth Report estimates. The country, which has a population of about 200 million, also has the most people living in extreme poverty anywhere in the world, according to the Washington-based Brookings Institution.

     

    ‘Deep Pockets’

     

    Henley, which is setting up in Nigeria’s commercial capital, Lagos, supports those with deep pockets to secure citizenship of various Caribbean countries including St. Kitts and Nevis, that allow more widespread visa-free travel, as well as a select few European Union members such as Cyprus and Malta. Costs range from less than $200,000 for Caribbean passports — once vetted by both Henley and the government — to a contribution of more than $1 million for European nations.

    Other clients opt for residency-by-investment programs offered by countries including the U.S., U.K. and Portugal. Henley is globally the largest company active in citizenship and residence planning.

    The company already has a presence in Johannesburg and Cape Town in South Africa. Together, the continent’s two biggest economies provided about 85% of the more than 100 Africans that purchased Henley’s services in 2019, according to the firm. Most Nigerians keen to explore Henley’s offerings make their money in their home country and have no plans to relocate. Instead, they want to have access to greater options whether for last minute business travel or educating their children, according to Volek.

    “These clients can become very wealthy but at the end of the day they are limited because of the passport that they hold,” he said.

     

    Source: bloomberg.com
    Published: 17 June 2020

     

  • Moldova Repeals CBI-Law: “We Are Obviously Disappointed,” Say Henley & Partners

    In a press briefing this week, MP Igor Grosu told reporters that Moldova’s Parliament has repealed the law on citizenship by investment, according to Radio Chisinau.

    The passing of the bill, explained Grosu, fulfilled one of the conditions the EU had for releasing its EUR 30 million second tranche of macro-financial aid. The law, once promulgated, will enter into effect upon expiry of the country’s most recent moratorium of the program, on September 1st.

    Reacting to the news, Henley & Partners, the program’s concessionaire, expressed dismay at the final outcome.

    “We are obviously disappointed with the decision,” a company representative told IMI. “We signed an agreement in good faith with the Republic of Moldova and have invested significant time and capital meeting our contractual obligations. We remain entirely convinced that a well-managed CBI program would create sovereign and societal benefit for the Republic of Moldova, bringing debt-free liquidity, something which it badly needs.”

    It is not clear whether, or to what extent, Moldova’s government will now compensate the concessionaire for the time and money they invested in good faith, although previous administrations have indicated it would “cost the state millions”.

    Initially launched toward the end of 2018, Moldova’s CBI program was placed on a moratorium just months later, a freeze that was once more extended earlier this year. Domestic political instability and the frailty of the governing multiparty coalitions of ideologically disparate parties saw the program subject to conflicting messages and indecisiveness on the part of the country’s authorities.

    “Moldova could have been the perfect example of CBI creating societal value. There is need for both significant infrastructure investment and economic catalysts to halt the drain of young people leaving the country – MCBI could have been that catalyst. As it looks now, the Moldovan people will go without the significant benefits of what would have been an outstanding economic opportunity.”

    In the space of a year, Moldova has had three different governments, each with a different stance on the program. It is under the auspices of the Ion Chicu administration, in office since November, that the saga now looks to be coming to a definite end.

     

    Source: imidaily.com
    Published: 21 June 2020

  • Trump Jobs Boast Undercuts New High-Skill Immigration Restrictions

    Donald Trump’s recent effusive remarks on jobs and the U.S. economy contradict the administration’s legal and policy rationale for imposing new immigration restrictions on H-1B visa holders, international students and others, note attorneys and analysts.

    “This is outstanding, what’s happened today,” said President Trump in remarks on June 5, 2020, after the release of the latest jobs report. “Now, they thought the number would be a loss of 9 million jobs, and it was a gain of almost 3 million jobs. . . . I think it was incredible in a couple of ways. Number one, the numbers are great, and this leads us on to a long period of growth. We’ll have the greatest – we’ll go back to having the greatest economy anywhere in the world. Nothing close.” (Emphasis added.)

    Trump predicted the economy would continue to improve. “And I think we’re going to have a very good upcoming few months,” he said. “I think you’re going to have a very good August, a very good July, but a spectacular – maybe spectacular September, but a spectacular October, November, December. And next year is going to be one of the best years we’ve ever had, economically. And if you look at the numbers, they bear it out.” Chief economic adviser Larry Kudlow made similar statements. And in June 10, 2020, Senate testimony, Treasury Secretary Steven T. Mnuchin said, “We remain confident that the overall economy will continue to improve dramatically in the third and fourth quarters.” (Note: article was updated to reflect Mnuchin testimony.)

     

    Source: Forbes.com
    Published: 10 June 2020

  • Cabinet Approves Regulations to Tighten Up Citizenship Programme (Updated)

    The cabinet on Wednesday approved regulations to the citizenship by investment programme, which it says ties the scheme to anti-money laundering legislation.

    Interior Minister Nicos Nouris said the regulations would be sent urgently to the House.

    Nouris said the linking of the scheme to anti-money laundering laws, was an important provision which would help in the execution and examination of applications for the so-called golden passports.

    “Another feature of the new programme is the tightening of regulations, so that there is a revocation of the granting of citizenship in a clear way,” the minister said, “as in cases where it was found that a candidate for naturalisation was either involved or has been convicted of a serious crime.”

    He said the government had previously “encountered some difficulties” in revoking passports.

    Financial criteria to secure citizenship will remain the same, Nouris said. This involves a €2m investment plus the purchase of a house worth €500,000 plus VAT.

    “We have made it possible for alternative investing options for those who will join the programme such as participating in businesses or participating in Cypriot companies by acquiring share capital,” Nouris said.  Candidates must also give €75,000 towards the government’s housing policy and the same amount for the research and innovation foundation for the development of innovative business activities.

    “Together with decisions already taken by the Council of Ministers last year, we have made the Cypriot investment programme extremely reliable with very robust and strict criteria,” said Nouris.

    “This is being supplemented today with regulations that will make it no longer possible, after some in the past have made a mockery of the programme, to question the credibility of the programme that the Republic of Cyprus has established. We believe that by introducing the interconnection between the programme and the laws the central bank itself uses against money laundering, we are adding a new layer to the scheme,” the minister said.

    Earlier this year, a European money laundering watchdog cautioned that the secretive investment-for-passports programme run by Cyprus was vulnerable to money laundering and fraught with risk.

    The Council of Europe’s anti-money laundering body Moneyval called on the Cypriot authorities to pursue more aggressively money laundering from criminal proceeds generated outside of Cyprus, and take a more proactive approach to the freezing and confiscation of foreign proceeds.

    Cyprus launched the scheme offering passports for an investment in 2013, with more than 3,000 people gaining citizenship through the programme. Moneyval, said that, although Cyprus had broadly taken measures to mitigate key money laundering risks, the risk of vulnerabilities in the investment programme had increased “exponentially” via real estate, the investment vehicle of choice.

    Last November, the government announced it would start procedures to strip the citizenship of 26 individuals following revelations that passports had been granted to a suspect Malaysian businessman, persons tied to Cambodia’s authoritarian government and a Kenyan billionaire under investigation for tax evasion by the authorities in Kenya.

    Nouris said the decision to operate the investment programme, like any such investment programme in an EU country, “is an inalienable right of the nation-state and its national legislation”.

    “What we as a member state have done is to inform the EU,  and in fact we have exhaustively presented the provisions and criteria of our programme because we have nothing to hide, but more than that we want to do away with these rumours surrounding the programme that Cyprus had abused this scheme. There is no such thing,” Nouris said.

    He added that the government had already set a maximum of 700 naturalisations per year. He said this was not the right time to reassess that number due to the economic fallout from the coronavirus pandemic.

     

    Source: cyprus-mail.com
    Published: 10 June 2020

  • Boris Johnson Offers Refuge, British Citizenship Path for Nearly 3 Million Hong Kongers

    British Prime Minister Boris Johnson pledged Wednesday to overhaul immigration rules to grant almost 3 million Hong Kong residents a pathway to British citizenship, a response to Beijing’s move to impose a far-reaching security law here that many fear will dismantle the city’s political freedoms.

    Johnson’s vow comes as the United States, Canada, Australia and others face pressure from lawmakers and human rights groups to offer residency to Hong Kong people fleeing deteriorating political circumstances in the former British colony, which was promised a high degree of autonomy under the terms of its 1997 handover to China.

    London’s move, which Johnson said he would implement when China formally enacts the security law, could emerge as among the most significant ramifications of Beijing’s effort to undercut Hong Kong’s freedoms and bring the city more closely under the Communist Party’s authoritarian rule. It would potentially grant British residency and working rights to up to 40 percent of Hong Kong’s population, raising the specter of a brain drain from the Asian financial center.

    In op-eds published in the South China Morning Post and the Times of London, Johnson said the Chinese security law — which will criminalize broadly worded offenses such as sedition, subversion and foreign interference — gives Britain “no choice but to uphold our profound ties of history and friendship with the people of Hong Kong.”

    Specifics of the new law are scant, but the approved proposal will allow Chinese security forces to operate in Hong Kong for the first time, enabling them to crush dissent as they do on the Chinese mainland. Hong Kong has been rocked in recent times by widespread protests calling for greater democracy and opposing Beijing’s tightening grip.

    Johnson wrote that his government would allow holders of British National (Overseas), or BNO, passports to come to Britain for a renewable period of 12 months and gain the right to work. The move “could place them on a route to citizenship,” he said.

    These passports, a holdover from British rule issued to people born before 1997, currently allow holders to stay in Britain for six months but do not afford work rights or residency. About 350,000 people in Hong Kong hold these documents, but an additional 2.5 million are eligible.

    China’s Foreign Ministry said Wednesday that Britain has no jurisdiction over Hong Kong. Britain must “step back from the brink” and “stop interfering in Hong Kong’s affairs and China’s internal affairs,” spokesman Zhao Lijian told reporters.

    As the former colonial ruler, London was a signatory to the Sino-British Joint Declaration in which China agreed to preserve Hong Kong’s political freedoms and way of life until 2047.

    Hong Kong’s government declined to comment Wednesday and referred The Washington Post to statements by China’s Foreign Ministry.

    Lawmakers in other Western countries have issued similar calls to offer refuge to people fleeing the crackdown in Hong Kong, although the BNO passports give Britain a relatively easy route to welcome residents of the territory. This week, Senate Majority Leader Mitch McConnell (R-Ky.) said the U.S. response should “mirror those of other democracies who have opened their doors to Hong Kongers fleeing oppression.”

    “Our nation has a rich heritage of standing as a beacon of light and freedom, from refugees of war to those escaping the Iron Curtain,” he said. “We should exercise it again for the people of Hong Kong.”

    President Tsai Ing-wen of Taiwan has said her government is also working on measures to allow Hong Kongers to move to the self-governed democracy to live and work.

    Hong Kong protesters have repeatedly demonstrated outside the British Consulate and have pressed the British government to allow BNO passport holders a pathway to full citizenship. Since China announced it was imposing the security law by fiat, bypassing Hong Kong’s legislature, dozens have flocked to renew those documents, local media reported.

    Rana Mitter, director of the University of Oxford’s China Center, said Johnson’s move underscores the “very significant turn — not 180 degrees, but let’s say 90 degrees” — over recent months in the British government’s approach to China. He said that for Britain, “it’s becoming clearer that on certain issues, including maintenance of guarantees under the joint agreement on Hong Kong, it is not willing to be silent.”

    By offering a path to citizenship for a significant number of people, the Johnson government can send a strong signal after Brexit that its departure from the European Union was “not purely about drawing up the immigration drawbridge,” Mitter said.

    There has long been a strong sentiment in sections of Britain’s ruling Conservative Party that the country did not do enough for Hong Kong during the handover and that they want to do more now.

    YouGov poll conducted last week found that more Britons support than oppose giving BNO passport holders greater rights to live and work in Britain. About one-third were undecided.

    Still, some in Hong Kong expressed skepticism about leaving, daunted by the prospect of navigating life in the United Kingdom.

    “The unemployment rate in the U.K. is high,” said Ken Chong, a 30-year-old BNO passport holder who works at a bank in Hong Kong. “I’m not sure it will make a big difference for BNO holders, but as long as they are pressuring the Chinese government, then that’s a good move.”

    Wayne Ma, a social media editor in Hong Kong, said he would not consider moving to Britain, because he could not afford to live there.

    “I wouldn’t count on Britain to save Hong Kong,” he said. “I think it is unable to even fend for itself.”

    Source: Washingtonpost.com
    Published: 4 June 2020

  • Qatar- Cyprus is Looking to Become a European Hub for Investment

    Cyprus’s ‘health-over-wealth response to the pandemic has made the island an increasingly desirable place for investors, according to new global citizenship figures.

    Applications to invest and stay in Cyprus jumped by 250% in the first quarter of 2020 compared to the same period in 2019. Data analysts also predict a further shift in global movement with those who can afford it choosing to live in countries that have better weathered the crisis.

    Global strategy adviser Parag Khanna, founder of FutureMap, said, ‘The combined effect of the Covid-19 pandemic on public health, the global economy and social behaviour may augur deeper shifts in our human geography — and our distribution around the world.

    ‘As the curtain lifts, people will seek to move from poorly governed and ill-prepared places to more proactive countries with greater resilience and better medical care.

    The Mediterranean island of Cyprus which boasts 320 sunny days a year has always profited handsomely from tourism, pulling in €54.6mn in 2019.

    However, when the pandemic started to run unchecked throughout Europe, Cyprus closed all airports and shut up shop. These early restrictions have largely paid off.

    The latest figures released by the government show the total number of coronavirus cases on the island at 935. The health ministry has recorded 17 deaths.

    Tourism has paid a heavy price hotels remain closed, as do restaurants, and the island’s beaches are almost empty, though restrictions on movement have been relaxed since May 21.
    It is not yet known when travel restrictions will be lifted yet there remains strong interest in Cyprus as a long-term destination rather than a holiday hotspot.

    The sharp rise in year-on-year applications for the island’s real estate-linked investment migration programme reveals a desire to live in Cyprus that experts predict will only be helped by the government’s swift response to the pandemic, not to mention recent studies which showed a strong correlation between severe vitamin D deficiency and mortality rates.

    Christian Kalin, chairman of the global citizenship firm Henley & Partners, said, ‘Investment migration has shifted from being about living the life you want in terms of holidays and business travel to a more holistic vision that includes healthcare and safety.

    Although ‘Golden Visa’ programmes have been criticised by the European Union, Cyprus is one of a number of countries offering permanent residency opportunities to investors. Other governments offering similar incentives include Australia, Austria, Antigua, St Kitts and Nevis, Tuvalu, Vanuatu, Portugal, Switzerland, Montenegro and Malta.

    These days, tourism is no longer the golden goose it once was and Nicosia-based research consultancy Sapienta Economics believes the country’s real GDP may only contract by between 3.5% and 9.2% in 2020 as a result of Covid-19.

    Director Fiona Mullen said: ‘Tourism remains a key driver of growth in Cyprus, accounting for 6.1% of GDP in 2019, and with obvious knock-on effects for sectors such as construction and retail.
    ‘However, its impact is not as big as it was in the past, having been overtaken by sectors such as finance and insurance, professional services and real estate.

    ‘We estimate that these days the total contribution of tourism to GDP is 12%, down from almost 20% in 2000.

    Since the financial crisis of 2008, Cyprus has been actively courting foreign direct investment into the country, offering a number of attractive incentives to establish the island as a world-class destination for international business activity.

    George Campanellas, CEO of the government agency Invest Cyprus, said, ‘In recent months we have seen increasing interest in investment opportunities on our island from several countries, including Qatar.

    Offering one of the lowest corporate tax rates in the EU as well as multiple exemptions for companies and individuals, the discovery of natural gas has helped bolster the government’s ambitions.

    As well as positioning itself as an energy hub in the eastern Mediterranean, Cyprus is fast becoming one of the top emerging investment fund centres in Europe. The boom in real estate and construction though slowed by the pandemic shows no sign of abating with prestigious large-scale projects continuing to attract investment as well as world-class stars such as Shakira and her footballer husband Gerard Pique, who have reportedly bought a huge new villa off the west coast of the island.

    Cyprus also has an enviable and globally-respected reputation in the maritime industry, with the island considered to be one of the most reliable and competitive shipping centres in the world in terms of services, registration fees and tax

    And the latest addition to the island’s business portfolio has even lured Hollywood hotshot Nic Cage over after the government gave production companies that film in Cyprus a choice between a cash rebate or tax credit, among other incentives.

    Campanellas said the end goal was to establish Cyprus as a world-class destination for international business activity and investment.

    While acknowledging the huge role holidaymakers play in the economy, he said a recent survey had shown a high level of satisfaction among investors at the government’s handling of the coronavirus crisis, which has all but killed tourism for 2020. Campanellas said, ‘Considering the current global circumstances, we know that the island cannot rely heavily tourism for the recovery of the economy and we actually have much more to offer the wider world. That’s why we put extra attention in implementing our strategic plan before the pandemic was even a consideration.
    ‘Our objectives are simple and attainable. We want more tech companies to move their headquarters to Cyprus, we want to promote Cyprus as a European centre for investment funds and fund managers, we want to strengthen the higher education sector, develop the filming and animation industry, and attract even greater investment in our renewable energy and tourism projects.

    ‘The world is changing and we are determined to be part of that change and emerge stronger from this crisis.

    Backlog of Investor Visa Applications in Limbo as Program Dies

    menafn.com

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