The 31-year-old who played for the Super Eagles on the international stage has become an Italian citizen.
Former Nigeria international Obinna Nsofor has taken to social media to celebrate his confirmation as an Italian citizen.
The former Lokomotiv Moscow and Inter Milan forward flaunted images of his newly-received passport that grants him free movement around Italy and other European countries without a visa.
Nsofor started his professional career at Chievo and enjoyed success with the Nigeria youth teams at the U20 and U23 levels before moving to the Super Eagles where he scored 12 goals in 44 appearances.
The former West Ham United player had a brief stint in the South African top-flight with Cape Town City that was reportedly cut short by his unconvincing return of just a goal in 13 matches.
The Government is clear that entrepreneurs play a key role in creating jobs and driving economic growth, which is vital to the prosperity of the UK. In June of this year, we announced a new Start-up visa route. This will build upon the successes of the current Tier 1 (Graduate Entrepreneur) route, expanding it to ensure that the UK can benefit from a wider pool of overseas talent looking to establish new businesses in the UK. Applicants will be endorsed by either a business or higher education institution sponsor.
We are announcing that we will build on this offer further by introducing a new Innovator route, for more experienced business people. This will replace the current Tier 1 (Entrepreneur) route and have a similar emphasis on endorsement by a business sponsor, who will assess applicants’ business ideas for their innovation, viability and scalability.
Alongside this, we will reform our Tier 1 (Investor) route.
These reforms will be introduced in the spring and will ensure the UK remains a world-leading destination for investment and innovation. We will shortly be publishing a Statement of Intent setting out the details of how the reformed routes will work and I will place a copy in the House Library.
We are also introducing wider changes through these Immigration Rules which demonstrate our commitment to supporting talented leaders in their fields, and promising future leaders, coming to the UK under the Tier 1 (Exceptional Talent) route. The changes will expand this route to provide for a route of entry for leading architects endorsed by the Royal Institute of British Architects, under the remit of Arts Council England (ACE). This change builds upon other reforms to the route earlier this year, including doubling the number of places available, providing for faster settlement to existing leaders in their fields endorsed under this route, and expanding the route to leading fashion designers, also endorsed under the remit of ACE. We will continue to work closely with our partners in this route to attract more leading international talent to the UK.
More broadly, the changes also include a number of minor, more technical changes to our Tier 1 and Tier 2 routes for highly skilled workers. These changes will be made to ensure the Immigration Rules remain up-to-date and for consistency purposes.
The Government greatly values the roles played by our charities and religious institutions and those who wish to come to the UK to contribute to these organisations are extremely welcome. However, there are some issues with the routes as they currently operate.
Our immigration system makes specific provision for both Ministers of Religion and those coming as religious workers. This distinction between the two roles reflects the importance we place on our faith leaders speaking English to a high standard, whilst at the same time still permitting other members of religious communities to contribute to the UK in non-pastoral roles.
Whilst it is not the intention of the Tier 5 Religious Workers route, our current rules could permit religious workers to perform roles, that include preaching and leading a congregation, without first being required to demonstrate that they speak English to an acceptable standard. To address this, we are prohibiting Tier 5 Religious Workers filling roles as Ministers of Religion and direct them instead to do so through the correct Tier 2 Minister of Religion sub-category. This will require Ministers of Religion to demonstrate a strong command of English and ensure they can interact with the community around them.
The Tier 5 arrangements for Religious Workers and Charity Workers have always been intended to provide for only limited periods of residence in the UK of up to two years. We have however seen instances of migrants in these categories repeatedly applying for consecutive periods of leave, in effect achieving ongoing residency in the UK. We will therefore introduce a ‘cooling off period’, preventing Tier 5 Religious Worker and Tier 5 Charity Worker visa holders from returning to the UK, via these immigration routes for 12 months after their visa expires. This change ensures that we will continue to welcome those coming to make a contribution to our religious and charity organisations, whilst at the same time underpinning the Government’s intention that these are temporary routes.
On 6 September the Home Secretary issued a Written Ministerial Statement (HCWS940) announcing the introduction of a new pilot scheme for 2019, enabling non-EEA migrant workers to come to the UK to undertake seasonal employment in the Horticultural sector. These amendments will set out the legislative framework for introducing this pilot.
This small-scale pilot will test the effectiveness of our immigration system at alleviating seasonal labour shortages during peak production periods, whilst maintaining robust immigration control and ensuring there are minimal impacts on local communities and public services.
The organisations chosen to fill the role of scheme operators for this pilot have been selected following a fair and open selection process, undertaken by the Department of the Environment, Food and Rural Affairs.
The formal date of implementation for this pilot will be announced in due course.
The UK government may not have much influence with the European Parliament these days, but it has provided an object lesson in how to manage investor migration sensibly and for the benefit of its citizens.
According to reports, potential investors will have to agree to undergoing a thorough audit of their financial assets, proving they have control of the required capital for at least two years, and will require audits to be undertaken by suitably regulated UK firms.
Most notably, it appears the UK government recognises the value of investment migration and desires any investment made by individuals to have a greater impact on the UK economy, which is why it is apparently looking at scrapping its own government bond option in favour of directing investment into active and trading UK companies.
The IMC welcomes recent comments made by immigration minister Caroline Nokes, we urge the European Parliament and European Commission to take note.
In October this year, the European Parliamentary Research Service (EPRS) released a report that made it abundantly clear the European Parliament regards investment migration as an inherently corrupt practice.
The EU’s recourse was to recommend that CBI programmes be phased out entirely. By contrast, the UK is recommending a process of due diligence that goes far beyond other forms of granting residence or citizenship rights, but still protects the legitimate movement of capital and people, which is essential to the contemporary global economic model.
Canada can play a key role in strengthening the state of multilateralism worldwide, the president of the United Nations General Assembly says, amidst attacks from U.S. President Donald Trump and other world leaders on institutions such as the UN.
Maria Fernanda Espinosa, a former Ecuadorian cabinet minister who’s now president of the General Assembly, met with Prime Minister Justin Trudeau in Ottawa on Monday to express her gratitude for Canada’s support of the UN. The Liberals campaigned in 2015 on a promise to re-establish Canada’s place on the world stage and improve its relationship with the UN, after a decade of strained relations between the previous Conservative government and the multilateral institution. Multilateralism refers to the practice of an alliance of multiple countries working together in pursuit of common goals, such as maintaining worldwide peace and security.
“We see that there are some countries that are not so keen to embark into multilateral solutions to global challenges,” Ms. Espinosa told The Globe and Mail. “Canada is such an important, reliable partner to multilateralism and I think that the practices, the policies, the good examples need to be shared across the border.”
Mr. Trump has led an attack on multilateralism and global co-operation since becoming President. He used his speech to the UN General Assembly in September to tout his “America First” approach, reject globalism and demand respect for U.S. sovereignty.
Ms. Espinosa said while the multilateral system goes through “ups and downs,” the majority of UN member states believe in the institution. However, she said the UN has to be prepared to handle dissent and countries that decide to not be part of some processes and agreements.
“If a member state is not prepared to join, our hope is that at some point, they will reconsider and rejoin because there is no other way … to address to global challenges than with collective action and strong global leadership.”
Ms. Espinosa said she hopes the success of major world deals such as the Paris climate change agreement, the Sustainable Development Goals and the Global Compact for Migration can convince countries opposed to such agreements to join.
Canada will join other countries in adopting the Global Compact, the first-ever UN agreement on international migration, in Morocco next month. The non-binding agreement aims to mitigate factors that drive migrants out of their home countries, reduce the risks they face if they are forced to leave and create conditions that allow migrants to contribute to society.
The government’s actions on migration have been criticized by the Conservatives. They say Canada should not sign the Global Compact given the Liberal government’s “severe inability” to manage the arrival of thousands of asylum seekers at the Canada-U.S. border over the past two years. Nearly 38,000 asylum seekers have illegally entered Canada – mostly through Quebec – since January, 2017, putting immense pressure on Canada’s refugee system.
Ms. Espinosa, however, applauded Canada’s leadership on the migration front, particularly the federal government’s decision to welcome Syrian refugees and its support for the Global Compact. She said more countries need to adopt Canada’s immigration policies and open their doors to refugees.
Allegations that foreign advertisers offer low-priced offers to access the Citizenship by Investment Programme (CIP) are misrepresentations, according to St. Kitts and Nevis and CBI officials, who indicate the Government takes very seriously. Such activities have never been permitted or been endorsed.
CEO of the CIB Investment Unit Les Khan, recently reinforced this position while speaking at the International Real Estate and Investment Show in Abu Dhabi and the 12th Global Residence and Citizenship Conference, hosted by Henley and Partners in Dubai.
During the same meetings, Khan discussed the allegations during a series of one-on-one meetings with agents across those territories to confirm they are maintaining the Federation’s long-standing policies, which are unchanged.
“Our programmes and the different funds on offer to investors and developers around the world have proved to be resilient and sustainable by continuing to uphold both their integrity and market values,” Khan explained. “This means the income flows from the programmes directly into the Government to benefit of the country. The provisions have been unchanged from the level at which they were promoted.”
The St. Kitts and Nevis Government responded to the alleged reduced rates indicating the following minimum investment levels apply for a single applicant, with no exceptions:
• US $150,000 for the Sustainable Growth Fund (SGF);
• US $200,000 for a joint investment in real estate;
• US $400,000 for an investment in real estate; and
• US $250,000 for the Sugar Industry Diversification Foundation (SIDF).
Investments below the legal threshold unacceptable
A Government statement said, “Not only has Government never authorised any acts of Programme misrepresentation, but, quite to the contrary, the Government has taken active steps to eradicate them.”
Two entities were recently identified as being in breach of Programme guidelines. The Citizenship by Investment Unit (CIU) has listed them as entities not authorised to submit an application for Citizenship by Investment on their behalf or on behalf of any other person on the official website.
Khan explained an applicant does not qualify for citizenship unless they have made the appropriate investment. A person wishing to apply via the real estate option must provide the corresponding purchase and sale agreement, which must be in keeping with Regulations thresholds. Any person found to have fraudulently claimed to have submitted the full payment will not be approved for citizenship.
The Government of St. Kitts and Nevis reiterates its commitment to uphold the integrity and legitimacy of St. Kitts and Nevis’ Citizenship by Investment Programme and takes disciplinary action against anyone who breaches the laws, regulations and policies governing the Programme by acts of misrepresentation.
The Government also addressed allegations that an Authorised Agent received a letter supposed to be from the CIU authorising an application for Citizenship by Investment via the real estate option for US $150,000, a value below the Programmes requirements.
The letter was never sent by the CIU
The Government is investigating the matter and will take appropriate measures. The Unit thanked those who brought this information to its attention. It encourages anyone possessing any indication of wrong-doing in relation to the Programme to inform the Unit immediately. The Unit is committed to ensure this type of activity does not occur and is devoted to providing all Authorised Agents with a level playing field.
The St. Kitts and Nevis CBI Programme is the world’s longest-serving and most prestigious programme offering citizenship in exchange for an investment in the country’s economy. All Programme investment routes are designed to bring further socio-economic prosperity to the Federation, to benefit all St. Kitts and Nevis citizens.
“In addition to delivering quality and integrity in our programme, we will continue to innovate so that we retain our enviable position both as the originator of Citizenship by Investment and as the respected market leader in this field, Khan said.
Regulations unchangeable, discounts prohibited
During his activities in Dubai and Abu Dhabi, Khan reiterated the Government’s position that they discourage agents from selling outside the regulations and there are no Government-sanctioned discounts on any of the product offerings.
Khan noted that for the Sustainable Growth Fund, all monies are received into the Consolidated Fund based on the number of individuals on the application. International marketing agents receive a commission only after approval and funds are received.
In discussing the procedures required to complete a real estate application, Khan emphasized these transactions are based on a sale of either US $200,000 or US $400,000. He said the application must be accompanied by a purchase and sale agreement. Citizenship is granted only after receipt of the relevant Government fees and a Memorandum of Transfer is provided. Alternatively, the face amount must be deposited into escrow.
During Khan’s meetings attendees said they respected the Federation’s Programme and knew it had a high ranking.
The UK’s Financial Times Special Report in its publication “Professional Wealth Management: A Guide to Global Citizenship the CBI Index 2018” reported that St. Kitts and Nevis’ Citizenship by Investment (CBI) Programme has been acknowledged as an industry leader in the world’s first comprehensive guide to countries that offer citizenship in exchange for investment: the CBI Index.
The St. Kitts and Nevis Programme was compared with 11 other countries that offer CBI programmes and finished on top in four out of the seven components tested. These included due diligence; speed and ease of processing applications; and mandatory travel or residence requirements. St. Kitts and Nevis rated the highest in due diligence, owing to its strict parameters around vetting a potential applicant, which includes collaborating with international partners and non-governmental organisations to perform thorough on-the-ground and online checks of the applicant.
“An integral part of my job is to uphold the Platinum Brand,” Khan explained. “My job is to ensure there is consistency in the way that our programme is marketed and managed by our agents and other service advisers.
“This includes seeking assurance that they do not promote products which the Government has not sanctioned as this may inadvertently cause confusion in the market. Spending time with marketing agents around the world therefore is time well spent.”
Looking to the future, Khan said the CBI Unit will continue to innovate and develop new programmes that are consistent with the Platinum Brand and which add value. He referred to the new, permanent citizenship option in the form of the Sustainable Growth Fund (SGF) is an example of this policy.
“The SGF marks a significant maturation in the citizenship by investment market, as the scope of the SGF is closely aligned to the 17 Sustainable Development Goals set by the United Nations to be achieved by 2030,” Khan explained. “What we do therefore as a country with our CBI is closely aligned to international standards.”
Recently, the EU Parliament published a draft report on financial crimes, tax evasion, and tax avoidance. This draft report “Concludes that the potential economic benefits of CBI and RBI schemes do not offset the serious money laundering and tax evasion risks they present; calls on Member States to phase out all existing CBI or RBI schemes as soon as possible[…]”
I took a few days to analyse the report and found:
33 misleading statements
13 unfounded/incorrect statements
8 biased statements
2 conflicting statements
That’s a significant amount. Some pages, frankly, were filled with misleading statements; see page 47.
As someone who produces many reports and reads even more, I will admit it’s quite normal to see mistakes and errors in any report, but if it is being used as the main evidence in a decision that will have an important impact, it had better be close to flawless. In this case, I found the report strongly opinionated, with many misleading and incorrect statements.
The basic mistakes
There were a few errors in the research, but most of the mistakes were made in how they used certain information to reinforce conclusions. There was a constant lack of rationale and logic in the construction of their arguments throughout the report. This includes mistakenly:
coupling tax schemes and RCBI (failing to actually highlight the schemes that actually do, e.g. Gibraltar and Jersey).
linking tax base erosion in the OECD with applicants of RCBI, 99 percent of whom are not from OECD countries.
assessing RCBI applicants as posing a high risk to tax evasion without any proof and singling them out when one could just as easily apply the same argument to any EU national or resident.
Accusing RCBI of a lax due diligence process when other immigration paths do not even have those mechanisms in place.
Conflicting statements
Overall the report leads the reader to believe that RCBI applicants benefited from special tax treatment and lax due diligence. It tries erroneously to point out facts singling out RCBI applicants when they are actually applicable to every other temporary resident and, sometimes, any other resident, foreign or national.
What is even more fascinating is that the authors, after pages and pages of linking RCBI with tax evasion and lax due diligence, candidly point out the obvious:
From a tax transparency perspective, even though the schemes do not themselves offer a solution to escaping reporting standards (and notably CRS), …
due diligence on criminal activity is a challenge that applies to any kind of migration.
As the OECD pointed out, CBI/RBI schemes do not in themselves offer a way to escape reporting under the CRS, which requires taxpayers to self-certify in all their jurisdictions of residence for tax purposes. Residence status granted by these schemes indeed does not necessarily grant tax residence status.
As a reader, I was genuinely baffled. I didn’t understand. During the whole report, I was having a headache because the authors were making false and illogical links. Now it looked like they knew all along and were trying to give themselves a lifeline if someone like me came out and pointed out the obvious.
This was truly shocking for me; if you know it’s not the case, why spend 72 pages arguing the opposite without a shred of evidence? It’s like a report saying potatoes are causing cancer for 50 pages, and randomly popping in a line that says, “even though there is not really proof cancer is linked to potatoes.”
The backhanded compliments
The report has a strong opinionated odor to it that is hard to miss. I found eight biased statements going in that direction. Also, the 72-page report named ‘Citizenship by Investment (CBI) and Residency by Investment (RBI) schemes in the EU – State of play, issues and impacts’ had half a page of positive remarks on RCBI, which were termed the economic impacts. Here are some of the positive remarks:
Quote 118 is taken from a report published in October 2014; logically, the latest data was most likely from the year 2013. In the EU, of the 20 recognizable RCBI programs in 2018, only five were created before 2012. If you don’t think it’s biased, the report then put forward a table of economic impact of the RCBIs it deems the most at risk.
During the report, we were confused about when the author means a few specific RCBIs and when they mean RCBIsin general (more on that later). The author starts the report stating that most of the 28 EU members have RCBIs, then evaluates and judges the quality of the economic impact on four schemes on different timelines. The report manages to take the widest time range of 2008–2018 to highlight 9B euro in 10 years. For comparison, I estimate the economic impact of RCBIs in the EU to be 8B euro in 2018 alone.
The one piece of evidence put forward
The whole report provides many accusations but supports them with only one example of how RCBI schemes can circumvent the CRS.
To be clear, an RBI applicant under the Portugal golden residence permit, when (and only when) choosing the real estate option, can circumvent CRS reporting to its homeland. Now before we point out the obvious, let’s first point out that this is the only example in the 72 pages of how RCBIs could lead to tax evasion and money laundering.
As most migration professionals know, any immigrant could do what is stated above. He just has to rent an apartment before opening a bank account. Most, if not all, immigration paths in Europe require an individual to demonstrate to the authorities proof of accommodation before applying for a temporary resident permit. Basically, pretty much every immigrant in Europe circumvents CRS based on that example. This really is the story of this report, accusing RCBI applicants of potential risks that could be laid on any other migrant.
But the report goes further than that and asks for blatant discrimination against RCBI applicants, unsupported by facts. That somehow CRS tax evasion should apply more to RCBI applicants than everyone else in the community, whether they are nationals or immigrants having used other paths. Basically, if you get admitted through an RCBI, you are high risk and should have the most over-the-top due diligence done on you, whereas if you come from any other type of immigration path you are okay and nothing is done to assess your risk.
The only possible tax evasion I see being relevant to the EU is when a third-country national, resident in a European country, stays over 183 days, become a tax resident, and doesn’t declare his worldwide income for taxation when obliged. But then again, his situation applies to obviously everyone, not only RCBI applicants.
Which RCBI schemes are being targeted?
During the report, it remains vague whether their negative critique of RCBIs is targeted to a handful of programs or all of them. They define for the report the scope of RCBI to be those inside the circle. But the language starts dissipating that line as you go through the report.
The whole methodology process of distinguishing which immigration program falls under their definition of RBI and which of those are targeted in the report can lead to confusion. I don’t expect someone not expert in the subject to clearly understand it. It certainly didn’t seem to be the case when the authors of the draft report on financial crimes, tax evasion and tax avoidance of Nov. 9, 2018 “calls on Member States to phase out all existing CBI or RBI schemes as soon as possible”.
This leaves us with question marks:
Did authors Jeppe Kofod and Luděk Niedermayer writing the draft report not correctly read the RCBI schemes in the EU report specifying that only a few programs were causing concerns?
Did authors Jeppe Kofod and Luděk Niedermayer get misled by the RCBI schemes in the EU report to believe that these problems were actually related to RCBIs in general?
Did the authors Jeppe Kofod and Luděk Niedermayer carefully read the RCBI schemes in the EU report and not see all the holes in the analysis?
What is their definition of RCBI schemes? The RCBI schemes in the EU report created three categories:
EU level CBI/RCBI, which includes all active investment programs, e.g. entrepreneur programs and startup visa.
The RCBI schemes for the purpose of the study that exclude entrepreneur and startup programs and schemes that offer temporary residence.
The RCBI schemes of concern in countries with special tax benefits.
Why would the authors Jeppe Kofod and Luděk Niedermayer call for drastic action on policies that have a significant economic impact?
What conclusions to draw from all this?
After two weeks spent analysing both reports, I’m truly left baffled. Were the authors short of time? Were they given a goal to demolish RCBIs and told to find arguments that could stick? It’s really puzzling how something so biased and completely lacking any logical evidence can be used to potentially knock off billions from the EU economy.
I’m not going to draw unfounded conclusions on the motivations behind these reports and why the name Vera Jourova seems to be a constant. I would rather educate people on how to use RCBIs, including entrepreneur and startup visas, to provide economic relief to an economy. I’m not saying that the RCBI schemes in the EU are efficiently built; rather, I’m saying don’t throw the baby out with the water.
I humbly call on the EU to standardize the due diligence process and exercise oversight of all RCBI program in its jurisdictions. This call is not to protect the EU from unpleasant characters entering the country, but rather to protect the RCBI industry from further unfounded criticisms and biased reports. For the first reason, the EU would need to apply the same level of due diligence on everyone entering the EU, from other temporary residents to tourists.
We have decided to publish all misleading statements in the 2018 STC Government Report, due in the coming month.
The Estonian parliament on 5 December passed an amendment to the country’s Commercial Code to allow businesses registered in Estonia to use bank accounts in any European Economic Area country when registering share capital.
The amendment removes the requirement that limited companies must use an Estonian bank account when registering share capital. From January 2019, they can instead use a “credit or payment institution in the European Economic Area” for this, the Estonian e-residency team said in a blog post.
“This change means that all limited Estonian companies can conduct all their business activity using any business account for their company from across the Europe Economic Area for the first time,” the e-residency team added.
According to Kaspar Korjus, the managing director at e-residency, there is never one banking solution that suits every company or is available to every company, whether it is run by a citizen, a resident or an e-resident.
The change takes effect in January 2019
“That’s why the most important way to improve business banking for Estonian companies is to provide greater freedom of choice. This amendment to the Commercial Code will help more people around the world benefit from e-residency and unlock greater investment into Estonia, while preserving the trusted nature of our business environment,” Korjus said.
The Estonian Commercial Code includes a requirement for limited companies to register a minimum share capital of €2,500, which can be deferred for up to ten years from the company’s founding. During this time, the company can use business banking either inside or outside of Estonia. However, when they are ready to register share capital though, the previous Commercial Code stated that only an Estonian credit institution could be used. This effectively compels Estonian companies to open an Estonian bank account at some point, regardless of whether they want it or ever use it for anything else.
The revised Commercial Code, which takes effect from January 2019, will instead state that share capital must be registered using “a credit or payment institution in the European Economic Area (EEA)”, which includes all EU countries plus Iceland, Liechtenstein and Norway.
This not only expands the countries where the banking providers can be based, but also the types of banking providers offering these business accounts. A “credit institution” is a bank, but a “payment institution” covers many financial technology companies too, the e-residency team explained.
Non-residents benefit the most
“The change to the Commercial Code will benefit all Estonian limited companies that want to take advantage of this greater freedom in business banking, whether they are run by citizens, residents or e-residents. However, non-residents (which includes e-residents) have the most difficulty obtaining an Estonian bank account for a combination of reasons. For a start, Estonian banks still choose to verify their clients in person so a visit to Estonia is required, which can mean quite a large investment of time and money depending on where they are in the world.
“In addition, banks have more complex risk considerations due to the nature of their business models and so, for understandable reasons, are not able to serve the broad spectrum of non-residents whose companies would make a positive contribution to our country.”
“This change will have a significant effect on improving the e-residency programme and helping more people around the world benefit from it, while unlocking foreign investment into Estonia,” the e-residency team added.
The British government is preparing to suspend a special visa program that allows wealthy investors to fast-track their settlement in the country, part of a new drive to crack down on money laundering.
The Tier 1 visas will be suspended from midnight on Dec. 7 until the Home Office introduces tighter restrictions to tackle corruption and organized crime.
“We will not tolerate people who do not play by the rules and seek to abuse the system,” Immigration Minister Caroline Nokes said in a statement on Thursday.
What are Tier 1 visas?
They are not called “golden visas” for nothing. They provide a faster route for wealthy investors coming from outside the European Union and Switzerland to settle in Britain.
The program was introduced in 2008 to attract wealthy foreign nationals willing to invest large amounts of capital in Britain. Billions of pounds have poured into London over the past decade, following an influx of global elites who have benefited from the program.
It peaked in 2014, after 1,172 visas were granted.
The visa program has been especially popular among Russian oligarchs and wealthy people from China and the United Arab Emirates. More than 1,000 investment visas were granted in the 12-month period ending in September 2018.
Can you afford a golden visa?
To qualify, foreign nationals must put down a minimum of 2 million pounds (around $2.5 million) as an investment in Britain.
Such an investment in United Kingdom bonds, share capital or companies allows investors to apply for permanent residency within five years.
For a £5 million investment, they can apply for permanent residency after three years.
An investment of £10 million can open the door to permanent residency after two years.
After that, the nationals theoretically could apply for citizenship.
Is there a Russian link?
The visa program has always had its critics, with anticorruption campaigners railing against Britain’s openness to ill-gotten riches from overseas and the foreigners who invest them. But it reached a fever pitch after a former Russian spy, Sergei V. Skripal, was poisoned on British soil with a nerve agent in Salisbury, England.
Prime Minister Theresa May’s government signaled then that it would review the cases of 700 Russians who were granted visas to live in Britain under the Tier 1 visa scheme. Soon afterward, the visa renewal for the Russian billionaire owner of the Chelsea football team, Roman Abramovich, was mysteriously delayed.
Mr. Abramovich later surfaced in Israel, where he had apparently immigrated under the law of return, which guarantees citizenship to any Jew wanting to move there.
What are the problems?
Criticism of the program can be traced as far back as 2014, after visa applications soared. The government’s Migration Advisory Committee filed a report that said the scheme brought limited economic benefits because most of the investors had bought fixed-interest loan securities known as gilts, meaning that they were effectively loaning the government money instead of investing in the country.
“We do not need such investment to fund the deficit. We are selling around £300 million of gilts every day — therefore the capital market is working very efficiently,” the report said.
While investors and their families spend money in Britain and generate revenue, the favorable impacts are typically exaggerated, the committee found. As the benefits were being questioned, the authorities grew concerned over the origins of funds being invested into the country.
This year, the government introduced “unexplained wealth orders,” forcing those suspected of serious crimes to explain the provenance of their wealth and assets.
The National Crime Agency estimated that £100 billion in “dirty money” was being funneled into Britain each year, mainly from Russian, Nigeria, Pakistan and the Far East.
What restrictions are planned?
After the visa program is suspended on Friday, the Home Office will conduct an investigation before reintroducing it with stricter regulations.
Under the new rules, visa applicants will have to provide audits of all their financial and business interests using firms registered in the United Kingdom, and show that they have had control of their funds for at least two years, the Home Office said.
Changes will also be introduced to increase the benefits of the investment to British companies.
In a new historic achievement, the UAE passport has become the strongest passport and now ranked first globally.
The exceptional achievement on December 1, 2018, coincides with the ‘Year of Zayed’ and country’s 47th National Day, and is added to country’s numerous accomplishments in various domains.
The UAE, under the leadership of The President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has surpassed all expectations after accomplishing this achievement
This success was achieved by the Ministry of Foreign Affairs and International Cooperation under the leadership of Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation.
In his remarks on the occasion, Sheikh Abdullah said, “This achievement is a true reflection of the legacy of Sheikh Zayed, the Founding Father of the UAE. It also underscores what can be achieved through positive diplomacy, reflecting the UAE as a confident and engaged force at the global stage.”
The UAE passport was ranked first by Passport Index, an interactive online tool that provides users with insights on passports with the ability to compare and rank the world’s passports. The ranking is based on freedom of movement and visa-free travel to passport holders.
The UAE passport holder can travel to 167 countries without the need for pre-visa requirements, which is 84 per cent of the number of countries listed in the index.
The UAE passport was on 27th position in December 2016, and now has attained first place globally in December 2018.
This achievement mirrors the county’s civilised face, respect and appreciation at the regional and international levels. It is supported by a wise policy and leadership that has been working hard to build the country’s bright image abroad to make it a hub for wisdom, moderation, coexistence and peace.
The Ministry of Foreign Affairs and International Cooperation launched the UAE Passport Force initiative to place the Emirati passport on the list of the five most powerful passports in the world by 2021, however, the country has achieved this goal three years before the dateline.
The strength of the passport does not only represent the identity of the citizen but also an important factor affecting its access to global opportunities, ease of movement and quality of life.
The Passport Index issued by the Arton Capital, ranks countries’ passports based on the number of countries a passport holder can enter without obtaining a visa or obtaining it at the time of entry. The Index is a global benchmark for classifying international passports and reflects the world’s view on the power and impact of passport.
Armand Arton, Founder and President of Arton Capital, said that Passport Index is the most prominent rating of passport strength through an interactive platform that continuously monitors changes and developments, adding that it has become the world’s premier reference for governments.
“We continuously compare the passports of 193 countries and 6 regions of the UN members and work to collect data directly and continuously, all through publicly available information, government sources and international bodies. We determine the strength of the passport based on the ability of the citizens of a country to travel to another country without the need for a visa in advance and obtaining visa access from the airport,” said Arton.
He added, that the Emirati passport has witnessed unprecedented progress globally in the past few years, reflecting the international stature of the country. “We congratulate the UAE on this great achievement, and are pleased to work with the Ministry of Foreign Affairs and International Cooperation since the launch of the UAE Passport Force initiative,” he went on to say.
Through this achievement, the freedom of movement to many countries of the world is added to the list of priorities that the UAE offers to its citizens.
The positive impacts for ease of travelling are not only making it possible for UAE nationals to travel freely for tourism, but also have economic, developmental and even humanitarian benefits by facilitating trade and economic investment for individuals and institutions.
In line with a comprehensive vision of the development of the country and society, the UAE has a future agenda that embraces innovation, empowering the community and encouraging international cooperation and participation. These principles have been an integral part of the UAE since its establishment in 1971.
Europe needs a tougher approach on immigration in order to curb the growing threat of right-wing populists, Hillary Clinton said, calling on EU leaders to show their electorates that they can no longer “provide refuge and support.”
“I think Europe needs to get a handle on migration because that is what lit the flame,” Clinton said in an interview with the Guardian published Thursday.
The former U.S. Democratic presidential candidate suggested that immigration concerns in part contributed to Britain’s vote to leave the EU — which Clinton has previously described as the “greatest self-inflicted wound in modern history” — as well as her election loss to Donald Trump.
While Clinton said she admires German Chancellor Angela Merkel for her “compassionate” approach, she said it is “fair to say Europe has done its part, and must send a very clear message — ‘we are not going to be able to continue [to] provide refuge and support’ — because if we don’t deal with the migration issue, it will continue to roil the body politic.”
The Obama-era secretary of state also said Trump exploited the issue of migration during his 2016 election campaign and continues to do so in office.
“The use of immigrants as a political device and as a symbol of government gone wrong, of attacks on one’s heritage, one’s identity, one’s national unity has been very much exploited by the current administration here,” she said.
“There are solutions to migration that do not require clamping down on the press, on your political opponents and trying to suborn the judiciary, or seeking financial and political help from Russia to support your political parties and movements.”
The UAE Cabinet approved long-term visa system for investors, entrepreneurs, specialised talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents.
The decision of the Cabinet follows the decision approved earlier this year to grant investors a ten-year residency visa, as well as to grant residency visas of up to 10 years for specialists in the medical, scientific, research and technical fields, and for scientists and creative talents of culture and arts, including their spouses and children. The decision aims to maintain the position of the UAE as an optimal business environment.
The decision includes the terms and conditions for obtaining long-term visas for investors, entrepreneurs, specialized talents, researchers in the fields of science and knowledge, and outstanding students to attract talents in all vital sectors of the national economy. The visa benefits also include the spouse and the children to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth.
Investors
The decision includes the provisions to grant investors from UAE and broad a long-term visa. It defines two categories for investors: Investors in a property of a value of 5 million dirhams or more will be granted a residence for five years, and investors in public investments through a deposit, an established company, business partnership of 10 million dirhams or more, or a total investment of not less than 10 million dirhams in all areas mentioned as long as non-real estate investments are not less than 60per cent of the total investment, will be granted a renewable residency visa every 10 years.
The Cabinet decision outlines the following conditions for both categories:
The amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents
Investment retention for at least 3 years A standard financial liability with a financial solvency not exceeding Dh10 million
The long-term visa could also be extended to include business partners, provided that each partner contributes Dh10 million, the spouse and the children, as well as one executive director and one advisor.
The decision allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements.
Entrepreneurs
The decision also includes the terms to grant long-term visa to two categories of entrepreneurs: those having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country. Entrepreneurs will be granted a five-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements.
The benefits of the entrepreneurial visa include entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multi-entry visa period, with renewal for another six months.
Specialised talents and researchers in the fields of science and knowledge
The decision also includes provisions for granting a 10-year visa for specialized talents and researchers in the fields of science and knowledge for doctors, specialists, scientists, inventors. As well as creative individuals in the field of culture and art. The visa’s advantages include the spouse and the children.
All categories are required to have a valid employment contract in a specialised in fields of priority for the UAE, and the conditions for each category are defined as follows:
Doctors and specialists (at least 2 of the conditions mentioned below must be met)
Holder of a PhD degree from one of the top 500 universities in the world
Holder of an award or certificates of appreciation for the work in the applicant’s jurisdiction
Contribution to a major scientific research related to the work of the applicant
Published articles or scientific books in distinguished publications in the field of work of the applicant
Membership in an organization related to the work of the applicant, which requires excellent work to accept membership
PhD degree in addition to 10-year professional experience in the applicant’s field of work.
Specialization in areas of priority to the UAE (additional requirement for doctors)
Scientists must be accredited by the Emirates Scientists Council.
Holders of the Mohammed bin Rashid Medal for Scientific Excellence.
Creative individuals in culture and art must be accredited by the Ministry of Culture and Knowledge Development Inventors. Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy Exceptional Talents. Those who have exceptional talents that are documented by patents or scientific research published in world-class journals.
Executives: Owners of leading, well-known and internationally recognised companies – Holders of high academic achievement, professional experience, and position (eg, an engineer in a rare specialty with a university degree and working in a private company in the UAE). The inclusion of this category aims at maintaining current competencies and attract new competencies.
Outstanding students: The decision also includes provisions for granting a five-year visa to outstanding students with a grade of at least 95per cent in public secondary schools in public and private schools, and a distinction of at least 3.75 GPA upon graduation from universities within and outside the country. Benefits include families of the outstanding students.
10-year UAE visa policy will boost health, education
The new strategy fulfils a well-known success formula: Retention of home-grown talent and its indigenous contributions
The 10-year-visa policy announced this week by the UAE opens up new vistas of enduring opportunities in many domains, but the health and education sectors, understandably, enjoy a particular accentuation. The longevity of the visa for highly skilled health professionals directly translates into an enhanced profile of specialised, intensive, health-care skills that are critical assets, particularly in the lead-up to the UAE’s 2021 National Agenda goals. The sooner the top tier of medical professionals opt to make the UAE their operational base, the stronger the incentive for investors to come flocking to this market.
The true worth of experience can only be realised in its applicability and by helping retain specialised brain power, the UAE will fortify its appeal as a medical hub, which also includes the medical tourism objective, that is witnessing impressive growth year upon year. The long-term visa policy will also directly lead to a more stable demographic reality that will anchor progress as more of a guarantee than a projection. This principle works equally well in the field of education, with the five-year visa for students, and a 10-year-visa for high performers, working as a trigger for students to pursue a career in the UAE. For parents who opt to educate their children in UAE schools and universities, the prospects of their wards making a life here provides exceptional comfort and gratitude.
This strategy fulfils the oldest known success formula: Retention of home-grown talent and its indigenous contributions to the full spectrum of national contribution. The new visa policy, thus, will further strengthen the sectors, making UAE the country of choice for people from all walks of life.
UAE expats laud new visa policy changes
Policy reforms seen to benefit mostly jobseekers who can afford to pay visa renewal fee
Dubai: As the recently approved visa extensions started taking into effect this week, expatriates in the UAE have expressed delight, citing that jobseekers – aside from tourists and women– will stand to benefit the most from the new policy reforms.
Changes to the visa regulations in the country were rolled out on Sunday, October 21, and these include the extension of entry permits for tourists and visas for widowed and divorced women. These are part of the three Cabinet decrees that seek to strengthen the position of the UAE as one of the top destinations in the world.
Under the new policy, visit visa holders can get a 30-day extension without leaving the country at a cost of Dh600. This option can be availed of in two occasions, costing a visitor a total of Dh1,200 for a 60-day hassle-free stay in the UAE.
Beneficial for jobseekers
Some jobseekers interviewed by Gulf News have welcomed the new policy changes, citing that they can now conveniently extend their stay in the UAE without having to worry about exiting the country just to renew a visit visa, thus giving them more time to focus on their job search.
Expatriates who are on the lookout for employment opportunities would normally get a three-month tourist visa and in cases where their permits have expired and they have yet to find any suitable job offer, they take a short trip to a neighbouring country in order to get a new entry permit in the UAE.
This option, commonly known as a “visa run,” would entail not just visa fees, but airfare expenses and in some cases, hotel and other incidental costs, although some travel agencies have promised to offer visa and flight packages at a much cheaper rate.
“I think it can help reduce the expenses for us who are looking for a job and what’s more important is that it’s hassle-free. I just wish they extend it to three months instead of just one month, so we have more time to find a job,” said Susan, an expatriate from the Philippines.
“One month is not enough to find work. But if there’s no need to exit, I think that’s okay,” she added. Susan has recently been out of job and is looking for a new employer.
Michael Gilmore, managing partner of headhunting firm Jordan Forde, said the latest visa policy is “extremely beneficial” for expatriates who are looking for jobs.
“The Dh600 [fee] would be an investment if you are looking for a job in the UAE and very convenient for those involved in the stressful job hunt,” Gilmore told Gulf News.
Mahesh Dhakan from India, a small business owner based in Dubai, noted that there is often an inconvenience associated with visa extensions for foreigners , as it requires them to leave the country first before getting a new entry permit.
“This move is going to help us and make the process easy and more convenient. It will allow more flexibility in dealing with renewals and extensions of visit visas, especially for jobseekers. The extension will give them more time to look for the right job and remuneration,” Dhakan added.
Saving time, expenses
The new visa policy changes are being implemented by the Federal Authority for Identity and Citizenship (ICA). They don’t just provide visa extensions for visitors, but also for widowed and divorced women and their dependents, who will now get one-year residency visa extension without the need for a sponsor.
Brigadier Saeed Rakan Al Rashidi, acting director general for foreigners affairs and ports at ICA had said earlier that the policy changes will reduce the need for companies to recruit employees from outside the UAE, thus saving time and expenses for hiring additional or new staff. It also grants “longer grace period” for jobseekers to “find the suitable opportunities.”
“The decrees enhance labour market by providing chances for various establishments to utilize the competencies existed in the state and reduce the need for recruiting labour from outside the state.”
Wendy Shaw, a British expatriate, said the 30-day extension “may be considered as a blessing for those wanting to avoid the hassle and inconvenience involved with having to exit and return.”
“And the cost is reasonable for those who value their time. I am sure many visiting families and jobseekers will see the benefit and use this option rather than book a short flight for the purpose of renewing their visa,” Shaw added.
Bernard Aquino, another Dubai-based expat from the Philippines, noted that jobseekers who want more time to choose suitable employment will benefit the most from the new visa policy. “The visa extension will help them look for a job with better offer rather than settling for a low salary or take up jobs that are way below their qualifications”
However, some expats said that visa run packages offered by travel agencies would be a more budget-friendly option for those who don’t mind taking a short trip to a neighbouring country.
Such offers, which only require a visitor to fly from a UAE airport to another airport in neighbouring states like Oman, can cost Dh1,500, and in return, a three-month tourist visa can be secured.
“Some travel agents offer a package for a three-month tourist visa, plus flights to exit UAE, that costs Dh1,500. Whereas, if I extend my visa twice for Dh600 each and I get one month each time, the total expenses for a two-month extension would be Dh1,200,” said one jobseeker in Dubai.
Hence, Gilmore said, the new visa extension policy for visitors will be particularly beneficial for a certain “niche” of foreigners in the UAE.
“There will be a particular niche of individuals or jobseekers that will be able to afford the renewal of Dh600. In general, I understand that the UAE is trying to retain families and jobseekers for an extended period of time, but the difference between the Oman border run fee and the new renewal fee is significant,” noted Gilmore.
