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Germany has retained its position at the top of the Henley & Partners Visa Restrictions Index in the 2017 edition of the annual travel freedom ranking.

Global residence and citizenship advisory firm Henley & Partners produces its index in partnership with the International Air Transport Association (IATA), which claims to maintain the world’s largest database of travel information.

Even after losing visa-free admission to one country, Germany holds on to its top spot on the index for the second year running with access to 176 countries in total.

Sweden also remains static in second place, with 175 countries, and Denmark, Finland, Italy, Spain and the US jointly rank third, with their nationals enjoying access to 174 countries without a visa.

The UK, however, has slipped down yet another position this year to fourth, having shared first place with Germany for three consecutive years from 2013–2015.

Syria, Pakistan, Iraq and Afghanistan sit at the very bottom of the index, each with visa-free access to fewer than 30 countries worldwide. This shows a slight change from last year’s ranking, with Somalia rising out of the bottom four with access now to 30 countries, and Syria dropping into it with only 29.

Dr Christian H. Kälin, chairman of Henley & Partners, says: “We have witnessed several major events recently that are likely to have an impact on global mobility – including Brexit and the election of US President Donald Trump. Both can be interpreted as steps toward restricting movement and creating barriers to entry. This trend towards curbing travel freedom is already apparent in the shift in rankings on this year’s Visa Restrictions Index”.

The biggest mover in this year’s index was Peru, gaining 15 places.

“There is still huge disparity in the levels of travel freedom between countries, despite the world becoming seemingly more mobile and interdependent. Generally, visa requirements are a reflection of a country’s relationship with others, and take into account diplomatic relationships between countries, reciprocal visa arrangements, security risks, and the dangers of visa and immigration regulation violations,” explains Dr Kälin.

Dr Kälin adds that countries that offer the most important citizenship-by-investment programmes in the world continue to perform strongly on the index. “Malta offers the top-ranked investment migration programme globally and scores very highly with the world’s 10th most powerful passport and visa-free access to 167 countries. Austria is also in the Top 10 with a total of 173 countries and Cyprus is not far behind at 16, with 158 countries accessible without a visa.”

Source: c-mw.net

Singapore has kept its top spot amidst Southeast Asia as the country with the highest visa-free access, revealed the 2017 Visa Restrictions Index, an annual travel freedom ranking published by the global residence and citizenship advisory firm, Henley & Partners. The index is produced in partnership with the International Air Transport Association(IATA), which maintains the world’s largest and most authoritative database of travel information.

Climbing one spot from last year, Singapore ranks 4th globally – its highest ranking on the Index in 10 years – with visa-free access to 173 countries. The lion city remains number one in Southeast Asia, followed closely by neighbours Malaysia and Brunei Darussalam with visa-free accesss to 164 and 151 countries respectively. Malaysia ranks 2 nd regionally and 13 th globally, dropping one place from last year while Brunei Darussalam retains its 23rd global ranking.

The biggest climbers in the region were Laos (8th regionally, 88th globally) and Myanmar (9th regionally, 93 rd globally) rising two spots each from last year. Laos added one country to take its visa-free access total to 48 whilst Myanmar brought down its total to 42, one less than last year.

According to Dominic Volek, Managing Partner of Henley & Partners Singapore and Head Southeast Asia, although the size and make-up of the “Top 10” remains the same as last year, the changing geopolitical climate could well affect the rankings over the next 12 months.

“Over the last year alone, we have seen several major changes to the global political landscape – such as Brexit and US President Donald Trump’s travel ban – that will likely change global mobility as we know now. This year’s Visa Restriction Index is a reflection of the global shift in travel freedom, highlighting the impact of entry barriers and movement restrictions” said Volek.

In total, 48 countries lost ground over the past year, dropping between one and three places, and only 42 countries showed no movement at all. Germany holds on to its top spot on the index for the fourth consecutive year, with access to 176 countries in total. Sweden also remains static in second place with 175 countries, and Denmark, Finland, Italy, Spain and the US jointly rank third, with their nationals enjoying access to 174 countries without a visa.

The UK, however, has slipped down yet another position this year to fourth, having shared first place with Germany for three consecutive years from 2013–2015. Syria, Pakistan, Iraq and Afghanistan sit at the very bottom of the Henley & Partners Visa Restrictions Index, each with visa-free access to less than 30 countries worldwide.

The biggest movers in this year’s index were Peru and Ghana. Peru was the highest individual mover, gaining 15 places. Island nations also made a strong showing, with the Marshall Islands, the Solomon Islands, Micronesia, Kiribati and Tuvalu all gaining over nine places. In contrast, Ghana showed the most negative movement, losing four places in one year.

The fortunes of the emerging economies of the BRICS nations were varied. Brazil and China both increased their standing on the index, moving up three and two ranks respectively. However, the other three all lost ground: Russia dropping three places, India two, and South Africa one.

“Despite the world becoming seemingly more mobile and interdependent, there is still huge disparity in the levels of travel freedom between countries. Generally, visa requirements are a reflection of a country’s relationship with others, and take into account diplomatic relationships between countries, reciprocal visa arrangements, security risks, and the dangers of visa and immigration regulation violations,” said Volek.

Citizenship-by- Investment Programs
In contrast to 12 years ago when the Henley & Partners Visa Restrictions Index was first published, there are now many more residence- and citizenship-by- investment programs available for those who wish to enhance their travel freedom. More and more governments are embracing these programs as a means of stimulating economic development and growth, and there is an increasing number of wealthy and talented individuals looking to diversify their citizenship portfolios to give themselves and their families greater international opportunity, stability, freedom and security.

Volek pointed out that the countries that offer the most important citizenship-by- investment programs in the world continue to perform strongly on the index. “Malta offers the top-ranked investment migration program globally and scores very highly with the world’s 10 th most powerful passport and visa-free access to 167 countries. Austria is also in the top ten with a total of 173 countries and Cyprus is not far behind at 16th place, with 158 countries accessible without a visa.”

Likewise, countries that offer citizenship-by- investment programs in the Caribbean have performed well. Grenada is ranked at 37 and offers successful applicants visa-free access to 124 countries including China, Europe’s Schengen area, Singapore, Brazil, and other key markets. Antigua and Barbuda, and St. Kitts and Nevis share 30 th place on the Index this year, with visa-free access to 136 countries, and St. Lucia offers its citizens access to 127 countries worldwide and is ranked 36.

“For individuals who hold passports of countries with fewer visa waiver agreements, a second or even third citizenship can open up travel opportunities to countries previously restricted by time-consuming visa application requirements and processes. The Henley & Partners Visa Restrictions Index is relevant to both individuals interested in improving their mobility and the quality of their nationality, as well as governments focused on improving the local, regional and global opportunities inherent in their passports,” concluded Volek.

Source: traveldailynews.asia

While the United States has welcomed the efforts made by St Kitts and Nevis to tighten its citizenship by investment programme, and is working with the federation to make the programme a model one, according to US Ambassador Linda Taglialatela, a May 2014 FINCEN advisory from the US Treasury that targeted Basseterre over its CBI programme is not likely to go away anytime soon.

The advisory expressed about US concerns that so-called illicit actors were using St Kitts and Nevis passports for sanctions busting activity, and that the programme, described as lax at the time, required urgent revamping.

Bridgetown-based Taglialatela in an interview with WINN FM on Tuesday, said she understands why Caribbean countries operate economic citizenship programmes in these harsh economic times.

“There are obviously economic benefits to the programme, we have no opinion one way or the other, what we do ask is that people do have due diligence and set up a programme that has controls and balances to it, to ensure that the people that are getting citizenship through the programme are actually people who you really want to be there. I think that at the beginning we had a number of questions, I think working with the St Kitts and Nevis government we have been able to tighten up the controls on the programme. I think there are a lot of changes that were made for the good.

“We are working with St Kitts and Nevis to look at how we can work with the Department of Treasury on the FINCEN advisory. I am not sure that the advisory will go away but what we’re hoping is that they will be able to refine it and make it less restrictive,” she said.

The American ambassador acknowledged that the US has concerns about CBI programmes in the region, especially in the area of due diligence.

She outlined specific measures she would like to see implemented to make these programmes top of the line.

“We just want to make sure that you have a programme set up that will provide you with the security you need to ensure that you know who you are giving the citizenship to. Again, we have worked with the various countries and talk to them about what we consider to be acceptable criteria. I would prefer that each country require the individual to come to the country to be fingerprinted and have their fingerprints on file for passport purposes and other things. I know I would feel more comfortable because then you know who you are dealing with and if you have bio-metric data on individuals then you can perform additional checks and balances on people to see exactly where they stand.

“I understand that by one country making you do it and the other country not it may in fact some way disadvantage your programme over someone else’s, so I understand why some are reluctant to do it, but it would be nice if they could set a standard across the five countries that have programmes in an attempt to rationalize their programmes a little bit more,” she explained.

Taglialatela emphasised that proper vetting of applicants for citizenship is key.

She told WINN FM that properly implemented first steps along with other necessary measures will help enhance the effectiveness of the programme.

“Each of the countries has a process by which they vet candidates, they do research into their backgrounds, they check for different things in their records, whether they have criminal records, whether there are any questions about where their money came from or where their money is coming from. They do a whole host of background checks on people and they decide whether or not they want to do it.

“I honestly believe that if you are going to have an effective programme again, you’re going to have to bring the individual here. There should be some kind of residency requirement, whether you come once a year to the island particularly if you’re going to need to revalidate your passport. I think that everyone went to bio-metric data passports and the individuals have to come here and meet immigration authorities and go through a final interview and provide bio-metric data and get their passports here in the country, it would be more sound,” she added.

Taglialatela was on an official visit to St Kitts and Nevis.

She met with premier of Nevis Vance Amory and Deputy Premier Mark Brantley on Tuesday, and she had discussions with Prime Minister Timothy Harris on Wednesday.

Source: caribbeannewsnow.com

The Acting CEO of the Antigua & Barbuda Citizenship by Investment Unit (CIU) Thomas Anthony has resigned from the post.

His resignation comes after his boss the CEO Chisanga Chekwe also resigned from the post.

Educated in the United Kingdom, Thomas Anthony has been a banker for over 26 years. He has worked in Antigua, St. Lucia and Miami as an Investment Professional.

A licensed professional on the Eastern Caribbean Securities Market (ECSM), he also holds three Financial Industry Regulatory Authority (FINRA) licenses.

Thomas served as the Manager of GBC Wealth Management for seven years, handling the portfolios of High Net-Worth Individuals.

He joined the Citizenship by Investment Unit in 2013 as Project Development Officer with responsibility for Real Estate and Investment in Business.

He last held the title of Acting Chief Executive Officer.

Antigua and Barbudan Charmaine Quinland-Donovan was appointed the new CEO and her post takes effect on Monday March 27^th.

Source: antiguaobserver.com

The government of Antigua and Barbuda has announced the appointment of the first national of Antigua and Barbuda, Charmaine Quinland-Donovan, to head the country’s important Citizenship by Investment Unit (CIU).

Quinland-Donovan’s appointment takes effect from March 27.

Prime Minister Gaston Browne said: “I am delighted to announce the appointment of a qualified and capable national of Antigua and Barbuda to lead the Citizenship by Investment Unit. I am doubly pleased that the appointee is a woman. This emphasizes my government’s commitment to advancing women in decision-making roles in our society.”

The prime minister drew attention to Quinland-Donovan’s previous service in the CIU in three important capacities as chief compliance officer, chief operating officer and acting chief executive officer.

“In this regard,” the prime minister explained, “Ms Quinland-Donovan brings substantial knowledge and experience to the vital work of the Unit, together with keen understanding of international best practices to maintain and improve the standing of our nation’s citizenship by investment programme.”

Quinland-Donovan holds a BSc with first class honours from the University of the West Indies. She is also a chartered director and a fully qualified anti-money laundering specialist. Quinland- Donovan was employed at the Eastern Caribbean Central Bank for almost nine years, during which she served as bank examiner, supervised/regulated licensed financial institutions in the ECCU, led examination teams and worked with the Eastern Caribbean Securities Regulatory Unit. She has also worked at the Bank of Nova Scotia, where she was head of compliance for the Eastern Caribbean Region responsible for nine countries including St Maarten.

“Therefore, Ms Quinland Donovan comes with a wealth of banking experience that will inure to the benefit of the Citizenship by Investment Unit,” prime minister said.

“Given Ms Quinalnd-Donovan’s training and experience, out international partners can be assured of the integrity of our CIP and its safeguards against money-laundering, counter terrorism financing and the security of other nations,” Browne added.

Source: caribbeannewsnow.com

There is growing concern among international investors in Grenada’s citizenship-by-investment program about the attempt by the government to seize a foreign-owned resort. A court in Grenada has temporarily blocked the government’s plan to forcibly end a 99-year lease and expropriate the Grenadian by Rex Resorts, a 172-room hotel located on the island’s southern tip.

“It would be disastrous if this happened,” said a regional lawyer and CBI agent who did not wish to be named. “Expropriations by governments really do affect investment decisions of developers, while the perception will affect the decisions of CBI agents and, in turn, CBI applicants. It would leave a bad smell for 20 years. Why bother with Grenada when you can have a safe ride in one of our sister islands?”

Government officials said property managers haven’t fully complied with the lease agreement and argue the resort has become run down. The government also said it is intent on collecting taxes and feels the property is not being operated in the people’s best interest.

UK developer Rex Resorts rejects those claims, saying the hotel is running at nearly 90 percent capacity and that it has invested more than $4 million in the last five years to renovate the property. It also said it is up to date on all lease payments, taxes and fees owed to the government.

“Whatever the rights or wrongs of this individual case, the government is acting like a strongman,” said an investor. “People will be holding off making investments in the country until they see how this dispute turns out.”

Rex Resorts signed the lease agreement with the government in 1991 and has operated the Grenadian for 25 years. It is understood that calls have been made to Whitehall, the British government headquarters, to come to the defence of the beleaguered British company. There are even calls to reconsider the continuation of the country’s visa free treaty with the United Kingdom.

According to a Grenadian government website, applicants seeking to obtain citizenship by investment in Grenada must invest at least US$350,000. They need keep the real estate for at least three years following the grant of citizenship. There is a list of 13 developments that qualify for the scheme, including the Grenada Resort Complex, Kawana Bay Resort and Mount Cinnamon.

“The government has not said what it plans to do with the Grenadian by Rex Resorts, though we suspect that they want to sell it on, and a judge has sealed files in the case,” said a source. “The court will hold another hearing in May but, until then, many investments will be put on hold. If the government can do this to a company that has been there for 25 years, how will it treat an individual who just wants to buy a piece of real estate and a second citizenship?”

People in the Caribbean with long memories recall the shadow cast over development in Antigua when the government acquired the Half Moon Bay hotel. In June 2007, after 12 years of broken promises and legal arguments, the London-based Privy Council delivered a decision allowing the powers of eminent domain to be used by the government of Antigua under the Antiguan Land Acquisition Act to expropriate the Half Moon Bay Resort.

The only action initiated by the attorney general was to take physical possession of the property in the name of the people of Antigua. With neither maintenance nor security, it took very little time for the property to fall into disrepair. Ten years after expropriation, the case continues in the courts, while the beach is now a garbage dump.

This grim story does not seem to deter the Grenadian government. Oliver Joseph, Grenada’s minister of economic development, said that private investors have expressed interest in the Rex property. This reportedly includes Jamaican hotel magnate Gordon “Butch” Stewart.

However, according to local sources, a private Canadian company, Sunwing Travel Group, the largest integrated travel company in North America, which is partially owned by a publically traded German company (TUI Group) is working with the government of Grenada to seize the fully operating hotel.

In the meantime, the resort will keep operating as usual, unless and until a judge issues a contrary decision following the new hearing set for May.

Source: caribbeannewsnow.com

International citizenship and residence advisory firm, Henley & Partners is opening a new office in St. Lucia, its fourth office in the Caribbean region. The firm will work closely with the Government of St. Lucia to promote its relatively new and very competitive citizenship-by-investment program.

The St. Lucia office is led by Managing Partner Mark D. Maragh, an experienced local attorney-at-law with an extensive track record both in the law and international financial services. Maragh says the firm is keen to promote and position the program to attract only the best applications from around the world. “The program is the newest investment migration program in the region, having launched just over a year ago. St. Lucia has great value to offer, especially to single applicants as they can benefit from the most competitive investment threshold in the region.”

Henley & Partners supports recent improvements to the St. Lucia Citizenship-by-Investment Program. St. Lucia is ranked 37th globally on the Henley & Partners Visa Restrictions Index, a highly-regarded index which the firm has published annually with the International Air Transport Association (IATA) for more than a decade. The island nation offers its citizens visa-free access to 127 countries, including the EU’s Schengen area, the UK, Singapore and Hong Kong. On the Henley & Partners – Kochenov Quality of Nationality Index, St. Lucia is ranked 86th, performing well in terms of its Human Development and Diversity of Travel Freedom scores.

There are currently four routes to citizenship through the program; a contribution of USD 100,000 (for single applicants) to the National Economic Fund (NEF), a real estate purchase of USD 300,000 with a five-year holding period, an investment of USD 3.5 million into an approved enterprise project, or an investment of USD 500,000 into government bonds.

The requirements of the St. Lucia Citizenship-by-Investment Program are strict but reasonable and the procedures are efficient. The application process takes no longer than four months from the submission of the application to the issuance of the passport, assuming there are no areas of concern with the application.

Program Requirements

The St. Lucia Citizenship-by-Investment Program requires a person to make a significant economic contribution to the country. In exchange, and subject to a stringent application process and due diligence checks, the applicants and qualifying dependents are granted full citizenship. The main applicant must be at least 18 years old to qualify, meet the application requirements, and select one of the following investment options:

1. An investment in an approved real estate development with a minimum value of USD 300,000, which must be held for a minimum period of five years – additional costs may also be incurred depending on the real estate developer
2. An investment in an approved Enterprise Project (as set out in the regulations) with a minimum investment of USD 3.5 million plus the creation of no less than three permanent jobs; or a joint investment of USD 6 million (each applicant contributing a minimum of USD 1 million) plus the creation of no less than six permanent jobs
   For the above two options, the following government administration fees will also apply:
   • Main applicant – USD 50,000
   • Spouse – USD 35,000
   • Dependent under 18 years – USD 25,000
   • Dependent 18 years and older – USD 35,000
3. A non-refundable contribution to the National Economic Fund (NEF) of USD 100,000 (for a single applicant). An applicant may make the contribution under one of the four following categories:
   • Main applicant – USD 100,000
   • Main applicant and spouse – USD 165,000
   • Main applicant, spouse and up to two other qualifying dependents – USD 190,000
   • Each additional qualifying dependent of any age – USD 25,000
4. Investment in non-interest bearing government bonds, which must be held for five years (this option is valid until 31 March 2017). An applicant may invest under one of the four following categories:
   • Main applicant – USD 500,000
   • Main applicant and spouse – USD 535,000
   • Main applicant, spouse and up to two other qualifying dependents – USD 550,000
   • Each additional qualifying dependent of any age – USD 25,000

Procedures and time frame

• Application requirements are reasonable and relatively straightforward
• Generally speaking, the application process should take no longer than four months from submission of the application to issuance of the passport
• Under the real estate option, the time frame may vary depending on the development chosen

Key advantages

• A St. Lucian passport provides visa-free travel to 127 countries, including Europe’s Schengen area, the UK, Hong Kong and Singapore
• There are no residence or visitation requirements
• St. Lucia recognizes dual citizenship
• Citizenship can be passed on to future generations by descent
• A range of investment options are available
• The investment and processing costs are reasonable

Source: ftnnews.com

The Citizenship by Investment Unit (CIU) has officially begun reviewing applications of 17 Iranians and two Yemenis who received passports through the Citizenship by Investment Programme (CIP).

Deputy Chief Executive Officer of the CIU, Thomas Anthony said the unit has received permission from the Cabinet’s to proceed with reviewing the 19 passports.

Anthony, who was in China when OBSERVER media inquired about the process under which the applicants will be scrutinised, said: “We will send the biographical information on these citizens to the Joint Regional Communication Centre [JRCC], and we’ll make decisions based on their feedback.”

The application files are to be vetted through the JRCC, one of Caricom’s intelligence agencies. That information will be passed on to the state’s CIU, which will then turn any questionable information over to the Royal Police Force of Antigua & Barbuda for investigation.

Source: stluciatimes.com

The Australian passport has been deemed 16th most valuable in the world, according to a listing from global consulting firm Nomad Capitalist. The listing takes into consideration 199 countries on the basis of their “value of citizenship.”

Australia finds itself tied with the United Kingdom. Australia achieved top points in factors including perception, dual citizenship and freedom. Australian citizens maintain an impressive international reputation, can hold other citizenships in most instances, and are among the most free.

The considerations that Nomad Capitalist uses to create the rankings are visa-free travel, taxation, perception, dual citizenship and overall freedom. Australians are given visa-free access to 169 countries. Visa-free access accounts for 50 percent of a country’s ranking, making it the most desired factor. Germany has scored the highest points in this regard, providing visa-free access to 177 countries.

Taxation is the second heaviest factor, accounting for 20 percent of a country’s ranking. Perception, dual citizenship and overall freedom round up the list – with 10 percent each. New Zealand, on the other hand, ranks higher tan Australia – at the 11th spot.

The Australian passport received the second lowest score in terms of its taxation arrangement for expats. Nomad Capitalist notes that while those holding an Australian citizenship are able to avoid taxation by moving overseas, it happens with difficulty.

Sweden was crowned the world’s most valuable passport, according to the listing. The country scored impressively in terms of visa-free access. Swedish citizens can travel to 176 countries without a visa. In addition, they maintain an “excellent reputation” abroad, are provided a provision to hold dual or multiple citizenships and have high levels of personal freedom. The citizens can also avoid Swedish taxation by moving abroad.

The top 10 countries are all from Europe. After Sweden, they are Belgium, Spain, Italy, Ireland, Finland, Germany, Denmark, Switzerland and Luxembourg.

The United States passport ranked 35th on the listing. It was tied with Slovenia.

The US scored more points with regards to being able to travel easily to more countries. It allows a visa-free access to 174 countries. However, US citizens are subject to taxation on their worldwide income irrespective of where they live. They do not hold a respected international reputation and have less freedom than citizens of some of the other nations.

The bottommost position is held by Afghanistan. Citizens from the country can travel easily to only 25 countries, are not allowed to have dual or multiple citizenships and are subject to taxation on their international income.

Source: ibtimes.com.au

To access the data sheet on the Portugal’s Golden Residence Programme (GRP) results as of the 28^th February 2017, please click here