The UK Migration Advisory Committee (MAC) has published its much anticipated review on the current Tier 1 Entrepreneur and Graduate Entrepreneur visa system.
This report was requested by the Home Secretary and asked the MAC to carry out a review of the UK’s arrangements for the entry and stay of non-EEA entrepreneurs under Tier 1 of the Points Based System.
To access the report please click here
The UK Government has today announced it is making changes to the Immigration Rules affecting various categories. Amongst other categories, changes refer to the Tier1, 2, 5 of the points based system.
To download a copy of this ‘statement of changes’ please visit the UK government portal.
7 October, 2015 – Monaco
The Government of Saint Lucia has officially launched its Citizenship-by-Investment programme at a Monaco conference. According to Prime Minister Kenny D. Anthony the Saint Lucia Citizenship Programme will commence accepting applications for citizenship by investment on January 1st, 2016 and will be limited to 500 applications per year.
For further information please refer to the speech attached and the corresponding legal notice issued by the government of Saint Lucia.
1 October, 2015 – London, UK
Henley & Partners, the global leaders in residence and citizenship planning, has published the annual Visa Restrictions Index for the last decade, and now launches the latest 2015 edition. This year’s Index, along with the unique cumulative data from the last ten years, gives an unprecedented and inimitable insight into the development of visa policies over this time.
2015
The United Arab Emirates (UAE), for example, has been catapulted into the spotlight as the biggest climber with its dramatic addition of 37 countries and improvement in rank from 55 to 40. It is also the biggest climber over the ten years of the Visa Restrictions Index, and one of only 22 to have moved up in the rankings over the last year. Marco Gantenbein, Managing Partner of Henley & Partners in Dubai, comments, “Europe, the US and Canada, as the world’s economic powerhouses, continue to dominate the top 10 as we anticipated. However, it’s the performance of the UAE which needs to be applauded for the implied improvement of its international relations, which is very much reflected in the improved ranking in the Henley & Partners Index”.
Malta, the EU country which runs the world’s most successful citizenship-by-investment program with over EUR 1 billion in capital raised since its launch about 18 months ago, further improved its position and now has the 7th best passport in the world.
Two countries have held their position in the top spot with visa-free access to 173 countries out of a possible 218, Germany and the UK. Finland, Sweden and the US all dropped to 2nd place. The four worst passports in the world remain Afghanistan, Iraq, Somalia and Pakistan.
The Last Ten Years: 2006 – 2015
Looking at movement over the last decade highlights other interesting patterns. European countries are notable for their stability over this time – Belgium, France, Italy, Luxembourg, Spain and Sweden all remain in exactly the same position as 10 years before. The ‘Top Tens’ are almost identical, with 30 countries in 2015, compared to 26 ten years before. While Liechtenstein dropped, the Czech Republic, Finland, Hungary, Malta, Slovakia and South Korea all made it into the top ten
Taiwan, Albania, UAE, Bosnia and Serbia all moved up more than 20 places in the Index over the last ten years, while the biggest drops were experienced by Guinea (-35), Liberia (-36), Sierra Leone (-38) and Bolivia (-40).
The growing importance of investment migration can be seen in steady growth of those countries offering residence and citizenship-by-investment. Those countries with relevant programs continue to perform strongly and all now feature in the top 40 of the Index. It is encouraging to see Malta enter the top 10 after launching its Malta Individual Investor Programme, which is ranked as the best citizenship-by-investment program in the world in the Global Residence and Citizenship Programs 2015 report. Portugal, whose program earned the title as best residence-by-investment program, is in 4th position this year; and the leading Caribbean country, Antigua and Barbuda, moved up again this year.
The continued development of these countries demonstrates the critical nature of good visa-free access to counties offering investor immigration programs. In turn, this speaks of the importance of due diligence in such programs, since the reputation of a country’s passport and its relationship with other countries is only as good as its newest citizens.
This decade has also seen the launch of the Investment Migration Council, the worldwide association for investor immigration and citizenship-by-investment, highlighting the increasing understanding and acceptance of this important force in globalisation.
Click here to view the Henley & Partners Visa Restrictions Index 2015 Factsheet
Source: https://www.henleyglobal.com
22 September, 2015 – Washington, DC
This afternoon, the US Senate released its proposal for the “continued resolution” (CR) to extend current funding levels for the federal government through December 11, 2015 and includes reauthorization of the EB-5 Regional Center Program for the same duration in Section 131.
It is unclear exactly when the Senate will vote on this measure, and more unclear how the House will act, according to the not-for-profit industry trade association for the EB-5 Regional Center Program IIUSA. This is, however, an important step forward for a short term reauthorization that avoids any lapse in the Program while a longer term reform/reauthorization package is negotiated.
Source: https://iiusa.org/ 22 September 2015
25 June, 2015 – Geneva
The Investment Migration Council (IMC), the worldwide association of professionals dealing with investor immigration and citizenship-by-investment, has today publicly launched the industry’s first worldwide Code of Ethics and Professional Conduct.
The main components of the code include specific sections on:
The work of developing the code was carried out by the IMC secretariat, in collaboration with the IMC’s Governing Board and Advisory Committee representing a number of academic and professional practice experts.
It was at a recent major conference that Bruno L’ecuyer, the organisation’s CEO, affirmed that the Geneva-based association would provide a code of ethics and a set of ‘rules’ for its members to follow as part of its promise of setting professional practice and business ethics principles on a global level.
IMC Chairman Prof. Dr. Dimitry Kochenov commented: “The vast majority of people who work in the residency and citizenship by investment industry are honest professionals and businesses who seek to provide the highest standards for their clients. The IMC Code of Ethics and Professional Conduct clearly defines the expectations of the basic standards and behaviour for everyone in the industry and brings all practitioners at par with other trusted professions that have such codes, like those in law or accountancy.”
Major firms and practitioners globally have welcomed the code with enthusiasm; Austin Fragomen, Founder and President of Fragomen Worldwide said “An important role of the IMC is to establish a uniform code of ethics and professional conduct across the world for service providers. Trust and reliability are essential ingredients for the representatives of private clients seeking migration assistance. What the IMC is providing with this code is a verifiable credential of integrity and transparency.”
The code is immediately applicable to all members of the IMC as a condition of membership. The IMC is confident that through such initiatives, the standards of the industry will be elevated and will support its overall mission to set levels of professionalism in relation to residence and citizenship-by-investment worldwide and also create a culture of transparency in the sector which serves the UHNWI community of global citizens.
Source:
The Investment Migration Council
19 June 2015
Prompted by questions from the Member of Parliament for Rural West, Antigua & Barbuda learnt, for the first time, that more than 500 passports have been sold after a year and four months of operation of the Citizenship by Investment Programme.
Prime Minister Gaston Browne made the disclosure, yesterday, in Parliament, when he fielded questions from the Leader of the Opposition, in Parliament, Baldwin Spencer.
A Syrian national, became the first person to attain Antigua & Barbuda citizenship.
The prime minister also disclosed that 38 nationalities now carry Antigua & Barbuda passports. He identified them as: China 213, Lebanon 58, Iran 33, Russia 25, Egypt 21, Syria 18, Pakistan 14, UK 14, Nigeria 11, Saudi Arabia 9, Italy 7, Canada 7, Kuwait 6, Algeria 6, Iraq 6, Yemen 6, Palestine 5, India 5, Libya 4, Indonesia 4, Vietnam 4, Jordan 3, France 3, Dubai 3, Togo 3, Bangladesh 2, Afghanistan 2, Venezuela 2, Istanbul 2, Ukraine 1, Singapore 1, Uzbekistan 1, Guatemala 1, Austria 1, USA 1, and Thailand 1, among others.
The prime minister also outlined the number of passports sold under the various categories and the sums accrued from each category.
Of the 510 passports issued to successful applicants, the funds obtained for 416 of them were placed in the National Development Fund.
Monies obtained for 89 passports were related to the Real Estate Option while five passports were sold under the Business Investment Option.
According to the prime minister, Real Estate under the CIP umbrella netted US$52.5 or EC$142 million, while the Business Investment Option yielded US$7.2 million or EC$19.4 million.
In summary, the prime minister said since its inception, the CIP Unit has garnered $65.9 million.
In 2013, the CIP unit collected $390,000; in 2014 $32.3 million; and in 2015 $33.1 million.
Spencer said it was the failure on the part of the Labour Party administration to present a report that prompted the questions which Browne answered.
“It should not take my having to pose questions to the honourable prime minister to receive information in relation to the questions posed, because the very Act, under the CIP Act, calls for a full report tabled in Parliament every six months and the Labour Party has been in office little over a year, ”Spencer declared.
Spencer acknowledged there was some important information shared with the public, But he said there were some answers that were not as adequate as he would have liked and that he is looking forward to a full proper report coming from the government.
Source:
www.antiguaobserver.com
5 June, 2015 — Ottawa, ON
A final suite of reforms to strengthen and modernize Canada’s citizenship laws will be fully in force as of June 11, 2015. The changes – part of a package of measures approved by Parliament last year – ensure new citizens can fully and quickly participate in Canada’s economy and Canadian society.
The first set of provisions that came into force last summer to strengthen Canadian citizenship and speed up application processing times are already paying off. New citizenship applications are being finalised in a year or less, and it is expected that the backlog of older files will have been eliminated by the end of this fiscal year. Individuals who submitted a citizenship application before April 1, 2015 will have a decision by March 31, 2016.
Among the many benefits of the government’s citizenship reforms, the new provisions will deter citizens of convenience – those who become citizens for the sake of having a Canadian passport to return to Canada to access taxpayer-funded benefits that come with citizenship status, without having any attachment to Canada, or contributing to the economy.
Key changes include (in force June 11, 2015):
Quotes
“Our reforms ensure new citizens are better prepared for full participation in Canada’s economy and Canadian society. This is a win for newcomers, and a win for Canada in terms of making the most of the opportunities that our fair and generous immigration system provides.”
“We are eliminating long backlogs, and streamlining our own processes. At the same time, we are ensuring Canadian citizenship is highly valued and stays that way. Promise made, promise kept when it comes to strengthening the value of Canadian citizenship.”
Chris Alexander, Canada’s Citizenship and Immigration Minister
Source:
Government of Canada
https://news.gc.ca/web/article-en.do?nid=985259&tp=1&_ga=1.216691285.2115368516.1391027151
3 October, 2014 – GENEVA
The founding of the Investment Migration Council was announced today.
The Investment Migration Council (IMC) has been formed by the leading experts within the immigration and citizenship-by-investment industry to bring together the foremost stakeholders within the field and to give the industry a voice.
The IMC will help to improve public understanding of the issues faced by clients and governments in this area, and promote education and demand the highest professional standards and ethics among its members.
The Chairman of the IMC, Professor Dr. Dimitry Kochenov of the University of Groningen, Netherlands, said, “The IMC will set industry standards on a global level, and interact with other professional associations, academic leaders, governments and international organizations in relation to investment migration”.
The investment migration industry has grown significantly over the past decade. Immigration and citizenship options for investors have become topics of significant interest among international clients as well as practitioners and companies providing services to such clients. Likewise, countries are increasingly keen in attracting more foreign direct investment through investor immigration and citizenship programs. One founding member commented, “With the rapid growth of this important and influential field, there was a great need for a central, responsible body. The IMC will fulfil this role and provide significant structure, standards, and accountability for the industry”.
The IMC is constituted as a not-for-profit association under Swiss law. Based in Geneva, it has initiated the opening of representative offices in New York, London and Hong Kong. Managed by a Chief Executive Officer under the direction of a Governing Board, the IMC also has a non-executive Advisory Committee, in which the most important industry stakeholders are represented.
The founding members include national industry associations, major law firms such as Fragomen LLP, Mishcon de Reya Solicitors and Foster Quan LLP; National Bank of Canada, Henley & Partners, Visa Consulting Group, KPMG, BDO, and many further leading stakeholders.
The members of IMC’s Governing Board and Advisory Committee comprise of many distinguished individuals from the global investment migration field, including:
Prof. Dr. Dimitry Kochenov Chairman of the Investment Migration Council addressing the Inaugural Assembly of the Association at Hotel Le Richemond, Geneva, on 1 October 2014
For media questions or requests for interviews with any board and advisory committee members of IMC, please contact Jane Bradwell, Public Relations Officer, at media@investmentmigration.org
Source:
The Investment Migration Council
October 2014
The Geneva-based Investment Migration Council (IMC), which is the worldwide association representing professionals from the investment migration and the citizenship-by-investment industry, has announced the appointment of Bruno L’ecuyer as its first Chief Executive Officer.
L’ecuyer will lead the secretariat reporting to the Governing Board and will be responsible for all IMC operations. Based in the newly established IMC offices in Malta, he will lead the formulation and achievement of the IMC’s mission, strategy and goals, in close collaboration with the Board.
“As the IMC enters the next phase of growth, the appointment of L’ecuyer to this key role will be pivotal in driving forward our strategic initiatives including setting standards on a global level, interacting with other professional associations, governments and international organisations.” said Prof Dr. Dimitry Kochenov, the Chairman of the IMC Board.
L’ecuyer commented, “A professional body is only successful when it truly represents and engages with its stakeholders. I am looking forward to working with my fellow Board, our members and the wider profession, governments and stakeholders to ensure that the IMC not only responds to the industry’s needs but actively leads it. Additionally, I am delighted that we will be setting up our secretariat office in Malta, which is a true testament to the attractiveness Malta has as an international business centre of quality”.
The IMC sets the standards on a global level and interacts with other professional associations, governments and international organisations in relation to investment migration. Furthermore, the organisation aims to help improving public understanding of the issues faced by clients and governments in this area, promote education and demand the highest professional standards and ethics among its members.
Before taking up this prestigious post at the IMC, L’ecuyer was the Head of Business Development at FinanceMalta the public private partnership set up to promote Malta’s financial services sector. He brings extensive expertise and experience in the management and expansion of a professional services association.
Further information on the Council’s structure, membership and governance may be found at www.investmentmigration.org
Source:
The Investment Migration Council