Investment Migration Council

Blog

  • Long-Term Residency in Thailand: Understanding the Thailand Privilege Card Program

    Long-Term Residency in Thailand: Understanding the Thailand Privilege Card Program

    An article written by Michelle Katherine Hawryluk IMCM, Managing Partner at Hawryluk Legal Advisors.

    Introduced in 2003 by the Tourism Authority of Thailand, the Thailand Privilege Card, also known as the Thailand Elite Visa, is a residency program designed for individuals seeking prolonged stays in Thailand. The program caters to a wide range of expatriates including tourists, retirees, business professionals, digital nomads, and investors, aiming to facilitate their living and travel experience in Thailand.

    Overview of Membership Packages

    The program provides several membership options, each designed to accommodate different needs:

    • Gold Membership (THB 900,000 / approx. USD 24,400) – Offers a five-year renewable multiple-entry visa, including expedited immigration lanes and assistance with government services.
    • Platinum Membership (THB 1,500,000 / approx. USD 40,700) – Extends the visa to 10 years and allows family applications at a reduced rate, suitable for those relocating to Thailand with family.
    • Diamond Membership (THB 2,500,000 / approx. USD 67,900) – Aimed at business people and long-term investors, this membership grants a 15-year multiple-entry visa, allowing easier entry and exit without re-entry permits.
    • Reserve Membership (THB 5,000,000 / approx. USD 135,800) – Limited to 100 new members annually, this invitation-only tier provides a 20-year multiple-entry visa with added services like personal concierge support and access to health and wellness facilities.

    Program Participation and Economic Contributions

    Since its launch, the Thailand Privilege Card program has attracted over 36,000 members from various countries, including a significant number of Chinese nationals. These members contribute to Thailand’s economy through investments in real estate and participation in local business activities.

    Benefits of the Thailand Privilege Card Program

    The Thailand Privilege Card offers several benefits that enhance the residency experience in Thailand. These include:

    • Ease of Travel – Members enjoy simplified immigration and visa processes, making travel to and from Thailand seamless.
    • Enhanced Lifestyle Services – Members have access to a range of services including personal assistance with government transactions and bookings for leisure activities.
    • Comprehensive Support – The program offers legal, administrative, and health care support to ensure a comfortable stay for all members.
    • Community Integration – Members become part of a diverse community, fostering connections that can enhance personal and professional life in Thailand.

    Current Features and Services

    The program includes comprehensive health care options, business services, and legal and administrative support. It also facilitates leisure services, helping members with arrangements for travel, accommodation, and recreational activities. These services are designed to enhance the living experience of its members in Thailand without the complexities typically associated with travel and accommodation abroad.

    Current Status and Operational Details

    The Thailand Privilege Card continues to serve its members by providing visas and services that ease their stay in Thailand. The program’s ongoing operations focus on maintaining high standards of service and ensuring the satisfaction of its members.

  • The EB5 Visa program is back with a Bang – Here is what you need to know.

    The EB5 Visa program is back with a Bang – Here is what you need to know.

    An article written by Paresh Karia IMCM, CEO at  Acquest Property and Hospitality Services Pvt. Ltd.

    The US EB5 Visa program is back with a bang in its new Avatar. The latest USCIS data shows thousands of investors have filed EB5 visa petitions since the program restarted after the passage of the EB5 Reforms and Integrity (RIA) Act in March 2022.

    As seen above, in the last two years, from April 2022 to March 2024, 5344 investors have invested a minimum of $800,000 each for the EB5 visa, resulting in an aggregate investment of $4.275 bn. in the US economy for job creation.

    The program offers US permanent residency, popularly known as the Green Card, to Foreign Investors who invest a minimum of $ 800,000 in qualifying commercial projects in the US, which leads to the creation of jobs for Americans.

    The program has a long history but underwent much turbulence after November 2019, which included a substantial increase in the investment amount followed by litigations and suspension of the program. Finally, in March 2022, the US Congress passed the EB5 Reforms and Integrity Act, giving the program a new lease of life.

    Let us look at some of the significant changes in the new EB5 visa program, which has made it more robust and attractive to investors, resulting in a surge in interest.

     Extension of the Program for five years

    The new Act has authorized the program up to 30th September 2027 in its current form, bringing in much-needed stability and continuity. This means the investors and, more importantly, the regional centers can plan and implement their investments more accurately.

    Introduction of Set Aside Visa

    Unlike the investment-based immigration programs from other countries, the US has capped the number of EB5 Visas to about 10,000 each Fiscal year. There is a further per country cap of 7% or about 700 Visas. If the demand for EB5 Visa from a particular country is much higher than the available visa, the investors must wait in a queue. This is technically called Retrogression or Visa backlogs. Traditionally, the demand for EB5 visas from countries like China and India has been very high, resulting in investors from these countries having to wait for visas for several years, even after the approval of their EB5 Visa petition. The new EB5 RIA has addressed this issue by setting aside 32% of the total visas available each year for investors in particular categories of projects as follows;

    This means investors from countries like China and India can invest in these projects and obtain EB5 Visa much faster. Not only that, USCIS has also allowed priority processing of EB-5 petitions for investors in rural projects, thereby allowing them to Fast-track their overall Green Card process.

    Concurrent filing for Adjustment of Status

    Another change that benefits applicants already in the US on Non-immigrant Visas, Like Students on F1 or Employees on H1B, is concurrent filing for Adjustment of Status (AOS).

    This means that upon filing your EB5 petition, you can immediately apply for adjustment of your status from Non-immigrant to Immigrant. While this is in process, you will get the Employment Authorization Document (EAD) and Advance Parole (Travel Document), usually within four to Six months (as of now).

    This is a game changer for those already in the US as it will enable them to enjoy most of the benefits of a Green Card, like the freedom to work and travel in and out of the US almost immediately. It opens a world of opportunities to such applicants. They can take up jobs and pursue career aspirations at will without dependence on their employers for the H1B visa. And more importantly, they don’t have the sword of having to leave the US hanging on their head in case they lose their job. Similarly, foreign students in the US can also get the EAD or work permit through concurrent filing and access to a wide range of internship and campus placement opportunities, including those available only to US residents.

    Greater oversight of Regional Centers

    The EB-5 RIA of 2022 has also introduced many measures to ensure greater oversight over the operations of the Regional Centers and the Projects. These include stricter compliance with the USCIS regulations, third-party audits, and disclosure to investors and fund administrators. The bill also warrants that regional centres must closely manage their sponsored projects. All this may lead to an increase in compliance costs and fees; however, such changes should be welcomed as they protect the investor’s interests.

    New Investment Amount

    The investment amount has increased from $500,000 to $800,000 for projects in Targeted Employment Areas (TEAs) and to $1,050,000 for those in non-TEA areas.

    Thus, as seen above, despite an increase in the investment amount, the demand for EB5 Visa has continues to surge, especially from investors from China, India, etc., due to the above measures, mainly the set-aside visas and concurrent filing. However, if the demand continues to rise at this pace, very soon, the set-aside visas will also get exhausted, and you may have to wait much longer to realize your American Dream. So, if you are considering investing in EB5 Visa, the best time to apply is now.

  • Involuntary Migration: A Growing Global Risk

    Involuntary Migration: A Growing Global Risk

    An article written by Juliana Cloutier IMCM, Managing Director at Alta Invest RCBI Solutions.

    The Global Risks Report 2024, published by the World Economic Forum (WEF), highlights involuntary migration as one of the most significant global risks over the next two to ten years. Drawing insights from nearly 1,500 leaders across academia, government, civil society, and business, the report shows how climate change, geopolitical tensions, economic instability, and societal polarization are converging to drive migration on an unprecedented scale.

    Upon reviewing the WEF’s Global Risks Reports from the past five years, it is evident that involuntary migration has not always been identified as a top-tier risk. This recent shift signals the growing urgency of addressing this issue, requiring attention not only from governments but also from industries particularly the investment migration industry, which must adapt to these changes in the global landscape.

    The Complex Drivers of Involuntary Migration

    Climate Change: Climate-induced disasters like wildfires, floods, and droughts are displacing millions, especially in regions such as Sub-Saharan Africa, South Asia, and small island states. As global temperatures change drastically, many more are likely to become climate refugees, underscoring the need for both adaptation and mitigation efforts.

    Geo-economic Instability: Economic instability—driven by rising inflation, economic downturns, and debt crises—is forcing populations to migrate, particularly in regions where economic fragility and interstate conflict coexist, such as in parts of Africa and Eastern Europe.

    Conflict and Societal Polarization: Wars in regions like Ukraine, Sudan, and Syria have displaced millions; while growing societal polarization and the rise of authoritarianism push more people to seek safety. Combined with economic instability, these drivers make long-term displacement inevitable, increasing pressure on both sending and receiving countries.

    The Intersection of Involuntary Migration and Investment Migration

    At first glance, involuntary migration and investment migration may appear to operate at opposite ends of the migration spectrum. However, there are critical intersections between these phenomena that the investment migration industry must recognize and address. As forced migration accelerates due to climate change, conflict, and economic fragility, the same underlying risks are also prompting high-net worth individuals (HNWIs) to explore investment migration to protect their personal and financial security.

    For HNWIs, obtaining a second residence or citizenship through investment migration programs is a proactive strategy to mitigate the very risks that are driving involuntary migration for others. This dual nature of modern migration—necessity for some, foresight for others—reflects a broader global trend where all populations, regardless of wealth, are responding to the same destabilizing forces.

    Investment migration professionals must engage with these global dynamics thoughtfully. Rather than merely facilitating global mobility, investment migration programs must be positioned as offering security in an increasingly uncertain world. This requires a shift in how the industry communicates the value of its offerings—not just as luxury options, but as essential components of global risk management.

    The Role of Investment Migration in a Volatile World

    As the investment migration industry grows, it must evolve in response to the global environment increasingly shaped by forced migration and geopolitical volatility. Countries offering residence-by investment (RBI) or citizenship-by-investment (CBI) programs are uniquely positioned to market these options as a form of insurance against instability. For high-net-worth individuals (HNWIs), obtaining a second passport has become more than a luxury—it’s now an essential safeguard for protecting their families and assets.

    For investment migration professionals, the emphasis must shift beyond traditional mobility and flexibility. The new focus should be on risk mitigation, where citizenship diversification is part of a comprehensive global risk management strategy. A second passport offers protection from political unrest, access to more secure healthcare systems, and financial resilience in uncertain times. This strategic messaging will resonate with clients seeking tangible security.

    From a policy perspective, countries offering RBI and CBI programs can leverage these initiatives for broader national benefit. Governments could align revenues from these programs with efforts to strengthen national resilience, promote climate adaptation, or support displaced populations.

    Policy Implications for Governments and the Investment Migration Industry

    The WEF’s Global Risks Report makes it clear that the forces driving involuntary migration will only intensify in the coming decade. This presents both challenges and opportunities for the investment migration industry. Governments that operate RBI and CBI programs must be aware that the demand for global mobility options will rise in tandem with increasing instability worldwide.

    At the same time, the investment migration industry must be attuned to the evolving needs of its clientele. Offering a second passport is no longer just about facilitating movement—it is about offering security in a world where that security is increasingly elusive. Investment migration professionals must design strategies that reflect these new realities and position their programs as part of a broader effort to help clients safeguard their future in an uncertain global environment.

  • IMC Member Alert: United in Support of UK Solicitors

    IMC Member Alert: United in Support of UK Solicitors

    The Investment Migration Council (IMC) is deeply concerned about the recent threats and acts of violence against solicitors in the UK. This concern is heightened by the alarming reports of anti-migration riots and targeted attacks circulating online.

    We strongly urge all UK-based members to follow the latest safety advice issued by the UK Law Society. Protecting yourselves, your teams, and the confidentiality of client data is crucial. For comprehensive guidance, please refer to the UK Law Society’s advice here.

    During these challenging times, we stand in solidarity with you and are committed to providing ongoing updates through our website, and our social media channels. LinkedIn / Facebook / X / Instagram

    Our media partner IMGW.News is covering the events as they unfold here.

    Please remain vigilant and stay safe.

  • IMGW.News to Manage IMC News Service

    IMGW.News to Manage IMC News Service

    The IMC is pleased to announce that the news service on our website will now be managed by Investment Migration & Global Wealth News  (IMGW.News) as the Official IMC Media Partner.

    Launched in Dubai in April 2024, IMGW.News is a premier news portal providing insights into Investment Migration, Wealth Management, Real Estate, and Lifestyle.

    Enjoy the Latest News Portal Technology

    IMGW.news offers a great user experience with the option to listen to any content with just one click. No need for third-party software – simply select the news, click play, and listen!

    With an unwavering commitment to journalistic integrity, IMGW’s editorial team delivers impartial, high-quality news and expert analysis. We present a variety of viewpoints to empower our diverse readers with accurate information, data, and business insights.

    “We are thrilled to collaborate with IMGW.news to bring a more dynamic and informative news experience to our members,” said Estelle Nogues, Head Stakeholder Concierge of the IMC. “Their commitment to quality journalism and comprehensive coverage will greatly benefit our members and followers.”

    “IMGW is honoured to work closely with the IMC and other industry associations, as this helps the news portal remain relevant and at the forefront of news and current industry developments,” said Ray de Bono, IMGW Project Lead.

    Claim Your FREE Limited Time Subscription by clicking here.

    Your IMGW.news Contact:

    Ray de Bono

    Editor & Project Lead

    IMGW News WhatsApp: +356 9949 0209

    Email: editor@IMGW.News

  • Is Canada Still Accepting Business Immigration?

    Is Canada Still Accepting Business Immigration?

    Article written by Slava Apel, CEO of Startup Visa Services

    Introduction

    In an increasingly globalised economy, Canada’s business migration programmes have been vital pathways for international entrepreneurs and companies. These programmes not only facilitate the seamless transfer of key personnel but also foster innovation and economic growth.

    Recent changes announced on the 29th of April 2024, by Immigration, Refugees and Citizenship Canada (IRCC) are set to reshape the Start-up Visa Programme, aiming to reduce backlogs and improve processing times. Alongside this, the provincial entrepreneur programmes continue to offer tailored opportunities for business immigrants.

    This article delves into these changes and provides insights on how they will impact prospective applicants and the broader Canadian business landscape while also reflecting on the history of Canadian business immigration programmes and similar programmes that have been discontinued in the United Kingdom and Australia.

    Key Changes to the Startup Visa Programme

    The 29th April announcement introduced several significant modifications to the Startup Visa Programme, addressing longstanding challenges and enhancing its efficiency. Here are the primary changes:

    1. Decrease in Allocations for Support Organisations: The new policy reduces the number of business startups that designated organisations, including venture capital funds, angel investor groups, and business incubators, are allowed to support. This change aims to diversify the pool of innovative businesses entering Canada and expedite the approval process. Prioritisation measures and attention to old applications will benefit.
    2. Streamlined Application Process: To tackle the issue of processing delays, IRCC has been introducing a more streamlined application process with online submissions instead of mailing in applications. Also, as exposed in live events for lawyer associations, the implementation of artificial intelligence is used to speed up approvals.
    3. Reducing the Backlog of Inventory: Recognising the challenges faced by foreign entrepreneurs of waiting a long time for approval for permanent residency, the programme has now slowed down the intake of new applications until the end of 2026.
    4. Prioritisation of High-Potential Startups: The changes also introduce a prioritisation mechanism for startups with high potential for economic impact and job creation. This prioritisation aims to attract businesses that can contribute significantly to Canada’s economy and innovation landscape through a select group of designated organisations or funding options.

    Provincial Entrepreneur Programmes: An Alternative Pathway

    While the federal Startup Visa Programme garners much attention, Canada’s provincial entrepreneur programmes offer additional, tailored opportunities for business immigrants.

    These programmes, administered by individual provinces and territories, are designed to address regional economic needs and opportunities. At the time of writing this article, some of the programmes were live, some were active and some were paused, but this article is meant to show the variety of options.

    British Columbia Entrepreneur Immigration (BC PNP or BCPNP)

    The BC Entrepreneur Immigration stream targets experienced businesspeople who can establish themselves in BC and invest in and operate a commercially viable business. The programme requires a net worth of CAD 600,000 and a minimum investment of CAD 200,000. There are also processing fees; a candidate should never aim just at the minimum programme requirements.

    As the old saying goes…“do more, not less.”

    Other similar programmes with investment, net worth, and activity requirements to research would be:

    • Quebec Entrepreneur Programme
    • Quebec Investment Programme
    • Ontario Immigrant Nominee Programme (OINP) Entrepreneur Stream (Suspended as of 4th December 2023)
    • Atlantic Immigration Pilot Programme (AIPP) (Closed and replaced by the Atlantic Immigration Programme (AIP)
    • Alberta Provincial Nominee Programme (AINP)
    • Manitoba Provincial Nominee Programme (MPNP)
    • New Brunswick Provincial Nominee Programme (NBPNP)
    • Newfoundland & Labrador Provincial Nominee Programme (NLPNP)
    • Northwest Territories Provincial Nominee Programme (NTNP)
    • Nova Scotia Provincial Nominee Programme (NSPNP)
    • Prince Edward Island Provincial Nominee Programme (PEI PNP)
    • Saskatchewan Provincial Nominee Programme (SINP)
    • Yukon Provincial Nominee Programme (YNP)

    Businesspeople and their high-ranking employees may also look at Intra-Company Transfer Canada (ICT), which unlocks the path to Canada for multinational companies.

    The intra-company category permits international companies to temporarily transfer qualified employees to Canada to improve management effectiveness, expanding Canadian exports, and enhancing competitiveness in overseas markets.

    Historical Context: The Immigrant Investor Programme

    To understand the current landscape of Canadian business immigration, it is essential to reflect on past programmes, such as the Immigrant Investor Programme (IIP), which was terminated in 2014.

    1. Overview of the Immigrant Investor Programme: Introduced in 1986, the IIP required applicants to invest a substantial amount of money in Canada in exchange for permanent residency. The funds were used to create jobs and support economic development.
    2. Reasons for Closure: The programme was discontinued due to various challenges, including concerns about the integrity of applications, the economic benefits being less significant than anticipated, and the processing backlogs that plagued the system.
    3. Impact and Legacy: The closure of the IIP marked a significant shift in Canada’s approach to business immigration, leading to the development of more targeted programmes like the Startup Visa and provincial entrepreneur streams that focus on active business involvement and innovation rather than passive investment.

    Similar Programmes in the United Kingdom and Australia

    The UK and Australia have also had their share of business immigration programmes that have been discontinued, providing valuable lessons for Canada.

    1. UK Tier 1 (Entrepreneur) Visa: The UK Tier 1 (Entrepreneur) Visa, which was introduced in 2008, allowed individuals to invest in and run a business in the UK. However, this programme was closed to new applicants on the 29th of March 2019 due to concerns about abuse and inefficiency. It was replaced by the Innovator and Startup visas, which aim to attract more viable and innovative businesses.
    2. Australian Business Talent (Permanent) Visa (subclass 132): The Australian Business Talent Visa, launched in 2012, was designed for high-calibre businesspeople to establish a new or develop an existing business in Australia. This visa was closed to new applications on the 1st of July 2021, as part of a broader effort to streamline Australia’s business and investment visa programmes. The focus has since shifted to the Business Innovation and Investment Programme (BIIP), which aims to attract entrepreneurs with a proven track record of business success.

    Strategic Considerations for Prospective Applicants

    The recent changes to the Startup Visa Programme and the opportunities presented by provincial entrepreneur programmes offer diverse pathways for business migration to Canada.

    Here are some strategic considerations for potential applicants:

    1. Leveraging Increased Support and Resources: Applicants should fully take advantage of the Startup Visa Programme’s increased support and streamlined processes. Engaging with designated organisations early in the process can enhance the likelihood of a successful application.
    2. Exploring Provincial Programmes: Depending on the nature and scale of the business, exploring provincial programmes might offer more suitable opportunities. Each province has unique requirements and benefits, so understanding these can help in choosing the best path.
    3. Aligning with High-Priority Areas: Startups should focus on aligning their business models with sectors identified as high-priority by IRCC and provincial authorities. Emphasising innovation, job creation, and economic impact can improve their chances of receiving prioritisation.
    4. Staying Informed and Adaptive: The business migration landscape is dynamic, and staying informed about policy changes is crucial. Applicants and stakeholders should remain adaptive and proactive in responding to new regulations and opportunities.

    Conclusion

    The recent updates to Canada’s Startup Visa Programme reflect a commitment to fostering a more efficient, supportive, and impactful business migration environment.

    Coupled with the diverse opportunities provided by provincial entrepreneur programmes, international entrepreneurs and companies have multiple avenues to contribute to Canada’s economic growth and innovation.

    This article is not meant as immigration advice but more of a research tool for opening doors for alternative paths to business people to Canada. For a detailed breakdown of the changes to the Startup Visa Programme and their implications, please contact the author, Mr Slava Apel – CEO of Startup Visa Services. Also, refer to the official IRCC announcement here an only open to immigration professionals video explaining in detail of the consequences of the 29th April 2024 changes.

  • Why America’s retirement wave is on the cusp of a new era for investment migration

    Why America’s retirement wave is on the cusp of a new era for investment migration

    Article written by Patricia Casaburi IMCM, Managing Director at Global Citizen Solutions

    The world’s inhabitants are ageing at an unprecedented rate, whereby an estimated 30% of the global population will be aged 65 or older by 2100.

    In the United States, this paradigm is becoming more pronounced, with almost a quarter of the country’s current population aged 65 years or older. As such, retirement security is increasingly becoming a social challenge that will confront the global community over the next three decades.

    Retirement is not just a phase of life but a profound transition, often paired with the quest for better living conditions, political stability, and favourable climates. Recent trends show a significant shift in retirement migration patterns, highlighting a unique intersection with investment migration, one migration experts are keeping a watchful eye on.

    The rise of retirement migration

    Globally, an increasing number of retirees are opting to spend their golden years abroad, driven by macroeconomic conditions, advances in communication technologies, cheaper international travel and globalization.

    Typically, these retiring migrants are baby boomers from developed nations seeking not only a peaceful retirement and enhanced quality of life but also opportunities for investment that align with their retirement goals. Countries with sunny climates, robust healthcare systems, low crime rates and attractive tax incentives are becoming popular retirement havens.

    According to the Intelligence Unit’s latest report on US retirement patterns, the majority of American retirees are drawn to international destinations for better living costs, superior healthcare, and desirable climates.

    For instance, Costa Rica and Portugal offer a cost of living significantly lower than that of the United States, allowing retirees to enjoy a higher quality of life on a fixed income – effectively enabling them to stretch out their pension funds. These countries also boast highly rated, affordable healthcare systems, providing peace of mind to those with health concerns.

    What is less studied in the migration industry, yet becoming increasingly apparent, is that Americans make up the bulk of residence and citizenship by investment applications, with an uptick in senior applicants.

    This trend indicates that affluent Americans are increasingly seeking a Plan B to future-proof their wealth and settle their families in other locales —particularly in light of ongoing political and economic turmoil on U.S. soil.

    Investment migration as a pathway to a peaceful retirement

    Investment migration as a pathway to retirement is a relatively new concept. Data indicates a marked increase in foreign seniors residing in warm and sunny countries like Spain, Portugal, and Thailand, which have seen a surge in their senior expatriate communities over the last decade.

    This has partially been prompted by the investment migration wave, which is estimated to generate €20 billion annually in GDP revenue. These foreign investment injections into local economies play a crucial role, frequently offsetting deficiencies experienced in other economic sectors.

    The Spanish Golden Visa programme alone has attracted over €4.5 billion since its inception, with €700 million raised in 2019, while Portugal’s Golden Visa Programme has respectively injected over €700 million into its economy. This influx of funds underscores the economic impact retirees have by contributing to local economies through real estate and other substantial investments.

    Investment migration offers a structured pathway for retirees seeking residence in desirable locales. By investing in real estate or other qualifying options, retirees gain residency and potentially citizenship, aligning with their retirement goals.  For example, Portugal’s D7 Visa has attracted many American retirees looking to migrate to Portugal with a comfortable pension, allowing them to secure Portuguese permanent residency after five years. 

    Such programmes are not just about relocating; they’re about integrating into a new lifestyle while contributing economically to the host country. Typically, the investment flows into real estate, local businesses, or national development funds, creating a mutually beneficial relationship between the retiree and the host nation.

    Implications for the investment migration industry

    The intersection of global retirement and investment migration presents unique opportunities and challenges. There is an increasing demand for advisory services tailored to retirees, encompassing financial planning, real estate investment, and legal residency requirements.

    This niche, while growing, needs to consistently evolve and provide specialized knowledge and residency solutions for a diverse population with diverse needs.

    Additionally, the trend underscores the importance of flexible and inclusive investment migration policies that can adapt to the needs of a diverse retiree demographic.

    Countries offering clarity, stability, and transparency in their investment migration policies are likely to attract more retirees seeking reliable and straightforward pathways to residency.

    For instance, Malta’s CES programme not only provides a path to Maltese citizenship but also specifically caters to the lifestyle and healthcare expectations of older migrants, setting a benchmark for other programmes.

    Looking ahead, the intersection of retirement and investment migration is poised for growth. As more countries recognize retired expatriates’ economic and cultural contributions, we may see tailored investment migration programmes expand.

    These programmes could offer more varied investment thresholds and benefits tailored to retirees’ specific needs, such as healthcare services and community integration activities.

    As the global demographic ages, the flow of retirement migration will only increase. Investment migration professionals must stay ahead of the curve, understanding not only the regulatory landscapes but also retirees’ evolving preferences and needs.

    The relationship between retirement plans and investment migration opens a promising avenue for both retirees and host countries. As this trend continues to grow, it highlights the critical role of investment migration in facilitating safe, legal, and beneficial movements across borders.

    For those navigating this landscape, staying informed and adaptable will be key to harnessing retirement migration opportunities in the coming years.

  • Bulgaria Golden Visa: A Streamlined Path to EU Residency and Beyond

    Bulgaria Golden Visa: A Streamlined Path to EU Residency and Beyond

    Article written by Vasil Markov IMCM, Director of Advocate Markov

    Following the closure of Bulgaria’s fast-track citizenship by investment programme in 2022, the government quietly introduced the Bulgaria Golden Visa in autumn 2023. Although the fast-track option is no longer available, the new programme offers increased transparency and flexibility.

    Pre-Approval Stage

    The government has implemented a pre-approval procedure with the Bulgarian Investment Agency. During this stage, applicants must:

    – Demonstrate the origin of their investment funds

    – Provide proof of a clean background

    – Confirm they are not politically exposed persons

    This pre-approval process takes eight to ten weeks. Once applicants successfully pass this due diligence process, they can choose to invest in either an AIF or an ETF. Applicants who do not receive approval will not have made any investments, thereby avoiding any potential wasted funds.

    Time to Obtain Permanent Residency

    Upon making the investment, the Bulgarian Investment Agency will issue an investment certificate within a few weeks, which must be included with your visa application documents. You will then apply for a D visa at your home country’s Bulgarian embassy or consulate, where processing can take a few months.

    Investment Options for the Bulgaria Golden Visa

    The Bulgaria Golden Visa programme provides a variety of investment options to obtain permanent residency. Investors must meet the minimum investment requirements and maintain the investment for at least five years. Here are the options with the lowest investment threshold of €512,000 for obtaining permanent residency in Bulgaria through investment:

    – AIF Fund Investment (€512,000): The most common choice for investors is to invest in shares of an Alternative Investment Fund with a minimum value of €512,000. This amount can be invested in a single AIF or spread across several AIFs to mitigate risk. The AIF must be based in Bulgaria, managed by a Bulgarian fund manager, and invest solely in assets (shares and bonds) of Bulgarian companies.

    – ETF Fund Investment (€512,000): Investors can also opt to invest in shares of an Exchange Traded Fund with a minimum value of €512,000. This amount can be invested in a single ETF or spread across several ETFs to mitigate risk. However, mixing investments between AIFs and ETFs is not permitted; investors must choose to invest solely in either AIFs or ETFs. The ETF must be based in Bulgaria, managed by a Bulgarian fund manager, and invest only in assets (shares and bonds) of Bulgarian companies.

    After arriving in Bulgaria with your D visa, the process for obtaining permanent residency takes a few months. The permanent residency status is indefinite, though the residency card needs to be renewed every five years.

    Benefits of the Bulgaria Golden Visa

    The Bulgaria Golden Visa programme offers numerous advantages for those seeking a comfortable and secure lifestyle within the EU:

    – Visa-Free Travel: Holders of the Bulgaria Golden Visa gain access to all Schengen and EU member states, facilitating hassle-free travel within Europe. Additionally, a Bulgarian passport allows visa-free or visa-on-arrival access to 179 countries.

    – Freedom of Travel within the EU: The Golden Visa permits visa-free travel and short stays (up to three months within a six-month period) in other European Union countries.

    – Simple Renewal Process: The Golden Visa requires no language tests or interviews. To maintain it, you do not need to spend time in Bulgaria, with renewal needed only every five years.

    – Path to Bulgarian Citizenship: After holding the Golden Visa for five years and passing a Bulgarian language exam, applicants become eligible to apply for Bulgarian citizenship.

    Language Requirement for Citizenship

    Obtaining Bulgarian citizenship requires passing a language exam or obtaining an exemption, akin to the Greece and Portugal Golden Visa programmes. Fortunately, there is an accessible solution: completing a 60 to 90-hour distance learning course that awards A1/A2 diplomas within a few months, exempting you from the official Bulgarian language exam.

  • Navigating the Complexities of Citizenship by Investment Due Diligence

    Navigating the Complexities of Citizenship by Investment Due Diligence

    An article by Melissa Kelley-Hilton FIMC, Founder and Chief Executive Officer, Hilton Global Associates Inc.

    In today’s global landscape, Citizenship by Investment (CBI) programmes offer individuals a unique opportunity to acquire second citizenship or residency in a foreign country.

    Often lauded for their potential economic benefits, CBI programmes have gained popularity among high-net-worth individuals seeking greater mobility, security, and access to global opportunities. However, behind the allure of citizenship by investment lies a complex web of challenges and considerations, particularly in the realm of due diligence.

    Effective due diligence is the cornerstone of any successful  CBI programme. Governments offering these programs must exercise caution to ensure that applicants meet stringent eligibility criteria and do not pose any risks to national security or the integrity of the programme. This necessitates a thorough examination of an individual’s background, financial history, business interests, and personal connections.

    One of the primary challenges in citizenship by investment due diligence is the identification of politically exposed persons (PEPs) and individuals with questionable backgrounds. PEPs, by virtue of their position or connections, may present heightened risks of corruption, money laundering, or other illicit activities.

    Therefore, it is essential for due diligence providers to employ sophisticated investigative techniques, including both human intelligence (HUMINT) and open-source intelligence (OSINT) searches across the deep, dark, and surface web, to uncover any potential red flags.

    Moreover, due diligence professionals must navigate the complexities of international regulations, legal frameworks, and jurisdictional differences. With the global nature of citizenship by investment, applicants may have assets, business interests, or connections spanning multiple countries, each with its own set of laws and regulations.

    This requires a nuanced understanding of cross-border compliance and the ability to collaborate with international partners and authorities effectively.

    In addition to identifying risks, due diligence in citizenship by investment also involves verifying the legitimacy of the source of funds. Given the potential for financial impropriety or illicit activity, it is imperative to conduct thorough investigations into the origins of an applicant’s wealth. This may involve tracing the flow of funds, scrutinizing financial statements, and assessing the legitimacy of business transactions.

    Furthermore, due diligence professionals must remain vigilant in detecting any undisclosed liabilities or adverse information that may impact an applicant’s eligibility for citizenship or residency.

    Whether it involves undisclosed criminal records, outstanding debts, or legal disputes, any material information must be brought to the attention of the relevant authorities for proper evaluation.

    Agents submitting applications on behalf of clients play a crucial role in the due diligence process. In addition to facilitating communication and providing necessary documentation, agents should also pre-screen applicants and conduct Know Your Customer (KYC) searches to identify any potential issues or discrepancies at an early stage.

    By proactively addressing any concerns and ensuring that applicants meet the requisite criteria, agents can streamline the due diligence process and enhance the overall efficiency and integrity of the application process.

    However, the complexity of global due diligence investigations cannot be overstated. In many cases, due diligence providers may encounter challenges such as language barriers, cultural differences, and limited access to reliable information.

    Boots on the ground are often essential to overcome these obstacles. Local agents and field operatives with intimate knowledge of the region can provide invaluable insights and facilitate on-the-ground investigations, enabling due diligence providers to gather accurate and timely information.

    Establishing a trusted contacts and resources network in key jurisdictions is also paramount. By leveraging local expertise and building strategic partnerships, due diligence providers can access a wealth of information and intelligence that may not be readily available through traditional channels.

    This collaborative approach ensures that due diligence investigations are thorough, comprehensive, and tailored to each case’s unique circumstances.

    In conclusion, CBI due diligence is a multifaceted process that requires expertise, diligence, and collaboration. By upholding the highest standards of integrity and professionalism, due diligence providers and agents alike play a critical role in safeguarding the integrity and credibility of these programmes, thereby promoting sustainable economic development and global mobility.

    By working together, sharing knowledge, and fostering continual innovation, the industry can collectively tackle the changing challenges and complexities of CBI due diligence. This ensures that these programs continue to offer a viable pathway for individuals looking to improve their personal and professional opportunities globally.

Pin It on Pinterest

Skip to content