IM Yearbook 2020/21

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WHAT’S GOING ON IN… Programme Updates A snapshot of key developments in the world’s most important investment migration markets 2020 has not turned out how many of us expected but the investment migration industry has not been as affected by Covid-19 as many other sectors. Most golden visa and golden passport programmes have in fact reported a surge in interest. We picked out a selection of the biggest market winners and losers for the past year. It isn’t an exhaustive list, but it will hopefully give you a flavour of how different countries and programmes are being affected by the current conditions. 48 Investment Migration Yearbook 2O2O/2O21
The Caribbean At the end of 2019, many Caribbean countries were on course to record economic performance or, at the very least, were expected to turn in respectable results. However, the coronavirus pandemic has dealt the vulnerable, tourismdependent economies of the Caribbean a heavy blow. In the five Caribbean countries that operate citizenship-by-investment programmes – Antigua and Barbuda, Dominica, Grenada, Saint Lucia and Saint Kitts and Nevis – hopes are high that investor funds will help their economies to recover. In an effort to remain attractive and ensure a steady stream of fresh applications, some nations have introduced discounts, mostly in the form of accepting a greater number of dependents. Applications are still flowing in, although the industry is not yet sure how attractive these programmes will remain in the future. While some point to the Caribbean’s new status as “Covid safe haven” given that the region has handled the Covid-19 relatively well, others believe investors will be more attracted towards larger countries in the post Covid-19 era. As things stand, there are several differences separating the Caribbean programmes, with the price being the most prominent one. The minimum investment required for one applicant in Saint Lucia, Antigua and Dominica is $100,000, while in Grenada and St. Kitts, it’s $150,000. Under the real estate option, Antigua’s minimum investment is $400,000; Grenada, $350,000; Saint Lucia, $300,000; Dominica and St. Kitts, $200,000. The future of the Caribbean CBI industry will most likely be defined by greater cooperation and collaboration. Although many in the industry doubt that the islands will agree on a set price, the expectation is that a joint approach can be achieved in areas such as the exchange of information and the harmonisation of application forms. Meanwhile, some Caribbean nations started offering remote work programmes in an effort to attract highflying digital nomads. The Cayman Islands, Barbados, and Antigua and Barbuda are among the nations that have launched a new type of visa for professionals who can work digitally and are seeking a safe, attractive workplace option. 3 Questions with Nestor Alfred, CEO of the St. Lucia Citizenship-by-Investment Unit What can you tell us about your operations and the 1 challenges presented by Covid-19 in 2020? Covid-19 did not impact negatively on our operations and presented the first opportunity to put into action our Business Continuity Plan. Our processing platform was so created to allow us to work remotely, and by the 24 th March 2020, the CIP staff was working remotely. Initially, there were some challenges being expressed by the due diligence firms, but this did not last a very long time. Additionally, some applicants had issues obtaining supporting documentation due to lockdowns in certain jurisdictions. We held many consultations with various stakeholders in the industry. We wanted all to be on board with the new way of conducting the process. Where applicants could not source supporting documents for their applications, we agreed to accept the application and still undertake the verification process and the due diligence. However, the decision on the application would only be made once the necessary documents are submitted. How do you believe investment migration will develop 2 in the Caribbean over the next few years? I expect there will be a major shift in collaboration and consolidation amongst the five islands operating citizenshipby-investment programmes – a joint approach that will cover application forms and the due diligence process. I believe there will be discussions on the creation of a processing and decisionmaking structure that would be accommodating for all islands. Do you have a final message about the key 3 benefits of St. Lucia’s programme? Citizenship-by-investment programmes should create significant long-term yields for investors - but this can only occur when there is an uncompromising commitment to impeccable standards of compliance, rigorous due diligence and accountability. By pursuing this agenda, we ensure a lifelong return on investment to our investors and visa-free access to 146 countries. Investment Migration Yearbook 2O2O/2O21 49
Page 1 and 2: IM INVESTMENT MIGRATION Win-Win Pat
Page 3 and 4: from IMC Education and Training: Gi
Page 5 and 6: 60 62 63 65 68 70 75 76 83 89 91 92
Page 7 and 8: INDATA Key Facts and Figures 100-60
Page 9 and 10: 750 Million People Would Like to Mo
Page 12 and 13: INDUSTRY OVERVIEW DOUBLING DOWN ON
Page 14: A Changing Market China has long be
Page 17 and 18: What’s your economic outlook for
Page 19 and 20: 400+ MEMBERS FROM 55+ COUNTRIES Int
Page 21 and 22: Covid-19 is upending the investment
Page 24 and 25: Interview with KRISTIN SURAK, Assis
Page 26 and 27: Interview with BRUNO L’ECUYER, Ch
Page 28: When the news broke about covid-19,
Page 31 and 32: on investment migration, the Commis
Page 33 and 34: C0% WE ARE PLEASED TO ANNOUNCE THE
Page 35 and 36: two stages: administrative and judi
Page 37 and 38: In conversation with KIERON SHARP,
Page 39 and 40: ● Codrington Although initially i
Page 41 and 42: Interview with GASTON BROWNE, Prime
Page 43 and 44: What are SDGs? They are a set of 17
Page 45: Another feature of investment migra
Page 48 and 49: ADVERTORIAL VCA boasts a specialize
Page 52 and 53: Europe Europe’s attractiveness as
Page 54 and 55: Southeast Asia Southeast Asia is th
Page 56 and 57: Interview with ALEX MUSCAT, Malta
Page 58 and 59: Simplicity. Safety. Sophistication.
Page 60 and 61: INVEST IN PARADISE. MAKE IT HOME A
Page 62 and 63: FIRST PERSON BOB KRAFT, Chairman, P
Page 64 and 65: LESSONS FROM LOCKDOWN MRVA SEES PRO
Page 66 and 67: RISK PROFILES CHANGE Don’t Be the
Page 68: Impact on the IM Industry Countries
Page 71 and 72: These programmes are not going to b
Page 73 and 74: IN THEIR W,RDS “I decided to foll
Page 75 and 76: A LOCAL PARTNER YOU CAN TRUST. With
Page 77 and 78: WORKING WITH THOSE YOU TRUST THE IM
Page 79 and 80: Due diligence has long been a thorn
Page 81 and 82: There is scope to introduce a minim
Page 83: United Kingdom United States Turkey
Page 86 and 87: Economic Impact Economically, Seixa
Page 90 and 91: Lose yourself… …and regain your
Page 93 and 94: HOW WE CONDUCT IN-COUNTRY CHECKS IN
Page 95 and 96: Beijing, China “Wealth creation i
Page 97 and 98: “Wherever I go, I want to be a ch
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INVESTING IN A GL BAL Rupert Gather
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In conversation with PARAG KHANNA,
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THE IMPORTANCE OF EB-5 Due Diligenc
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MARC AUDET PRESIDENT AND CEO AURAY
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KIERON SHARP CHIEF OPERATING OFFICE
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FRÉDÉRIC VILLA MANAGING DIRECTOR
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ROGELIO CACERES FOUNDER & CEO RCG G
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