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Driving License in St Kitts and Nevis

Prabhu Balakrishnan
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Driving License in St Kitts and Nevis

The St Kitts and Nevis Citizenship Investment Unit (CIU) has made an announcement saying that economic citizens can apply for driving license only by visiting the island. It is not possible to apply driver’s license without visiting the island and taking the required test.

  • Economic Citizens are required to be on island in order to apply for a driver’s license;
  • Developers and Agents are warned NOT to advertise that Driver’s Licenses can be obtained without being on island.

Further details about fees and classes of driving license can be obtained from SKNIRD Inland revenue department website

Australia opens permanent resident path to Hong Kongers

Prabhu Balakrishnan
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Australia opens permanent resident path to Hong Kongers

Australia has made special visa arrangements to Hong Kongers, in response to the security law in China. Australia will attract Hong Kong’s best and brightest individuals and companies who have contributed significantly to our economic growth and job creation. Last week UK also made similar announcement

 

The following special visa arrangements will extend permanent resident rights to students, skilled workers. Visa application centre in Hong Kong will reopen, which shut down during COVID-19.

 

There are almost 10,000 existing temporary skilled, temporary graduate and student visa holders in Australia who will be eligible for these special arrangements, with a further 2,500 outside Australia and 1,250 applications on hand. In addition There are more than 1,000 international companies that have their regional headquarters based in Hong Kong which might consider relocating to Australia.

 

Special Visa Arrangements

 

Students

  • Current and future students from Hong Kong will be eligible for a five year temporary graduate visa on the successful conclusion of their studies, with a pathway to permanent residency after five years.
  • Former students already on a temporary graduate visa will be eligible for an extension of five years from today in addition to the time they’ve already been in Australia, with a pathway to permanent residency at the end of that period.
  • Students who study at a regional campus will continue to be able to access a pathway to permanent residency after three years.

Temporary skilled visas

  • Current temporary skilled visa holders from Hong Kong will be eligible for an extension of five years from today in addition to the time they’ve already been in Australia, with a pathway to permanent residency at the end of that period.
  • Future Hong Kong applicants for temporary skilled visas will be eligible for a five year visa, provided they:
    • meet occupational skills lists and Labour Market Testing requirements; or
    • qualify through the Global Talent temporary visa scheme, which is for exceptional talent where the sponsoring employer pays above the Fair Work High Income Threshold of $153,600.
  • These future temporary skilled visa holders will also have a pathway to permanent residency after five years.

Attracting the best and brightest

  • The Government will bolster efforts to attract Hong Kong’s best and brightest through the Global Talent and Business Innovation and Investment Programs, both part of the permanent migration program.
  • These programs will be prioritised and a dedicated Global Talent officer will focus on facilitating the Hong Kong caseload.
  • To support future applications we will re-open our visa application centre in Hong Kong which shut down during COVID-19.

Attracting businesses

  • New incentives will be developed to attract export-oriented Hong Kong based businesses to relocate to Australia. As well as economic incentives, there will be permanent visa pathways available for all critical Hong Kong based staff of the relocated business. The government will particularly target businesses that presently operate their regional headquarters out of Hong Kong who may be looking to relocate to a democratic country.

 

Read the official announcement here

Montenegro tightens rules for development projects

Prabhu Balakrishnan
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Montenegro tightens rules for development projects

Montenegro has made new amendments in tightening rules for development projects for citizenship purpose in the field of tourism.

 

From now on, developers who make applications for approval of development projects for citizenship by investment program must present the following credentials

 

  • Irrevocable bank guarantee payable on the first call issued by a credible bank, in favor of the Government of Montenegro, in the amount of 50% of the minimum investment
  • Solid Business plan of the tourism project.
  •  Independent Auditor’s Report.

 

So far 7 projects have been approved mostly resort hotels, one application has been rejected by the tourism ministry for the citizenship by admission program for not meeting the requirements

 

The list official construction of hotels and resorts approved by Government of Montenegro are

 

  1. Condo Hotel  „Kolašin Resort & Spa“, Kolašin
  2.  Condo Hotel Breza, Kolašin
  3. Hotel Kraljičina plaža“, Miločer, Budva
  4. Durmitor Hotel and Villas“, Žabljak
  5. Bjelasica 1450 Kolašin
  6.  K16 Kolašin
  7. Boka Place

 

Here are some of the latest updates on the development projects, provided by the Govt of Montenegro

 

1) Construction project of Hotel “K16”, Kolašin, submitted by “SKI RESORT KOLAŠIN 1600” LLC, which the Cabinet, at the session of 23 April 2020, at the proposal of this Ministry, included on the List of development projects in the field of tourism. This is a project which, among other things, plans to invest in the construction of a 4-star hotel in Kolašin, with a capacity of 116 accommodation units, estimated budget of EUR 5,998,750, and the investor’s intention is to create 58 new jobs within the hotel.

 

2) Construction project of the hotel “Boka Place”, Tivat according to a mixed business model, submitted by the “PM 4.1” LLC as a subsidiary of the company “Adriatic Marinas”, Tivat, which the Cabinet, at the session of 11 June 2020, included on the List of development projects in the field of tourism. This is a new project that is being implemented within the hotel and tourist complex Porto Montenegro. The investment plans construction of a hotel according to a mixed business model of 5-star category, with capacity of 240 accommodation units, estimated value of EUR 43.67 million, and the investor intends to create 96 new jobs.

 

Montenegro requires atleast EUR 250,000 investment in any of the approved projects for fast track citizenship. They must also pay a EUR 100,000 per application fee which will go towards the Govt fund. This is a limited citizenship program only 2000 investors will get to become citizens through investments.

 

 

Malta IIP to be downgraded as residence scheme

Prabhu Balakrishnan
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Malta IIP to be downgraded as residence scheme

The Maltese citizenship by investment program (IIP) will be scrapped and will be replaced with new residence program with new set of rules after september. This was announced by Parliamentary secretary of citizenship affairs, Alex Muscat yesterday.

 

These measures were taken after criticism from european commission and negative publicity associated with the Individual investor program. The commission raised concerns for risks associated with investor citizenship scheme with tax evasion, money laundering and visa free regime in the Union. By making these significant changes, Malta expects to strengthen good relations with the EU. The new changes has been approved by cabinet and parliamentary approval will be final.

 

MIIPA will continue accepting applications for citizenship under the Malta Individual Investor Programme Regulations until the 30th of September 2020 deadline.

 

Here are quick insights into the new residence scheme which will be implemented after september. Regulations will make it impossible to acquire maltese citizenship by investment without living in the country for atleast a year.

 

  • Two investment routes to open for the residency scheme:  Pay €750,000 (citizenship after 1 year) or €600,000 (citizenship after 3 years)
  • Limited Quotas: 400 citizenships per year and 1500 total limit
  • Pay mandatory €10,000 donation to a registered philanthropic organisation.
  • Buying a real estate value increases  to €700,000 (from €350,000 currently)
  • Minimum Renting  increases to €18,000 (from €16,000) per annum.
  • Applicant has to pass due diligence checks before filing application.
  • Applicants have to pay additional €50,000 for each dependent.
  • MIIPA agency will be shutdown and new agency will be introduced to handle the cases.
  • Revenues to be distributed to 30% to the government’s consolidated fund and 70% to the National Development and Social Fund.
  • Names of new citizens will be published every year in gazette (no changes)

 

Malta IIP has raised billions in revenues for the Government. Recently in a survey 65% of the Maltese voters supported the IIP scheme, revealed by Alex muscat in his twitter post. So far Malta is expected to denaturalize 4 families who obtained citizenship by breaking the rules, two have already been revoked of citizenships.

 

“By welcoming just 300 new citizens a year we have earned €1.4 billion in six years. The funds have been a tremendous boost to the Maltese economy and will prove to be even more useful as we recover from the hit the economy has taken from COVID-19.” said Alex Muscat

 

The Malta Chamber of Commerce, Enterprise and Industry welcomed the changes proposed to the Individual Investor Programme (IIP) by Government in Parliament yesterday.

 

The Chamber expressed concerns that raising the rental minimum will not serve to separate the rental market for IIP investors from that of the average wage earner who usually rents at the same value. The Chamber believes that this will only serve to artificially inflate rents for the rest of the rental market and hence prejudice industry competitiveness.

 

The Malta Chamber is satisfied with the proposals and actions communicated by Government yesterday and remains committed to work hard to improve the quality of local standards and repair the damage to the Country’s reputation internationally by promoting ethics, professionalism and integrity with credibility.

 

St Kitts Announces Reduced Limited Time Citizenship Contribution

Prabhu Balakrishnan
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St Kitts Announces Reduced Limited Time Citizenship Contribution

The Government of St. Kitts and Nevis has announced a limited time reduction in the citizenship contribution for a family of up to four persons under the country’s Citizenship by Investment (CBI) Programme, as the Dr. the Honourable Timothy Harris-led Team Unity administration looks to put the Federation back on a path of growth and development.

 

“The contribution, which is now at US$195,000 for a family of up to 4 will be reduced to US $150,000 as part of a limited time offering,” said Prime Minister Harris at his monthly press conference held earlier today, Friday, July 03 – his first since the historic re-election of the Team Unity administration on June 05.

 

The limited time offering runs from July 01 to December 31, 2020.

 

The minimum contribution for a single applicant will remain at US $150,000.

 

Additionally, the St. Kitts and Nevis Prime Minister announced that stamp duty will be reduced to 2.5 percent over the same period to assist the CBI’s Real Estate option.

 

“These initiatives we hope will stimulate market demand, enhance our competitiveness in a market challenged by wealth loss occasioned by the dislocation of the global economy by COVID-19 and the greater uncertainly and risk which hover over the entire world as a consequence of COVID-19,” Dr. Harris added.

 

While stressing that these are time bound offers, Prime Minister Harris stated that, “These resources will help us to continue our safety net programmes, reduce poverty and indigence and support the build out of our economic infrastructure on Nevis and on St. Kitts while enhancing our fiscal and economic resilience.”

 

This is not the first time the Team Unity Government has introduced a time specific offering as part of its CBI programme in response to the needs of the people of St. Kitts and Nevis.

 

In September 2017, the Hurricane Relief Fund was established by the Citizenship by Investment (CBI) Programme as a temporary device to assist households that were affected by Hurricane Irma. To date, more than 2,000 households benefited from that highly successful programme.

UK to offer 5 year residence to British Nationals (Overseas) citizens in Hong Kong

Prabhu Balakrishnan
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UK to offer 5 year residence to British Nationals (Overseas) citizens in Hong Kong

The UK Government is set to extend residence rights for British Nationals (Overseas) citizens in Hong Kong after China’s imposition of a national security law on Hong Kong. This announcement was confirmed on July 1 by the UK Government.

 

This new  immigration route will allow BN(O)s to come to the UK removing current 6 month limit, granting them 5 years limited leave to remain, with the ability to live and work in the UK. After these 5 years, they will be able to apply for settled status and, after a further 12 months with that status, apply for citizenship.

 

Here is a quick summary of the BNO immigration route, as announced by UK Govt.

 

  • Extension of visa rights follows increasing restrictions on the rights and freedoms of the people of Hong Kong
  • Right to live and work in the UK for longer for 5 years
  • Path to full British citizenship

 

Today, about 350,000 of the territory’s people hold British National (Overseas) passports and another 2.5 million would be eligible to apply for them. At present, these passports allow visa-free access to the United Kingdom for up to six months.

If China imposes its national security law, the British government will change our immigration rules and allow any holder of these passports from Hong Kong to come to the UK for a renewable period of 12 months and be given further immigration rights, including the right to work, which could place them on a route to citizenship.

This would amount to one of the biggest changes in our visa system in history. If it proves necessary, the British government will take this step and take it willingly

– Boris Johnson, Prime Minister, Speech on July 3

 

This new immigration route will be implemented in the coming months, with exact date and further details to be announced soon. Until this is implemented, standard immigration checks apply for those who wish to travel to UK for BN(O)s from Hong Kong and will not have the automatic right to live or work in the UK

 

“The UK has a historic and moral obligation to British Nationals (Overseas) in Hong Kong and we will honour our commitment to them.”, said Priti Patel

 

Hong Kong was a British colony from 1842 until its transfer to China in 1997. British National (Overseas), abbreviated BN(O), is a class of British nationality that was granted by voluntary registration to British Dependent Territories citizens who were Hong Kong residents before the transfer of sovereignty to China in 1997.

 

Individuals with this nationality are British nationals and Commonwealth citizens, but not British citizens.  There are an estimated 2.9 million BN(O)s; about 350,000 of them hold active British passports with this status and enjoy consular protection when travelling abroad.

 

Since most BN(O)s also hold Chinese nationality and because China treats its dual nationals as if they were only Chinese, they generally cannot access this consular protection within Hong Kong, mainland China, or Macau.

 

EU opens external borders to 15 countries

Prabhu Balakrishnan
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EU opens external borders to 15 countries

The European Union has decided to lift border restrictions for 15 countries, effective from July 1 and the list of countries and restrictions will be updated once in every 2 weeks.

 

  1. Algeria
  2. Australia
  3. Canada
  4. Georgia
  5. Japan
  6. Montenegro
  7. Morocco
  8. New Zealand
  9. Rwanda
  10. Serbia
  11. South Korea
  12. Thailand
  13. Tunisia
  14. Uruguay
  15. China (subject to reciprocity)

 

Besides the above list, countries where travel restrictions continue to apply, the following categories of people should be exempted from the restrictions:

 

  • EU citizens and their family members
  • Long-term EU residents and their family members
  • Travelers with an essential function or need, as listed in the Recommendation.

 

Schengen associated countries (Iceland, Lichtenstein, Norway, Switzerland) also take part in this recommendation.

 

Third-country nationals who are long-term residents under the Long-term Residence Directive16 persons deriving their right to reside from other EU Directives or national law or who hold national long-term visas, as well as their respective family members.

 

Member States can, however, take appropriate measures such as requiring such persons to undergo self-isolation or similar measures upon return from a third country for which the temporary travel restriction is maintained, provided they impose the same requirements on their own nationals.

 

These categories of travelers for essential need are also exempted, according to the decision

 

i. Healthcare professionals, health researchers, and elderly care professionals;

ii. Frontier workers;

iii. Seasonal workers in agriculture;

iv. Transport personnel;

v. Diplomats, staff of international organisations and people invited by international organisations whose physical presence is required for the well-functioning of these organisations, military personnel and humanitarian aid workers and civil protection personnel in the exercise of their functions;

vi. Passengers in transit;

vii. Passengers travelling for imperative family reasons;

viii. Seafarers

ix. Persons in need of international protection or for other humanitarian reasons

x. Third-country nationals travelling for the purpose of study;

xi. Highly qualified third-country workers if their employment is necessary from an economic perspective and the work cannot be postponed or performed abroad.

 

Read more here

Cyprus did not process any application filed after Jan 31

Prabhu Balakrishnan
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Cyprus did not process any application filed after Jan 31

The Cyprus Government has today revealed that no application filed after Jan 31, 2020  for the citizenship by investment scheme has been examined or approved. Most of the applications that have been examined so far were from 2019 backlog

 

Responding to queries from lawmakers, Interior Minister Nouris said the government has not processed any applications filed after 31 January this year.

 

“These have been put on hold, and will be processed once the new regulations are passed. The only applications currently being examined are those filed in 2019.”

 

The new files filed after Jan 31, 2020, will only be examined after the new regulations are passed, Cyprus mail reported today.

 

The Cyprus government on Monday tabled to parliament the new stricter regulations and criteria for Cyprus investment scheme, after being rocked by scandals and pressure from European Commission.

 

  • Stricter Anti-money laundering rules checking the applicants.
  • Background checks will start immediately once the applicant registers with agent or service provider. The license of service providers will be issued for one year with renewals.
  • Cyprus will monitor the applicant for 10 years once the citizenship is granted. The citizenship is withdrawn if the investor, has been convicted in the Republic or any other country for a serious criminal offence which entails a prison sentence of five years or more; are wanted by Europol or Interpol for a serious criminal offence; or have been placed on a sanctions list.

 

In 2019, Cyprus has imposed a schengen visa requirement as additional layer of vetting giving other member states a brief window too looking into the subjects applying for citizenship scheme.

 

Cyprus cannot issue schengen visas as it is still not a part of schengen area. Cyprus has filed application to join schengen area in the future.  Since June 2014 Cyprus accepts a valid Schengen Visa (category C, double or multiple entry) equivalent to its national visa for transit through or intended stay on its territory not exceeding 90 days in any 180-day period.

 

Cyprus has also appointed internationally renowned third party due diligence providers to conduct background backgrounds on applicants. These firms will conduct enhanced global due diligence on non-Cypriot citizens applying for the acquisition of Cypriot citizenship through naturalization by exception (Cyprus Investment Program – CIP) and on other relevant individuals (family members or known associates), in order to verify their identity, background, financial history, and sources of wealth and assess the relevant risk for corruption, terrorism, money laundering, political sanctions, and their reputation.

 

In recent years, Cyprus has emerged as a new destination for wealth migration, attracting a number millionaires to its shores. So far €7bn have been invested and 4000 passports for millionaires have been issued for citizenship purpose.

Under the Cyprus investment scheme rules, minimum of €2m in Cyprus, of which €500,000 into a residence and additionally applicant will pay one time €75,000 fee to the Cyprus Land Development Corporation, and another €75,000 to the Research and Innovation Foundation. There is a limited quota of 700 applicants are accepted every year.

 

Cyprus is the New Destination for Wealth migration

Prabhu Balakrishnan
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0
Cyprus is the New Destination for Wealth migration

In recent years, Cyprus has emerged as a new destination for wealth migration, attracting millionaires to its shores. Watch our short video below.

Beautiful clean beaches, stunning coastline, warm weather with 300 days of sunshine, EU membership states, powerful highly respected EU passport offering visa free access to 174 countries, the citizenship by investment program, low corporate taxes have been the major pull factors attracting millionaires to the shores of Cyprus.

 

The Citizenship by investment scheme so far has collected some €7 billion euros into Cyprus, most of invested in real estate sector. The scheme is limited to 700 applications every year. All applicants are required to go through background checks before being approved of cypriot citizenship.

 

It is possible to invest €2m in real estate and become a EU citizen in six months through the investment scheme in Cyprus. The citizenship rights also extended to family and children.

 

A second passport cannot be ignored by wealth advisors in wealth management. It is a new asset class of the 21st century becoming a new trend for rich and wealthy due to globalisation.

 

Become a world citizen!

New Grenada Consulate in Dubai to bolster CBI program

Prabhu Balakrishnan
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New Grenada Consulate in Dubai to bolster CBI program

Grenada has opened a new consulate in Dubai, UAE to support CBI citizens living in Middle east and further develop economic, cultural and scientific ties with the UAE.

 

The newly opened Grenada’s Consulate in Dubai aims to bolster the country’s citizenship by investment program, working actively to promote it to potential investors and its many benefits for family members and the peace of mind that comes with convenient global mobility.

 

Consulate of Grenada has the responsibility to provide consular services  for both nationals of Grenada living in the UAE and visitors to Grenada.

 

The Consulate has two other major roles: it is the Permanent Mission of Grenada to the United Arab Emirates and it also provides Consular Services for its citizens.  The Consulate negotiates with the  Government of the United Arab Emirates and promotes friendly relations between Grenada and the United Arab Emirates, developing their economic,  cultural and scientific relations.

 

Rose-Ann Benjamin has been appointed as Grenada’s first Consul General to the UAE.

“It is a pleasure to be representing Grenada in the UAE,” said Rose-Ann Benjamin, Grenada’s Consul General. “I’d like to thank the Government of the UAE for this opportunity and the warm welcome I have received. My Government is serious and committed to strengthening the relations between the two countries.”

 

The Grenada Consulate in Dubai has received Covid-19 donations citizens of Grenada living in Dubai and the Middle East. So far, a shipment of 2,000 face shields, gloves, medical shoes, ear, and headcovers along with other monetary contributions made by citizens living in UAE.

 

The Grenada Consulate will be providing the following consular services:

 

  • Facilitation of trade and investment information for interested persons.
  • Certification of original Grenadian document
  • Visa issuance
  • Passport renewal of Grenadian passport
  • Attestation of Grenadian document
  • Arrangement of meetings with private and public sectors in Grenada for persons desirous to hold a meeting in Grenada or online.
  • Provision of information about Grenada Citizenship by Investment Program.
  • Expo 2020 /2021 information
  • Information on the state of Grenada Carriacou and Petite Martinique.
  • Grenada and COVID-19
  • Investment in Grenada

 

The Grenada Consulate website is https://grenadaconsulatedubai.com. They can be also reached via email at [email protected] or call us at +971 4 578 6562
 

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