Associates Times, a US-based media group, recently organized a webinar with the world leading UK-based government citizenship advisory firm, CS Global Partners, on “Residency and Citizenship by Investment Programmes” offered by several nations. The Webinar highlights significant transformations that occurred in the last ten years.
CEO Micha-Rose Emmett and Director Paul Singh of CS Global Partners joined the Webinar and discussed the current situation in which people are looking for the opportunity to become global citizens as well as expand the boundaries of their businesses while assuring safety and security for their families.
In the Webinar, they highlighted the changes they’ve seen in the Citizenship by Investment industry over the last ten years. They also inquired about the differences between Residence by Investment and Citizenship by Investment, as well as the advantages of each.
The globally prominent UK-based Citizenship advisory firm, CS Global Partners, outlines the new treads in the CBI programme, due diligence, the application process, different options available, and other significant aspects of economic citizenships around the world.
The officials also addressed the CBI programme’s various investment options and the efficient and most direct path towards second Citizenship.
Moreover, Emmett and Singh also mentioned the CBI programmes offered by Dominica, St Kitts and Nevis, which have been recognized as the world’s oldest, longest-running, and best CBI programme and maintains security and other important characteristics.
During the Webinar, the interviewer asked the CEO of the CS Global partners, Micha-Rose Emmett, what are the substantial changes that have transpired in the CBI programme during the last ten years and what has kept it highly desirable, of which Micha Emmett replied, “I think the main thing is chaos, as soon as there is a world event or a regional event, we see an uptake of applicants coming from those regions, and it is much understood that with awareness, people realized the importance of getting access to global nations to do business and to educate children, so over the years, I have seen as the world changes and people have come from various different regions understanding more and more the importance of holding a second citizenship.”
While stressing the importance of a thorough due diligence process and extensive background checks, the Director of CS Global Partners, Paul Singh, stated that Citizenship by Investment is the most straightforward, clear-cut, and smooth method of obtaining Citizenship.
The Director mentioned, “Nonetheless, despite the swiftness of processing, it doesn’t undermine the programme’s integrity. It is a comprehensive due diligence process, and all five Caribbean jurisdictions have an extensive due diligence process. They’ve all ranked very highly in the pillar of due diligence, conducted by the financial times CBI Index, which scored all five Caribbean nations quite highly there.”
Paul Singh further outlined the steps that are involved in the CBI jurisdiction, “From submission of the application, the documentation and the relevant fees being paid on behalf of the agent. We must ensure that the application forms and supporting documents are complete to the appropriate standard. Additionally, agents conduct an initial screening of the applicant, which is their KYC. So the process is extensive.”
On the other hand, Micha Emmett highlighted the types of investment options that are available for the applicants, “CBI Programmes generally tend to have two options that are a non-refundable contribution that goes to the government or an investment in an approved project and donation investment.”
She further said, “Most of those approved projects tend to be real estate developments in some cases, specifically hotel room investments and then some islands; some countries have bonds; it really depends from jurisdiction to jurisdiction, but the two main ones are real estate investment and a donation investment.”
While determining which programme is best for an applicant and outlining the CBI Programme’s primary benefits, Paul mentioned the different types of investors that are interested in different investment options, and one could argue that contributing to the government fund is a simpler method.
He further states, “It can tend to be even an efficient route, whereas real estate has a more complex way than the direct contribution route to the government. Some investors may choose the real estate route because they want to have a tangible asset, and they may well be looking for a return on it, but in simple words, the government donation route is the most efficient, most secure, and it’s fastest route.”
Director, Paul Singh, emphasized which CBI programmes are suitable for applicants, said that applicants tend to look at the longevity of the programme, you know how well established that the programme is, and of course with St Kitts being the cradle of citizenship, and the programme was launched in 1984, so of course almost four decades ago.
Whereas, Dominica launched its programme in 1993 almost three decades, so they have been running the programme for a long time. These two programmes are held in very high regard by the international community and a lot of people who have gained citizenship from these particular islands had that tool for many years and it worked for them.
The interviewer raised a question of whether CBI benefits solely successful applicants monetarily or whether host countries get the benefit as well Micha replied, “The Citizenship by Investment programme is really a win-win solution for all, in that the investor who’s coming along and making the investment into the country and obtaining the second citizenship as Paul rightly elucidated in terms of the benefits, there’s also an equal benefit to the country in that as I mentioned earlier about the two routes to investment.”
She said, “The direct contribution to the government is so important because it’s non-tax revenue that comes into the country, and it’s so important in terms of building roads, building schools, building hospitals.”
“So we have seen some incredible things happen via the government using CBI funds, and in fact, a country like Dominica was nearly saved by CBI funds when Hurricane Maria came in 2017.”
In addition, Micha Emmett mentioned, “It’s both a direct investment for the country because it’s building hotels, it is building housing, but there’s also an indirect opportunity for the country as it creates employment opportunities for the people and the citizens of that country. So all in all, what’s great about working in this industry is that really we are providing a win-win solution for other parties involved.”
Meanwhile, while discussing the precise considerations that an investor must examine before qualifying for the CBI Program, Paul answered, it is essential to remember that applicants whose original documents are not in English will need to obtain a certified translation of their documents. The Documents may also require certification and apostille, depending on international law.
However, Paul asserted, “Also, depending on the national law of the country of which an investor is a national – they may or may not be able to retain dual citizenship status, so that’s a very important factor, and most Caribbean CBI countries, nonetheless, allow for dual Citizenship so they will not need to worry about that aspect.”
The CS Global Partners Director Paul Singh stated that Citizenship by Investment has proven to be a life-saving and life-changing experience for both the investors and the host nations. It offers the individual a variety of business opportunities, educational opportunities, and improved health care.
The officials of the CS Global partners met with individuals who had successfully earned Citizenship and demonstrated that their lives had changed entirely.
At last, the Director concluded that the Citizenship By Investment programme always provides second Citizenship to the investors with an excellent reputation to ensure the safety as well as the security of the nation.
