By Jeremy Savory
Governments are reducing financial and investment criteria to enhance their citizenship by investment programmes
Savory & Partners predicts strong growth and increased demand for citizenship by investment (CBI) programmes in 2019, as we global restriction on immigration tighten, and CBI schemes are introduced in new countries.
The UK’s planned departure from the European Union on March 29, 2019 is expected to drive interest and applications from UK citizens in second citizenship opportunities within the EU. At the same time, stricter immigration policies in the US are expected to shift further, thereby increasing demand for CBI schemes in Europe and around the world.
In 2018, two new CBI programmes in Europe were launched in Moldova and Montenegro, with the latter accepting applications from early 2019. They join Cyprus, Portugal, Malta and other European countries in providing CBI programmes that offer individuals the opportunity to live, work and register their businesses in various jurisdictions.
Each government outlines its requirements for applicants, which include citizenship in exchange for a variety of investment methods, including real estate investments or a donation to a government fund which typically focuses on financially critical infrastructure or development projects and emergency relief.
Many governments around the world, including Turkey and Caribbean nations, have been working to increase the attractiveness of their CBI programmes, by reducing financial and investment criteria. Savory & Partners has seen particular interest from applicants in the MENA region and expects it to rise further in 2019.
More importantly, CBI programmes offer individuals peace of mind, and allow entrepreneurs to ensure business growth through access to new markets. It also gives countries an important revenue stream to build thriving, sustainable economies and to encourage job creation. So it is without a doubt that the coming year will ensure the continuing popularity of CBI programmes.