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Tag: second nationality

Cyprus to strip 26 people of citizenship acquired under investment programme

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Cyprus is to strip 26 people of their golden passports acquired under an investment scheme after “mistakes” were made, Interior Minister Constantinos Petrides announced on Thursday. Petrides, who spoke to reporters after a Cabinet meeting, did not disclose the names or nationalities of those concerned but said that they included people cited in recent media reports. The small Mediterranean island has had a citizenship for investment scheme since 2013 allowing wealthy non-European individuals to get a foothold in the European…

Increase of EB-5 Investment From $500,000 to $900,000

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The Office of the Management and Budget has completed its review of the proposed changes to the minimum investment into the EB-5 investor program. The Department of Homeland Security had proposed an increase from $500,000 to $900,000 for investments in Targeted Employment Areas (TEA) and from $1 million to $1.8 million for non-targeted employment areas. Called the EB-5 Immigrant Investor Program Modernization and initiated on January 13, 2017 the final step now is in publishing it as the final rule in the…

Brexit bill paused after British MPs reject accelerated timetable

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British MPs rejected Boris Johnson’s three-day Brexit legislation timetable by 322 votes to 308 on Tuesday evening. It’s a major blow to the UK prime minister’s wish to deliver Brexit by October 31. Johnson said after the motion to accelerate the deal failed that he would “pause” the Brexit legislation. Earlier, parliamentarians gave the Brexit legislation its first nod of approval in parliament, voting 329 to 299 to approve the second reading of the 110-page withdrawal bill. Johnson said earlier…

Good News! World Citizens Equity Partners Launched New Office in Port Harcourt

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We are delighted to announce the expansion of our successfully accomplishing services with the launch of our new office Port Harcourt branch, located at No 4 Woji Road – GRA phase 2 Port Harcourt – Nigeria.  The VIPs and delegations from different countries were part of our official opening the office at its launch. The new office will incorporate our firm’s ever-expanding Consultation and Business Investment Opportunities. Consultation Executives will be always available in the office and will be joined…

Boris Johnson: Beyond Brexit, what’s in the new PM’s in-tray?

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Brexit is THE priority of Boris Johnson’s government. The new prime minister has just 99 days until the UK leaves the EU, and he faces an uphill task to secure a new deal. But it’s not the only demand on Mr Johnson’s time. One criticism of Theresa May’s time in Number 10 is that other important decisions that affected the future of the UK were put on hold because Brexit became all-consuming. But these nagging priorities have not gone away. So…

Malta IIP Passes €1bn in Revenue, Has Turned Down €250m Due to High Rejection Rates

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Malta’s Office of the Regulator of the Individual Investor Programme (ORiip) today published its fifth annual report on the country’s citizenship by investment program. All told, the MIIP has now raised more than one billion euros since inception and could have made at least €250 more, were it not for its exceptionally high rates of rejection. Application volume cooling off The MIIP raised a total of €260,575,430 between July 1st, 2017 and June 30th, 2018. The lion’s share – north of €162 million…

Brexit and Investment Migration to the UK

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The UK continues to be an attractive destination for high-net-worth individuals. The state’s practice of welcoming talent and investment from overseas has led to the creation of a diverse and culturally rich society which appeals to those seeking not only tax efficiency, but political stability, excellent educational opportunities and the benefits that flow from the UK’s tradition of upholding the rule of law. The UK’s immigration policy is, however, in a state of flux. This emanates, most notably, from the…

EU citizenship for sale as Russian oligarch buys Cypriot passport

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Exclusive: Oleg Deripaska joins hundreds of rich people who have bought Cypriot nationality  The Russian oligarch Oleg Deripaska has bought a Cypriot passport under a controversial scheme that allows rich investors to acquire citizenship and visa-free access to the European Union, the Guardian can reveal.Deripaska, an aluminium magnate with connections to Donald Trump’s former campaign manager Paul Manafort, is one of hundreds of wealthy individuals who have applied for Cypriot nationality. His application was approved last year. The revelations will revive concern about…