Briefing Held To Discuss The EB-5 Investment Program

The U.S. Chamber of Commerce, the EB-5 Investment Coalition and the Real estate Roundtable gathered together for a brief meeting on October 14^th 2016. The purpose of this meeting was to discuss and inform House and Senate on the inner workings of the EB-5 Investment Program and the possible outcome of the December 9^th expiration on the community. The panel was moderated by the Senior Vice President and Counsel at the Real Estate Roundtable, Duane Desiderio. The discussion was initiated by mentioning the basic eligibility requirements to qualify for the EB-5 Visa and the projects that use EB-5 investments, such as developments in rural areas, infrastructure projects and charter schools, etc.

The founder of Education Fund of America, Gregory Wing, mentioned at the briefing that his fund has utilized the EB-5 capital at several occasions to help finance 26 charter schools across 7 different American states. Mr. Wing also discussed that the lack of the EB-5 investment would have adversely impacted the schools and they wouldn’t have existed, had it not been for the EB-5 investments. He further stated that this would also affect all those children who require schools that cannot operate without sufficient funding.

The founder and President of EB-5 Capital, Angelique Brunner also spoke at the briefing. She described how the projects in Washington D.C. have transformed the economic landscape. She further stated how the banks refused to lend money due to the recession in 2007 and that is when she started using the EB-5 Investments. Ms. Brunner explained that the use of EB-5 capital had allowed the company to fund projects which earned them awards from the Urban Land Institute.

Moreover, Dan Healy, Chief Executive Office of Civitas Capital based in Dallas Texas, stated at the briefing that the EB-5 program costs US taxpayers nothing, and the same investors who initially invest in the EB-5 program, often come back to reinvest in other projects in the United States which have no connection with immigration .

It can be said that during the briefing all the reasons for sustaining the EB-5 Immigrant Investor Program were discussed. The briefing concluded with stimulating questions and discussions from House and Senate staff members.

For more information on Immigration To USA through the EB-5 Investor Program, please kindly visit Lalani & Associates .

The New e-Service Portal To Renew Pakistani Passports Within 16 Minutes

Recently an e-Services Portal has been introduced by the Interior Ministry of Finance which will enable overseas Pakistanis to renew their national passports within 16 minutes rather than an entire day, and the renewed documents are to be delivered at their doorsteps.

Phase I of the new system launched went live last week, according to the reports of the local media. This portal is to be utilized only for Machine Readable Passports. Officials also stated that the establishment of this new system will lead to alleviation in the misuse of passports and extortion by ‘agents’.

According to the website, the Online Application Process  will take approximately 16.5 minutes. The renewed passports will be delivered to the location provided by the applicants within 10 days.  Moreover, an urgent renewal will take 4 days to process.

“UAE-based Pakistanis can avail of this 24-hour service as of now,” Acting Consul General of Pakistan Rana Samar Javed told Khaleej Times.

Individuals with a passport validity of 7 months are also applicable to apply for an online renewal. After filing of the application, the documents will be processed in Islamabad and delivered to the location provided by the applicant.

He further said, “This also means that people can save time by applying online instead of personally visiting the embassy in Abu Dhabi or consulate in Dubai,”

“This facility benefits overseas Pakistanis the most since they all have these travel documents and have to visit missions to renew their documents,” added Samar.

However, currently the e-Service portal cannot be used for the application of new passports and can also be utilized for existing documents.

People will have to Visit The Consulate in cases where they are applying for a new passport such as for a newborn, since there are no previous records,” explained Samar.

For latest updates, please feel free to visit Lalani & Associates.

Major Changes Implemented To The Cyprus Citizenship By Investment Program

The Cyprus Citizenship by Investment Program (CIP) was launched by the Cypriot Government with the purpose of attracting foreign direct investment into the country. This program grants full Cypriot Citizenship to those individuals who invest more than EUR 2 million in real estate along with meeting the other requirements.
In September 2016, the Cypriot Government implemented changes to the already famous Cyprus Citizenship by Investment Program. Following are the major changes:

• Reduction in the minimum investment amount to EUR 2 million from EUR 2.5 million.
• Main applicants can secure citizenship for dependent parents, provided that an additional EUR 500,000 + VAT will be invested in the purchase of a private residence in Cyprus.

The restructured Cyprus Investor Program aims to maintain the exclusive nature of the Cypriot passport, which is currently ranked at 12^th position according to the Passport Index. These changes will in no way interfere with the unique features of this program which includes a fast processing time of 3 months for the qualified investors to receive Cypriot Citizenship approval. This feature makes it the fastest programs in Europe, beating similar Citizenship by Investment Programs for Malta, Portugal or Bulgaria.
Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception if they meet one of the investment criteria given below. The qualification may either be done personally or through company/companies in which the applicant acts as a shareholder or even as a high-ranking senior manager:

1. Real estate, land development and infrastructure projects: Under this option the applicant must make an investment of at least € 2,000,000 in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.

1. Investment in the purchase/creation/contribution of Cypriot businesses or companies:
   Applicants opting for this option must invest at least € 2 million in the purchase, creation or participation of businesses or companies currently functioning in the Republic of Cyprus.
   These businesses or companies should evidently have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens

3. Financial assets of Cypriot companies or organizations:  Applicants must make an investment of at least €2 million in regulated funds in the Republic of Cyprus. Investors need to maintain the purchased assets for a period of three years.

3. Combination of any of the investment options amounting to at least € 5,000,000: 
   Applicants can choose a combination of options 1, 2, 3 which should amount to an investment of at least € 5,000,000 in total.

The Cyprus CIP comes with many benefits, including attainting citizenship of an EU member state, the right to live, work and study in any of the 28 EU countries and visa free travel to 155 countries. Moreover, this program also has flexible options with no physical residence requirement and approval granted usually within 90 days. Lastly, the main benefit is the granting of full citizenship and passports to the principal applicant and included family members.
For more information about the Cyprus Citizenship by Investment Program, please feel free to visit Lalani &  Associates.

A Massive Change In The Trend Of Mexican Immigrants Entering United States

The Pew Research Center released a report on Thursday which reveals some astonishing facts about Mexican immigrants. According to it, more Mexicans are now returning to their home country in comparison to the number of Mexicans going to United States, which has happened for the first time in decades.
The report showed statistics according to which, between the years 2009 -2014, approximately 870,000 Mexicans entered United States, whereas 1 million went back home, leading to a net loss of 130,000 Mexican immigrants for United States.  This shocking change comes at a time when immigration has become a combative subject in the presidential race of 2016, where both the Republican and Democratic parties are constantly battling over the best way of rejuvenating the Immigration System of the nation.
It was stated by the director of Hispanic research at the center, Mark Hugo Lopez, that the main reasons behind the fall in the number of Mexican immigrants were the Great Recession in the United States which made job hunting more difficult,  a progressing Mexican economy, as well as stricter border security.
Mr. Lopez further mentioned that there are chances of an increase in the number of Mexican immigrants into the country if the economy of United States keeps improving. However, due to the stable growth of Mexico’s economy and tighter security along the Southwest Border, chances are that United States won’t be able to receive a huge influx of legal and illegal Mexican immigrants like it did in the recent decades, where the number of Mexican immigrants hiked up from 3 million to an astonishing number of 13 million immigrants.
“The nature of immigration itself is beginning to change,” Lopez said. “It looks like Mexican migration is at an end.”
An alarming number of Central Americans have escaped violence in the past years, limiting the country’s capacity to process requests for asylum. Moreover, United States is receiving more immigrants from China, India and other Asian countries who are coming in as students and high-tech workers.  The director also added that chances are that Asians will hold a majority share of the immigration population in the near future.
The downtrend in Mexican migration also signifies that the profile of Mexican-born Immigrants In The United States has altered drastically. They have become more settled in the U.S., are older on average and have finished high school and college at higher rates. For example, 76% of Mexican-born immigrants in the United States had not completed high school in 1990. In comparison, 42% had completed high school and 18% had started or graduated from college by the year 2013.
The report also showed that only 14% out of the 1 million Mexicans who returned to their country since 2009 gave deportation as the reason behind their move back to Mexico. A majority said they came back out of their own will, whereas 61% claimed they did so to reunite with their families.
Moreover, Mexicans have fewer ties to people living in the United States. In 2007, 42% of Mexicans surveyed by Pew said they kept in touch with friends or family in the United States, in contrast to 35% in 2015.
For more updates, please feel free to visit our website Lalani & Associates.

Antigua And Barbuda To Attract Investment And Tourism From The Middle East Now

The Citizenship by Investment program for Antigua and Barbuda is one of the most famous Caribbean Citizenship Programs in the world, granting fast track citizenship and passport with 3-6 months. There is a possibility that Antigua and Barbuda will oversee a substantial hike in investment and travel from the Middle East. An exclusive exposition style conference will be held in October 2016 at Dubai’s Palazzo Versace Hotel, highlighting the islands’ exceptional investor and citizenship benefits.

Over the past years, the twin islands have been successfully attracting foreign funds as a result of their low-tax structure, income tax free investment, capital gains tax, inheritance tax and wealth tax. This country has already witnessed a significant rise in investment from the Middle East, including a recent MOU for $120 million for the construction of a luxury resort in the South of the island. This one-of-a-kind Caribbean resort, Callaloo Cay, is spread over 32 acres of beachfront and is expected to host the best of class, beauty, opulence.
High net worth investors from around the world have obtained Residency For Antigua And Barbuda since the commencement of the Citizenship by Investment Program in 2013. Successful candidate of this program will enjoy visa-free travel to more than 130 countries including the Schengen Zone, Canada, Hong Kong, Singapore, etc. The Antigua and Barbuda passport is ranked as the 25th most powerful passport in the world.

These scenic Islands have welcomed very popular celebrities such as Robert De Niro, Gorgio Armani, Richard Branson, Oprah Winfrey as well as investors such as James Packer. Being the English speaking country of the Leeward Islands, Antigua and Barbuda have become a most frequently visited destination for wealthy tourists, coming from around the world including the US, Canada, Asia and now from the Middle East as well. Keeping this in consideration, it is no surprise that tourism generates approximately 80% of the Islands’ income.
In the coming month of October, Callaloo Cay will be the platinum sponsor at the expo-style conference promoting Antigua and Barbuda as the top destination of choice for both investment and tourism. The invite-only event will draw attention to the striking features of the islands and will be attended by a high profile travel delegation from the twin islands including Prime Minister – Hon. Gaston Browne, Ambassador to the UAE, His Excellency Casroy James, Minister of Foreign Affairs, Hon. Charles Fernandez, and Special Economic Envoy and Hollywood Icon – Robert Deniro.

This coincides with yet another milestone as Antigua and Barbuda gets set to become one of the first organizations of the Eastern Caribbean States (OECS) to open an embassy in UAE.
For more information about the Antigua And Barbuda Citizenship by Investment Program, please feel free to visit our website Lalani & Associates.