Dominica Citizenship by Investment Program: Cost Structure To Remain The Same

Many speculations had been circulating regarding the pricing thresholds of the Dominica Citizenship by Investment Program. There were doubts that the investment amount required for this program would go up. However, according to the announcement made by the prime minister of Dominica, Roosevelt Skerrit, during his Budget presentation, the cost of citizenship under the Dominica Investment Program will remain unchanged.
This announcement confirms that Dominica citizenship will continue to start from $100,000, and will therefore remain the least expensive of all the Caribbean citizenship programs.
During the presentation, Mr Skerrit mentioned that the economic citizenship program went beyond all expectations by managing to accumulate more than US$200,000 funds. These funds have been a major contribution in financing the recovery efforts after Dominica was hit by the tropical storm Erika.
The cost structure for the Dominica Citizenship Program has been given below:

Family Member	Fee structure
Single Applicant	$100,000
Principal applicant & Spouse	&175,000
Applicant, spouse & up to 2 children below 18 years	$200,000
Additional dependents other than spouse	$50,000

Currently, more than one 5-star hotel brand has made the commitment with other residential and hotel resorts to build more resorts on the island. This will give the investors more alternatives to choose from.
As an alternate option, the government of Dominica also offers the real estate investment option to obtain Dominica passport. The minimum amount required for investment to be eligible under this option is $200,000, covering a family of four persons. There is only a slight difference between the real estate and donation option that is why applicants are encouraged to invest in government approved projects in the country of their second citizenship.
According to the prime minister, dependence on the program to fund capital projects alleviates the burden on tax payers. As he stated, “In an age where development financing is dwindling, and the force to gain access to available financing is becoming more onerous, governments, the world over, must find more credible ways and means of raising financing, for development programs. The alternative will be to increase domestic taxes, and /or contract additional loans.”
Following the prime minister’s presentation, Jeremy Savory, CEO and founder of the citizenship by investment advisory firm Savory & Partners, also stated, “This announcement is extremely positive as it keeps second citizenship accessible for a greater share of the region’s population seeking a second passport. In particular single applicants, or families with children over 25 who would be double, triple or multiple applications it is a cost effective alternative to other Citizenship by Investment jurisdictions. Over the last 12 months we have successfully processed almost 100 high quality applications in anticipation of a price increase, so this extension will come as welcome relief to those who were concerned they could not submit their application before 1st August 2016.”

About the Dominica Citizenship by Investment Program

The Dominica Immigrant Investor Program

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has been functioning since 1993, which makes it one of the oldest and most stable dual passport programs in the world. The applicants have to go through a thorough investigation procedure which may last up to 3 months. At the end of this time, successful applicants will be granted Dominica citizenship. The government of Dominica accepts applications only from government approved agents.
The passport grants visa free travel to over 127 countries including the United Kingdom and the Schengen Zone. As a member of the Commonwealth, Dominica passport holders may stay for up to six months in the UK and three months in European countries.
The Dominica passport also provides investors with more business and banking opportunities, substantial tax benefits, as well as a safe and secure environment for families.

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For more information regarding Immigration To Dominica under the Dominica Citizenship by Investment Program, please feel free to visit our website Lalani & Associates.

A Massive Surge In Residency And Citizenship Applications By UK Citizens

The insecurities rooting from the very popular Brexit Saga has got many UK citizens looking for ways to safeguard their access to the EU. In the two months following the vote by UK citizens to exit the bloc, there has been an extraordinary increase in either the applications for citizenship, European Union passport applications or enquires about their European Permanent Residency status, as reported by 16 European embassies and high commissions.
The opening of the UK has been considered as a new market by all those European countries that are operating a Citizenship or Residency by Investment Program, where British investors are extremely careful about shielding their rights to freely travel and work anywhere in the EU. Ireland, the most closely connected country to Britain, announced in August that it had received a 17% increase in the applications for citizenship. Moreover, it was shared by the Portuguese Embassy that they faced a constant surge in the number of queries regarding the acquirement of Portuguese nationality, while Greek and Latin officials also witnessed a higher than usual interest. Furthermore, according to the Hungarian Consulate, an estimated number of 220 inquiries relating to Citizenship And Residency were received from Britons since June 23rd, which is a considerable raise from the fewer than 10 inquires received in the first half of the year. Meanwhile, the Bulgarian Embassy also noticed an escalation in citizenship inquiries by 30 times approximately. Second Secretary, Tsvetin Spasov, stated that under normal circumstances they don’t usually receive this many requests from UK citizens, and this trend came into being since the referendum was held.
Then there are other European countries that are coming across Brits who are seeking to obtain citizenship or residency based on ancestry links. Austria received more than double the applications for passports or identification cards in the month of July 2016, in comparison to the applications received in July 2015. Moreover, the weekly Citizenship Applications received by Swedish Embassy increased sevenfold at the time of June 23 vote – going up to an astonishing number of 150 requests in the week itself – before the surge alleviated over the summer. Even Poland’s Embassy witnessed a substantial rise in applications as they usually only receive an average of 100 applications for citizenship throughout the year, but this time they received 111 applications in just the first half of 2016.
It was stated by Meghan Benton, a senior policy analyst at the Migration Institute in Washington, that there is a possibility of receiving two kinds of applications; the first application being from people who are worried about their freedom of movement, which they often utilize. The second kind of application is filed by those people who possess a strong link to the EU, which they do not want give up. “They probably feel cheated, not wanting to lose their rights.”
For latest updates and news on global investment by citizenship programs, please feel free to visit our website Lalani & Associates.

US EB-5 Investor Program – Direct Investment vs. Syndicate/EB-5 fund

Immigration to USA has been on a rise through the very popular EB-5 Immigrant Investor Program which has a quota of granting 10,000 visas every year. First created in 1990, this program became more famous after the 2008 recession which was the period when traditional lending became tough and this program was considered as a more accessible form of financing as banks were reluctant to lend. The EB-5 Investor Visa Program allows foreign investors to attain a green card and citizenship, eventually, by investing a substantial sum of money either through the direct investment option or through a syndicate/EB-5 fund. While both these options lead to permanent residency, the EB-5 investor should be aware about the basic differences in both of these options.

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	Direct Investment Option	Syndicate/EB-5 fund Option
Investment Amount	US $1 million	US $500,000
Job Creation Requirement	Investors have direct responsibility of creating 10 jobs	The syndicate/fund has direct responsibility of creating 10 jobs
Management of the business	Investors have to look after the day-to-day management of the business.	Syndicate fund has direct control over the day-to-day management of the business.

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Direct Investment Option

Lets talk about the direct investment option first. It requires investors to invest a sum of US $1 million in a targeted employment area, a new venture or in a troubled enterprise. This option is best suited for all those investors who want to be directly involved in the day-to-day management of their businesses. Since they will be directly responsible for running their business, they have to make sure that it runs successfully to be granted citizenship by having adequate knowledge about business practices. The visa upon arrival will be conditional on the grounds that the investors will be required to generate 10 full time employments within 2 years. If the United States Citizenship and Immigration Services (USCIS) are satisfied at the time of verification of this requirement, the investors will be granted permanent residency, which means that they need to come up with some solid business plans that can live up to this job creation requirement.

Syndicated/EB-5 fund Option

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Under this investment option, the EB-5 investor will be required to invest US $500,000 with a syndicate/EB-5 fund in an approved regional center. This option is also known as the regional center investment option.  A Regional Center is a business entity that coordinates foreign EB-5 investment within an area in compliance with EB-5 statutory, regulatory, and precedent decision framework.  Even though this option will also lead to a conditional green card, the difference lies in the fact that investors opting for this option will attain the legal status of a limited partner and they won’t be directly responsible for managing the day-to-day operations of the business. Moreover, the investors will not have to bear the direct responsibility of creating 10 jobs as the syndicate/EB-5 fund will take care of that as well. A regional center investment is best suited for all those investors who would give preference to participating in the policy-making activities of the business, rather than having direct control over the day-to-day operations of the business.

Having explained both the investment options separately, it is important to highlight the fact that selecting either of them will lead to a green card for the investors and their families if they apply for Immigration To USA. As a green card holder, the investors will be considered lawful permanent residents of the United States, and they will be able to obtain citizenship after physically residing in United States for a period of 2.5 years out of a total 5 year period, without being absent from the country for 6 months or more at a time.

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For more information about the US EB-5 Program, please feel free to visit our website Lalani & Associates.

New Applications Accepted For Immigration To Canada Through The Provincial Nominee Programs

The opportunity for Immigration To Canada has been available since the opening of the Saskatchewan and Manitoba Provincial Nominee Programs (PNP). Over the past couple of weeks, these Canadian Provinces have been actively welcoming new applicants. Till now more than 2000 potential candidates have either submitted applications for one of these PNP Programs or have been invited to do so.

A total number of 714 candidates were issued a Letter of Advice to Apply (LAA) through the Manitoba Provincial Nominee Program (MPNP)on 24^th August, 2016, under the MPNP Expression of Interest (EOI) immigration system. These LAAs were issued to those candidates who had previously shown an interest in one of the above mentioned provinces for Canadian Immigration.

An additional number of 700 applications were received through the Occupation-Demand subcategory of the Saskatchewan Immigrant Nominee Program(SINP) which reopened only a few days later, on August 30^th. This subcategory is now closed as the intake cap of applications was reached immediately.

SINP International Skilled Worker: Occupations In-Demand

Through this subcategory, skilled workers with an in-demand occupation can start their applications for a SINP provincial nominee certificate which is followed by an application for Canadian permanent residency. It is important to note that applicants are not obliged to show a job offer in order to be eligible to initiate their applications.

The current occupations list contains 21 occupations across a range of industries, notably in engineering, trades, agriculture, health care, and IT. This SINP sub-category is a ‘base’ sub-category, meaning that it is not aligned with the federal Express Entry immigration selection system. This means that individuals who are not eligible for Express Entry (for example, because of language ability) may be eligible for this SINP sub-category.

MPNP for Skilled Workers

The MPNP issues LAAs through two subcategories of the skilled worker streams, the first being the skilled workers in Manitoba subcategory and the second being skilled workers overseas subcategory. On August 30^th, 176 LAAs were issued to applicants through the first subcategory, and a total number of 538 LAAs through the second subcategory. Under the MPNP’s EOI points system, the province selects candidates under a comprehensive ranking system. In the recent draw held on August 30^th, Skilled Workers in Manitoba candidates required 592 points (out of 1,000) in order to be issued an LAA, and Skilled Workers Overseas candidates required 543 points.

This program is designed to attract those skilled workers who are required as per the demands of the local labor market of the designated province so that they can be nominated to received permanent residence visas to be able to settle and work in the Canadian province of Manitoba. These immigration options open another route for those candidates particularly who weren’t able to Immigrate To Canada through the Express Entry system. The eligibility requirements for both these programs are rather different, for example the MPNP awards points for language proficiency equivalent to Canadian Language Benchmark (CLB) 4 to candidates in certain occupations, a much lower threshold than what is required under the Federal Skilled Worker Class.

Candidates applying through the Skilled Workers in Manitoba subcategory are accepted from foreign workers and international student graduates who are currently working in Manitoba and have been offered a permanent job by their employers. Skilled Workers in Manitoba are not subject to a point-based assessment to determine their eligibility.

Those candidates who are outside the premises of Canada but can still demonstrate a connection to the province can apply for Immigration To Canada through the Skilled Worker Overseas subcategory. Under this subcategory, a point-based system is used to assess the eligibility of candidates according to factors such as age, language proficiency, work experience, education and adaptability.

For more information on any of these PNP programs, please feel free to visit our website Lalani & Associates.

Portugal Golden Visa Program: Ideal for Foreign Investors seeking to invest through Real Estate

The Portugal Golden Visa program has been an ideal program for foreign investors looking for a fast track procedure to attain a fully valid Portugal Residency Permit. The program came into existence in October 2012 and was established by the Portuguese Authorities. Foreign investors opting for this program will be able to gain residency, as well as visa free travel to majority of European countries within the Schengen Zone. It was designed to specifically target high net worth individuals, paving them a path to citizenship in only 6 years.
The Golden Visa Program has been a hit so far, issuing a total of 3,165 Golden Visa permits till date.  Out of the 3,165 permits, 2,457 Chinese citizens have been the recipients of these permits. According to Portugal’s immigration service, during the period starting from January 2013 till March of this year, a further 4,841 permits have been issued under rulings for family reunification.

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The most promising investment prospect for the users of this program has been property. The breakdown of the 3,615 permit clearly highlights that a staggering number of 2,991 permits were issued on the basis of investment in property, whereas 169 permits were granted with regards to transfer of capital, and only 5 for the purpose of generating business activities which resulted in the creation of 10 or more new jobs.  The aggregate volume of investment being injected into the Portuguese economy is €1.92 billion, out of which €1.73 billion has been generated from investment in property.

Boom in Portuguese Real Estate Market

The disequilibrium occurring from high supply and low demand of construction has created a perfect situation for investment in the Portugal Real Estate industry. There has been a hike in the demand for real estate ever since the Portuguese government launched the Investment Benefits scheme in 2013, as well as due to the exponential growth of tourism in the country.

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The Golden Visa program has been one of the major determinants behind the real estate boom in Portugal. The foreign investments injected into the Portuguese real estate market are pretty secure because there has been no sign of a property bubble according to any existing data. Thus, the real estate sector should be considered as a pretty save investment.
Moreover, the boom of short-term rentals has brought new life to the more historical neighborhoods, where old properties are being reconstructed to rent out to tourists. These kinds of properties are the most suited for Golden Visa holders since they most probably will not invest to reside here. A completely refurbished historical area can produce an income of approximately 8 to 12% annually through a daily rental basis.

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All these factors are generating high yearly capital gains for the property investors and are encouraging foreign investors from around the world to consider the Hungary Golden Visa Program. As a result of the country’s demand and supply disequilibrium, especially in places such as Lisbon and Algarve, returns of up to 15% are being generated by main centers on real estate investments. The Portuguese real estate market is a safe haven for investors, providing a safe environment for their money. Furthermore, the current politically stable economy of Portugal also proves to be an encouraging factor for overseas investors.

About the Golden Visa

Currently, around 97% of applicants of the Golden Visa Program have opted for this program by making an investment in the Real Estate market of Portugal.By applying for a Golden Visa through the real estate investment option,investors acquire Golden Residence Permits by investing € 350,000 in the acquisition of real estate with construction completed at least 30 years ago or located in an urban rehabilitation area, with execution of rehabilitation work OR €500,000 in real estate in Portugal. Each investment must be held for atleast 6 years and cannot be financed by a third party such a bank.

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The Golden Residence Permit Program was specifically designed by the Portuguese government to attract foreign investment into the country by non EU citizens. This program is very simple and flexible, with straightforward and minimal requirements. Residency cards are delivered to investors if successful investments are made; it is as simple as that.
This program is amongst the most famous ones from around the world for a number of reasons. Firstly, successful applicants can obtain the Schengen Permanent Residence immediately, followed by citizenship after 6 years. Secondly, it also has a special regime for non-habitual residents, aimed at attracting foreign investors through very favorable income tax rates, such as the tax exemption program for foreign senior citizens. Thirdly, applicants will be free to travel, live, study and work anywhere in the Schengen Zone. Fourthly, this program also allows the principal applicant to extend the application to dependent family members, such as spouse, children and parents, without any additional investment requirements. Lastly, the period of physical residency required to maintain the permit is also very minimal, just 7 days in the first year and 14 days in the following two years.
For more information on the Portugal Golden Visa Residency Program, please feel free to visit our website Lalani & Associates.

US: Proposal for a new immigration rule specifically targeted for entrepreneurs

There has been a proposition for a new rule by the U.S Citizenship and Immigration Services (USCIS) which would grant a new immigration option, leading to a temporary entry for a period of up to 5 years, to foreign individuals seeking to build new companies in the United States.
This new rule was proposed on Friday, 26^th August’ 2016, by the Department of Homeland Security and is an effort by the Obama Administration to create a “start up” visa that would pave the way for Immigrant Entrepreneurs looking for ways to start businesses in the United States, without getting any action from Congress. Entrepreneurs from any industry can be eligible to apply for this program, though a special preference is given to applicants from the technology field as it has been Silicon Valley’s top priority to introduce an immigration route for start-up founders specifically.
This new rule will take advantage of the existing Immigration And Nationality Act, according to which the US government has the authority to grant individuals temporary entry into the country on a case-by-case basis for “urgent humanitarian reasons” or “significant public benefit”. The white house is arguing for the latter, saying that those entrepreneurs who are contributing to GDP by creating jobs in the United States are serving a significant public benefit.

Application Through Two Tiers Of Admission

There isn’t a predetermined cap restricting the number of people that can apply under this new proposed immigration rule, although there are significant requirements to meet the edibility criteria. Entrepreneurs will have the option to apply for two tiers of admission.
Through the first tier, applicants will gain entry into the country for two years. However, the government will reserve the right to reverse this decision whenever they want to. In order to meet the eligibility criteria under this proposed rule, the individuals must own at least 50% of the stock in their companies and should have risen at least $345,000 from US Investors with track record of US investments, or at least $100,000 from federal, state, or local government agencies.
The second tier will grant admission to businessmen for an additional period of 3 years. To qualify for this, they have to meet certain conditions, such as continuously running their businesses in the US, retaining at least 10% of ownership, either raise at least $500,000 from US investors, or generate $500,000 in annual revenue with 20% year-over-year growth, or show that they have created at least 10 full time jobs throughout the five-year period.
This proposal comes up at a time when a similar foreign Immigrant Investor Program, the US EB-5 program, is up for renewal in Congress at the end of September.
According to US immigration officials, this new program is not a replacement for the US EB-5 program, an entrepreneur immigration program for individuals who invest at least half a million dollars in a US business. Against this investment, they will receive conditional residency status, a chance to secure Immigration To USA , and an eventual path to US citizenship if their investment succeeds.
The public can express their opinions on this proposal during the 45-day comment period. At the end of this period, the U.S Citizenship and Immigration Services (UCIS) will address the comments.  The proposal will not take effect until after a final rule is published in the Federal Register.
For more news related to Immigration To USA, please feel free to visit our website Lalani & Associates.

Immigration To Canada

The federal government of Canada is contemplating to launch a new Immigrant Investor Program which will be specifically targeted to attract exorbitantly high net worth individuals, seeking for Immigration to Canada.
According to John McCallum, the Immigration minister of Canada, this new program would grant permanent residence status to applicants against a substantial investment amount. He further stated that if this program could actually aid in generating major jobs and investment in Canada then he would seriously consider initiating this fresh Investor program.
In 2014 the Canada Immigrant Investor Program (CIIP) was eliminated by the Harper government, disregarding the soaring number of 15,000 applicants, which were mainly Chinese.  The conservative government then reinstated the Immigrant Investor Venture capital Pilot Program which has been an ineffectual attempt to replace the previous one and has failed to generate a lot of applicantions as a result of improbable terms and conditions.

The implied provisions of the new Federal Investor Immigration Program

• A possible investment requirement between the ranges of CAD $1.5 million to $2 million which is a very competitive investment in comparison to similar investor programs.
• There is no minimum net worth requirement which makes this program more appealing and easier to apply for the investor. This is consistent with the industry.
• The asset classes are to be chosen by the investor, being consistent with the industry.
• This investment is exclusive of any residential real estate, and hence averts concerns of real estate bubbles in famous geographical regions.
• Requirement for strict due diligence and compliance which will be executed by expert third parties.
• A stipulation of $20,000 as processing fees, plus supplementary fees for accompanying dependants.

This program, if implemented, will play a crucial role in boosting immigration to Canada because other investor programs around the world, including the very popular US EB-5 program, have greatly helped in flourishing the economies of their relevant countries by attracting investment worth billions of dollars, leading to a full transformation of some of the major American cities in downtown areas.
Canada, on the other hand, has suffered as a result of missing out on these investment dollars since the shutting down of the CIIP. The commencement of this program with carefully studied conditions, will inject the much-needed cash flow into this country. It would also eradicate the controversy over the successful Quebec Immigrant Investor Program (QIIP), which has admitted a record number of 5,000 applicants in the year 2015 and grants Canadian permanent residency status in return of an investment of $800,000 for a five-year period.

Eligibility requirements for QIIP:

A personal net worth of $1.6 million which should be obtained legally.

• Two years of suitable management or business experience within the five years preceding the application.
• An investment of $800,000 for a period of five years bearing no interest. Money invested is returned at the end of the period.
• The intention to permanently settle in the province of Quebec

There have been a lot of queries regarding the prices of houses in Vancouver and Toronto, which are two of the biggest cities chosen by applicants to settle into once they obtain Canadian visa through immigration to Quebec. Moreover, some questions have been raised about the benefits of these investments only being enjoyed by Quebec city, whereas the other provinces have to work around these rich individuals residing in their cities. Thus, all of these concerns will be sorted out if the Liberal government takes the decision to introduce this new federal immigrant investor program.
For more information on latest news related to Canadian Immigration, please feel free to visit  Lalani & Associates for a free assessment OR you can contact us on our numbers (92-21) 3438 9311-4 , +923008424923