CS Global Partners highlights significant aspects of CBI programme

Associated Times hosted a webinar on Citizenship by Investment Programmes with CS Global Partners-a UK-based Government Citizenship advisory firm. They hosted this Webinar on Sunday (6 March 2022) afternoon at 2 pm (EST). In this Webinar, their main focus was on the new trends in the CBI Programmes, due diligence, the application process, and other significant aspects of economic citizenship.

They invited the special guests named Micha-Rose Emmett- CEO and Founder of CS Global Partners, and Paul Singh- Director of CS Global Partners, in the Webinar.

Micha and Paul discussed the modifications they experienced in the Citizenship by Investment industry over the past ten years. They also answered the questions about the difference between Residence by Investment and Citizenship by Investment and the benefits of both choices.

With the help of Citizenship by Investment Programmes, many people took advantage and became global citizens. Many countries, globally, including big or small countries, are now launching new programmes in order to generate a high amount of Foreign Direct Investment.

Anybody can take information about the Citizenship by Investment Programme, its features and changing trends through the Webinar. The special guests also discussed the importance of the programme for host countries and the benefits to applicants.

The virtual event will also discuss various steps to apply for the Citizenship by Investment programme.

The session included different aspects like applying for CBI Programme, due-diligence checking procedure, primary beneficiaries, and investment options.

The guests also mentioned the CBI Programs offered by several countries, including the Commonwealth of Dominica, St. Kitts and Nevis, which they described as the world’s oldest and longest-running.

The Webinar host asked about certain trends the company experienced and what has kept Citizenship by Investment highly desired, of which Micha 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 different regions and understanding more and more the importance of holding second citizenship.

The interviewer asked Paul to describe the process for applying to the CBI programme and how the application is screened and vetted?

Paul Singh stated that Citizenship by Investment is the most straightforward, clear-cut and most seamless process to gain citizenship application, and it’s usually three months that suits time-poor business people who are very busy.

The Caribbean CBI jurisdictions such as St Kitts and Nevis, Dominica have an excellent processing timeline and are actually very efficient. So from the moment of submission to approval in principle is generally their month, and we’ve worked with the governments to ensure the process of an economic citizen is as smooth as possible, underscored the Director of CS Global Partners.

Mr Paul further added, Nonetheless, despite the swiftness of processing, it doesn’t undermine the programme’s integrity. It’s an extensive due diligence process, and all five Caribbean jurisdictions have got 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.

Outlining the various steps involved in the CBI jurisdictions, Paul Singh mentioned that from the 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, he added.

While highlighting the type of investments that are available to applicants, Mica Emmett stated that, generally, the Citizenship by Investment programmes tend to have two options. This non-refundable contribution goes to the government or alternatively an investment in an approved project.

She further explained that most 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 and a donation investment.

Paul Singh further explained the suitable investment option for the investors and said that different types of investors are interested in different investment options, and so you can say that the government fund contribution is a more straightforward route. It can tend to be even an efficient route, whereas real estate has it is more complex 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 nation route is the most efficient and straightforward.

During the Webinar, Mr Paul also tried to highlight which CBI programmes are suitable for applicants who tend to look at the longevity of the programme, how well established the programme is with St Kitts, for instance, being the cradle of citizenship, and the programme was launched in 1984 so of course almost four decades.

Whereas Dominica launched it in 1993, almost three decades, so they have run for a long time they’re in held in very high regard by the international community, then a lot of people who have gained citizenship from these particular islands had that tool for many years and its worked for them, and they’ve family additions over time, they’ve had added to the programme as well.

At this, Micha Emmett stated that the beauty about citizenship by investment programme is it really a win-win solution in that the investor who’s coming along and making the investment into the country and obtaining the second citizenship.

She further reiterated that 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’ve seen some amazing things happen through the government with the revenue that’s been raised by CBI. In fact, particularly in a country like Dominica, it was almost saved by CBI funds when Hurricane Maria hit in 2017 and in terms of the real estate or the investment through the real estate option, added Micha.

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, and 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.