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Category Archives: Updates

May 14, 2025
May 14, 2025

St. Lucia Tightens CBI Program: Quotas and Net Worth Requirements Returning

Author By globalia Categories Uncategorized

St. Lucia plans to reinstate annual quotas and introduce net worth requirements for its Citizenship by Investment (CIP) program to enhance its exclusivity. Deputy Prime Minister Hilaire announced the government will amend legislation to bring back these original features from 2015.

Key Proposed Changes:

  • Annual Quotas: Limiting the number of citizenships issued yearly.
  • Net Worth Requirements: Applicants will need to demonstrate a certain level of personal wealth.
  • Escrow Accounts: Likely to be reintroduced for investment fund security.

These changes follow a recent pricing structure agreement with OECS nations and the suspension of the Enterprise, National Infrastructure, and BMX LLC housing options. The real estate option continues.

An audit of the CIP is underway, with a final report expected in October 2024. The program operates under a regional framework established in October 2024, including plans for a regional regulatory body.

Implications for Investors:

  • Potential for higher costs and limited availability.
  • Focus on wealthier applicants.
  • Timing of application may be crucial.

Strategic Considerations:

Global mobility specialists should inform clients about these upcoming changes in St. Lucia’s CIP, emphasizing the trend towards stricter regulation in the Caribbean CBI landscape. Monitoring legislative developments is essential for effective client advice.

May 6, 2025
May 6, 2025

Non-EU Property Dreams in Spain on Hold? Understanding the Proposed Tax Hike

Author By globalia Categories Uncategorized

Spain has proposed a significant increase in property taxes for non-EU buyers, potentially doubling the existing property transfer tax (ITP) or VAT plus stamp duty (AJD). This proposal, announced by Prime Minister Sánchez to address housing affordability, aims to discourage speculative buying by non-EU residents.   

Currently, Spanish property transfer tax for resale properties ranges from 6% to 10%, while new builds incur 10% VAT plus 0.5% to 1.5% stamp duty, varying by region. The proposed change would effectively double these rates for non-EU purchasers.   

 

Key Implications for Investors:

Not yet law: The proposal requires parliamentary approval.

Reduced attractiveness: Higher taxes could deter non-EU investment in Spanish property.

Economic impact: A decline in foreign buying could negatively affect local economies.

Residency by Investment: Increased costs may impact the viability of property-based residency routes. The abolition of the Golden Visa in April 2025 further complicates this.   

Regional differences: The application of the tax hike across Spain’s autonomous communities is unclear. 

  

Strategic Implications for Global Mobility:

This potential tax change necessitates a reassessment of investment strategies for non-EU clients interested in Spain. Exploring alternative European options or different asset classes may become more pertinent.

 

In conclusion, Spain’s proposed property tax increase for non-EU buyers, while not yet enacted, could significantly alter the landscape of international property investment and residency options in the country. Careful monitoring of legislative developments is crucial for investors and global mobility specialists.

May 1, 2025
May 1, 2025

St. Kitts Acts Against CBI Abuse: 13 Citizenships Revoked, 2 Agents Blacklisted

Author By globalia Categories Uncategorized

St. Kitts and Nevis has revoked the citizenship of 13 individuals and blacklisted two marketing agents (Latitude Consultancy and RIF Trust) following an investigation into its Citizenship by Investment (CBI) program.

The probe revealed that the 13 individuals failed to pay the minimum required investment, despite declarations in their applications. Another 32 rectified their payments. The blacklisted agents were found to be marketing the CBI program below the legal investment threshold.

As a result, Latitude Consultancy and RIF Trust are permanently barred from CBI activities related to St. Kitts and Nevis.

Additionally, the government terminated its investment agreement with MSR Media SKN Ltd and MSR Hotels & Co. Ltd due to contractual breaches and alleged attempts to discredit the CBI program.

These actions demonstrate St. Kitts and Nevis’s commitment to zero tolerance for CBI program abuse and aim to protect its integrity.

 

Key Takeaways:

  1. Compliance is essential for CBI investors.
  2. Accurate applications are mandatory.
  3. Work with authorized, reputable agents.
  4. Be cautious of below-market offers.
  5. Strategic Implications:

 

This emphasizes the growing focus on compliance within global CBI programs. Investors must conduct thorough due diligence. St. Kitts and Nevis’s firm stance underscores the importance of program integrity for long-term sustainability.

 

April 28, 2025
April 28, 2025

Mark Your Calendars: Globevisa Global Citizen Conference 2025 – Singapore, Where East and West Connect!

Author By marketing Categories Uncategorized

We’re thrilled to announce the Globevisa Global Citizen Conference 2025, a premier event for anyone interested in global mobility, investment migration, and international residency! This year, we’re heading to the vibrant and dynamic city of Singapore, a true melting pot of cultures and a global hub for business and innovation.

Join Us in Singapore: October 22-24, 2025

From October 22nd to 24th, 2025, the luxurious Equarius Hotel at Resorts World Sentosa will be the epicenter of insightful discussions, valuable networking, and exclusive insights into the future of global citizenship. Under the theme “Singapore, Where East and West Connect,” we’ll delve into the unique position Singapore holds as a bridge between diverse cultures and a beacon for international opportunities.

Why Attend?

This conference isn’t just another industry gathering; it’s an opportunity to:

  • Gain Exclusive Insights: Hear from industry leaders and experts on the latest trends and developments in global mobility and investment migration.
  • Network with Professionals: Connect with fellow professionals, investors, and global citizens from around the world.
  • Explore International Residency Programs: Discover new and exciting opportunities for international residency and citizenship.
  • Experience Singapore’s Unique Atmosphere: Immerse yourself in the dynamic and cosmopolitan atmosphere of Singapore, a city that truly embodies the spirit of global connectivity.
  • Learn from the best: Globevisa has gathered experts from all over the world to share their knowledge.

“Singapore, Where East and West Connect” – A Theme That Resonates

Singapore’s strategic location, pro-business environment, and multicultural society make it the perfect setting for this year’s conference. We’ll explore how Singapore facilitates connections between East and West, fostering innovation and creating opportunities for global citizens.

Event Details at a Glance:

  • Location: Equarius Hotel, Resorts World Sentosa, Singapore
  • Dates: October 22-24, 2025
  • Theme: Singapore, Where East and West Connect

Stay Tuned for More Information!

We’ll be releasing more details about the conference agenda, speakers, and registration process in the coming months. Be sure to follow us on our website and social media channels to stay up-to-date.

April 25, 2025
April 25, 2025

Court order sought by Chastanet to stop Galaxy CIP applications in St. Lucia

Author By marketing Categories Uncategorized

Former Prime Minister and current Opposition Leader Allen Chastanet has filed an urgent interlocutory injunction in the Eastern Caribbean Supreme Court to halt portions of St. Lucia’s Citizenship by Investment Program (CIP). The legal action focuses on a contentious agreement between the CIP Board and Caribbean Galaxy Real Estate Limited, which Chastanet claims authorizes the approval of numerous citizenship applications at a significantly reduced rate.

Chastanet’s Concerns:

Chastanet’s legal filing raises significant concerns regarding the agreement with Caribbean Galaxy, including:

  • Unauthorized Discount: Allegations suggest the agreement permits citizenship applications at a discounted rate of $65,000, substantially below the legally required minimum of $200,000.
  • Lack of Transparency: Chastanet asserts a lack of transparency surrounding the agreement’s terms, including the number of approved applications and generated revenue.
  • Potential for Abuse: The discounted rate poses a risk of incentivizing corruption and jeopardizing the CIP program’s integrity.

Impact on the CIP Program:

The court’s decision on Chastanet’s injunction could significantly impact the CIP program. As a vital revenue source for St. Lucia, any halt to applications could lead to adverse economic repercussions.

Conclusion:

This case highlights the vital need for transparency in CIP programs. Applicants must verify all costs with official sources and avoid discounted, unofficial offers to protect themselves and the program’s integrity.

 

April 20, 2025
April 20, 2025

Vanuatu to Cancel Lalit Modi’s Passport Over Extradition Concerns

Author By marketing Categories Uncategorized

The government of Vanuatu has announced that it will be canceling the passport of Lalit Modi, the former Indian Premier League (IPL) chairman who is wanted by Indian authorities on charges of corruption and money laundering. The decision comes after Vanuatu received an extradition request from India.

Modi has been living in Vanuatu since 2010, after he was accused of financial irregularities in the IPL. He has denied all charges against him.

The Vanuatu government has not yet released a statement on the matter. However, a source close to the government said that the decision to cancel Modi’s passport was made after “careful consideration” of India’s extradition request.

It is unclear when Modi’s passport will be canceled. However, once it is, he will no longer be able to travel to Vanuatu or any other country that has a visa-free agreement with Vanuatu.

Modi is likely to appeal the decision to cancel his passport. If he is successful, he will be able to continue to live in Vanuatu. However, if his appeal is rejected, he will be forced to leave the country.

The move by Vanuatu is a significant development in the case against Modi. It is also a sign that the country is taking India’s extradition request seriously.

 

April 14, 2025
April 14, 2025

Unlock Italian Residency with the 15% Flat Tax Regime

Author By marketing Categories Uncategorized

Italy’s flat tax regime is more than just a tax break; it’s a strategic pathway to establishing residency and enjoying the Italian lifestyle. Designed to attract high-net-worth individuals and foreign investors, this program offers a unique opportunity to live in Italy while benefiting from a simplified tax structure.

Residency and Tax Advantages:

The core of the regime lies in its 15% flat tax on income generated outside of Italy, covering business activities, employment, and capital gains. To qualify, applicants must demonstrate a minimum annual income of €100,000 and have been non-residents of Italy for at least nine of the past ten years. This regime facilitates a smoother transition to Italian residency by offering:

  • Simplified Taxation: A single, predictable tax rate on foreign income, easing financial planning.
  • Enhanced Financial Security: No wealth or inheritance taxes, preserving your assets for future generations.
  • Business Growth Opportunities: The ability to deduct business expenses, fostering entrepreneurial endeavors.

The Residency Process: Pre-Approval is Key

Securing residency through this regime requires a proactive approach. Pre-approval from the Italian Revenue Agency (Agenzia delle Entrate) is mandatory. This involves compiling comprehensive documentation, including past tax returns and a detailed business plan, to demonstrate your eligibility and commitment to establishing residency.

Navigating the Process: Expert Guidance

The complexities of the pre-approval process highlight the importance of consulting with a qualified tax advisor. They can provide invaluable assistance in gathering the necessary documents, ensuring compliance, and navigating the application process, maximizing your chances of a successful residency application.

Embrace the Italian Lifestyle:

Beyond the financial benefits, the flat tax regime opens doors to the unparalleled lifestyle Italy offers. From its rich cultural heritage and world-renowned cuisine to its stunning landscapes and vibrant cities, Italy provides a unique and fulfilling living experience. This regime allows individuals to integrate into Italian society while maintaining a favorable tax structure.

Conclusion:

Italy’s flat tax regime is a powerful tool for those seeking to establish residency and enjoy the benefits of living in Italy. While the pre-approval process demands careful attention and professional guidance, the rewards, including simplified taxation, enhanced financial security, and the opportunity to immerse yourself in the Italian lifestyle, make it a compelling option for discerning individuals.

April 10, 2025
April 10, 2025

Nauru Citizenship by Investment: A Gateway to Global Mobility

Author By marketing Categories Uncategorized

The Nauru Citizenship by Investment (CBI) program offers a unique and streamlined pathway for foreign investors to obtain citizenship in the Republic of Nauru. Designed to attract global talent and investment, the program provides a range of benefits that extend far beyond the shores of this Pacific island nation.

Investment Options:

The Nauru CBI program offers a straightforward investment structure, typically involving a significant contribution to the Nauru government’s development fund. This contribution directly supports the nation’s economic and social progress. (Specific investment amounts are subject to change and should be verified with authorized agents.)

Key Advantages of Nauru Citizenship:

  • Global Mobility: Nauru citizenship grants you a passport that enhances your travel freedom. While not as extensive as some European programs, it still provides access to a selection of countries, facilitating international business and leisure travel.
  • Simplified Application Process: Nauru’s CBI program is known for its relatively quick and efficient application process, offering a faster route to citizenship compared to some other programs.
  • Confidentiality: The Nauru government prioritizes the confidentiality of its CBI applicants, ensuring a discreet and secure process.
  • Family Inclusion: The program often allows for the inclusion of eligible family members, enabling you to secure a future for your loved ones.
  • Tax Benefits: Nauru offers a favorable tax environment, which can be advantageous for international investors.
  • Strategic Diversification: Obtaining a second citizenship in Nauru can serve as a valuable tool for diversifying your assets and enhancing your personal security.

Conclusion:

For those prioritizing efficiency, confidentiality, and strategic diversification in a second citizenship, Nauru’s CBI program is a compelling option. Its streamlined process and unique benefits offer a valuable path to enhanced global mobility and personal security.

April 1, 2025
April 1, 2025

Grenada Cracks Down on CBI Discounting, Rejects Applications and Revokes Citizenship

Author By marketing Categories Uncategorized

Grenada has taken a firm stance against illegal discounting within its Citizenship by Investment (CBI) program, rejecting eight applications and initiating the revocation of one citizenship. The Investment Migration Agency (IMA) uncovered evidence of unauthorized financing, including loans offered by developers, which directly violated the program’s mandated investment thresholds.   

 

The government’s response has been swift and decisive, signaling a zero-tolerance approach. In addition to application rejections and citizenship revocation, the IMA is intensifying its monitoring efforts, leveraging advanced technology and on-the-ground intelligence. International due diligence providers have been alerted to scrutinize applications from implicated agents, and the CBI Committee has demanded the termination of relationships with offending sub-agents. Furthermore, projects involved in illegal financing schemes face decertification.   

 

These actions underscore Grenada’s commitment to safeguarding the credibility and sustainability of its CBI program. By enforcing strict adherence to regulations, the government aims to ensure fairness, transparency, and protect the economic benefits derived from the program. This serves as a crucial reminder to prospective applicants that compliance with established investment requirements is paramount. Engaging with reputable and authorized agents is essential for a smooth and compliant application process. Grenada’s decisive measures reinforce the importance of maintaining integrity within citizenship by investment programs for their long-term success.

 

March 24, 2025
March 24, 2025

St. Kitts and Nevis CIP Addresses Investment Discrepancies

Author By marketing Categories Updates, Updates, Updates, Updates, Updates, Updates, Updates, Updates, Updates, Updates

The St. Kitts and Nevis Citizenship by Investment Program (CIP) has reportedly issued letters to some investors regarding discrepancies in their initial investment amounts. These letters request investors to remit the outstanding balance to meet the required investment threshold, failing which their citizenship may be revoked.

This action by the St. Kitts and Nevis government highlights the importance of adhering to the CIP’s stipulated investment requirements. The program has clear guidelines regarding the minimum investment amounts for each available option. Investors are expected to comply fully with these requirements to secure and maintain their citizenship status.

The letters serve as a reminder of the due diligence conducted by the St. Kitts and Nevis authorities. The government is committed to ensuring the integrity of its CIP and maintaining the trust of international investors. This action underscores the importance of transparency and accuracy in all investment-related transactions.

Globalia Consulting partner of Globevisa Group, advises all potential investors in CIPs to thoroughly review the program guidelines and ensure full compliance with all requirements. We emphasize the importance of working with reputable and experienced agents to navigate the complexities of investment migration processes. Our team provides expert guidance to clients, ensuring they understand the investment requirements and comply with all applicable regulations. We recommend that individuals who have received such letters from St. Kitts and Nevis authorities seek immediate professional advice to address the matter promptly and appropriately.

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