Turkish Central Bank Phases Out Currency Protection Scheme for CIP Bank Deposits
Turkey has ended the FX currency protection scheme that guarantees CIP deposits. “It was literally a free passport,” says Ahmet Sener.
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Policy Updates
Spain Closes Golden Visa, Sets Transitional Period
After months of internal deliberation and legislative maneuvering, the Spanish government has finally ended the golden visa
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Cyprus Announces New Startup Visa Changes, Slashes Share Capital Requirement
Cyprus has unveiled major improvements to its startup visa program, making it considerably more attractive to foreign entrepreneurs
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Hungary Eliminates Real Estate Investment Option From Guest Investor Program
Hungary takes direct real estate option off menu days before slated opening. Move likely aims to safeguard program integrity and reputation, say experts.
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Spanish Congress Overrides Senate Veto, Ending Golden Visa Program
Spain’s Golden Visa program will officially end following Congress’ final vote. Soler-Matutes expects complete closure by March 2025.
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Sierra Leone Launches Gold-Backed Life-Time Residency Program
Program opens for applications on Dec 7. Lifetime residency, 40-day approval. Agents earn $12K per approved client.
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Malta Raises MPRP Investment Thresholds and Fees
Malta’s MPRP will roll out higher thresholds for real estate, rent, administration and dependent fees, and donations on Jan 1st, 2025
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Sarawak Raises MM2H Investment Threshold to RM500,000 Amid Program Overhaul
Sarawak changes S-MM2H deposit threshold, income rules, new fees, and agent licensing criteria from January 1, 2025.
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Hungarian Government Approves First GIP Fund, Four More to Follow in 2025
Ten months after launching its Guest Investor Program, Hungary licenses its first qualified investment fund, with four more awaiting approval.
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St Kitts & Nevis Lowers Real Estate Investment Thresholds Amid Other Changes
Facing 60% revenue free-fall, St Kitts launches aggressive CIP rescue plan: lower real estate investments and expanded dependent rules.
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Canada to Reduce Permanent Residency Target by 25% Through 2027
Amid mounting public pressure and housing concerns, Canada revamps its immigration strategy, including reduced Startup Visa quotas.
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Panama Scraps Planned Increase for Real Estate Investment Visa
“Significant impact” convinces Panama to abandon its planned investment visa price hike, maintaining the $300,000 threshold indefinitely.
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Hong Kong Reintroduces Real Estate Component to CIES
Hong Kong reopens door to property investors seeking residency through the CIES – for a premium.
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Russia Unveils Eligible Nations for Shared Values Visa
Russia’s new Shared Values Visa targets 47 nations. Ilja Belobragin sees it as a workforce strategy, doesn’t expect list to expand soon.
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Thailand Opens Elite Visa Program to All Nationalities but One
“Recent data showed no adverse effect from restricted countries,” Bastien Trelcat notes as Thailand Elite Visa lifts ban on 28 nationalities.
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“These Efforts Will Fail”: USCIS Lowers Thresholds for IER Startup Program to Attract Foreign Entrepreneurs
Entrepreneurs can now qualify by securing investments worth $264,147, but immigration lawyer Matthew Galati thinks uptake will remain sluggish.
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Italy Doubles Flat Tax for Wealthy Foreigners to €200,000
Madalena Monteiro believes the regime remains attractive, and David Lesperance says the new sum positions Italy more naturally in the market.
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Vanuatu Mandates In-Person Visits for Passport Applications
Experts believe Vanuatu’s new passport enrolment process will bolster the integrity of its citizenship programs and address EU concerns.
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Antigua & Barbuda CIP Announces New Prices and Dependent-Definitions
The new prices are lower than the ones the CIU previously proposed in June, and the memo outlines new criteria for dependent children.
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Major Overhaul: St Kitts and Nevis CIU Becomes a Statutory Corporation
The newly established Board of Governors will modernize St. Kitts’ CBI Unit, develop policies, and ensure projects are financially sound.
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