In 2018, the global immigration landscape experienced ups and downs, with a series of major events having far-reaching impacts. The Moldova Citizenship by Investment program began accepting immigration applications, becoming the first citizenship by investment program in a continental European country; Greece's property-based immigration was exceptionally popular, becoming one of the hottest immigration programs of 2018; identity planning became an important consideration for asset allocation, and citizenship by investment programs were highly sought after; the Cyprus investment program continued to tighten... With the strengthening trend of asset allocation, the needs of immigration applicants are becoming increasingly diversified, and investors are paying closer attention to changes in immigration policies across various countries. Below is the original text of the "Top 10 Immigration Events of 2018" authoritatively released by Worldway Group. Let us review once again the "Top 10 Immigration Events of 2018" that have received widespread attention from both the industry and investors.
1、Moldova Citizenship by Investment program begins accepting immigration applications, becoming the first citizenship by investment program in a continental European country
On November 5, 2018, at the "12th Global Residence and Citizenship Conference" held in Dubai, Mr. Vitalie Iurcu, State Secretary of the Ministry of Economy and Infrastructure of Moldova, solemnly announced: Starting from November 2018, the Moldovan government officially accepts citizenship by investment applications from qualified foreign investors. This became the first fast-track passport program from a continental European country, allowing the whole family of three generations to quickly obtain a passport from a continental European country starting from only 100,000 Euros, with fast approval speeds. This Moldova Citizenship by Investment program, hailed as "Caribbean island nation price, continental European citizenship," became an instant hit upon its release, sparking market enthusiasm and becoming a new hotspot for investment immigration in 2018.
2、Greece's property-based immigration is exceptionally popular, becoming one of the hottest immigration programs of 2018
In 2018, with the steady recovery of the European economy and the official resolution of the 8-year Greek debt crisis, Greece's tourism and real estate markets showed "explosive" growth. The Greek property-based immigration program, starting from 250,000 Euros, swept through the immigration world with unstoppable momentum. Purchasing Greek property not only allows for permanent ownership that can be passed down through generations and enjoyment of property appreciation dividends, but also enables the whole family of three generations to quickly obtain Greek permanent residency. These multiple advantages have made the Greek property-based immigration program highly sought after by investors, making it one of the hottest immigration programs of 2018.
3、Identity planning becomes an important consideration for asset allocation, and citizenship by investment programs are highly sought after
In recent years, Chinese investors have gradually moved overseas. Driven by the internationalization of asset allocation, identity planning became an important consideration for asset allocation in 2018—asset allocation, identity first. At the same time, with the continuous relaxation of policies for citizenship by investment programs in many countries, and influenced by the launch of high-cost-performance citizenship by investment programs by some countries, citizenship by investment programs suitable for high-net-worth individuals for identity planning have become highly popular.
For example, the Antigua National Development Fund donation program's major discount was extended by one year to October 31, 2019; the Grenada amendment is about to significantly relax application requirements; Saint Lucia has accelerated approvals, with clients getting approved in just over a month. Meanwhile, citizenship by investment programs have begun to spread from Commonwealth island nations to continental European countries, such as Moldova launching a citizenship by investment program starting from only 100,000 Euros; Montenegro launching a citizenship by investment program starting from 550,000/350,000 Euros; and Turkey adjusting its citizenship by investment policy, with the investment amount slashed by 75%, allowing for Turkish citizenship with a real estate purchase as low as 250,000 USD.
4、Cyprus investment program continues to tighten, limited to 700 people per year
On May 21, 2018, the Cyprus government announced that it would officially rename the Cyprus Special Naturalization Scheme to the Cyprus Investment Program, and simultaneously amended relevant laws. Starting from 2018, the Cyprus Immigration Bureau will cap the number of investment applications at 700; the processing time for submitted applications will be extended to 6 months; each application will require due diligence; and applicants purchasing real estate must hold the investment for three years from the date of issuance of the planning permit, etc. This means that the threshold for the high-value Cyprus Investment Program, which has a continuously increasing number of applicants, is constantly being raised.
5、Canada immigration policy adjustments intensify
In 2018, Canada announced and implemented several new immigration policies, which were highly volatile. The Prince Edward Island entrepreneur immigration policy was adjusted twice in one year; it reopened in February with the addition of an EOI screening model, still providing a one-step path, but after being suspended in September, it reopened as a work permit model; the Manitoba entrepreneur immigration program announced its reopening in May after being closed for half a year, but since the EOI online system was not yet perfected, applications were temporarily processed according to the transition period process; the New Brunswick entrepreneur immigration program suspended EOI applications in October due to a surge in applicants; the Quebec Immigrant Investor Program reopened in September, with significantly increased requirements for applicants' assets and investment amounts. In addition, the Canadian federal government announced its immigration quota plan for the next three years (2019-2021), under which Canada will accept over one million new immigrants.
6、Australia immigration policy continues to tighten
2018 was a year of continuous tightening of Australian immigration policies. The EOI submission threshold for Australian skilled migration was raised from 60 to 65 points, affecting all independent skilled migration visa applicants; the 457 employer-sponsored work visa was abolished and replaced by the 482 Temporary Skill Shortage visa, which removed the IELTS exemption for applicants transitioning to employer-sponsored permanent residency, increasing the difficulty of transitioning to PR; New South Wales suspended all business immigration applications, etc. This means that another traditional major immigration country has begun to comprehensively tighten its immigration policies.
7、EU countries strengthen anti-money laundering measures, immigration scrutiny becomes stricter
In 2018, there were signs of stricter scrutiny in EU countries, including stricter bank account opening, stricter auditing of immigration funds, stricter background checks on investors and their families, and the Greek government halting credit card payments for investment immigration, etc. All these signs indicate that EU countries are gradually strengthening anti-money laundering measures. This has prompted various immigration agencies to set higher requirements for their own professional standards, service quality, and client screening. At the same time, these measures are also welcomed by various EU countries, which is conducive to the stability of the overall market and the healthy development of the industry.
8、Mainland China EB-category visa applications have almost entered the era of comprehensive backlogs
In 2018, all types of Employment-Based (EB) immigration applications from applicants in mainland China experienced varying degrees of visa backlogs.
For the EB-1 immigration category, which has extremely high requirements for applicants, including EB-1A (Extraordinary Ability) and EB-1C (Multinational Manager or Executive), due to the increase in application volume in recent years, visas for applicants from mainland China have experienced backlogs for several consecutive months in 2018; even in October 2018, the first month of the 2019 fiscal year, the EB-1 category visa backlog did not disappear, and it continued in November and December. This means that the visa backlog for EB-1 immigration applications for mainland Chinese applicants has become normalized. Except for the EB-4 immigration category, which is mainly for religious workers and has not yet shown signs of normalization, EB-category visa applications from mainland China have almost entered the era of comprehensive backlogs. Visa backlogs have become the primary concern for EB-category immigration applicants in mainland China.
9、National Immigration Administration announces the cancellation of qualification recognition for private exit-entry intermediary agencies
On October 23, 2018, the National Immigration Administration, established earlier this year, issued the "Notice on Canceling Matters Related to the Qualification Recognition of Private Exit-Entry Intermediary Agencies": In order to implement the "separation of permits and business licenses" reform nationwide, starting from November 10, 2018, the qualification recognition for private exit-entry intermediary agencies (excluding overseas employment) is canceled. Public security exit-entry management departments in various regions will no longer accept applications for qualification recognition of private exit-entry intermediary agencies (excluding overseas employment) and will stop approving and issuing "Business Licenses for Private Exit-Entry Intermediary Agencies." This puts forward higher requirements for the self-discipline of China's immigration industry, and at the same time, investors are more cautious when choosing immigration agencies.
10、Chinese immigration company successfully hosts the first large-scale China-Europe forum organized by a non-governmental organization
On September 8, 2018, the 2018 China-Europe Trade and Investment Forum, the first large-scale China-Europe forum organized by a non-governmental organization and hosted by a Chinese immigration agency, was successfully held. This forum received strong support from relevant government agencies in China and the EU, with ambassadors, ministers, counselors, and other officials from 18 European countries' embassies in China attending. It was a grand event with a thousand attendees, attracting global attention. At the meeting, relevant experts put forward the view that "immigration investment has become an important way for Chinese personal capital to enter Europe and is also an important force in promoting the development of China-Europe trade," which resonated strongly and gained recognition from many people.
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