2019 was a year of significant change in the immigration industry. Looking back, many countries worldwide experienced continuous changes in immigration policies, with numerous emerging immigration projects rising rapidly and gaining prominence in the immigration sector. Over the course of the year, Worldview Group conducted in-depth research and analysis, while consulting with professionals from the immigration field in various countries and some investors, and has now selected the 'Top Ten Immigration Events of 2019' to share with investors and the industry at large.
1. Increase in EB-5 Investment Amount, Marking the End of the 'USD 500,000 Immigration to the U.S.' Era
The 'wolf of price increase' in EB-5 investment immigration has truly arrived. The regulatory reforms by the United States Citizenship and Immigration Services officially took effect on November 21, 2019: the investment amount for projects in Target Employment Areas increased from USD 500,000 to USD 900,000; the investment amount for non-TEA projects rose from USD 1 million to USD 1.8 million, with amounts adjusted automatically based on inflation every five years. This marks the end of an era that began in 1990, lasting 29 years, where immigration to the U.S. was available at USD 500,000 for TEA areas and USD 1 million for non-TEA areas.
2. Turkish Investment Citizenship Project Rapidly Gains Momentum, Becoming One of the Top European Immigration Projects Alongside Greece
Since the Turkish government announced a reduction in the investment threshold for the Turkish Investment Citizenship Project, lowering the amount required for real estate investment from USD 1 million to USD 250,000, the project has rapidly gained attention in the immigration sector, sparking unprecedented discussion. In April 2019, the 'Official Launch Ceremony of the Turkish Investment Citizenship Project and Launch Event in China' took place in China, marking the official arrival of the project in China! Subsequently, the Turkish Investment Citizenship Project quickly swept through the immigration industry, becoming on par with the Greek property investment immigration project as two major European immigration hotspots, and was among the popular choices for identity planning by investors in 2019, attracting significant market interest!
3. Montenegro Investment Citizenship Program Launched, Igniting the Immigration Sector
After much anticipation, the Montenegro government finally opened the investment citizenship program to global investors in 2019, following a year of enhancements since its initial announcement. The Montenegro Investment Citizenship Program is valid for three years, expiring on December 31, 2021, and limits applications to 2,000 slots. In November 2019, the 'Official Launch Ceremony of the Montenegro Investment Citizenship Project and Launch Event in China' took place in China, causing a stir in the immigration industry. As a candidate country ranked high for EU membership, Montenegro may join the EU before 2025, and its investment assets are required to be in euros, leading the immigration industry to regard the investment citizenship program as a 'high-potential' and 'high-growth' opportunity.
4. Successful Turkish Immigration Month Event Held in China, Attracting Wide Attention Domestically and Internationally
2019 marked the first anniversary of the new policies of the Turkish Investment Citizenship Project, and the Turkish Immigration Month event was successfully held in China in September 2019. This event was jointly initiated by a hundred immigration agencies in China and received strong support from the Turkish Embassy in China, aiming to attract more investors' attention to Turkish immigration and promote cultural exchanges between China and Turkey, garnering widespread attention both domestically and internationally.
5. Greece Reopens Card Payment for Property Purchases, Introducing New Modes of Investment Immigration
On October 24, 2019, the Greek Parliament voted to approve a revised bill concerning investment immigration, which allows applicants for property investment in Greece to make payments via card. This resolves issues faced by some clients who previously needed to amend their payment pathways due to a ban on card payments for property purchases, and it provides a more convenient payment method for upcoming applicants. Additionally, based on the reopening of card payments, the Greek government has expanded investment immigration methods beyond the existing option of purchasing property starting from EUR 250,000 to include bonds, stocks, and bank deposits. Among these various investment immigration options, the current method of investing in property from EUR 250,000 remains the lower investment threshold option.
6. Cyprus Investment Program Policy Threshold Raised, Stricter Background Checks Implemented
2019 has seen tightening of the high-value Cyprus investment program policies, becoming a significant focal point in the immigration sector. On May 15, 2019, new regulations for the Cyprus Investment Program came into effect, increasing the investment for property purchases from the original EUR 2 million to include an additional EUR 150,000 in donation costs. If investors purchase properties that have previously applied for the Cyprus investment program, the minimum investment amount will rise from EUR 2 million to EUR 2.5 million, along with the additional EUR 150,000 donation costs. Furthermore, the Cyprus government has enhanced its background checks on applicants, requiring all applicants to submit declaration documents stating whether they have ever applied for citizenship in an EU member state. These measures indicate that the investment costs for the highly sought-after Cyprus EU passport for high-net-worth individuals have increased, and background checks are becoming stricter.
7. Moldova Investment Citizenship Project Suspended, May Return with a New Face After Adjustments
2019 saw the suspension of the Moldova Investment Citizenship Program (MCBI) by the Moldovan government, while relevant authorities actively reassess and optimize the program for review. It is noteworthy that despite the suspension, immigration applications submitted during this period are still being processed without any delay by the Moldovan government. Since its launch in China in November 2018 until its suspension, the Moldova Investment Citizenship Program had been popular due to its low starting investment of EUR 100,000 for families seeking Moldovan citizenship. The market anticipates that the program may return to investors with a new look after adjustments.
8. Immigration Projects Suitable for Identity Planning Gain Popularity
2019 saw identity planning emerge as a crucial factor driving investment immigration. Identity planning pertains to various aspects of life planning for investors and their families, such as career planning, tax planning, asset planning, education planning, healthcare planning, and retirement planning, among others. Immigration projects suitable for high-net-worth individuals are favored because of their quick approval, sustainable identities, lower investment thresholds, simple application procedures, tax-friendly environments, and benefits for children's education. Projects such as the Turkish Investment Citizenship Project, Montenegro Investment Citizenship Project, Vanuatu Development Program Investment Citizenship Project, and Greek Property Investment continue to gain popularity.
9. Vanuatu's Newly Revised Development Program Investment Citizenship Project Launches in China for Global Investors
2019, the Vanuatu government revised its Vanuatu Development Program Investment Citizenship Bill, eliminating differential pricing for the Greater China region, thus establishing a unified global price. The arrival of this project in China has provided Chinese investors with greater options, as they can invest approximately USD 20,000 less to apply for immigration to Vanuatu and obtain Vanuatu citizenship. This project is in high demand due to its quick approval process and relatively simple background checks.
10. Closure of the UK Tier 1 Entrepreneur Visa, 'Curved' Immigration to the UK Attracts Attention
2019 saw significant changes in the UK's investment immigration policies. On March 7, 2019, the UK Home Office published a draft amendment to UK immigration law that confirmed the closure of the UK Tier 1 Entrepreneur Visa, which will be replaced with a new Innovator Visa. Following the closure of the UK Tier 1 Entrepreneur Visa, 'curved' immigration to the UK has attracted significant interest from investors. For instance, by investing a minimum of USD 250,000 in purchasing property, one can apply for a passport from a major European country like Turkey. Turkish citizens may apply for the UK Turkish Business Visa and Worker Visa, enabling quick entry into the UK, and upon meeting certain conditions, they can also apply for UK permanent residency and citizenship. Additionally, holders of Cyprus passports, which allow families to apply for EU citizenship through property purchases, can settle in the UK if they meet residency requirements and subsequently apply for UK citizenship after satisfying certain conditions. These two national passports have emerged as expedited routes for accessing the UK.
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