2019 was a year of significant change in the immigration industry. Looking back, many countries around the world have seen constant changes in their immigration policies, and numerous emerging immigration programs have risen and quickly become popular in the immigration sector. After careful research and analysis, and after consulting with immigration professionals and investors from relevant countries, WorldWay Group has selected the "Top Ten Immigration Events of 2019" to share with investors and the industry.
1. EB-5 investment price hike: The era of "immigrating to the U.S. for $500,000" is gone forever
The "wolf of price hikes" for EB-5 investment immigration has truly arrived. The U.S. Citizenship and Immigration Services (USCIS) administrative reform regulations officially took effect on November 21, 2019: the investment amount for projects in TEA areas increased from $500,000 to $900,000; the investment amount for non-TEA area projects increased from $1 million to $1.8 million, and the investment amount will be automatically adjusted every 5 years based on the inflation coefficient. This marks the end of the 29-year era since 1990, where one could immigrate to the U.S. with $500,000 in TEA areas or $1 million in non-TEA areas!
2. Turkey's Citizenship by Investment Program heats up rapidly, becoming one of the two major European immigration hotspots alongside Greece
Since the Turkish government announced the lowering of the threshold for its Citizenship by Investment Program, reducing the real estate investment amount from $1 million to $250,000, the program has quickly climbed the popularity charts in the immigration sector, sparking unprecedented discussion. In April 2019, the "Official Launch of the Turkey Citizenship by Investment Program and China Inauguration Ceremony" was held in China, and the program officially entered the Chinese market! Since then, the Turkey Citizenship by Investment Program has swept through the immigration industry with lightning speed, becoming one of the two major European immigration hotspots alongside the Greek real estate immigration program. It has also become another popular choice for investors' 2019 status planning, attracting significant market attention!
3. Montenegro's Citizenship by Investment Program launched, igniting the immigration sector
After much anticipation, and one year since the Montenegrin government first announced its Citizenship by Investment Program, the program was officially opened to global investors for applications in 2019 after various refinements. The Montenegro Citizenship by Investment Program is valid for three years, ending on December 31, 2021, with a limit of 2,000 application slots. In November 2019, the "Official Launch of the Montenegro Citizenship by Investment Program and China Inauguration Ceremony" was held in China, causing a stir in the immigration industry. As a leading candidate country for EU membership, Montenegro may join the EU by 2025. With assets denominated in Euros, its Citizenship by Investment Program is considered by the industry to be a "potential stock" and a "high-growth stock."
4. The Turkey Immigration Month event successfully held in China attracts widespread domestic and international attention
In September 2019, on the first anniversary of the implementation of the new Turkish Citizenship by Investment Program, the Turkey Immigration Month event was successfully held in China. The event was co-initiated by 100 Chinese immigration agencies and received strong support from the Embassy of Turkey in China. It aimed to attract more investor attention to Turkish immigration and promote immigration cultural exchanges between China and Turkey, drawing widespread attention both at home and abroad.
5. Greece reopens credit card payments for property purchases and adds new investment immigration options
The Greek Parliament voted to pass an amendment to the investment immigration bill on October 24, 2019. According to the bill, applicants for Greek property investment immigration can pay for their property purchases via credit card. This resolved issues for some clients who previously had to revise their payment paths due to the ban on credit card property purchases, and provided a more convenient payment method for subsequent applicants. At the same time, on the basis of reopening credit card payments, the Greek government added various investment immigration methods such as bonds, stocks, or bank deposits, in addition to the original investment immigration method of purchasing property starting from 250,000 Euros to apply for a Greek Golden Visa. Among the various investment immigration methods, the current property purchase immigration starting from 250,000 Euros remains the method with the lowest investment amount.
6. Cyprus Investment Program policy threshold raised, background checks tightened
In 2019, the policy for the high-value Cyprus Investment Program continued to tighten, becoming a major focus in the immigration sector. On May 15, 2019, the new bill for the Cyprus Investment Program took effect. On top of the original requirement of purchasing property starting from 2 million Euros, a 150,000 Euro donation cost was added; if an investor purchases property that has already been used for a Cyprus Investment Program application, the minimum investment amount will increase from 2 million Euros to 2.5 million Euros, plus the 150,000 Euro donation cost. At the same time, the Cypriot government strengthened background checks on applicants, requiring all applicants to submit a declaration document stating whether they have ever applied for citizenship in an EU member state. The implementation of this series of policies means that the investment cost for the Cyprus EU passport, which is highly favored by high-net-worth individuals, has increased, and background checks have become more stringent.
7. Moldova's Citizenship by Investment Program suspended; may welcome investors with a new look after adjustments
In July 2019, the Moldova Citizenship by Investment (MCBI) program was announced as suspended by the Moldovan government. Meanwhile, relevant government departments are actively re-evaluating and optimizing the program for review. It is worth noting that since the suspension of this project, the Moldovan government has been processing immigration applications that have already been submitted as normal, without being affected! Since its entry into China in November 2018 until its suspension, the Moldova Citizenship by Investment Program was highly popular due to advantages such as the ability for the whole family to apply for a passport from the continental European country of Moldova starting from 100,000 Euros. The market expects that after the project is adjusted, it may welcome investors with a new look.
8. Immigration programs suitable for status planning are highly popular
In 2019, status planning became an important motivation for investment immigration. Status planning relates to every aspect of the life planning of investors and their families, such as: career planning, tax planning, asset planning, education planning, medical planning, retirement planning, and so on. Immigration programs suitable for high-net-worth individuals for status planning are favored by investors due to their advantages such as fast approval, sustainable status, low investment threshold, simple application procedures, tax friendliness, and benefits for children's education. For example, the Turkey Citizenship by Investment Program, the Montenegro Citizenship by Investment Program, the Vanuatu Development Support Program, and Greek real estate immigration continue to gain popularity.
9. The newly revised Vanuatu Development Support Program for global investors lands in China
In 2019, the Vanuatu government newly revised the Vanuatu Development Support Program investment citizenship act, canceling the differential pricing for the Greater China region and implementing a unified global price. The arrival of this project in China gives Chinese investors more room for choice. Chinese investors can spend about $20,000 less to apply for immigration to Vanuatu and obtain Vanuatu citizenship. Moreover, this project is highly sought after due to its fast approval speed and relatively simple background checks.
10. UK Tier 1 Entrepreneur visa closed; "curved" immigration to the UK attracts attention
In 2019, there were many changes to the UK investment immigration policy. On March 7, 2019, the UK Home Office announced a new draft amendment to the UK Immigration Rules, confirming the closure of the UK Tier 1 Entrepreneur visa and replacing it with a brand-new Innovator visa. Influenced by the closure of the UK Tier 1 Entrepreneur visa, "curved" immigration to the UK has attracted much attention from investors. For example, Turkey, where one can apply for a major European country's passport by purchasing property starting from $250,000, allows its citizens to apply for the UK Turkish Businessperson visa and worker visa to quickly go to the UK, and after meeting certain conditions, they can apply for UK permanent residence and citizenship; in addition, as Cyprus allows the whole family to apply for an EU passport through property purchase, its passport holders can apply to settle in the UK if they meet the UK residency requirements, and can apply for UK citizenship after meeting certain conditions. The passports of these two countries have become a shortcut for curved entry into the UK.
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