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club , corruption , europe , malta , malta-iip , miip , miipa , suspension , vice

Malta IIP Suspends License of Company Implicated in Kickback Allegations

September 25, 2020

Christian NesheimEditor   Malta’s Individual Investor Programme (IIP) Agency has suspended the license of BT International Limited. In a statement posted on its website on September the 22nd, the Malta IIP Agency announced the suspension force until further notice. The Agency did not immediately respond to a request for...

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caribbean , cbi , cip , citizenship-by-investment , club , fraud , grenada , percival-clouden , vice

Grenada CIP Developer Caught on Camera Promoting Illegal Discounts: CIU Investigating

July 23, 2020

Christian NesheimEditor   In a circular released yesterday, Percival Clouden, head of Grenada’s Citizenship by Investment Unit (CIU) informs stakeholders that his unit is investigating a case of illegal discounting involving a scheme to immediately buy back from the CIP investors the shares of an approved real estate project....

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bribes , club , corruption , eu , europe , romania , vice

The EU’s Actual Passports-for-Sale Threat Comes From Corrupt Officials, Not CIPs

March 16, 2020

Christian NesheimEditor   In October 2018, we reported on a large-scale bribes-for-passport scheme in Bulgaria: Bulgarian authorities have arrested more than 20 state officials employed in the Agency for Bulgarians Abroad on charges ranging from corruption to forgery in a large-scale scam that prosecutors allege provided false certificates of...

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caribbean , cbi , cip , citizenship-by-investment , club , fake-news , grenada , mohammed-asaria , range-developments , real-estate , rupert-wright , statement , vice , zampolli

Range Developments: Circulation of False Claims Are “Morally Reprehensible”

March 13, 2020

Rupert WrightAshbright   Editor’s note: Following the circulation of news articles in Grenada, Range Developments say they are once more the target of false claims made in public. The company’s statement is reprinted in full below. Views therein expressed are those of Range Developments and do not necessarily reflect...

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club , court , europe , golden-visa , residence-by-investment , ruling , uk-tier-1 , vice

UK Tier 1 Firms in Hot Water Over Self-Serving Investment Advice

January 8, 2020

Christian NesheimEditor   The UK’s Upper Tribunal has put an end to a business model that lent money to Tier 1 applicants on the condition they invest in a company controlled by the same individuals. When the UK Home Office denied the applications for extension and Indefinite Leave to...

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asia-pacific , cbi , cip , citizenship-by-investment , club , james-harris , policy , policy-updates , vanuatu , vcp , vdsp , vice

Vanuatu Govt. Moves to Stop Agents Undercutting Official Price

December 18, 2019

James E. HarrisLondon/Bangkok   Vanuatu Citizenship Commission email communicates clear directive from PM’s Office for adherence by Designated Agents to official minimum pricing levels. In a clear statement of intent to further tighten the management and distribution of Vanuatu’s Citizenship Programs (the Development Support Program (DSP) and Vanuatu Contribution...

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cbi , cip , citizenship-by-investment , club , cyprus , editors-picks , europe , jho-low , vice

The Jho Low Cyprus Case: What We Know and What We Don’t

November 5, 2019

Christian NesheimEditor   The big story in investment migration this week is that of Jho Low and the citizenship he obtained via the country’s CIP in 2015. The news implicates not only government and private business, but even the clergy. Below is an outline of some of the more...

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bulgaria , cbi , cip , citizenship-by-investment , europe , fraud , revoke , vice

Bulgaria Cancels Citizenship of 8th CIP-Investor in Three Months

September 10, 2019

Christian NesheimEditor   The office of Bulgaria’s Prosecutor-General has uncovered eight instances of fraudulently obtained citizenships over the last three months, with several cases dating back to 2011. Summer of discontent In the three months to September, Bulgaria has revoked the citizenships of eight investors in the country’s “fast...

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abraaj , cbi , cip , citizenship-by-investment , europe , malta , malta-iip , miipa , vice , wadood

Malta Hints at Revoking IIP-Obtained Citizenship as Investor Pleads Guilty to Fraud

August 9, 2019

Christian NesheimEditor   Mustafa Abdel Wadood, an Egyptian national who obtained citizenship in Malta last year through the country’s Individual Investor Programme, has pleaded guilty to charges of fraud and conspiracy. As a consequence, the Malta IIP’s authorities are indicating – although not openly stating that – they will...

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asia-pacific , cbi , china , cip , citizenship-by-investment , editors-picks , extradition , vanuatu , vdsp , vice

Details Emerge on Vanuatu’s Revoking Citizenships, Extraditing Fraud Suspects to China

July 17, 2019

Christian NesheimEditor   Last week, Vanuatu law enforcement and immigration officials, accompanied by five (plain-clothed) unidentified representatives of Chinese law enforcement, arrested six Chinese nationals – four of whom also held Vanuatu citizenships – on charges of operating a Ponzi scheme. Vanuatu officials say they canceled the citizenships of...

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