Introduction Ma Maria Pa Patsalos Partner Immigration - - PDF document

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2016 New York EB-5 & Investment Immigration Convention

Migration Agent Workshop

Citizenship by Investment in the Caribbean

Barry Collymore, De Savary Chisanga Chekwe, Citizenship by Investment Unit: Antigua and Barbuda Wendell Lawrence, Caribbean Governance Consultants, Inc. Moderated By: Maria Patsalos, Mishcon de Reya

Introduction

Ma Maria Pa Patsalos Partner

Immigration Group—Mishcon de Reya LLP

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Citizenship by Investment Options

Eur European: 1) United Kingdom 2) Cyprus 3) Malta 4) Portugal Ca Caribbean: 5) Antigua 6) Grenada 7) St Kitts and Nevis

• St. Kitts and Nevis

Wen Wendel ell Lawren ence

Chairman Caribbean Governance Consultants, Inc.

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Benefits of St. Kitts and Nevis Citizenship

• Citizenship for life which can be passed on to future generations
• Visa-free travel to 130 countries including the U.K., Schengen Area

(EU), Hong Kong, Singapore and Brazil

• No personal income tax whatsoever and no need to file Income Tax

Returns

• Full residence status and the right to work in the federation
• Dual citizenship is allowed
• Social and economic stability
• Rights to travel and work within the OECS and CARICOM region
• A range of legitimate tax planning devices including IBC’s, captive

insurance companies, limited partnerships, LLC’s, exempt companies, trusts and foundations

• Can be useful to EB-5 applicants while they wait to qualify for U.S.

citizenship

SIDF Contribution Option

• St. Kitts and Nevis

T

• qualify for citizenship of St. Kitts and Nevis under the SIDF Option, the Government

requires a contribution to the St. Kitts and Nevis Sugar Industry Diversification Foundation. Under this option, the minimum contributions to the SIDF to qualify persons to apply to Citizenship by Investment are as follows:

US$ 50,000.00 additional contribution for each dependent above 7, inclusive of all Government fees 60 to 90 days processing time Overall outlay is clear, very efficient processing

Number of Persons Required Contribution 1 applicant US $250,000 Applicant + 3 US $300,000 Applicant + 5 US $350,000 Applicant + 7 US $450,000

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Real Estate Option

• St. Kitts and Nevis

US$400,000 real estate purchase required

(minimum; in an approved project)

Fees

• US$ 50,047 Government fees for main applicant, plus US$ 25,047 for spo

use and child ren under 18years,

• US$50,047 for each dependant between 18 and

25 years attending school or parents 65 and older dependent on main applicant

• US$7,500 due diligence fees for main applicatio

n and US$4,000 for d ependen ts 16 years and over

• Approx. 1-2% purchase costs (taxes, conveyance, etc)

60 to 90 days processing time Real-estate can be after 5 years of ownership and qualifies next buyer for citizenship

Grenada

Ba Barry Collymo more

Co-director De Savary

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Antigua and Barbuda

Chisanga Puta-Chekwe

CEO Citizenship by Investment Unit

Program Overview

Antigua and Barbuda

• Antigua and Barbuda Citizenship by Investment Act, 2013
• Unit staffed with private sector personnel
• Offers visa-free access to over 130 countries, including Schengen area, United

Kingdom and Canada

• Decisions within 90 days on most files,
• No restrictions on dual nationality,
• Citizenship for life, once residency requirement is met,*
• Straightforward application process, no minimum net worth requirement or

previous business experience,

• No tax on worldwide income, inheritance, capital gains or investment returns.
• History of a stable currency US$1 = EC$2.70 (XCD)

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Investment Options

Antigua and Barbuda

• 1. National Development Fund
• A. Single applicant*, or a family of 4 or less:
• US$200,000 Contribution**
• B. Family of 5 or more:
• US$250,000 Contribution

(Up to three dependents pay no processing fees)

• 2. Real Estate Investments

US$400,000 investment minimum - in an approved project

• 3. Investment in Business

– Single investor US$1.5M, two or more investors US$5M (each at least US$400,000)

*Any person 18 and above who makes a qualifying investment and his/her dependents. **All options are subject to processing, due diligence and passport fees

CONTACT US

Chisanga Puta-Chekwe Government of Antigua and Barbuda Citizenship by Investment Unit 3rd Floor, ABI Financial Centre Redcliffe Street, St. John’s, Antigua W.I. Tel: 1(268) 481-8400/1/2 info@cip.gov .ag www.cip.gov .ag

Maria Patsalos Partner, Immigration Group Mishcon De Reya LLP 70 Kingsway Africa House London WC2B 6AH United Kingdom E: maria.patsalos@mishcon.com T: +44 20 3321 7457

• Mr. Wendell Lawrence

Chairman Caribbean Governance Consultants Inc. Koi Building One Airport Road Basseterre

• St. Kitts

T el: 869 465 0051 Email: info@cgcinconline.com

Barry Collymore De Savary

Contact Us

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Disclaimer

This presentation outline and the presentation itself are for general education purposes only and are not intended to provide specific guidance or legal advice about what to do or not to do in any particular case. You should not rely on this general information to make decisions about specific immigration matters. If you are not yourself a lawyer, you should seek the assistance of an immigration lawyer to help you resolve these issues. Thank you.