CS Global Partners: ביטקוין גן עדן אל סלבדור
האומה החדשה ביותר לשקול אזרחות על ידי השקעה
נשיא
סלבדור, נאיב בוקלה, אמר ביום ראשון כי ישלח לקונגרס הצעה להעניק אזרחות לזרים המשקיעים
במדינה המרכז אמריקאית, צעד נוסף בתוכניתו של המנהיג הפופוליסטי לחזק את כלכלת המדינה
על ידי משיכת הון לא מסורתי.
CS Global Partners: Bitcoin Heaven El
Salvador Newest Nation to Consider Citizenship by Investment
LONDON, Feb. 28, 2022 (GLOBE
NEWSWIRE):
Salvadorian
President Nayib Bukele on Sunday said he will send Congress a proposal to grant
citizenship to foreigners who invest in the Central American country, another
step in the populist leader’s plan to bolster the country’s economy by
attracting non-traditional capital.
“I’m
sending 52 legal reforms to congress to remove red tape, reduce bureaucracy,
create tax incentives, citizenship, in exchange for investments, new securities
laws, stability contracts, etc.,” Bukele said on Twitter.
Since
September, El Salvador has attracted increasing international interest when it
passed a law that made the cryptocurrency Bitcoin legal tender. Like the new
package of El Salvador reforms, that law was first proposed by Bukele.
If the new
citizenship legal reform is passed, El Salvador would become one of the few
countries to offer a citizenship by investment programme, joining several other
small countries, mainly in the Caribbean, according to the world’s leading
government advisory and marketing firm CS Global Partners.
CBI
Programmes usually require a vetted applicant to make a minimum monetary
contribution to a government fund or purchase real estate in the country to
obtain citizenship.
Greater
crypto freedom with CBI
“An
increasing number of crypto investors and tech entrepreneurs have started
looking to second citizenship as a means of achieving greater freedom”, says
Micha Emmett, the CEO of CS Global Partners. She added that this growing
demographic has combined assets like cryptocurrency with additional
citizenships to unlock financial autonomy and wealth diversity.
“As crypto
gained more traction in the last few years, we’ve started seeing an increase in
interest for second citizenship from the tech community. This demographic,
technologically, is already global, so it makes sense that they want their
assets to reflect this mindset,” she said.
A second
citizenship offers a level of safety and security that investors can rely on
during political or economic turmoil. The onset of the COVID-19 pandemic has
particularly triggered families to obtain second citizenship to better protect
themselves and their financial assets whilst increasing their global
mobility.
The
dual-island nation of St Kitts and Nevis has been a popular destination amongst
the wealthy, mainly because of its CBI Programme. This
initiative provides a trusted route to second citizenship once an applicant
invests in the nation. Established in 1984, St Kitts and Nevis’ programme is
internationally recognised as a ‘Platinum Standard’ brand.
Despite
being the smallest sovereign state in the Western Hemisphere, St Kitts and
Nevis is one of the most technologically advanced nations in the region
regarding its crypto-friendly approach to banking. The islands recently passed
a bill simplifying the trade of virtual assets and are also currently running a
digital currency pilot programme known as DCash. St Kitts and Nevis also does
not impose income, inheritance, or capital gains tax, allowing citizens to
breathe a little freer as they focus on the investments that matter to
them.
More
countries are considering the CBI route
El Salvador
is not the only country tossing with the idea of citizenship by investment to
boost its economy. Just last month, Pakistan’s Information Minister Fawad
Chaudhry said that the Government would offer Pakistani nationality to foreign
investors, particularly as a way to recruit heavy investments from the wealthy
individuals of neighbouring China and Pakistan.
Jamaica's
Government is also being pushed to consider adopting a citizenship by
investment programme with the funds gained through the process used for various
development projects.
Julian
Dixon, CEO and broker at Jamaica Sotheby’s International Realty, made the call
in October 2021. She said funds gained from the project should be used to
invest in the country’s infrastructure, real estate, job creation and business
development.
“For a
number of countries, especially in the Caribbean, there is no denying that CBI
programmes offer a much-needed injection of foreign direct investment, often in
a way that can make a significant developmental difference. These funds are
channelled into reducing international aid and debt, developing the tourism
sector, job growth as foreigners often employ locals when expanding offices or
constructing properties, and sustainability initiatives,” CS Global Partner’s Emmett
commented.
Dixon
particularly pointed out that St Kitts and Nevis, which pioneered the
citizenship by investment programme close to four decades ago and has invested
upwards of US$300 million from the programme in modernising its infrastructure.
She said Jamaica could do the same.
A
trusted product
St Kitts
and Nevis offers a trusted product that has been acclaimed globally by
independent studies like the annual CBI Index published by the
Financial Times’ PWM magazine. With an influx of citizenship programmes on the
market, St Kitts and Nevis continues to be a powerhouse within the industry
with one of the longest-standing programmes in operation.
Those who
become citizens gain a wealth of benefits,
including increased global mobility to financial centres in Asia, Europe and
Africa, alternative business prospects, and the ability to pass citizenship
down, thus establishing a future legacy for one’s family. Additionally, St
Kitts and Nevis does not impose any personal income, gift or inheritance tax
and has a currency pegged to the US dollar, making it a financially lucrative
destination for savvy investors.
The
country’s CBI Unit, which processes all economic citizenship applications,
usually issues approvals or denials within a period of three months. There are
no interviews, language, education, or business requirements.
Travel to
the island is not obligatory, and no minimum residence stays apply either
before or after Citizenship is obtained. Due diligence procedures remain among
the industry’s most robust, and the nation is strengthening them by focusing on
enhancing fingerprinting and biometrics.
For those
looking to hedge against future risks, combining the dual-island nation’s
crypto-friendly policies and second citizenship provides investors with the
ultimate insurance policy during times of unpredictability. St Kitts and Nevis
remains the best destination for securing your future with a thriving financial
services sector and a growing crypto hub.
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