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European Commission Steps Up Infringement Procedures Against Malta, Cyprus' ‘Golden Visa’ Schemes

The European Commission has taken further steps in its infringement procedure against Malta’s ‘golden passports’ scheme, warning the country that Malta is failing to fulfil its obligations towards the EU treaties with its citizenship programme.   Last year, Malta phased out the controversial IIP scheme and replaced it with a new scheme that the government says focuses more on residency and can lead to citizenship.   But the European Commission had launched infringement proceedings and asked Malta to provide a detailed explanation.   The government had replied to the EC last year, telling it that Malta would not cede on...
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EB-5 Investor Visa Update

  Find out how China Offshore can introduce you to new intermediaries for your project or services.       While the news on the EB-5 investor visa appears promising, Congress has still failed to reauthorize the EB-5 regional center program beyond its June 30, 2021, sunset date.   Reduced Minimum Investment Amount   A federal district judge has struck down the 2019 EB-5 “modernization” regulation, finding the rule was invalid because it was enacted by DHS officials who were appointed to their posts in violation of the 1998 Federal Vacancies Reform Act (FVRA). Behring Co., the operator of Behring Regional Centers, brought suit...
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Hong Kong driving UK golden visa activity during the pandemic

Find out how China Offshore can introduce you to new intermediaries for your project or services.       By Prof. Dr. Amarendra Bhushan Dhiraj   Research by Astons, the international experts on real estate, residency, and citizenship through investment, has revealed the international makeup of the super-wealthy heading to the UK during the pandemic via the UK Tier 1 Investor visa.   The analysis shows that the number of main applicants for the program was down -20% in Q1 of 2021 when compared to their pre-pandemic level in Q4, 2019. With the number of dependents related to these main applicants also falling by...
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Oman launches investment residency scheme for foreigners

Find out how China Offshore can introduce you to new intermediaries for your project or services.         Oman will begin issuing long-term residency to foreign investors, the government said Wednesday as authorities attempt to shore up the Gulf nation's flagging economy.   Depressed demand for oil and the coronavirus pandemic has hit the sultanate's finances hard, pushing leaders to seek alternative sources of hard currency.   Foreign investors and retirees will be granted the right to long stays in the country under the scheme starting in September, the Ministry of Commerce, Industry, and Investment Promotion said in a statement....

NRI businessman Vedanta Baruah becomes first Assamese to get UAE's Golden Visa

  Find out how China Offshore can introduce you to new intermediaries for your project or services.       Vedanta Baruah is the CEO of Berns Brett Masaood Insurance LLC, an insurance broking firm that has offices in the UK, the EU, and India. He was granted a special visa in the investor category by the Department of Economic Development, Abu Dhabi, UAE.   Vedanta Baruah, an NRI entrepreneur who hails from Assam's Dibrugarh district, has been awarded the UAE's 10-year Golden Visa, which is mostly reserved for prominent global personalities. Baruah is the first Assamese to receive the UAE's Golden...
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G7 finance ministers agree on 15% minimum tax to crack down on corporate tax dodging

    Find out how China Offshore can introduce you to new intermediaries for your project or services.       By Hamish Boland-Rudder   The deal has been praised as a historic step in ending the ‘race-to-the-bottom between tax havens but will need international backing to move forward.   A group of the world’s most economically advanced nations has agreed on landmark new reforms to crack down on cross-border tax avoidance that would force multinational corporations like Google and Apple to pay taxes in the countries where they operate, rather than in tax havens where they choose to shift their profits....
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Belt and Road Initiative projects ramp up Nigeria's favourable perception of China

By Nwachukwu Egbunike   Is China's silk road leading Nigeria to sufficiency or imperialism?    In December 2020, the latest of China’s many industrial investments in Nigeria, the railway between Lagos and Ibadan, became operational. Running 156 kilometers long and costing some $1.5 billion US dollars (USD), its opening was accompanied by public fanfare and Chinese government tweets, celebrating it as another victory for both Chinese-led developments, and for China’s public image in sub-Saharan Africa.    Over the past two decades, China’s investment in Nigerian industries, and especially transport, has offered Nigeria access to capital and expertise for badly needed development, at...
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Bulgaria Enhances its Citizenship Program

    Find out how China Offshore can introduce you to new intermediaries for your project or services.           Amendments introduce new investment options and improved processing.   March 12, 2021 — Today, in the Bulgarian State Gazette, the recently voted bill on amending the legislation governing the country’s Investor Program for Residence and Citizenship was promulgated. Among the changes are new investment options and requirements, abolishment of the original government bond option, modified application procedure, and improved processing times.   The amendments are largely in response to the recommendations of the European Commission, which are aimed at streamlining and...