Alleged Greek Golden Visa Scam, Russian SVV Reveals 47 Eligible Nations, ++

Alleged Greek Golden Visa Scam, Russian SVV Reveals 47 Eligible Nations, ++

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Investment Migration This Week

Summaries prepared by James Nuveen

The Greek Anti-Money Laundering Authority is investigating a widespread pyramid scheme targeting Chinese investors in the country's Golden Visa program, where property sellers allegedly pocket €150,000 per deal. Alexander Varnavas, FIMC states the scheme operates through a network of companies and intermediaries, deceiving buyers with overpriced properties, tax manipulation, and false contracts, leading to significant financial losses and even reported suicides among victims.

The answer is yes. But is it practical to hold multiple passports with different names across various countries like Jason Bourne? IMI Pro James Nuveen notes that while it is legal to change one's name and obtain passports in different jurisdictions, he examines the significant challenges in maintaining those multiple identities, including travel complications, AML/KYC issues, inheritance problems, and the need for meticulous planning and consistency.

Hong Kong's relaunched Capital Investment Entrant Scheme (CIES) has received 500 applications in its first six months, with 47 applicants already meeting the stringent investment requirements of HK$30 million each. With a potential economic impact of HK$15 billion, the program offers a range of eligible nationalities and investment options.

Despite seemingly slow processing, IMI Pro Siren Chen and Stephen Barnes see significant growth potential for the program, potentially reinforcing Hong Kong's position as a global financial and talent hub.


Few tickets remain

Russia has launched the Shared Values Visa (SVV), which offers a path – sans language and history test requirements – to residency for citizens and permanent residents of 47 approved countries in North America, Western Europe, parts of Asia, and Oceania. Ilja Belobragin notes the program is part of Russia's strategy to address future workforce needs, expand its trade infrastructure to the East and South, and attract people seeking a better life in Russia rather than a political statement against the West.

The St Kitts and Nevis government has launched a comprehensive investigation into alleged irregularities in its Citizenship by Investment program, focusing on activities under the previous administration. The probe, led by the Director of Public Prosecutions' Office, will appoint a Special Prosecutor from a foreign jurisdiction to ensure objectivity and fairness. As part of ongoing efforts to enhance program transparency, accountability, and integrity, Prime Minister Dr. Terrance Drew has fully supported the investigation.

In the latest installment of “10 on the Weekend,” IMI sits down with Richard Hallam IM(Cert), IMCM, IGSD to discuss his beginning, goals, and concerns in the investment migration industry.

Hallam notes, “As competition for applicants increases, the ‘perks’ become ridiculous to the point that the citizenship itself is diluted. The add-ons become the focus, which then becomes infinitely exasperated by overzealous developers to the point where, well, we are now.”

Read the full interview on the website.

Investment migration people in the news this week included:


Graph of the Week


Matthew Galati

Principal at The Galati Law Firm

2 个月

Might be your best artwork yet (other than the 9/11 to cartoon Galati)

James Nuveen

Freedom Maximalist, Founder, Content Writer ??

2 个月

Great banner. Makes a statement! ??

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