???? Cultural GV Surges, ???? Cancels Russian Citizenship Path, ?? A History of Denaturalization, ++

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Investment Migration This Week

Summaries prepared by James Nuveen

Governments throughout history have used citizenship revocation as a tool for reshaping populations, punishing dissent, and seizing wealth (over $350 billion since 1900). Denaturalization has targeted vulnerable groups through legal mechanisms that often precede broader human rights abuses. The tech-enabled modern era presents new risks to citizenship rights.

Russian investments in Portugal increased 49% to €450.6 million since 2022, despite a suspension following the Ukraine war. Portugal resumed processing Russian Golden Visa applications in 2024 after courts ruled a suspension violated constitutional rights. Sara Sousa Rebolo clarifies that practical obstacles remain including banking restrictions and scrutiny from the EU.

Vanuatu's Prime Minister ordered the cancellation of Indian cricket executive Lalit Modi's citizenship after learning he sought to avoid extradition. Modi, who fled India in 2010 while under investigation for financial irregularities, recently attempted to surrender his Indian passport after obtaining Vanuatu citizenship.?

Kyrgyzstan suspended Russian citizenship applications after a 1650% increase created concerns about potential corruption. Russians primarily used the Soviet-era Quadrilateral Agreement to obtain Kyrgyz passports without living in the country. Natalie Fridlender, IMCM suggests a formal CBI program would bring more transparency.

Portugal's Cultural Heritage Golden Visa has attracted €22.15 million in investments since 2020, with strong growth particularly after Portugal eliminated the real estate option, notes Madalena Monteiro, Cert (IM) . Investors from America, India, and Canada have funded 38 cultural projects across Portugal.

Investment migration people in the news this week included:

• Rohit Kapuria of Saul Ewing LLP
• Laura Foote Reiff of Greenberg Traurig, LLP
• Matthew Galati of The Galati Law Firm
• Nuri Katz of Apex Capital Partners
• Kristin Surak
• Dimitry Kochenov
• Michael Wildes of Wildes & Weinberg, P.C.
• Nuno Cunha Barnabé
• Dominic Volek , Basil Mohr-Elzeki , Dr. Christian H. Kaelin , Juerg Steffen , and Marios Rafail of Henley & Partners - The Firm of Global Citizens?
• Dominic Jones of Greener Pastures New Zealand
• VARUN SINGH of XIPHIAS Investment Migration Inc.
• Russell A. Stamets of Circle of Counsels
• Armand Arton of Arton Capital - Empowering Global Citizenship?
• John Hu of John Hu Migration Consulting Vietnam
• Kim Ji Sun of Dae Yang Immigration Law Group
• Grace Tang of Phillip Private Equity
• Sandeep Jain of Multipolitan
• Nicholas Mastroianni III and Akshat Gupta of US Immigration Fund
• Paul Williams of La Vida - Golden Visas
• Jessica M Vaughan
• PIYUSH GUPTA of CanAm Enterprises
• Kripa Upadhyay
• Ishaan Khanna of the American Immigrant Investor Alliance
• Prashant Ajmera of Ajmera Law Group
• Simon Gordon of Sovereign Corporate Services MENA
• Poorvi Chothani, Esq. of LawQuest - Attorneys, Advocates & Solicitors
• Aarushi Gupta of Donoso & Partners, LLC

Graph of the Week