Caribbean CBI countries agree on six principles proposed by the US

[pfser]

According to the article, Caribbean countries that offer Citizenship by Investment (CBI) programs have agreed to six principles proposed by the United States government aimed at increasing transparency and mitigating national security risks associated with these programs.

https://caribbean.loopnews.com/content/caribbean-cbi-countries-agree-six-principles-proposed-us
Guys, what are your thoughts, will this make the CBI programs more attractive because of transparency or vice versa?

 

[Sols]

It takes away some of the benefits for some people, but in return the passports will probably be considered slightly less suspiciously in the US at least. It seems like an over all improvement.

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This is the probably the answer to your question.

 

[Martin Everson]

To me it seems the round table with US was really only about Point 6 😉. The other points are pretty much common sense standard stuff if not comical like point 2.

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6. Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians. Four jurisdictions have already suspended applications and Grenada which processes applications from Russians and Belarusians with enhanced due diligence will suspend processing new applications from Russia and Belarus from March 31, 2023.

---- quote end

It will make the programs more attractive when you don't have US breathing down your back. I guess all parties got what they wanted out of this.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[JohnnyDoe]

Martin Everson said:
To me it seems the round table with US was really only about Point 6 😉
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Oh the mighty power of sanctions rof/% now that Russian citizens can no longer buy a Grenadian passport Putin is defeated.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[lacomaco]

The US was interested only because of the Russians and Iranians. The most important message is to the UK, which is if you accept these suggestions then you keep your visa free travel to the UK

And the next one would be the EU when they will lose the case against Malta for its already closed citizenship program

 

[extremedox101]

Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians. Four jurisdictions have already suspended applications and Grenada which processes applications from Russians and Belarusians with enhanced due diligence will suspend processing new applications from Russia and Belarus from March 31, 2023. rof/%rof/%

 

[lacomaco]

extremedox101 said:
Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians. Four jurisdictions have already suspended applications and Grenada which processes applications from Russians and Belarusians with enhanced due diligence will suspend processing new applications from Russia and Belarus from March 31, 2023. rof/%rof/%
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Indeed that is part of the agreement, did you hear about new?

 

[extremedox101]

lacomaco said:
Indeed that is part of the agreement, did you hear about new?
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it's not that i don't trust this news , but i'm laughing because usa using other countries to boycott russia .

now the Caribbean passport won't give you visa free for russia ?

 

[Houdini]

As long as the mess in Ukraine is going on as long they will proceed stricting options for Russian's and their PEP.

 

[lacomaco]

extremedox101 said:
it's not that i don't trust this news , but i'm laughing because usa using other countries to boycott russia .

now the Caribbean passport won't give you visa free for russia ?
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If you read the news release, you will find that the five countries will not give citizenship to Russians in the future. Nobody said that visa-free travel to Russia is forbidden for the citizens of these 5 Caribbean countries - not at least because it is the sovereign right of the Russian Federation to decide whom to let in and whom to refuse

I'mRobot said:
As long as the mess in Ukraine is going on as long they will proceed stricting options for Russian's and their PEP.
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What do you mean by “they will proceed stricting options”?

 

[extremedox101]

lacomaco said:
Nobody said that visa-free travel to Russia is forbidden for the citizens of these 5 Caribbean countries - not at least because it is the sovereign right of the Russian Federation to decide whom to let in and whom to refuse
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i know but politicians use common sense sometimes . it's possible that russia would like to return the favor and approach equal treatment with those caribbean countries. disallowing the previous visa-free travel will give russia one point as it will take away a little advantage from these cbi programs . but on the other hand i believe it's smart move from caribbean countries .

 

[Praetorian]

extremedox101 said:
i know but politicians use common sense sometimes . it's possible that russia would like to return the favor and approach equal treatment with those caribbean countries. disallowing the previous visa-free travel will give russia one point as it will take away a little advantage from these cbi programs . but on the other hand i believe it's smart move from caribbean countries .
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If anything the russian government is happy with this ban because their oligarchs/wealthy class has less ways to circumvent russian laws. Plus it forces russians to use european hubs like Malta or Cyprus which hare easier to reach by the russian government.

 

[wellington]

Ah, the little American islands...

 

[OnAndOffshore]

I agree with commenters above who said this was mostly about # 6. It truly was in my opinion as well, and I also agree that the rest are - for the most part - common sense. HOWEVER.... some people are missing a key point here based on my observation. This was an excellent way for the USA to close down the gap for Russians and people of Belarus to get into the USA by simply buying their way in WITHOUT having to modify its OWN (US) immigration rules. Actually, a rather fascinating way by the US Government to achieve this by making the Caribbean CIB countries to change their own ways of processing applicants while having a direct impact of their own (US) immigration. While it is only one door closed out of many others, it is yet another door they managed to close with it. Here is what I mean:

The reason why Grenada has been a long-time favorite for people is because they were using it as a gateway to get into the USA. Because of the country's status / treaty with the USA of E-2 investor visa program, wealthy individuals from Russia and Belarus could simply outright buy a passport from Grenada, and as a Grenadian apply in the USA for the E-2 investor visa and move their business (and their family) there. Now that's done. Sure, you can say that they still have many-many ways to do it.... but they will be much more difficult and lengthy. I helped many people with this strategy and there are still MANY ways to do this but it is yet another door closed for easy access. Again, applauding the USA for making this happen without modifying their own program that would have cost the US Taxpayers a lot of money.

Bravo!