DUBAI 11 March 2018: Citizenship by Investment (CBI) industry has experienced an exponential growth in the past years. Low barriers to entry, interesting margins, and a growing number of HNWI interested in this service attracted many new service providers.
The most relevant challenge is the industry regulation, as CBI becomes increasingly regulated, only those adhering to the highest standards are successful and only few investment programs are approved by governments.
The hardest part in the business is not to sign a client but to deliver.
The “word of mouth” effect is particularly pronounced in circles where confidentiality, privacy, and trust are highly prized.
This industry was created to attract foreign direct investments, and we have seen the positive impacts it had for the economy for the biggest programs like Cyprus, Malta, Portugal and Canada.
Some Caribbean countries rely heavily on this money inflow to reinforce their economy. In the case of Dominica, its National Development Program earnings before Hurricane Maria struck, had reportedly reached US$50 million per month while St Kitts and Nevis citizenship unit created the Hurricane Relief Fund to contribute to the natural disaster’s recovery.
Note: Mimoun Assraoui, is CEO and David Regueiro is COO of RIF Trust, an authorized Government agent and the only company belonging to both IMC (Investment Migration Council) and GIIC (Global Investor Immigration Council).