MSR Drops RICO Suit, Kuwait Revokes 12k Citizenships, 2025 IM Predictions, ++
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Investment Migration This Week
Summaries prepared by James Nuveen
MSR Media has voluntarily dismissed its civil RICO lawsuit against several Caribbean officials in the US District Court, citing the defendants' immunity and the prohibitive cost of litigation. The media company has submitted evidence of alleged fraud, money laundering, and corruption to the US Department of Justice and FINCEN for ongoing investigation. MSR Media remains committed to exposing issues while Deputy Prime Minister Ernest Hilaire expects continued political controversy.
IMI Pro David Lesperance of Lesperance & Associates expects the 2025 investment migration market to be influenced by major geopolitical and economic factors, including a new Trump administration, the UK's elimination of its Non-Dom tax regime, and ongoing tensions in the Middle East and China. These developments, predicts Lesperance, will drive interest in citizenship and residency by investment among high-net-worth individuals seeking to protect their wealth and future. Additionally, several "known unknowns" could shape the market, including potential wealth taxes in South Africa and changes to New Zealand's Investor Visa.
In 2024, Canada's business immigration landscape underwent significant change, with programs like the Start-Up Visa, Provincial Nominee Programs, and Intra-Company Transfer experiencing stricter criteria and reduced targets. Melissa Godmer of Godmer Immigration Consultant looks ahead to 2025 with three predictions about Canada prioritizing experienced candidates, enhancing regionalization efforts, and introducing even more stringent compliance measures across business immigration programs.
St Lucia's Citizenship by Investment Board has strongly denounced MSR Media's voluntarily dismissed US RICO lawsuit as a "baseless, frivolous attempt" to damage the Unit's reputation. The Board claims the lawsuit, which named several Caribbean officials, was an unsuccessful effort to threaten and extort their organization, with the media company's principal Philippe Martinez having no legitimate business ties to St Lucia. While MSR Media asserts it has submitted evidence of fraud to authorities, the Board maintains the legal action had no merit from the beginning.
Kuwait has launched a massive citizenship revocation campaign, stripping 2,863 individuals of their nationality across 54 countries, bringing the total number of revocations to over 12,000 since August. The First Deputy Prime Minister is addressing what he calls "purchasing loyalties" and fraudulent naturalization, with the government implementing strict measures including a confidential hotline for reporting dual citizenship fraud.
Investment Migration People in the news this week:
Giorgos Gavrielidis of Elxis - At Home in Greece
Arielle Tucker Certified Financial Planner™, EA of Connected Financial Planning
Graph of the Week
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