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Nauru CBI Boss Reveals Details on Commissions, Processing, and More in Interview With IMI · IMI Podcasts

• 0:00
  SPEAKER_00: Edward Clark, CEO of NARU's new Citizenship by Investment program, discusses crucial details such as program management, operational procedures, agent certification and commissions, application caps, and more in an interview with IMI.
• 0:15
  SPEAKER_00: How is the program structured and managed?
• 0:18
  SPEAKER_00: Can you reveal the details regarding the deal with Henley and Partners?
• 0:22
  SPEAKER_00: The government of Nauru has engaged Henley and Partners to design and set up the Nauru Economic and Climate Resilience Citizenship Program.
• 0:29
  SPEAKER_00: The Nauru Program Office is based in New Zealand and is run independently of Henley and Partners and the Nauru government.
• 0:37
  SPEAKER_00: This is to ensure the CIP is run to the highest standard and is not subject to conflicts of interest or undue influence.
• 0:45
  SPEAKER_00: Therefore, investors can be confident that the program will deliver both their needs and assist Nauru in developing climate adaptation and sustainable development projects.
• 0:56
  SPEAKER_00: What is the agent commission structure?
• 0:58
  SPEAKER_00: Agents will receive a commission of$25,000 for a successful application.
• 1:03
  SPEAKER_00: What are the agent tiers and licensing fees?
• 1:06
  SPEAKER_00: There are different tiers for agents, local agents, international agents, marketing agents, and the agent license is$5,000 per annum.
• 1:15
  SPEAKER_00: Can agents use subagents?
• 1:17
  SPEAKER_00: Agents can contract subagents for the program.
• 1:20
  SPEAKER_00: The NARU program office requires details of and will conduct due diligence on subagents used by the licensed agent.
• 1:28
  SPEAKER_00: Is there a cap on the number of agents?
• 1:30
  SPEAKER_00: There is no cap on the number of agents.
• 1:32
  SPEAKER_00: Is the program completely remote?
• 1:34
  SPEAKER_00: Will applicants need to travel to Nauru?
• 1:37
  SPEAKER_00: The process for participation in the program is done remotely, and no travel to Noru is required.
• 1:43
  SPEAKER_00: Are all interviews online?
• 1:45
  SPEAKER_00: Will the government provide a translator?
• 1:47
  SPEAKER_00: Are agents allowed to attend the interview?
• 1:49
  SPEAKER_00: Interviews are online, and a translator will be provided if requested.
• 1:54
  SPEAKER_00: Agents are not permitted in the interview.
• 1:56
  SPEAKER_00: What specific climate resilience projects will this money fund and what oversight mechanisms exist?
• 2:02
  SPEAKER_00: Investments will be prioritized for projects that safeguard the nation's future and contribute to global environmental preservation.
• 2:10
  SPEAKER_00: Examples include energy security, access to fresh water, and the higher ground initiative.
• 2:16
  SPEAKER_00: What is the rationale behind this program and its environmental focus?
• 2:20
  SPEAKER_00: Will Nauru consider adding other investment options such as real estate?
• 2:25
  SPEAKER_00: This funding will help transform Nauru into a living laboratory for climate adaptation strategies.
• 2:31
  SPEAKER_00: However, we believe the benefits of this program extend far beyond our shores and will help protect the biodiversity of the South Pacific.
• 2:39
  SPEAKER_00: Traditional funding mechanisms have proven insufficient in the face of the climate crisis, which is why this program has been designed to appeal to forward-thinking investors who recognize the urgent need for climate action and wish to play a tangible role in shaping a sustainable future.
• 2:56
  SPEAKER_00: The government takes this project seriously and is committed to a sustainable future, good governance, and accountability.
• 3:04
  SPEAKER_00: What due diligence measures are in place?
• 3:06
  SPEAKER_00: All applicants will undergo the strictest and most thorough due diligence procedures, and only individuals of the highest caliber will be accepted.
• 3:14
  SPEAKER_00: This is a fundamental pillar of our program and a safeguard for Nauru's reputation and security.
• 3:21
  SPEAKER_00: We are committed to working closely with all stakeholders, including international law enforcement agencies.
• 3:26
  SPEAKER_00: Is there a cap on the number of applications or an overall target?
• 3:30
  SPEAKER_00: There is currently no citizenship target or cap set by the NARU government.
• 3:35
  SPEAKER_00: How will new citizens renew their passports?
• 3:38
  SPEAKER_00: The program office will offer a concierge service to support the renewal of approved applicants' passports.
• 3:43
  SPEAKER_00: What happens to travel documents if citizenship is revoked?
• 3:47
  SPEAKER_00: Where a person has renunciated or has had his or her citizenship canceled, the person shall not be eligible to obtain or retain a travel document issued under the Passports Act 2011.
• 4:00
  SPEAKER_00: Any travel document issued to a person shall be seized or canceled immediately upon renunciation or cancellation of citizenship by the Secretary under the Passports Act 2011.
• 4:11
  SPEAKER_00: More Pacific nations seem to be considering CIPs recently, including the Solomon Islands, while Vanuatu is an already established program.
• 4:20
  SPEAKER_00: Is there any regional coordination?
• 4:22
  SPEAKER_00: We cannot speak for other Pacific nations.
• 4:24
  SPEAKER_00: However, we should point out that the Nauru Economic and Climate Resilience Citizenship Program is very different from anything offered by Vanuatu, and has been established through independent consultation and support that ensures internationally recognized best practices.
• 4:40
  SPEAKER_00: Is the government actively working on enhancing visa-free access for its passport?
• 4:45
  SPEAKER_00: Nauru values its relationship and visa-free access to 89 countries and has received nothing but support from those countries.
• 4:52
  SPEAKER_00: We will aim to increase the visa-free status for the Nauru passport over time.
• 4:59
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDAily.com.
• 5:04
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 5:11
  SPEAKER_00: And upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.