Latest / IMI Podcasts / How to Get British Citizenship Via Residency in a British Overseas Territory

Transcript

How to Get British Citizenship Via Residency in a British Overseas Territory · IMI Podcasts

• 0:00
  SPEAKER_00: Premier Natalio Wheatley has recently announced that the British Virgin Islands, also known as BVY, is developing a residency by investment, also known as RBI Program.
• 0:09
  SPEAKER_00: Premier Wheatley had described the RBI program as, quote, a strategic initiative to generate revenue through application and processing fees for residency permits, end quote.
• 0:19
  SPEAKER_00: He says the program will focus exclusively on residency rather than granting citizenship.
• 0:24
  SPEAKER_00: This limitation exists because BVI lacks the power, aka Ultra Vires, to legislate in the area of citizenship.
• 0:34
  SPEAKER_00: Understanding this requires knowledge of the various status types in a British overseas territory, referred to as BOT, such as BVI.
• 0:43
  SPEAKER_00: Local status falls within the purview of the local BOT government.
• 0:48
  SPEAKER_00: BOTs use different terms, belonger status in BVI and Bermuda, or simply status in the Cayman Islands.
• 0:56
  SPEAKER_00: This status grants exclusive rights in the territory, including the right to run for local government office.
• 1:02
  SPEAKER_00: This differs from BOTC citizenship.
• 1:05
  SPEAKER_00: The UK government holds exclusive authority over granting this type of citizenship.
• 1:10
  SPEAKER_00: The British Nationality Act, referred to as BNA, governs naturalization rules, which the UK government administers through the local UK governor or the Home Office.
• 1:21
  SPEAKER_00: Since May 2002, BOTCs can register for and obtain full UK citizenship.
• 1:28
  SPEAKER_00: Under the BNA, an applicant must maintain at least five years of residence, including at least one year without time restriction, FPR example, permanent residency.
• 1:38
  SPEAKER_00: Applicants must not spend more than 450 days outside the BOT in the five years before application, and cannot spend more than 90 days outside the BOT in the final 12 months.
• 1:50
  SPEAKER_00: Applicants can apply to waive these strict requirements, but the government retains ultimate discretion.
• 1:56
  SPEAKER_00: Local governments hold exclusive power to grant residence, but must comply with UK immigration laws.
• 2:02
  SPEAKER_00: This prevents BOT governments from passing residence laws that exclude paths to permanent or indefinite residence.
• 2:08
  SPEAKER_00: Hence, when BVI exercises its legislative authority to create a residence program, it must allow for permanent residence.
• 2:16
  SPEAKER_00: An individual's qualification for BOTC and ultimate UK citizenship depends on meeting BNA requirements or obtaining discretionary relief from UK officials.
• 2:26
  SPEAKER_00: Whether the European Union attempts to impinge on Malta's national sovereignty over the MEIN program or a BOT like BVI announces a residence-only investment program, it is critical to know who has legislative authority and who does not.
• 2:42
  SPEAKER_00: This episode first appeared as an article by David Lesprince on IMIDAily.com.
• 2:48
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 2:54
  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.