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Winners and Losers of Caribbean CBI MoA · IMI Podcasts

• 0:00
  SPEAKER_00: The Pan-Caribbean CBI Memorandum of Agreement, also known as MOA, was always going to lead to a hectic July, and it delivered.
• 0:08
  SPEAKER_00: Price updates, structural changes, and citizenship revocations quickly followed.
• 0:13
  SPEAKER_00: As a result, the CBI landscape in the Caribbean has shifted significantly, and as the dust begins to settle, IMI contacted five experts to determine the MOA's winners and losers.
• 0:26
  SPEAKER_00: Below is what they had to say.
• 0:28
  SPEAKER_00: According to Nisha McIntyre, managing director at MyGrenata Solutions, the Caribbean region as a whole emerged as a clear winner from the recent changes.
• 0:38
  SPEAKER_00: She believes this move allows the Caribbean countries to, quote, reposition our Caribbean programs as valued offerings, and our Caribbean identity as an object of desire that isn't accessible to all, end quote.
• 0:53
  SPEAKER_00: McIntyre maintains that the changes will allow the governments and agents to, quote, curate products that are aspirational of those seeking second citizenship, while simultaneously reassuring our local communities that their sovereignty will not be cheapened, end quote.
• 1:10
  SPEAKER_00: Patrick Peters, CEO of Client Referrals, shares this sentiment, stating that the quote, entire Caribbean CIP industry is a winner here, end quote.
• 1:20
  SPEAKER_00: Peters expects a quote, dip in short-term demand.
• 1:24
  SPEAKER_00: Not because of the price, but because the pool of prospective applicants has been absolutely emptied in the last 60 days, end quote.
• 1:32
  SPEAKER_00: He anticipates application volume to bounce back within 12 months, with double the investment, making Caribbean governments and promoters, quote, definite winners with these changes, end quote.
• 1:44
  SPEAKER_00: Manpreet Kataria, managing director at Alpha Immigration Associates, holds a contrasting view, suggesting that the quote, biggest losers are going to be the respective governments, end quote.
• 1:55
  SPEAKER_00: He argues that the governments allowed financing to spiral out of control, attracting attention from various quarters and forcing them to increase prices, quote, just to satisfy the bullies in Europe, United Kingdom, and U.S.
• 2:09
  SPEAKER_00: governments, end quote.
• 2:10
  SPEAKER_00: Qataria predicts a considerable dip in the number of applications, similar to what happened with St.
• 2:16
  SPEAKER_00: Kitts and Nevis after they increased prices last year.
• 2:19
  SPEAKER_00: Katria expects the price hike to hit shady RCBI experts, who were in for quick money and selling passports for 70,000 US dollars.
• 2:28
  SPEAKER_00: These individuals will now need to find new ways to sustain their business, and Qataria foresees many shops closing in the short run.
• 2:36
  SPEAKER_00: McIntyre echoes this sentiment, saying that the losers are, quote, ultimately the voracious agents, who are driven by greed and have little to no affinity of or consideration for our small islands, end quote.
• 2:51
  SPEAKER_00: Partner at Via Citizenship and InvestGC, Omer Karman, also believes that the quote, biggest loser of the game is companies who set up their entire structure based on financing, end quote.
• 3:03
  SPEAKER_00: With Caribbean CBI prices increasing, European residency and citizenship programs may benefit.
• 3:10
  SPEAKER_00: Qataria suggests that, quote, the biggest winners would be the Europe Golden Visas, mainly Latvia and Hungary, when it starts accepting applications, that is, end quote.
• 3:21
  SPEAKER_00: Karaman agrees with Qataria's assessment of Latvia's status and adds the Turkish CIP as a winner.
• 3:27
  SPEAKER_00: He says he already sees increasing demand for the Turkish program and expects it to grow significantly in the upcoming year.
• 3:34
  SPEAKER_00: Regarding the Latvian program, Karaman says it now has a unique advantage within investment migration, as it can attract lower echelon high net worth individuals priced out of the Caribbean market.
• 3:47
  SPEAKER_00: Anastasia Barna, CEO of One World Migration, considers Dominica a loser in this situation.
• 3:54
  SPEAKER_00: She believes the price increase in the Caribbean isn't significant on a global scale and won't affect other program application numbers worldwide, except maybe for Vanuatu.
• 4:05
  SPEAKER_00: Barna explains that despite losing visa-free access to the UK, Dominica's program remained popular due to its low price.
• 4:14
  SPEAKER_00: However, with prices now similar to those of other Caribbean countries, Barna thinks the pricing will considerably affect demand for Dominica's program.
• 4:24
  SPEAKER_00: Barna sees St.
• 4:25
  SPEAKER_00: Kitts and Nevis and Grenada as winners, as their prices are now more aligned with those of other Caribbean countries.
• 4:32
  SPEAKER_00: She notes that Grenada, previously the most expensive CBI program, is now, quote, on the same line and even a little bit cheaper than St.
• 4:40
  SPEAKER_00: Lucia and Antigua, end quote.
• 4:42
  SPEAKER_00: Peters highlights Antigua and Barbuda's significant change to their definition of dependence, which makes the program very attractive for families.
• 4:52
  SPEAKER_00: He highlights that children no longer need to prove financial dependency on their parents to join the application, and applicants can include siblings of any age as dependents, which is a point in Antigua's favor.
• 5:04
  SPEAKER_00: With Caribbean CBI prices increasing, Vanuatu's citizenship program may benefit.
• 5:11
  SPEAKER_00: Qataria believes that clients primarily seeking citizenship will likely turn to Vanuatu, where they can quote, pay half the cost of Caribbean and get a passport within a couple of months, instead of waiting for a year for the Caribbean passport, end quote.
• 5:27
  SPEAKER_00: Barna agrees, asserting that for families who need second citizenship, not for visa-free travel, Vanuatu is a quote, much more affordable option, especially for clients with a strong passport, end quote.
• 5:39
  SPEAKER_00: However, she notes a recent development that may impact Vanuatu's appeal.
• 5:44
  SPEAKER_00: Quote, we got the news that clients will need to go physically to the country for fingerprints.
• 5:50
  SPEAKER_00: Which sounds strange and ridiculous.
• 5:52
  SPEAKER_00: I hope it's some misunderstanding, end quote.
• 5:55
  SPEAKER_00: IMI pros who can help with Caribbean CBI programs.
• 6:00
  SPEAKER_00: This episode first appeared as an article by Amada Bas on IMIDaily.com.
• 6:05
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• 6:12
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