Black Immigrant Daily News

The world’s most definitive guide on citizenship by investment, the CBI Index, was published today by PWM Magazine, a publication from the Financial Times in collaboration with CS Global Partners and offers readers a view of an industry in metamorphosis.

Released amid a year that has, again, been marked by heightened uncertainty, increased security risk, political instability and intensifying calls to act on the global warming threat, the CBI Index comes at a time when most individuals are reassessing the base they call home and are looking for more stable environments that not only offer security but business, health and education opportunities for generations to come.

Despite a tumultuous global environment and an investment industry harrowed by scrutiny from the EU and USA, this year’s CBI Index hints at opportunity amidst the chaos – opportunity for the CBI industry to evolve and perhaps be the answer to those who look to it to harness the world’s offerings.

Often thought of as a Plan B, the CBI Index infers that in a post-pandemic reset, there has been a shift in trust away from government as individuals obtain second, or multiple citizenships, and take control of their destinies. The new global citizen will look to invest in ‘Plan A’ and a more positive future for people and planet.

While the CBI Index is a rating system designed to measure the performance and appeal of global citizenship by investment (CBI) programmes across a diverse range of indicators, it is also a voice for the industry and a forward-looking manual that offers readers a glimpse of what the industry could be provided that industry players come together and shape its regulatory environment to benefit not only host countries, but citizens around the world who have realised that home need not be their place of birth, but where opportunities lie.

This Index is intended as a practical tool, both for those who wish to compare CBI programmes as a whole and for those who wish to compare specific aspects of each programme.

Its purpose is to provide a rigorous and systematic mechanism for appraising programmes, to facilitate the decision-making process for individuals considering them, and to bring value to the CBI industry.

The CBI Index assesses all countries with operational CBI programmes, which, in 2022, include Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, St Lucia, Turkey and Vanuatu.

The CBI Index rates CBI programmes according to these nine pillars: Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Freedom of Movement measures the relative strength of each country’s citizenship based on three equally weighted factors: the number of destinations to which a country’s passport allows travel without restriction, the number of prime business hubs to which it provides access, and the degree to which a given citizenship provides settlement rights in other nations.

The Standard of Living pillar is a measure of the quality of life offered by the 13 CBI jurisdictions under assessment and this pillar is vital to those who yearn to relocate and secure a prosperous and fulfilling lifestyle. Similarly, it is key to those wanting to take advantage of local business opportunities or needing to transfer and safeguard their assets.

The Minimum Investment Outlay pillar measures one of the most practical and foremost considerations of CBI – how much capital is required for the investor to become an eligible applicant for the programme of their choosing. The cost of applying for CBI increases with the number of dependants — or qualifying family members — included in an application. In some jurisdictions this increase is proportional, while in others the cost only increases following the inclusion of multiple dependants.

Mandatory Travel or Residence examines the travel or residence conditions imposed on applicants both before and after the granting of citizenship.

The Citizenship Timeline pillar looks at the average time taken for citizenship to be secured by the applicant.

The Ease of Processing pillar measures the end-to-end complexity of the CBI application process. In some jurisdictions, the application process can be a labour-intensive and painstaking task that is time-consuming for the applicant; in others, it is streamlined, and the applicant receives clear directives on how to proceed. The overall effortlessness of the application process is a particularly important component, and the promise of a smooth, hassle-free process can generate readiness to engage with a programme.

The Due Diligence pillar focuses on each nation’s commitment to ensuring that their programme remains transparent and effective at evaluating potential candidates for citizenship. It is therefore a measure of each programme’s integrity.

The Family pillar measures the extent to which investors can obtain citizenship for their immediate and extended family. The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.

Lastly, Certainty of Product encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation and adaptability. Additionally, it assesses a programme’s responsiveness to major global events, such as the Covid-19 pandemic and the war in Ukraine that have had a significant impact on global mobility and due diligence requirements.

As the CBI industry undergoes its own challenges and metamorphosis, the CBI Index gives worldly investors a reliable analysis of reputable programmes that will enable them to choose second citizenship in destinations that will fulfil their needs.

Download the full report here to see which of the thirteen countries took top spot and gain further insight into the CBI industry.

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Opposition MP Dinesh Rambally. File photo/Sureash Cholai

Chaguanas West MP Dinesh Rambally is once again taking the judiciary to task.

He says its response to his concerns over its involvement in the Mercy Committee’s selecting candidates for pardon has left more questions than answers.

In another media release sent on Sunday, Rambally said the Judiciary’s response, while attempting to rebut his concerns, actually confirmed many of them.

On Saturday he raised a concern that judiciary staff, 13 judicial research counsels and the registrar’s office were compiling a list of candidates for the mercy process ­– the process by which prisoners sentenced to death are deemed eligible for presidential pardon.

Government said in August that it was considering a proposal by the Criminal Bar Association to release 60 prisoners as part of the commemorations of the 60th anniversary of independence on August 31. The proposal suggested the prisoners be released in batches, the first six on Independence Day.

But on Saturday Rambally asked whether an advisory had been established in accordance with sections 87, 88 and 89 of the Constitution who was on the advisory team; what are the criteria for people being selected; and whether the advisory committee was mandated to consider reports after the proposal was made.

“The Judiciary must not only be an independent institution it must also be seen as such. Without an established, transparent protocol for interactions between the Executive arm of the State and the Judiciary, any random communications between the two can amount to an obvious breach of separation of powers,” he said.

The sections of the Constitution on the powers of pardon say an advisory committee will consider applications for pardon and advise the President. The committee must consist of a minister designated by the President, the Attorney General, the Director of Public Prosecutions and up to four other members appointed by the President after consultation with the Prime Minister and the leader of the opposition. It also says the case judge will provide case files for the committee to consider.

On Sunday the Judiciary said in a media release that the Mercy Committee had contacted it through the acting Permanent Secretary of the Ministry of National Security asking for copies of records of the cases of prisoners on death row seeking pardons.

“The Judiciary did not compile a list of eligible people to be recommended for pardon. The list was provided to the Judiciary by the acting Permanent Secretary,” the Judiciary said.

The Judiciary said the registrar in the office of the Attorney General and the Court Administration Unit compiled the case files and summaries because many of the cases were old and the case judges were either retired or dead.

But Rambally fired back, saying if the trial judge is dead or retired the Judiciary still does not have the power to prepare summaries. He said to deal with the absence of a trial judge there must be an amendment to section 89 (1) to widen the circumstances in which the written report may be acquired.

He suggested that the Judiciary should focus on holding expeditious trials “so that the guilty are punished and the innocent are set free.”

He commented, “Confidence in the Judiciary, when last measured by a poll in 2019, was at an abysmal 27 per cent.”

He criticised the secrecy over whether pardons are being considered and the policy, procedure and considerations involved in the process.

“After all we must appreciate that the process of granting pardon is not one whereby a select few get together and say that this applicant is a good boy,” Rambally said.

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Black Immigrant Daily News

Mayor of Montego Bay Councilor Leeroy Williams has charged MSMEs to give more support to local manufacturers, as the country continues to rebuild after the COVID-19 pandemic.

The mayor was speaking at the launch of the Montego Bay Chamber of Commerce and Industry’s EXPO 2022, which was held at the Montego Bay Convention Centre on August 18.

“As a facilitator of trade and commerce, this Expo will go a far way in building Montego Bay’s resilience and create socio-economic opportunities for its people.

As leaders, we are mandated to provide platforms for these businesses to grow and contribute to the country’s gross domestic product. …As Jamaica continues to rebuild, I am challenging our local business operators to take steps towards investing more in local manufacturing, and expanding exports.”

The biennial Expo is Western Jamaica’s largest business tradeshow and will return to the Montego Bay Convention Centre on November 4.

“The business sector, and more specifically the manufacturing sector, has been growing even in the face of COVID-19, but there is room for improvement. The Chamber of Commerce and Industry has been working assiduously to improve and sustain a vibrant business plan for economic growth despite the many socio-economic challenges which we as a city continue to face,” Williams added.

This year’s expo will be staged in conjunction with the Montego Bay Parish Council.

Expo 2022 is also the chamber’s largest public forum and business conference to support its members and connect them to the rest of Jamaica, and the world, through its partners.

President of the Jamaica Manufacturers and Exporters Association John Mahfood, who was also the launch’s guest speaker, underscored the challenges of the day owing to the pandemic and said, “It is important that we make up for the lost opportunities of the past few years by working even harder. We must also recognize the severe hardship that our people had to endure including the loss of purchasing power”.

“Businesses in Montego Bay have only just started to recover from the economic effects of the pandemic and the Chamber is excited for the opportunity once more to support not just our members, but to provide an avenue for networking, buying and selling and to engage in discussions that will propel the city and the country forward,” said Damia Dawes-Monthrope, Chairman of the Expo 2022 committee.

“We are looking forward to showcasing the best of Western Jamaica on November 4 and we encourage all businesses to be a part of this event,” Monthrope added.

Expo 2022 is anticipating over 100 businesses and 5000 patrons for this year’s event, which will be held under the theme, “Building resilience, creating opportunities”.

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 Antigua and Barbuda’s steady tourism rebound continues for yet another month as, stayover tourism arrivals for July 2022, have topped the July 2019 pre-pandemic record.

The Antigua and Barbuda Ministry of Tourism is reporting a growth in arrivals of 7% for the month of July against benchmark year 2019.

During the month, Antigua and Barbuda welcomed 24,673 visitors to the destination, an increase over 2021’s 23,405 and the 2019 record of 23,031.

Antigua and Barbuda’s Minister of Tourism The Honourable Charles Fernandez said, “For a second year, we are experiencing a healthy summer season as consumer travel confidence grows and travellers make the decision to take that long-awaited vacation or previously delayed trip.

In July, we say a notable increase in group travel that contributed significantly to our growth, with one group from the US, bringing in approximately five hundred visitors travelling to enjoy our summer events.  We are optimistic that we will maintain this strong position of growth into August.”

An influx of visitors from the United States contributed to the increase with arrivals 30% higher than in July 2019.   13,305 of Antigua and Barbuda’s tourists travelled by air from the United States in July, an additional three thousand plus when compared to July 2019.

Photo Caption: Antigua and Barbuda Tourism Arrivals Comparison July 2022 and July 2019  

statistics reported by the Ministry of Tourism, Antigua and Barbuda 

There was also growth within the UK market, with an increase of two hundred and seventy-two British visitors to the destination leading to a 5% increase in tourism arrivals for the month over 2019. Arrivals stood at 5,650 in comparison to the 5,378 in 2019.

Arrivals from Canada grew by 1% while the Caribbean market saw a decline of 19%.

During the summer month, the Antigua and Barbuda Hotels and Tourism Association reported occupancies of 63% across a sample of their hotel members.

In July, 9678 of visitors stayed at hotels, while 11, 487 patronized Guest Houses and Apartments/Villas.

The Antigua and Barbuda Tourism Authority is attributing the 7% growth in air arrivals for the month July 2022, when compared to July 2019, to increased airlift, aggressive destination marketing, easy travel protocols, the enthusiasm amongst consumers to return to travel, and their eagerness to once again participate in Antigua’s summer carnival.

CEO of the Antigua and Barbuda Tourism Authority, Colin C. James said: “Antigua and Barbuda is presently listed amongst the top ten Caribbean destinations leading the Caribbean tourism recovery efforts.

“With good month-on-month growth and our overall tourism arrivals for the year to date only 16% less than the 2019 figures, Antigua and Barbuda’s tourism rebound prospects are looking positive, particularly when we consider global tourism forecasts.

For the Fall, our teams will continue to focus on closing the gap and achieving full recovery”, James said.

Overall, total stayover arrivals for the period January – July 2022 (YTD), stand at 154, 099. This is a 91% increase over the 2021 comparison of 80,509 and a 16% narrowing of the gap of the 2019 January – July totals that stood at 184,465.

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