Unity in the Age of Division at the Caribbean Investment Summit

Written by Laura Clarke from CS Global Partners. on . Posted in FDI

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The opening address by the Prime Minister for St Kitts and Nevis, Dr. the Honourable Timothy Harris."

In the midst of trending nationalism and country-centric agendas, never has there been a more necessary time for globally-minded nations to unite. This was the overriding message at the recent Caribbean Investment Summit, an event which attracted a strong regional audience, as well as expert stakeholders from around the world. The official theme Unity in the Age of Division: Emerging Trends of CIPs set the tone for robust and candid discussion on the investor immigration industry and its future.

As Citizenship by Investment Programmes (CIPs) proliferate across the globe, attendees were treated to perspectives from where it all began, in St Kitts and Nevis, where the first government legislated citizenship by investment programme began in 1984. The Summit took place over four days from the 16 May, with more than 150 delegates attending the St Kitts Marriott Resort venue for a diverse mix of industry-related topics, followed by networking events at alternate function venues, showcasing the Federation’s luxury hospitality sector.

Delegates were treated to first-hand commentary from the highest levels of government, industry leaders in due diligence, real estate and cryptocurrency, as well as presentations from all five Caribbean CBI jurisdictions. International firms were able to network with local service providers, both gaining profound insight of their respective roles within the industry. The presentations were suitably fixed on current best practice within the industry, as well as how the industry can work collectively to achieve greater strength in service and delivery to the end client.

The Caribbean Investment Summit shed light on the challenges faced, and served as a knowledge exchange for stakeholders in the industry. Speakers delivered specialist presentations ranging from Transparency versus Confidentiality, Embracing New Technology for Better CIPs, to Creative Collaborative Communication, with relating panel discussions that further stimulated responses to these aspects of the industry.

Les Khan, Chair of the Citizenship by Investment Programmes Association (CIPA) and CEO of St Kitts and Nevis’ Citizenship Unit, spoke on The Caribbean Model for Unity, focussing on the strengthening relationships between the Caribbean second citizenship nations, and how this relationship may be applied to the wider citizenship industry. He argued that, through unity, greater initiatives can be applied to ensure the longevity of the programmes, while still adhering to the high standards of which the individual programmes have become known.

The area of due diligence played a significant role in the Summit’s schedule, with international speakers sharing the message that careful and rigorous procedures are integral in maintaining the reputation of nations and their offer of economic citizenship. As the industry continues to evolve, and more second citizenship programmes enter the marketplace around the world, the Caribbean will play a critical part in setting the standard as the birthplace of the industry. St Kitts and Nevis Prime Minister, Dr. the Honourable Timothy Harris, echoed these sentiments in his welcome to delegates:  “At the industry level, shifts in global markets have placed front and centre the heightened importance of programme adaptability and resilience, harmonised industry standards and regulatory compliance, due diligence and data protection.”

The question of new technologies, namely cryptocurrency, and how they fit within the remit of citizenship by investment also played a key part of discussion in looking at the threats and opportunities faced by the industry. Cryptocurrency, which has been a dominant trending industry discourse, was highlighted as a revolution in the CIPs frameworks that may soon come to fruition. However, as an unregulated digital currency, experts in the field of due diligence pointed out the potential risks and pitfalls that remain in applying the technology before the appropriate regulations have been set.

Jeffrey Tucker, a bitcoin advocate, spoke about the opportunities that exist on the blockchain, while due diligence expert Heyrick Bond Gunning, CEO of SRM, focussed on best practice in data management and approaches to mitigating the risks associated with information sharing.

The Caribbean Investment Summit is an annual event, hosted by CIP nations within the region, designed to foster ongoing discourse on best practices, challenges and the opportunities available that will ultimately fuel and drive investment in the Caribbean.

Finland Leads the Way in Sustainable Mining

Written by Henry Martin on . Posted in FDI

Harry Sandström is the Director of Mining Finland, a national government programme connecting investors and partners with Finland’s world-leading mining opportunities and technology offering. Here he provides an insight into why the country is pre-eminent when it comes to sustainable mining.

CEO Insight: How do you define green sustainable mining? – Is it simply about limiting damage or do you embrace the idea of the industry’s capacity to be a bridge to a better future if done responsibly and effectively.

Harry Sandstrom: Apart from the normal things, i.e. that it is environmentally acceptable and brings economic and social benefits to the region and its people, as well as to the mining company, it must also encompass ethical raw material sourcing. When we consider the huge need for battery metals and minerals to come, this will be even more important in the future. Consequently, developments on this front must be promoted, not only within Finland, but also by supporting developing mining jurisdictions.

Back on Track Greek Recovery & HRADF’s Role

Written by Jamie Harrison on . Posted in FDI

Greece is at a turning point, with its economy recovering after a long recession. 2018 looks set to be an important year, one that will see the country shift up a gear. GDP growth likely rose to 1.6% in 2017, and all the indexes show a positive reversal in economic sentiment. There is a new framework for the reduction of banks’ non-performing loans, which have been a barrier to financing. Unemployment is declining, supporting private consumption. The perception of Greece as an investment destination is now greatly improving.

In this environment, the public property development program implemented by the Hellenic Republic Asset Development Fund (HRADF) is one of the main pillars for attracting capital and direct foreign investment into large-scale corporate, infrastructure and real estate assets. The fund was established in 2011 to privatise public assets to reduce public debt. Its mission, in close cooperation with the Greek government, is to attract direct investment in order to maximise revenues to the state as well as revitalise the economy.

Greece: Nothing Ventured, Nothing Gained

Written by Fergal Hogan on . Posted in FDI

After almost a decade in recession, Greece is on the road to recovery and appears to be back to stay. This reviving economy has gone through more downs than ups in the past few years but is finally seeing the light at the end of the tunnel. With a whole new legislative, political and economic infrastructure, the country is expected to reach financial stability in the next couple of years and continue down the road of sustainable growth.

The return of Greece to international capital markets via bond issuance last summer, the launch of a debt exchange in November, and the rating upgrade by both Fitch and Moody’s showed that investors again have confidence in Greece. And along with the privatisation programme and finalisation of the debt relief plan, this is ensuring a positive turn in the economy and restoring sentiment in the country. Fewer capital controls and the establishment of friendlier investment policies are giving individuals and companies more incentives to invest and be a part of what could be the next economic miracle.

Shovel-Ready Investment Opportunities in the Turks and Caicos Islands

Written by Henry Martin on . Posted in FDI

The Turks and Caicos Islands (TCI) is a clean, compliant, jurisdiction and one of the globe's stand-out investment prospects for 2018, with an abundance of opportunities offering enticing ROI. A byword for luxury vacations, on the financial services front, it has also become pre-eminent in respect of Producer Owned Reinsurance Companies (PORCs), as well as being a go-to jurisdiction for trusts and captive insurance. It is also home to the stand-out Caribbean investment story for 2018: Invest Turks and Caicos’ shovel-ready initiative,

Launched mid-October 2017, shovel-ready is a tool for catalysing and improving the marketability of development projects, so that FDI interests across the globe can swiftly identify the most pertinent projects worthy of further analysis. It is focused on quality, not quantity and leverages the high esteem in which the TCI’s business-friendly regulatory, legislative and tax landscapes and associated investment incentives, are held.

Nevis - A Welcome Investment Move

Written by Kimone Moving on . Posted in FDI

Nevis continues to be a magnet for Foreign Direct Investment (FDI) in key sectors. The Island, often described as the Caribbean’s ‘richest jewel’, has excellent infrastructure, a qualified workforce that boasts one of the highest literacy rates in the world and a growing financial service sector to satiate any business need. It has a distinctive constitutional arrangement of being part of the Federal Parliament while having a separate parliament and its own Nevis Island Administration headed by a Premier. This independent country is also a member of the Commonwealth, European Union, and CARICOM. With a stable political and economic status, it is easy to see why this well-developed and regulated International Financial Centre attracts significant FDI.

Dublin and the FDI Bonanza: From Tiger to Phoenix

Written by Fergal Hogan on . Posted in FDI

With the Celtic Tiger experience, Ireland’s economy showed the world the power of foreign direct investment (FDI) as a trigger for development. As a small country, it had traditionally depended on its agricultural output, but its participation in the European Economic Community, and later the European Union, marked a shift in economic policy towards openness and investment, with a business-friendly environment and low-tax policy forming the basis of its first miracle. Today, ten years after the Great Financial Crisis, Ireland is showing the world that it is more than a tiger, it is a phoenix.

As a tiger, in a very short period of time, Ireland went from being one of the poorest countries in Europe to a prime hub for high-value projects with the strategy of building a competitive economic and policy platform to attract as much FDI as possible. Today, after a period of post-recession austerity, the country is making use of its language advantage (it is the only English speaking country in the eurozone) and has nurtured its low-tax business environment. Its highly skilled labour pool, world-class infrastructure and technological expertise ensure its place among the top investable locations for multinationals and global corporations.

Sweden: Europe’s Power Warehouse

Written by Fergal Hogan on . Posted in FDI

More than 20 years ago, the term ‘technological revolution’ was used to describe the new industrial revolution in which economic growth was driven by information technologies as digital global companies became the new corporate giants, giants with a thirst for energy that remodelled the economic landscape and set the basis for the future of industrial evolution. In this new environment, the importance of climate change and the development of renewable energies increased significantly as a way to guarantee the sustainability of these power-centred growth patterns, and in preparation, the world set the rules in the Paris Climate Agreement.

Dublin Port: Making Waves

Written by Henry Martin on . Posted in FDI

CEO Insight’s Henry Martin speaks with Pat Ward, Head of Corporate Services, Dublin Port Company

Henry Marin: Cruises from Dublin are now possible with the news that the 5* ultra-luxury ship, Celebrity Eclipse, will be sailing from Dublin Port in 2018. What are the itineraries for these voyages and are there any plans to add further journeys or additional liners in the future?

Pat Ward: We are delighted to have Celebrity using Dublin as its homeport for part of the 2018 season. 5 Celebrity Eclipse voyages are scheduled for April and may ranging from 8 to 12 night cruises. Itineraries include the Norwegian Fjords, Ireland and Iceland cruises as well as one taking in the British Isles and the French Open. Celebrity have confirmed another mini-season of homeporting in 2019 but the itineraries for these cruises have yet to be finalised. In addition to Celebrity, CMV, Norwegian Cruise Lines, Hansa Treuhand, Pontant Cruises and Silverseas Cruises are all homeporting in Dublin in 2018 with a total of 23 turns.

Cover Story - Germany Open for Business

Written by the Online Editor on . Posted in FDI

Germany is the new hotspot for doing business and investing in Europe. As the largest market in the region and the fourth largest economy in the world, this country is one of the most attractive locations for companies and investors looking for accessibility, profitability and stability. It is the main economic engine in the EU, with one of the highest productivity rates in the world.

With a diverse economy and strong technology, finance, automobile, aviation, industrial production, medicine and even precious metal production sectors, Germany offers a highly skilled labour force and access to leading research and development facilities. It has a sophisticated infrastructure and a competitive legal and tax framework for business development and foreign direct investment.

In 2017, the German economy expanded by over 2.3%. This momentum is driving investment into the country, with FDI inflows at over €10bn and more than 80,000 foreign companies operating there. Moreover, its political stability, geographic advantages and friendly policies are enhancing growth and strengthening its position as an economic engine and regional business hub. Germany is without doubt open for business.

Hamburg: next port of call
One of the top locations in Germany is Hamburg. This exciting and innovative city is attracting companies and businesses from all over the world, offering unique opportunities in logistics, aviation, real state, transport, energy, finance, media and tourism among others. With over 1.8 million inhabitants, it is the second-largest city in Germany and is a dynamic, fast-growing and innovative location for business with all the perks of a cosmopolitan city.

The Metropolitan Region of Hamburg is one of the major trading centres of the continent and ranks as the leading location for doing business in Germany. According to the Financial Times’ fDi magazine, it is the most appealing location in the country for European and international investors given its economic potential, technological infrastructure, highly skilled labour force, and friendly business environment.

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