Investment Migration Forum Dubai 2024

Last week, La Vida had the pleasure of attending the IMC’s 2024 Forum in Dubai. Despite the challenges posed by the unexpected UAE floods, our team, along with industry experts, legal partners, government officials, and developers from around the world, successfully participated in the conference. Hosted by former BBC News anchor Anya Sitaram, the forum offered deep insights into multiple investment migration topics relevant to Europe, the Caribbean, and the USA.

Over the course of the two-day event, several discussions took place surrounding the recent changes to the Caribbean Citizenship by Investment (CBI) programmes. A key moment was the address by the Prime Minister of St. Kitts and Nevis, Terrance Drew, who explained the proactive measures taken by their government to preserve the integrity of their CBI programme. Notably, St. Kitts and Nevis was the first to raise their programme prices to pioneer the way of the anticipated changes. Additionally, the Prime Minister announced the introduction of new technology and a client portal to streamline the tracking of CBI applications.

A significant panel discussion involved the heads of all five Caribbean Citizenship by Investment Units (CIUs), who shared their future visions for the programmes, focusing on improving processing times and strengthening due diligence. Earlier this month St Kitts, Dominica, Antigua and Grenada collectively announced that prices will rise by June 30th 2024, although specific details regarding the exact date and adjustments to real estate prices are yet to be announced. Saint Lucia, are the only nation to not follow the price rise at this point and they stated that this is due to contractual ties with their real estate partner.  All participating nations addressed concerns regarding certain agents who offer financed and discounted routes that contravene established legislation. The head of Saint Lucia’s CIU, Mc Claude N. Emmanuel stated that any agent found to be offering CBI below the regulated prices will be sanctioned and banned from selling the programme. He also stated that ”Saint Lucia do not support underpricing of any offering below the regulated price”. A point that all five nations are in agreement on.

The forum also explored other pressing topics, such as the rising popularity of Portugal’s new fund option and the future of Spain’s Golden Visa programme. Discussions extended into ethical practices, compliance standards, due diligence, and the technological advancements in the sector, including the integration of artificial intelligence. These conversations underscored a collective commitment to elevating the integrity and efficiency of investment migration practices globally.

In addition to the enlightening presentations, the forum provided numerous opportunities for our team to engage with our existing partners and establish valuable new connections. These interactions ensure that La Vida remains well-informed and well-connected within the industry.