LONDON (YAHOO FINANCE) — CS Global Partners, the world’s leading government advisory and marketing firm specialising in citizenship by investment solutions has announced that its been engaged by the Government of Vanuatu to help restructure and rebrand its Citizenship by Investment (CBI) programme.
The engagement demonstrates the Government’s commitment to bring positive changes to its CBI Programme, which is critical in driving inbound investment to bolster Vanuatu’s economy. The International Monetary Fund (IMF) acknowledged the importance of the country’s CBI Programme, equating it to nearly 50% of the country’s total revenue.
Vanuatu’s appointment of the government marketing firm comes following scrutiny from international partners. Apart from CS Global Partners’ proven track record, one of the deciding criteria to on board the firm was its impartiality. The firm had not been previously involved with the Vanuatu Programme. CS Global Partner’s objective but critical approach is essential in reshaping the CBI offering, focusing on security and protection to the local and international community at the forefront of its advice. In its consultative capacity, it will not be acting as a processing agent to the Programme.
With the shared goal to achieve a sustainable economic future for the country, the partnership will focus on various aspects of the Programme, including protecting the Programme’s reputation, revising the legislation to devise a solid investment framework, and developing strategies for its rebranding and promotion.
CS Global Partners wasted no time with its first line of advice. It recommended that the Government immediately prioritise the engagement of top international due diligence firms to provide thorough background checks on all applicants applying under Section 13 and 14 of the Citizenship Act [CAP 112] for economic citizenship of the country. The first of these firms deployed to office is FACT UK.
CEO of CS Global Partners, Micha Emmett, commented, “Our company vision is to drive transformation in the countries we work with. We will focus on working collaboratively with the Government of Vanuatu to ensure that relevant and effective changes to the regulatory framework, the processing unit and the due diligence structures are in place. It is of paramount importance that only reputable investors can obtain citizenship. Each investor’s application will undergo a stringent and comprehensive auditing process to mitigate any security, financial, crime and reputational risk.”
“The cornerstone of a respected citizenship by investment programme starts with robust due diligence. Our goal is to transform the Vanuatu Economic Citizenship offering to include a rigorous level of due diligence, starting with the onboarding of reputable independent due diligence agencies with the experience and knowledge to perform proper background checks on applicants.”
Due diligence reform is the first step in overhauling the Programme as CS Global Partners’ international, multicultural and multilingual team creates a solid framework for a trusted programme. The aim is to meet the growing demand of aspiring global citizens seeking alternative citizenship. CS Global Partners will recommend several other changes for implementation to significantly enhance the country’s CBI reputation and get it on its way to becoming the gold standard.
Vanuatu, an archipelago of over 80 islands in the south Pacific to the east of Australia, is part of the Commonwealth. The nation introduced its Citizenship by Investment Programme in 2016, effective from 2017. It is currently the only country in the Oceania continent to operate a CBI programme…. PACNEWS