Posts in English Terminology

Our special posts in English language terminology.

Moldova suspends citizenship by investment scheme

The Moldova Citizenship-by-Investment (MCBI) program, developed in partnership with its service provider Henley & Partners, has been temporarily suspended due to «questions about the companies that are involved in this program» after a Dubai developer used it to entice investors.

The Kleindienst Group, which is selling properties in the Heart of Europe development, a group of man-made islands 2.5 miles off the coast of Dubai, had promised they would be eligible for Moldovan citizenship.

As part of the offer, those who invest $1.36m into the project are eligible to apply for the MCBI, which is subject to a multi-stage due diligence procedure. Moldova is not an EU member but its citizens enjoy visa-free…

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Blockchain technology will be a game changer for the investment funds business

Credit Suisse's asset management arm and Banco Best, a Portugal-based bank, have used blockchain technology to process an end-to-end fund transaction and said «considerable benefits» would come from the technology.

Chief digital officer for Credit Suisse, Pascal Nägeli, describes blockchain technology as «a great lever to increase efficiency» and notes how the experiment proves the advantages of distributed ledger technology for clients and asset managers alike. Claude Metz, head of shareholder services in Luxembourg for Credit Suisse, said:

Blockchain technology in connection with potential mutualised KYC (know your client) servicing will be a game changer for the investment funds business.

Portugal's…

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Significant changes to the Maltese pension regulations

The Malta Financial Services Authority has made significant changes to the Maltese pension regulations which will have a major impact on how advisers operate in the jurisdiction

Advisers in Malta are now subject to much tighter requirements. According to the financial watchdog, it is no longer enough for the investment adviser to just be licensed. Now, the license must allow the adviser to provide investment advice to the Member.

All advisers have until 30 June 2019 to obtain the necessary licenses to continue providing advice to a client.  With effect from 1 July 2019, anyone not meeting the above requirements will not be permitted to carry on providing investment advice in respect of accounts held by a Malta…

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Montenegro Citizenship Program: Reservation procedure has started

The Government of Montenegro has officially announced a new economic citizenship program, starting from the 1st October 2018. While the legal frame of the procedure and the list of the approved real estate projects are still being prepared, the Government has already started accepting the application reservations. The demand is expected to be very high, and the total amount of two thousands of passports is expected to finish in the shortest terms.

Investors are now able to put 10,000 EUR deposit and reserve the slot. In case the passport program will not start in 6 months period, the deposit will be returned in full amount.

Program Benefits

  1. Fast procedure. Residency within 3 weeks…
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New residency requirement to register as a voter in St. Kitts and Nevis

Nationals of St Kitts and Nevis who live overseas and have enjoyed the right to vote since 1984, will soon find that right restricted in the next general elections based on a residency requirement.

The government has tabled in the St. Kitts and Nevis National Assembly an amendment to the National Assembly Elections Act to impose a residency requirement for a national to be eligible to be registered as a voter.

The National Assembly Elections (Amendment) Bill, 2017 given its first reading on March 28, seeks to amend Section 37A, replacing the expression «ordinarily resident on the registration date» with the words «ordinarily resident for at least six months before the registration date».

Another proposed amendment to the…

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