Online media in the Citizenship by Investment (CBI/CIP) industry, which is relied upon to a large part by investors seeking to acquire a second passport, and which purport to be a source of objective information about economic citizenships, fail to detail the risks consumers are taking on when they apply for a CBI investment. This is because companies such as Immigration Migration Insider (IMI) have a major Conflict of Interest, due to the influence of passport vendors and consultancies, which are major financial contributors to the publication, and frequently publish articles about CBI that fail to disclose the complete truth, concerning risks, as well as events which the investors should be advised of, prior to paying six figure fees and costs to purchase an economic passport. Don't expect the full truth from any publication who leading contributors are from the industry it is reporting upon.
The CBI media industry itself misleads the public, categorizing CBI as a valuable tool for wealthy individuals in high-risk jurisdictions to relocate to safer countries, or to give their children better educational opportunities. In truth and in fact, visa-free access to the Members of the European Union and the United Kingdom and Commonwealth countries is the principal reason for purchase.
Due to the Conflict of Interest, IMI and other online publications fail to detail several major risks that CBI purchasers potentially face, and which, had they known these shortcomings, might make them change their minds. Some of these are:
(1) Many of IMI's vendor clients have been selling illegally discounted CBI products for years, the sale of which constitute criminal acts under Saint Kitts & Nevis law, and also subject the purchasers to summary revocation of their expensive passports. IMI continues to support these companies and allow them to contribute content and advertise on its pages.
(2) Many of the CBI jurisdictions, such as Saint Kitts, Saint Lucia, Dominica and Malta, have a long history of not only being rogue tax havens, but as centers for money laundering, fraud, international sanctions evasion and corruption, and who openly sell CBI passports to career criminals involved in such illicit activity, who wish to conceal their true identities.
(3) There is a major ongoing criminal investigation in the United States, which could result in the indictment of CBI vendors and consultants, the loss of those valued EC and UK visa privileges, and even the complete termination of CBI programs. The risk to investors of loss of a substantial amount of money is again, not disclosed by IMI to its readers. Additionally, The role of Christian Nesheim, the CEO of IMI, who facilitated the CBI industry's program on disinformation and nondisclosure, through allowing vendors and consultants a forum which was supposed to be truthful and objective, needs further investigation.The role of Christian Nesheim, the CEO of IMI, who facilitated the CBI industry's program on disinformation and nondisclosure, through allowing vendors and consultants a forum which was supposed to be truthful and objective, needs further investigation.
Therefore, obtain advice from competent legal counsel before engaging in any application for the purchase of a second citizenship & passports. Know the risks before you buy.
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