Moldova Citizenship Acquisition Investment Program

The Public Services Contract for the Development, Implementation and International Promotion of the Citizenship Acquisition Program for the Government of the Republic of Moldova with the Lead of the Consortium Winner, MIC Holding LLC and Henley & Partners Government Services Ltd, was signed today, July 11, 2018.

 

The Commission for Examination of the Citizenship Registration by Participation in the Investment Program in the Republic of Moldova selected the winner of the public tender for the award of the public service contract for the elaboration, implementation and international promotion of the Citizenship Acquisition Program for the Government of the Republic of Moldova . The purpose of the Citizenship Acquisition Program is to strengthen the international perception and competitiveness of the Republic of Moldova in order to attract foreign investments direct in the areas of strategic development established by the Government.

 

According to the members of the Commission, the winning Consortium has provided the best plan to implement the Citizenship Acquisition Program for the Government of the Republic of Moldova. “Citizenship for investment is a form that applies in several countries, such as Latvia, Malta, Cyprus, Canada, Australia and others. The Government of the Republic of Moldova has developed this instrument based on good international practices and counting on the identification of a good, trustworthy, internationally experienced partner. Now that the partner has been identified, we sign the contract with confidence that over the next 5 years the volume of investments will reach a cumulative value of 1.3 billion euros. Moldova needs to be very active in attracting investments, “said Minister of Economy and Infrastructure, Chiril Gaburici, President of the Commission.

 

Under the contract, the Consortium will bear the economic risk, the initial and continuing costs and expenses related to technical design, implementation, advisory work, training, and international promotion of the Program. The Government will not fund the consortium for the services provided by the public means and its costs and expenses will be covered by the commissions paid by the applicants for citizenship through investments.

 

In the framework of the implementation of the contract, the winning Consortium leader, MIC Holding LLC, will focus on increasing foreign direct investment, developing a country brand in order to strengthen the global perception of the Republic of Moldova and develop real estate. MIC Holding LLC will generate new economic opportunities and expand foreign sources of income for the Republic of Moldova, thus ensuring immediate foreign capital investment in one of the strategic development areas of the Republic of Moldova.

 

MIC Holding LLC is in close collaboration with the Boston Consulting Group (BCG), a strategic partner of MIC Holding LLC and an international management consulting company with 90 subsidiaries in 50 countries. BCG has already gained reputation as a world leader in strategic consulting, assisting governments around the world in developing value-added strategies.   

 

Henley & Partners is an independent professional services company specializing in Citizenship Acquisition Programs and is considered as the world leader in this field. The company has 4 (four) Citizenship Acquisition programs implemented, with government mandates from the following countries: Republic of Malta, Saint Kitts and Nevis, Antigua and Barbuda and Grenada.

 

The Henley & Partners team of highly qualified specialists, with around 300 people, works together in over 30 offices around the world. The company created the concept of residence and citizenship planning in the 90’s of the last century. It also provides the highest quality consultancy services to governments across the world. As a result of his work, he collected more than $ 6 billion in foreign direct investment, actively engaging in strategic consultation, development, organization and deployment of global residence and citizenship implementation. 

 

The legal and administrative implementation of the Citizenship Acquisition Program will ensure the granting of citizenship only to program applicants who fully meet the best international standards of diligence. In this regard, Henley & Partners has provided a very rigorous verification system for the good economic and financial reputation of people who want to acquire citizenship of the Republic of Moldova by investing in four levels. First level checks will be performed by global diligence companies (eg Binder Dijker Otte (BDO), Risk Advisory Group, or Thomson Reuters) and will focus on past history verification and validation of the information contained in the application forms. The last level of verification will include the rigorous verification of applications to the Program through competent authorities of the Republic of Moldova such as: Interpol, SIS, MAI, CNA.

 

Henley & Partners

 

Henley & Partners, the global leader in residence- and citizenship-by-investment, has won the public tender to design, implement, and internationally promote the much-anticipated Moldova Citizenship-by-Investment (MCBI) program. The firm submitted its application for the public tender — issued by the Ministry of Economy and Infrastructure of the Republic of Moldova — at the end of May.

Henley & Partners has accumulated over 20 years of experience working with governments in North America, the Caribbean, Europe, and Asia on the design, set-up, operation, and promotion of some of the world’s most successful residence and citizenship programs, raising more than USD 7 billion in foreign direct investment (FDI). With this new government mandate, it will continue its impressive track record.

The firm applied for the mandate as part of a consortium together with MIC Holding LLC (Moldovan Investment Company, or MIC), a company based in Dubai, UAE and founded to focus on strategic FDI initiatives, including the MCBI program, real estate and infrastructure development, and country branding and positioning. In addition, an agreement has been signed with the Boston Consulting Group (BCG), a leading global management consulting firm with 90 offices in 50 countries.

As specialized professional service provider, Henley & Partners will focus on the provision of a world-class citizenship-by-investment program, including government advisory; as consortium leader, MIC will focus on the overall project management, including also real estate and infrastructure programs; and as strategic partner, BCG will consult the consortium on best-in-class FDI strategy and implementation. Consequently, the consortium will provide the Republic of Moldova with a comprehensive turnkey solution that will stimulate long-term economic growth and sustainability for the country.

Marco Gantenbein, a member of Henley & Partners’ Global Executive Committee and a Managing Partner, explains: “It was clear to both MIC and ourselves that only a collaborative consortium encompassing the leading companies in each strategic area would be able to deliver a successful program to Moldova, with ‘success’ defined here as tangible benefits generated for the country and its people through the establishment and operation of a program with the highest standards of integrity and due diligence.”

Moldova’s Minister of Economy and Infrastructure, Chiril Gaburici, says his government’s primary objective is to create long-lasting societal value for the Moldovan people. “The MCBI program will provide our economy with valuable FDI that will enhance the daily lives of all Moldovans. Uncompromising due diligence standards and compliance procedures will guarantee the credibility, competitiveness, and long-term sustainability of the program. In this regard, we are delighted to be working with Henley & Partners, whose good governance systems are industry-leading.”

Gantenbein adds: “In addition to the global mobility, flexibility, and access they give private clients, investment migration programs bring significant benefits to host countries. The inflows of funds and talent are considerable, and the macro-economic implications for most sectors can be extensive. We also see our role as contributing to a more interconnected and more tolerant world. FDI increases the value of the receiving state, bringing in capital to both the public sector — in the form of donations to a country’s sovereign wealth fund, for example — and the private sector — in the form of investments in businesses or real estate. They allow for the greater socio-economic development of often smaller countries that face particular challenges when competing in a global context.”

In discussing the merits of the future MCBI program in particular, Gantenbein says that the program is poised for success on account of its competitive pricing structure and strong value proposition. “Moldova, a country of 4 million inhabitants, offers its citizens visa-free access to 121 destinations, including all the countries in Europe’s Schengen Area but also, for example, Russia and Turkey. It has entered into an association agreement with the EU and is aiming to become a candidate country for EU membership,” explains Gantenbein. “The MCBI program, which we expect to be launched within the next three months, offers both affordability and travel freedom to individuals and families and will have wide-ranging appeal for the rapidly growing investment migration client base worldwide. Crucially, however, the program promises to generate much-needed capital and international visibility for this beautiful country in Europe, which will improve the overall prospects and quality of life of its small but vibrant population.”

Citizenship by Investment Requirements

To qualify for citizenship, the main applicant must be over 18 years of age, meet the application requirements, and make the primary qualifying contribution:

1. Public Investment Fund (PIF) contribution: A minimum non-refundable contribution to the PIF starting from EUR 100,000 for a single applicant. EUR 115,000 is required for a couple, EUR 145,000 for a family of four, and EUR 155,000 for a family of five or more. Service fees amount to EUR 35,000 per application.
In addition, applicants are required to pay government fees of EUR 5,000 for the main applicant, EUR 2,500 for a spouse, EUR 1,000 for a dependent child, and EUR 5,000 for a dependent parent. Dependent children can be up to 29 years of age, and dependent parents — of the main applicant as well as the spouse — who are 55 years of age or older can be included.

Due diligence fees are EUR 6,000 for the main applicant and EUR 5,000 for a spouse, dependent children older than 16 years, and/or dependent parents. Biometric passport fees amount to EUR 300 per individual.

It is imperative that main applicants and their dependents have entirely clean personal backgrounds and no criminal records. The MCBI program regulations further stipulate that a person who has been denied a visa to a country or territory with which Moldova has visa-free or visa-on-arrival travel arrangements and has not subsequently obtained a visa to that jurisdiction shall not be accepted to the MCBI program.

Moldova has developed a four-tier due diligence system, which is considered the most thorough in the world for this kind of program.