World Citizenship Council recommendations to Governments

The World Citizenship Council (WCC) is proposing the following recommendations to Citizenship Investment Units (CIU) and Governments related to CBI and RBI schemes to improve the policy and governance of such schemes..

 

• Take all measures protecting the integrity of the CBI and RBI schemes restoring the confidence among investors.

• CIUs are required to make latest updates in their official website and social media pages, related to changes/amendments in CBI act, pricing etc.

• Educate public about due diligence procedures involved with vetting of applications.

• Train agents with due diligence , regulations, organising seminars with face to face meetings.

• Commit to transparency and effective governance

• Monitor the economic impact on Cbi and Rbi schemes

• International cooperation to share refused and high risk applications.

• Publish rules for promotion and advertising for agents.

• Best use of CBI funds in economic, social and sustainable development in the country free from corruption (schools, transport, hospitals, housing etc). SAVE a percentage of CBI funds for rainy day following IMF recommendations.

• Improve the government of investment schemes by providing evaluation report every two years.

• Apply new technologies such as blockchain, artificial intelligence, in strengthening the schemes.

• Upgrade security of ID cards and CBI passports to latest biometric passports which hold fingerprint, blood type, digitized photo, iris scan, facial, height, weight of applicants to prevent misuse, tampering and impersonation.

• Strengthen escrow laws related to real estate projects

• Help CBI citizens living in diaspora establish genuine connection to the country. These include requiring to visit the country more often, contribute to the welfare of the country, paying taxes, social contributions, charity donations, permanent home etc..

• Allocate funds for research and development of CBI/RBI schemes.

• Actively take part in citizenship events organized worldwide resorting confidence in applicants, agents and property developers.

• Open to new emerging payment technologies Bitcoin, Citizenship coin etc.