Gunn, Lais & the Golden Visas

For several years now BDF have been stressing the importance of the Grenada CBI (Citizenship by Investment) scheme, under which investors who invest $350,000 or more in Grenada real estate projects qualify for Grenadan citizenship – fairly desirable given that the Grenadan passport is in the top 40 most powerful in the world.

The UK operates, or rather operated, a similar scheme, called the Tier 1 Investment Visa. It’s something that BDF directors Michael Gunn & Kash Lais have been pushing via their other company Global Citizen Realty. Essentially this is a means for wealthy foreign citizens to obtain UK residency by investing pots of cash and becoming directors of UK companies. GCR’s Tier 1 service includes “A suite of real estate investment products to be marketed to High Net Worth Investors in your country of origin“.

Whilst the website doesn’t make exactly clear what these investment products actually are, the website is still pushing the Bacolet Bay project, and a bit of Twitter searching also throws up something even more dubious:

 

 

 

 

Unfortunately for Gunn & Lais, this particular moneymaking scheme just came to a halt, as reported by The Guardian last week:

The global super-rich hoping to live and invest in the UK will face new visa restrictions as part of Home Office reforms designed to tackle organised crime and money laundering.

The tier 1 visa, which provides a fast track route to settlement for people willing to invest millions in the UK, will be suspended from Friday until new rules are put in place in 2019.

Bad news for Gunn & Lais, but good news it appears for the citizens of Cambridge at least.

 

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