New Citizenship by Investment Program: When Is It Coming Out?
Though it yet remains unclear when exactly the Solomon Islands’ Citizenship by Investment program will launch, there are indicators that a release is imminent. The current prediction is that it is coming most likely still in 2024, or in early 2025.
During the opening of a Donor Roundtable event, held by the Solomon Islands’ Ministry of National Planning and Development, the country’s Prime Minister, Mr. Jeremiah Manele, spoke in detail about the 100-day plan. Specifically, he mentioned that the GNUT’s aim is to “transform Solomon Islands into a country that is united and self-reliant over time.”
The Prime Minister also revealed, in a Parliamentary session, that the draft for the bill creating the program is concluded. Mr. Manele specifically said the following: “I am happy to inform the parliament that the first draft of the bill for citizen by investment has been completed by the AG’s chambers and is undergoing further peer review before submission to the Cabinet for its consideration.” Mr. Manele also stated that the program is a priority under the GNUT’s 100-day plan, which highlights the possibility that the program is coming soon.
Unfortunately, no further details about the Citizenship by Investment program itself were revealed. At the time of the writing of this article, there is no new information on the investment options and minimum thresholds. However, it is known that the program will have some form of family inclusion, as main applicants will be able to bring their family members with them to the Solomon Islands, provided they meet strict due diligence requirements.
Security also seems to be a key pillar in the Solomonese Citizenship by Investment option – on which the Prime Minister counseled that “because of potential inherent risks, the government is undertaking a thorough analysis to ensure that once implemented, all potential risks are mitigated and managed, to ensure the program brings the anticipated economic benefits to the country without undermining the credibility and standing of the country’s Ordinary Passport.”
Investment Immigration Growing in the South Pacific
Once the launch of the new Citizenship by Investment program is complete, the Solomon Islands will join Vanuatu, another country in the South Pacific that has a program of its own with several investment options. Even if investment options and minimum thresholds are still an unknown quantity, it can be assumed that the Solomon Islands will take advantage of the South Pacific’s untapped potential and truly compete in the investment immigration market, possibly up against the Caribbean Five.
The Solomon Islands ranks 34th in the Global Passport Index, allowing visa-free access to 91 countries, with another 44 countries granting a visa-on-arrival for Solomonese passport holders. On a global mobility perspective matter, Solomonese nationals already hold an advantage over Vanuatu, which currently occupies the 55th position, alongside Thailand and Guyana.
Investment Visa: Keeping You Updated on Everything Investment Immigration
Investment Visa remains committed to delivering you the latest news on everything there is to know about investment immigration, whether Residency or Citizenship. While it is a real possibility that the Solomon Islands’ Citizenship by Investment program will be launched this year, it is never too early to start thinking about a Plan B solution and a second country to settle down to.
Achieving a second passport is always a worthwhile decision, and if it is not in the Solomon Islands, then there are other countries out there with distinct options and investment amounts. Having a challenging time choosing? We can make the decision easier for you. Investment Visa’s team collectively holds more than 30 years of experience in investment immigration, and we are proud to say we have never had a Residency or Citizenship application rejected. Contact us today and unlock your brighter future.
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