Measures to minimize eventual risks are taken within the Citizenship by Investment Program and the risks are practically reduced to zero. Among the measures are the number and nature of the examinations to which the applicants for citizenship are subjected, said representatives of Henley & Partners, which is the Moldovan Government’s partner in implementing the Citizenship by Investment Program.
In a news conference at IPN, Paddy Blewer, Group Public Relations Director at Henley & Partners, said the requirements are drastic. The person who applies for nationality and the source of the money that is to be invested must be known. The company’s representative said that in his career he worked as an analyst in security, especially in the region of the CIS, and knows diverse money laundering and terrorism financing schemes. “With the greatest conviction and knowledge of the subject, I want to report that the method of obtaining citizenship by investment is the riskiest one for an individual with a criminal past or a dishonest one to legalize their capital,” stated Paddy Blewer.
According to him, the examinations relating to applicants for nationality are carried out through internal sources of the company, through Europol and Interpol, through internal information sources of the governments of the countries where the program is implemented. The program’s office in Chisinau also carries out checks concerning the applicant and the sources of the money. “In this case, the Citizenship by Investment Program reduces to zero all the enumerated risks and does not serve to cover the activities related to money laundering or terrorism financing,” said Paddy Blewer.
He noted that if it goes to dishonest activities, there are much simpler methods for these persons to obtain nationality. For example, in many countries there are citizenship regaining programs. The rigors of the citizenship by investment system are much more drastic than in the case of other programs.
“There is one more comparison, that with petroleum. As in the case when petroleum is found, the citizenship by investment can create jobs and can also generate capital flows into Moldova’s economy. However, as in the case of petroleum reserves, there are particular limits that are used up. Within the Citizenship by Investment Program, the limit is of 5,000 persons,” explained the representative of Henley & Partners.
According to him, in such conditions it is very important to have a plan for the future, while the capital obtained under this program should be used for diversification and strategic development, strengthening of the economy.
