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Savory and Partners: What does the future hold for Citizenship by Investment?

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DUBAI, UAE, Sept. 2, 2023 /PRNewswire/ — Recent developments surrounding the Caribbean citizenship by investment programs have shed light on challenges faced by investment migration across the world.

St Kitts & Nevis, Grenada and Dominica recently announced that they will begin conducting interviews with citizenship by investment applicants as part of their new enhanced due diligence framework. St Kitts & Nevis also doubled the minimum investment amount for their CIP, and restricted Iraqi nationals from applying.

These developments are said to have come in the aftermath of a Caribbean – US roundtable discussion as well as the EU-CELAC Summit in Brussels, held earlier this year. The meetings resulted in six new principles the Caribbean CBIs must follow, these include:

  1. Collective agreement on the treatment of denials: Not to process applications from persons whose applications have been denied in another CIP jurisdiction by proactively sharing information on denials.
  2. Interviews: Conduct interviews with applicants, whether virtual or in-person.
  3. Additional checks: Each jurisdiction will run checks on each application with the Financial Intelligence Unit of its respective country.
  4. Audits: Audit the Programme annually or every two years in accordance with internationally accepted standards.
  5. Retrieval of passports: Request law enforcement assistance in retrieving revoked/recalled passports.
  6. Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians.

The guidelines aim to increase the efficacy of the program’s due diligence process while also streamlining communication between the government, agents, and investors.

But St Kitts & Nevis doubling the minimum investment amount may not be a result of EU pressure alone. It is a complex matter that takes into account the future value of money, inflation, and currency fluctuation, among other factors. The CIP has to make financial sense for the country as well as the investors.

The industry has been through bigger upheavals, especially in the 90s when programs were opening and closing at alarming rates. The Caribbean CIPs have withstood more turbulent times and continued to be not only relevant but extremely popular throughout.

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The demand will never slow down because citizenship by investment is so life-transforming. It breaks down so many barriers that it will always be a hot commodity for everyone. The price hike may have a minor effect in the short term, but going forward, it is business as usual.

Savory & Partners’ Founder and CEO Jeremy Savory shares his views on recent developments in the Caribbean programs and the future of the Citizenship by Investment industry.

The industry has faced seismic changes before, and it has adapted accordingly; how big of an issue do you think this is? And will it inevitably snowball into something bigger?

We do expect other Caribbean CIPs to follow suit because it makes strategic sense for them to protect the benefits of the investors and give maximum returns to them as nationality holders. We may be looking at price hikes across the board and Turkey and Greece have already done it.

It’s interesting how the citizenship by investment landscape is changing, but it’s nothing new. These transformations are not isolated occurrences but rather reflective of broader global trends. One example is the introduction of the Electronic Travel Authorisation (ETA) processes in the EU and the UK.

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And it’s not just Europe. Look around, and you’ll see countries everywhere tweaking their visa rules – visa waivers come and go. Why? It’s a mix of reasons – security, trade, diplomacy – you name it. Every country is playing its cards to get the best deal.

How do you think it will affect the Caribbean states on a micro-level, as well as the agents that offer these CIPs?

I think the donation option won’t differ a lot. The major difference might be in the real estate option because one of the very few criticisms Caribbean CIPs get is that some of the projects take longer to complete and that all comes down to adequate funding.

As for the agents, well, I’ve been in this industry for a long time, and I know all the veterans and how they operate. I think this update will truly differentiate those who know intimately how the governments think and what investors want from the newer, smaller agents with short-term self-interests of generating revenue.

Would you advise a client to go for another Caribbean CIP instead of St Kitts & Nevis?

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Citizenship by investment is an intricate, delicate matter that requires a lot of expertise and precision to get right, and that is why I don’t consider the price increase to be a major issue.

In essence, St Kitts & Nevis is merely re-aligning its CIP pricing to underline its position as the platinum passport option, thereby reducing volumes to better invest in processing and due diligence, ensuring higher quality applicants.

Each investor is different and being authorised for several years in several countries means we put the client’s needs first and not limit ourselves to any one jurisdiction.

Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered with coverage in over 20 jurisdictions including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. To date it has processed second passports for over 4,000 citizens with a 100 percent success rate. For more information visit www.savoryandpartners.com.

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For more information, please send an email to [email protected]. You can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

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The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

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EQT AB Group

 

View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

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BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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