In Words of a certified advisor IMCET. By LISA McSHINE. IMC Education & Training

With a strong foundation of knowledge and expertise, we, collectively as an industry forge ahead and further improve upon the future of the Investment migration industry. Gone are the days where a second passport or relocating one’s family was considered a luxury, this is now considered a necessity or a form of insurance.

Global mobility, not being stuck is now one of the top three reasons persons are expressing as their need for a second passport. Other reasons given are security of future generations and being oppressed for the current passports they hold.

Within the eco system of the industry, there are very stringent requirements and recommended practices coming from governmental bodies and due diligence agencies regarding how companies within the Citizenship by Investment industry operate.

As to ensure that clients are provided with a premier level of service, Client Advisors are urged to complete the highest level of certification within our industry, known as the Certificate of Investment Migration.

The Investment Migration Council is the worldwide forum for investment migration, bringing together the leading stakeholders in the field. They set global standards, provides qualifications and publishes in-demand research in the field of investment migration aimed at governments, policy makers, international organisations, and the public. The IMC holds special consultative status with the Economic and Social Council of the United Nations since 2019 and is also registered with the European Commission Joint Transparency Register Secretariat (ID: 337639131420-09)

Very strict membership admission criteria is put in place to ensure advisors are of the highest professional standards. One must have proven expertise within the sector, a good reputation, and a clean professional and personal record.

Although available to all companies within the citizenship industry worldwide, successfully completing the certification is notably demanding and it takes a number of months to complete.

By LISA McSHINE

Partner – ROC Citizenship, Dubai

E: lisa@roccitizenship.com

Currently a group of a little over 200 practitioners have completed the Certification and are considered IMCET Certified.

It’s no wonder then why companies are so proud to have their Citizenship advisors as part of such a prestigious group of graduates. The Certification ensures that advisors are knowledgable, held to a high level of professionalism, work with integrity and adhere to the highest of ethical standards.

Certified advisors must at all times act in accordance with core industry values and conduct himself or herself in a manner which inspires the confidence, respect and trust of his or her clients and the wider community.

These core values are stipulated as the following:

• Citizenship advisors act within the law and do not deceive the authorities or act beyond the judicial systems in which they practice, or knowingly allow themselves to be used in any deception

• Citizenship advisors act with competence, giving sound, lawful advice having familiarised themselves with the law, policy and procedure relating to the issue in question

• Citizenship advisors act with integrity and honesty

• Citizenship advisors maintain client confidentiality

• Citizenship advisors act with impartiality and objectivity in the best interests of their client

• Citizenship advisors do not charge a fee or obtain commissions that are unreasonable in all circumstances

• Citizenship advisors shall ensure that all rules relating to the preservation and safekeeping of client property are adhered to, and shall exercise care for his or her client’s property as a careful and prudent owner would in dealing with like property

In order to be accredited with the certification, advisors must undertake an intense

curriculum containing several modules and examinations.

The modules focus on different topics within the industry and educate the advisors on their specific nuances, and best practices.The assessment model varies slightly depending on the study format one chooses to sit for. The Certification as a package, culminates in a final test at the end of the 5 Modules. While for those opting to register for Modules individually, the student needs to complete a test at the end of each Module before moving on to the next one. Let’s have a look at some of the key modules to gain some insight into the fundamental topics with which the industry sets its standards upon.

The Demand for Residence & Citizenship by Investment

In this module advisors dissect all there is to know about the expansion of dual citizenship provisions and their implications. Additionally, an industry overview and ways of acquiring the status of citizenship were some of the other subtopics studied.

Investor Migration – Know Your Customer (KYC) and Customer Due Diligence (CDD)

Some of the subtopics covered in this module included an in-depth study of

politically exposed persons, Customer risk rating and the need for extensive customer due diligence.

Anti-Money Laundering & Financial Crime Prevention

In this module advisors are taught of the dangers and red flags of terrorist financing, sanctions, concept of risk management, bribery, and corruption, among other subtopics.

Ethics, Conduct and Professional Standards in Investment Migration

This module covers code of conduct for the industry, Integrity, morality, transparency, industry best practices and competence.

Additional topics include:

• Competence

• Objectivity

• Honesty

• Confidentiality

• Conflicts of interest

• Disciplinary rules and procedures

• Regulatory compliance and continuing professional development

• Integrity and ethical practice

The above topics represent the core pillars of the Investment migration industry, all Citizenship by Investment entities should strive to uphold the highest standards within each and every one of said pillars. Having more advisors worldwide achieve their certification will be a great boost to the industry as it only works to strengthen the foundations on which the industry is built on. Within the coming months and years our hope is that even more advisors complete their certification and continue to offer the highest standard of operation and service available to clients worldwide.