AsiaNet  90271

LONDON, June. 24, 2021 /PRNewswire=KYODO JBN/ --

On Monday, the People's Bank of China (PBOC) ordered four state-owned banks and

the country's leading mobile payment app Alipay to cut off all transactions

linked to Bitcoin and other cryptocurrencies. The statement urged banks and

payment firms to thoroughly check client accounts, identify those involved in

cryptocurrency transactions and promptly cut their payment channels.

Beijing's hard line on crypto, paired with the rollout of the digital yuan,

which allows the PBOC to keep near real-time transaction data of all

individuals and entities using the digital currency, has long been a concern

for many investors, entrepreneurs and businesspeople. The World Wealth Report (

https://e.issuu.com/embed.html?u=newworldwealth&d=gwmr_2020 ) noted China as

the largest exporter of wealthy migrants, with around 16,000 Chinese

millionaires leaving the country in 2019 alone. According to UK-based

investment migration firm CS Global Partners ( http://www.csglobalpartners.com/

), the trend is forecasted to continue increasing.

Wealthy Chinese individuals understand the importance of safeguarding their

financial privacy and assets, says Micha Emmett, the CEO of CS Global Partners.

"Investing in second citizenship remains a highly sought-after commodity to

provide safety and a valid exit strategy and also allow wealth preservation and

financial privacy. In a country like China, that's embroiled in a long trade

war with the US — where economic stability is being threatened, and the

government is pushing for even more monetary access — second citizenship feels

like a necessity."

According to Emmett, a popular option for Chinese HNWIs looking to diversify

their wealth and secure financial privacy is an investment in an economic

citizenship programme like that of St Kitts and Nevis. St Kitts and Nevis'

Citizenship by Investment (CBI) Programme ( https://ciu.gov.kn/ ) is recognised

internationally as a 'Platinum Standard' brand and has been hailed by the

annual CBI Index ( http://www.cbiindex.com/ ) as offering the world's fastest

citizenship timeline. Applicants who pass vetting procedures can obtain

citizenship and thus apply for a passport within three months.

Until the end of 2021, a family of up to four can receive St Kitts and Nevis

citizenship with a contribution of $150,000 to a government fund (

https://www.ciu.gov.kn/the-sustainable-growth-fund/ ) instead of the previous

$195,000. In exchange, investors are awarded citizenship which grants them

rights to live, work and study on the dual island. Economic citizens also

become eligible to travel to nearly 160 countries and territories.

Contact:

pr@csglobalpartners.com

www.csglobalpartners.com

SOURCE: CS Global Partners