None
PT
Investor residency plan edges forward
['Dashan Hendricks Business Content Manager Hendricksd Jamaicaobserver.Com', 'Kediesha Perry Observer Writer']
Jamaica Observer
Jamaica is moving closer to introducing economic residency for qualifying foreign investors, but the required investment, job-creation targets, and eligible assets remain undisclosed.
JAMAICA’S long-delayed plan to grant residency to qualifying foreign investors has moved closer to Parliament, more than four years after its formal implementation target and more than a decade after Jamaica Promotions Corporation (Jampro) recorded the proposal.
“The proposals include the introduction of an economic residency programme which is intended to support a more enabling environment for potential investors who do not present a national security threat to Jamaica,” the report said.
Jampro’s 2013/14 annual report described the Jamaica Economic Residency Programme as a proposed immigration-residency category for foreign investors undertaking projects involving a predefined amount of capital.
Economic residency would not itself confer citizenship.