Business news from Ukraine

Business news from Ukraine

Switzerland may reduce citizenship residency requirement to five years – Experts Club

Switzerland will hold a nationwide referendum on February 28, 2027, on simplifying citizenship procedures for foreign residents. The proposed reform would reduce the minimum legal residency requirement from ten to five years, eliminate the mandatory permanent residence permit C and introduce uniform federal naturalization rules, reports the Experts Club information and analytical center.

The Swiss Federal Council decided on October 28, 2026, to schedule the vote. The referendum will consider the popular initiative “For Modern Citizenship” (Demokratie-Initiative), supported by the civic organization Aktion Vierviertel.

Under current legislation, foreigners seeking ordinary naturalization must have lived in Switzerland for at least ten years, hold a permanent residence permit C, demonstrate successful integration and possess knowledge of one of the country’s national languages. Cantons and municipalities may impose additional requirements, including minimum periods of residence within their jurisdictions.

The proposed reform would allow foreign residents to qualify for citizenship after five years of legal residence, provided they have basic knowledge of a national language, have not committed serious criminal offenses and pose no threat to national security. It would also limit the ability of local authorities to impose additional naturalization requirements.

However, both the federal government and parliament oppose the initiative. In April 2026, the National Council recommended rejecting it by 130 votes to 62. The Council of States adopted a similar position in September. Authorities argue that the reform could weaken integration requirements and reduce the powers of cantonal and municipal governments.

The proposed changes could affect a substantial proportion of the population. According to Switzerland’s State Secretariat for Migration (SEM), the country had 2.414 million permanent foreign residents at the end of 2025, representing approximately 26.5% of the population. The largest foreign communities include citizens of Italy, Germany, Portugal and France. Switzerland granted citizenship to 41,269 people in 2025.

The referendum could be particularly important for Ukrainian nationals. According to the Swiss Conference for Social Welfare (SKOS), 76,851 people held temporary protection status S in July 2026. The Federal Council has extended the protection system until at least March 4, 2028.

Ukrainians who have continuously resided in Switzerland for five years under status S may obtain a category B residence permit linked to temporary protection. However, this does not constitute permanent residence. Removing the mandatory category C permit requirement could potentially expand their access to naturalization.

Nevertheless, approval of the initiative would not automatically grant Swiss citizenship to Ukrainian refugees. Additional legislation would be required to establish procedures and clarify how different categories of legal residence would count toward eligibility.

Supporters argue that easier access to citizenship would strengthen the long-term integration of foreign workers and make Switzerland more attractive to skilled professionals. Opponents warn that reducing the residency requirement could weaken existing integration standards.

As the initiative proposes a constitutional amendment, it requires a double majority: approval by a majority of voters and a majority of cantons. Existing citizenship rules will remain unchanged until the referendum.

, , ,

Barbados Plans to Introduce Permanent Residency for Investments Starting at $2.5 Million

Barbados is preparing to launch a new program to attract foreign investors, which will grant permanent residency for investments of 5 million Barbadian dollars (approximately $2.5 million USD) in government-approved projects. In the future, investors will be able to apply for citizenship through a simplified procedure that requires actual residence in the country for at least 360 days over a specified period.

The new system is intended to serve as an alternative to traditional Caribbean citizenship-by-investment programs, which are under pressure from the European Union due to security risks associated with the visa-free regime.

The bill provides for two main mechanisms for obtaining permanent resident status.

The first will allow a foreign national to apply for permanent residency after investing at least 5 million Barbadian dollars in a national development project officially approved by the government.

At a fixed exchange rate of 2 Barbadian dollars to 1 U.S. dollar, the minimum amount is approximately $2.5 million.

During a parliamentary debate on October 27, Barbados’ Minister of Home Affairs, Gregory Nicolls, cited water supply and wastewater treatment, healthcare, education, housing, renewable energy, infrastructure, technology, agriculture, and tourism as priority areas.

At the same time, investments must be directed toward projects that are of public interest and meet the criteria set by the government.

The second mechanism involves the use of a points-based system.

This will allow for the consideration of smaller investments—specifically, those starting at 1 million Barbadian dollars, or approximately $500,000—in designated development projects.

Points will be awarded based on the investment amount, the applicant’s age, family ties to Barbados, and other criteria.

Each point will correspond to six months of the required residency period, thereby shortening the standard five-year period needed to obtain permanent residency.

At the same time, investors will be required to meet physical presence requirements. To qualify for the points-based system, applicants must have resided in the country for at least 180 days over the preceding three years.

A separate citizenship bill proposes reducing the requirements for the duration of physical presence in the country.

Foreign nationals who are not citizens of the Caribbean Community (CARICOM) and have obtained permanent residency will be able to apply for citizenship after a cumulative stay in Barbados of 360 days within a statutory period of at least 1,460 days.

More lenient conditions apply to citizens of CARICOM member states: 270 days of residence within a period of at least 1,095 days.

The provisions also allow for the inclusion of the applicant’s spouse and dependents.

However, meeting the investment and residency requirements does not guarantee automatic granting of citizenship.

The Ministry of the Interior may deny an application on grounds of national security, public policy, the existence of criminal offenses specified by law, or insufficient means of support.

Minister of the Interior Gregory Nicolls emphasized that the government is not introducing a traditional Citizenship by Investment program.

The key difference is that investments will grant the right to apply for permanent residency, while obtaining citizenship will require a separate procedure and fulfillment of residency requirements.

Barbados has never had a classic program for the direct sale of citizenship, similar to the schemes in place in several other Caribbean countries.

The new rules could make the country more attractive to wealthy foreigners considering a move to the Caribbean region and investing in real estate, infrastructure, and tourism projects.

One notable change will be the ability to count time spent in the country under the Welcome Stamp program—designed for foreign remote workers—toward the legal residency period required to apply for permanent residency.

Barbados’s reform comes amid stricter European Union requirements for countries that grant citizenship in exchange for investment.

Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia have come under pressure from Brussels.

The European Commission is demanding that these countries phase out their investment citizenship programs by June 1, 2028, warning that the visa-free regime with the EU could be suspended.

The main concern of European authorities is that third-country nationals can obtain Caribbean passports without actually residing in those countries and enjoy visa-free access to the Schengen Area.

According to the European Commission, this creates risks of inadequate vetting of applicants, money laundering, and circumvention of immigration restrictions.

According to a Reuters report dated October 29, 2026, the government of Antigua and Barbuda is considering a phased closure of its program. At the same time, the country is seeking additional time and financial support from the EU to compensate for budget losses.

For some Caribbean nations, revenue from investment citizenship programs accounts for a significant portion of government revenue and funding for construction projects.

Against this backdrop, Barbados is proposing a model in which foreign capital is attracted through investments in economic development, while citizenship remains the result of a separate naturalization process.

In addition to investment needs, the Barbadian government seeks to address demographic challenges related to an aging population and a declining birth rate.

According to data previously cited by the country’s Prime Minister Mia Mottley, 3,642 children were born in Barbados in 2000, while the number of deaths stood at 2,444.

By 2024, the situation had changed: the number of births had fallen to 1,995, while deaths had risen to 3,088.

The government views attracting foreign investors and specialists as one of the tools for supporting economic development, the labor market, and population growth.

For investors, a Barbadian passport remains an additional factor of attractiveness, as it provides visa-free access or the ability to obtain a visa upon arrival to approximately 162 countries and territories, including the Schengen Area.

At the same time, investment residency alone will not provide such opportunities. They will only become available after obtaining citizenship.

As of November 3, 2026, both bills are under consideration by the Barbados Senate.

Once the parliamentary process is complete, the bills will require final approval and official enactment.

In addition, the government will need to define the list of eligible investment projects, administrative fees, the application review process, investment retention periods, and other practical requirements.

Minister of Home Affairs Gregory Nichols previously expressed hope that the new legislation would be finalized by November 30, 2026, when Barbados will celebrate the 60th anniversary of its independence.

Barbados is an island nation in the Caribbean with a population of approximately 280,000. The main sectors of the economy are tourism, international financial services, trade, and construction. The country gained independence from the United Kingdom in 1966 and became a parliamentary republic in 2021.

 

, , , , ,

Argentina Launches Citizenship-by-Investment Program: Passport Can Be Obtained for as Little as $350,000

According to Relocation, Argentina has officially announced the launch of a citizenship-by-investment program that will allow foreigners to obtain an Argentine passport without going through the standard, multi-year naturalization process. The government plans to begin accepting applications as early as the fourth quarter of 2026.

The program was announced on October 2 during Argentina Week in Paris by Argentine Economy Minister Luis Caputo and Prime Minister Diego Santilli.

The government is offering foreigners two main options for participation.

The first is a non-refundable contribution of $350,000 to the Argentine treasury.
The second is the purchase of a special government bond worth $800,000, which will be issued specifically for program participants. The government has not yet published the detailed terms of this security.

The program allows for the inclusion of family members.
The spouse of the primary applicant, as well as unmarried and childless children between the ages of 18 and 25, will be eligible for citizenship subject to an additional contribution of $100,000 per person.

For a child under the age of 18, the additional contribution will be $25,000.
Thus, a family consisting of two adults and two minor children will be eligible for Argentine citizenship upon making a total non-refundable contribution of $500,000

. One of the program’s key features is that it grants citizenship itself, rather than a residence permit or permanent residency in exchange for investment.
The legal framework for the new program was established back in May 2025, when the government amended Argentina’s citizenship law and created a special Agency for Citizenship-by-Investment Programs. Its mission is to manage such programs and attract foreign capital.

However, it will not be possible to obtain a passport simply by transferring money. The government promises to conduct extensive background checks on applicants.
The origin of funds, the applicant’s financial transparency, and potential risks related to money laundering and terrorist financing will be scrutinized. The authorities state that due diligence procedures will comply with OECD and FATF recommendations. All investments must go through the official financial system.

Another important point for potential participants: the acceptance of applications had not yet begun at the time the program was announced.
The government has announced that the program is scheduled to launch during the fourth quarter of 2026. Therefore, until the final procedures, application forms, review deadlines, and investment bond parameters are published, it is premature to transfer funds or pay for the services of intermediaries who are already promising a guaranteed Argentine passport.

Argentine citizenship is of interest primarily as a tool for international mobility. The country’s passport provides extensive visa-free access, particularly to Schengen Zone countries, and Argentine citizenship opens up additional opportunities for residence and economic activity within South America thanks to the country’s integration into Mercosur.

Before the investment program was introduced, foreigners could obtain Argentine citizenship through the standard naturalization process. The new model creates a separate pathway for wealthy applicants willing to invest significant capital.
Argentina spent over a year preparing the program. In May 2025, a decree by President Javier Milei established the legal framework for obtaining citizenship through investment, and in April 2026, the leadership of a special government agency was appointed. The authorities first announced the official financial terms on October 2.

, , , ,

Sierra Leone Has Added Two New Pathways to Citizenship for Investors

According to Relocation, Sierra Leone has expanded its citizenship program for foreign investors by adding two new options: expedited citizenship for $1 million and naturalization through residency in the country with investments starting at $90,000.

According to information from the Go-FOR-GOLD Sierra Leone program, the first new option provides for expedited citizenship upon payment of $1 million.

This option is aimed at high-net-worth applicants who need the fastest possible citizenship process. The program requires verification of the source of funds and the applicant’s good character.

The second route is significantly cheaper but requires the investor to have a genuine connection to the country. To participate, applicants must invest at least $90,000 in an approved business or enterprise in Sierra Leone.

Afterward, the applicant must reside in the country for at least 90 days per year for five years. Once these conditions are met, the applicant becomes eligible to apply for citizenship through naturalization.

Thus, the minimum physical presence requirement over five years is 450 days.

These new options complement Sierra Leone’s existing investment citizenship program, launched under the Go-FOR-GOLD brand.

The basic investment track requires a non-refundable contribution of $140,000 for the principal applicant. An additional fee is required to include a spouse in the application, and separate fees apply for other dependents.

One of the program’s unique features is the ability for participants in the main investment track to obtain citizenship without having to reside permanently in Sierra Leone.

The country’s government positions Go-FOR-GOLD not only as a mechanism for attracting foreign investors but also as a tool for financing environmental and economic projects.

Sierra Leone has become one of the new entrants to the rapidly growing market for citizenship-by-investment programs. Such programs are most common in the Caribbean, where they are in place in Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia.

Official source: Go-FOR-GOLD Sierra Leone — the official citizenship program.

, , , ,

U.S. Has Tightened Visa Restrictions on Organizers of “Birth Tourism”

The U.S. has imposed new visa restrictions on foreign nationals who knowingly participate in organizing so-called “birth tourism” or facilitate such trips, U.S. Secretary of State Marco Rubio announced.
The State Department’s new policy took effect on September 23, 2026, and is enforced under Section 212(a)(3)(C) of the U.S. Immigration and Nationality Act. The restrictions may apply to individuals who participate, have previously participated, or assist in organizing trips to the U.S. with the primary purpose of giving birth to a child and securing U.S. citizenship for that child.
Specifically, the measures may affect owners, executives, and managers of companies specializing in “birth tourism,” visa brokers who instruct clients to provide false information when applying for visas, as well as foreign healthcare professionals who knowingly facilitate such trips or the fraudulent use of the Medicaid program. The restrictions may also extend to other individuals who support commercial schemes and, in certain cases, to their family members.
According to Rubio, commercial “birth tourism” networks advertise their services abroad, help applicants conceal the true purpose of their trip, and may charge tens of thousands of dollars to arrange childbirth on U.S. soil.
However, this is not the first time a ban has been in place on using a B-category visitor visa for a trip whose primary purpose is to give birth to a child in order to obtain U.S. citizenship for that child. Since January 24, 2020, U.S. consular officers have been required to deny a B visa if they have reason to believe that this is the primary purpose of the trip.
The new 2026 policy shifts the focus from the applicants themselves to the organizers, intermediaries, and infrastructure behind such schemes. Immigration lawyers note that the State Department has not yet disclosed in detail what evidence will be used, how exactly individuals subject to the restrictions will be identified, or whether the new measures will affect visas that have already been issued.
Pregnancy alone is not an automatic basis for visa denial. The State Department continues to allow travel to the U.S. for medical treatment, including medical care during pregnancy, provided the applicant meets the requirements for the relevant visa and can confirm the purpose of the trip and the ability to pay for medical expenses. However, “birth tourism”—where the primary purpose is to obtain U.S. citizenship for a child—is not officially considered a valid basis for issuing a visitor visa.

, , , ,

Ukrainian Businessman Vadim Novinsky Has Been Granted Serbian Citizenship

Ukrainian businessman, former member of parliament, and one of the most prominent major investors in Ukraine’s metallurgical industry, Vadim Novinsky, has been granted Serbian citizenship, according to the Serbian business portal Parametar.

According to Parametar, the decision to grant Novinsky citizenship of the Republic of Serbia was made by the country’s government on September 24, 2026, and published in the official “Službeni Glasnik.” The document was signed by Serbian Prime Minister Džuro Matsut.

Novinsky was born on June 3, 1963, in Staraya Russa, in what is now Russia, but he has built a significant portion of his business career in Ukraine. He obtained Ukrainian citizenship in 2012.

In Ukraine, Novinsky is best known as the founder of Smart Holding and a long-time partner of Rinat Akhmetov’s SCM Group in the mining and metallurgical group Metinvest. Smart Holding held a 23.76% stake in Metinvest. The group’s business interests also spanned shipbuilding, the agricultural sector, real estate, and other areas.

In late 2022, Novinsky announced that he had transferred his assets to a trust. Metinvest subsequently stated that Novinsky is not a beneficiary of the company and does not exercise actual control over it.

Novinsky was also involved in politics. From 2013 to 2022, he served as a member of the Ukrainian Parliament for several terms, first as part of the Party of Regions faction and later as part of the “Opposition Bloc.”

In December 2022, Ukraine imposed personal sanctions against Novinsky. In January 2025, the State Bureau of Investigations and the Security Service of Ukraine reported that the former People’s Deputy was suspected of high treason and inciting religious hatred. Ukrainian media identified the suspect as Vadym Novinsky. The businessman himself denied the charges against him and called them politically motivated.

In June 2025, Ukrainian law enforcement agencies also reported an investigation into possible tax evasion totaling more than 4 billion UAH involving the former lawmaker, whom the media identified as Novinsky. At this point, these are allegations and investigations, not final, legally binding convictions.

After the start of Russia’s full-scale invasion of Ukraine, Novinsky publicly spoke out against the war.

Serbian authorities have not yet publicly disclosed the specific reasons for granting Novinsky citizenship, nor have they reported on any potential investment projects by the businessman in Serbia.

Source: Serbian business portal Parametar.

, , , ,