What happens when administration is improved? 1

What happens when administration is improved?

Accelerating the application process

Improved administration should be the main corporate expectation in consideration of the ease of doing business. Governments should be to quickly incorporate C.I.P applications after the due diligence process for example the three-month application period which has to suffice, in the absence of special circumstances, under the Antigua and Barbuda Citizenship by Investment Act 2013. Administrative deficiencies have the potential of unjustifiably hindering directly or indirectly the applicants constitutional rights and statutory rights.

The problem persists that many government registries may not yet be prepared to streamline applications as there have not made the necessary technological advancements. As O.E.C.S nations compete for C.I.P’s, it has become essential for them to streamline the business registration process and aid foreign investors in overcoming any legal or logistical obstacles. In order to facilitate what was once a slow and complicated process involving numerous different bodies, some of the region’s most prominent near shore destinations have begun implementing “one-stop shops” and online registration pages. Faster incorporation would mean faster access to the investment and the government then could make use of the money accordingly.

From the investors’ perspective, time is of the essence in the decision-making process both in terms of processing times, as indicated by the programme, and in terms of obtaining the passport. Efficiency and observation of announced processing limits is important for programmes’ integrity but it has to be balanced against the mandatory time frame for performing due diligence and background verification.

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