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13.
In considering family members of entrepreneurs as EC invitees, it is recommended that only those who have assumed top management positions such as executive directors or general managers of the companies controlled by the families should be accepted. It will not be necessary for them to hold shares in the companies concerned, as families do not always allocate shares among them.
Annex B
Relaxing the selection guidelines
14.
Some 38 candidates in Category 1 and Category 2 fail to meet the selection guidelines set out in Annex B. As the guidelines are not announced, candidates often do not disclose fully their personal investment. The $50m investment requirement is an arbitrary figure which was thought to
to represent a reasonable level of investment for an entrepreneur. It should be noted that the amount is substantially higher than the investment level
investment level required for business immigration offered by the popular destination countries which allow applicants to invest between about $2m (in the case of UK and New Zealand) to $7.8 m (in the case of the USA). Details of the investment immigration policies of these countries are set out in Annex C Annex C.
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15.
Having regard to the information supplied by candidates and the investment immigration schemes of the destination countries, it is recommended that the investment guideline be reduced to $30m. This will increase the number of eligible candidates on the existing list by 14. It will also increase the number of qualified uninvited applicants as set out in Paper 25/92 [revised] from 16 to 25.
G.F. 316
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