Growth of RCBI industry: “I expect stricter rules”

Laszlo Kiss, a Vanuatu citizenship-by-investment agent, is the founder and managing director of Discus Holdings Ltd. in Malta.

He said the pandemic has impacted the global RCBI industry in a positive way.

“It opened the eyes of many prospective clients that having a second residency or citizenship opens up doors for international travel, which is simply precious these days,” he said.

How and why did you get involved in the investment immigration industry?

I started my international tax and wealth structuring business in 1992, and soon we had many enquiries from central and eastern Europe. The first non-European citizenship I helped a friend of mine to obtain was in Grenada in 1998 in the old program.

Why do you enjoy working in this industry?

I am known as a down-to-earth type of a guy, honest with clients. Even if I lose a sale, I will not lie. Very often, smooth property salesmen are promising the sky and I feel that my role is to bring clients down to sanity. It is quite a rewarding process sometimes.

What are some current trends you are seeing in the industry and with Vanuatu’s program?

I think the international residency and citizenship by investment business grew very fast in the last 10 years, and it is the natural habit of government bureaucrats to try to regulate any industry which generates so much income and has serious international security implications also. So, I expect stricter rules. Vanuatu very soon realized that offering the citizenship must be coupled with a reliable due diligence procedure, but there is always room for improvement, so the country is working on strengthening due diligence based on international standards.

Has there been any recent changes to Vanuatu’s program or any new investment options or streams?

Since July last year the Vanuatu government has offered participation to stateless people with a special license.

What are your top business goals this year?

We have opened a new office in the U.S. after the presidential election and are helping our colleagues to be successful there as much as possible.

What achievement in this market has been most rewarding for you? Why?

My first sale of citizenship which helped a client to achieve international mobility was an eye-opener, and I never looked back since.

What are your thoughts on vaccine passports?

For a long time the WHO international vaccination certificate for yellow fever served international travelers well, so I see no reason why the equivalent should not be used.

Why did you decide to join our Uglobal verified community and what has it done for your business?

UGlobal provides useful information about our industry, so having verified professionals with extensive knowledge helps prospective clients to get reliable answers.

What is your favorite quote and why?

If you have lunch with the devil, you could soon find yourself on the menu. I think the biggest problem our industry faces is corruption, and I think I would like to stay fully out of it.

What is the favorite book you have read recently? Why?

A very good book I read was: Japan 1941 - Countdown to Infamy by Eric Hotta. It showed that certain decisions which Japan put into motion in 1931 made it basically impossible to avoid having a war ten years later. So, it showed how actions could have unforeseen consequences.

What about you would surprise others? 

Since 1998 I have been representing the Seychelles (an archipelago in the Indian Ocean with 115 islands and 100,000 inhabitants) in Hungary as Honorary Consul. It is extremely fascinating to see how life in those small island states like the Seychelles and Vanuatu are similar to each other, even though they are 10,000 miles away.

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