Residency by investment

Former Cabinet Minister and local attorney, Cline Glidden, welcomes the proposed changes to the Residency by Investment initiative that government launched in 2003.

He says the real estate market has changed and the legislation needs to be updated.

“Twenty years ago it was, and the legislation hasn’t been amended to reflect current modern-day prices. When you have properties going along the beach for $30 million, I think it’s fair to say that two million dollars — we’ve outgrown that for quite a while — and the legislation should be amended to reflect that,” says Mr Glidden.