During the recent IMI Connect event in Malta, the unauthorized discounting of Caribbean CBI real estate emerged as a prominent and widely debated topic.

Renowned industry figures, including Sam Bayat from Bayat Group, Colin Bishop of Reef View Enterprise, and Heather Bain of ATB Global Mobility, led a passionate discussion on this matter.

Local CBI agents, developers, and international promoters also actively participated, expressing their viewpoints.

The consensus reached was that while the private sector practitioners and clients bear some responsibility for the problem at hand, the primary party accountable is the government.

The absence of strict regulations and substantial consequences imposed by the government allows agents to resort to offering discounts to retain clients and compete with fellow agents.

Unless government bodies take decisive action, agents are left with no choice but to engage in discounting practices.

Sam Bayat stressed the importance of industry-wide coordination and suggested that the Investment Migration Council could play a pivotal role in establishing a code of conduct.

Additionally, he expressed optimism about the “6 CBI Principles,” a Caribbean coordination initiative led by the United States, deeming it an interesting and positive step.

Ultimately, he expressed hope that European counterparts would also embrace such programs under the influence of the Americans.

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