Report: IM Yearbook 2019/2020
Media: Investment Migration Yearbook 2019/2020
Sector: Investment Migration
Publication Date: June 2019
JACQUELINE GAUCI, ADMINISTRATION OFFICER OF THE IMC
New Membership Structure for a Stronger Industry
Jacqueline Gauci of the Investment Migration Council (IMC) outlines the association’s new membership structure.
Can you give us an overview of the new membership structure?
The new membership structure is a solid commitment to further professionalise the association and consequently, the entire investment migration industry. It is also a commitment to standardising the investment migration industry through a portfolio of education and training programmes, which are being launched gradually. There are now five membership tiers for individuals: Student, Academic, Associate, Professional, and Fellow. There are two pathways to IMC membership: the education route or the experience route. It is planned that eventually the experience route will be phased out, and the membership journey will only be possible through the education route, except for Fellows.
Can you tell us a bit more about the two routes?
The journey through membership with the education route is the recommended one, since this is expected to significantly strength-en the skills and knowledge of members and by consequence the wider industry. The first step will be the Certificate in Investment Migration, which is intended as an online course with a multiple-choice test at the end. This will lead to Associate membership of the IMC. The second step will be the Diploma in Investment Migration that will lead to Professional membership, and the final step will be the Post Graduate Diploma in Investment Migration, which will lead to Fellow membership. On completion of each course, graduate non-members of the IMC will be encouraged to join the IMC based on their educational achievement. They will be recognised in the industry by the course designation and member-ship tier they belong to. To follow suit with other professional bodies, membership by experience will be offered to those practitioners who meet the necessary criteria in any membership tier to be members of the IMC. Furthermore, there are two membership tiers for companies: Corporate and Corporate PLUS. These remain unchanged.
Why did you feel the need to change the membership model?
Given the current level of scrutiny of the industry, we felt there was a pressing need for the investment migration industry to demonstrate that it can self-regulate and conduct itself in an appropriate and professional manner. The introduction of the education route, coupled with the launch of the education and training division, supports our drive to enhance the industry’s standards.
How will these changes affect existing members and what requirements do new applicants need to fulfil in order to become IMC members?
The current nearly 500 members within the IMC will retain their IMCM designation and be part of the Professional membership tier where they will receive additional benefits. Those members who have been with the IMC for five consecutive years and have over 10 years’ experience will be encouraged to join the highest tier of Fellow membership.
Can you summarise the benefits of being an IMC member for those who are not yet part of your organisation?
The strength of the IMC comes from its members. Members enjoy benefits in terms of getting access to professional development opportunities, training and education, networking, and information services provided by the association. The above benefits enhance the image of the industry and promote professionalism and high ethical standards. Being part of the leading global association concerned with investment-related migration will support companies’ efforts to keep up-to-date on latest trends and developments in the field. Corporate membership is also available with the additional benefit of displaying the IMC membership logo on corporate marketing collateral and online media.
What new initiatives do you have in the pipeline that members should be aware of?
With the launch of the Certification in Investment Migration – at our annual Forum held in Geneva in June 2019 – the industry sees an overnight transformation. This entry-level course, designed to be studied over six months, is the first global investment curriculum of its type, and it is specifically designed for those working in this industry. The course is taught online through our learning management system and offers a total of five compulsory modules. The certification has been engineered to prepare participants for work in a changing, vibrant industry where the highest professional standards, ethical values and enhanced competencies are not just encouraged, but required.
Do you have a final message you’d like to share with your current and potential members about the IMC?
The professionalisation of the industry via entry to the IMC by formal qualifications and experience is intended to be a corner-stone of responsible growth and development for the future. We expect that those working in the field and those evaluating the status and value of the investment migration industry will welcome the formal IMC qualifications.