Just did a piece on the Citizenship By Investment programme and Antigua, Dominica, and St.Kitts were not portrayed in a good light. PM Gaston Browne did hold his own with the interviewer though. Nuff shady characters with Caribbean passports.
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So 60 Minutes
Will check it out when its uploaded on youtube
will be interesting.
I'm hearing that the new PM of St.Lucia has relaxed some of the restrictions that the previous administration had put in place for that country's CIP. Something to do with some Chinese investors. Interesting times ahead.
In reply to Priapus
One of the big issues was that diplomatic passports ended up in the hands of undesirables. Came to light when these ppl wanted protection form prosecution.
In reply to rubberd
Yeah I got that. I suppose the islands are caught between a rock and a hard place. They need FDI but can't afford to invoke the wrath of the USA and EU.
The Swiss guy who "invented" CIP didn't want to disclose how many different passports he simultaneously holds.
In reply to Priapus
I saw it. This doesn't look good long term if the Caribbean will sell citizenship to unsavory characters or white collar crimininals. This becomes a distinct possibility when money is the primary motivation.
every country sells citizenship, the idea is not the problem: the problem is making an industry out of the practice without proper vetting.
In reply to camos
True Dat. The problem for the Caribbean islands is compounded with the "culture" of turning a blind eye to corruption.
I am involved in marketing the programs globally as a disclaimer.
St Kitts has been operating its program since 1984. Dominica since 1993.
Grenada and St Lucia and Antigua are more recent.
The problem with these shows is that they create the impression that these programs are recent and are haphazard. St Kitts at the time with Canada and Austria was the oldest program in the world. Dominica is just after.
There is an 'industry'. The due diligence practitioners are US and UK companies who are allied to the security agencies from each of these countries. The idea that passports are being handed out like candy is an unfortunate byproduct of these kind of shows.
The problem is that the opposition parties in each jurisdiction try their best to shit on the government of the day and then when they get into power they jump on the same program. One day they will destroy the very thing they want to manage.
Considering the US has its EB5 program, and Canada are once again reopening their high end investor program, if the Caribbean governments dont unify to protect themselves they will once again be played right out of the game.
In reply to Commie
I agree with what you have written but don't you think it becomes a race to the bottom when each island try to out do the other by making their minimum investment amount lower than the next island? I heard that the new PM of St.lucia reduced the amount from USD $500,000.00 to $200,000. I stand corrected on this.
In reply to Commie
So a standard set by CARICOM for all members to follow? How about a CARICOM board to vet each application?
In reply to Priapus
St Lucia reduced to 100k for the donation option and 200k for the real estate investment. They are matching Dominica.
Its an industry which is privy to market forces at a time when high net worths from all over the world want the insurance option. There are just over 64 countries offering economic citizenship.
Im not sure what the race to the bottom part means. How many people you know will pay circa 400k EC for a citizenship and have their entire life run through with a tooth comb ?
Citizenship programs
In reply to Emir
Caricom board ? Are you nuts ?
The regional security apparatus based in Barbados vets every application from the Caribbean Citizenship programs.
In reply to Emir
CARICOM is an association of cannibals, you have politicians from member states hiding money in banks in other member states.
In reply to Commie
No need for insults, I ask a question.
You seem to be speaking from both sides of your mouth though- in the one hand you criticize the current policy of the various islands and on the other you claim it is working well, so what is your problem
In reply to Emir
RSS
In reply to Commie
So you think that $400k E.C. Is any money for a rich Nigerian or Syrian looking to enter the USA or Europe using a Caribbean passport?
In reply to Commie
The problem is that America wants everything for itself. Period. It attacks the offshore banks in the Caribbean and there are more off shore banks and companies in the state of Delaware than all the Caribbean. And Delaware is totally unregulated. But it is American so it is alright. Antigua won the internet case against the US in 2004 and the US has told Antigua and the WTO to screw off. I am big and bad. Trump will destroy this satan called the USA.
In reply to bobby
America did not destroy the offshore banks, corrupt local officials turned a blind eye on a con man and allowed your image to go down with him.
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