The citizenship by investment programs enables investors to rapidly obtain citizenship with no required residence period, or only a short one.
On Feb. 25, a U.S. government delegation led by Anna Morris, the Department of Treasury’s deputy assistant secretary, attended a meeting in Saint Christopher, in St Kitts & Nevis, to discuss the Citizenship by Investment (CBI) programs in the Caribbean.
Prime Ministers Gaston Browne (Antigua & Barbuda), Roosevelt Skerrit (Dominica), Dickon Mitchell (Grenada), Terrance Drew (St Kitts & Nevis), and Philip J. Pierre (Saint Lucia) were also present at the meeting.
They agreed on not processing applications from persons whose request to benefit from the CBI programs has been denied in another CBI jurisdiction.
These Caribbean leaders also approved that national authorities run checks on each application with their financial intelligence units, audit the CBI programs annually or every two years, and request law enforcement assistance to retrieve revoked/recalled passports.
From March 31, these nations will also suspend processing applications from Russians and Belarusians. This initiative happens because the U.S. has been trying to limit the options available to potential Russian and Belarusian investors.
The U.S. will convene a technical discussion within the next four to six months to assess the implementation of the agreed six principles.
Through CBI programs, investors can rapidly obtain citizenship with no required residence period, or only a short one in return for making qualifying investments.
Besides the abovementioned Caribbean countries, about a dozen nations offer CBI programs, including Cambodia, Egypt, Jordan, Malta, North Macedonia, Vanuatu, and Montenegro.