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Abuse of C'bbean citizenship programmes on the rise — report
Saturday, May 24, 2014 4 Comments
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(L-R) DOUGLAS... recently announced that the twin-island is evaluating what, if any, changes should be made to its citizenship programme. ANTHONY... St Lucia open to the idea of selling citizenship
WASHINGTON, USA (CMC) — While economically-pressed Caribbean countries are selling citizenship to mostly Middle Eastern, Asian, and Russian applicants as an easy revenue source, reports here say abuse of the programme is on the rise.
According to the Christian Science Monitor, the twin-island federation of St Kitts and Nevis, of roughly 55,000 people, grants citizenship in exchange for either a contribution of US$250,000 or more to its Sugar Industry Diversification Foundation or the purchase of approved real estate worth a minimum of US$400,000.
"Selling passports is a way for the cash-strapped nation to raise money and has helped transform an economy once dependent on sugar cane," said the paper on Friday. "But, as the programme has grown, so have allegations of abuse."
The Monitor noted that just last month the US Treasury Department raised concerns that St Kitts had issued passports to three Iranian men who were using the documents to allegedly help Iranian banks launder millions of dollars.
Saturday, May 24, 2014 4 Comments
Print this page Email A Friend!
(L-R) DOUGLAS... recently announced that the twin-island is evaluating what, if any, changes should be made to its citizenship programme. ANTHONY... St Lucia open to the idea of selling citizenship
WASHINGTON, USA (CMC) — While economically-pressed Caribbean countries are selling citizenship to mostly Middle Eastern, Asian, and Russian applicants as an easy revenue source, reports here say abuse of the programme is on the rise.
According to the Christian Science Monitor, the twin-island federation of St Kitts and Nevis, of roughly 55,000 people, grants citizenship in exchange for either a contribution of US$250,000 or more to its Sugar Industry Diversification Foundation or the purchase of approved real estate worth a minimum of US$400,000.
"Selling passports is a way for the cash-strapped nation to raise money and has helped transform an economy once dependent on sugar cane," said the paper on Friday. "But, as the programme has grown, so have allegations of abuse."
The Monitor noted that just last month the US Treasury Department raised concerns that St Kitts had issued passports to three Iranian men who were using the documents to allegedly help Iranian banks launder millions of dollars.
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