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Caribbean CBIs

CIJN Launches Documentary on Citizenship By Investment

Across the world, Citizenship by Investment Programmes have come under increased scrutiny due to concerns of transparency and accountability. What is clear is that they are a necessary aspect of the economic survival of the Caribbean nations that offer them. This special presentation explores how they operate, the concerns around them and the difference it makes in the lives of the people of the Caribbean region.

This documentary is the pilot for Caribbean Canvas and is titled, “Caribbean Canvas – Golden Passports, The Investigation.”

Caribbean Citizenship-by-Investment Programmes: Performance and Challenges

History and Growth of CBIs

Citizenship-by-Investment programmes began in 1984 in St Kitts and Nevis, followed by Dominica in1991, by Antigua and Barbuda and Grenada in 2013 and then St Lucia in 2015. Since 1984, several changes and adjustments were made to the various schemes. Basically, however, there are three types of programmes: a financial donation; real estate and an investment. The donation normally goes to the treasury or to a national development fund to finance strategic development projects. The real estate option which has become the most attractive in terms of demand involves the purchase of property which could be sold after an agreed length of time.

St. Kitts & Nevis

How Much is Shrouded in Secrecy?

The Citizenship By Investment Programme (CBI) of St. Kitts and Nevis seems shrouded in a troubling combination of secrecy, a lack of transparency and financial accountability.

The existing reporting by the government itself indicates the Commonwealth nation relies on its CBI programme for a large portion of its total revenue. Based on the Auditor General’s report of 2020, as much as 40% of the country’s revenue is derived from the CBI programme.