The Organization of Eastern Caribbean States (OECS) – five of whose six sovereign member states have citizenship by investment programs – has responded to the OECD’s recent report.
The OECD, in its report, singled out Antigua & Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia, citing concerns that these countries’ CIPs may be used to circumvent the Common Reporting Standards (CRS).
“We had a long discussion and all the arguments have been marshaled to make sure that we take aggressive steps to show the unreasonableness of the OECD position, and at the same time, the countries themselves undertake to look to see areas in their citizenship by investment/resident by investment programmes where there are areas in which there may be any limitations where those can be strengthened. So there was a good and long discussion as you’d expect on a subject like that, particularly consequent upon the OECD statement,” said Gonsalves.
Gonsalves’ statement is noteworthy because, while he is himself an opponent of CIPs and has long dismissed calls from the opposition in his own country to introduce such a program, he nonetheless acknowledges the unjust OECD-position on the matter.
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Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.