Caribbean CBI countries have implemented four of six US-proposed principles. Two remain as nations prepare for new oversight.
Last month’s Caribbean price changes left St. Kitts’ donation option uncompetitive. Today, the CIU responds with new prices.
OECS confirms St Lucia’s signing of the MoA and commits to the June 30 deadline. Raises questions about legislation and upcoming procedures.
The Unit, explained the PM, would alert the government whenever a CBI-approved citizen became the subject of criminal investigations.
Denzil Douglas: MSR’s “allegations are baseless, malicious, and deliberate attacks intending to destroy my reputation, character, and legacy.”
MSR Media says it may also sue CBI companies that enable discounting, and claims to have new evidence of criminal financial transactions.
50-60% of St Kitts govt. revenue from CBI. St Lucia had asked for more time to consider MoA, but other countries “went ahead and signed.”
MSR Media, whose principal is suing the former CIU-boss for “an international scam”, will have the first approved Public Benefit Option.
Saint Kitts officials claim the refund-troubles arose from decisions of the former administration. That is not true, writes Maxim Zharkov.
“We have incontrovertible evidence of corruption, and we are going after everyone,” says Martinez about his plans for suing in US court.
Individuals denied citizenship despite paying for it will finally get their money back.
Despite gaining approvals and making donations, applicants were retroactively rejected due to their nationalities and are not being refunded.
The question on everyone’s mind is if other Caribbean CIPs will raise prices like Saint Kitts. IMI contacted each to get an answer.
Minimum investment doubled in most categories; in-person document collection; new limits on marketing methods; all effective immediately.
Before the new administration took office last year, Saint Kitts & Nevis’ CIP had 95 approved real estate options. Today, it has nine.
The new CIU chief says he plans to assess the status of the CIU, introduce new investment options, and redefine the program’s target clients.
PM Drew also said “hundreds of millions of the CIP funds were abused by the previous administration,” thus reducing the profit margin.
Meanwhile, Dominica’s incumbent DLP won 19 out of 21 seats in this week’s general election, which was boycotted by major opposition parties.
PM Harris declined to share the financial data even as his cabinet ministers threatened, and eventually brought, a motion of no confidence.
40 years have passed since countries first began selling citizenships. See our timeline of the history of citizenship by investment programs.
