SVG Not To Offer Citizenship Via Investment
by Mike Godfrey, Lowtax.net, Washington
15 August, 2014
The St Vincent and the Grenadines Government has announced that the nation will not introduce a Citizenship by Investment Program (CIP). The territory's previous program was repealed in 2001.
Speaking to the Caribbean Media Corporation (CMC), Ralph Gonsalves, the Prime Minister of St Vincent and the Grenadines, attributed the decision to due diligence concerns, market dominance by neighboring nations, and the importance of maintaining a national identity. However, the Government did not rule out citizenship for naturalized foreigners who settle and also invest in the local economy.CIPs are offered by St Kitts and Nevis and Dominica, and a new CIP has recently been announced by Antigua and Barbuda. Saint Lucia is currently also considering its own CIP.
Gonsalves told CMC: "For me, citizenship is not a commodity for sale, and the passport, which is a manifestation of the citizenship, what I call the outward sign of the inward grace of citizenship, is also not for sale. Now, that is my position, that is the position of the government of St Vincent and the Grenadines. Who wants and do economic citizenship that is their business. If I am the last man standing with that, that is the position which I hold, and I happen to believe that that is the position of the vast majority of people of St Vincent and the Grenadines."
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